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Other Income (Expense), Net | 9 Months Ended
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Sep. 29, 2024
Other Income and Expenses [Abstract] |
Other Income (Expense), Net | 13. Other Income (Expense), Net Included in other income (expense), net for the third quarter and September year-to-date 2024 and 2023 are the following:
| Third Quarter |  | September Year to Date
| 2024 |  | 2023 |  | 2024 |  | 2023
| (In millions of dollars)
Interest income | $ | 1.3 |  |  | $ | 2.1 |  |  | $ | 6.4 |  |  | $ | 4.8 |
Interest expense | (4.5) |  |  | (1.0) |  |  | (7.1) |  |  | (2.4) |
Foreign exchange gains (losses) | (0.9) |  |  | 0.5 |  |  | (0.2) |  |  | (1.5) |
Other | (0.3) |  |  | — |  |  | (8.2) |  |  | 2.1 |
Other income (expense), net | $ | (4.4) |  |  | $ | 1.6 |  |  | $ | (9.1) |  |  | $ | 3.0 |
The increase in Interest expense for the third quarter of 2024 reflects the increase in the Company's long-term debt (see Debt footnote). Included in Other for September year-to-date 2024 is $7.8 million of transaction costs related to the acquisition of MRP (see Acquisition and Disposition footnote). Included in Other for September year-to-date 2023 is a gain of $2.0 million for the receipt of earnout proceeds in connection with an investment that was sold in 2021.

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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://www.xbrl.org/2009/role/commonPracticeRef -Topic 720 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/720/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Topic 610 -Publisher FASB -URI https://asc.fasb.org/610/tableOfContent + Details
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