Raytheon 2005 Annual Report Download - page 113

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
Buy amounts represent the U.S. dollar equivalent of commitments to purchase foreign currencies and sell amounts
represent the U.S. dollar equivalent of commitments to sell foreign currencies. Foreign exchange contracts that do not
involve U.S. dollars have been converted to U.S. dollars for disclosure purposes.
Foreign currency forward contracts, used to fix the dollar value of specific commitments and payments to international
vendors and the value of foreign currency denominated receipts, have maturities at various dates through 2013 as follows:
$1,093 million in 2006, $407 million in 2007, $168 million in 2008, $21 million in 2009, and $29 million thereafter.
Note R: Other Income and Expense
The components of other (income) expense, net were as follows:
(In millions) 2005 2004 2003
(Gain) loss on sale of investments $(45) —$7
Securities and Exchange Commission settlement offer 12 ——
Loss on repurchases of long-term debt and subordinated notes payable 10 $132 77
Securities class action lawsuit settlement —325 —
Gain on sale of commercial infrared business —(10) —
Gain on sale of aviation support business —(4) (82)
Equity losses related to Flight Options ——20
Other 10 (7) 45
Total $(13) $436 $ 67
In 2005, the Company sold its investment in Indra ATM S.L., a Spanish joint venture for $59 million and recorded a gain
of $45 million.
In 2003, the Company sold the remaining interest in its former aviation support business (Raytheon Aerospace) for $97
million and recorded a gain of $82 million. In 2004, the Company resolved a dispute related to the sale and received an
additional $4 million. The Company had sold a majority interest in Raytheon Aerospace in 2001 and retained a 26%
ownership interest that was recorded at zero because the new entity was highly-leveraged.
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