Other Income (Expense), Net (Tables)

12 Months Ended

Dec. 31, 2020

Other Income And Expenses [Abstract]

The following table sets forth the components of the Company’s other income (expense), net for the years ended December 31, 2020, 2019, and 2018.

	Year Ended December 31,
	2020			2019			2018
Leasing, contract services, and miscellaneous income (1)	$	20		$	51		$	79
Royalty income (2)		18			16			10
Gain on sales of assets and businesses (3)		8			10			45
Exchange (losses) gains, net (4)		(26	)		(2	)		1
Non-operating pension and other post-retirement employee benefit income (cost) (5)		1			(368	)		27
Total other income (expense), net	$	21		$	(293	)	$	162

(1)

Leasing, contract services, and miscellaneous income includes European Union fluorinated greenhouse gas quota authorization sales of $3, $41, and $67 for the years ended December 31, 2020, 2019, and 2018, respectively.

(2)

Royalty income for the years ended December 31, 2020, 2019, and 2018 is primarily from technology licensing.

(3)

For the year ended December 31, 2020, gain on sale includes a $6 gain associated with the sale of the Company’s Oakley, California site, which was contingent upon the completion of certain environmental remediation activities at the site. For the year ended December 31, 2019, gain on sale includes a non-cash gain of $9 recognized in connection with the Company’s sale of its Repauno, New Jersey site; the gain had been deferred until certain environmental obligations were fulfilled. For the year ended December 31, 2018, gain on sale includes a $3 gain and a $42 gain associated with the sales of the Company’s East Chicago, Indiana and Linden, New Jersey sites, respectively.

(4)

Exchange (losses) gains, net includes gains and losses on the Company’s foreign currency forward contracts that have not been designated as a cash flow hedge.

(5)

Non-operating pension and other post-retirement employee benefit income (cost) represents the components of net periodic pension income (cost), excluding the service cost component. The year ended December 31, 2019 includes a $380 settlement loss related to a significant portion of the Company’s Netherlands pension plan, specific to the vested pension benefits of the inactive participants. Refer to “Note 27 – Long-term Employee Benefits” for further details.