OTHER (INCOME)/EXPENSE

12 Months Ended

Dec. 31, 2015

Other Nonoperating Income (Expense) [Abstract]

Other Income and Other Expense Disclosure [Text Block]

OTHER (INCOME)/EXPENSE

Other (income)/expense includes:

	Year Ended December 31,
Dollars in Millions	2015			2014			2013
Interest expense	$	184		$	203		$	199
Investment income	(101		)	(101		)	(104		)
Provision for restructuring	118			163			226
Litigation and other settlements	159			23			20
Equity in net income of affiliates	(83		)	(107		)	(166		)
Out-licensed intangible asset impairment	13			29			—
Gain on sale of businesses, product lines and assets	(196		)	(564		)	(2		)
Other alliance and licensing income	(628		)	(404		)	(148		)
Pension charges	160			877			165
Loss on debt redemption	180			45			—
Other	7			46			15
Other (income)/expense	$	(187	)	$	210		$	205

• Litigation and other settlements includes $90 million for a contractual dispute related to a license.

• Other includes an unrealized foreign exchange loss of $52 million resulting from the remeasurement of the Bolivar-denominated cash and other monetary balances of BMS’s wholly-owned subsidiary in Venezuela as of December 31, 2015. The exchange rate was changed to the SIMADI rate of 200 from the official CENCOEX rate of 6.3 after considering the limited amount of foreign currency exchanged during the second half of 2015, published exchange rates and the continuing deterioration of economic conditions in Venezuela.