Other (Income) Expense – Net

The following table sets forth the items in other (income) expense:



(In millions)	Year Ended December 31
	2016			2015			2014

Gains on sales and revaluation of assets	$	(130	)	$	(572	)	$	(351	)
Loss on debt extinguishment	—			189			—
Loss on derivatives	—			—			102
Other – net	(17		)	33			(24		)
	$	(147	)	$	(350	)	$	(273	)

Individually significant items included in the table above are:

Gains on sales of assets and revaluation of assets for the year ended December 31, 2016 include realized additional consideration of $48 million related to the sale of the Company’s equity investment in Gruma S.A.B de C.V., a $59 million gain, including recovery of loss provisions, related to the sale of the Company’s Brazilian sugar ethanol facilities, a gain related to the revaluation of the remaining interest to settlement value in conjunction with the acquisition of Amazon Flavors of $12 million, partially offset by a $10 million loss on sale of other individually immaterial assets. Gains on sales and revaluation of assets for the year ended December 31, 2015 includes a gain of $256 million related primarily to the sale of the cocoa, chocolate, and lactic businesses, a gain of $212 million on the revaluation of the Company’s previously held equity investments in North Star Shipping, Minmetal, and Eaststarch C.V. in conjunction with the acquisition of the remaining interests, and a gain of $62 million on the sale of a 50% interest in the Barcarena export terminal facility in Brazil to Glencore plc. Gains on sales and revaluation of assets for the year ended December 31, 2014 includes a gain of $156 million upon the Company’s effective dilution in the Pacificor (formerly Kalama Export Company) resulting from the contribution of additional assets by another member in exchange for new equity units and a gain of $126 million on the sale of the fertilizer business.

Loss on debt extinguishment, including transaction expenses of $7 million, for the year ended December 31, 2015 was related to the cash tender offers and redemption of certain of the Company’s outstanding debentures.

Loss on derivatives for the year ended December 31, 2014 was due to losses on Euro foreign currency derivative contracts entered into to economically hedge the Wild Flavors acquisition.

Realized gains and losses on sales of available-for-sale marketable securities were immaterial for all periods presented. Impairment losses on securities of $6 million for the years ended December 31, 2016 and 2014 were classified as asset impairment, exit, and restructuring charges in the consolidated statements of earnings (see Note 18 for more information). There were no impairment losses on securities for the year ended December 31, 2015.

Other - net for the year ended December 31, 2015 includes $45 million of loss provisions related to the Company’s Brazilian sugar ethanol facilities.