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Other Expense (Income) | 3 Months Ended
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Mar. 31, 2021
Other Income and Expenses [Abstract] |
Other Expense (Income) | Other Expense (Income) Other expense (income) consists of:
| Three Months Ended March 31, |  |
($ in millions) | 2021 |  | 2020 |  |  |  |
Restructuring and related charges | $ | 1.2 |  |  | $ | — |  |  |  |  |
Fixed asset impairments and loss (gain) on sale of equipment | 0.1 |  |  | 0.2 |  |  |  |  |
Contingent consideration | 0.7 |  |  | — |  |  |  |  |
Foreign exchange transaction gains | (0.3) |  |  | (3.5) |  |  |  |  |
Other items | 2.2 |  |  | (0.2) |  |  |  |  |
Total other expense (income) | $ | 3.9 |  |  | $ | (3.5) |  |  |  |  |
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 $5.8 million in restructuring and related charges associated with this plan. The following table presents activity related to our restructuring obligations related to our 2020 restructuring plan:
($ in millions) | Severance and benefits |  |  |  | Other charges |  | Total
Balance, December 31, 2020 | $ | 4.6 |  |  |  |  | $ | — |  |  | $ | 4.6 |
Charges | 0.6 |  |  |  |  | 0.6 |  |  | 1.2 |
Cash payments | (0.1) |  |  |  |  | — |  |  | (0.1) |
Balance, March 31, 2021 | $ | 5.1 |  |  |  |  | $ | 0.6 |  |  | $ | 5.7 |
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 $13.7 million in restructuring and related charges associated with this plan. The plan is now considered complete. The following table presents activity related to our restructuring obligations related to our 2018 restructuring plan:
($ in millions) | Severance and benefits |  |  |  |  |  | Total
Balance, December 31, 2020 | $ | 0.1 |  |  |  |  |  |  | $ | 0.1 |
Cash payments | (0.1) |  |  |  |  |  |  | (0.1) |
Balance, March 31, 2021 | $ | — |  |  |  |  |  |  | $ | — |
Contingent Consideration Contingent consideration represents changes in the fair value of the SmartDose contingent consideration. Please refer to Note 10, Fair Value Measurements, for additional details. Other Items During the three months ended March 31, 2021, we recorded an impairment charge of $2.2 million for one of the Company's cost investments. During the three months ended March 31, 2021 and 2020, we recorded development income of $0.2 million and $0.2 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.

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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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