Twelve Months Ended December 31, Change 2020 vs. 2019 2019 vs. 2018 Consolidated Interest and Other Income (Expense), net 2020 2019 2018 $ % $ % (In millions) Consolidated interest expense $ (141.6) $ (111.7) $ (103.5) $ (29.9) 27 % $ (8.2) 8  % Consolidated other income, net 150.2 33.3  25.9  116.9 351 % 7.4  29 % Average cost of debt 3.5 % 3.8 % 3.8 % Total consolidated debt, net, at year end $ 4,378.4 $ 3,382.6  $ 2,635.5  $ 995.8 29 % $ 747.1  28  % Interest Expense and Other Income (Expense), net Interest expense increased in 2020, when compared to 2019, due to the issuance of $1.0 billion in senior notes in April 2020 and $750.0 million senior notes issued in November 2019. This increase was partially offset by interest related to outstanding Commercial Paper and Receivables Funding Facility balances in 2019. Interest expense increased in 2019, when compared to 2018, due to an increase in our overall debt outstanding during the year due to borrowings on our Receivables Facility and under our commercial paper program. These borrowings were paid down with the proceeds from the issuance of the $750.0 million Senior Notes in November 2019. The increase in other income, net in 2020 is primarily due to gains recorded related to the fair value adjustment of our investment in Brazil of $116.6 million due to its initial public offering in the third quarter of 2020, as well as the $32.9 million gain recorded related to a fair value adjustment of the equity investment in India, for which we completed the acquisition of the remaining shareholder interest in the first quarter of 2020. This was partially offset by the $32.2 million mark-to-market fair value adjustment of pension assets which resulted in a loss during the fourth quarter of 2020. The increase in other income, net in 2019 is primarily due to higher earnings on certain equity method investments and partially offset by an increased loss related to the foreign exchange impact of remeasuring the peso denominated monetary assets and liabilities as a result of Argentina becoming a highly inflationary economy for accounting purposes starting in July 2018. Twelve Months Ended December 31, Change 2020 vs. 2019 2019 vs. 2018 Provision for Income Taxes 2020 2019 2018 $ % $ % (In millions) Consolidated (provision for) benefit from income taxes $ (159.0) $ 35.7  $ (53.4) $ (194.7) 545 % $ 89.1  (167) % Effective income tax rate 23.2 % 8.6  % 14.4  % Income Taxes Our effective tax rate was 23.2% for 2020, up from 8.6% for the same period in 2019. Our effective tax rate is higher for the year ended December 31, 2020 compared to 2019 due to the operating loss of the Company in 2019 and permanent tax differences resulting from certain non- deductible amounts related to the accrual for losses associated with certain legal proceedings and government investigations related to the 2017 cybersecurity incident. Our effective tax rate was 8.6% for 2019, down from 14.4% for the same period in 2018. Our effective tax rate is lower for the year ended December 31, 2019 compared to 2018 due to the operating loss of the Company in 2019 and permanent tax differences resulting from certain non- deductible amounts related to the accrual for losses associated with certain legal proceedings and government investigations related to the 2017 cybersecurity incident. 39