Other Income, Net
Other income, net was comprised of the following:
|
| | | | | | | | | | | |
(Dollars in Millions) | 2013 | | 2012 | | 2011 |
Income under Tyco tax sharing agreement (note 20) | $ | 71 |
| | $ | 30 |
| | $ | 29 |
|
Gain (loss) on investments, net | 33 |
| | 4 |
| | (7 | ) |
Loss on early retirement of debt | (20 | ) | | (9 | ) | | — |
|
Gain on demutualization of insurance carrier | 5 |
| | — |
| | — |
|
Other income, net | $ | 89 |
| | $ | 25 |
| | $ | 22 |
|
Income under Tyco tax sharing agreement represents the increase to the receivable from Tyco International and TE Connectivity. These amounts reflect 58% of the interest and other income tax payable amounts recorded during each period that are subject to the Tyco tax sharing agreement.
During fiscal 2013, the Company recorded a net gain on investments primarily associated with its acquisition of CVI and the sale of an investment. In addition, the Company paid $41 million in connection with the extinguishment of a capital lease during fiscal 2013, which resulted in a $20 million loss on the early retirement of debt.
