Other Income (Expense), Net

9 Months Ended

Sep. 26, 2024

Other Nonoperating Income (Expense) [Abstract]

Other income (expense), net is summarized as follows:


	For the Three Months Ended				For the Nine Months Ended
	September 26, 2024		September 28, 2023		September 26, 2024		September 28, 2023
Kansas Development Finance Authority bond	$	0.8	$	0.7	$	2.6	$	2.1

Interest income	1.2		2.4		7.8		8.0
Foreign currency (losses) gains (1)	(28.0)		12.9		(24.1)		(0.4)
(Loss) gain on foreign currency forward contract	3.0		3.8		2.9		1.7
Loss on sale of accounts receivable	(13.6)		(13.2)		(35.1)		(36.5)
Pension (expense) income (2)	4.0		1.7		11.2		(59.0)
Excise tax on pension assets reversion (3)	—		—		—		(35.9)

Other(4)	(0.4)		(1.0)		4.4		—
Total	$	(33.0)	$	7.3	$	(30.3)	$	(120.0)

(1) Foreign currency gains and losses are due to the impact of movement in foreign currency exchange rates on long-term contractual rights/obligations, as well as cash and both trade and intercompany receivables/payables that are denominated in a currency other than the entity’s functional currency.

(2) See Note 15 Pension and Other Post-Retirement Benefits. Pension expense for the nine months ended September 28, 2023 includes a $64.6 non-cash, pre-tax non-operating settlement charge related to the PVP A termination.

(3) Excise tax related to the reversion of excess plan assets for the nine months ended September 28, 2023. See Note 15 Pension and Other Post-Retirement Benefits.