4.10 Other (expense) income
- 2016 Annual Report
- MANAGEMENT’S DISCUSSION AND ANALYSIS
- REPORTS ON INTERNAL CONTROL
- CONSOLIDATED FINANCIAL STATEMENTS
- NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Other income (expense) includes income and expense items, such as:
- Net mark-to-market gains or losses on derivatives used as economic hedges
- Net gains or losses on investments, including gains or losses when we dispose of, write down or reduce our ownership in investments
- Equity (loss) income from investments in associates and joint ventures
- Losses on disposal and retirement of software, plant and equipment
- Early debt redemption costs
- Impairment of assets
Other income of $21 million included net mark-to-market gains of $67 million on derivatives used as economic hedges of share-based compensation and U.S. dollar purchases and gains on investments of $58 million which included a gain related to one of our equity investments of $34 million, as well as a gain of $12 million due to the remeasurement of BCEs previously held equity interest in Q9 to its fair value. These were partly offset by losses of $89 million on equity investments which included BCEs share of the loss recorded by one of our equity investments on the sale of a portion of their operations of $46 million and $11 million equity losses on our share of an obligation to repurchase at fair value the minority interest in one of BCEs joint ventures. Additionally, BCE recorded losses of $28 million on disposal of software, plant and equipment.
Other expense included losses on disposal of software, plant and equipment of $55 million, a net impairment charge of $49 million mainly related to Bell Medias music properties resulting from revenue and profitability declines from lower viewership and higher TV content costs, and losses totalling $49 million from our equity investments which included a loss on investments of $54 million representing our share of an obligation to repurchase at fair value the minority interest in one of BCEs joint ventures. These factors were partly offset by a gain on investments of $72 million mainly due to a $94 million gain on the sale of our 50% ownership interest in Glentel to Rogers Communications Inc. (Rogers), and net mark-to-market gains of $54 million on derivatives used as economic hedges of share-based compensation and U.S. dollar purchases.