75 Amortization Interest Expense Gain on Sale of Investments Other Revenue Income Taxes Equity Earnings from Investees Amortization increased from $7.4 million in 1999 to $13.4 million in 2000,  an increase of 81%. Amortization includes amortization of goodwill and broadcast licenses. Goodwill and broadcast licenses increased from $242.6 million in 1999 to $757.7 million in 2000 as a result of the various acquisitions. Interest expense increased from $27.0 million in 1999 to $30.4 million in 2000. Interest expense includes interest paid on long-term debt, commitment fees, and cost of hedging. Our effective interest rate for the year was 10.2%, compared to 9% in 1999. The Company realized a pretax gain of $197.7 million in fiscal 2000 on the sale of investments. There were no gains in 1999. The gain consisted of $11.3 million on the sale of Headline Sports, $105.2 million on the sale of the shares of Liberty Digital Inc. and $81.2 million on the sale of the shares of CTV Inc.  Other revenue consists of interest income on investments and dividend income. Other revenue in 2000 was $9.5 million compared to $2.0 million last year, an increase of 375%. The effective interest rate on invested cash was 5.63% in fiscal 2000. Last year’s other revenue consisted of dividend income from the investment in WIC. The effective tax rate in fiscal 2000 was 30%, compared to 44% in fiscal 1999. The lower tax rate in fiscal 2000 is a result of the lower effective capital gains rate applied to our significant gain on the sale of investments. Equity earnings from investees increased from $1.5 million in 1999 to $2.1 million in fiscal 2000, an increase of 40%. The increase was primarily a result of improved earnings from TELETOON. 