Other (Income)/Expenses, net

6 Months Ended

Jun. 30, 2015

Other (Income)/Expenses, net [Abstract]

Other (Income)/Expenses, net

6. Other (Income)/Expenses, net

The components of Other (income)/expenses, net, are:

	Three months ended June 30,					Six months ended June 30,
(in thousands)	2015		2014			2015			2014
Currency transaction losses/(gains)	$	1,878	$	(1,397	)	$	(549	)	$	(1,903	)
Bank fees and amortization of debt issuance costs		234		285			545			597
Gain on sale of investment		-		-			(872	)		-
Gain on insurance recovery		-		(961	)		-			(961	)
Other		708		(60	)		411			(333	)
Total	$	2,820	$	(2,133	)	$	(465	)	$	(2,600	)

In March 2015, the Company sold its total equity investment in an unaffiliated company. The value of the investment was written off in 2004, resulting in a gain of $0.9 million in the first quarter of 2015.

In July 2013, the Company's manufacturing facility in Germany was damaged by severe weather. At that time, the Company expensed the remaining book value of the damaged property, but that value was minimal. In the second quarter of 2014, we recorded a gain equal to insurance proceeds received of $1.0 million.