Annual report pursuant to Section 13 and 15(d)

Other Income (Expense), Net

v2.4.0.8
Other Income (Expense), Net
12 Months Ended
Sep. 30, 2014
Other Income (Expense), Net  
Other Income (Expense), Net

12.Other Income (Expense), Net

 

 

Year Ended September 30,

 

 

 

2014

 

2013

 

2012

 

Equity in net income (loss) of affiliates

 

$

2.8

 

$

(1.3

)

$

1.6

 

Foreign currency exchange gain (loss)

 

(1.5

)

0.1

 

(0.5

)

Business acquisition costs, net

 

 

1.0

 

 

Gain on exercise of warrants

 

5.2

 

 

 

Service cancellation agreement

 

2.5

 

 

 

Other, net

 

(0.3

)

(0.2

)

(2.6

)

Other income (expense), net

 

$

8.7

 

(0.4

)

(1.5

)

 

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 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 during 2014.

 

The acquisition of Coperion was transacted in euros.  Business acquisition costs, net, within this income statement category represents 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.