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Other Income, Net (Notes)
6 Months Ended
Jun. 30, 2022
Other Income and Expenses [Abstract]  
Other Income (Expenses), Net Other Income (Expenses), Net
Other income (expenses), net consist of the following for the periods presented:

Three Months Ended June 30, Six Months Ended June 30,
2022202120222021
Loss on extinguishment of debt (see Note 4)$(3)$(46)$(3)$(75)
Gain (loss) on financial instruments, net (see Note 7)(91)15 (43)
Net periodic pension benefits17 173 34 191 
Gain (loss) on equity investments, net64 (168)56 (153)
$79 $(132)$102 $(80)

Net periodic pension benefits

During the three and six months ended June 30, 2021, settlements for lump-sum distributions to pension plan participants exceeded the estimated annual interest cost of the plans. As a result, the pension liability and pension asset values were reassessed as of June 30, 2021 utilizing remeasurement date assumptions in accordance with the Company's mark-to-market pension accounting policy to record gains and losses in the period in which a remeasurement event occurs. Net periodic pension benefits includes a $155 million remeasurement gain recorded during the three and six months ended June 30, 2021, which was primarily driven by changes in the discount rate.

Gain (loss) on equity investments, net

Gain (loss) on equity investments, net includes impairments on equity investments of approximately $165 million for the three and six months ended June 30, 2021.