Other (Income)/Expense, Net

12 Months Ended

Jun. 30, 2024

OTHER (INCOME)/EXPENSE, NET

Other (income)/expense, net consists of the following:


Years ended June 30,	2024		2023		2022
Interest income on corporate funds	$	(241.3)	$	(149.5)	$	(41.0)


Realized losses on available-for-sale securities, net	5.9		14.7		4.4


Impairment of assets	—		2.1		23.0
Gain on sale of assets	(17.1)		—		(7.5)


Non-service components of pension income, net	(34.2)		(50.8)		(61.7)
Other (income)/expense, net	$	(286.7)	$	(183.5)	$	(82.8)

In fiscal 2024, interest income on corporate funds increased as compared to fiscal 2023, due to higher average interest rates of 3.3% for the year ended June 30, 2024, as compared to 2.4% for the year ended June 30, 2023, coupled with higher average investment balances for the year ended June 30, 2024 as compared to the year ended June 30, 2023.

In fiscal 2024, the Company recognized a gain of $17.1 million, in relation to the sale of buildings and land.

In fiscal 2022, the Company recorded impairment charges of $23.0 million, which is comprised of $12.1 million related to software and customer lists which were determined to have no future use and impairment charges of $10.9 million related to operating right-of-use assets associated with exiting certain leases early.

See Note 10 of our Consolidated Financial Statements for further details on non-service components of pension income, net.