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Other (Income)/Expense, net
 12 Months Ended
Dec. 31, 2024
Other Income and Expenses [Abstract]  
Other (Income)/Expense, net Other (Income)/Expense, net
The components of Other expense/(income), net, are:
Years ended December 31,
(in thousands)
202420232022
Currency transactions$(3,900)$(2,916)$(9,996)
Sale of IP addresses— — (3,420)
Derivative instruments losses/(gains)3,459 (351)(509)
Bank fees and amortization of debt issuance costs232 180 313 
Components of net periodic pension and postretirement cost other than service2,493 (61)(1,077)
Other(563)(3,015)603 
Total other (income)/expense, net
$1,721 $(6,163)$(14,086)
Other (income)/expense, net included foreign currency related transactions that resulted in gains of $3.9 million during 2024 and gains of $2.9 million during 2023. In addition, changes in the fair value of derivative instruments included losses of $3.5 million during 2024 and gains of $0.4 million in 2023, driven by currency rate movements, most notably the Brazilian Real and Mexican Peso. Net periodic pension and postretirement costs, other than service costs, was $2.5 million during 2024 and was a benefit of $0.1 million during 2023. Other (income)/expense, net, also included 2024 bank fees, amortization of debt issuance costs, and rental income. During 2022, the Company recorded a gain of $3.4 million on the sale of IP addresses that the Company had no future critical need to retain. There were no similar gains of this nature during 2023 or 2024.