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Business Combinations and Other Investment Activities
 12 Months Ended
Dec. 31, 2014
Business Combinations [Abstract]  
Business Combinations and Other Investment Activities
Business Combinations and Other Investment Activities
During 2014, the Company completed six immaterial business acquisitions and other equity investments for $69 million. These acquisitions complement and strengthen the Company's global portfolio. In addition, the Company recognized a loss of $9 million in an equity investment arising from an impairment of carrying value.
During 2013, the Company completed two immaterial business acquisitions and two other equity investments for $36 million. In addition, the Company recognized a loss of $25 million on an equity investments arising from an impairment of carrying value, partially offset by a $3 million gain on sale. The gains and losses for these transactions were recorded in other income (expense) in the Consolidated Statements of Income.
During 2012, the Company completed the acquisition of eCircle, a leading full service digital marketing provider in Europe, and other equity investments for $274 million.