Other (Income) and Expense (Tables)

3 Months Ended

Mar. 31, 2024

Other Income and Expenses [Abstract]

Schedule of components of other income and expense

Components of other (income) and expense are as follows:

(Dollars in millions)
For the three months ended March 31:	2024		2023
Other (income) and expense:
Foreign currency transaction losses/(gains) (1)	$	(205)	$	88
(Gains)/losses on derivative instruments (1)	287		(142)
Interest income	(210)		(170)
Net (gains)/losses from securities and investment assets	(10)		5
Retirement-related costs/(income)	96		(5)
Other (2)	(274)		(22)
Total other (income) and expense	$	(317)	$	(245)

(1)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.

(2)2024 includes a pre-tax gain of $241 million from the divestiture of The Weather Company assets. Refer to note 5, "Acquisitions & Divestitures," for additional information.