Other (Income)/Deductions - Net

3 Months Ended

Mar. 31, 2023

Other Income and Expenses [Abstract]

Other (Income)/Deductions - Net

7. Other (Income)/Deductions—Net

The components of Other (income)/deductions—net are as follows:

	Three Months Ended
	March 31,
(MILLIONS OF DOLLARS)	2023		2022
Royalty-related income(a)	$	(34)	$	(1)
Interest income	(33)		(2)
Foreign currency loss(b)	9		11
Other, net	5		(1)
Other (income)/deductions—net	$	(53)	$	7

(a)     For the three months ended March 31, 2023, predominantly associated with a settlement for underpayment of royalties in prior periods.

(b)     Primarily driven by costs related to hedging and exposures to certain emerging and developed market currencies.