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Other (Income)/Expense, net
 6 Months Ended
Jun. 30, 2024
Other Income and Expenses [Abstract]  
Other (Income)/Expense, net Other (Income)/Expense, net
The components of Other (income)/expense, net are:
Three months ended June 30,Six months ended June 30,
(in thousands)
2024202320242023
Currency transaction (gains)/losses$150 $(4,193)$(1,142)$(4,133)
Derivative instruments losses/(gains)4,391 (138)4,273 (123)
Bank fees and amortization of debt issuance costs
77 33 121 91 
Components of net periodic pension and postretirement cost other than service cost664 (120)1,332 (245)
Other375 (93)(1,909)(556)
Total other (income)/expense, net$5,657 $(4,511)$2,675 $(4,966)
Other (income)/expense, net, included foreign currency related transactions which resulted in losses of $0.2 million and gains of $1.1 million in the three and six months ended June 30, 2024, respectively, as compared to gains of $4.2 million and $4.1 million in the same period last year. In addition, changes in the fair value of derivative instruments included losses of $4.4 million and $4.3 million in the three and six months ended June 30, 2024, as compared to gains of $0.1 million and $0.1 million in the same period last year, driven by currency rate movements, most notably the Brazilian Real and Mexican Peso. Net periodic pension and postretirement costs, other than service costs, were $0.7 million and $1.3 million in the three and six months ended June 30, 2024, respectively, as compared to benefits of $0.1 million and $0.2 million in the same period last year. Other (income)/expense, net, also included net proceeds of $0.5 million from the divestiture of assets related to Heimbach during the three and six months ended June 30, 2024, as well as bank fees, amortization of debt issuance costs, and rental income.