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OTHER INCOME (EXPENSE), NET | 12 Months Ended
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Dec. 31, 2023
Other Income and Expenses [Abstract] |
OTHER INCOME (EXPENSE), NET | Q. OTHER INCOME (EXPENSE), NET Other, net, which is included in other income (expense), net, was as follows, in millions:
| Year Ended December 31, |
| 2023 |  | 2022 |  | 2021 |
Income from cash and cash investments | $ | 9 |  |  | $ | 2 |  |  | $ | 1 |  |
Net periodic pension and post-retirement benefit expense (A) | (8) |  |  | (10) |  |  | (430) |  |
Equity investment (loss) income, net | (1) |  |  | (6) |  |  | 11 |  |
Foreign currency transaction losses | (1) |  |  | (3) |  |  | (4) |  |
Realized gains from private equity funds | 1 |  |  | — |  |  | — |  |
Contingent consideration (B) | — |  |  | 24 |  |  | (16) |  |
Loss on sale of businesses, net | — |  |  | (1) |  |  | (18) |  |
Gain on preferred stock redemption (C) | — |  |  | — |  |  | 14 |  |
Dividend income | — |  |  | — |  |  | 6 |  |
Other items, net | (4) |  |  | (2) |  |  | (3) |  |
Total other, net | $ | (4) |  |  | $ | 4 |  |  | $ | (439) |  |
(A)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 M for additional information. (B)We recognized $24 million of income in 2022 and $16 million of expense in 2021 from the revaluation of contingent consideration related to our acquisition of Kraus USA Inc. in the fourth quarter of 2020. (C)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.

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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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