OTHER INCOME (EXPENSE), NET (Tables)

6 Months Ended

Jun. 30, 2024

Other Income and Expenses [Abstract]

Components of other income (expense), net

The components of other income (expense), net for the three and six months ended June 30, 2024 and 2023 were as follows (in millions):

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Foreign currency transaction gains (losses) (1)	$	25	$	(48)	$	161	$	(101)
Net gains (losses) on equity securities (2)	11		(34)		(5)		(167)
Other	1		2		3		7
Other income (expense), net	$	37	$	(80)	$	159	$	(261)

(1)    Foreign currency transaction gains (losses) include gains of $68 million and $235 million for the three and six months ended June 30, 2024, respectively, and losses of $8 million and $34 million for the three and six months ended June 30, 2023, respectively, related to Euro-denominated debt and accrued interest that were not designated as net investment hedges (see Note 9).

(2)    See Note 5 for additional information related to net gains (losses) on equity securities.