Other (Income)/Expense, net

3 Months Ended

Mar. 31, 2021

Other Income and Expenses [Abstract]

Other (Income)/Expense, net

Other (Income)/Expense, net

The components of Other (Income)/Expense, net are:

	Three months ended March 31,
(in thousands)	2021		2020
Currency transaction (gains)/losses	$	166	$	14,834
Bank fees and amortization of debt issuance costs	107		75
Components of net periodic pension and postretirement cost other than service	(2)		385
Other	329		275
Total	$	600	$	15,569

Other (income)/expense, net includes losses related to the revaluation of nonfunctional-currency balances of $0.2 million for the first three months of 2021, compared to losses of $14.8 million for the first three months of 2020, which principally resulted from an intercompany demand loan payable by a Mexican subsidiary. As a result of changes in business conditions that occurred in the first quarter of 2020, loan repayments on that intercompany loan are not expected in the foreseeable future and, beginning April 1, 2020, revaluation effects are recorded in Other comprehensive income.