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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
The following sets forth the components of the Company’s other income (expense), net ($ in millions):
Three-Month Period EndedSix-Month Period Ended
June 30, 2023July 1, 2022June 30, 2023July 1, 2022
Other components of net periodic benefit costs$3 $11 $5 $15 
Investment gains (losses):
Realized investment gains (losses)— 27 — 64 
Unrealized investment gains (losses)(32)(125)(10)(186)
Total investment gains (losses)(32)(98)(10)(122)
Total other income (expense), net$(29)$(87)$(5)$(107)
Other Components of Net Periodic Benefit Costs
The Company disaggregates the service cost component of net periodic benefit costs of noncontributory defined benefit pension plans and other postretirement employee benefit plans and presents the other components of net periodic benefit costs in other income (expense), net. These other components of net periodic benefit costs include the assumed rate of return on plan assets, partially offset by amortization of actuarial losses and interest. The Company’s net periodic benefit costs for the six-month period ended July 1, 2022 included a settlement loss of $10 million ($9 million after-tax) as a result of the transfer of a portion of its non-U.S. pension liabilities related to one defined benefit plan to a third-party.
Investment Gains (Losses)
The Company estimates the fair value of its investments in equity securities using the Fair Value Alternative and records adjustments to fair value within net earnings. Additionally, the Company is a limited partner in partnerships that invest primarily in early-stage companies. While the partnerships record these investments at fair value, the Company’s investments in the partnerships are accounted for under the equity method of accounting. The investment gains (losses) include realized and unrealized gains and losses related to changes in the fair value of the Company’s investments in equity securities and the Company’s equity in earnings of the partnerships that reflect the changes in fair value of the investments of the partnerships, and related management fees and operating expenses. In addition, the Company recorded an impairment of $46 million ($35 million after-tax) related to equity method investments that is reflected in unrealized investment gains (losses) for the three and six-month periods ended June 30, 2023.