NOTE 4 – OTHER INCOME AND EXPENSE

Other Operating (Income) Expense - Net


	2014			2013			2012
Clinton Cards secured debt (recovery) impairment	$	(4,910	)	$	8,106		$	—
Gain on sale of intellectual properties		—			—			(4,500	)
Termination of certain agency agreements		—			2,125			—
Loss (gain) on fixed asset disposals		560			631			(461	)
Miscellaneous		(3,368	)		(6,532	)		(3,239	)

Other operating (income) expense – net	$	(7,718	)	$	4,330		$	(8,200	)

The Corporation recorded a loss of $8,106 during 2013 related to the senior secured debt of Clinton Cards. During 2014 the impairment of the secured debt of Clinton Cards was adjusted based on updated estimated recovery information provided by the Administrators, resulting in a gain of $4,910. See Note 3 for further information.

In May 2012, the Corporation recorded expenses totaling $2,125 related to the termination of certain agency agreements associated with its licensing business.

“Miscellaneous” in 2013 included, among other things, a gain recognized on the sale of an insignificant non-card product line within the International Social Expression Products segment of $1,432 and a gain recognized on the disposition of assets within the AG Interactive segment of $1,134.

In October 2011, the Corporation sold the land and buildings relating to its party goods product lines in the North American Social Expression Products segment and recorded a gain of approximately $393. The cash proceeds of $6,000 received from the sale of the assets are included in “Proceeds from sale of fixed assets” on the Consolidated Statement of Cash Flows.

In June 2011, the Corporation sold the land, building and certain equipment associated with a distribution facility in the International Social Expression Products segment and recorded a gain of approximately $500. The cash proceeds of approximately $2,400 received from the sale of the assets are included in “Proceeds from sale of fixed assets” on the Consolidated Statement of Cash Flows.

Also in June 2011, the Corporation sold certain minor character properties and recognized a gain of $4,500. The proceeds of $4,500 are included in “Proceeds from sale of intellectual properties” on the Consolidated Statement of Cash Flows.

Other Non-Operating (Income) Expense - Net


	2014			2013			2012
Impairment of investment in Schurman	$	1,935		$	—		$	—
Gain related to Party City investment		(3,262	)		(4,293	)		—
Foreign exchange (gain) loss		(280	)		(2,783	)		1,314
Rental income		(1,714	)		(1,919	)		(1,217	)
Miscellaneous		25			(179	)		24

Other non-operating (income) expense – net	$	(3,296	)	$	(9,174	)	$	121

In November 2013, the Corporation recognized an impairment loss of $1,935 associated with its investment in Schurman. See Note 1 for further information.

The Corporation recognized gains from its investment in Party City of $3,262 and $4,293 in 2014 and 2013, respectively. See Note 1 for further information.