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OTHER (INCOME) EXPENSE
 12 Months Ended
Dec. 31, 2025
Other Income and Expenses [Abstract]  
OTHER (INCOME) EXPENSE OTHER (INCOME) EXPENSE
Other General (Income) Expense - Net
Included in Other general (income) expense - net were the following:
202520242023
Provisions for environmental matters - net$15.3 $(1.3)$80.7 
Gain on divestiture of business (see Note 3)— — (20.1)
(Gain) loss on sale or disposition of assets(34.0)(49.9)0.9 
Other8.5 12.4 5.6 
Total$(10.2)$(38.8)$67.1 
Provisions for environmental matters – net represent initial provisions for site-specific estimated costs of environmental investigation or remediation and increases or decreases to environmental-related accruals as information becomes available upon which more accurate costs can be reasonably estimated and as additional accounting guidelines are issued. Provisions for environmental matters - net for the years ended December 31, 2024 and 2023 included an immaterial amount of insurance proceeds related to environmental cleanup at a current manufacturing site. See Note 10 for further information on the Company’s environmental-related activities.
The (gain) loss on sale or disposition of assets represents the net realized (gain) loss associated with the sale or disposal of property, plant and equipment and intangible assets previously used in the conduct of the primary business of the Company. (Gain) loss on sale or disposition of assets for the years ended December 31, 2025, 2024 and 2023 included an immaterial amount of insurance proceeds related to previous asset losses at a current manufacturing site.
There were no items within the Other caption that were individually significant at December 31, 2025, 2024 and 2023.
Other Expense (Income) - Net
Included in Other expense (income) - net were the following:
202520242023
Investment gains$(9.9)$(16.9)$(22.9)
Loss on extinguishment of debt (see Note 7)— — 12.8 
Net expense from banking activities16.4 15.7 15.0 
Foreign currency transaction related losses - net45.4 3.9 80.5 
Miscellaneous pension and benefit income(13.0)(13.1)(21.1)
Other income(30.6)(69.8)(48.5)
Other expense12.6 35.5 49.7 
Total$20.9 $(44.7)$65.5 
Investment gains primarily relate to the change in market value of the investments held in the deferred compensation plans. See Note 17 for further information on the fair value of these investments.
Foreign currency transaction related losses - net include the impact from foreign currency transactions, including from highly inflationary economies such as Argentina and net realized losses from foreign currency option and forward contracts. See Note 16 for further information regarding these foreign currency contracts. In addition, an immaterial loss was recognized in 2025 from a transaction to convert a foreign currency with limited liquidity to the U.S. dollar.
Miscellaneous pension and benefit income consists of the non-service components of Net periodic pension and benefit cost (credit). See Note 8 for further information.
Other income and Other expense include 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, 2025, 2024 and 2023.