NOTE 3 — OTHER INCOME (EXPENSE), NET
The components of other income (expense), net were as follows:
(In millions) |
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Three Months Ended September 30, |
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2019 |
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2018 |
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Interest and dividends income |
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$ |
724 |
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$ |
681 |
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Interest expense |
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(637 |
) |
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|
(674 |
) |
Net recognized gains (losses) on investments |
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|
(57 |
) |
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|
243 |
|
Net gains (losses) on derivatives |
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|
46 |
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(3 |
) |
Net gains (losses) on foreign currency remeasurements |
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(58 |
) |
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|
5 |
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Other, net |
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(18 |
) |
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14 |
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Total |
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$ |
0 |
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$ |
266 |
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Net Recognized Gains (Losses) on Investments
Net recognized gains (losses) on debt investments were as follows:
(In millions) |
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Three Months Ended September 30, |
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2019 |
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2018 |
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Realized gains from sales of available-for-sale securities |
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$ |
7 |
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$ |
7 |
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Realized losses from sales of available-for-sale securities |
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|
(4 |
) |
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|
(85 |
) |
Other-than-temporary impairments of investments |
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(4 |
) |
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0 |
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Total |
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$ |
(1 |
) |
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$ |
(78 |
) |
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Net recognized gains (losses) on equity investments were as follows:
(In millions) |
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Three Months Ended September 30, |
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2019 |
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2018 |
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Net realized gains on investments sold |
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$ |
22 |
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$ |
203 |
|
Net unrealized gains on investments still held |
|
|
(56 |
) |
|
|
118 |
|
Impairments of investments |
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|
(22 |
) |
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0 |
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Total |
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$ |
(56 |
) |
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$ |
321 |
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