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Other (Expense) Income, net
 12 Months Ended
Dec. 31, 2021
Other Income and Expenses [Abstract]  
Other (Expense) Income, net Other (Expense) Income, net
The following table provides details of other (expense) income, net:
 Year Ended December 31,
(In millions)202120202019
Net foreign exchange transaction (loss) gain$(0.7)$1.7 $(7.7)
Bank fee expense(5.0)(6.3)(5.0)
Pension income other than service costs4.4 0.9 1.0 
Increase in fair value of equity investments6.6 15.1 — 
Impairment of debt investment(1)
(8.0)— — 
Foreign currency exchange loss due to high inflationary economies(3.6)(4.7)(4.6)
Loss on debt redemption and refinancing activities(18.6)— (16.1)
Other income(2)
13.2 11.3 13.6 
Other (expense)(5.2)(5.5)(5.3)
Other (expense) income, net$(16.9)$12.5 $(24.1)
 
       
(1)During the year ended December 31, 2021, SEE made investments totaling $8.0 million in another company's convertible debt. Based on information available to SEE specific to the investee and our current expectations of recoverability, we recorded a credit loss resulting in an $8.0 million impairment (establishment of allowance) of the convertible debt investment during the fourth quarter of 2021. SEE maintains no other available-for-sale debt securities as of December 31, 2021. The total allowance for credit losses related to available-for-sale debt securities as of December 31, 2021 is $8.0 million.
(2)During the year ended December 31, 2019, we recorded $4.8 million to other income related to a claim for the overpayment of certain indirect taxes paid by Sealed Air subsidiaries in Brazil, resulting from a double taxation calculation. The 2019 income was recorded as a result of a lower court decision regarding the matter. During the year ended December 31, 2021, the Supreme Court of Brazil issued a final decision that clarified the methodology companies should use in the calculation. Based on the updated methodology approved by the Brazilian Supreme Court, we recorded $5.0 million to other income during the year ended December 31, 2021.