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Other Expense, net | 12 Months Ended
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Dec. 31, 2024
Other Income and Expenses [Abstract] |
Other Expense, net | Other Expense, net The following table provides details of other expense, net:
|  | Year Ended December 31,
(In millions) |  | 2024 |  | 2023 |  | 2022
Net foreign exchange transaction gain (loss) |  | $ | 1.4 |  |  | $ | (15.3) |  |  | $ | (7.2) |
Bank fee expense |  | (4.8) |  |  | (5.6) |  |  | (5.1) |
Pension (expense) income other than service costs |  | (6.1) |  |  | (8.7) |  |  | 4.8 |
Impairment loss on debt/equity investments, net(1) |  | (8.5) |  |  | — |  |  | (30.6) |
Foreign currency exchange loss due to high inflationary economies |  | (9.9) |  |  | (23.1) |  |  | (8.8) |
Loss on debt redemption and refinancing activities |  | (6.8) |  |  | (13.2) |  |  | (11.2) |
Other income |  | 14.5 |  |  | 10.4 |  |  | 11.7 |
Other (expense) |  | (9.7) |  |  | (6.4) |  |  | (6.8) |
Other expense, net |  | $ | (29.9) |  |  | $ | (61.9) |  |  | $ | (53.2) |
(1)During the year ended December 31, 2022, Sealed Air made an investment of $8.0 million in another company's convertible debt. In 2023, we made an additional investment in the same company of $0.5 million. Based on information available to Sealed Air specific to the investee and our current expectations of recoverability, we recorded a credit loss resulting in an $8.5 million impairment (establishment of allowance) of the convertible debt investment during the fourth quarter of 2024. Sealed Air maintains no other available-for-sale debt securities as of December 31, 2024. The total allowance for credit losses related to available-for-sale debt securities as of December 31, 2024 was $8.5 million.

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- 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://www.xbrl.org/2009/role/commonPracticeRef -Topic 720 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/720/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Topic 610 -Publisher FASB -URI https://asc.fasb.org/610/tableOfContent + Details
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