Other Income and Expenses (Notes)

3 Months Ended

Mar. 28, 2020

Other Income and Expenses [Abstract]

Other Financial Data

Other Financial Data

Condensed Consolidated Statements of Income Information

Other expense/(income) consists of the following (in millions):

	For the Three Months Ended
	March 28, 2020		March 30, 2019
Amortization of prior service costs/(credits)	$	(31)	$	(77)
Net pension and postretirement non-service cost/(benefit)(a)	(43)		(43)
Loss/(gain) on sale of business	2		(246)
Interest income	(9)		(6)
Foreign exchange loss/(gain)	(17)		4
Other miscellaneous expense/(income)	17		(12)
Other expense/(income)	$	(81)	$	(380)

(a) Excludes amortization of prior service costs/(credits).

We present all non-service cost components of net pension cost/(benefit) and net postretirement cost/(benefit) within other expense/(income) on our condensed consolidated statements of income. See Note 11, Postemployment Benefits, for additional information on these components as well as information on our prior service credit amortization. See Note 4, Acquisitions and Divestitures, for additional information related to our loss/(gain) on sale of business. See Note 14, Venezuela - Foreign Currency and Inflation, for information related to our nonmonetary currency devaluation losses. See Note 12, Financial Instruments, for information related to our derivative impacts.

Other expense/(income) was $81 million of income for the three months ended March 28, 2020 compared to $380 million of income for the three months ended March 30, 2019. This decrease was primarily driven by a $2 million net loss on sales of businesses in 2020 compared to a $246 million gain on the Heinz India Transaction in 2019 and a $46 million decrease in amortization of prior service credits as compared to the prior year period.