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Other (Income) Expenses, Net

9 Months Ended

Sep. 30, 2023

Other (Income) Expenses, Net [Abstract]

OTHER (INCOME) EXPENSES, NET

15. OTHER (INCOME) EXPENSES, NET

Other (income) expenses net, consisted of the following:

		During the Three-Month Periods Ended September 30,								During the Nine-Month Periods Ended September 30,
		2023				2022				2023				2022
Interest expense(1)		$	144,616			$	89,430			$	323,177			$	254,884
(Gain) loss on disposal of property, plant and equipment			(68	)			—				8,099				(11,000	)
Interest income			(23,696	)			(55,009	)			(79,134	)			(88,384	)
Insurance recovery(2)			(365,127	)			—				(365,127	)			—
Income-other			—				—				(107	)			(912	)
Other (income) expenses, net		$	(244,275	)		$	34,421			$	(113,092	)		$	154,588

⁽¹⁾ Interest expense includes amortization of debt issuance and debt discount costs of $8,687 and $1,919 during the three-month periods ended September 30, 2023 and 2022, respectively, and $12,525 and $5,739 during the nine-month periods ended September 30, 2023 and 2022, respectively.

⁽²⁾ The insurance recovery income resulted from insurance benefit proceeds paid to us under our business interruption policy related to the product contamination losses and a recovery from a vendor’s policy related to an equipment malfunction.

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- References

No definition available.

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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

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