Other (Income) Expense, Net

6 Months Ended

Jul. 04, 2020

Other Income and Expenses [Abstract]

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, losses on the extinguishment of debt, gains and losses on the disposal of fixed assets, gains and losses on the consolidation and deconsolidation of affiliates, the non-service cost components of net periodic benefit cost 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 4, 2020			June 29, 2019			July 4, 2020			June 29, 2019
Other expense	$	4.4		$	16.7		$	43.6		$	27.3
Other income	(7.6		)	(2.9		)	(6.3		)	(9.1		)
Other (income) expense, net	$	(3.2	)	$	13.8		$	37.3		$	18.2

In the three months ended July 4, 2020, other income includes net foreign currency transaction gains of $1.0 million. In the six months ended July 4, 2020, other expense includes net foreign currency transaction losses of $16.7 million and a loss of $21.1 million on the extinguishment of debt (Note 8, "Debt").

In the three and six months ended June 29, 2019, other expense includes net foreign currency transaction losses of $1.4 million and $7.2 million, respectively, and a loss of $10.6 million on the extinguishment of debt.