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Other Expense/(Income), net
 12 Months Ended
Dec. 31, 2015
Other Expense/(Income), net [Abstract]  
Other Expense/(Income), net

6.  Other Expense/(Income), net

 

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

 (in thousands)     2015   2014   2013
 Currency transactions  
  $1,496
 
  ($6,379 )  
  $5,227
 Bank fees and amortization of debt issuance costs       916         1,174
      1,542
 Gain on sale of investment         (872 )        -      -
 Gain on insurance recovery   -
  (1,126 )   -
 Other         893
      (522 )        487
 Total    
  $2,433
 
  ($6,853 )   

$7,256

 

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

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 the value was minimal. The gain recorded in 2014 represents the finalization of the insurance claim.