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Other (Income) Expense, Net | 3 Months Ended
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Mar. 31, 2024
Other Income and Expenses [Abstract] |
Other (Income) Expense, Net | 13. OTHER (INCOME) EXPENSE, NET The components of other (income) expense, net, are as follows (in thousands):
|  | Three Months Ended |
|  | March 31, |
|  | 2024 |  |  | 2023 |
(Gain) loss on sale of assets |  | $ | (537 | ) |  | $ | 96 |
Results of non-consolidated subsidiaries |  |  | (31 | ) |  |  | (137 | )
Foreign exchange (gain) loss, net |  |  | 285 |  |  |  | (144 | )
Rents and royalties |  |  | (6 | ) |  |  | (145 | )
Return on pension assets and other pension costs |  |  | (290 | ) |  |  | (326 | )
Loss on lease abandonment and other exit costs |  |  | 699 |  |  |  | 641 |
Assets write-down |  |  | 1,110 |  |  |  | 1,015 |
Insurance and other settlements |  |  | (1,011 | ) |  |  | (604 | )
Severance and other charges |  |  | 824 |  |  |  | — |
Other, net |  |  | (197 | ) |  |  | (424 | )
Total other (income) expense, net |  | $ | 846 |  |  | $ | (28 | )
During the three months ended March 31, 2024 and 2023, we abandoned certain leases in the U.S. and Canada, respectively, and incurred lease abandonment and other exit costs of $0.7 million and $0.6 million, respectively. As a result of consolidating and exiting these facilities, the associated leasehold improvements, right of use assets and other assets of $1.1 million and $1.0 million were abandoned and expensed, respectively. During the three months ended March 31, 2024, we had a fire incident at one of our U.K. facilities and have recorded partial insurance settlements of $1.0 million associated with costs incurred and loss of income from business interruption. During the three months ended March 31, 2023, the State of Louisiana expropriated the access road to one of our facilities and paid us a settlement of $0.6 million. Foreign exchange (gain) loss, net by currency is summarized in the following table (in thousands):
|  | Three Months Ended |
|  | March 31, |
|  | 2024 |  |  | 2023 |
British Pound |  | $ | 31 |  |  | $ | (251 | )
Canadian Dollar |  |  | 39 |  |  |  | 58 |
Colombian Peso |  |  | (7 | ) |  |  | 53 |
Euro |  |  | 18 |  |  |  | 84 |
Indonesian Rupiah |  |  | 80 |  |  |  | (71 | )
Russian Ruble |  |  | (3 | ) |  |  | (251 | )
Turkish Lira |  |  | 21 |  |  |  | (5 | )
Other currencies, net |  |  | 106 |  |  |  | 239 |
Foreign exchange (gain) loss, net |  | $ | 285 |  |  | $ | (144 | )

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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 -Topic 610 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//610/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 720 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//720/tableOfContent + Details
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