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 March 31, |
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Nine Months Ended March 31, |
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2024 |
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2023 |
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2024 |
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2023 |
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Interest and dividends income |
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$ |
619 |
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$ |
748 |
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$ |
2,519 |
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$ |
2,089 |
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Interest expense |
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|
(800 |
) |
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|
(496 |
) |
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(2,234 |
) |
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(1,486 |
) |
Net recognized gains (losses) on investments |
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|
(25 |
) |
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|
105 |
|
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|
(63 |
) |
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|
103 |
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Net losses on derivatives |
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|
(24 |
) |
|
|
(65 |
) |
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|
(198 |
) |
|
|
(255 |
) |
Net gains (losses) on foreign currency remeasurements |
|
|
(138 |
) |
|
|
122 |
|
|
|
(203 |
) |
|
|
26 |
|
Other, net |
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|
(486 |
) |
|
|
(93 |
) |
|
|
(792 |
) |
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|
(162 |
) |
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Total |
|
$ |
(854 |
) |
|
$ |
321 |
|
|
$ |
(971 |
) |
|
$ |
315 |
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Other, net primarily reflects net recognized losses on equity method investments.
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 March 31, |
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Nine Months Ended March 31, |
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2024 |
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|
2023 |
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|
2024 |
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|
2023 |
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Realized gains from sales of available-for-sale securities |
|
$ |
8 |
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$ |
4 |
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$ |
14 |
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$ |
19 |
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Realized losses from sales of available-for-sale securities |
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|
(24 |
) |
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|
(30 |
) |
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|
(78 |
) |
|
|
(73 |
) |
Impairments and allowance for credit losses |
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|
3 |
|
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0 |
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|
15 |
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(13 |
) |
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Total |
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$ |
(13 |
) |
|
$ |
(26 |
) |
|
$ |
(49 |
) |
|
$ |
(67 |
) |
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Net recognized gains (losses) on equity investments were as follows:
(In millions) |
|
Three Months Ended March 31, |
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Nine Months Ended March 31, |
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|
2024 |
|
|
2023 |
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|
2024 |
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|
2023 |
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Net realized gains (losses) on investments sold |
|
$ |
15 |
|
|
$ |
(13 |
) |
|
$ |
29 |
|
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$ |
77 |
|
Net unrealized gains (losses) on investments still held |
|
|
(7 |
) |
|
|
144 |
|
|
|
156 |
|
|
|
109 |
|
Impairments of investments |
|
|
(20 |
) |
|
|
0 |
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|
|
(199 |
) |
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|
(16 |
) |
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Total |
|
$ |
(12 |
) |
|
$ |
131 |
|
|
$ |
(14 |
) |
|
$ |
170 |
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