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Other Income/(Deductions) - Net
 6 Months Ended
Jun. 28, 2020
Other Income, Nonoperating [Abstract]  
Other Income/(Deductions)—Net
Note 3. Other (Income)/Deductions—Net
The following table provides the components of
Other (income)/deductions––net
:
 
 
  
(millions of dollars)
   Three Months 
Ended 
June 28, 2020 		     Three Months 
Ended 
June 30, 2019 		     Six Months 
Ended 
June 28, 2020 		     Period From 
February 14, 2019 
(Date 
of Incorporation)
to 
June 30, 2019 		  
Interest income
(a)
    $                     (0.2)      $                     —       $ (0.2)      $                     —   
Interest expense
(b)
     5.3        —        5.3        —   
 
 
 
    
 
 
    
 
 
    
 
 
  
Net interest expense
     5.1        —        5.1        —   
Foreign exchange (gain)/loss, net
(c)
     (3.9)       —        (3.9)       —   
 
 
 
    
 
 
    
 
 
    
 
 
  
Other (income)/deductions––net
    $ 1.2       $ —       $ 1.2       $ —   
 
  
 
  
(a)
Represents interest income earned on $11.4 billion of proceeds from the debt issuances completed in June 2020 (see
Note 5B
) that are invested in money market funds and included in
Restricted short-term investments
(see
Note 5A
)
in the condensed consolidated balance sheet as of June 28, 2020.
(b)
Represents interest expense associated with the $11.4 billion of senior unsecured notes issued in June 2020, which includes the stated interest expense on the notes and amortization of bond discount and issuance costs (see
Note 5B
).
(c)
Represents
net currency exchange gains related to the Euro denominated senior unsecured notes issued in June 2020 (see
Note 5B)
.