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OTHER INCOME
 9 Months Ended
Sep. 30, 2025
Other Income and Expenses [Abstract]  
OTHER INCOME OTHER (LOSS) INCOME
Other (loss) income consisted of the following (amounts in thousands):
Three months endedNine months ended
September 30,September 30,
 2025202420252024
Gain on property insurance settlement (1)
$— $520 $— $2,433 
Loss on sale of investment (2)
— (1,032)— (1,032)
Loss for life insurance policy termination (3)
(2,852)— (2,852)— 
Equity investment income241 165 645 733 
Gain (loss) on sale of assets19 19 (19)407 
Pension plan income527 404 1,580 1,214 
Other (loss) income(368)299 487 302 
 $(2,433)$375 $(159)$4,057 
(1) The gain on property insurance settlement relates to the receipt of insurance proceeds of $3.5 million offset by costs to repair one of the Company's operating facilities in Italy related to a 2023 hail storm weather event. During the three months ended September 30, 2024, the Company also received insurance proceeds of $0.5 million associated with certain equipment at our North American wheel facility.
(2) In September 2024, the Company sold its remaining ownership interest in an Indian undercarriage business and incurred a loss of $1.0 million as a result of the sale. The sale agreement includes a commitment to purchase approximately $1.7 million of products from the purchaser of the Company's interest in the Indian undercarriage business over a two year period.
(3) In September 2025, the Company recorded a write-off of asset balances that were associated with the reimbursement of premiums paid under certain life insurance policies held for certain owners of a previously acquired business. The write-off was based on the company’s re-assessment that it will likely not be able to recover the net book value of the assets.