Other Expense, net

12 Months Ended

Dec. 31, 2019

Other Expense, net

Other Expense, net

17. Other Expense, net

Other expense, net for the years ended December 31, 2019, 2018, and 2017 included the following:

	2019		2018		2017
Impairment of goodwill (see Note 6)	$	595	$	—	$	—
Restructuring, asset impairment and other charges		89		97		77
Charge for asbestos-related costs		35		125
Pension settlement charges		26		74		218
Charge for other asset impairments		22
Intangible amortization expense		41		40		41
Strategic transaction and corporate modernization costs		31
Gain on sale of equity investment		(107)
Royalty income		(12)		(13)		(11)
Foreign currency exchange loss		5		6		5
Non-income tax gain				(19)
Other expense (income, including gains on asset sales), net		4		(41)		(7)
	$	729	$	269	$	323

In 2019, the Company recorded charges of approximately $22 million for asset impairments related to the Company’s operations in Argentina and China, due primarily to macroeconomic conditions in those countries. The Company wrote down the value of these assets to the extent their carrying amounts exceeded fair value. The fair value of the assets was computed based on estimated future cash flows. The Company classified the significant assumptions used to determine the fair value of the impaired assets, which was not material, as Level 3 (third party appraisal) in the fair value hierarchy. The remaining carrying value of the impaired assets was approximately $5 million.

In 2018, other income, net includes a gain realized on a sale of an asset in Europe (approximately $11 million) and gains recorded on insurance proceeds in the Americas (approximately $11 million).