Table:
|  |  | Fiscal year ended January 31, |  |
| --- | --- | --- | --- |
|  | 2019 | 2018 | 2017 |
|  |  | (in millions) |  |
| Interest and investment expense, net | $(52.1) | $(34.5) | $(29.7) |
| Gain (loss) on foreign currency | 5.1 | (3.3) | (3.3) |
| Gain (loss) on strategic investments | 12.5 | (16.4) | 0.3 |
| Other income | 16.8 | 6.0 | 8.5 |
| Interest and other expense, net | $(17.7) | $(48.2) | $(24.2) |
Paragraphs:
Interest and Other Expense, Net
The following table sets forth the components of interest and other expense, net:
Interest and other expense, net, positively changed by $30.5 million during fiscal 2019, as compared to fiscal 2018, primarily driven by curtailment gains on our pension plans, mark-to-market gains on certain of our privately-held strategic investments, realized gains on sales of strategic investments, offset by an increase in interest expense resulting from our term loan entered into on December 17, 2018 in aggregate principal amount of $500 million and mark-to-market losses on marketable securities.
Interest and other expense, net, increased $24.0 million during fiscal 2018, as compared to fiscal 2017, primarily related to increases in impairment losses on certain of our privately-held strategic investments and interest expense resulting from our June 2017 issuance of $500.0 million aggregate principal amount of 3.5% notes due June 15, 2027.
Interest expense and investment income fluctuates based on average cash, marketable securities and debt balances, average maturities and interest rates.
Gains and losses on foreign currency are primarily due to the impact of re-measuring foreign currency transactions and net monetary assets into the functional currency of the corresponding entity. The amount of the gain or loss on foreign currency is driven by the volume of foreign currency transactions and the foreign currency exchange rates for the year
Question:
Why was there less interest and other expense in 2019 compared to 2018?
Answer: primarily driven by curtailment gains on our pension plans, mark-to-market gains on certain of our privately-held strategic investments, realized gains on sales of strategic investments, offset by an increase in interest expense resulting from our term loan entered into on December 17, 2018 in aggregate principal amount of $500 million and mark-to-market losses on marketable securities.