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Other (Expense) Income, Net
 9 Months Ended
Sep. 30, 2023
Other Income and Expenses [Abstract]  
Other (Expense) Income, Net

9. Other (Expense) Income, Net

The following table presents the components of Other (expense) income, net (in millions of dollars):

 

 

 

Quarter Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Interest income

 

$

0.6

 

 

$

0.4

 

 

$

1.2

 

 

$

0.6

 

Net periodic postretirement benefit cost

 

 

(2.2

)

 

 

(1.4

)

 

 

(6.1

)

 

 

(4.3

)

Unrealized (loss) gain on equity securities

 

 

(0.1

)

 

 

(0.3

)

 

 

0.2

 

 

 

(1.4

)

(Loss) gain on disposition of property, plant and equipment

 

 

(0.2

)

 

 

8.4

 

 

 

14.0

 

 

 

6.3

 

Post-acquisition funding received from Alcoa Corporation1

 

 

—

 

 

 

6.0

 

 

 

—

 

 

 

6.0

 

All other, net

 

 

(0.3

)

 

 

(0.4

)

 

 

(0.4

)

 

 

0.2

 

Other (expense) income, net

 

$

(2.2

)

 

$

12.7

 

 

$

8.9

 

 

$

7.4

 

\

1.
Reimbursement received for repairs and maintenance expenditures on certain machinery and equipment that we had purchased from Alcoa Corporation in connection with our March 31, 2021 acquisition of the Warrick rolling mill.

Supply Chain Financing. We are party to several supply chain financing arrangements, in which we may sell certain of our customers’ trade accounts receivable to such customers’ financial institutions without recourse. During the quarter and nine months ended September 30, 2023, we sold trade accounts receivable totaling $315.9 million and $942.5 million, respectively, related to these supply chain financing arrangements, of which our customers’ financial institutions applied discount fees totaling $7.6 million and $22.8 million, respectively. During the quarter and nine months ended September 30, 2022, we sold trade accounts receivable totaling $359.2 million and $1,248.6 million, respectively, related to these supply chain financing arrangements, of which our customers’ financial institutions applied discount fees totaling $6.2 million and $15.4 million, respectively. To the extent discount fees related to the sale of trade accounts receivable under supply chain financing arrangements are not reimbursed by our customers, they are included in Other (expense) income, net. As of September 30, 2023, we had been and/or expected to be fully reimbursed by our customers for the majority of these discount fees.