OTHER INCOME (EXPENSE), NET (Tables)

3 Months Ended

Mar. 31, 2024

Other Income and Expenses [Abstract]

Components of other income (expense), net

The components of other income (expense), net for the three months ended March 31, 2024 and 2023 were as follows (in millions):

	Three Months Ended March 31,
	2024		2023
Foreign currency transaction gains (losses) (1)	$	136	$	(53)
Net losses on equity securities (2)	(16)		(133)
Other	2		5
Other income (expense), net	$	122	$	(181)

(1)    Foreign currency transaction gains (losses) include gains of $167 million and losses of $26 million for the three months ended March 31, 2024 and 2023, respectively, related to Euro-denominated debt and accrued interest that were not designated as net investment hedges (see Note 9).

(2)    See Note 5 for additional information related to net losses on equity securities.