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 December 31, |
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Six Months Ended December 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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$ |
600 |
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|
$ |
734 |
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|
$ |
1,281 |
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|
$ |
1,900 |
|
Interest expense |
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|
(594 |
) |
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|
(909 |
) |
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|
(1,176 |
) |
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|
(1,434 |
) |
Net recognized gains (losses) on investments |
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|
(860 |
) |
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|
69 |
|
|
|
(397 |
) |
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|
(38 |
) |
Net losses on derivatives |
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|
(116 |
) |
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|
(267 |
) |
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|
(454 |
) |
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|
(174 |
) |
Net gains (losses) on foreign currency remeasurements |
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|
(153 |
) |
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|
36 |
|
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|
23 |
|
|
|
(65 |
) |
Other, net |
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|
(1,165 |
) |
|
|
(169 |
) |
|
|
(1,848 |
) |
|
|
(306 |
) |
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Total |
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$ |
(2,288 |
) |
|
$ |
(506 |
) |
|
$ |
(2,571 |
) |
|
$ |
(117 |
) |
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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 December 31, |
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Six Months Ended December 31, |
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|
2024 |
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|
2023 |
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|
2024 |
|
|
2023 |
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Realized gains from sales of available-for-sale securities |
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$ |
9 |
|
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$ |
4 |
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$ |
17 |
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|
$ |
6 |
|
Realized losses from sales of available-for-sale securities |
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|
(19 |
) |
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|
(29 |
) |
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|
(34 |
) |
|
|
(54 |
) |
Impairments and allowance for credit losses |
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|
(14 |
) |
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|
18 |
|
|
|
(2 |
) |
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|
12 |
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Total |
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$ |
(24 |
) |
|
$ |
(7 |
) |
|
$ |
(19 |
) |
|
$ |
(36 |
) |
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|
Net recognized gains (losses) on equity investments were as follows:
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(In millions) |
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Three Months Ended December 31, |
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|
Six Months Ended December 31, |
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|
|
|
|
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
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|
|
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|
Net realized gains (losses) on investments sold |
|
$ |
(8 |
) |
|
$ |
(31 |
) |
|
$ |
57 |
|
|
$ |
14 |
|
Net unrealized gains on investments still held |
|
|
25 |
|
|
|
286 |
|
|
|
437 |
|
|
|
163 |
|
Impairments of investments |
|
|
(853 |
) |
|
|
(179 |
) |
|
|
(872 |
) |
|
|
(179 |
) |
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Total |
|
$ |
(836 |
) |
|
$ |
76 |
|
|
$ |
(378 |
) |
|
$ |
(2 |
) |
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