Other Income, Net

6 Months Ended

Jun. 30, 2023

Income Statement [Abstract]

Other Income, Net

13. OTHER INCOME, NET

Components of other income, net are as follows:

	Three Months Ended June 30,					Six Months Ended June 30,
(millions)	2023			2022		2023			2022
Other income	$	1		$	1	$	3		$	3
Other expense		(5	)		—		(7	)		1
Gains on sales of assets(1)		22			17		32			17
Allowance for equity funds used during construction		—			2		—			3
Other income, net	$	18		$	20	$	28		$	24

(1) Includes amounts recognized in connection with the transfer of property to satisfy litigation. See Note 10 for additional information.

In the second quarter of 2023, DESC completed the sale of certain utility property in South Carolina, as approved by the South Carolina Commission in February 2023, for total cash consideration of $11 million. In connection with the sale, DESC recognized a gain of $11 million ($8 million after-tax) for the three and six months ended June 30, 2023.

In June 2022, DESC completed the sale of certain utility property in South Carolina, as approved by the South Carolina Commission in May 2022, for total cash consideration of $16 million. In connection with the sale, DESC recognized a gain of $16 million ($12 million after-tax) for the three and six months ended June 30, 2022.