Other (Expense) Income, Net

6 Months Ended

Jun. 30, 2023

Other Income and Expenses [Abstract]

Other (Expense) Income, Net

9. Other (Expense) Income, Net

The following table presents the components of Other (expense) income, net (in millions of dollars):

	Quarter Ended June 30,						Six Months Ended June 30,
	2023			2022			2023			2022
Interest income	$	0.2		$	0.2		$	0.6		$	0.2
Net periodic postretirement benefit cost		(1.9	)		(1.5	)		(3.9	)		(2.9	)
Unrealized gain (loss) on equity securities		0.2			(0.7	)		0.3			(1.1	)
(Loss) gain on disposition of property, plant and equipment		(0.8	)		—			14.2			—
All other, net		(0.2	)		(1.7	)		(0.1	)		(1.5	)
Other (expense) income, net	$	(2.5	)	$	(3.7	)	$	11.1		$	(5.3	)

Supply Chain Financing. We are party to several supply chain financing arrangements, in which we may sell certain of our customers’ trade accounts receivable to such customers’ financial institutions without recourse. During the quarter and six months ended June 30, 2023, we sold trade accounts receivable totaling $323.4 million and $626.6 million, respectively, related to these supply chain financing arrangements, of which our customers’ financial institutions applied discount fees totaling $8.0 million and $15.2 million, respectively. During the quarter and six months ended June 30, 2022, we sold trade accounts receivable totaling $482.0 million and $889.4 million, respectively, related to these supply chain financing arrangements, of which our customers’ financial institutions applied discount fees totaling $6.3 million and $9.2 million, respectively. To the extent discount fees related to the sale of trade accounts receivable under supply chain financing arrangements are not reimbursed by our customers, they are included in Other (expense) income, net. As of June 30, 2023, we had been and/or expected to be fully reimbursed by our customers for the majority of these discount fees.