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OTHER INCOME (EXPENSE), NET
 12 Months Ended
Dec. 31, 2021
Other Income and Expenses [Abstract]  
OTHER INCOME (EXPENSE), NET OTHER INCOME (EXPENSE), NET
Other, net, which is included in other income (expense), net, was as follows, in millions:
Year Ended December 31,
 202120202019
Net periodic pension and post-retirement benefit expense (A)
$(430)$(35)$(21)
Loss on sale of business(18)— — 
Contingent consideration (B)
(16)— — 
Gain on preferred stock redemption14 — — 
Equity investment income, net11 3 1 
Dividend income6 10 — 
Foreign currency transaction (losses) gains (C)
(4)(10)2 
Income from cash and cash investments1 3 3 
Other items, net (D)
(3)9 — 
Total other, net$(439)$(20)$(15)
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(A)In the second quarter of 2021, we settled our qualified domestic defined-benefit pension plans and recognized $406 million of additional pension expense. In the fourth quarter of 2021, we recognized a $7 million reduction in pension expense related to the reversion of excess pension plan assets for the settlement of such plans. Refer to Note N for additional information.
(B)In 2021, we recognized $16 million of expense from the revaluation of contingent consideration related to a prior acquisition. Refer to Note I for additional information.
(C)Included in foreign currency transaction (losses) gains for 2020 was a $9 million deferred currency translation loss reclassified from accumulated other comprehensive income (loss) in conjunction with the liquidation of certain UK dormant entities upon receiving final regulatory approval in 2020.
(D)Included in other items, net for 2020 was $9 million of miscellaneous income related to an escrow settlement.