|
4. |
Other Income (Expense), Net |
The components of other income (expense), net, were as follows (dollars in millions):
|
|
|
Three Months Ended |
|
|
Six Months Ended |
|
|
|
|
June 30, |
|
|
June 30, |
|
|
|
|
2017 |
|
|
2016 |
|
|
2017 |
|
|
2016 |
|
|
DeRidder mill incident (a) |
|
$ |
2.5 |
|
|
$ |
— |
|
|
$ |
(2.5 |
) |
|
$ |
— |
|
|
Integration-related, facilities closure and other costs (b)(c) |
|
|
(0.5 |
) |
|
|
(2.6 |
) |
|
|
(1.3 |
) |
|
|
(4.5 |
) |
|
Hexacomb working capital adjustment (d) |
|
|
— |
|
|
|
— |
|
|
|
2.3 |
|
|
|
— |
|
|
Asset disposals and write-offs |
|
|
(2.4 |
) |
|
|
(1.1 |
) |
|
|
(4.7 |
) |
|
|
(2.9 |
) |
|
Other |
|
|
(0.2 |
) |
|
|
(1.4 |
) |
|
|
(1.4 |
) |
|
|
(1.6 |
) |
|
Total |
|
$ |
(0.6 |
) |
|
$ |
(5.1 |
) |
|
$ |
(7.6 |
) |
|
$ |
(9.0 |
) |
|
(a) |
The three and six months ended June 30, 2017 include $2.5 million of net recoveries and $2.5 million of costs, respectively, for the property damage and business interruption insurance recoveries and corresponding costs related to the February 2017 explosion at our DeRidder, LA mill. |
|
(b) |
The three and six months ended June 30, 2017 include $0.5 million and $1.3 million of charges consisting of closure costs related to corrugated products facilities, integration costs related to the recent acquisitions, and costs related to a lump sum settlement payment of a multiemployer pension plan withdrawal liability for one of our corrugated products facilities. |
|
(c) |
The three and six months ended June 30, 2016 include $2.6 million and $4.5 million of charges consisting of closure costs related to corrugated products facilities and a paper products facility, acquisition-related costs for the TimBar Corporation acquisition, and costs related to our withdrawal from a multiemployer pension plan for one of our corrugated products facilities. |
|
(d) |
The six months ended June 30, 2017 include $2.3 million of income related to a working capital adjustment from the April 2015 sale of our Hexacomb corrugated manufacturing operations in Europe and Mexico. |
|