Other (Income) Expense, Net

12 Months Ended

Dec. 31, 2022

Other Income and Expenses [Abstract]

Other (income) expense, net, consisted of:


Years Ended December 31	2022		2021		2020
Interest income	$	(157)	$	(36)	$	(59)
Interest expense	962		806		831
Exchange losses	237		297		145
Loss (income) from investments in equity securities, net (1)	1,419		(1,940)		(1,338)
Net periodic defined benefit plan (credit) cost other than service cost	(279)		(212)		(339)
Other, net	(681)		(256)		(130)
	$	1,501	$	(1,341)	$	(890)

(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 gains and losses from ownership interests in investment funds are accounted for on a one quarter lag. The Company estimates gains of approximately $140 million will be recorded in the first quarter of 2023 from ownership interests in investment funds.

Interest paid was $937 million in 2022, $779 million in 2021 and $822 million in 2020.