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 December 31, |
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Six Months Ended December 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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$ |
734 |
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$ |
700 |
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$ |
1,900 |
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$ |
1,341 |
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Interest expense |
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|
(909 |
) |
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(490 |
) |
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(1,434 |
) |
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(990 |
) |
Net recognized gains (losses) on investments |
|
|
69 |
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|
(15 |
) |
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(38 |
) |
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|
(2 |
) |
Net losses on derivatives |
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|
(267 |
) |
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(199 |
) |
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(174 |
) |
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|
(190 |
) |
Net gains (losses) on foreign currency remeasurements |
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|
36 |
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|
|
(18 |
) |
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|
(65 |
) |
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|
(96 |
) |
Other, net |
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|
(169 |
) |
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|
(38 |
) |
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|
(306 |
) |
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|
(69 |
) |
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Total |
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$ |
(506 |
) |
|
$ |
(60 |
) |
|
$ |
(117 |
) |
|
$ |
(6 |
) |
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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 December 31, |
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|
Six Months Ended December 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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Realized gains from sales of available-for-sale securities |
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$ |
4 |
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$ |
27 |
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$ |
6 |
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$ |
30 |
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Realized losses from sales of available-for-sale securities |
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|
(29 |
) |
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(23 |
) |
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(54 |
) |
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(43 |
) |
Impairments and allowance for credit losses |
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|
18 |
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|
5 |
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12 |
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(13 |
) |
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Total |
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$ |
(7 |
) |
|
$ |
9 |
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$ |
(36 |
) |
|
$ |
(26 |
) |
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Net recognized gains (losses) on equity investments were as follows:
(In millions) |
|
Three Months Ended December 31, |
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Six Months Ended December 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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Net realized gains (losses) on investments sold |
|
$ |
(31 |
) |
|
$ |
(8 |
) |
|
$ |
14 |
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$ |
75 |
|
Net unrealized gains (losses) on investments still held |
|
|
286 |
|
|
|
(7 |
) |
|
|
163 |
|
|
|
(35 |
) |
Impairments of investments |
|
|
(179 |
) |
|
|
(9 |
) |
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|
(179 |
) |
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|
(16 |
) |
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Total |
|
$ |
76 |
|
|
$ |
(24 |
) |
|
$ |
(2 |
) |
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$ |
24 |
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