Other Expense

Items included in other expense consist of:



	Three Months Ended March 31,
(millions of dollars)	2014			2013
Restructuring expense	$	39.5		$	—
Program termination agreement	—			11.3
Retirement related obligations	—			5.9
Other income	(0.7		)	(0.3		)
Other expense	$	38.8		$	16.9

During the first quarter of 2014, the Company recorded restructuring expense of $39.5 million primarily related to continued Drivetrain segment actions designed to improve future profitability and competitiveness. See Note 15 for further discussion of these expenses.

In March 2013, the Company recorded an $11.3 million expense related to a program termination agreement, which was paid in 2013.

During the fourth quarter of 2012, the Company waived the forfeiture provision associated with future restricted stock grants made to certain retiring Named Executive Officers. The Company recorded a $5.9 million retirement related obligation primarily related to a first quarter 2013 grant of restricted stock awards to these Named Executive Officers.