NOTE 3 — OTHER INCOME (EXPENSE), NET
The components of other income (expense), net were as follows:
(In millions) |
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|
|
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|
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Year Ended June 30, |
|
2020 |
|
|
2019 |
|
|
2018 |
|
|||
|
|
|
|
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Interest and dividends income |
|
$ |
2,680 |
|
|
$ |
2,762 |
|
|
$ |
2,214 |
|
Interest expense |
|
|
(2,591 |
) |
|
|
(2,686 |
) |
|
|
(2,733 |
) |
Net recognized gains on investments |
|
|
32 |
|
|
|
648 |
|
|
|
2,399 |
|
Net gains (losses) on derivatives |
|
|
187 |
|
|
|
144 |
|
|
|
(187 |
) |
Net losses on foreign currency remeasurements |
|
|
(191 |
) |
|
|
(82 |
) |
|
|
(218 |
) |
Other, net |
|
|
(40 |
) |
|
|
(57 |
) |
|
|
(59 |
) |
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|
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|||
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|||
Total |
|
$ |
77 |
|
|
$ |
729 |
|
|
$ |
1,416 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Recognized Gains (Losses) on Investments
Net recognized gains (losses) on debt investments were as follows:
(In millions) |
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|
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Year Ended June 30, |
|
2020 |
|
|
2019 |
|
|
2018 |
|
|||
|
|
|
|
|||||||||
Realized gains from sales of available-for-sale securities |
|
$ |
50 |
|
|
$ |
12 |
|
|
$ |
27 |
|
Realized losses from sales of available-for-sale securities |
|
|
(37 |
) |
|
|
(93 |
) |
|
|
(987 |
) |
Other-than-temporary impairments of investments |
|
|
(17 |
) |
|
|
(16 |
) |
|
|
(6 |
) |
|
|
|
|
|
|
|
|
|
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|||
|
|
|
|
|
|
|
|
|
|
|||
Total |
|
$ |
(4 |
) |
|
$ |
(97 |
) |
|
$ |
(966 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net recognized gains (losses) on equity investments were as follows:
(In millions) |
|
|
|
|
|
|
|
|
|
|||
|
|
|||||||||||
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|
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|
||||||||
Year Ended June 30, |
|
2020 |
|
|
2019 |
|
|
2018 |
|
|||
|
|
|
|
|||||||||
Net realized gains on investments sold |
|
$ |
83 |
|
|
$ |
276 |
|
|
$ |
3,406 |
|
Net unrealized gains on investments still held |
|
|
69 |
|
|
|
479 |
|
|
|
0 |
|
Impairments of investments |
|
|
(116 |
) |
|
|
(10 |
) |
|
|
(41 |
) |
|
|
|
|
|
|
|
|
|
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|||
|
|
|
|
|
|
|
|
|
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|||
Total |
|
$ |
36 |
|
|
$ |
745 |
|
|
$ |
3,365 |
|
|
|
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|
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|