DUPONT E I DE NEMOURS & CO | 2013 | FY | 3


 
2013
2012
2011
Cozaar®/Hyzaar® income
$
14

$
54

$
282

Royalty income
187

177

189

Interest income
136

109

110

Equity in earnings of affiliates, excluding exchange gains/losses1
37

99

191

Gain on sale of equity method investment
9

122


Net gains on sales of other assets
25

130

89

Net exchange losses1
(128
)
(215
)
(146
)
Miscellaneous income and expenses, net2
130

22

27

Other income, net

$
410

$
498

$
742


1. 
The company routinely uses foreign currency exchange contracts to offset its net exposures, by currency, related to the foreign currency-denominated monetary assets and liabilities. The objective of this program is to maintain an approximately balanced position in foreign currencies in order to minimize, on an after-tax basis, the effects of exchange rate changes on net monetary asset positions. The net pre-tax exchange gains and losses are recorded in other income, net and the related tax impact is recorded in provision for income taxes on continuing operations on the Consolidated Income Statements. Exchange gains (losses) related to earnings of affiliates was $4, $3 and $1 for 2013, 2012 and 2011, respectively. The $(128) net exchange loss for the year ended December 31, 2013, includes a $(33) exchange loss, associated with the devaluation of the Venezuelan bolivar.
2. 
Miscellaneous income and expenses, net, generally includes interest items, certain insurance recoveries and litigation settlements, and other items.

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