XML 35 R18.htm IDEA: XBRL DOCUMENT v3.24.0.1
Other (Expense) Income, net
 12 Months Ended
Dec. 31, 2023
Other Income and Expenses [Abstract]  
Other (Expense) Income, net Other (Expense) Income, net
Other (expense) income, net for the years ended December 31, 2023, 2022 and 2021 are as follows:
202320222021
Income from third party license fees$1,210 $1,268 $1,367 
Foreign exchange losses, net(14,785)(9,399)(3,821)
Gain on disposals of property, plant, equipment and other assets, net1,307 168 4,695 
Non-income tax refunds and other related credits (expense) 1,339 (1,613)15,155 
Pension and postretirement benefit (costs) income, non-service components(2,033)1,704 759 
Loss on extinguishment of debt— (6,763)— 
Facility remediation recoveries, net2,141 1,804 — 
Other non-operating income, net149 224 696 
Total other (expense) income, net$(10,672)$(12,607)$18,851 
Foreign exchange losses, net, during the years ended December 31, 2023, 2022 and 2021, include foreign currency transaction losses of approximately $7.8 million, $1.6 million and $0.6 million, respectively, related to hyper-inflationary accounting. See Note 1 for additional information.
Gain on disposals of property, plant, equipment and other assets, net, includes losses related to certain fixed asset disposals resulting from the property damage caused by flooding of the Company’s Conshohocken, Pennsylvania headquarters in 2021, described in Note 25 of Notes to Consolidated Financial Statements. This caption also includes gains in 2023, 2022 and 2021 on the sale of certain held-for-sale real property assets, described in Note 7 of Notes to Consolidated Financial Statements.
Non-income tax refunds and other related credits (expense) during the year ended December 31, 2023 and 2022 includes adjustments to a Combination-related indemnification asset associated with the settlement of certain income tax audits at certain of the Company’s Italian and German affiliates for tax periods prior to August 1, 2019, whereas during the year ended December 31, 2021, this includes certain non-income tax credits for the Company’s Brazilian subsidiaries described in Note 25 of Notes to Consolidated Financial Statements.
Loss on extinguishment of debt during the year ended December 31, 2022 includes the write-off of certain previously unamortized deferred financing costs as well as a portion of the third party and creditor debt issuance costs incurred to execute an amendment to the Company’s primary credit facility. See Note 19 for additional information.
Facility remediation recoveries, net for the years ended December 31, 2023 and 2022 reflects payments received from insurers related to the property damage incurred during 2021, noted above. See Notes 18 and 25 for additional information.