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OTHER OPERATING (INCOME) EXPENSE, NET | 3 Months Ended
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Mar. 31, 2022
Other Income and Expenses [Abstract] |
OTHER OPERATING (INCOME) EXPENSE, NET | OTHER OPERATING (INCOME) EXPENSE, NET Items included in Other operating expense, net consist of:
| Three Months Ended March 31, |  |
(in millions) | 2022 |  | 2021 |  |  |  |
Merger, acquisition and divestiture expense | $ | 23 |  |  | $ | 13 |  |  |  |  |
Gain on sale of business (Note 3) | (24) |  |  | — |  |  |  |  |
Net gain on insurance recovery for property damage | — |  |  | (2) |  |  |  |  |
Other income, net | (4) |  |  | (3) |  |  |  |  |
Other operating (income) expense, net | $ | (5) |  |  | $ | 8 |  |  |  |  |
Merger, acquisition and divestiture expense: During the three months ended March 31, 2022, the Company recorded merger, acquisition and divestiture expense of $23 million, primarily related to professional fees associated with specific acquisition and disposition initiatives. During the three months ended March 31, 2021, the Company recorded merger, acquisition and divestiture expense of $13 million. The expense for 2021 primarily related to professional fees for integration and other support associated with the Company’s acquisition of Delphi Technologies and professional fees associated with the acquisition of AKASOL.

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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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