 |
 |
NOTES TO FINANCIAL STATEMENTS |
|
NOTE 4 INVESTMENT INCOME AND OTHER
The components of investment income and other are as follows:
| (In millions) |
 |
| Year Ended June 30 |
2003) |
|
2004) |
|
2005) |
| |
| Dividends and interest |
$1,957) |
|
$1,892) |
|
$1,460) |
| Net gains on investments |
44) |
|
1,563) |
|
856) |
| Net losses on derivatives |
(424) |
|
(268) |
|
(262) |
| Income/(losses) from equity investees and other |
(68) |
|
(25) |
|
13) |
| Investment income and other |
$1,509) |
|
$3,162) |
|
$2,067) |
Net gains on investments include other-than-temporary impairments of $1.15 billion in fiscal year 2003, $82 million in fiscal year 2004, and $152 million in fiscal year 2005. Realized gains and (losses) from sales of available-for-sale securities (excluding other-than-temporary impairments) were $1.44 billion and $(245) million in fiscal year 2003, $2.16 billion and $(518) million in fiscal year 2004, and $1.38 billion and $(376) million in fiscal year 2005.
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