Other Expense (Income)

9 Months Ended

Sep. 30, 2020

Other Income and Expenses [Abstract]

Other expense (income) consists of:


	Three Months Ended September 30,						Nine Months Ended September 30,
($ in millions)	2020		2019		2020		2019
Restructuring and related charges:
Severance and post-employment benefits	$	4.5	$	0.6	$	4.5	$	2.2
Asset-related charges	—		0.1		—		0.1
Other charges	—		1.1		—		1.5
Total restructuring and related charges	4.5		1.8		4.5		3.8



Argentina currency devaluation	—		1.0		—		1.0
Fixed asset impairments	0.9		0.8		7.2		2.3
Development and licensing income	(0.2)		(0.2)		(0.6)		(0.6)
Contingent consideration	0.8		0.1		0.9		0.4
Foreign exchange transaction losses (gains)	1.0		5.1		(4.5)		(3.5)
Other items	(0.3)		(2.2)		(1.3)		(1.8)
Total other expense (income)	$	6.7	$	6.4	$	6.2	$	1.6

Restructuring and Related Charges

In July 2020, our Board of Directors approved a restructuring plan designed to optimize certain organizational structures within the Company to better support our continued growth and business priorities. These changes are expected to be implemented over a period of up to twenty-four months from the date of approval. The plan is expected to require restructuring and related charges of approximately $15 million to $17 million. Since its approval, we recorded a net pre-tax amount equal to $4.5 million in restructuring related charges associated with this plan. All charges recorded to date are severance related and recorded within other expense (income) in the condensed consolidated statements of income.

The following table presents activity related to our restructuring obligations related to our 2020 restructuring plan:


($ in millions)	Severance and benefits		Total
Balance, December 31, 2019	$	—	$	—
Charges	4.5		4.5
Cash payments	—		—

Balance, September 30, 2020	$	4.5	$	4.5

In February 2018, our Board of Directors approved a restructuring plan designed to realign our manufacturing capacity with demand. These changes were expected to be implemented over a period of up to twenty-four months from the date of approval. The plan was expected to require restructuring and related charges of approximately $16 million. Since its approval, we have recorded $13.7 million in restructuring and related charges associated with this plan. The plan was considered complete as of December 31, 2019.

During the three months ended September 30, 2019, we recorded $1.8 million in restructuring and related charges associated with this plan, consisting of $0.6 million for severance charges, $0.1 million for non-cash asset write-downs associated with the discontinued use of certain equipment, and $1.1 million for other non-cash charges.

During the nine months ended September 30, 2019, we recorded $3.8 million in restructuring and related charges associated with this plan, consisting of $2.2 million for severance charges, $0.1 million for non-cash asset write-downs associated with the discontinued use of certain equipment, and $1.5 million for other non-cash charges.

The following table presents activity related to our restructuring obligations related to our 2018 restructuring plan:


($ in millions)	Severance and benefits		Total
Balance, December 31, 2019	$	1.4	$	1.4

Cash payments	(1.2)		(1.2)

Balance, September 30, 2020	$	0.2	$	0.2

On February 15, 2016, our Board of Directors approved a restructuring plan designed to repurpose several of our production facilities in support of growing high-value proprietary products and to realign operational and commercial activities to meet the needs of our new market-focused commercial organization. Our remaining restructuring obligations related to the 2016 restructuring plan are complete.

Other Items

During both the three and nine months ended September 30, 2020 and 2019, we recorded development income of $0.2 million and $0.6 million, respectively, related to a nonrefundable customer payment of $20.0 million received in June 2013 in return for the exclusive use of the SmartDose technology platform within a specific therapeutic area. Please refer to Note 3, Revenue, for additional information.

Contingent consideration represents changes in the fair value of the SmartDose contingent consideration. Please refer to Note 10, Fair Value Measurements, for additional details.