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Other (Income) Expense - Net | 12 Months Ended
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Dec. 31, 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:
(In millions) | Year Ended December 31
| 2021 |  | 2020 |  | 2019
(Gain) loss on sales of assets and businesses | $ | (100) |  |  | $ | (138) |  |  | $ | 39 |
Pension settlement | 83 |  |  | — |  |  | — |
Other – net | (77) |  |  | (117) |  |  | (28) |
| $ | (94) |  |  | $ | (255) |  |  | $ | 11 |
Individually significant items included in the table above are: Gains on sales of assets for the year ended December 31, 2021 consisted of gains on the sale of the Company’s ethanol production complex in Peoria, Illinois of $22 million, the sale of certain other assets, and disposals of individually insignificant assets in the ordinary course of business. Gain on sales of assets for the year ended December 31, 2020 included a gain on the sale of a portion of the Company’s shares in Wilmar and net gains on the sale of certain other assets and disposals of individually insignificant assets in the ordinary course of business. Gain (loss) on sales of assets for the year ended December 31, 2019 included a loss on the sale of the Company’s equity investment in CIP, partially offset by gains on the sale of certain other assets, and step-up gains on equity investments. Pension settlement for the year ended December 31, 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. Realized gains and losses on sales of available-for-sale marketable securities were immaterial for all periods presented. Other - net for the year ended December 31, 2021 included the non-service components of net pension benefit income of $16 million, foreign exchange gains, and other income. Other - net for the year ended December 31, 2020 included the non-service components of net pension benefit income of $33 million, foreign exchange gains, and other income. Other - net for the year ended December 31, 2019 included the non-service components of net pension benefit income of $15 million and other income, partially offset by foreign exchange losses.

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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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