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Other Expense (Income), Net
 9 Months Ended
Sep. 30, 2014
Other Income and Expenses [Abstract]  
Other Expense
Other Expense (Income), net

Items included in other expense (income), net consist of:
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
(millions of dollars)
2014
 
2013
 
2014
 
2013
Restructuring expense
$
13.1

 
$
—

 
$
67.6

 
$
—

Pension settlement
2.7

 
—

 
2.7

 
—

Program termination agreement
—

 
—

 
—

 
11.3

Retirement related obligations
—

 
—

 
—

 
5.9

Other income
(3.5
)
 
(3.7
)
 
(8.2
)
 
(6.4
)
Other expense (income), net
$
12.3

 
$
(3.7
)
 
$
62.1

 
$
10.8



During the first nine months of 2014, the Company recorded restructuring expense of $67.6 million related to Drivetrain and Engine segment actions designed to improve future profitability and competitiveness. See the Restructuring footnote for further discussion of these expenses.

In July 2014, the Company discharged certain U.S. pension plan obligations by making lump-sum payments to former employees of the Company. As a result of this action, the Company recorded a settlement loss of $2.7 million in the U.S. pension plan during the third quarter of 2014.

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.