Other expense, net

6 Months Ended

Jun. 30, 2018

Other Income and Expenses [Abstract]

Other expense, net

6. Other expense, net

The components of Other expense, net are:

	Three months ended June 30,		Six months ended June 30,
(in thousands)	2018	2017	2018	2017
Currency transaction (gains)/losses	($9)	$1,948	$681	$2,049
Bank fees	96	111	204	259
Components of net periodic pension and postretirement cost other than service	259	627	525	1,249
Other	380	(128)	768	(173)
Total	$726	$2,558	$2,178	$3,384

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 postretirement 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.