Other Income (Expense), Net (Tables)

6 Months Ended

Jun. 30, 2022

Other Income and Expenses [Abstract]

Schedule of components of other, net, which is included in other income (expense), net

Other, net, which is included in other income (expense), net, was as follows, in millions:

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Contingent consideration (A)	$	28	$	—	$	24	$	—
Foreign currency transaction (losses) gains	(6)		2		(2)		2
Net periodic pension and post-retirement benefit expense (B)	(3)		(415)		(5)		(426)
Loss on sale of businesses, net	(3)		(18)		(1)		(18)
Income from cash and cash investments	1		—		1		—
Gain on preferred stock redemption (C)	—		14		—		14
Dividend income	—		3		—		6
Equity investment income, net	—		—		—		2
Other items, net	—		(1)		(1)		(1)
Total other, net	$	17	$	(415)	$	16	$	(421)

(A)    In the three and six months ended June 30, 2022 we recognized $28 million and $24 million, respectively, of income from the revaluation of contingent consideration related to a prior acquisition. Refer to Note G for additional information.

(B)    In the second quarter of 2021, we settled our qualified domestic defined-benefit pension plans and recognized $406 million of additional pension expense.

(C)    In May 2021, we received, in cash, $166 million for the redemption of the AC Products Holding, Inc. preferred stock, including all accrued but unpaid dividends, and recognized a gain of $14 million.