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Other (Income) Expense
 12 Months Ended
Dec. 31, 2018
Other Income and Expenses [Abstract]  
Other (Income) Expense, Net
OTHER (INCOME) EXPENSE, NET

The components of other (income) expense, net, for the years ended December 31, 2018, 2017 and 2016 are as follows (in thousands):
 
 
2018
 
2017
 
2016
Sale of assets
 
$
(1,078
)
 
$
(346
)
 
$
(618
)
Results of non-consolidated subsidiaries
 
(203
)
 
(332
)
 
(506
)
Foreign exchange
 
2,598

 
951

 
1,776

Rents and royalties
 
(510
)
 
(454
)
 
(420
)
Return on pension assets and other pension costs
 
(644
)
 
(587
)
 
(605
)
Acquisition-related costs
 
623

 
—

 
—

Insurance settlement
 
(707
)
 
—

 
—

Severance, compensation and other charges
 
—

 
1,145

 
—

Other, net
 
(816
)
 
255

 
(27
)
Total Other (income) expense, net
 
$
(737
)
 
$
632

 
$
(400
)


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 for the years ended December 31, 2018, 2017 and 2016 are summarized in the following table (in thousands):
(Gains) losses by currency
2018
 
2017
 
2016
 
Angolan Kwanza Spot
$
202

 
$
(3
)
 
$
408

 
Australian Dollar
183

 
12

 
136

 
British Pound
158


(92
)

807

 
Canadian Dollar
458


(62
)

(130
)
 
Euro
208


1,413


(49
)
 
Indonesian Rupiah
297

 
80

 
29

 
Mexican Peso
141

 
23

 
(47
)
 
Turkish Lira
300

 
32

 
93

 
Other currencies, net
651


(452
)

529

Total (gain) loss, net
$
2,598

 
$
951

 
$
1,776