Quarterly report pursuant to Section 13 or 15(d)

Other Income (Expense), Net

v2.4.0.8
Other Income (Expense), Net
6 Months Ended
Mar. 31, 2014
Other Income (Expense), Net  
Other Income (Expense), Net

12.       Other Income (Expense), Net

 

 

 

Three Months Ended

 

Six Months Ended

 

 

 

March 31,

 

March 31,

 

 

 

2014

 

2013

 

2014

 

2013

 

 

 

 

 

 

 

 

 

 

 

Equity in net income (loss) of affiliates

 

$

2.9

 

$

(0.4

)

$

2.7

 

$

(0.6

)

Foreign currency exchange gain (loss), net

 

(0.4

)

0.3

 

(0.7

)

1.1

 

Business acquisition and transition costs, net

 

 

 

 

0.8

 

Gain on exercise of warrants

 

5.2

 

 

5.2

 

 

Service agreement cancellation

 

2.5

 

 

2.5

 

 

Other, net

 

(0.5

)

(0.2

)

(0.1

)

(0.7

)

Other income and expense, net

 

$

9.7

 

$

(0.3

)

$

9.6

 

$

0.6

 

 

Since our spin-off from our former parent, we have held warrants to purchase the common stock of Forethought Financial Group, Inc. (“Forethought”).  Forethought was acquired by a third-party during the second quarter of 2014.  In connection with that acquisition, these warrants were exercised for $6.2, resulting in a gain of $5.2.

 

We recognized a $2.5 gain related to the cancellation of a service agreement at Batesville.

 

The acquisition of Coperion was transacted in euros.  Business acquisition and integration costs, net within other income and expense represent the foreign exchange gain recognized on euro-denominated cash required to fund the acquisition, offset by the costs of derivative contracts that hedged currency exposure on the funds required to close the transaction.