Note 12-Investment Income/(Loss)
The components of investment income/(loss) are as follows:
|
(In millions) |
|
|
|
|
|
|
Year Ended June 30 |
2001 |
|
2002 |
|
2003 |
|
|
|
|
|
|
|
|
Dividends |
$ 377 |
|
$ 357 |
|
$ 260 |
|
Interest |
1,808 |
|
1,762 |
|
1,697 |
|
Net recognized gains/(losses) on investments: |
|
|
|
|
|
|
Net gains on the sales of investments |
3,175 |
|
2,379 |
|
909 |
|
Other-than-temporary impairments |
(4,804) |
|
(4,323) |
|
(1,148) |
|
Net unrealized losses attributable to derivative instruments |
(592) |
|
(480) |
|
(141) |
|
Net recognized gains/(losses) on investments |
(2,221) |
|
(2,424) |
|
(380) |
|
Investment income/(loss) |
$ (36) |
|
$ (305) |
|
$ 1,577 |
Other than temporary impairments were recorded as follows for the three most recent fiscal years:
|
(In millions) |
|
|
|
|
|
|
Year Ended June 30 |
2001 |
|
2002 |
|
2003 |
|
|
|
|
|
|
|
|
Due to general market conditions |
$ 1,692 |
$ 2,793 |
$ 943 |
||
|
Due to specific adverse conditions |
3,112 |
|
1,530 |
|
205 |
|
Total Impairments |
$ 4,804 |
|
$ 4,323 |
|
$ 1,148 |
    |
||