Microsoft 2015 Annual Report Download - page 53

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52
NOTE 3 — OTHER INCOME (EXPENSE), NET
The components of other income (expense), net were as follows:
(In millions)
Y
ear Ended June 30, 2015
2014 2013
Dividends and interest income $ 766 $ 883 $ 677
Interest expense (781 ) (597) (429)
Net recognized gains on investments 716 437 116
Net losses on derivatives (423 ) (328) (196)
Net gains (losses) on foreign currency remeasurements 335 (165) (74)
Other (267 ) (169) 194
Total $ 346 $ 61 $288
Following are details of net recognized gains on investments during the periods reported:
(In millions)
Y
ear Ended June 30, 2015
2014 2013
Other-than-temporary impairments of investments $(183 ) $ (106) $(208)
Realized gains from sales of available-for-sale securities 1,176 776 489
Realized losses from sales of available-for-sale securities (277 ) (233) (165)
Total $716 $ 437 $116
NOTE 4 — INVESTMENTS
Investment Components
The components of investments, including associated derivatives, but excluding held-to-maturity investments, were
as follows:
(In millions) Cost Basis
Unrealized
Gains
Unrealized
Losses
Recorded
Basis
Cash
and Cash
Equivalents
Short-term
Investments
Equity
and Other
Investments
June 30, 2015
Cash $ 3,679 $ 0 $ 0 $ 3,679 $ 3,679 $ 0 $ 0
Mutual funds 1,100 0 0 1,100 1,100 0 0
Commercial paper 1 0 0 1 1 0 0
Certificates of deposit 906 0 0 906 776 130 0
U.S. government and agency
securities 72,843 76 (30) 72,889 39 72,850 0
Foreign government bonds 5,477 3 (24) 5,456 0 5,456 0
Mortgage- and asset-backed
securities 4,899 23 (6) 4,916 0 4,916 0
Corporate notes and bonds 7,192 97 (37) 7,252 0 7,252 0
Municipal securities 285 35 (1) 319 0 319 0
Common and preferred stock 6,668 4,986 (215) 11,439 0 0 11,439
Other investments 597 0 0 597 0 8 589
Total $ 103,647 $ 5,220 $ (313) $ 108,554 $ 5,595 $ 90,931 $ 12,028