Other Expenses/(Income), net

9 Months Ended

Sep. 30, 2015

Other Expenses/ (Income), net [Abstract]

Other Expenses/ (Income), net

6. Other Expenses/ (Income), net

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

	Three months ended September 30,					Nine months ended September 30,
(in thousands)	2015		2014			2015			2014
Currency transaction losses/(gains)	$	953	$	(1,916	)	$	404		$	(3,819	)
Bank fees and amortization of debt issuance costs		219		271			764			868
Gain on sale of investment		-		-			(872	)		-
Gain on insurance recovery		-		(165	)		-			(1,126	)
Other		77		(54	)		488			(387	)
Total	$	1,249	$	(1,864	)	$	784		$	(4,464	)

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. The insurance recovery gain recorded in 2014 represents the finalization of the insurance claim.