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Other, Net
 9 Months Ended
Sep. 30, 2017
Other Net [Abstract]  
Other, Net
Other Income/(Expense), Net
The components of Other income/(expense), net for the three and nine months ended September 30 are as follows:
 
Three months ended
 
Nine months ended
In millions
2017

2016
 
2017
 
2016
Interest income
$
2.3

 
$
0.8

 
$
6.7

 
$
5.4

Exchange gain (loss)
(2.0
)
 
(3.1
)
 
(3.5
)
 
6.2

Other components of net periodic benefit cost
(7.3
)
 
(8.0
)
 
(21.7
)
 
(24.2
)
Income (loss) from equity investment
—

 
—

 
—

 
(0.8
)
Income (loss) from Hussmann equity investment
—

 
—

 
—

 
397.8

Other activity, net
(0.6
)
 
4.0

 
(5.3
)
 
6.1

Other income/(expense), net
$
(7.6
)
 
$
(6.3
)
 
$
(23.8
)
 
$
390.5

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. In addition, the Company includes the components of net periodic benefit cost for pension and post retirement obligations other than the service cost component as a result of the adoption of ASU 2017-07. Other activity, net include costs associated with Trane U.S. Inc. for the settlement and defense of asbestos-related claims, insurance settlements on asbestos-related matters and the revaluation of asbestos recoveries. Refer to Note 18, "Commitments and Contingencies," for more information regarding asbestos-related matters.
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.