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Other (Income) Expense, net | 12 Months Ended
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Dec. 31, 2023
Other Income and Expenses [Abstract] |
Other (Income) Expense, net | Other Expense (Income), net The following table presents the details of other expense (income), net:
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
| (Dollars in thousands)
Brazil value-added tax credit | $ | — |  |  | $ | — |  |  | $ | (11,511) |
Non-service pension and other post-employment expense (income) | 3,771 |  |  | (9,950) |  |  | (5,298) |
Bank charges | 757 |  |  | 938 |  |  | 1,098 |
Other | 151 |  |  | (1,135) |  |  | (509) |
Total other expense (income), net | $ | 4,679 |  |  | $ | (10,147) |  |  | $ | (16,220) |
In May 2021, the Brazilian Supreme Court ruled definitely to exclude the ICMS (state value-added tax) from the basis of calculation of certain federal value-added taxes, specifically the tax relative to the program of social integration ("PIS") and to the contribution for the financing of social security ("COFINS"), and confirmed the methodology for calculating the PIS-COFINS tax credit to which taxpayers are entitled. The Company's Brazilian subsidiary had previously filed a legal claim on this matter and is entitled to receive tax credits and interest dating back to five years preceding the date of the claim. The overpayments, plus interest, of PIS-COFINS related to the period from June 2005 to August 2021 represented $11.5 million, net of legal fees. In the fourth quarter of 2021, the Company's subsidiary obtained approval by the Brazilian Tax Authorities to start offsetting the PIS-COFINS credit against the current federal value-added tax payable and recorded the one-time credit as a realizable gain. As of December 31, 2023, the Company has offset the entire amount of this credit. Non-service pension and other post-employment expense (income) includes the components of pension and post-employment costs other than service cost. Non-service pension and other post-employment expense (income) included mark-to-market losses of $3.0 million in 2023, compared to mark-to-market gains of $9.6 million and $3.8 million, respectively, in 2022 and 2021. See Note 11, "Retirement Plans and Post-Employment Benefits" for further discussion.

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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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