OTHER INCOME (EXPENSE), NET (Tables)

12 Months Ended

Dec. 31, 2023

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:

	Year Ended December 31,
	2023		2022		2021
Income from cash and cash investments	$	9	$	2	$	1
Net periodic pension and post-retirement benefit expense (A)	(8)		(10)		(430)
Equity investment (loss) income, net	(1)		(6)		11
Foreign currency transaction losses	(1)		(3)		(4)
Realized gains from private equity funds	1		—		—
Contingent consideration (B)	—		24		(16)
Loss on sale of businesses, net	—		(1)		(18)
Gain on preferred stock redemption (C)	—		—		14
Dividend income	—		—		6
Other items, net	(4)		(2)		(3)
Total other, net	$	(4)	$	4	$	(439)

(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 M for additional information.

(B)We recognized $24 million of income in 2022 and $16 million of expense in 2021 from the revaluation of contingent consideration related to our acquisition of Kraus USA Inc. in the fourth quarter of 2020.

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