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BCO » Topics » Interest and Other Income, Net

This excerpt taken from the BCO 10-K filed Feb 27, 2007.

Interest and Other Income, Net

 

      Years Ended December 31,     % change  

(In millions)

    2006     2005    2004     2006    2005  

Interest income

    $ 13.9     4.7    3.8     196    24  

Dividend income from real estate investment

      5.1     4.1    —       24    NM  

Gains on sales of marketable securities, net

      1.0     0.2    4.3     200+    (95 )

Senior Notes prepayment make-whole amount

      (1.6 )   —      —       NM    —    

Other, net

      (1.5 )   0.3    (0.2 )   NM    NM  
                              

Total

    $ 16.9     9.3    7.9     82    18  
                              

Interest income increased in 2006 from 2005 due to the higher average levels of marketable securities acquired with a portion of the proceeds from the sale of BAX Global. The Company divested these securities prior to December 31, 2006.

Dividend income in 2006 was higher than 2005 due to higher payouts from a real estate investment. The Company does not expect to receive any dividends on its real estate investment in 2007.

The Company made a $1.6 million make-whole payment associated with the prepayment of the Senior Notes in 2006.

Upon the restriction of the VEBA to pay benefits under the postretirement medical plans of the Company, unrealized gains of $4.4 million were recorded in 2004 within Gains on sales of marketable securities, net.

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