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Other Income (Expense)
 12 Months Ended
Dec. 31, 2018
Other Income and Expenses [Abstract]  
Other Income (Expense)
Other Income (Expense)

Other income (expense) consisted of the following:

In millions
 
2018
 
2017
 
2016
Interest income
 
$
35

 
$
45

 
$
38

Other net periodic benefit income
 
20

 
9

 
8

Income (loss) from investments
 
9

 
16

 
(13
)
Equity income in Wilsonart
 
—

 
—

 
61

Gain (loss) on disposal of operations and affiliates
 
(2
)
 
1

 
(12
)
Gain (loss) on foreign currency transactions, net
 
(1
)
 
(25
)
 
9

Other, net
 
6

 
(1
)
 
(2
)
Total other income (expense)
 
$
67

 
$
45

 
$
89



In the fourth quarter of 2012, the Company divested a 51% majority interest in its former Decorative Surfaces segment to certain funds managed by Clayton, Dubilier & Rice, LLC ("CD&R"). As a result of the transaction, the Company owns common units (the "Common Units") of Wilsonart International Holdings LLC ("Wilsonart") initially representing approximately 49% (on an as-converted basis) of the total outstanding equity. CD&R owns cumulative convertible participating preferred units (the "Preferred Units") of Wilsonart representing approximately 51% (on an as-converted basis) of the total outstanding equity. The Preferred Units rank senior to the Common Units as to dividends and liquidation preference, and accrue dividends at a rate of 10% per annum. The ownership interest in Wilsonart is reported using the equity method of accounting. The Company's proportionate share in income (loss) of Wilsonart is reported in Other income (expense) in the consolidated statement of income. As the Company's investment in Wilsonart is structured as a partnership for U.S. tax purposes, U.S. taxes are recorded separately from the equity investment. Equity income (loss) in Wilsonart for the year ended December 31, 2016 included a $54 million pre-tax gain resulting from a $167 million cash dividend distribution from Wilsonart which exceeded the Company's equity investment balance. As a result of the dividend distribution, the equity investment balance in Wilsonart was reduced to zero and any subsequent equity investment income will not be recognized until the gain is recaptured.