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Other Expense (Income) | 9 Months Ended
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Sep. 30, 2021
Other Income and Expenses [Abstract] |
Other Expense (Income) | Other Expense (Income) Other expense (income) consists of:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
($ in millions) | 2021 |  | 2020 |  | 2021 |  | 2020
Restructuring and related charges | $ | 0.4 |  |  | $ | 4.5 |  |  | $ | 2.5 |  |  | $ | 4.5 |
Fixed asset impairments and loss (gain) on sale of equipment | 0.2 |  |  | 0.9 |  |  | 0.6 |  |  | 7.2 |
Contingent consideration | 0.1 |  |  | 0.8 |  |  | 0.9 |  |  | 0.9 |
Foreign exchange transaction losses (gains) | 0.4 |  |  | 1.0 |  |  | (2.5) |  |  | (4.5) |
Other items | 0.7 |  |  | (0.5) |  |  | 1.5 |  |  | (1.9) |
Total other expense (income) | $ | 1.8 |  |  | $ | 6.7 |  |  | $ | 3.0 |  |  | $ | 6.2 |
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 was originally expected to require restructuring and related charges of approximately $15 million to $17 million, with annualized savings being in the range of $3.5 million to $4.5 million. Due to the recent increase in customer demand, the Company will no longer proceed with certain portions of the plan, thus reducing the total expected charges to be approximately $9 million to $11 million. Similarly, annualized savings are now expected to be in the range of $0.9 million to $1.6 million. Since its approval, we recorded a net pre-tax amount equal to $7.1 million in restructuring and related charges associated with this plan. The following table presents activity related to our restructuring obligations related to our 2020 restructuring plan:
($ in millions) | Severance and benefits |  |  |  | Other charges |  | Total
Balance, December 31, 2020 | $ | 4.6 |  |  |  |  | $ | — |  |  | $ | 4.6 |
Charges | 1.0 |  |  |  |  | 1.5 |  |  | 2.5 |
Cash payments | (1.4) |  |  |  |  | (0.9) |  |  | (2.3) |
Balance, September 30, 2021 | $ | 4.2 |  |  |  |  | $ | 0.6 |  |  | $ | 4.8 |
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, September 30, 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 September 30, 2021, we recorded a net loss of $0.9 million on the sale of one of the Company's cost investments. During the nine months ended September 30, 2021, we recorded a net loss in our cost investment activity of $1.8 million, inclusive of an impairment charge of $2.2 million for one of the Company's cost investments. For the three and nine months ended September 30, 2020, there was no activity related to our cost investments. During both the three and nine months ended September 30, 2021 and 2020, 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.

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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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