Other (Income) Expense, Net

9 Months Ended

Sep. 30, 2020

Other Income and Expenses [Abstract]

Other (income) expense, net, consisted of:


	Three Months Ended September 30,				Nine Months Ended September 30,
($ in millions)	2020		2019		2020		2019
Interest income	$	(9)	$	(61)	$	(48)	$	(225)
Interest expense	203		231		624		674
Exchange losses	10		38		89		166
Income from investments in equity securities, net (1)	(360)		(16)		(964)		(50)
Net periodic defined benefit plan (credit) cost other than service cost	(88)		(128)		(259)		(409)
Other, net	(68)		(29)		(72)		206
	$	(312)	$	35	$	(630)	$	362

(1) Includes net realized and unrealized gains and losses from investments in equity securities either owned directly or through ownership interests in investment funds. Unrealized gains and losses from investments that are directly owned are determined at the end of the reporting period, while ownership interests in investment funds are accounted for on a one quarter lag.

The decline in interest income in the third quarter and first nine months of 2020 reflects lower investments and lower interest rates. The lower exchange losses in the first nine months of 2020 reflect losses on forward exchange contracts in 2019 related to the acquisition of Antelliq. The increase in income from investments in equity securities, net, in both the third quarter and first nine months of 2020 was driven primarily by the recognition of unrealized gains on certain investments, most of which relate to Moderna, Inc.

Other, net (as reflected in the table above) in the first nine months of 2019 includes $162 million of goodwill impairment charges related to certain businesses in the Healthcare Services segment.

Interest paid for the nine months ended September 30, 2020 and 2019 was $605 million and $629 million, respectively.