NOTE 3 — OTHER INCOME (EXPENSE), NET The components of other income (expense), net were as follows:
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(In millions) |
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Three Months Ended March 31, |
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|
Nine Months Ended March 31, |
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|
2023 |
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|
2022 |
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|
2023 |
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|
2022 |
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Interest and dividends income |
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$ |
748 |
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|
$ |
519 |
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|
$ |
2,089 |
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|
$ |
1,542 |
|
Interest expense |
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|
(496 |
) |
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|
(503 |
) |
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|
(1,486 |
) |
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|
(1,567 |
) |
Net recognized gains (losses) on investments |
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|
105 |
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|
(76 |
) |
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|
103 |
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|
595 |
|
Net losses on derivatives |
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|
(65 |
) |
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|
(29 |
) |
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|
(255 |
) |
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|
(29 |
) |
Net gains (losses) on foreign currency remeasurements |
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|
122 |
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|
(74 |
) |
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|
26 |
|
|
|
(152 |
) |
Other, net |
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|
(93 |
) |
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|
(11 |
) |
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|
(162 |
) |
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|
(9 |
) |
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Total |
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$ |
321 |
|
|
$ |
(174 |
) |
|
$ |
315 |
|
|
$ |
380 |
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Net Recognized Gains (Losses) on Investments Net recognized gains (losses) on debt investments were as follows:
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(In millions) |
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|
Three Months Ended March 31, |
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|
Nine Months Ended March 31, |
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|
2023 |
|
|
2022 |
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|
2023 |
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|
2022 |
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|
Realized gains from sales of available-for-sale securities |
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$ |
4 |
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|
$ |
119 |
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$ |
19 |
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|
$ |
150 |
|
Realized losses from sales of available-for-sale securities |
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|
(30 |
) |
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|
(89 |
) |
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|
(73 |
) |
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|
(102 |
) |
Impairments and allowance for credit losses |
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|
0 |
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|
|
(45 |
) |
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|
(13 |
) |
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|
(53 |
) |
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|
Total |
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$ |
(26 |
) |
|
$ |
(15 |
) |
|
$ |
(67 |
) |
|
$ |
(5 |
) |
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Net recognized gains (losses) on equity investments were as follows:
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(In millions) |
|
Three Months Ended March 31, |
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|
Nine Months Ended March 31, |
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|
|
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|
|
|
|
|
|
|
|
|
|
2023 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
|
|
|
|
|
|
|
|
|
|
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|
Net realized gains (losses) on investments sold |
|
$ |
(13 |
) |
|
$ |
(22 |
) |
|
$ |
77 |
|
|
$ |
46 |
|
Net unrealized gains (losses) on investments still held |
|
|
144 |
|
|
|
(34 |
) |
|
|
109 |
|
|
|
559 |
|
Impairments of investments |
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|
0 |
|
|
|
(5 |
) |
|
|
(16 |
) |
|
|
(5 |
) |
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Total |
|
$ |
131 |
|
|
$ |
(61 |
) |
|
$ |
170 |
|
|
$ |
600 |
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