Other Expense/(Income), net

12 Months Ended

Dec. 31, 2016

Other Income and Expenses [Abstract]

Other Expense/(Income), net

6. Other Expense/(Income), net

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

(in thousands)	2016		2015		2014
Currency transactions	($3,532	)	$1,496		($6,379	)
Bank fees and amortization of debt issuance costs	759		916		1,174
Loss due to theft of cash	2,506		-		-
Gain on sale of investment	-		(872	)	-
Gain on insurance recovery	-		-		(1,126	)
Other	313		893		(522	)
Total	$46		$2,433		($6,853	)

In 2016, the Company had a loss due to theft of cash in Japan, resulting in a loss of $2.5 million. While some of the loss occurred in prior periods, that portion was not material and, accordingly, we have not restated any previously-issued financial statements.

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.