Other (Income) Expense

12 Months Ended

Dec. 31, 2011

14. Other (income) expense

The following table presents the components of Other (income) expense as reflected in the consolidated statements of operations:


	Years Ended December 31
(in millions of U.S. dollars)	2011			2010			2009
Losses from separate account assets	$	36		$	–		$	–
Equity in net (income) loss of partially-owned entities		(40	)		(81	)		39
Federal excise and capital taxes		20			19			16
Amortization of intangible assets		29			9			11
Noncontrolling interest expense		2			14			3
Other⁽¹⁾		26			23			16
Other (income) expense	$	73		$	(16	)	$	85

⁽¹⁾ Included in Other are acquisition-related costs of $5 million and $14 million in 2011 and 2010, respectively. Acquisition-related costs were immaterial in 2009.

Other (income) expense includes losses from separate account assets that do not qualify for separate account reporting under GAAP (failed separate accounts). The offsetting movement in the separate account liabilities is included in Policy benefits. Refer to Note 1 i) for additional information. Equity in net (income) loss of partially-owned entities includes our share of net (income) loss related to investment funds, limited partnerships, partially-owned investment companies, and partially-owned insurance companies. Certain federal excise and capital taxes incurred as a result of capital management initiatives are included in Other (income) expense in the consolidated statements of operations. As these are considered capital transactions, they are excluded from underwriting results.