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Other (Income) Expense
 3 Months Ended
Mar. 31, 2017
Other Income and Expenses [Abstract]  
OTHER (INCOME) EXPENSE
OTHER (INCOME) EXPENSE
 
Three Months Ended
 
 
March 31,
 
(In millions)
2017
 
2016
 
Financing fees and financial instruments
$
8

 
$
16

 
Royalty income
(5
)
 
(4
)
 
Interest income
(4
)
 
(4
)
 
General and product liability expense (income) - discontinued products
2

 
(2
)
 
Net foreign currency exchange (gains) losses
(1
)
 
(2
)
 
Net (gains) losses on asset sales
(1
)
 
(1
)
 
Miscellaneous expenses
1

 
3

 
 
$
—

 
$
6

 

Other (Income) Expense includes financing fees and financial instruments expense which consists of commitment fees and charges incurred in connection with financing transactions, royalty income which is derived primarily from licensing arrangements related to divested businesses as well as other licensing arrangements, interest income which primarily consists of amounts earned on cash deposits, general and product liability expense (income) - discontinued products which consists of charges for claims against us related primarily to asbestos personal injury claims, net of probable insurance recoveries, net foreign currency exchange (gains) and losses, and net (gains) and losses on asset sales.