XML 46 R32.htm IDEA: XBRL DOCUMENT
v3.22.4

Other (Expense) Income, net | 12 Months Ended
--- | ---
Dec. 31, 2022
Other Income and Expenses [Abstract] |
Other (Expense) Income, net | Other (Expense) Income, net The following table provides details of other (expense) income, net:
|  | Year Ended December 31,
(In millions) |  | 2022 |  | 2021 |  | 2020
Net foreign exchange transaction (loss) gain |  | $ | (7.2) |  |  | $ | (0.7) |  |  | $ | 1.7 |
Bank fee expense |  | (5.1) |  |  | (5.0) |  |  | (6.3) |
Pension income other than service costs |  | 4.8 |  |  | 4.4 |  |  | 0.9 |
Impairment (loss)/fair value gain on equity investments, net |  | (30.6) |  |  | 6.6 |  |  | 15.1 |
Impairment of debt investment(1) |  | — |  |  | (8.0) |  |  | — |
Foreign currency exchange loss due to high inflationary economies |  | (8.8) |  |  | (3.6) |  |  | (4.7) |
Loss on debt redemption and refinancing activities |  | (11.2) |  |  | (18.6) |  |  | — |
Other income(2) |  | 11.7 |  |  | 13.2 |  |  | 11.3 |
Other (expense) |  | (6.8) |  |  | (5.2) |  |  | (5.5) |
Other (expense) income, net |  | $ | (53.2) |  |  | $ | (16.9) |  |  | $ | 12.5 |
(1)During the year ended December 31, 2021, SEE made investments totaling $8.0 million, in another company's convertible debt. Based on information available to SEE specific to the investee and our expectations of recoverability at that time, we recorded a credit loss resulting in an $8.0 million impairment (establishment of allowance) of the convertible debt investment during the fourth quarter of 2021. The total allowance for credit losses related to the remaining available-for-sale debt securities as of December 31, 2022 was zero. (2)During the year ended December 31, 2021, the Supreme Court of Brazil issued a final decision that clarified the methodology companies should use related to a claim for the overpayment of certain indirect taxes paid by Sealed Air subsidiaries in Brazil, resulting from a double taxation calculation. Based on the updated methodology approved by the Brazilian Supreme Court, we recorded $5.0 million to other income during the year ended December 31, 2021.

X
- References No definition available. + Details
Name: | us-gaap_OtherIncomeAndExpensesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 720 -URI https://asc.fasb.org/topic&trid=2122503 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 610 -URI https://asc.fasb.org/topic&trid=49130413 + Details
Name: | us-gaap_OtherIncomeAndOtherExpenseDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration