Goodwill Impairment
We conducted our annual goodwill impairment test as of May 1, 2012 for all reporting units. This test, which was based on our most recent cash flow forecast, indicated that OSD’s carrying value exceeded its estimated fair value. Accordingly, we recorded a non-cash, non-tax deductible goodwill impairment charge of $6.2 billion during the three months ended June 30, 2012, reducing OSD’s goodwill from $6.4 billion to $223 million.
OTHER INCOME (EXPENSE) AND INCOME TAXES
Other Income (Expense)
The components of other income (expense) were as follows:
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(In millions)
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Year Ended June 30,
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2012
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2011
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2010
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Dividends and interest income
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$
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800
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$
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900
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$
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843
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Interest expense
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(380
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)
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(295
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)
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(151
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)
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Net recognized gains on investments
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564
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439
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348
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Net losses on derivatives
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(364
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)
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(77
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)
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(140
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)
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Net gains (losses) on foreign currency remeasurements
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(117
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)
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(26
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)
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1
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Other
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1
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(31
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)
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14
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Total
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$
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504
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$
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910
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$
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915
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