Other Income (Expense), Net

6 Months Ended

Jun. 30, 2025

Other Income and Expenses [Abstract]

9. Other Income (Expense), Net

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


	Quarter Ended June 30,						Six Months Ended June 30,
	2025			2024			2025			2024
Interest income	$	0.2		$	1.2		$	0.4		$	2.1
Net periodic postretirement and postemployment benefit cost		(1.4	)		(1.5	)		(2.6	)		(1.8	)
Unrealized gain on equity securities		0.2			0.1			0.1			0.3
Loss on disposition of property, plant and equipment		—			(0.3	)		—			(0.5	)
Gain on business interruption insurance recoveries1		5.0			—			5.0			10.5
All other, net		0.4			—			0.1			(0.2	)
Other income (expense), net	$	4.4		$	(0.5	)	$	3.0		$	10.4

Represents advances against business interruption insurance claims. We recognize such advances in the period in which the insurance proceeds are received or become realizable. During the six months ended June 30, 2025 and June 30, 2024, we received net cash proceeds of $5.0 million and $10.5 million, respectively.

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 six months ended June 30, 2025, we sold trade accounts receivable totaling $214.2 million and $484.2 million, respectively, related to these supply chain financing arrangements, of which our customers’ financial institutions applied discount fees totaling $5.4 million and $11.0 million, respectively. During the quarter and six months ended June 30, 2024, we sold trade accounts receivable totaling $265.3 million and $532.4 million, respectively, related to these supply chain financing arrangements, of which our customers’ financial institutions applied discount fees totaling $6.5 million and $12.8 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 income (expense), net. As of June 30, 2025, we had been and/or expected to be substantially reimbursed by our customers for these discount fees, in accordance with the underlying sales agreements.