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Other Income, Net | 6 Months Ended
--- | ---
Jun. 30, 2014
Other Income and Expenses [Abstract] |
Other Income, Net | Other Income, Net
| Three Months Ended | Six Months Ended
| June 30, | June 30,
| 2014 | 2013 | 2014 | 2013
Royalty income | $ | 34 |  | $ | 50 |  | $ | 72 |  | $ | 87 |
Interest income | 43 |  | 45 |  | 71 |  | 72 |
Equity in earnings (losses) of affiliates, excluding exchange gains/losses 1 | 9 |  | (7 | ) | 22 |  | (14 | )
Gain on sale of equity method investment | — |  | 9 |  | — |  | 9 |
Net gain on sales of businesses and other assets | 404 |  | 5 |  | 411 |  | 10 |
Net exchange (losses) gains 1 | (109 | ) | 35 |  | (205 | ) | 46 |
Cozaar®/Hyzaar® income | — |  | 12 |  | 1 |  | 14 |
Miscellaneous income and expenses, net 2 | 27 |  | 10 |  | 53 |  | 27 |
Other income, net | $ | 408 |  | $ | 159 |  | $ | 425 |  | $ | 251 |
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 (losses) are recorded in other income, net and the related tax impact is recorded in provision for income taxes on continuing operations on the interim Consolidated Income Statements. Exchange gains (losses) related to earnings of affiliates was $0 and $(2) for the three and six months ended June 30, 2014, respectively. Exchange gains (losses) related to earnings of affiliates was $0 and $5 for the three and six months ended June 30, 2013, respectively. The $(109) net exchange loss for the three months ended June 30, 2014, includes $(58) and $(7) exchange losses, associated with the devaluation of the Venezuelan bolivar and Ukrainian hryvnia , respectively. The $(205) net exchange loss for the six months ended June 30, 2014, includes $(58), $(46) and $(14) exchange losses, associated with the devaluation of the Venezuelan bolivar, Ukrainian hryvnia, and Argentinian peso, respectively. The $35 and $46 net exchange gain for the three and six months ended June 30, 2013, includes a $3 exchange gain and a $(33) exchange loss, respectively, 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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- Definition The entire disclosure for other income or other expense items (both operating and nonoperating). Sources of nonoperating income or nonoperating expense that may be disclosed, include amounts earned from dividends, interest on securities, profits (losses) on securities, net and miscellaneous other income or income deductions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.3,6,7,9) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 3, 6, 7, 9 -Article 5 + Details
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