Other Income, Net

12 Months Ended

Dec. 31, 2023

Other Income and Expenses [Abstract]

OTHER INCOME, NET

OTHER INCOME/(LOSS)

Other income/(loss) consists of various line items that are combined on the income statements due to their respective materiality compared with other individual income and expense items.

The amounts included in Other income/(loss), net for the years ended December 31 were as follows (in millions):

	2021		2022		2023
Gains/(Losses) on derivatives	$	(437)	$	(393)	$	177
Currency revaluation gains/(losses)	298		419		(216)
Interest and investment income (a) (b)	32		123		545
Gains/(Losses) on changes in investments in affiliates (c)	16		(231)		—
Other (a)	13		41		8
Total other income/(loss), net	$	(78)	$	(41)	$	514

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(a)Includes interest income, primarily on notes receivable, from affiliated companies of $10 million, $2 million, and $2 million for the years ended December 31, 2021, 2022, and 2023, respectively.

(b)Includes a $20 million unrealized gain for an observable price event on a non-consolidated investment for the year ended December 31, 2022, as well as impairment losses of non-consolidated investments of $9 million in the second quarter of 2023.

(c)Includes 2022 losses related to our restructuring in South America described in Note 12.