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Other (Income) Expense
 6 Months Ended
Jun. 30, 2025
Other Income and Expenses [Abstract]  
Other (Income) Expense OTHER (INCOME) EXPENSE
Three Months Ended
June 30,		Six Months Ended
June 30,
(In millions)2025202420252024
Non-service related pension and other postretirement benefits cost
$23 $27 $49 $50 
Financing fees and financial instruments expense
16 16 31 31 
Net foreign currency exchange (gains) losses10 (2)6 4 
Interest income
(8)(12)(18)(27)
General and product liability expense - discontinued products
1 2 3 4 
Royalty and other (income)
(15)(6)(26)(11)
Miscellaneous expense
4 1 11 8 
$31 $26 $56 $59 
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. Pension expense for the six months ended June 30, 2025 includes a pension settlement charge of $4 million resulting from total lump sum payments exceeding annual service and interest cost of the applicable plan. Pension expense for the six months ended June 30, 2024 includes a pension settlement credit of $5 million related to a premium refund on the purchase of a group annuity contract for the Cooper Tire U.S. salaried defined benefit pension plan in 2023. For further information, refer to Note to the Consolidated Financial Statements No. 11, Pension, Savings and Other Postretirement Benefit Plans.
Net foreign currency exchange (gains) losses for the three and six months ended June 30, 2025 includes an $11 million loss and a $13 million loss, respectively, related to the Turkish lira and a $2 million loss and a $4 million gain, respectively, related to the euro. Net foreign currency exchange (gains) losses for the three months ended June 30, 2024 includes a $1 million loss related to the Turkish lira and a $2 million gain related to the euro. Net foreign currency exchange (gains) losses for the six months ended June 30, 2024 includes a $4 million loss related to the Turkish lira.
Royalty and other income for the three and six months ended June 30, 2025 includes $8 million and $14 million, respectively, primarily related to royalty income, and $7 million and $12 million, respectively, related to OTR transition license agreement royalty income and transition services income related to the sales of the OTR tire business and the Dunlop brand. Royalty and other income for the three and six months ended June 30, 2024 is primarily related to royalty income.
Miscellaneous expense for the three and six months ended June 30, 2025 includes transaction costs of $2 million and $6 million, respectively, primarily related to the sale of the Chemical Business. Miscellaneous expense for the six months ended June 30, 2024 includes an $8 million loss related to the sale of receivables in Argentina.
Other (Income) Expense also includes financing fees and financial instruments expense, which consists of commitment fees and charges incurred in connection with financing transactions; interest income; and 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.