Notes to Financial Statements

NOTE 19 — ACCUMULATED OTHER COMPREHENSIVE INCOME

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

 

(In millions)        


Year Ended June 30,    2016     2015     2014  

Derivatives

                        

Accumulated other comprehensive income balance, beginning of period

   $ 590      $ 31      $ 66   

Unrealized gains, net of tax effects of $24, $35 and $2

     351        1,152        63   

Reclassification adjustments for gains included in revenue

     (625     (608     (104

Tax expense included in provision for income taxes

     36        15        6   


 


 


Amounts reclassified from accumulated other comprehensive income

     (589     (593     (98


 


 


Net current period other comprehensive income (loss)

     (238     559        (35


 


 


Accumulated other comprehensive income balance, end of period

   $ 352      $ 590      $ 31   


 


 


Investments

                        

Accumulated other comprehensive income balance, beginning of period

   $ 3,169      $ 3,531      $ 1,794   

Unrealized gains, net of tax effects of $120, $59 and $1,067

     219        110        2,053   

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

     (688     (728     (447

Tax expense included in provision for income taxes

     241        256        131   


 


 


Amounts reclassified from accumulated other comprehensive income

     (447     (472     (316


 


 


Net current period other comprehensive income (loss)

     (228     (362     1,737   


 


 


Accumulated other comprehensive income balance, end of period

   $ 2,941      $ 3,169      $ 3,531   


 


 


Translation Adjustments and Other

                        

Accumulated other comprehensive income (loss) balance, beginning of period

   $ (1,237   $ 146      $ (117

Translation adjustments and other, net of tax effects of $(33), $16 and $12

     (519     (1,383     263   


 


 


Accumulated other comprehensive income (loss) balance, end of period

   $ (1,756   $ (1,237   $ 146   


 


 


Accumulated other comprehensive income, end of period

   $    1,537      $    2,522      $    3,708