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) |
|
Three Months Ended December 31, |
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|
Six Months Ended December 31, |
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2020 |
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2019 |
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2020 |
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2019 |
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Interest and dividends income |
|
$ |
545 |
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$ |
688 |
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$ |
1,115 |
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$ |
1,412 |
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Interest expense |
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(571 |
) |
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(654 |
) |
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(1,160 |
) |
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(1,291 |
) |
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Net recognized gains on investments |
|
|
359 |
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|
162 |
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|
484 |
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|
105 |
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Net gains (losses) on derivatives |
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(5 |
) |
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|
41 |
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(2 |
) |
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|
87 |
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Net gains (losses) on foreign currency remeasurements |
|
|
42 |
|
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|
(24 |
) |
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|
181 |
|
|
|
(82 |
) |
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Other, net |
|
|
70 |
|
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|
(19 |
) |
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|
70 |
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|
(37 |
) |
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Total |
|
$ |
440 |
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|
$ |
194 |
|
|
$ |
688 |
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$ |
194 |
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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, |
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|
Six Months Ended December 31, |
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2020 |
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2019 |
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2020 |
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2019 |
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Realized gains from sales of available-for-sale securities |
|
$ |
32 |
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$ |
14 |
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$ |
51 |
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$ |
21 |
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Realized losses from sales of available-for-sale securities |
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|
(13 |
) |
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(6 |
) |
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(18 |
) |
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(10 |
) |
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Impairments and allowance for credit losses |
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|
0 |
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(1 |
) |
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3 |
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(5 |
) |
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Total |
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$ |
19 |
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$ |
7 |
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$ |
36 |
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$ |
6 |
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Net recognized gains (losses) on equity investments were as follows:
|
(In millions) |
|
Three Months Ended December 31, |
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|
Six Months Ended December 31, |
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2020 |
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2019 |
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|
2020 |
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2019 |
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Net realized gains on investments sold |
|
$ |
16 |
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$ |
53 |
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$ |
33 |
|
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$ |
75 |
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Net unrealized gains on investments still held |
|
|
326 |
|
|
|
111 |
|
|
|
426 |
|
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|
55 |
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Impairments of investments |
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|
(2 |
) |
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|
(9 |
) |
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|
(11 |
) |
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|
(31 |
) |
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Total |
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$ |
340 |
|
|
$ |
155 |
|
|
$ |
448 |
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$ |
99 |
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