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Other expense/(income), net | 12 Months Ended
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Dec. 31, 2022
Other Income and Expenses [Abstract] |
Other expense/(income), net | Other expense/(income), net The components of Other expense/(income), net, are:
(in thousands) |  | 2022 |  | 2021 |  | 2020
Currency transactions |  | $ | (9,996) |  |  | $ | (1,179) |  |  | $ | 13,569 |
Sale of IP addresses |  | (3,420) |  |  | — |  |  | — |
Bank fees and amortization of debt issuance costs |  | 313 |  |  | 373 |  |  | 367 |
Components of net periodic pension and postretirement cost other than service |  | (1,077) |  |  | 156 |  |  | 1,561 |
Other |  | 94 |  |  | 3,671 |  |  | (2,075) |
Total |  | $ | (14,086) |  |  | $ | 3,021 |  |  | $ | 13,422 |
In 2022, Other (income)/expense, net included gains related to the revaluation of nonfunctional-currency balances of $10.0 million, as compared to a gain of $1.2 million during 2021, principally resulting from a weaker Euro throughout the course of 2022. As a result of changes in business conditions that occurred in the first quarter of 2020, certain loan repayments were no longer expected in the foreseeable future and, beginning April 1, 2020, the revaluation effects for those loans were recorded in Other comprehensive income, which resulted in a pre-tax gain of $5.0 million being recorded in Other comprehensive income in 2020. The same loans had an insignificant effect on Other comprehensive income in 2021 and 2022. In 2022, the Company recorded a gain of $3.4 million on the sale of IP addresses that the Company had no future critical need to retain. There were no similar gains of this nature in the previous two 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 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
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