NOTE 17 — 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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2020 |
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2019 |
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2018 |
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Derivatives |
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Balance, beginning of period |
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$ |
0 |
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$ |
173 |
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$ |
134 |
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Unrealized gains (losses), net of tax of $(10), $2, and $11 |
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(38 |
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160 |
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218 |
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Reclassification adjustments for gains included in revenue |
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0 |
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(341 |
) |
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(185 |
) |
Tax expense included in provision for income taxes |
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0 |
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8 |
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6 |
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Amounts reclassified from accumulated other comprehensive income (loss) |
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0 |
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(333 |
) |
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(179 |
) |
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Net change related to derivatives, net of tax of $(10), $(6), and $5 |
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(38 |
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(173 |
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39 |
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Balance, end of period |
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$ |
(38 |
) |
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$ |
0 |
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$ |
173 |
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Investments |
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Balance, beginning of period |
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$ |
1,488 |
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$ |
(850 |
) |
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$ |
1,825 |
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Unrealized gains (losses), net of tax of $1,057, $616, and $(427) |
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3,987 |
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2,331 |
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(1,146 |
) |
Reclassification adjustments for (gains) losses included in other income (expense), net |
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4 |
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93 |
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(2,309 |
) |
Tax expense (benefit) included in provision for income taxes |
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(1 |
) |
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(19 |
) |
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738 |
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Amounts reclassified from accumulated other comprehensive income (loss) |
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3 |
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74 |
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(1,571 |
) |
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Net change related to investments, net of tax of $1,058, $635, and $(1,165) |
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3,990 |
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2,405 |
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(2,717 |
) |
Cumulative effect of accounting changes |
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0 |
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(67 |
) |
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42 |
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Balance, end of period |
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$ |
5,478 |
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$ |
1,488 |
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$ |
(850 |
) |
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Translation Adjustments and Other |
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Balance, beginning of period |
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$ |
(1,828 |
) |
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$ |
(1,510 |
) |
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$ |
(1,332 |
) |
Translation adjustments and other, net of tax effects of $1, $(1), and $0 |
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(426 |
) |
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(318 |
) |
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(178 |
) |
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Balance, end of period |
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$ |
(2,254 |
) |
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$ |
(1,828 |
) |
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$ |
(1,510 |
) |
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Accumulated other comprehensive income (loss), end of period |
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$ |
3,186 |
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$ |
(340 |
) |
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$ |
(2,187 |
) |
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