Other (Income) Expense

6 Months Ended

Jun. 30, 2020

Other Income And Expenses [Abstract]

Other (Income) Expense

NOTE 4. OTHER (INCOME) EXPENSE

	Three Months Ended						Six Months Ended
	June 30,						June 30,
(In millions)	2020			2019			2020			2019
Non-service related pension and other postretirement benefits cost	$	25		$	27		$	51		$	57
Financing fees and financial instruments expense		5			10			12			18
Net foreign currency exchange (gains) losses		4			(11	)		3			(18	)
General and product liability expense - discontinued products		2			2			4			8
Royalty income		(4	)		(5	)		(9	)		(10	)
Net (gains) losses on asset sales		3			(1	)		2			(6	)
Interest income		(3	)		(4	)		(6	)		(7	)
Miscellaneous (income) expense		2			(1	)		4			(3	)
	$	34		$	17		$	61		$	39

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. 12, Pension, Savings and Other Postretirement Benefit Plans.

Other (Income) Expense also includes financing fees and financial instruments expense which consists of commitment fees and charges incurred in connection with financing transactions; 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.