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 September 30, |
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2024 |
|
|
2023 |
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|
Interest and dividends income |
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$ |
681 |
|
|
$ |
1,166 |
|
Interest expense |
|
|
(582 |
) |
|
|
(525 |
) |
Net recognized gains (losses) on investments |
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|
463 |
|
|
|
(107 |
) |
Net gains (losses) on derivatives |
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|
(338 |
) |
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|
93 |
|
Net gains (losses) on foreign currency remeasurements |
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|
176 |
|
|
|
(101 |
) |
Other, net |
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|
(683 |
) |
|
|
(137 |
) |
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Total |
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$ |
(283 |
) |
|
$ |
389 |
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|
|
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|
Other, net primarily reflects net recognized losses on equity method investments, including OpenAI. 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 September 30, |
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2024 |
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|
2023 |
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|
|
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Realized gains from sales of available-for-sale securities |
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$ |
8 |
|
|
$ |
2 |
|
Realized losses from sales of available-for-sale securities |
|
|
(15 |
) |
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|
(25 |
) |
Impairments and allowance for credit losses |
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|
12 |
|
|
|
(6 |
) |
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|
|
|
|
|
|
|
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|
|
|
|
|
|
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Total |
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$ |
5 |
|
|
$ |
(29 |
) |
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|
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|
Net recognized gains (losses) on equity investments were as follows:
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(In millions) |
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|
|
|
|
|
|
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Three Months Ended September 30, |
|
2024 |
|
|
2023 |
|
|
|
|
|
|
|
|
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|
Net realized gains on investments sold |
|
$ |
65 |
|
|
$ |
45 |
|
Net unrealized gains (losses) on investments still held |
|
|
412 |
|
|
|
(123 |
) |
Impairments of investments |
|
|
(19 |
) |
|
|
0 |
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|
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|
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Total |
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$ |
458 |
|
|
$ |
(78 |
) |
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