XML 38 R23.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Other Expense | 12 Months Ended
--- | ---
Dec. 31, 2018
Other Income and Expenses [Abstract] |
Other (Income) Expense | Other Expense Other expense consisted of:
($ in millions) | 2018 |  | 2017 |  | 2016
Restructuring and related charges: |  |  |  |  |
Severance and post-employment benefits | $ | 3.1 |  |  | $ | — |  |  | $ | 8.9 |
Asset-related charges | 2.2 |  |  | — |  |  | 17.3 |
Other charges | 3.8 |  |  | — |  |  | 0.2 |
Total restructuring and related charges | $ | 9.1 |  |  | $ | — |  |  | $ | 26.4 |
Argentina currency devaluation | 1.1 |  |  | — |  |  | — |
Venezuela deconsolidation | — |  |  | 11.1 |  |  | — |
Venezuela currency devaluation | — |  |  | — |  |  | 2.7 |
Development and licensing income | (0.9 | ) |  | (10.6 | ) |  | (1.5 | )
Contingent consideration | (2.6 | ) |  | (2.4 | ) |  | 2.3 |
Other items | (4.8 | ) |  | 3.9 |  |  | (0.1 | )
Total other expense | $ | 1.9 |  |  | $ | 2.0 |  |  | $ | 29.8 |
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. During 2018, we recorded $8.8 million in restructuring and related charges associated with this plan, consisting of $3.1 million for severance charges, $2.2 million for non-cash asset write-downs associated with the discontinued use of certain equipment, and $3.5 million for other charges. The following table presents activity related to our restructuring obligations related to our 2018 restructuring plan:
($ in millions) | Severance and benefits |  | Asset-related charges |  | Other charges |  | Total
Balance, December 31, 2017 | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Charges | 3.1 |  |  | 2.2 |  |  | 3.5 |  |  | 8.8 |
Cash payments | (0.8 | ) |  | — |  |  | — |  |  | (0.8 | )
Non-cash asset write-downs | — |  |  | (2.2 | ) |  | (3.5 | ) |  | (5.7 | )
Balance, December 31, 2018 | $ | 2.3 |  |  | $ | — |  |  | $ | — |  |  | $ | 2.3 |
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. During 2018, we recorded $0.3 million in additional charges related to this restructuring plan. Our remaining restructuring obligations related to our 2016 restructuring plan as of December 31, 2018 were $1.0 million. Other Items During 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. On February 17, 2016, the Venezuelan government announced a devaluation of the Bolivar, from the previously-prevailing official exchange rate of 6.3 Bolivars to USD to 10.0 Bolivars to USD, and streamlined the previous three-tiered currency exchange mechanism into a dual currency exchange mechanism. As a result, during 2016, we recorded a $2.7 million charge. In 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. During 2018, 2017 and 2016, we recorded development income of $0.9 million, $1.5 million and $1.5 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. In addition, during 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 11, 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. Other items changed in 2018 as a result of foreign exchange transaction gains of $5.5 million in 2018, as compared to foreign exchange transaction losses of $2.1 million in 2017, and a $1.1 million gain on the sale of fixed assets as a result of our restructuring plans.

X
- References No definition available. + Details
Name: | us-gaap_OtherIncomeAndExpensesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_OtherIncomeAndOtherExpenseDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration