Notes to Financial Statements
NOTE 3 — OTHER INCOME (EXPENSE), NET
The components of other income (expense), net were as follows:
|
(In millions) |
|
Three Months Ended December 31, |
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|
Six Months Ended December 31, |
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|
2022 |
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|
2021 |
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|
2022 |
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|
2021 |
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Interest and dividends income |
|
$ |
700 |
|
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$ |
503 |
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|
$ |
1,341 |
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|
$ |
1,023 |
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Interest expense |
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|
(490 |
) |
|
|
(525 |
) |
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|
(990 |
) |
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|
(1,064 |
) |
|
Net recognized gains (losses) on investments |
|
|
(15 |
) |
|
|
300 |
|
|
|
(2 |
) |
|
|
671 |
|
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Net gains (losses) on derivatives |
|
|
(199 |
) |
|
|
7 |
|
|
|
(190 |
) |
|
|
0 |
|
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Net losses on foreign currency remeasurements |
|
|
(18 |
) |
|
|
(13 |
) |
|
|
(96 |
) |
|
|
(78 |
) |
|
Other, net |
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|
(38 |
) |
|
|
(4 |
) |
|
|
(69 |
) |
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|
2 |
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Total |
|
$ |
(60 |
) |
|
$ |
268 |
|
|
$ |
(6 |
) |
|
$ |
554 |
|
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Net Recognized Gains (Losses) on Investments
Net recognized gains (losses) on debt investments were as follows:
|
(In millions) |
|
|
Three Months Ended December 31, |
|
|
|
Six Months Ended December 31, |
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|
2022 |
|
|
2021 |
|
|
2022 |
|
|
2021 |
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Realized gains from sales of available-for-sale securities |
|
$ |
27 |
|
|
$ |
12 |
|
|
$ |
30 |
|
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$ |
31 |
|
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Realized losses from sales of available-for-sale securities |
|
|
(23 |
) |
|
|
(6 |
) |
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|
(43 |
) |
|
|
(13 |
) |
|
Impairments and allowance for credit losses |
|
|
5 |
|
|
|
(5 |
) |
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|
(13 |
) |
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|
(8 |
) |
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Total |
|
$ |
9 |
|
|
$ |
1 |
|
|
$ |
(26 |
) |
|
$ |
10 |
|
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Net recognized gains (losses) on equity investments were as follows:
|
(In millions) |
|
Three Months Ended December 31, |
|
|
Six Months Ended December 31, |
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||||
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|
2022 |
|
|
2021 |
|
|
2022 |
|
|
2021 |
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Net realized gains (losses) on investments sold |
|
$ |
(8 |
) |
|
$ |
31 |
|
|
$ |
75 |
|
|
$ |
68 |
|
|
Net unrealized gains (losses) on investments still held |
|
|
(7 |
) |
|
|
268 |
|
|
|
(35 |
) |
|
|
593 |
|
|
Impairments of investments |
|
|
(9 |
) |
|
|
0 |
|
|
|
(16 |
) |
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|
0 |
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Total |
|
$ |
(24 |
) |
|
$ |
299 |
|
|
$ |
24 |
|
|
$ |
661 |
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