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Other (Income) Expense
 12 Months Ended
Dec. 31, 2015
Other (Income) Expense, net [Abstract]  
Other Income and Other Expense Disclosure [Text Block]
The components of other (income) expense, net, are as follows (in thousands):
 
 
For the Years Ended December 31,
 
 
2015
 
2014
 
2013
Sale of assets
 
$
(408
)
 
$
(764
)
 
$
(909
)
Results of non-consolidated subsidiaries
 
(383
)
 
(364
)
 
(177
)
Foreign exchange
 
4,507

 
4,230

 
4,339

Interest income
 
(56
)
 
(403
)
 
(776
)
Rents and royalties
 
(484
)
 
(817
)
 
(863
)
Insurance and other settlements
 
—

 
(292
)
 
(1,611
)
Other, net
 
493

 
(521
)
 
(341
)
Total other (income) expense, net
 
$
3,669

 
$
1,069

 
$
(338
)


We incurred property losses due to Hurricane Isaac in 2012. During 2013, our insurance claim for property losses and business interruption was fully settled for $1.6 million.

Foreign Currency Risk

We operate in a number of international areas which exposes us to foreign currency exchange rate risk. We do not currently hold or issue forward exchange contracts or other derivative instruments for hedging or speculative purposes (a foreign exchange contract is an agreement to exchange different currencies at a given date and at a specified rate). Foreign exchange gains and losses are the result of fluctuations in the USD against foreign currencies and are included in other (income) expense, net in the Consolidated Statements of Operations. We recognized foreign exchange losses in countries where the USD weakened against the local currency and we had net monetary liabilities denominated in the local currency; as well as countries where the USD strengthened against the local currency and we had net monetary assets denominated in the local currency. We recognized foreign exchange gains in countries where the USD strengthened against the local currency and we had net monetary liabilities denominated in the local currency and in countries where the USD weakened against the local currency and we had net monetary assets denominated in the local currency. Foreign exchange gains and losses are summarized in the following table (in thousands):
 
For the Years Ended December 31,
(Gains) losses by currency
2015
 
2014
 
2013
 
Australian Dollar
$
238


$
289


$
432

 
British Pound
434


1,132


(49
)
 
Canadian Dollar
1,848


1,886


1,456

 
Euro
(908
)

(1,537
)

848

 
Malaysian Ringgit
545


278


421

 
Mexican Peso
414


284


156

 
Nigerian Naira
630


432


94

 
Other currencies, net
1,306


1,466


981

Total (gain) loss, net
$
4,507

 
$
4,230

 
4,339