Other Expense, Net

9 Months Ended

Sep. 28, 2024

Other Income and Expenses [Abstract]

Other 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 disposal of fixed assets, the non-service cost components of net periodic benefit cost and other miscellaneous income and expense.

A summary of other expense, net is shown below (in millions):


	Three Months Ended				Nine Months Ended
	September 28, 2024		September 30, 2023		September 28, 2024		September 30, 2023
Other expense	$	10.9	$	9.1	$	42.2	$	43.2
Other income	(7.5)		(3.3)		(17.9)		(4.2)
Other expense, net	$	3.4	$	5.8	$	24.3	$	39.0

In the three and nine months ended September 28, 2024, other expense includes net foreign currency transaction losses of $5.7 million and $24.0 million, respectively, including losses of $4.1 million and $13.9 million, respectively, related to the hyper-inflationary environment in Argentina.

In the three months ended September 30, 2023, other income includes net foreign currency transaction gains of $0.2 million, including losses of $6.9 million related to the hyper-inflationary environment in Argentina. In the nine months ended September 30, 2023, other expense includes net foreign currency transaction losses of $20.8 million, including $14.4 million related to the hyper-inflationary environment in Argentina, and a loss of $5.0 million related to the impairment of an affiliate.