NOTE 19 — ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
The following table summarizes the changes in accumulated other comprehensive income (loss) by component:
(In millions) |
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Year Ended June 30, |
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2018 |
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2017 |
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2016 |
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Derivatives |
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Balance, beginning of period |
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$ |
134 |
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$ |
352 |
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$ |
590 |
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Unrealized gains, net of tax of $11, $4, and $24 |
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218 |
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328 |
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351 |
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Reclassification adjustments for gains included in revenue |
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(185 |
) |
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(555 |
) |
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(625 |
) |
Tax expense included in provision for income taxes |
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6 |
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9 |
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36 |
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Amounts reclassified from accumulated other comprehensive income |
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(179 |
) |
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(546 |
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(589 |
) |
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Net change related to derivatives, net of tax of $5, $(5), and $(12) |
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39 |
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(218 |
) |
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(238 |
) |
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Balance, end of period |
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$ |
173 |
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$ |
134 |
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$ |
352 |
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Investments |
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Balance, beginning of period |
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$ |
1,825 |
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$ |
2,941 |
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$ |
3,169 |
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Unrealized gains (losses), net of tax of $(427), $267, and $120 |
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(1,146 |
) |
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517 |
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219 |
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Reclassification adjustments for gains included in other income (expense), net |
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(2,309 |
) |
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(2,513 |
) |
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(688 |
) |
Tax expense included in provision for income taxes |
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738 |
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880 |
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241 |
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Amounts reclassified from accumulated other comprehensive income |
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(1,571 |
) |
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(1,633 |
) |
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(447 |
) |
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Net change related to investments, net of tax of $(1,165), $(613), and $(121) |
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(2,717 |
) |
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(1,116 |
) |
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(228 |
) |
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Balance, end of period |
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$ |
(892 |
) |
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$ |
1,825 |
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$ |
2,941 |
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Translation Adjustments and Other |
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Balance, beginning of period |
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$ |
(1,332 |
) |
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$ |
(1,499 |
) |
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$ |
(1,237 |
) |
Translation adjustments and other, net of tax effects of $0, $9, and $(33) |
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(178 |
) |
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167 |
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(262 |
) |
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Balance, end of period |
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$ |
(1,510 |
) |
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$ |
(1,332 |
) |
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$ |
(1,499 |
) |
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Cumulative effect of accounting change |
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42 |
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0 |
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0 |
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Accumulated other comprehensive income (loss), end of period |
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$ |
(2,187 |
) |
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$ |
627 |
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$ |
1,794 |
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