NOTE 3 — OTHER INCOME (EXPENSE), NET The components of other income (expense), net were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
(In millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended June 30, |
|
2025 |
|
|
2024 |
|
|
2023 |
|
|
|
|
|
Interest and dividends income |
|
$ |
2,647 |
|
|
$ |
3,157 |
|
|
$ |
2,994 |
|
Interest expense |
|
|
(2,385 |
) |
|
|
(2,935 |
) |
|
|
(1,968 |
) |
Net recognized gains (losses) on investments |
|
|
(349 |
) |
|
|
(118 |
) |
|
|
260 |
|
Net losses on derivatives |
|
|
(260 |
) |
|
|
(187 |
) |
|
|
(456 |
) |
Net gains (losses) on foreign currency remeasurements |
|
|
171 |
|
|
|
(244 |
) |
|
|
181 |
|
Other, net |
|
|
(4,725 |
) |
|
|
(1,319 |
) |
|
|
(223 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
$ |
(4,901 |
) |
|
$ |
(1,646 |
) |
|
$ |
788 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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:
|
|
|
|
|
|
|
|
|
|
|
|
|
(In millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended June 30, |
|
2025 |
|
|
2024 |
|
|
2023 |
|
|
|
|
|
Realized gains from sales of available-for-sale securities |
|
$ |
40 |
|
|
$ |
22 |
|
|
$ |
36 |
|
Realized losses from sales of available-for-sale securities |
|
|
(65 |
) |
|
|
(98 |
) |
|
|
(124 |
) |
Impairments and allowance for credit losses |
|
|
8 |
|
|
|
23 |
|
|
|
(10 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
$ |
(17 |
) |
|
$ |
(53 |
) |
|
$ |
(98 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net recognized gains (losses) on equity investments were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
(In millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended June 30, |
|
2025 |
|
|
2024 |
|
|
2023 |
|
|
|
|
|
Net realized gains on investments sold |
|
$ |
83 |
|
|
$ |
18 |
|
|
$ |
75 |
|
Net unrealized gains on investments still held |
|
|
536 |
|
|
|
146 |
|
|
|
303 |
|
Impairments of investments |
|
|
(951 |
) |
|
|
(229 |
) |
|
|
(20 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
$ |
(332 |
) |
|
$ |
(65 |
) |
|
$ |
358 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|