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OTHER INCOME, NET | 12 Months Ended
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Dec. 31, 2023
Other Income and Expenses [Abstract] |
OTHER INCOME, NET | OTHER INCOME, NET The components of Other income, net are as follows:
|  | For the year ended December 31,
In millions |  | 2023 |  | 2022 |  | 2021
Foreign currency (loss) gain |  | $ | (20) |  |  | $ | 6 |  |  | $ | 8 |
Equity income |  | 25 |  |  | 17 |  |  | 20 |
Expected return on pension assets/amortization |  | 7 |  |  | 7 |  |  | 9 |
Other miscellaneous income (expense) |  | 32 |  |  | (1) |  |  | 1 |
Total Other income, net |  | $ | 44 |  |  | $ | 29 |  |  | $ | 38 |
As a result of the change in ownership interest and obtaining control of LKZ, Wabtec's previously held equity interest balance was remeasured to fair value, resulting in a gain of approximately $35 million recorded to Other income, net and is included in Other miscellaneous income (expense) above. See Note 3 for additional information.

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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 -Topic 610 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//610/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 720 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//720/tableOfContent + Details
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