OTHER

6 Months Ended

Jun. 30, 2020

Other Income and Expenses [Abstract]

OTHER

OTHER

Other general (income) expense - net

Included in Other general (income) expense - net were the following:

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Provisions for environmental matters - net	$	8.5	$	6.7	$	10.7	$	7.3
(Gain) loss on sale or disposition of assets	(9.6)		0.5		(8.1)		(0.6)
Other general (income) expense - net	$	(1.1)	$	7.2	$	2.6	$	6.7

Provisions for environmental matters - net represent site-specific increases or decreases to environmental-related accruals as information becomes available upon which more accurate costs can be reasonably estimated and as additional accounting guidelines are issued. Environmental-related accruals are not recorded net of insurance proceeds in accordance with the Offsetting Subtopic of the Balance Sheet Topic of the ASC. See Note 8 for further details on the Company’s environmental-related activities.

The (gain) loss on sale or disposition of assets represents net realized (gains) losses associated with the sale or disposal of fixed assets previously used in the conduct of the primary business of the Company.

Other expense - net

Included in Other expense - net were the following:

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Investment and royalty income	$	(4.9)	$	(0.8)	$	(2.6)	$	(5.6)
Loss on extinguishment of debt (see Note 6)					21.3
Net expense from banking activities	2.4		2.7		5.2		5.4
Foreign currency transaction related losses (gains)	6.5		(1.8)		10.4		(3.9)
Domestic pension plan settlement expense							32.4
Miscellaneous pension expense	1.1		2.0		2.3		4.1
Other income	(0.3)		(6.5)		(11.1)		(15.5)
Other expense	1.6		4.9		3.3		6.9
Other expense - net	$	6.4	$	0.5	$	28.8	$	23.8

Foreign currency transaction related losses (gains) represent net realized losses (gains) on U.S. dollar-denominated liabilities of foreign subsidiaries and net realized losses (gains) from foreign currency option and forward contracts. There were no material foreign currency option and forward contracts outstanding at June 30, 2020 and 2019.

Miscellaneous pension expense consists of the non-service components of net pension costs (credits). See Note 7 for information on Miscellaneous pension expense (income) and the Domestic pension plan settlement expense.

Other income and Other expense included items of revenue, gains, expenses and losses that were unrelated to the primary business purpose of the Company. There were no other items within the Other income or Other expense caption that were individually significant.