Other (Income) and Expense (Tables)

6 Months Ended

Jun. 30, 2024

Other Income and Expenses [Abstract]

Schedule of components of 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)	2024		2023		2024		2023
Other (income) and expense:
Foreign currency transaction losses/(gains) (1)	$	(140)	$	(166)	$	(345)	$	(78)
(Gains)/losses on derivative instruments (1)	140		141		427		(1)
Interest income	(217)		(201)		(427)		(371)
Net (gains)/losses from securities and investment assets	0		3		(10)		8
Retirement-related costs/(income)	98		1		194		(4)
Other (2)	(114)		(39)		(389)		(61)
Total other (income) and expense	$	(233)	$	(261)	$	(550)	$	(506)

(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)For the six months ended June 30, 2024, the company recognized a pre-tax gain of $239 million from the divestiture of The Weather Company assets. Refer to note 5, "Acquisitions & Divestitures," for additional information.