Notes to Financial Statements

NOTE 16 — ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The following table summarizes the changes in accumulated other comprehensive income (loss) by component:

 

(In millions)

 

Three Months Ended

December 31,

 

 

Six Months Ended

December 31,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2018

 

 

 

2017

 

 

 

2018

 

 

 

2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivatives

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, beginning of period

 

$

128

 

 

$

28

 

 

$

173

 

 

$

134

 

Unrealized gains, net of tax of $3, $1, $2, and $1

 

 

71

 

 

 

11

 

 

 

115

 

 

 

15

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reclassification adjustments for gains included in revenue

 

 

(88

)

 

 

(19

)

 

 

(180

)

 

 

(130

)

Tax expense included in provision for income taxes

 

 

2

 

 

 

1

 

 

 

5

 

 

 

2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amounts reclassified from accumulated other comprehensive income (loss)

 

 

(86

)

 

 

(18

)

 

 

(175

)

 

 

(128

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net change related to derivatives, net of tax of $1, $0, $(3), and $(1)

 

 

(15

)

 

 

(7

)

 

 

(60

)

 

 

(113

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, end of period

 

$

113

 

 

$

21

 

 

$

113

 

 

$

21

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, beginning of period

 

$

(1,178

)

 

$

1,537

 

 

$

(850

)

 

$

1,825

 

Unrealized gains (losses), net of tax of $234, $(211), $148, and $(161)

 

 

879

 

 

(390

)

 

 

556

 

 

(317

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reclassification adjustments for (gains) losses included in other income (expense), net

 

 

2

 

 

(751

)

 

 

80

 

 

(1,306

)

Tax expense (benefit) included in provision for income taxes

 

 

0

 

 

263

 

 

 

(16

)

 

 

457

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amounts reclassified from accumulated other comprehensive income (loss)

 

 

2

 

 

(488

)

 

 

64

 

 

(849

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net change related to investments, net of tax of $234, $(474), $164, and $(618)

 

 

881

 

 

(878

)

 

 

620

 

 

(1,166

)

Cumulative effect of accounting changes

 

 

0

 

 

 

0

 

 

 

(67

)

 

 

0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, end of period

 

$

(297

)

 

$

659

 

 

$

(297

)

 

$

659

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Translation adjustments and other

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, beginning of period

 

$

(1,565

)

 

$

(1,039

)

 

$

(1,510

)

 

$

(1,332

)

Translation adjustments and other, net of tax of $(1), $0, $(1), and $(1)

 

 

(264

)

 

 

(40

)

 

 

(319

)

 

 

253

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, end of period

 

$

  (1,829

)

 

$

  (1,079

)

 

$

(1,829

)

 

$

(1,079

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated other comprehensive loss, end of period

 

$

(2,013

)

 

$

(399

)

 

$

(2,013

)

 

$

(399

)