Halliburton 2011 Annual Report Download - page 70

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55
NONOPERATING ITEMS
Interest expense, net of interest income decreased $34 million in 2011 compared to 2010 primarily
due to less interest expense as a result of the retirement of $750 million principal amount of our 5.5%
senior notes in October 2010 and lower interest rates on a portion of our debt as a result of our interest rate
swaps. This was partially offset by higher interest costs incurred in the fourth quarter of 2011 resulting
from our issuance of $1.0 billion of senior notes.
Other, net decreased $32 million from 2010 due to a $31 million loss on foreign currency
exchange recognized in 2010 as a result of the devaluation of the Venezuelan Bolívar Fuerte.
Income (loss) from discontinued operations, net increased $206 million in 2011 compared to 2010
primarily due to a $163 million charge, after-tax, recognized in 2011 related to a ruling in an arbitration
proceeding between Barracuda & Caratinga Leasing Company B.V. and our former subsidiary, KBR,
whom we agreed to indemnify.