Miscellaneous Expense (Income), Net

12 Months Ended

Dec. 31, 2019

Miscellaneous Expense (Income), Net [Abstract]

Miscellaneous Expense (Income), Net

17. Miscellaneous Expense (Income), Net

Components of Miscellaneous expense (income), net follow:

	2019		2018		2017
	(Dollars in thousands)
Pension expense (income)	$	14,845	$	14,142	$	(7,474)
Argentina export tax matter		217		507		(3,549)
Gain on change of control		—		(2,586)		(127)
Modification of debt		—		1,046		—
Dividends/royalty from affiliates, net		(529)		(720)		(993)
Loss (gain) on sale of assets		(1,412)		(514)		747
Contingent consideration payment (adjustment)		(2,723)		(1,637)		1,721
Bank fees		1,798		1,656		1,646
Other, net		(474)		180		596
Total Miscellaneous expense (income), net	$	11,722	$	12,074	$	(7,433)

In 2018, we adopted ASU 2017-07, which requires all other components of net benefit costs (credit) besides service cost to be presented outside a subtotal of income from operations. As such, we recorded pension expense of $14.8 million in 2019 and $14.1 million in 2018 and income of $7.5 million in 2017 related to these costs.

In 2018, the Company acquired 66% of the equity interests of FMU (Note 5), bringing our total ownership to 100%. Due to the change of control that occurred, the Company recorded a gain on purchase of $2.6 million, related to the difference between the Company’s carrying value and fair value of the previously held equity method investment.

In 2017, the Company acquired a majority equity interest in Gardenia (Note 5), and due to the change of control that occurred, the Company recorded a gain on purchase of $2.6 million related to the difference between the Company’s carrying value and fair value of the previously held equity method investment. Substantially all of the operating results, net of income tax, of Gardenia were classified as discontinued operations in the accompanying consolidated statements of operations in conjunction with the sale of the Tile Coatings business discussed in Note 4.

In 2013, the Supreme Court in Argentina ruled unfavorably related to certain export taxes associated with a divested operation. In 2017, the Company participated in a newly available tax regime, resulting in the reduction of these outstanding tax labilities, and as a result recorded a gain of $4.5 million for the year ended December 31, 2017. We recorded a $0.2 million charge in 2019, $0.5 million charge in 2018 and $0.9 million charge in 2017 related to interest on the liabilities.