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Other Expense (Income) | 12 Months Ended
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Dec. 31, 2022
Other Income and Expenses [Abstract] |
OTHER EXPENSE (INCOME) | OTHER EXPENSE (INCOME) Other General (Income) Expense - Net Included in Other general (income) expense - net were the following:
| 2022 |  | 2021 |  | 2020
Provisions for environmental matters - net | $ | (7.1) |  |  | $ | (4.0) |  |  | $ | 37.1 |
Loss on divestiture (see Note 3) | — |  |  | 111.9 |  |  | — |
Gain on sale or disposition of assets | (17.8) |  |  | (6.1) |  |  | (9.4) |
Total | $ | (24.9) |  |  | $ | 101.8 |  |  | $ | 27.7 |
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. These provisions are recorded or adjusted as information becomes available upon which more accurate costs can be reasonably estimated and as additional accounting guidelines are issued. See Note 11 for further details on the Company’s environmental-related activities. The gain on sale or disposition of assets represents the net realized gain 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 Expense (Income) - Net Included in Other expense (income) - net were the following:
| 2022 |  | 2021 |  | 2020
Investment losses (gains) | $ | 9.7 |  |  | $ | (30.4) |  |  | $ | (16.4) |
(Gain) loss on extinguishment of debt (see Note 8) | — |  |  | (1.4) |  |  | 21.3 |
Net expense from banking activities | 12.2 |  |  | 10.3 |  |  | 10.4 |
Foreign currency transaction related losses | 33.6 |  |  | 12.0 |  |  | 7.2 |
Miscellaneous pension expense | 4.0 |  |  | 4.4 |  |  | 4.9 |
Other income | (39.6) |  |  | (29.0) |  |  | (44.7) |
Other expense | 27.1 |  |  | 14.6 |  |  | 22.6 |
Total | $ | 47.0 |  |  | $ | (19.5) |  |  | $ | 5.3 |
Investment losses (gains) primarily relate to the change in market value of the investments held in the deferred compensation plan and qualified replacement plan. See Note 18 for additional information on the fair value of these investments. Foreign currency transaction related losses include the impact from foreign currency transactions and net realized (gains) losses from foreign currency option and forward contracts. There were no material foreign currency option and forward contracts outstanding at December 31, 2022, 2021 and 2020. Miscellaneous pension expense consists of the non-service components of Net periodic benefit cost. See Note 9. 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 items within Other income or Other expense that were individually significant at December 31, 2022, 2021 and 2020.

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- Definition The entire disclosure for other income or other expense items (both operating and nonoperating). Sources of nonoperating income or nonoperating expense that may be disclosed, include amounts earned from dividends, interest on securities, profits (losses) on securities, net and miscellaneous other income or income deductions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 720 -URI https://asc.fasb.org/topic&trid=2122503 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 610 -URI https://asc.fasb.org/topic&trid=49130413 + Details
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