Other Expense (Income)

3 Months Ended

Mar. 31, 2025

Other Income and Expenses [Abstract]

Other Expense (Income)

Other Expense (Income)

Other expense (income) consists of:

	Three Months Ended March 31,
($ in millions)	2025		2024
Restructuring and related charges	$	16.4	$	—
Contingent consideration	2.4		1.0
Foreign exchange transaction losses	1.2		1.2
Asset impairments	0.3		0.6
Other items	0.3		0.3
Total other expense (income)	$	20.6	$	3.1

Restructuring and Related Charges

In January 2025, the Company approved a restructuring plan to adjust our operating cost base to better respond to the macroeconomic factors influencing our business. These changes are expected to be implemented over a period of approximately twenty-four to thirty-six months from the date of approval. The plan is expected to require restructuring and related charges of approximately, $30 million to $32 million, with annualized savings in the range of $35 million to $40 million. The following table presents activity related to our restructuring obligations related to our 2025 restructuring plan:

($ in millions)	Severance and benefits		Asset-related charges		Total
Balance, December 31, 2024	$	—	$	—	$	—
Charges (Credits)	15.6		0.8		16.4
Cash payments	(4.5)		—		(4.5)
Non-cash asset write downs	—		(0.8)		(0.8)
Balance, March 31, 2025	$	11.1	$	—	$	11.1

Contingent Consideration

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