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Other (Income) Expense, Net
12 Months Ended
Dec. 31, 2014
Other (Income) Expense, Net

13. Other (Income) Expense, Net

The components of other (income) expense, net, for the following years ended December 31 are:

 

      2014     2013     2012  
(dollars in millions)                   

Interest income

   $ (2.0   $ (1.3   $ (5.5

Foreign exchange losses (gains)

     1.7        4.4        (0.7

Litigation charges, net

     288.6        428.0        —     

Restructuring and productivity initiative costs

     11.8        (2.1     17.4   

Gain on sale of investment

     (7.1     —          —     

Acquisition-related items

     2.3        11.3        2.1   

Gore Proceeds

     —          (894.3     —     

Gain on the EP Sale

     —          (213.0     —     

Contribution to C. R. Bard Foundation, Inc.

     —          25.0        2.5   

Divestiture-related charges

     —          17.5        —     

Asset impairments

     —          6.4        22.2   

Other, net

     (4.4     (1.2     2.3   
  

 

 

   

 

 

   

 

 

 

Total other (income) expense, net

   $ 290.9      $ (619.3   $ 40.3   
  

 

 

   

 

 

   

 

 

 

Litigation charges, net – In 2014, the amount reflected estimated costs for product liability matters, net of recoveries, and litigation-related defense costs of $30.1 million in connection with the WHP Pre-Trial Orders. In 2013, the amount reflected estimated costs for product liability matters, net of recoveries, and other litigation matters. See Note 10 of the notes to consolidated financial statements.

 

Restructuring and productivity initiative costs – In 2014, the amount reflected employee separation costs of $7.5 million primarily to improve the overall cost structure in certain of the company’s vascular businesses. In addition, the amount reflected costs incurred in connection with a separate productivity initiative to streamline certain general and administrative functions to better align resources to the company’s business strategies. Key activities under this initiative may include systems enhancements and the implementation of shared services centers designed to standardize and centralize certain functions. Productivity initiative costs include consulting costs, primarily related to program creation and management, employee separation costs and other related costs. Employee separation costs of $1.7 million were recognized related to this initiative. In 2013, the amount reflected the reversal of certain 2012 Restructuring Plan costs incurred in 2012. In 2012, the amount reflected costs incurred under the 2012 Restructuring Plan and a reversal of certain restructuring costs incurred in 2011. See Note 3 of the notes to consolidated financial statements.

Gain on sale of investment – In 2014, the amount reflected the sale of an equity investment in an e-commerce technology company.

Acquisition-related items – The amounts consist of acquisition-related integration costs. See Note 2 of the notes to consolidated financial statements.

Gore Proceeds – See Note 10 of the notes to consolidated financial statements.

Gain on the EP Sale – See Note 2 of the notes to consolidated financial statements.

Contribution to C. R. Bard Foundation, Inc. – The amounts represent contributions to the C. R. Bard Foundation, Inc.

Divestiture-related charges – The amount reflected separation costs incurred in connection with the EP Sale. See Note 2 of the notes to consolidated financial statements.

Asset impairments – See Note 3 of the notes to consolidated financial statements.