XML 81 R28.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

DERIVATIVES (Tables) | 6 Months Ended
--- | ---
Dec. 31, 2019
Notional Amounts of Outstanding Derivative Instruments Measured in U.S. Dollar Equivalents | The following table presents the notional amounts of our outstanding derivative instruments measured in U.S. dollar equivalents:
(In millions) |  | December 31, 2019 |  |  | June 30, 2019 |
Designated as Hedging Instruments |  |  |  |  |  |  |  |
Foreign exchange contracts purchased |  | $ | 438 |  |  | $ | 0 |
Foreign exchange contracts sold |  |  | 6,440 |  |  |  | 6,034 |
Interest rate contracts purchased |  |  | 1,187 |  |  |  | 0 |
Not Designated as Hedging Instruments |  |  |  |  |  |  |  |
Foreign exchange contracts purchased |  |  | 11,460 |  |  |  | 14,889 |
Foreign exchange contracts sold |  |  | 11,738 |  |  |  | 15,614 |
Other contracts purchased |  |  | 1,715 |  |  |  | 2,007 |
Other contracts sold |  |  | 463 |  |  |  | 456 |
Fair Values of Derivative Instruments | The following table presents our derivative instruments:
|  | Derivative |  |  |  | Derivative |  |  | Derivative |  |  | Derivative |
(In millions) |  | Assets |  |  |  | Liabilities |  |  | Assets |  |  | Liabilities |
|  | December 31, 2019 |  |  | June 30, 2019 |
Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts |  | $ | 33 |  |  | $ | (24 | ) |  | $ | 0 |  |  | $ | (93 | )
Interest rate contracts |  |  | 0 |  |  |  | (11 | ) |  |  | 0 |  |  |  | 0 |
Not Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts |  |  | 165 |  |  |  | (148 | ) |  |  | 204 |  |  |  | (172 | )
Other contracts |  |  | 33 |  |  |  | (4 | ) |  |  | 46 |  |  |  | (7 | )
Gross amounts of derivatives |  |  | 231 |  |  |  | (187 | ) |  |  | 250 |  |  |  | (272 | )
Gross amounts of derivatives offset in the balance sheet |  |  | (85 | ) |  |  | 86 |  |  |  | (113 | ) |  |  | 114 |
Cash collateral received |  |  | 0 |  |  |  | (93 | ) |  |  | 0 |  |  |  | (78 | )
Net amounts of derivatives |  | $ | 146 |  |  | $ | (194 | ) |  | $ | 137 |  |  | $ | (236 | )
Reported as |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Short-term investments |  | $ | 22 |  |  | $ | 0 |  |  | $ | (13 | ) |  | $ | 0 |
Other current assets |  |  | 133 |  |  |  | 0 |  |  |  | 146 |  |  |  | 0 |
Other long-term assets |  |  | (9 | ) |  |  | 0 |  |  |  | 4 |  |  |  | 0 |
Other current liabilities |  |  | 0 |  |  |  | (150 | ) |  |  | 0 |  |  |  | (221 | )
Other long-term liabilities |  |  | 0 |  |  |  | (44 | ) |  |  | 0 |  |  |  | (15 | )
Total |  | $ | 146 |  |  | $ | (194 | ) |  | $ | 137 |  |  | $ | (236 | )
The following table presents the fair value of our derivatives instruments on a gross basis:
(In millions) |  | Level 1 |  |  |  | Level 2 |  |  | Level 3 |  |  | Total |
December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative assets |  | $ | 1 |  |  | $ | 227 |  |  | $ | 3 |  |  | $ | 231 |
Derivative liabilities |  |  | 0 |  |  |  | (187 | ) |  |  | 0 |  |  |  | (187 | )
June 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative assets |  |  | 0 |  |  |  | 247 |  |  |  | 3 |  |  |  | 250 |
Derivative liabilities |  |  | 0 |  |  |  | (272 | ) |  |  | 0 |  |  |  | (272 | )
Gains (Losses) on Derivative Instruments | Gains (losses) on derivative instruments recognized in our consolidated income statements were as follows:
|  | Three Months Ended December 31, |  |  | Six Months Ended December 31, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
(In millions) |  | Revenue |  |  | Other Income (Expense), Net |  |  | Revenue |  |  | Other Income (Expense), Net |  |  | Revenue |  |  | Other Income (Expense), Net |  |  | Revenue |  |  | Other Income (Expense), Net |
Designated as Fair Value Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  | $ | 0 |  |  | $ | 23 |  |  | $ | 0 |  |  | $ | (184 | ) |  | $ | 0 |  |  | $ | 53 |  |  | $ | 0 |  |  | $ | (62 | )
Hedged items |  |  | 0 |  |  |  | (26 | ) |  |  | 0 |  |  |  | 184 |  |  |  | 0 |  |  |  | (59 | ) |  |  | 0 |  |  |  | 62 |
Excluded from effectiveness assessment |  |  | 0 |  |  |  | 42 |  |  |  | 0 |  |  |  | 45 |  |  |  | 0 |  |  |  | 83 |  |  |  | 0 |  |  |  | 73 |
Interest rate contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  | 0 |  |  |  | (14 | ) |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | (13 | ) |  |  | 0 |  |  |  | 0 |
Hedged items |  |  | 0 |  |  |  | 13 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 12 |  |  |  | 0 |  |  |  | 0 |
Designated as Cash Flow Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amount reclassified from accumulated other comprehensive income |  |  | 0 |  |  |  | 8 |  |  |  | 88 |  |  |  | 0 |  |  |  | 0 |  |  |  | 3 |  |  |  | 180 |  |  |  | 0 |
Excluded from effectiveness assessment |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | (14 | ) |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | (41 | )
Not Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts |  |  | 0 |  |  |  | 52 |  |  |  | 0 |  |  |  | (79 | ) |  |  | 0 |  |  |  | (119 | ) |  |  | 0 |  |  |  | (109 | )
Other contracts |  |  | 0 |  |  |  | 1 |  |  |  | 0 |  |  |  | 8 |  |  |  | 0 |  |  |  | 2 |  |  |  | 0 |  |  |  | 5 |
Cash Flow Hedges | Other Comprehensive Income |
Gains (Losses) on Derivative Instruments | Gains (losses), net of tax, on derivative instruments recognized in our consolidated comprehensive income statements were as follows:
(In millions) |  | Three Months Ended December 31, |  |  | Six Months Ended December 31, |
|  |  | 2019 |  |  |  | 2018 |  |  |  | 2019 |  |  |  | 2018 |
Designated as Cash Flow Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Included in effectiveness assessment |  | $ | 2 |  |  | $ | 70 |  |  | $ | (4 | ) |  | $ | 114 |

X
- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the notional amounts of outstanding derivative positions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579245-113959 + Details
Name: | us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis=us-gaap_CashFlowHedgingMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_OtherComprehensiveIncomeLocationAxis=us-gaap_OtherComprehensiveIncomeMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |