Other expense

12 Months Ended

Dec. 31, 2023

Analysis of income and expense [abstract]



Note 9			Other expense


FOR THE YEAR ENDED DECEMBER 31		NOTE		2023	2022
Equity (losses) income from investments in associates and joint ventures			20
	Loss on investment			(581)	(42)
	Operations			28	(19)
Net mark-to-market losses on derivatives used to economically hedge equity settled share-based compensation plans			29	(103)	(53)
Early debt redemption costs			25	(1)	(18)
Gains on investments				80	24
Interest income				67	22
Gains (losses) on retirements and disposals of property, plant and equipment and intangible assets				11	(27)
Other				33	(2)
Total other expense				(466)	(115)



Equity (losses) income from investments in associates and joint ventures

We recorded a loss on investment of $581 million and $42 million in 2023 and 2022, respectively, related to equity losses on our share of an obligation to repurchase at fair value the minority interest in one of BCE’s joint ventures. The obligation is marked to market each reporting period and the gain or loss on investment is recorded as equity gains or losses from investments in associates and joint ventures.



Gains on investments

In 2023, we completed the sale of our 63% ownership in certain production studios. We recorded net cash proceeds of $211 million and a gain on investment of $79 million. See Note 4, Business acquisitions and disposition, for additional details.

In 2022, we completed the sale of our wholly-owned subsidiary 6362222 Canada Inc. (Createch) and recorded a gain on sale of $39 million.

Additionally, in 2022, we recorded a loss on investment of $13 million related to an obligation to repurchase at fair value the minority interest in one of our subsidiaries.



Gains (losses) on disposals of property, plant and equipment

In 2023, in addition to losses recorded on retirements of property, plant and equipment, we sold land for total proceeds of $54 million and recorded a gain of $53 million as part of our real estate optimization strategy.