Reports suggested the funnyman stormed out of the prizegiving after the 2007 Oscar went to Alan Arkin, but he insists he simply didn't want to be part of an all-star pity party.
In a candid new Rolling Stone magazine interview, the movie star explains, "What happened was, after I lost, I'm just chilling, and I was sitting next to Beyonce's pops (father), and he leans over and grabs me and is like, 'There will be other times'.
"And then you feel (Steven) Spielberg on your shoulder going, 'It's all right, man'. Then Clint Eastwood walks by: 'Hey, guy...' So I was like, 'It's not going to be this night!' I didn't have sour grapes at all.
"That's another reason I wanted to host the show - to show them that I'm down with it."