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Other (Income) Expense, Net

9 Months Ended

Sep. 30, 2021

Other Income and Expenses [Abstract]

Other (Income) Expense, Net

Other (Income) Expense, Net

Other (income) expense, net, consisted of: 

			Three Months Ended September 30,												Nine Months Ended September 30,
($ in millions)			2021						2020						2021						2020
Interest income			$	(7)					$	(9)					$	(27)					$	(48)
Interest expense			196						203						597						624
Exchange losses			46						10						202						89
Income from investments in equity securities, net (1)			(683)						(360)						(1,535)						(964)
Net periodic defined benefit plan cost (credit) other than service cost			40						(88)						(159)						(259)
Other, net			(42)						(68)						(85)						(79)
			$	(450)					$	(312)					$	(1,007)					$	(637)

(1)    Includes net realized and unrealized gains and losses from investments in equity securities either owned directly or through ownership interests in investment funds. Unrealized gains and losses from investments that are directly owned are determined at the end of the reporting period, while ownership interests in investment funds are accounted for on a one quarter lag. The Company estimates that gains of approximately $540 million will be recorded in the fourth quarter of 2021 from ownership interests in investment funds.

Interest paid for the nine months ended September 30, 2021 and 2020 was $570 million and $605 million, respectively.

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- Definition

The entire disclosure for other income or other expense items (both operating and nonoperating). Sources of nonoperating income or nonoperating expense that may be disclosed, include amounts earned from dividends, interest on securities, profits (losses) on securities, net and miscellaneous other income or income deductions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 720
-URI http://asc.fasb.org/topic&trid=2122503

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 610
-URI http://asc.fasb.org/topic&trid=49130413

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