XML 36 R8.htm IDEA: XBRL DOCUMENT
v3.3.0.814

Other Expense, Net | 9 Months Ended
--- | ---
Sep. 30, 2015
Other Income and Expenses [Abstract] |
Other Expense, net | Other Expense, net Items included in other expense, net consist of:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(in millions) | 2015 |  | 2014 |  | 2015 |  | 2014
Restructuring expense | $ | 9.3 |  |  | $ | 13.1 |  |  | $ | 41.3 |  |  | $ | 67.6 |
Merger and acquisition expense | 3.9 |  |  | — |  |  | 3.9 |  |  | — |
Gain on previously held equity interest | — |  |  | — |  |  | (10.8 | ) |  | — |
Pension settlement | — |  |  | 2.7 |  |  | — |  |  | 2.7 |
Other income | (0.1 | ) |  | (3.5 | ) |  | (1.0 | ) |  | (8.2 | )
Other expense, net | $ | 13.1 |  |  | $ | 12.3 |  |  | $ | 33.4 |  |  | $ | 62.1 |
During the first nine months of 2015 and 2014, the Company recorded restructuring expense of $41.3 million and $67.6 million, respectively. This expense relates to Drivetrain and Engine segment actions designed to improve future profitability and competitiveness, as well as a global realignment plan intended to enhance treasury management flexibility. See the Restructuring footnote to the Condensed Consolidated Financial Statements for further discussion of these expenses. On July 13, 2015, the Company announced that it had entered into a definitive agreement to acquire Remy International, Inc. ("Remy"). During the third quarter of 2015, the Company incurred $3.9 million of expenses primarily related to this anticipated transaction. During the first quarter of 2015, the Company completed the purchase of the remaining 51% of BERU Diesel Start Systems Pvt. Ltd. ("BERU Diesel") by acquiring the shares of its former joint venture partner. As a result of this transaction, the Company recorded a $10.8 million gain on the previously held equity interest in this joint venture. See the Recent Transactions footnote to the Condensed Consolidated Financial Statements for further discussion of this acquisition. In July 2014, the Company discharged certain U.S. pension plan obligations by making lump-sum payments to former employees of the Company. As a result of this action, the Company recorded a settlement loss of $2.7 million in the U.S. pension plan during the third quarter of 2014.

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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.3,6,7,9) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688 + Details
Name: | us-gaap_OtherIncomeAndOtherExpenseDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration