Other Expense, net

Items included in other expense, net consist of:



	Three Months Ended September 30,						Nine Months Ended September 30,
(in millions)	2016			2015			2016			2015
Asset impairment expense	$	106.5		$	—		$	106.5		$	—
Restructuring expense	1.3			9.3			26.9			41.3
Merger and acquisition expense	5.9			3.9			18.9			3.9
Gain on previously held equity interest	—			—			—			(10.8		)
Other income	(2.6		)	(0.1		)	(4.5		)	(1.0		)
Other expense, net	$	111.1		$	13.1		$	147.8		$	33.4

During the fourth quarter of 2015, the Company acquired 100% of the equity interests in Remy International, Inc. ("Remy"). During the first nine months of 2016 and 2015, the Company incurred transition and realignment expenses and other professional fees associated with this transaction of $18.9 million and $3.9 million, respectively. Additionally, in October 2016, the Company entered into a definitive agreement to sell the light vehicle aftermarket business associated with Remy. As a result, the Company recorded an asset impairment expense of $106.5 million in the third quarter of 2016 to adjust the net book value of this business to fair value. See the Recent Transactions footnote to the Condensed Consolidated Financial Statements for further discussion of these transactions.

During the first nine months of 2016 and 2015, the Company recorded restructuring expense of $26.9 million and $41.3 million, respectively. This expense relates to Drivetrain and Engine segment actions designed to improve future profitability and competitiveness, as well as a global realignment plan intended to enhance treasury management flexibility. See the Restructuring footnote to the Condensed Consolidated Financial Statements for further discussion of these expenses.

During the first quarter of 2015, the Company completed the purchase of the remaining 51% of BERU Diesel Start Systems Pvt. Ltd. ("BERU Diesel") by acquiring the shares of its former joint venture partner. As a result of this transaction, the Company recorded a $10.8 million gain on the previously held equity interest in this joint venture. See the Recent Transactions footnote to the Condensed Consolidated Financial Statements for further discussion of this acquisition.