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Other (Income)/Expense, net
 9 Months Ended
Sep. 30, 2024
Other Income and Expenses [Abstract]  
Other (Income)/Expense, net Other (Income)/Expense, net
The components of Other (income)/expense, net are:
Three months ended September 30,Nine months ended September 30,
(in thousands)
2024202320242023
Currency transaction (gains)/losses$1,834 $511 $692 $(3,622)
Derivative instruments losses/(gains)(485)704 3,788 581 
Bank fees and amortization of debt issuance costs
48 49 169 140 
Components of net periodic pension and postretirement cost other than service cost663 (15)1,995 (260)
Other1,197 (1,193)(712)(1,749)
Total other (income)/expense, net$3,257 $56 $5,932 $(4,910)
Other (income)/expense, net, included foreign currency related transactions which resulted in losses of $1.8 million and $0.7 million in the three and nine months ended September 30, 2024, respectively, as compared to losses of $0.5 million and gains of $3.6 million in the same periods last year. In addition, changes in the fair value of derivative instruments included gains of $0.5 million and losses of $3.8 million in the three and nine months ended September 30, 2024, as compared to losses of $0.7 million and $0.6 million in the same period last year, driven by currency rate movements, most notably the Brazilian Real and Mexican Peso. Other (income)/expense, net, also included net losses of $0.7 million from the divestiture of assets related to Heimbach during the nine months ended September 30, 2024, as well as bank fees, amortization of debt issuance costs, and rental income.