Interest and Other Nonoperating Income (Expense)

12 Months Ended

Dec. 31, 2022

Interest and Other Income [Abstract]

Interest and Other Nonoperating Income (Expense)


	Years Ended December 31,
(In millions)	2022		2021	2020

Interest income	$	23.6	12.1	5.6
Retirement benefit cost other than service cost	(16.7)		(38.7)	(37.9)
Foreign currency transaction gains (losses)(a)	2.4		0.4	(3.6)
Non-income taxes on intercompany billings(b)	(2.3)		(3.9)	(4.6)
Argentina turnover tax	(1.8)		—	—
Gain (loss) on equity securities(c)	—		16.0	10.6
G4S indemnification asset adjustment(d)	—		2.7	—

Penalties and interest on non-income taxes(e)	—		(1.8)	—
Gains related to litigation(f)	—		1.7	—
Earn-out liability adjustment(g)	—		1.3	—
Interest on non-income tax credits(h)	—		1.2	—
Derivative instrument losses(i)	—		—	(7.0)
Gain on a disposition of a subsidiary(j)	—		—	4.1
Other	(1.5)		2.0	(4.9)
Interest and other nonoperating income (expense)	$	3.7	(7.0)	(37.7)

(a)Amounts primarily represent currency transaction gains and losses on contingent consideration payable related to G4S business acquisitions.

(b)Certain of our Latin American subsidiaries incur non-income taxes related to the billing of intercompany charges. These intercompany charges do not impact the Latin America segment results and are eliminated in our consolidation.

(c)The gain is primarily related to the market value increase of an investment in MoneyGram International, Inc. The investment was sold in 2021 and the gain was fully realized.

(d)Adjustment to indemnification asset related to business operations acquired from G4S. This adjustment was recognized outside of the measurement period for the related business operations acquired from G4S.

(e)Represents penalties and interest on non-income taxes that have not yet been paid.

(f)Related to a favorable court ruling in litigation with a customer of our Romania business. The court ruled that the customer must pay our subsidiary in Romania for services provided many years ago. The principal amount of the settlement is reported in operating income (expense). The penalties for years of non-payment are reported in interest and other nonoperating income (expense).

(g)Adjustment to the liability for contingent consideration pertaining to a 2019 business acquisition.

(h)Represents interest on non-income tax credits related to our business operations in Brazil. In the third quarter of 2021, our Brazil operations received a favorable court decision related to non-income taxes paid in prior years and will be able to recover the overpayments, plus interest, by reducing payments on future tax obligations.

(i)Represents loss on foreign currency forward contracts related to acquisition of business operations from G4S.

(j)This gain is primarily related to the sale of our former French security services subsidiary in the first quarter of 2020.