Other Income (Expense), Net

12 Months Ended

Dec. 31, 2023

17. OTHER INCOME (EXPENSE), NET

Components of other income (expense), net are as follows:


Year Ended December 31,	2023			2022		2021
(millions)
Other income	$	8		$	10	$	11
Gains on sales of assets(1)		32			42		—
Other expense		(16	)		2		(18	)
Allowance for equity funds used during construction		—			1		5
Other income (expense), net	$	24		$	55	$	(2	)

(1)

Includes amounts recognized in connection with the transfer of property, plant and equipment to satisfy litigation. See Note 12 for additional information.

Non-service cost components of pension and other postretirement benefits are included in other expense.

In 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 $12 million. In connection with the sale, DESC recognized a net gain of $11 million ($8 million after-tax), reflected in the Corporate and Other segment, for the year ended December 31, 2023.

In 2022, DESC completed the sales of certain utility property in South Carolina, as approved by the South Carolina Commission, for total cash consideration of $20 million. In connection with the sales, DESC recognized a gain of $20 million ($15 million after-tax) for the year ended December 31, 2022.