Other Income, Net (Tables)

12 Months Ended

Dec. 31, 2024

Other Income and Expenses [Abstract]

The following table sets forth the components of the Company’s other income, net for the years ended December 31, 2024, 2023 and 2022.


	Year Ended December 31,
	2024			2023			2022
Leasing, contract services, and miscellaneous income (1)	$	5		$	11		$	53
Royalty income (2)		6			8			6
Gain on sales of assets and businesses, net (3)		3			110			21
Exchange losses, net (4)		(9	)		(38	)		(15	)
Non-operating pension and other post-retirement employee benefit income (5)		3			—			5
Total other income, net	$	8		$	91		$	70

(1)

For the year ended December 31, 2022, miscellaneous income includes proceeds from a settlement of a patent infringement matter relating to certain copolymer patents associated with the Company’s Advanced Performance Materials segment.

(2)

Royalty income is primarily from technology licensing.

(3)

For the year ended December 31, 2023, gain on sale of assets and businesses, net includes pre-tax gain on sale of $106 related to the Glycolic Acid Transaction. For the year ended December 31, 2022, gain on sale of assets and businesses, net includes pre-tax gain on sale of $5 to the Beaumont Transaction and $18 related to the Pascagoula Transaction. Refer to "Note 4 – Acquisitions and Divestitures" for further details.

(4)

Exchange (losses), net includes gains and losses on the Company’s foreign currency forward contracts that have not been designated as a cash flow hedge.

(5)

Non-operating pension and other post-retirement employee benefit income represents the non-service cost component of net periodic pension income.