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Other (Income) Expense, Net
 6 Months Ended
Jul. 02, 2016
Other Income and Expenses [Abstract]  
Other (Income) Expense, Net
Other (Income) Expense, Net
Other (income) expense, net includes non-income related taxes, foreign exchange gains and losses, gains and losses related to certain derivative instruments and hedging activities, gains and losses on the extinguishment of debt, gains and losses on the disposal of fixed assets and other miscellaneous income and expense.
A summary of other (income) expense, net is shown below (in millions):
 
Three Months Ended
 
Six Months Ended
 
July 2,
2016
 
June 27,
2015
 
July 2,
2016
 
June 27,
2015
Other expense
$
10.6

 
$
9.0

 
$
19.6

 
$
41.2

Other income
(34.1
)
 
(0.3
)
 
(34.6
)
 
(2.5
)
Other (income) expense, net
$
(23.5
)
 
$
8.7

 
$
(15.0
)
 
$
38.7


For the three and six months ended July 2, 2016, other income includes a gain of $30.3 million related to the consolidation of an affiliate (Note 5, "Long-Term Assets"). For the three and six months ended July 2, 2016, other expense includes net foreign currency transaction losses of $2.2 million and $1.8 million, respectively.
For the six months ended June 27, 2015, other expense includes a loss of $14.3 million related to the extinguishment of debt (Note 7, "Debt") and net foreign currency transaction losses of $14.3 million.