(In millions)

Year Ended June 30,

2021

2020

2019

Derivatives

Balance, beginning of period

$

(38

)

$

0

$

173

Unrealized gains (losses), net of tax of $9, $(10), and $2

34

(38

)

160

Reclassification adjustments for gains included in earnings

(17

)

0

(341

)

Tax expense included in provision for income taxes

2

0

8

Amounts reclassified from accumulated other comprehensive income (loss)

(15

)

0

(333

)

Net change related to derivatives, net of tax of $7, $(10), and $(6)

19

(38

)

(173

)

Balance, end of period

$

(19

)

$

(38

)

$

0

Investments

Balance, beginning of period

$

5,478

$

1,488

$

(850

)

Unrealized gains (losses), net of tax of $(589), $1,057, and $616

(2,216

)

3,987

2,331

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

(63

)

4

93

Tax expense (benefit) included in provision for income taxes

13

(1

)

(19

)

Amounts reclassified from accumulated other comprehensive income (loss)

(50

)

3

74

Net change related to investments, net of tax of $(602), $1,058, and $635

(2,266

)

3,990

2,405

Cumulative effect of accounting changes

10

0

(67

)

Balance, end of period

$

3,222

$

5,478

$

1,488

Translation Adjustments and Other

Balance, beginning of period

$

(2,254

)

$

  (1,828

)

$

  (1,510

)

Translation adjustments and other, net of tax effects of $(9), $1, and $(1)

873

(426

)

(318

)

Balance, end of period

$

(1,381

)

$

(2,254

)

$

(1,828

)

Accumulated other comprehensive income (loss), end of period

$

1,822

$

3,186

$

(340

)