Other (Income)/Deductions - Net (Tables)

9 Months Ended

Sep. 30, 2023

Other Income and Expenses [Abstract]

Components of Other (Income)/Deductions—Net

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

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(MILLIONS OF DOLLARS)	2023		2022		2023		2022
Royalty-related income(a)	$	(1)	$	(1)	$	(36)	$	(3)
Interest income	(23)		(13)		(79)		(20)
Identifiable intangible asset impairment charges(b)	6		1		17		1
Other asset impairment charges	1		—		1		—
Net gain on sale of business(c)	—		—		(101)		—
Foreign currency loss(d)	19		11		41		36
Other, net	4		(1)		6		(8)
Other (income)/deductions—net	$	6	$	(3)	$	(151)	$	6

(a)     For the nine months ended September 30, 2023, predominantly associated with a settlement for underpayment of royalties in prior periods.

(b)     For the three months ended September 30, 2023, primarily represents certain asset impairment charges related to our diagnostics business.

For the nine months ended September 30, 2023, primarily represents certain asset impairment charges related to our precision animal health and diagnostics businesses.

(c)    Primarily relates to the gain on sale of a majority interest in our pet insurance business. For additional information, see Note 5. Acquisitions and Divestitures.