Other Income and Expenses

9 Months Ended

Sep. 30, 2023

Other Income and Expenses [Abstract]

Other Nonoperating Income and Expense

Non-operating Income, Net

The following table presents the components of Non-operating income, net:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
	(In millions)
Interest income	$	11.6	$	4.6	$	33.8	$	6.4
Other, net	1.5		0.3		3.3		0.4
Total non-operating income, net	$	13.1	$	4.9	$	37.1	$	6.8

Interest income is earned principally from the Company’s surplus cash balances and marketable securities. The increase in interest income during the three and nine months ended September 30, 2023 reflects higher interest rates on the Company’s investments in debt securities. The increase in other non-operating income, net, during the three and nine months ended September 30, 2023 primarily reflects net gains and losses from the Company’s foreign currency exposure and related hedges.