| |
19. Other (Income) Expense,
Net
2003 |
|
2002 |
|
2001 |
|
|
| (Gain) loss on sale of investments |
$ |
(877 |
) |
$ |
933 |
|
$ |
(336 |
) |
| Gain on divestitures of businesses |
(684 |
) |
(4,992 |
) |
– |
|
| Gain on sale of intangibles |
(550 |
) |
(4,184 |
) |
– |
|
| Loss on extinguishment of debt |
525 |
|
– |
|
23,453 |
|
|
| Total other (income) expense, net |
$ |
(1,586 |
) |
$ |
(8,243 |
) |
$ |
23,117 |
|
|
In 2003, the Company recorded a $0.9 million gain on sale of an
investment in a swine joint venture within the Feed segment. In
2002, the Company recorded a loss of $0.9 million, which was primarily
due to the sale of an investment in the Feed segment. In 2001, the
Company recorded a $0.3 million gain on the sale of investments,
primarily in the Agronomy segment.
In 2003, the divestiture of a powdered cocoa business in Dairy Foods
resulted in a gain of $1.4 million, which was partially offset by
the loss on a divestiture of a Feed business in Taiwan. The Company
recorded a gain on divestitures of businesses of $5.0 million in
2002, primarily from the sale of a seed coating business in Idaho
and a seed inoculation business in Brazil.
In 2003, the Company recorded a $0.6 million gain on the sale of
a customer list relating to the divestiture of a joint venture in
Taiwan. In 2002, the Company recorded a $4.2 million gain on the
sale of a customer list pertaining to the feed phosphate distribution
business.
In 2003, a prepayment penalty on Term B loan resulted in a loss
of $0.5 million. In 2001, the early extinguishment of previous credit
facilities resulted in a loss of $23.5 million.
|
