v2.4.0.6
OTHER INCOME (EXPENSE)
 12 Months Ended
Dec. 31, 2011
OTHER INCOME (EXPENSE) [Abstract]  
OTHER INCOME (EXPENSE)
OTHER (EXPENSE) INCOME
Other (expense) income consisted of the following:
 
Year Ended December 31,
 
2011
 
2010
 
2009
 
(Thousands of Dollars)
Storage agreement early termination costs
$
(5,000
)
 
$
—

 
$
—

Contingent loss adjustment
(3,250
)
 
—

 
—

Gain from insurance recoveries
—

 
13,500

 
9,382

Gain (loss) from sale or disposition of assets
262

 
(510
)
 
21,320

Foreign exchange gains (losses)
2,078

 
(1,507
)
 
(5,118
)
Other, net
2,619

 
4,451

 
6,275

Other (expense) income, net
$
(3,291
)
 
$
15,934

 
$
31,859



For the year ended December 31, 2011, "Other (expense) income, net" included $5.0 million in costs associated with the early termination of a third-party storage agreement at our Paulsboro, New Jersey asphalt refinery and a contingent loss adjustment of $3.3 million related to the Eres matter discussed in Note 13. Commitments and Contingencies.
The gain from insurance recoveries for the years ended December 31, 2010 and 2009 resulted from insurance claims related to damage primarily at our Texas City, Texas terminal caused by Hurricane Ike in 2008. The gain (loss) from sale or disposition of assets for the year ended December 31, 2009 includes a gain of $21.4 million related to the June 15, 2009 sale of the Ardmore-Wynnewood pipeline in Oklahoma and the Trans-Texas pipeline.