OTHER INCOME (EXPENSE), NET

3 Months Ended

Mar. 31, 2023

Other Income and Expenses [Abstract]

OTHER INCOME (EXPENSE), NET

I. OTHER INCOME (EXPENSE), NET

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

	Three Months Ended March 31,
	2023		2022
Net periodic pension and post-retirement benefit expense	$	(3)	$	(2)
Foreign currency transaction gains	1		4
Income from cash and cash investments	1		—
Realized gains from private equity funds	1		—
Contingent consideration (A)	—		(4)
Gain on sale of business (B)	—		2
Other items, net	(2)		(1)
Total other, net	$	(2)	$	(1)

(A)In the first quarter of 2022, we recognized $4 million of expense from the revaluation of contingent consideration related to our acquisition of Kraus USA Inc.

(B)In the first quarter of 2022, we recognized a pre-tax post-closing gain related to the finalization of working capital items related to the divestiture of Hüppe GmbH.