NOTES TO FINANCIAL STATEMENTS
NOTE 17 OTHER COMPREHENSIVE INCOME
The activity in other comprehensive income and related income tax effects were as follows:
| (In millions) | |||
|---|---|---|---|
| Year Ended June 30, | 2008 | 2007 | 2006 |
| Net unrealized gains on derivative instruments: | |||
| Unrealized gains, net of tax effect of $46 in 2008, $66 in 2007, and $107 in 2006 | $ 86 | $123 | $ 199 |
| Reclassification adjustment for gains included in net income, net of tax effect of $(36) in 2008, $(59) in 2007, and $(66) in 2006 | (68) | (109) | (123) |
| Net unrealized gains on derivative instruments | 18 | 14 | 76 |
| Net unrealized gains (losses) on investments: | |||
| Unrealized gains (losses), net of tax effect of $(234) in 2008, $393 in 2007, and $(105) in 2006 | (435) | 730 | (195) |
| Reclassification adjustment for gains included in net income, net of tax effect of $(117) in 2008, $(217) in 2007, and $(47) in 2006 | (218) | (404) | (87) |
| Net unrealized gains (losses) on investments | (653) | 326 | (282) |
| Translation adjustments and other | 121 | 85 | 9 |
| Other comprehensive income (loss) | $(514) | $425 | $(197) |
The components of accumulated other comprehensive income were as follows:
| (In millions) | |||
|---|---|---|---|
| Year Ended June 30, | 2008 | 2007 | 2006 |
| Net unrealized gains on derivative instruments | $ ,135 | $ ,117 | $ 103 |
| Net unrealized gains on investments | 735 | 1,388 | 1,062 |
| Translation adjustments and other | 270 | 149 | 64 |
| Accumulated other comprehensive income | $1,140 | $1,654 | $1,229 |