Other Operating Expense, Net |
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Other Operating Expense, Net |
9. Other Operating Expense, Net:
A summary of other operating expense, net is as follows:
(1)During the three and nine months ended September 30, 2020 and 2019, the Company’s results were impacted by costs associated with the execution of the Company’s Simpler + Stronger strategic initiatives. Reclassifications have been made to the historical “Other, net” line item to conform with the current year presentation.
(2)During the three and nine months ended September 30, 2020, the Company recognized a pre-tax gain of $4,958 related to the sale of a product line. Refer to Note 7 of these condensed consolidated financial statements for additional details.
During the nine months ended September 30, 2020, the Company recorded a loss of $6,475 related to the asset swap, which is reflected in net (gain) loss on asset disposals. Refer to Note 6 to these condensed consolidated financial statements for details on the asset swap.
During the nine months ended September 30, 2019, the Company recognized a gain of $11,362 related to the sale of a product line. Refer to Note 7 of these condensed consolidated financial statements for additional details.
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