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Interest and Other Income (Expense), Net (Tables) | 3 Months Ended
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Mar. 31, 2024
Other Income and Expenses [Abstract] |
Schedule of Components of interest and other income (expense), net | The components of interest and other income (expenses), net were as follows (in millions):
|  | Three Months Ended March 31, |  |
|  | 2024 |  |  | 2023 |  |
Interest income |  | $ | 2.6 |  |  | $ | 1.4 |  |
Interest expense |  |  | (5.0 | ) |  |  | (4.2 | ) |
Impairment of minority investments |  |  | — |  |  |  | (6.9 | ) |
Exchange gains (losses) on foreign currency transactions |  |  | 8.9 |  |  |  | (3.3 | ) |
Pension components |  |  | 0.3 |  |  |  | (0.1 | ) |
Other income (expense) |  |  | — |  |  |  | (3.0 | ) |
Interest and other income (expense), net |  | $ | 6.8 |  |  | $ | (16.1 | ) |
For the three months ended March 31, 2024, the Company had $8.9 million in exchange gain in foreign currency transactions. This foreign exchange gain includes an unrealized gain recognized on a forward contract taken to minimize risks from fluctuations in the Euro currency in anticipation of the closing of our acquisition of ELITechGroup in the quarter ending June 30, 2024, the purchase price of which is denominated in Euro.

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- Definition Tabular disclosure of the components of non-operating income or non-operating expense that may include amounts earned from dividends, interest on securities, gains (losses) on securities sold, equity earnings of unconsolidated affiliates, net gain (loss) on sales of business, interest expense and other miscellaneous income or expense items. + References No definition available. + Details
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