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Other (Income) Expense - Net | 6 Months Ended
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Jun. 30, 2021
Other Income and Expenses [Abstract] |
Other (Income) Expense - Net | Other (Income) Expense - Net The following table sets forth the items in other (income) expense:
| Three Months Ended |  | Six Months Ended
| June 30, |  | June 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
| (In millions)
Gains on sales of assets | $ | (28) |  |  | $ | (53) |  |  | $ | (39) |  |  | $ | (45) |
Early debt retirement charges | — |  |  | 14 |  |  | — |  |  | 14 |
Pension settlement | 82 |  |  | — |  |  | 82 |  |  | — |
Other – net | (5) |  |  | (17) |  |  | (27) |  |  | (49) |
Other (Income) Expense - Net | $ | 49 |  |  | $ | (56) |  |  | $ | 16 |  |  | $ | (80) |
Gains on sales of assets in all periods presented consisted of gains on the sale of certain assets and disposals of individually insignificant assets in the ordinary course of business. Early debt retirement charges in the prior period were related to the make-whole call provision on a bond. Pension settlement in the three and six months ended June 30, 2021 was related to the purchase of group annuity contracts that irrevocably transferred the future benefit obligations and annuity administration for certain salaried and hourly retirees and terminated vested participants under the Company’s ADM Retirement Plan and ADM Pension Plan for Hourly-Wage Employees to independent third parties. Other - net in the three and six months ended June 30, 2021 included the non-service components of net pension benefit income of $5 million and $11 million, respectively, foreign exchange gains, and other income and expense. Other - net in the three and six months ended June 30, 2020 included the non-service components of net pension benefit income of $8 million and $21 million, respectively, foreign exchange gains, and other income. Other - net in the six months ended June 30, 2020 also included loss provisions related to the Company’s futures commission and brokerage business.

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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 + Details
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