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Other Income (Expense), Net and Loss on Sale of Argentina Subsidiary
 9 Months Ended
Sep. 30, 2022
Other Income and Expenses [Abstract]  
Other Income (Expense), Net and Loss on Sale of Argentina Subsidiary Other Income (Expense), Net and Loss on Sale of Argentina Subsidiary
Other income (expense), net consisted of the following: 
Three Months Ended September 30,Nine Months Ended September 30,
(In thousands)2022202120222021
Net gain (loss) on foreign currency exchange contracts (1)
$(550)$689 $518 $2,177 
Net gain (loss) on foreign currency exchange transactions476 (855)(534)(2,932)
Other income (expense)20 9 (372)604 
Other income (expense), net$(54)$(157)$(388)$(151)

(1)This represents the gains (losses) incurred on foreign currency hedging derivatives (see Note 18 for further details).

On September 7, 2021, we completed the sale of our subsidiary, One For All Argentina S.R.L, to an unrelated party, recording a loss on sale of $6.1 million. Upon divestiture, the successor entity, OFA Express S.R.L., will serve as an authorized distributor of certain of our products in Argentina. OFA Express, S.R.L. is not a related party of the Company.