Other Expense, Net

3 Months Ended

Mar. 31, 2016

Other Income and Expenses [Abstract]

Other Expense, Net

OTHER EXPENSE, NET

	Three Months Ended March 31,
	2016		2015
Exchange losses, net	$	7.5	$	8.7
Other miscellaneous expense (income), net	0.5		(4.8		)
Total	$	8.0	$	3.9

Our net exchange losses for the three months ended March 31, 2016 and 2015 consisted of remeasurement losses on our Euro borrowings, partially offset by gains related to the remeasurement of intercompany transactions denominated in currencies different from the functional currency of the relevant subsidiary. Net exchange losses for the period also include the impacts of remeasurement losses related to the remeasurement of the net monetary assets of our Venezuelan subsidiary as discussed further in Note 20.

Other miscellaneous income, net included a gain for the three months ended March 31, 2015, resulting from the acquisition of an additional 25% interest in an equity method investee for a purchase price of $4.3 million. As a result of the acquisition, we obtained a controlling interest and recognized a gain of $5.4 million on the remeasurement of our previously held equity interest as of the acquisition date.