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Other (Income) and Expenses
 6 Months Ended
Jun. 30, 2023
Other Income and Expenses [Abstract]  
Other (Income) and Expenses Other (Income) and Expense:
Components of other (income) and expense are as follows:
Three Months Ended June 30,Six Months Ended June 30,
(Dollars in millions)2023202220232022
Other (income) and expense:
Foreign currency transaction losses/(gains)*$(166)$(494)$(78)$(670)
(Gains)/losses on derivative instruments**141 439 (1)541 
Interest income(201)(28)(371)(46)
Net (gains)/losses from securities and investment assets+
3 54 8 273 
Retirement-related costs/(income)1 192 (4)394 
Other++
(39)(243)(61)(327)
Total other (income) and expense$(261)$(81)$(506)$166 
*    The company uses financial hedging instruments to limit specific currency risks related to foreign currency-based transactions. The hedging program does not hedge 100 percent of currency exposures and defers, versus eliminates, the impact of currency. Refer to note 16, "Derivative Financial Instruments," for additional information on foreign exchange risk.
**Prior year amounts include an unrealized loss on the cash-settled swap related to the Kyndryl retained shares of $88 million recognized in the second quarter of 2022. Refer to note 16, "Derivative Financial Instruments," for additional information.
+Prior year amounts include an unrealized loss on Kyndryl retained shares of $56 million and $278 million for the three and six months ended June 30, 2022, respectively. Refer to note 5, "Acquisitions & Divestitures," for additional information.
++Other primarily consists of (gains)/losses from divestitures and dispositions of land/buildings. Prior year amounts include a pre-tax gain of $232 million recognized in the second quarter of 2022 related to the divestiture of IBM's healthcare software assets.