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Other (Income) Expense, net
12 Months Ended
Dec. 31, 2011
Other (Income) Expense, net  
Other (Income) Expense, net

Note 18 — Other (Income) Expense, net

 

Other (income) expense, net for the three years ended December 31, 2011, consisted of the following:

 

(In millions)

 

2011

 

2010

 

2009

 

Pension curtailment gain

 

$

(5.7

)

$

 

$

 

Environmental expense

 

2.7

 

3.5

 

1.7

 

Legal settlement expense

 

 

 

7.5

 

Contingent payment received on sale of EBGI business

 

 

 

(1.7

)

Other (income) expense, net

 

$

(3.0

)

$

3.5

 

$

7.5

 

 

Effective January 31, 2011, credited service for the participants in our U.K. plan was frozen.  This resulted in recognizing $5.7 million of prior unrecognized service credits as a curtailment gain and also reduced the projected plan obligation by $1.6 million.  Also in 2011, the Company recorded an additional $2.7 million in expense for additional environmental reserves primarily to remediate our former Lodi, New Jersey manufacturing facility that was sold in 1986 as further discussed in Note 14 to the consolidated financial statements.

 

In 2010, the Company made a decision to enhance the remediation system to accelerate completion of the remediation and increased its environmental accruals for the Lodi, New Jersey site by $3.5 million.

 

In 2009, the Company recorded a $7.5 million charge related to a license agreement, settling a previously disclosed legal matter.  In addition, in 2009 the Company recorded a $1.7 million environmental expense due to an increase in the expected remediation costs at two previously sold operations. Also in 2009, the Company recorded a $1.7 million adjustment to a gain on a prior year sale of a business, primarily due to the receipt of an earnout payment from the buyer.