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Interest and Other Income (Expense), Net
 9 Months Ended
Sep. 30, 2024
Other Income and Expenses [Abstract]  
Interest and Other Income (Expense), Net
16.
Interest and Other Income (Expense), Net

The components of interest and other income (expenses), net were as follows (in millions):

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Interest income

 

$

1.9

 

 

$

2.0

 

 

$

6.9

 

 

$

5.3

 

Interest expense

 

 

(11.6

)

 

 

(3.9

)

 

 

(32.3

)

 

 

(12.0

)

Impairment of minority investments

 

 

(4.4

)

 

 

—

 

 

 

(24.6

)

 

 

(18.3

)

Exchange gains (losses) on foreign currency transactions

 

 

0.5

 

 

 

(3.3

)

 

 

18.4

 

 

 

(8.8

)

Pension components

 

 

0.4

 

 

 

—

 

 

 

1.0

 

 

 

(0.1

)

Other income (expense)

 

 

0.4

 

 

 

(0.1

)

 

 

0.4

 

 

 

3.8

 

Interest and other income (expense), net

 

$

(12.8

)

 

$

(5.3

)

 

$

(30.2

)

 

$

(30.1

)

 

For the nine months ended September 30, 2024, the Company recognized $18.4 million in exchange gains on foreign currency transactions. This foreign exchange gain is related primarily to a realized gain recognized on a forward contract taken to minimize risks from fluctuations in the Euro currency related to the closing of our acquisition of ELITechGroup, the purchase price of which was denominated in Euro.