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Other income (expense) (Tables)
 12 Months Ended
Dec. 31, 2011
Other income (expense)  
Other income (expense)

 

 

 

 

Years ended December 31,

 

(Millions of dollars)

 

2011

 

2010

 

2009

 

Investment and interest income

 

$

85

 

$

86

 

$

98

 

Foreign exchange gains (losses)1 

 

21

 

(55

)

184

 

License fee income

 

80

 

54

 

49

 

Gains (losses) on sale of securities and affiliated companies

 

17

 

9

 

(2

)

Impairment of available-for-sale securities

 

(5

)

(3

)

(12

)

Miscellaneous income (loss)

 

(230

)2

39

 

64

 

 

 

$

(32

)

$

130

 

$

381

 

 

1     Includes gains (losses) from foreign exchange derivative contracts.  See Note 3 for further details.

2     Miscellaneous income (loss) in 2011 includes forward starting swap costs of $149 million (see Note 3) and bridge financing costs of $54 million (see Note 23), both related to the acquisition of Bucyrus.