Axalta Coating Systems Ltd
For the period ended Dec 31, 2023. Filed Feb 15, 2024.
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FY2023 · Filed Feb 15, 2024
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(9) OTHER EXPENSE (INCOME), NET
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Foreign exchange losses, net | $22.7 | $15.2 | $2.9 |
| Debt extinguishment and refinancing-related costs (1) | 9.9 | 14.7 | 0.2 |
| Other miscellaneous income, net (2)(3) | (13.1) | (3.8) | (15.4) |
| Total | $19.5 | $26.1 | $(12.3) |
(1) Debt extinguishment and refinancing-related costs include third-party fees incurred, redemption premiums and the loss on extinguishment associated with the write-off of unamortized deferred financing costs and original issue discounts in conjunction with the restructuring and refinancing of our long-term borrowings, as discussed further in Note 18.
(2) Activity during the year ended December 31, 2022 includes expense of $4.7 million related to a charge for a customer concession discussed further in Note 2.
(3) Activity during the year ended December 31, 2021 includes income of $8.3 million related to a law change with respect to certain Brazilian indirect taxes.
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