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Other Income (Expense), Net and Loss on Sale of Argentina Subsidiary
 12 Months Ended
Dec. 31, 2023
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: 
Year Ended December 31,
(In thousands)202320222021
Net gain (loss) on foreign currency exchange contracts (1)
$(3,238)$(1,309)$2,903 
Net gain (loss) on foreign currency exchange transactions(262)218 (4,237)
Other income (expense)879 136 777 
Other income (expense), net$(2,621)$(955)$(557)
(1)This represents the gains (losses) incurred on foreign currency hedging derivatives. See Note 19 for further information concerning our foreign currency exchange contracts.

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., serves as an authorized distributor of certain of our products in Argentina. OFA Express, S.R.L. is not a related party of the Company.