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Other (Income)/Expense, net | 9 Months Ended
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Sep. 30, 2020
Other Income and Expenses [Abstract] |
Other (Income)/Expense, net | Other (Income)/Expense, net The components of Other (Income)/Expense, net are:
| Three months ended September 30, | Nine months ended September 30,
(in thousands) | 2020 | 2019 | 2020 | 2019
Currency transaction (gains)/losses | $ | (148) |  | $ | (2,028) |  | $ | 14,702 |  | $ | (3,724) |
Bank fees and amortization of debt issuance costs | 96 |  | 81 |  | 264 |  | 262 |
Components of net periodic pension and postretirement cost other than service | 384 |  | 278 |  | 1,523 |  | 840 |
Other | (3,077) |  | 41 |  | (2,574) |  | 716 |
Total | $ | (2,745) |  | $ | (1,628) |  | $ | 13,915 |  | $ | (1,906) |
Other (Income)/Expense, net for the first three months of 2020 included losses related to the revaluation of nonfunctional-currency balances of $14.8 million, which principally resulted from intercompany demand loans payable by Mexican subsidiaries combined with the effects of a much weaker peso in 2020. As a result of changes in business conditions that occurred in the first quarter of 2020, certain loan repayments are no longer expected in the foreseeable future and, beginning April 1, 2020, the revaluation effects for those loans are being recorded in Other comprehensive income. This resulted in a gain of $0.6 million, and a loss of $0.6 million being recorded in Other comprehensive income in the second and third quarters of 2020, respectively. Other (income)/expense, net, for the first nine months of 2019 included gains related to the revaluation of nonfunctional-currency balances of $3.7 million. In the third quarter 2020 Other income/expense, net we recorded other income of $2.6 million related to a successful claim for a rebate of foreign sales tax paid in previous years.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 720 -URI http://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 http://asc.fasb.org/topic&trid=49130413 + Details
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