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Other Expense (Income), Net
12 Months Ended
Dec. 31, 2013
Other Nonoperating Income (Expense) [Abstract]  
Other Expense (Income), Net
Other Expense (Income), Net
As part of our cash management, we have intercompany loans between our subsidiaries. These loans are deemed to be temporary and, as a result, remeasurement gains/losses are recorded in other expense(income), net, on the Consolidated Statements of Income. We had a net currency gain in 2012 of $2.6 million and a net currency loss of of $1.5 million in 2013, mainly due to the remeasurement of intercompany loans and the effect of transaction gains and losses on intercompany activities.
Other income in 2012, also includes $4.0 million of insurance reimbursements for claims made related to flood damages incurred at our Clarksburg, West Virginia facility during 2011. Additionally, during 2013 we recorded a $2 million gain for the favorable resolution of a previously recorded loss contingency.