Other Income (Expenses)
Other income (expenses) consisted of the following:
|
| | | | | | | | | | | | |
(in millions) | | | | | | |
for the fiscal years ended September 30, | | 2013 | | 2012 | | 2011 |
Investment and Other Income, Net | | | | | | |
Dividend income | | $ | 10.8 |
| | $ | 22.5 |
| | $ | 35.7 |
|
Interest income | | 7.5 |
| | 12.5 |
| | 11.0 |
|
Gains (losses) on trading investment securities, net | | 8.7 |
| | 34.7 |
| | (1.3 | ) |
Realized gains on sale of investment securities, available-for-sale | | 50.9 |
| | 41.0 |
| | 65.5 |
|
Realized losses on sale of investment securities, available-for-sale | | (0.9 | ) | | (2.2 | ) | | (0.3 | ) |
Income (loss) from investments in equity method investees | | 74.0 |
| | 68.6 |
| | (1.1 | ) |
Other-than-temporary impairment of investments | | (2.4 | ) | | (10.1 | ) | | (13.6 | ) |
Gains (losses) on investments of consolidated SIPs, net | | 42.4 |
| | (15.9 | ) | | (36.1 | ) |
Gains (losses) on assets and liabilities of consolidated VIEs, net | | (16.0 | ) | | 25.6 |
| | (80.0 | ) |
Foreign currency exchange gains (losses), net | | (30.9 | ) | | 7.1 |
| | 3.3 |
|
Other, net | | 8.1 |
| | 15.9 |
| | 18.7 |
|
Total | | 152.2 |
| | 199.7 |
| | 1.8 |
|
Interest Expense | | (46.9 | ) | | (36.7 | ) | | (37.4 | ) |
Other Income (Expenses), Net | | $ | 105.3 |
| | $ | 163.0 |
| | $ | (35.6 | ) |
Substantially all of the Company’s dividend income and realized gains and losses on sale of available-for-sale securities were generated by investments in its non-consolidated SIPs. Interest income was primarily generated by cash equivalents and investments in trading securities and debt securities of U.S. states and political subdivisions. Proceeds from the sale of available-for-sale securities were $367.1 million, $578.1 million and $477.5 million for fiscal years 2013, 2012 and 2011. The realized gains and losses on sale of available-for-sale securities and the amounts of other-than-temporary impairment of investments related to available-for-sale securities were reclassified into investment and other income, net from accumulated other comprehensive income.
Net gains (losses) recognized on the Company's trading investment securities that were held at September 30, 2013, 2012 and 2011 were $0.6 million, $24.0 million and $(9.1) million. Net gains (losses) recognized on trading investment securities of consolidated SIPs that were held at September 30, 2013, 2012 and 2011 were $12.2 million, $22.9 million and $(39.0) million.
