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Other Income (Expense), Net
 3 Months Ended
Mar. 31, 2014
Other Income and Expenses [Abstract]  
Other Income (Expense), Net
Other Income (Expense), Net 
 
Three Months Ended March 31,
 
2014
 
2013
Interest income
$
3

 
$
7

Government grants and incentives
1

 
1

Foreign exchange loss
(12
)
 
(8
)
Strategic transaction expenses
(1
)
 
(2
)
Recognition of unrealized gain on payment-in-kind note receivable
2

 


Insurance recoveries


 
2

Other
1

 
2

Other income (expense), net
$
(6
)
 
$
2


 
Foreign exchange gains and losses on cross-currency intercompany loan balances that are not considered permanently invested are included above. Foreign exchange gains and losses on intercompany loans that are permanently invested are reported in OCI. As discussed in Note 1 above, effective March 31, 2014, we ceased using the official exchange rate of 6.3 and began using the SICAD rate, which was 10.7 bolivars per U.S. dollar (as published by the Central Bank of Venezuela) at March 31, 2014, to remeasure the financial statements of our Venezuelan subsidiaries. The change to the SICAD rate resulted in a charge of $17 during the first quarter of 2014 which is included in the segment EBITDA of our Light Vehicle operating segment. Foreign exchange loss for 2013 includes a first quarter charge of $6 resulting from the February 2013 devaluation of Venezuela's official exchange rate from 4.3 to 6.3 bolivars per U.S. dollar. The charge was largely recovered over the balance of 2013 as the Venezuelan government allowed certain transactions to be settled at the former exchange rate.

As discussed in Note 12 above, the sale of a payment-in-kind note receivable during the first quarter of 2014 resulted in the recognition of the remaining unrealized gain that arose following the valuation of the note receivable below its callable value at emergence from bankruptcy.