Other expense, net

3 Months Ended

Mar. 31, 2018

Other Income and Expenses [Abstract]

Other Expense/(Income), net

6. Other expense, net

The components of Other expense, net are:

	Three months ended March 31,
(in thousands)	2018	2017
Currency transaction losses	$690	$101
Bank fees	108	149
Components of net periodic pension and postretirement cost other than service	263	622
Other	391	(46	)
Total	$1,452	$826

In 2018, the Company adopted the provisions of ASU 2017-07. This accounting update affected the classification of components of net periodic benefit cost, other than service cost, to be reported separately from the service cost component and outside of operating income. The Company elected to report other components of net periodic pension and post retirement cost in Other expense, net. The comparative consolidated statement of income was restated as required by this update. Further detail of this accounting update is disclosed in Note 4.