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Other Income (Expense), net | 12 Months Ended
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Dec. 31, 2021
Other Income (Expense), net. |
Other Income (Expense), net | 18. Other Income (Expense), net Other income (expense), net for the years ended December 31, 2021, 2020, and 2019 included the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2021 |  | 2020 |  | 2019 | ​
Charge related to Paddock support agreement liability (see Note 15) | ​ | $ | (154) | ​ | $ | ​ | ​ | $ | ​ | ​
Pension settlement charges (see Note 11) | ​ | ​ | (74) | ​ | ​ | (26) | ​ | ​ | (26) | ​
Restructuring, asset impairment and other charges (see Note 10) | ​ | ​ | (35) | ​ | ​ | (106) | ​ | ​ | (89) | ​
Gain on sale of miscellaneous assets (see Note 23) | ​ | ​ | 84 | ​ | ​ | ​ | ​ | ​ | ​ | ​
Brazil indirect tax credit (see Note 15) | ​ | ​ | 71 | ​ | ​ | ​ | ​ | ​ | ​ | ​
Gain on sale of ANZ businesses (see Note 23) | ​ | ​ | ​ | ​ | ​ | 275 | ​ | ​ | ​ | ​
Charge for asbestos-related costs (see Note 15) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (35) | ​
Charge for other asset impairments | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (22) | ​
Intangible amortization expense | ​ | ​ | (34) | ​ | ​ | (33) | ​ | ​ | (41) | ​
Strategic transaction and corporate modernization costs | ​ | ​ | ​ | ​ | ​ | (8) | ​ | ​ | (31) | ​
Gain on sale of equity investment | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 107 | ​
Charge for deconsolidation of Paddock (see Note 15) | ​ | ​ | ​ | ​ | ​ | (14) | ​ | ​ | ​ | ​
Impairment of goodwill (see Note 7) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (595) | ​
Royalty income | ​ | ​ | 24 | ​ | ​ | 12 | ​ | ​ | 12 | ​
Foreign currency exchange loss | ​ | ​ | (3) | ​ | ​ | (4) | ​ | ​ | (5) | ​
Other income (expense), net | ​ | ​ | 3 | ​ | ​ | (9) | ​ | ​ | (4) | ​
​ | ​ | $ | (118) | ​ | $ | 87 | ​ | $ | (729) | ​
​ In 2019, the Company recorded charges of approximately $22 million for asset impairments related to the Company’s operations in Argentina and China, due primarily to macroeconomic conditions in those countries. The Company wrote down the value of these assets to the extent their carrying amounts exceeded fair value. The fair value of the assets was computed based on estimated future cash flows. The Company classified the significant assumptions used to determine the fair value of the impaired assets, which was not material, as Level 3 (third-party appraisal) in the fair value hierarchy. The remaining carrying value of the impaired assets was approximately $5 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 -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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