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Other Expense, net
 12 Months Ended
Dec. 31, 2024
Other Income and Expenses [Abstract]  
Other Expense, net Other Expense, net
The following table provides details of other expense, net:
 Year Ended December 31,
(In millions)202420232022
Net foreign exchange transaction gain (loss)$1.4 $(15.3)$(7.2)
Bank fee expense(4.8)(5.6)(5.1)
Pension (expense) income other than service costs(6.1)(8.7)4.8 
Impairment loss on debt/equity investments, net(1)
(8.5)— (30.6)
Foreign currency exchange loss due to high inflationary economies(9.9)(23.1)(8.8)
Loss on debt redemption and refinancing activities(6.8)(13.2)(11.2)
Other income14.5 10.4 11.7 
Other (expense)(9.7)(6.4)(6.8)
Other expense, net$(29.9)$(61.9)$(53.2)

(1)During the year ended December 31, 2022, Sealed Air made an investment of $8.0 million in another company's convertible debt. In 2023, we made an additional investment in the same company of $0.5 million. Based on information available to Sealed Air specific to the investee and our current expectations of recoverability, we recorded a credit loss resulting in an $8.5 million impairment (establishment of allowance) of the convertible debt investment during the fourth quarter of 2024. Sealed Air maintains no other available-for-sale debt securities as of December 31, 2024. The total allowance for credit losses related to available-for-sale debt securities as of December 31, 2024 was $8.5 million.