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OTHER (INCOME) EXPENSE | 3 Months Ended
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Mar. 31, 2025
Other Income and Expenses [Abstract] |
OTHER (INCOME) EXPENSE | OTHER (INCOME) EXPENSE Other general expense - net Included in Other general expense - net were the following:
| Three Months Ended March 31, |  |
| 2025 |  | 2024 |  |  |  |
Provisions for environmental matters - net | $ | 3.1 |  |  | $ | 3.6 |  |  |  |  |
Gain on sale or disposition of assets | (2.1) |  |  | (3.4) |  |  |  |  |
Other | 7.9 |  |  | 1.8 |  |  |  |  |
Other general expense - net | $ | 8.9 |  |  | $ | 2.0 |  |  |  |  |
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. See Note 8 for further details on the Company’s environmental-related activities. Gain on sale or disposition of assets represents the net gains 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. There were no items within the Other caption that were individually significant. Other expense (income) - net Included in Other expense (income) - net were the following:
| Three Months Ended March 31, |  |
| 2025 |  | 2024 |  |  |  |
Net investment gains | $ | (3.2) |  |  | $ | (5.1) |  |  |  |  |
Net expense from banking activities | 3.9 |  |  | 3.3 |  |  |  |  |
Foreign currency transaction related losses - net | 10.0 |  |  | 7.6 |  |  |  |  |
Miscellaneous pension and benefit income | (3.4) |  |  | (4.9) |  |  |  |  |
Other income | (10.4) |  |  | (9.0) |  |  |  |  |
Other expense | 6.0 |  |  | 0.4 |  |  |  |  |
Other expense (income) - net | $ | 2.9 |  |  | $ | (7.7) |  |  |  |  |
Net investment gains primarily relate to the change in market value of the investments held in the deferred compensation plan. The three months ended March 31, 2024 also included the change in market value related to bonds issued by a foreign government. See Note 13 for further details on the fair value of these investments. Foreign currency transaction related losses - net include the impact from foreign currency transactions, including from highly inflationary economies such as Argentina, and net realized (gains) losses from foreign currency option and forward contracts. See Note 12 for further details regarding these foreign currency contracts. Miscellaneous pension and benefit income consists of the non-service components of net periodic pension and benefit (credit) cost. See Note 7 for further details. Other income and other expense include items of revenue, gains, expenses and losses that were unrelated to the primary business purpose of the Company. There were no items within the other income or other expense caption that were individually significant.

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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://www.xbrl.org/2009/role/commonPracticeRef -Topic 720 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/720/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Topic 610 -Publisher FASB -URI https://asc.fasb.org/610/tableOfContent + Details
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