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, |
|
2020 |
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|
2019 |
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Interest and dividends income |
|
$ |
570 |
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|
$ |
724 |
|
|
Interest expense |
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|
(589 |
) |
|
|
(637 |
) |
|
Net recognized gains (losses) on investments |
|
|
125 |
|
|
|
(57 |
) |
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Net gains on derivatives |
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|
3 |
|
|
|
46 |
|
|
Net gains (losses) on foreign currency remeasurements |
|
|
139 |
|
|
|
(58 |
) |
|
Other, net |
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|
0 |
|
|
|
(18 |
) |
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Total |
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$ |
248 |
|
|
$ |
0 |
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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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Three Months Ended September 30, |
|
2020 |
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|
2019 |
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Realized gains from sales of available-for-sale securities |
|
$ |
19 |
|
|
$ |
7 |
|
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Realized losses from sales of available-for-sale securities |
|
|
(5 |
) |
|
|
(4 |
) |
|
Impairments and allowance for credit losses |
|
|
3 |
|
|
|
(4 |
) |
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|
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|
|
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|
|
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|
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|
|
|
|
|
|
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Total |
|
$ |
17 |
|
|
$ |
(1 |
) |
|
|
|
|
|
|
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Net recognized gains (losses) on equity investments were as follows:
|
(In millions) |
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|
|
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|
Three Months Ended September 30, |
|
|
2020 |
|
|
|
2019 |
|
|
|
|
|
|
|
|
|
|
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|
Net realized gains on investments sold |
|
$ |
17 |
|
|
$ |
22 |
|
|
Net unrealized gains (losses) on investments still held |
|
|
100 |
|
|
|
(56 |
) |
|
Impairments of investments |
|
|
(9 |
) |
|
|
(22 |
) |
|
|
|
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|
|
|
|
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|
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Total |
|
$ |
108 |
|
|
$ |
(56 |
) |
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