Notes to Financial Statements
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, |
|
2022 |
|
|
2021 |
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
Interest and dividends income |
|
$ |
641 |
|
|
$ |
520 |
|
|
|
Interest expense |
|
|
(500 |
) |
|
|
(539 |
) |
|
|
Net recognized gains on investments |
|
|
13 |
|
|
|
371 |
|
|
|
Net gains (losses) on derivatives |
|
|
9 |
|
|
|
(7 |
) |
|
|
Net losses on foreign currency remeasurements |
|
|
(78 |
) |
|
|
(65 |
) |
|
|
Other, net |
|
|
(31 |
) |
|
|
6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
$ |
54 |
|
|
$ |
286 |
|
|
|
|
|
|
|
|
|
|
|
|
|
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, |
|
2022 |
|
|
2021 |
|
||
|
|
|
|
|
|
|
|
|
|
|
Realized gains from sales of available-for-sale securities |
|
$ |
3 |
|
|
$ |
19 |
|
|
Realized losses from sales of available-for-sale securities |
|
|
(20 |
) |
|
|
(7 |
) |
|
Impairments and allowance for credit losses |
|
|
(18 |
) |
|
|
(3 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
$ |
(35 |
) |
|
$ |
9 |
|
|
|
|
|
|
|
|
|
|
|
Net recognized gains (losses) on equity investments were as follows:
|
(In millions) |
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
2022 |
|
|
2021 |
|
||
|
|
|
|
|
|
|
|
|
|
|
Net realized gains on investments sold |
|
$ |
83 |
|
|
$ |
37 |
|
|
Net unrealized gains (losses) on investments still held |
|
|
(28 |
) |
|
|
325 |
|
|
Impairments of investments |
|
|
(7 |
) |
|
|
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
$ |
48 |
|
|
$ |
362 |
|
|
|
|
|
|
|
|
|
|
|
