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OTHER INCOME (EXPENSE), NET (Tables)

12 Months Ended

Dec. 31, 2022

Other Income and Expenses [Abstract]

Schedule of components of other, net, which is included in other income (expense), net

Other, net, which is included in other income (expense), net, was as follows, in millions:

			Year Ended December 31,
			2022						2021						2020
Contingent consideration (A)			$	24					$	(16)					$	—
Net periodic pension and post-retirement benefit expense (B)			(10)						(430)						(35)
Equity investment (loss) income, net			(6)						11						3
Foreign currency transaction losses (C)			(3)						(4)						(10)
Income from cash and cash investments			2						1						3
Loss on sale of business, net			(1)						(18)						—
Gain on preferred stock redemption (D)			—						14						—
Dividend income			—						6						10
Other items, net (E)			(2)						(3)						9
Total other, net			$	4					$	(439)					$	(20)

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(A)We recognized $24 million of income in 2022 and $16 million of expense in 2021 from the revaluation of contingent consideration related to a prior acquisition. Refer to Note I for additional information.

(B)In the second quarter of 2021, we settled our qualified domestic defined-benefit pension plans and recognized $406 million of additional pension expense. In the fourth quarter of 2021, we recognized a $7 million reduction in pension expense related to the reversion of excess pension plan assets for the settlement of such plans. Refer to Note N for additional information.

(C)Included in foreign currency transaction losses for 2020 was a $9 million deferred currency translation loss reclassified from accumulated other comprehensive income in conjunction with the liquidation of certain UK dormant entities upon receiving final regulatory approval in 2020.

(D)In May 2021, we received, in cash, $166 million for the redemption of the ACProducts Holding, Inc. preferred stock, including all accrued but unpaid dividends, and recognized a gain of $14 million. Refer to Note C for additional information.

(E)Included in other items, net for 2020 was $9 million of miscellaneous income related to an escrow settlement.

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- Definition

Tabular disclosure of the components of non-operating income or non-operating expense that may include amounts earned from dividends, interest on securities, gains (losses) on securities sold, equity earnings of unconsolidated affiliates, net gain (loss) on sales of business, interest expense and other miscellaneous income or expense items.

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