Other Income/(Expense), Net

The components of Other income/(expense), net for the three months ended March 31 are as follows:



	Three months ended
In millions	2017			2016
Interest income	$	3.1		$	2.0
Exchange gain (loss)	1.9			5.5
Other components of net periodic benefit cost	(8.2		)	(8.1		)
Income (loss) from Hussmann equity investment	—			(0.8		)
Other activity, net	(1.5		)	3.3
Other income/(expense), net	$	(4.7	)	$	1.9

Other income /(expense), net includes the results from activities other than normal business operations such as interest income and foreign currency gains and losses on transactions that are denominated in a currency other than an entity’s functional currency. Other components include insurance settlements on asbestos-related matters and the revaluation of asbestos recoveries. In addition, the Company includes the components of net periodic benefit cost for pension and post retirement obligations other than the service cost component within Other income/(expense), net as a result of the adoption of ASU 2017-07.

Sale of Hussmann Equity Investment

During 2011, the Company completed the sale of a controlling interest in its Hussmann refrigerated display case business (“Hussmann”) to a newly-formed affiliate (“Hussmann Parent”) of private equity firm Clayton Dubilier & Rice, LLC (“CD&R”). Per the terms of the agreement, CD&R’s ownership interest in Hussmann at the acquisition date was 60% with the remaining 40% being retained by the Company. As a result, the Company accounted for its interest in Hussmann using the equity method of accounting.

On December 21, 2015, the Company announced it would sell its remaining equity interest in Hussmann as part of a transaction in which Panasonic Corporation would acquire 100 percent of Hussmann's outstanding shares. The transaction was completed on April 1, 2016. The Company received net proceeds of $422.5 million, including closing settlement amounts, for its interest and recognized a gain of $397.8 million on the sale during the second quarter of 2016.