Other (Income) Expense

9 Months Ended

Sep. 30, 2011

Other Income Expense [Abstract]

Other (income) expense Text Block

Note 5. Other (income) expense
		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2011		2010		2011		2010
Equity (income)/loss of affiliated companies	$	(13)	$	(3)	$	(36)	$	(16)
Gain on sale of non-strategic businesses and assets		(6)		-		(52)		0
Interest income		(15)		(14)		(42)		(30)
Foreign exchange		5		(3)		23		5
Other, net		8		(58)		35		(48)
	$	(21)	$	(78)	$	(72)	$	(89)

Gain on sale of non-strategic businesses and assets for the nine months ended September 30, 2011 includes a $41 million pre-tax gain, $25 million net of tax, related to the divestiture of the automotive on-board sensor products business within our Automation and Control Solutions segment.

Other, net in the nine months ended September 30, 2011 includes a loss of $29 million resulting from early redemption of debt in the first quarter of 2011. See Note 10 Long-term Debt and Credit Agreements for further details.

Other, net in the three and nine months ended September 30, 2010 includes a $62 million pre-tax gain, $39 million net of tax, related to the consolidation of a joint venture within our Specialty Materials segment. The Company obtained control and the ability to direct those activities most significant to the joint venture's economic performance in last year's third quarter, resulting in consolidation.