XML 54 R37.htm IDEA: XBRL DOCUMENT v3.5.0.2
Other (income) expense, net (Tables)
 6 Months Ended
Jun. 30, 2016
Other Income and Expenses [Abstract]  
Interest and Other Income
Components of other (income) expense, net are as follows:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
In millions
2016
 
2015
 
2016
 
2015
Foreign currency exchange (income) loss
$
(1.1
)
 
$
0.6

 
$
(4.8
)
 
$
1.5

Royalty and sundry (income) loss (1)
(0.8
)
 
—

 
(0.9
)
 
(1.7
)
Restructuring and other (income) charges, net (2)
1.0

 
(0.4
)
 
5.6

 
(0.7
)
Other (income) expense, net
$
(0.9
)
 
$
0.2

 
$
(0.1
)
 
$
(0.9
)
_______________
(1)
Primarily represents royalty income for technology licensing.
(2)
See below for more information regarding the Company's restructuring and other (income) charges, net.
Restructuring and Related Costs
Below provides detail of the restructuring and other (income) charges, net incurred.
 
Three Months Ended June 30,
 
Six Months Ended June 30,
In millions
2016
 
2015
 
2016
 
2015
Restructuring and other (income) charges, net
 
 
 
 
 
 
 
Gain on sale of assets and businesses
$
—

 
$
(0.4
)
 
$
—

 
$
(0.7
)
Severance and other employee-related costs (1)
—

 
—

 
4.5

 
—

Asset write-downs (2)
0.3

 
—

 
0.4

 
—

Other (income) charges, net (3)
0.7

 
—

 
0.7

 
—

Total restructuring and other (income) charges, net
$
1.0

 
$
(0.4
)
 
$
5.6

 
$
(0.7
)
_______________
(1)
Represents severance and employee benefit charges. Income represents adjustments to previously recorded severance and employee benefits.
(2)
Primarily represents accelerated depreciation and impairment charges on long-lived assets, which were or are to be abandoned. To the extent incurred the acceleration effect of re-estimating settlement dates and revised cost estimates associated with asset retirement obligations due to facility shutdowns are also included within the asset write-downs.
(3)
Primarily represents costs associated with rental payments, contract terminations, and other miscellaneous exit costs. Other Income primarily represents favorable developments on previously recorded exit costs as recoveries associated with restructuring activities.
The following table shows a roll forward of restructuring reserves that will result in cash spending.
 
Balance at
 
Change in
 
Cash
 
 
 
Balance at
In millions
12/31/2015 (1)
 
Reserve (2)
 
Payments
 
Other (3)
 
6/30/2016 (1)
Restructuring Reserves
$
—

 
5.2

 
(3.6
)
 
(0.1
)
 
$
1.5

_______________
(1)
Included in "Accrued Expenses" on the Consolidated and Combined Balance Sheet.
(2)
Includes severance and other employee-related costs, exited leases, contract terminations and other miscellaneous exit costs. Any asset write-downs including accelerated depreciation and impairment charges are not included in the above table.
(3)
Primarily foreign currency translation adjustments.