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Other Expense (Income)
 12 Months Ended
Dec. 31, 2022
Other Income and Expenses [Abstract]  
OTHER EXPENSE (INCOME) OTHER EXPENSE (INCOME)
Other General (Income) Expense - Net
Included in Other general (income) expense - net were the following:
202220212020
Provisions for environmental matters - net$(7.1)$(4.0)$37.1 
Loss on divestiture (see Note 3)— 111.9 — 
Gain on sale or disposition of assets(17.8)(6.1)(9.4)
Total$(24.9)$101.8 $27.7 
Provisions for environmental matters – net represent initial provisions for site-specific estimated costs of environmental investigation or remediation and increases or decreases to environmental-related accruals. These provisions are recorded or adjusted as information becomes available upon which more accurate costs can be reasonably estimated and as additional accounting guidelines are issued. See Note 11 for further details on the Company’s environmental-related activities.
The gain on sale or disposition of assets represents the net realized gain associated with the sale or disposal of property, plant and equipment and intangible assets previously used in the conduct of the primary business of the Company.
Other Expense (Income) - Net
Included in Other expense (income) - net were the following:
202220212020
Investment losses (gains)$9.7 $(30.4)$(16.4)
(Gain) loss on extinguishment of debt (see Note 8)— (1.4)21.3 
Net expense from banking activities12.2 10.3 10.4 
Foreign currency transaction related losses33.6 12.0 7.2 
Miscellaneous pension expense4.0 4.4 4.9 
Other income(39.6)(29.0)(44.7)
Other expense27.1 14.6 22.6 
Total$47.0 $(19.5)$5.3 
Investment losses (gains) primarily relate to the change in market value of the investments held in the deferred compensation plan and qualified replacement plan. See Note 18 for additional information on the fair value of these investments. Foreign currency transaction related losses include the impact from foreign currency transactions and net realized (gains) losses from foreign currency option and forward contracts. There were no material foreign currency option and forward contracts outstanding at December 31, 2022, 2021 and 2020.
Miscellaneous pension expense consists of the non-service components of Net periodic benefit cost. See Note 9.
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 items within Other income or Other expense that were individually significant at December 31, 2022, 2021 and 2020.