Other (Income) Expense, Net

3 Months Ended

Mar. 31, 2024

Other Income and Expenses [Abstract]

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	)