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Other Expense, Net | 12 Months Ended
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Dec. 31, 2017
Other Income and Expenses [Abstract] |
Other Expense, Net |
3. | OTHER EXPENSE, NET
Other expense, net consists of significant items such as: restructuring charges generally related to significant plant closures or consolidations; impairment charges; gains or losses on disposal of facilities; re-measurement gains on acquisitions; and other items not reflective of on-going operating profit or loss. Other expense, net consists of:
|  | 2017 |  |  | 2016 |
North America [a] |  |  |  |  |  |  |  |
Restructuring charges |  | $ | 15 |  |  | $ | — |
Pension settlement |  |  | — |  |  |  | 13 |
|  |  | 15 |  |  |  | 13 |
Europe [b] |  |  |  |  |  |  |  |
Impairment of long-lived assets |  |  | 64 |  |  |  | — |
Impairment of investment |  |  | 17 |  |  |  | — |
Restructuring charges |  |  | 14 |  |  |  | 17 |
|  |  | 95 |  |  |  | 17 |
Asia [c] |  |  |  |  |  |  |  |
Gain on formation of a new venture |  |  | (45 | ) |  |  | — |
Corporate and Other [d] |  |  |  |  |  |  |  |
Gain on sale of investment |  |  | (26 | ) |  |  | — |
|  | $ | 39 |  |  | $ | 30 |
[a] | North America
For the year ended December 31, 2017 During 2017, the Company recorded net restructuring charges of $15 million [$11 million after tax] in North America for one of its body and chassis systems operations. For the year ended December 31, 2016 During 2016, the Company offered a limited lump-sum payout to certain terminated vested plan participants of its U.S. defined benefit pension plans. As a result of the partial settlement, the Company recognized a $13 million [$9 million after tax] non-cash settlement charge.
[b] | Europe
For the year ended December 31, 2017 During 2017, the Company recorded fixed asset impairment charges of $64 million [$64 million after tax] in Europe related to its body and chassis systems facilities. During 2017, the Company recorded an impairment charge of $17 million [$17 million after tax] on one of its European investments, which was accounted for under the equity method. During 2017, the Company recorded net restructuring charges of $14 million [$14 million after tax] in Germany at a powertrain systems facility. For the year ended December 31, 2016 During 2016, the Company recorded net restructuring charges of $17 million [$17 million after tax] in Germany at a powertrain systems facility.
[c] | Asia
For the year ended December 31, 2017 During 2017, the Company formed a new venture in China with Hubei Aviation Precision Machinery Co., Ltd. The transaction resulted in a gain of $45 million [$34 million after tax] [note 8].
[d] | Corporate and Other
For the year ended December 31, 2017 During 2017, the Company’s investment in Argus Cyber Security Ltd. was sold for proceeds of $33 million. A gain of $26 million [$26 million after tax] was recognized on the sale of the investment, which was accounted for under the cost method.

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 720 -URI http://asc.fasb.org/topic&trid=2122503 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 610 -URI http://asc.fasb.org/topic&trid=49130413 + Details
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