OTHER EXPENSE (INCOME), NET
Other expense (income), net, consists of the following:
|
| | | | | | | | | | | |
| December 31, |
(in thousands) | 2013 | | 2012 | | 2011 |
| | | | | |
Foreign exchange transaction losses | $ | 8,982 |
| | $ | 2,679 |
| | $ | 1,713 |
|
Other (income) expense, net | (653 | ) | | 490 |
| | 7,327 |
|
Total other expense (income), net | $ | 8,329 |
| | $ | 3,169 |
| | $ | 9,040 |
|
Foreign exchange transaction losses for the year ending December 31, 2013 and 2012, included approximately $6.9 million of interest and fair value adjustments and $1.3 million of interest on non-designated hedges, respectively. Other expense (income), net in the 2011 period included approximately $2.9 million of interest rate swap terminations, $3.8 million of Treasury rate lock ineffectiveness, and $0.6 million of other non-operating expenses.
