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, |
|
2021 |
|
|
2020 |
|
||
|
|
|
|
|
|
|
|
|
|
|
Interest and dividends income |
|
$ |
520 |
|
|
$ |
570 |
|
|
Interest expense |
|
|
(539 |
) |
|
|
(589 |
) |
|
Net recognized gains on investments |
|
|
371 |
|
|
|
125 |
|
|
Net gains (losses) on derivatives |
|
|
(7 |
) |
|
|
3 |
|
|
Net gains (losses) on foreign currency remeasurements |
|
|
(65 |
) |
|
|
139 |
|
|
Other, net |
|
|
6 |
|
|
|
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
$ |
286 |
|
|
$ |
248 |
|
|
|
|
|
|
|
|
|
|
|
Net Recognized Gains (Losses) on Investments
Net recognized gains (losses) on debt investments were as follows:
|
(In millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
2021 |
|
|
2020 |
|
||
|
|
|
|
|
|
|
|
|
|
|
Realized gains from sales of available-for-sale securities |
|
$ |
19 |
|
|
$ |
19 |
|
|
Realized losses from sales of available-for-sale securities |
|
|
(7 |
) |
|
|
(5 |
) |
|
Impairments and allowance for credit losses |
|
|
(3 |
) |
|
|
3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
$ |
9 |
|
|
$ |
17 |
|
|
|
|
|
|
|
|
|
|
|
Net recognized gains (losses) on equity investments were as follows:
|
(In millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
2021 |
|
|
2020 |
|
||
|
|
|
|
|
|
|
|
|
|
|
Net realized gains on investments sold |
|
$ |
37 |
|
|
$ |
17 |
|
|
Net unrealized gains on investments still held |
|
|
325 |
|
|
|
100 |
|
|
Impairments of investments |
|
|
0 |
|
|
|
(9 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
$ |
362 |
|
|
$ |
108 |
|
|
|
|
|
|
|
|
|
|
|
