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