OTHER (INCOME)/EXPENSES-NET

3 Months Ended

Mar. 31, 2016

Other Income and Expenses [Abstract]

OTHER (INCOME)/EXPENSES-NET

OTHER (INCOME)/EXPENSES - NET

The components of other (income)/expenses - net were:

	Three Months Ended March 31,
(Dollars in millions)	2016			2015
Venezuela long-lived asset impairments	$	45.9		$	—
Foreign exchange (gains)/losses - net	33.7			(2.8		)
Restructuring, severance and other related costs	9.3			2.6
Legal settlements and other - net	(0.6		)	12.4
Other (income)/expenses - net	$	88.3		$	12.2

During the three months ended March 31, 2016, the Company recognized an impairment charge of $45.9 million on long-lived assets of its Venezuelan subsidiary. See Note 17 for additional information.

Foreign exchange (gains)/losses - net for the three months ended March 31, 2016 included a $32.3 million loss related to the change in exchange rate used for remeasuring the monetary assets and liabilities of its Venezuelan subsidiary. See Note 17 for additional information. Foreign exchange (gains)/losses - net for the three months ended March 31, 2015 included a gain of $1.8 million as a result of the Company’s exchange of Bolivares Fuertes for U.S. dollars through a Venezuelan government exchange at a rate more favorable than the rate used to remeasure net monetary assets of its Venezuelan subsidiary.

During the three months ended March 31, 2016, restructuring, severance and other related costs included $9.1 million of restructuring costs in association with the Fuel for Growth program. See Note 6 for additional information. During the three months ended March 31, 2015, legal settlements and other - net primarily included an accrual made in connection with the SEC settlement disclosed by the Company in July 2015.