Other (Income)/Deductions - Net Other (Income)/Deductions - Net (Tables)

12 Months Ended

Dec. 31, 2024

Other Income and Expenses [Abstract]

Components of Other (Income)/Deductions—Net

The components of Other (income)/deductions—net follow:

	Year Ended December 31,
(MILLIONS OF DOLLARS)	2024		2023		2022
Royalty-related income(a)	$	(5)	$	(37)	$	(4)
Interest income	(106)		(105)		(50)
Identifiable intangible asset impairment charges(b)	15		35		39
Other asset impairment charges	—		1		7
Net loss/(gain) on sale of businesses(c)	23		(101)		—
Foreign currency loss(d)	50		47		62
Other, net	4		1		(14)
Other (income)/deductions—net	$	(19)	$	(159)	$	40

(a)    For 2023, primarily associated with a settlement received from a third-party for underpayment of royalties related to prior periods.

(b)    For 2024, primarily represents asset impairment charges related to our aquaculture business.

For 2023, primarily represents certain asset impairment charges related to our precision animal health and diagnostics businesses.

For 2022, primarily represents asset impairment charges related to customer relationships and developed technology rights in our diagnostics, poultry, cattle and swine businesses.

(c)    For 2024, primarily represents a net loss related to the sale of our medicated feed additive product portfolio, certain water soluble products and related assets. For additional information, see Note 5. Acquisitions and Divestitures.

    For 2023, 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.

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