Notes to Financial Statements
NOTE 3 — OTHER INCOME (EXPENSE), NET
The components of other income (expense), net were as follows:
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(In millions) |
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Three Months Ended March 31, |
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Nine Months Ended March 31, |
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2019 |
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2018 |
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2019 |
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2018 |
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Interest and dividends income |
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$ |
668 |
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$ |
575 |
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$ |
2,053 |
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$ |
1,578 |
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Interest expense |
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(671 |
) |
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(691 |
) |
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(2,017 |
) |
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(2,061 |
) |
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Net recognized gains on investments |
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44 |
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|
510 |
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|
381 |
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1,851 |
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Net gains (losses) on derivatives |
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51 |
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(72 |
) |
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89 |
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(206 |
) |
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Net gains (losses) on foreign currency remeasurements |
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|
37 |
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20 |
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(32 |
) |
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(49 |
) |
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Other, net |
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16 |
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|
7 |
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|
64 |
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2 |
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Total |
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$ |
145 |
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$ |
349 |
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$ |
538 |
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$ |
1,115 |
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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 March 31, |
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Nine Months Ended March 31, |
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2019 |
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2018 |
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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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$ |
6 |
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$ |
4 |
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$ |
19 |
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$ |
22 |
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Realized losses from sales of available-for-sale securities |
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(10 |
) |
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(334 |
) |
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(100 |
) |
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(673 |
) |
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Other-than-temporary impairments of investments |
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0 |
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(1 |
) |
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(7 |
) |
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(6 |
) |
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Total |
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$ |
(4 |
) |
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$ |
(331 |
) |
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$ |
(88 |
) |
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$ |
(657 |
) |
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Net recognized gains (losses) on equity investments were as follows:
|
(In millions) |
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Three Months Ended March 31, |
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|
Nine Months Ended March 31, |
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2019 |
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2018 |
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2019 |
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2018 |
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Net realized gains on investments sold |
|
$ |
5 |
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$ |
857 |
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$ |
238 |
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$ |
2,549 |
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Net unrealized gains on investments still held |
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|
50 |
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|
0 |
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|
241 |
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|
0 |
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Impairments of investments |
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|
(7 |
) |
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|
(16 |
) |
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(10 |
) |
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(41 |
) |
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Total |
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$ |
48 |
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$ |
841 |
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$ |
469 |
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$ |
2,508 |
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