Other (Income)/Deductions - Net (Tables)

9 Months Ended

Sep. 30, 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				Nine Months Ended
	September 30,				September 30,
(MILLIONS OF DOLLARS)	2024		2023		2024		2023
Royalty-related income(a)	$	(2)	$	(1)	$	(5)	$	(36)
Interest income	(23)		(23)		(79)		(79)
Identifiable intangible asset impairment charges(b)	—		6		11		17
Loss on assets held for sale(c)	—		—		22		—
Other asset impairment charges	—		1		—		1
Net gain on sale of business(d)	—		—		—		(101)
Foreign currency loss(e)	5		19		42		41
Other, net	4		4		10		6
Other (income)/deductions—net	$	(16)	$	6	$	1	$	(151)

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

(b)    For the nine months ended September 30, 2024, represents asset impairment charges related to our aquaculture business.

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

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

(c)    Represents a loss on assets held for sale related to the planned sale of our medicated feed additive product portfolio, certain water soluble products and related assets. For additional information, see Note 5. Acquisitions and Divestitures.

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

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