OTHER INCOME (EXPENSE), NET (Tables)

9 Months Ended

Sep. 30, 2024

Other Income and Expenses [Abstract]

Components of other income (expense), net

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Foreign currency transaction losses (1)	$	(365)	$	(1)	$	(204)	$	(102)
Net gains (losses) on equity securities (2)	32		16		27		(151)
Other	1		(4)		4		3
Other income (expense), net	$	(332)	$	11	$	(173)	$	(250)

(1)    Foreign currency transaction losses include losses of $343 million and $108 million for the three and nine months ended September 30, 2024, respectively, and gains of $36 million and $2 million for the three and nine months ended September 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.