Note 16 - Other Income (Expense), Net

3 Months Ended

Mar. 31, 2025

Notes to Financial Statements

Other Income and Other Expense Disclosure [Text Block]

Note 16. Other Income (Expense), Net 

	Three Months Ended
	March 31,
	2025			2024
Non-service cost components of pension and OPEB costs	$	(2	)	$	(4	)
Government assistance		2			1
Foreign exchange gain (loss)		(3	)		1
Strategic transaction expenses		(15	)		(2	)
Gain (loss) on sale of property, plant and equipment		1			(5	)
Other, net		9			11
Other income (expense), net	$	(8	)	$	2

Foreign exchange gains and losses on cross-currency intercompany loan balances that are not of a long-term investment nature are included above. Foreign exchange gains and losses on intercompany loans that are permanently invested are reported in OCI. 

Strategic transaction expenses relate primarily to costs incurred in connection with acquisition and divestiture related activities, including costs to complete the transaction and post-closing integration costs, and other strategic initiatives. Strategic transaction expenses during the three months ended March 31, 2025 were primarily attributable to investigating the potential sale of our Off-Highway business.