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Other Expense (Income) | 12 Months Ended
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Dec. 31, 2021
Other Income and Expenses [Abstract] |
Other Expense (Income) | Other Expense (Income) Other expense (income) consisted of:
($ in millions) | 2021 |  | 2020 |  | 2019
Restructuring and related charges: |  |  |  |  |
Severance and post-employment benefits | $ | 0.6 |  |  | $ | 4.6 |  |  | $ | 2.6 |
Asset-related charges | — |  |  | — |  |  | 0.3 |
Other charges | 1.6 |  |  | — |  |  | 2.0 |
Total restructuring and related charges | $ | 2.2 |  |  | $ | 4.6 |  |  | $ | 4.9 |
Fixed asset impairments and sale of equipment, net | 1.3 |  |  | 7.7 |  |  | 0.8 |
Argentina currency devaluation | — |  |  | — |  |  | 1.0 |
Brazil tax recovery | — |  |  | — |  |  | (4.7) |
Development and licensing income | (0.9) |  |  | (0.9) |  |  | (0.9) |
Contingent consideration | 1.5 |  |  | 1.2 |  |  | 2.1 |
Foreign exchange transaction gains | (1.4) |  |  | (1.5) |  |  | (4.6) |
Cost investment activity | 4.3 |  |  | 2.5 |  |  | — |
Other items | 0.9 |  |  | (1.6) |  |  | (1.1) |
Total other expense (income) | $ | 7.9 |  |  | $ | 12.0 |  |  | $ | (2.5) |
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 the 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 $7 million to $8 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 $6.8 million in restructuring related charges associated with this plan. The following table presents activity related to our restructuring obligations related to our 2020 restructuring plan:
($ in millions) | Severance and benefits |  |  | Other charges |  | Total
Balance, December 31, 2020 | $ | 4.6 |  |  |  | $ | — |  |  | $ | 4.6 |
Charges | 0.6 |  |  |  | 1.6 |  |  | 2.2 |
Cash payments | (2.4) |  |  |  | (1.1) |  |  | (3.5) |
Balance, December 31, 2021 | $ | 2.8 |  |  |  | $ | 0.5 |  |  | $ | 3.3 |
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 the approval. The plan was expected to require restructuring and related charges of approximately $16.0 million. Since its approval, we recorded $13.7 million in restructuring and related charges associated with this plan. The plan is now considered complete. During 2019, we recorded $4.9 million in restructuring and related charges associated with this plan, consisting of $2.6 million for severance charges, $0.3 million for non-cash asset write-downs associated with the discontinued use of certain equipment, and $2.0 million for other non-cash charges. The following table presents activity related to our restructuring obligations related to our 2018 restructuring plan:
($ in millions) | Severance and benefits |  |  |  |  |  | Total
Balance, December 31, 2019 | $ | 1.4 |  |  |  |  |  |  | $ | 1.4 |
Cash payments | (1.3) |  |  |  |  |  |  | (1.3) |
Balance, December 31, 2020 | $ | 0.1 |  |  |  |  |  |  | $ | 0.1 |
Cash payments | (0.1) |  |  |  |  |  |  | (0.1) |
Balance, December 31, 2021 | $ | — |  |  |  |  |  |  | $ | — |
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 2019, we recorded $0.3 million in additional charges related to this restructuring plan. Our remaining restructuring obligations related to our 2016 restructuring plan are complete. Other During 2021, specific to our cost method investments, we recorded a total impairment charge of $4.6 million which was offset by a net gain of $0.3 million on the sale of a cost investment. During 2020, specific to our cost method investments, we recorded a total impairment charge of $2.5 million. During 2019, we recorded a charge of $1.0 million as a result of the continued devaluation of Argentina’s currency. During 2019, we recognized a tax recovery of $4.7 million related to previously-paid international excise taxes, following a favorable court ruling. During 2021, 2020 and 2019, we recorded development income of $0.9 million in each year, 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. Contingent consideration represents changes in the fair value of the SmartDose contingent consideration. Please refer to Note 12, Fair Value Measurements, for additional details.

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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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