Note 6 – Other Income and Expense


	Three Months Ended						Six Months Ended
(In thousands)	August 24, 2012			August 26, 2011			August 24, 2012			August 26, 2011
Gain on sale of intellectual properties	$	—		$	(4,500	)	$	—		$	(4,500	)
Termination of certain agency agreements		—			—			2,125			—
Miscellaneous		(778	)		(622	)		(1,329	)		(1,545	)

Other operating (income) expense – net	$	(778	)	$	(5,122	)	$	796		$	(6,045	)

In May 2012, the Corporation recorded expenses totaling $2.1 million related to the termination of certain agency agreements associated with its licensing business.

In June 2011, the Corporation sold certain minor character properties and recognized a gain of $4.5 million. The proceeds of $4.5 million were included in “Proceeds from sale of intellectual properties” on the Consolidated Statement of Cash Flows.


	Three Months Ended						Six Months Ended
(In thousands)	August 24, 2012			August 26, 2011			August 24, 2012			August 26, 2011
Gain on sale of Party City investment	$	(3,152	)	$	—		$	(3,152	)	$	—
Loss on Clinton Cards debt		2,249			—			10,043			—
Foreign exchange loss (gain)		1,060			152			(396	)		869
Rental income		(410	)		(268	)		(1,046	)		(739	)
(Gain) loss on asset disposal		(2	)		(570	)		154			(484	)
Miscellaneous		3			(17	)		(176	)		(190	)

Other non-operating (income) expense – net	$	(252	)	$	(703	)	$	5,427		$	(544	)

“Miscellaneous” includes, among other things, income/loss from debt and equity securities.

In August 2012, the Corporation recorded a gain totaling $3.2 million associated with the sale of a portion of its investment in Party City. See Note 1 for further information.

The Corporation recorded a loss of $7.8 million and $2.2 million in the three months ended May 25, 2012 and August 24, 2012, respectively, related to the senior secured debt of Clinton Cards that the Corporation acquired during the first quarter. See Note 4 for further information.

In June 2011, the Corporation sold the land, building and certain equipment associated with a distribution facility in the International Social Expression Products segment that were previously included in “Assets held for sale” on the Consolidated Statement of Financial Position and recorded a gain of approximately $0.5 million. The cash proceeds of approximately $2.4 million received from the sale of the assets are included in “Proceeds from sale of fixed assets” on the Consolidated Statement of Cash Flows.