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Other Expense, Net | 9 Months Ended
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Sep. 30, 2017
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) | 2017 |  | 2016 |  | 2017 |  | 2016
Restructuring expense | $ | 13.3 |  |  | $ | 1.3 |  |  | $ | 13.3 |  |  | $ | 26.9 |
Merger and acquisition expense | 6.4 |  |  | 5.9 |  |  | 6.4 |  |  | 18.9 |
Lease termination settlement | — |  |  | — |  |  | 5.3 |  |  | — |
Asset impairment expense | — |  |  | 106.5 |  |  | — |  |  | 106.5 |
Other expense (income) | 2.3 |  |  | (2.6 | ) |  | 2.5 |  |  | (4.5 | )
Other expense, net | $ | 22.0 |  |  | $ | 111.1 |  |  | $ | 27.5 |  |  | $ | 147.8 |
During the three and nine months ended September 30, 2017, the Company recorded restructuring expense of $13.3 million. During the three and nine months ended September 30, 2016, the Company recorded restructuring expense of $1.3 million and $26.9 million, respectively. These expenses related to Drivetrain and Engine segment actions designed to improve future profitability and competitiveness. See the Restructuring footnote to the Condensed Consolidated Financial Statements for further discussion of these expenses. On September 27, 2017, the Company acquired 100% of the equity interests of Sevcon, Inc. ("Sevcon"), a global player in electrification technologies, serving customers in the U.S., U.K., France, Germany, Italy, China and the Asia Pacific region. As a result, the Company recorded $6.4 million of transaction related professional fees during the three months ended September 30, 2017. See the Recent Transactions footnote to the Consolidated Financial Statements for further discussion. During the three and nine months ended September 30, 2016, the Company incurred transition and realignment expenses and other professional fees of $5.9 million and $18.9 million, respectively, associated with the November 2015 acquisition of Remy International, Inc. ("Remy"). Additionally, in October 2016, the Company entered into a definitive agreement to sell the light vehicle aftermarket business associated with Remy. The Company determined that assets and liabilities subject to the Remy light vehicle aftermarket business sale met the held for sale criteria during the third quarter of 2016. The fair value of the assets and liabilities, based on the anticipated sale price, was less than the carrying value, therefore, the Company recorded an asset impairment expense of $106.5 million to adjust the net book value of this business to its fair value. During the fourth quarter of 2016, the Company sold the Remy light vehicle aftermarket business for approximately $80 million in cash. During the first three months of 2017, the Company recorded a loss of $5.3 million related to the termination of a long term property lease for a manufacturing facility located in Europe.

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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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