Annual report pursuant to Section 13 and 15(d)

Other Operating Expense, Net

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Other Operating Expense, Net
 12 Months Ended
Dec. 31, 2020
Other Income and Expenses [Abstract]  
Other Operating Expense, Net
9. Other Operating Expense, Net:
A summary of other operating expense, net is as follows:
Years ended
December 31,
2020 2019 2018
Amortization expense $ 26,923  $ 26,888  $ 27,258 
Transaction and other related costs(1)
8,274  407  491 
Restructuring, integration and business optimization costs(2)
13,028  2,692  5,819 
Net (gain) loss on asset disposals(3)
(134) (13,207) 4,190 
Insurance recoveries(4)
—  —  (5,480)
Write-off of long-term supply contract obligation (Note 25) —  —  (20,612)
Environmental related costs 1,092  2,522  638 
Other, net 1,803  2,076  4,123 
$ 50,986  $ 21,378  $ 16,427 

(1)Transaction and other related costs during the year ended December 31, 2020 primarily related to costs incurred from the strategic review of the Company’s Performance Chemicals business. Refer to Note 29 of these consolidated financial statements for additional details.
(2)During the year ended December 31, 2020, the Company’s results were impacted by costs associated with the execution of the Company’s strategic initiatives. The costs incurred during the year ended December 31, 2020 primarily relate to demolition and decommissioning costs related to various asset sales. The costs incurred during the years ended December 31, 2019 and 2018 relate to severance charges for certain executives and employees, transition/duplicate staffing, professional fees and other expenses related to the Company’s organization changes.
(3)During the year ended December 31, 2020, the Company recognized a gain of $4,958 related to the sale of a product line and a gain of $672 related to the sale of its interest in the Quaker Holdings joint venture, which were offset by fixed asset write-offs. During the year ended December 31, 2019, the Company recognized a gain of $11,518 related to the sale of a product line and a gain of $7,150 related to a property sale, which were partially offset by fixed asset write-offs. Refer to Note 8 of these consolidated financial statements for additional details.
(4)During the year ended December 31, 2018, the Company recognized $6,450 of insurance recoveries in its consolidated statement of income related to the Company’s claim for losses sustained during Hurricane Harvey in August 2017. For the year ended December 31, 2018, $5,480 was recorded as a gain in other operating expense, net, as reimbursement of expenses, $207 was recorded as a gain in net loss on asset disposals within other operating expense, net, for the Company’s previously recognized property losses, and $763 represented recoveries in excess of the Company’s property losses which was recorded as a non-operating gain in other expense, net, in the Company’s consolidated statement of income.