OTHER INCOME AND EXPENSE
Other Income
Other income generally includes contract terminations, gains on asset sales and extinguishments of liabilities, favorable judgments on contingencies, and other income from miscellaneous transactions. The components of other income are summarized as follows:
|
| | | | | | | | | | | | |
| | Years Ended December 31, |
| | 2013 | | 2012 | | 2011 |
| | (in millions) |
Contract termination - Beaver Valley | | $ | 60 |
| | $ | — |
| | $ | — |
|
Gain on sale of assets | | 12 |
| | 21 |
| | 46 |
|
Reversal of legal contingency | | 10 |
| | — |
| | — |
|
Insurance proceeds | | — |
| | 38 |
| | 11 |
|
Tax credit settlement | | — |
| | — |
| | 31 |
|
Gain on extinguishment of tax and other liabilities | | 9 |
| | — |
| | 14 |
|
Other | | 34 |
| | 39 |
| | 40 |
|
Total other income | | $ | 125 |
| | $ | 98 |
| | $ | 142 |
|
Other Expense
Other expense generally includes losses on disposal of assets, losses resulting from debt extinguishments, legal contingencies and losses from other miscellaneous transactions. The components of other expense are summarized as follows:
|
| | | | | | | | | | | | |
| | Years Ended December 31, |
| | 2013 | | 2012 | | 2011 |
| | (in millions) |
Loss on disposal of assets | | $ | 51 |
| | $ | 64 |
| | $ | 66 |
|
Contract termination | | 7 |
| | — |
| | — |
|
Other | | 18 |
| | 18 |
| | 20 |
|
Total other expense | | $ | 76 |
| | $ | 82 |
| | $ | 86 |
|
