XML 36 R24.htm IDEA: XBRL DOCUMENT v3.21.1
OTHER
 3 Months Ended
Mar. 31, 2021
Other Income and Expenses [Abstract]  
OTHER OTHER
Other general expense - net
Included in Other general expense - net were the following:
Three Months Ended
March 31,
 20212020
Provisions for environmental matters - net$2.5 $2.2 
Loss on divestiture of business (see Note 3)111.9 — 
Loss on sale or disposition of assets3.1 1.5 
Other general expense - net$117.5 $3.7 
Provisions for environmental matters - net represent initial provisions for site-specific estimated costs of environmental investigation or remediation and increases or decreases to environmental-related accruals as information becomes available upon which more accurate costs can be reasonably estimated and as additional accounting guidelines are issued. Environmental-related accruals are not recorded net of insurance proceeds in accordance with the Offsetting Subtopic of the Balance Sheet Topic of the ASC. See Note 8 for further details on the Company’s environmental-related activities.
The loss on sale or disposition of assets represents net realized losses associated with the sale or disposal of property, plant and equipment and intangible assets previously used in the conduct of the primary business of the Company.
Other (income) expense - net
Included in Other (income) expense - net were the following:
Three Months Ended
March 31,
 20212020
Investment and royalty (income) expense$(6.5)$2.3 
Loss on extinguishment of debt (see Note 6)
— 21.3 
Net expense from banking activities2.6 2.8 
Foreign currency transaction related losses2.5 3.9 
Miscellaneous pension expense0.9 1.2 
Other income(5.2)(10.8)
Other expense3.5 1.7 
Other (income) expense - net$(2.2)$22.4 
Foreign currency transaction related losses include the impact from foreign currency transactions and net realized losses from foreign currency option and forward contracts. There were no material foreign currency option and forward contracts outstanding at March 31, 2021 and 2020.
Miscellaneous pension expense consists of the non-service components of net pension costs (credits). See Note 7.
Other income and Other expense included items of revenue, gains, expenses and losses that were unrelated to the primary business purpose of the Company. There were no other items within the Other income or Other expense caption that were individually significant.