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Other (Income) Expense
 12 Months Ended
Dec. 31, 2019
Other Income and Expenses [Abstract]  
Other (Income) Expense Other (Income) Expense
(In millions)
2019
 
2018
 
2017
Gain on TireHub transaction, net of transaction costs
$
—

 
$
(272
)
 
$
—

Non-service related pension and other postretirement benefits costs
118

 
121

 
62

Interest income on indirect tax settlements in Brazil
(8
)
 
(38
)
 
—

Financing fees and financial instruments expense
34

 
36

 
55

Net foreign currency exchange (gains) losses
(22
)
 
(16
)
 
(7
)
General and product liability expense - discontinued products
11

 
9

 
—

Royalty income
(19
)
 
(20
)
 
(32
)
Net (gains) losses on asset sales
(16
)
 
(1
)
 
(14
)
Interest income
(18
)
 
(16
)
 
(13
)
Miscellaneous expense
18

 
23

 
19

 
$
98

 
$
(174
)

$
70


Gain on TireHub transaction represents the difference between the fair value of the equity interest received and the net book value of the assets and liabilities contributed in connection with the formation of TireHub, LLC ("TireHub"), a distribution joint venture in the United States, net of transaction costs. For the year ended December 31, 2018, we recognized a gain of $286 million and incurred transaction costs of $14 million.
Non-service related pension and other postretirement benefits cost consists primarily of the interest cost, expected return on plan assets and amortization components of net periodic cost, as well as curtailments and settlements which are not related to rationalization plans. For further information, refer to Note to the Consolidated Financial Statements No. 17, Pension, Other Postretirement Benefits and Savings Plans, in this Form 10-K.
We previously filed claims with the Brazilian tax authorities challenging the legality of the calculation of certain indirect taxes for the years 2001 through 2018. During 2018, we received favorable rulings related to these claims. As a result of the rulings, we recorded a gain of $53 million in CGS and related interest income of $38 million in Other (Income) Expense for the year ended December 31, 2018. During 2019, there were additional favorable rulings related to these claims. As a result, we recorded an additional gain of $11 million in CGS and related interest income of $8 million in Other (Income) Expense.
Financing fees and financial instruments expense consists of commitment fees and charges incurred in connection with financing transactions. Financing fees and financial instruments expense in 2017 included a premium of $25 million related to the redemption of our $700 million 7% senior notes due 2022 in May 2017.
Miscellaneous expense for the year ended December 31, 2019 includes expenses of $25 million incurred by the Company as a direct result of flooding at our Beaumont, Texas chemical facility during the third quarter of 2019. Miscellaneous expense in 2018 and 2017 includes $12 million and $14 million, respectively, related to expenses incurred by the Company as a direct result of hurricanes Harvey and Irma during 2017.
Other (Income) Expense also includes net foreign currency exchange (gains) and losses; general and product liability expense - discontinued products, which consists of charges for claims against us related primarily to asbestos personal injury claims, net of probable insurance recoveries; royalty income which is derived primarily from licensing arrangements; net (gains) and losses on asset sales; and interest income.