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Other Income (Expense)
12 Months Ended
Dec. 31, 2021
Other Income and Expenses [Abstract]  
Other Income and Other Expense Disclosure [Text Block]
Note 9 – Other Income (Expense), net
Other income (expense), net, for the years ended December 31,
 
2021, 2020 and 2019 are as follows:
2021
2020
2019
Income from third party license fees
$
1,367
$
999
$
1,035
Foreign exchange (losses) gains, net
(3,821)
(6,082)
223
Gain (loss) on disposals of property,
 
plant, equipment and other
 
assets, net
4,695
(871)
58
Non-income
 
tax refunds and other related credits
15,155
3,345
1,118
Pension and postretirement benefit income (costs), non-service
 
components
759
(21,592)
(2,805)
Gain on changes in insurance settlement restrictions of an inactive
 
subsidiary and related insurance insolvency recovery
-
18,144
60
Other non-operating income, net
696
439
57
Total other income
 
(expense), net
$
18,851
$
(5,618)
$
(254)
Gain (loss) on disposals of property,
 
plant, equipment and other assets, net, includes losses related to certain fixed
 
assets disposals
resulting from the property damage caused by flooding of the Company’s
 
Conshohocken, Pennsylvania headquarters in 2021,
described in Note 26 of Notes to Consolidated Financial Statements, as well as a gain
 
in 2021 and a loss in 2020 on the sale of certain
held-for-sale real property assets related to the Combination,
 
described in Note 7 of Notes to Consolidated Financial Statements.
 
Non-
income tax refunds and other related credits during the year ended
 
December 31, 2021 includes certain non-income tax credits for the
Company’s Brazilian subsidiaries
 
described in Note 26 of Notes to Consolidated Financial Statements.
 
Pension and postretirement
benefit income (costs), non-service components during the year ended December
 
31, 2020 include a $
1.6
 
million refund in premium
and a $
22.7
 
million non-cash settlement charge related to the Legacy Quaker
 
U.S. Pension Plan, as described in Note 21 of Notes to
Consolidated Financial Statements.
 
Gain on changes in insurance settlement restrictions of an inactive subsidiary
 
and related
insurance insolvency recovery relate to the termination of restrictions over
 
certain cash that was previously designated solely to be
used for settlement of asbestos claims at an inactive subsidiary of the Company
 
and cash proceeds from an insolvent insurance carrier
with respect to previously filed recovery claims.
 
See Note 12, Note 19 and Note 26 of Notes to Consolidated Financial Statements.
 
Foreign exchange (losses) gains, net, during the years ended December
 
31, 2021, 2020 and 2019, include foreign currency transaction
losses of approximately $
0.6
 
million, $
0.4
 
million and $
1.0
 
million, respectively,
 
related to hyper-inflationary accounting for the
Company’s Argentine
 
subsidiaries.
 
See Note 1 of Notes to Consolidated Financial Statements.