Other-Net, Expense (Income)

12 Months Ended

Dec. 31, 2016

Nonoperating Income (Expense) [Abstract]

Other - Net, Expense (Income) [Text Block]

Note 17: Other–Net, (Income) Expense

Other–net, (income) expense consisted of the following:

	2016			2015			2014
Interest expense	$	185.2		$	161.2		$	148.8
Interest income	(108.7		)	(87.0		)	(121.0		)
Venezuela charge	203.9			—			—
Debt extinguishment loss (Note 10)	—			166.7			—
Other income	(195.6		)	(341.5		)	(368.3		)
Other–net, (income) expense	$	84.8		$	(100.6	)	$	(340.5	)

In 2016, due to the financial crisis in Venezuela and the significant deterioration of the bolívar, we changed the exchange rate used to translate the assets and liabilities of our subsidiaries in Venezuela which resulted in a charge of $203.9 million. Prior to this change, we used the Supplementary Foreign Currency Administration System (SICAD) rate; however, this official rate was discontinued in 2016. After considering several factors, including the future uncertainty of the Venezuelan economy, published exchange rates, and the limited amount of foreign currency exchanged, we changed to the Divisa Complementaria (DICOM) rate.

For the years ended December 31, 2016, 2015, and 2014, other income is primarily related to net gains on investments (Note 7). Other income in 2014 also related to the transfer to Boehringer Ingelheim of our license rights to co-promote linagliptin and empagliflozin in certain countries (Note 4).