Other (Income) Expense - Net

6 Months Ended

Jun. 30, 2021

Other Income and Expenses [Abstract]

Other (Income) Expense - Net

Other (Income) Expense - Net

The following table sets forth the items in other (income) expense:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2021		2020		2021		2020
	(In millions)
Gains on sales of assets	$	(28)	$	(53)	$	(39)	$	(45)
Early debt retirement charges	—		14		—		14
Pension settlement	82		—		82		—
Other – net	(5)		(17)		(27)		(49)
Other (Income) Expense - Net	$	49	$	(56)	$	16	$	(80)

Gains on sales of assets in all periods presented consisted of gains on the sale of certain assets and disposals of individually insignificant assets in the ordinary course of business.

Early debt retirement charges in the prior period were related to the make-whole call provision on a bond.

Pension settlement in the three and six months ended June 30, 2021 was related to the purchase of group annuity contracts that irrevocably transferred the future benefit obligations and annuity administration for certain salaried and hourly retirees and terminated vested participants under the Company’s ADM Retirement Plan and ADM Pension Plan for Hourly-Wage Employees to independent third parties.

Other - net in the three and six months ended June 30, 2021 included the non-service components of net pension benefit income of $5 million and $11 million, respectively, foreign exchange gains, and other income and expense. Other - net in the three and six months ended June 30, 2020 included the non-service components of net pension benefit income of $8 million and $21 million, respectively, foreign exchange gains, and other income. Other - net in the six months ended June 30, 2020 also included loss provisions related to the Company’s futures commission and brokerage business.