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Other Expense | 9 Months Ended
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Sep. 30, 2018
Other Income and Expenses [Abstract] |
Other Expense | Other (Income) Expense Other (income) expense consists of:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
($ in millions) | 2018 |  | 2017 |  | 2018 |  | 2017
Restructuring and related charges: |  |  |  |  |  |  |
Severance and post-employment benefits | $ | 0.1 |  |  | $ | — |  |  | $ | 3.4 |  |  | $ | — |
Asset-related charges | 0.4 |  |  | — |  |  | 0.8 |  |  | — |
Other charges | 0.7 |  |  | — |  |  | 2.5 |  |  | — |
Total restructuring and related charges | 1.2 |  |  | — |  |  | 6.7 |  |  | — |
Argentina currency devaluation | 1.1 |  |  | — |  |  | 1.1 |  |  | — |
Venezuela deconsolidation | — |  |  | — |  |  | — |  |  | 11.1 |
Development and licensing income | (0.2 | ) |  | (9.5 | ) |  | (0.6 | ) |  | (10.3 | )
Contingent consideration | 0.2 |  |  | (0.2 | ) |  | 0.8 |  |  | 0.5 |
Other items | (2.5 | ) |  | 0.2 |  |  | (4.0 | ) |  | 1.8 |
Total other (income) expense | $ | (0.2 | ) |  | $ | (9.5 | ) |  | $ | 4.0 |  |  | $ | 3.1 |
Restructuring and Related Charges In February 2018, our Board of Directors approved a restructuring plan designed to realign our manufacturing capacity with demand. These changes are expected to be implemented over the following twelve to twenty-four months. The plan will require restructuring and related charges in the range of $8.0 million to $13.0 million and capital expenditures in the range of $9.0 million to $14.0 million. Once fully completed, we expect that the plan will provide us with annualized savings in the range of $17.0 million to $22.0 million. During the three months ended September 30, 2018, we recorded $1.2 million in restructuring and related charges associated with this plan, consisting of $0.1 million for severance charges, $0.4 million for non-cash asset write-downs associated with the discontinued use of certain equipment, and $0.7 million for other charges. During the nine months ended September 30, 2018, we recorded $6.7 million in restructuring and related charges associated with this plan, consisting of $3.4 million for severance charges, $0.8 million for non-cash asset write-downs associated with the discontinued use of certain equipment, and $2.5 million for other charges. The following table presents activity related to our restructuring obligations related to the 2018 restructuring plan:
($ in millions) | Severance and benefits |  | Asset-related charges |  | Other charges |  | Total
Balance, December 31, 2017 | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Charges | 3.4 |  |  | 0.8 |  |  | 2.5 |  |  | 6.7 |
Cash payments | (0.2 | ) |  | — |  |  | — |  |  | (0.2 | )
Non-cash asset write-downs | — |  |  | (0.8 | ) |  | (2.5 | ) |  | (3.3 | )
Balance, September 30, 2018 | $ | 3.2 |  |  | $ | — |  |  | $ | — |  |  | $ | 3.2 |
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. Please refer to Note 14, Other Expense, to the consolidated financial statements in our 2017 Annual Report for further discussion of the 2016 Plan. Our remaining restructuring obligations related to the 2016 Plan as of September 30, 2018 were $1.0 million. Other Items During the three and nine months ended September 30, 2018, we recorded a charge of $1.1 million related to the classification of Argentina’s economy as highly inflationary under U.S. GAAP as of July 1, 2018. During the nine months ended September 30, 2017, as a result of the continued deterioration of conditions in Venezuela as well as our continued reduced access to USD settlement controlled by the Venezuelan government, we recorded a charge of $11.1 million related to the deconsolidation of our Venezuelan subsidiary, following our determination that we no longer met the U.S. GAAP criteria for control of that subsidiary. This charge included the derecognition of the carrying amounts of our Venezuelan subsidiary’s assets and liabilities, as well as the write-off of our investment in our Venezuelan subsidiary, related unrealized translation adjustments and the elimination of intercompany accounts. As of April 1, 2017, our consolidated financial statements exclude the results of our Venezuelan subsidiary. In addition, during the three and nine months ended September 30, 2018, 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. During the three and nine months ended September 30, 2017, we recorded income of $0.4 million and $1.2 million, respectively, related to this nonrefundable customer payment. Please refer to Note 3, Revenue, for additional information. In addition, during the three and nine months ended September 30, 2017, we recorded income of $9.1 million attributable to the reimbursement of certain costs related to a technology that we subsequently licensed to a third party. The license of technology to the third party may result in additional income in the future, contingent on commercialization of the related product. Contingent consideration represents changes in the fair value of the SmartDose contingent consideration. Please refer to Note 9, Fair Value Measurements, for additional details. Other items consist of foreign exchange transaction gains and losses, gains and losses on the sale of fixed assets, and miscellaneous income and charges.

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- Definition The entire disclosure for other income or other expense items (both operating and nonoperating). Sources of nonoperating income or nonoperating expense that may be disclosed, include amounts earned from dividends, interest on securities, profits (losses) on securities, net and miscellaneous other income or income deductions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 720 -URI http://asc.fasb.org/topic&trid=2122503 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 610 -URI http://asc.fasb.org/topic&trid=49130413 + Details
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