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OTHER (INCOME) EXPENSE, NET

6 Months Ended

Jun. 30, 2023

Other Income and Expenses [Abstract]

OTHER (INCOME) EXPENSE, NET

OTHER (INCOME) EXPENSE, NET

Other (income) expense, net consists of:

						Three Months Ended June 30,												Six Months Ended June 30,
(in millions)						2023						2022						2023						2022
Litigation and other matters						$	(71)					$	8					$	(79)					$	7
Acquisition-related contingent consideration						(17)						(5)						14						(2)
Loss (Gain) on sale of assets, net						1						(3)						1						(3)
Acquired in-process research and development costs						—						1						—						1
Acquisition-related transaction costs						3						—						3						—
Other, Net						1						(1)						1						(1)
						$	(83)					$	—					$	(60)					$	2

For the three and six months ended June 30, 2023, Litigation and other matters primarily related to insurance recoveries regarding certain litigation matters.

Acquisition-related contingent consideration for the six months ended June 30, 2023, reflects adjustments for changes in estimates in the timing and amounts of the future royalty and milestone payments related to certain branded products.

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- References

No definition available.

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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

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