Other (Income) Expense - Net

6 Months Ended

Jun. 30, 2022

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,
	2022		2021		2022		2021
	(In millions)
Gains on sales of assets	$	(5)	$	(28)	$	(5)	$	(39)
Pension settlement	—		82		—		82
Other – net	(78)		(5)		(111)		(27)
Other (Income) Expense - Net	$	(83)	$	49	$	(116)	$	16

Gains on sales of assets in the three and six months ended June 30, 2022 and 2021 consisted of gains on disposals of individually insignificant assets in the ordinary course of business.

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, 2022 included the non-service components of net pension benefit income of $6 million and $12 million, respectively, a $50 million one-time payment from the USDA Biofuel Producer Recovery Program, foreign exchange gains, and other expense. 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.