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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Year Ended June 30, |
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2019 |
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2018 |
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2017 |
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Interest and dividends income |
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$ |
2,762 |
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$ |
2,214 |
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$ |
1,387 |
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Interest expense |
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(2,686 |
) |
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(2,733 |
) |
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(2,222 |
) |
Net recognized gains on investments |
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|
648 |
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|
2,399 |
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|
2,583 |
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Net gains (losses) on derivatives |
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|
144 |
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|
(187 |
) |
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|
(510 |
) |
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Net losses on foreign currency remeasurements |
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|
(82 |
) |
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(218 |
) |
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(111 |
) |
Other, net |
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(57 |
) |
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(59 |
) |
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(251 |
) |
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Total |
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$ |
729 |
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$ |
1,416 |
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$ |
876 |
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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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Year Ended June 30, |
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2019 |
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2018 |
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2017 |
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Realized gains from sales of available-for-sale securities |
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$ |
12 |
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$ |
27 |
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$ |
108 |
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Realized losses from sales of available-for-sale securities |
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|
(93 |
) |
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|
(987 |
) |
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|
(162 |
) |
Other-than-temporary impairments of investments |
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(16 |
) |
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(6 |
) |
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(14 |
) |
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Total |
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$ |
(97 |
) |
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$ |
(966 |
) |
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$ |
(68 |
) |
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Net recognized gains (losses) on equity investments were as follows:
(In millions) |
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Year Ended June 30, |
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2019 |
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2018 |
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2017 |
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Net realized gains on investments sold |
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$ |
276 |
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$ |
3,406 |
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$ |
2,692 |
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Net unrealized gains on investments still held |
|
|
479 |
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0 |
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0 |
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Impairments of investments |
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|
(10 |
) |
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|
(41 |
) |
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|
(41 |
) |
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Total |
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$ |
745 |
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$ |
3,365 |
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$ |
2,651 |
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