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Interest and Other Income (Expense), Net | 6 Months Ended
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Jun. 30, 2024
Other Income and Expenses [Abstract] |
Interest and Other Income (Expense), Net | 15. Interest and Other Income (Expense), Net The components of interest and other income (expenses), net were as follows (in millions):
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Interest income |  | $ | 2.4 |  |  | $ | 1.9 |  |  | $ | 5.0 |  |  | $ | 3.3 |
Interest expense |  |  | (15.7 | ) |  |  | (3.9 | ) |  |  | (20.7 | ) |  |  | (8.1 | )
Impairment of minority investments |  |  | (20.2 | ) |  |  | (11.4 | ) |  |  | (20.2 | ) |  |  | (18.3 | )
Exchange gains (losses) on foreign currency transactions |  |  | 9.0 |  |  |  | (2.2 | ) |  |  | 17.9 |  |  |  | (5.5 | )
Pension components |  |  | 0.3 |  |  |  | — |  |  |  | 0.6 |  |  |  | (0.1 | )
Other income (expense) |  |  | — |  |  |  | 6.9 |  |  |  | — |  |  |  | 3.9 |
Interest and other income (expense), net |  | $ | (24.2 | ) |  | $ | (8.7 | ) |  | $ | (17.4 | ) |  | $ | (24.8 | )
For the six months ended June 30, 2024, the Company recognized $17.9 million in exchange gains on foreign currency transactions. This foreign exchange gain includes a realized gain recognized on a forward contract taken to minimize risks from fluctuations in the Euro currency related to the closing of our acquisition of ELITechGroup in the quarter ended June 30, 2024, the purchase price of which was denominated in Euro. In the three and six months ended June 30, 2024, the Company recorded a realized foreign exchange gain of $10.4 million in interest and other income (expense), net, related to this forward contract.

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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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