Other Expense (Income)

Other expense (income) consisted of:



($ in millions)	2015			2014			2013
Pension settlement charge	$	50.4		$	—		$	—
Executive retirement and related costs	10.9			—			—
License costs	—			1.2			—
Development income	(1.5		)	(1.6		)	(2.0		)
Contingent consideration costs	1.1			1.0			1.0
Other items	(0.8		)	(0.8		)	0.5
Total other expense (income)	$	60.1		$	(0.2	)	$	(0.5	)

During 2015, we recorded a $50.4 million pension settlement charge, of which $47.0 million related to our purchase of a group annuity contract from MetLife and $3.4 million related to lump-sum payouts made to terminated vested participants of our U.S. qualified pension plan. Please refer to Note 13, Benefit Plans, for additional details.

In addition, during 2015, we recorded a $10.9 million charge for executive retirement and related costs, which included $2.4 million for a long-term incentive plan award for the Company’s previous CEO, $8.0 million for the revaluation of modified outstanding awards to provide for continued vesting for the Company’s previous CEO and Senior Vice President of Human Resources in conjunction with their retirement, and $0.5 million for other costs, including relocation and legal fees.

During 2014, we recorded a $1.2 million charge for license costs associated with acquired in-process research.

Development income of $1.5 million was recognized within Delivery Systems during 2015, related to a nonrefundable customer payment of $20.0 million received in June 2013 in return for the exclusive use of SmartDose within a specific therapeutic area. As of December 31, 2015, there was $15.9 million of unearned income related to this payment, of which $1.5 million was included in other current liabilities and $14.4 million was included in other long-term liabilities. The unearned income is being recognized as development income on a straight-line basis over the remaining term of the agreement. The agreement does not include a future minimum purchase commitment from the customer. During 2014 and 2013, we recorded development income of $1.6 million and $2.0 million, respectively, within Delivery Systems, of which $1.5 million and $1.0 million related to the nonrefundable customer payment described above.

Contingent consideration costs represent changes in the fair value of the SmartDose contingent consideration. Please refer to Note 10, Fair Value Measurements, for additional details.

Other items consist of foreign exchange transaction gains and losses, gains and losses on the sale of fixed assets, and miscellaneous income and charges.