Note 8 – Other Income (Expense)

The caption "Other" on the accompanying consolidated statements of operations consists of the following:

	Years ended December 31,
	2018			2017			2016

Foreign exchange gain (loss)	$	(1,991	)	$	(4,536	)	$	292
Interest income		11,940			6,482			4,264
Investment income (expense)†		(1,646	)		-			-
Other		(266	)		(208	)		160
	$	8,037		$	1,738		$	4,716

† Recognized in "Other" subsequent to the prospective adoption of ASU 2016-01. Previously recorded in accumulated other comprehensive income until realized. See Note 1.

In 2018, we issued $600 million principal amount of 2.25% senior convertible notes due 2025 to qualified institutional investors. We used the net proceeds from this offering and cash repatriated to the United States (see Note 5) to repurchase $273,690, $116,922, and $147,832 principal amounts of convertible senior debentures due 2040, due 2041, and 2042, respectively, for $960,995. We recognized a $26,583 loss on early extinguishment of the repurchased convertible debentures in 2018.

In 2017, the Company sold its 50% interest in an investment accounted for using the equity method, and recorded a loss aggregating to $6,112. The $7,060 loss recorded in March 2017 included Vishay's proportionate share of the investee's accumulated other comprehensive loss of $1,110, recognized upon discontinuation of the equity investment, and the estimated cost of certain contingencies pending resolution related to the investee. In December 2017, the remaining contingencies related to the investee were favorably resolved and the Company reduced the loss by $948. The loss on disposal is not deductible for income tax purposes.

On August 12, 2015, a major explosion occurred in the port of Tianjin, China. Vishay owns and operates a diodes manufacturing facility in Tianjin near the port. The shockwave of the explosion resulted in some damage to the facility and caused a temporary shutdown. The Company's insurance coverage generally provides for replacement cost of damaged items. Any amount received in excess of the book value is treated as a gain. The Company also had business interruption claims under its insurance policies. During 2016, the Company received proceeds totaling $13,406 under its various insurance policies, of which $4,911 is classified as proceeds from the sale of property and equipment on the accompanying consolidated statement of cash flows, and the remainder is considered cash flows from operating activities. The Company recorded, as a separate line on the accompanying consolidated statement of operations for the year ended December 31, 2016, a gain of $8,809, equal to the proceeds received less the costs incurred for inventory, property, and equipment damage (at net book value) and related repair and clean-up costs.