US Airways 2011 Annual Report Download - page 60
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Table of Contents
Nonoperating Income (Expense):
Percent
Increase
2011 2010 (Decrease)
(In millions)
Nonoperating income (expense):
Interest income $ 4 $ 13 (66.6)
Interest expense, net (225) (233) (3.8)
Other, net (a) (14) 39 nm
Total nonoperating expense, net $ (235) $ (181) 28.9
(a) Other nonoperating expense of $14 million in 2011 consisted primarily of $17 million in net foreign currency losses as a result of the overall
strengthening of the U.S. dollar in 2011, $6 million in debt prepayment penalties and non-cash write offs of certain debt issuance costs and $2 million
of losses related to investments in auction rate securities. These nonoperating expenses in the 2011 period were offset in part by a $15 million credit in
connection with an award received in an arbitration involving investments in auction rate securities.
Other nonoperating income of $39 million in 2010 consisted primarily of $53 million of net realized gains related to the sale of certain investments in
auction rate securities as well as an $11 million settlement gain. These gains were offset in part by $17 million in net foreign currency losses as a result
of the overall strengthening of the U.S. dollar in 2010 and $5 million in non-cash charges related to the write off of debt issuance costs.
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