Other (Income)/Deductions - Net (Tables)

3 Months Ended

Mar. 31, 2024

Other Income and Expenses [Abstract]

Components of Other (Income)/Deductions—Net

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

	Three Months Ended
	March 31,
(MILLIONS OF DOLLARS)	2024		2023
Royalty-related income(a)	$	(2)	$	(34)
Interest income	(32)		(33)
Foreign currency loss(b)	19		9
Other, net	7		5
Other (income)/deductions—net	$	(8)	$	(53)

(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.