ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

6 Months Ended

Dec. 31, 2019

NOTE 15 — 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,


		2019			2018				2019			2018

Derivatives

Balance, beginning of period	$	(2	)	$	128			$	0		$	173
Unrealized gains (losses), net of tax of $1, $3, $(1), and $2		2			71				(4	)		115

Reclassification adjustments for gains included in earnings		(8	)		(88	)			(3	)		(180	)
Tax expense included in provision for income taxes		2			2				1			5


Amounts reclassified from accumulated other comprehensive income (loss)		(6	)		(86	)			(2	)		(175	)


Net change related to derivatives, net of tax of $(1), $1, $(2), and $(3)		(4	)		(15	)			(6	)		(60	)


Balance, end of period	$	(6	)	$	113			$	(6	)	$	113


Investments

Balance, beginning of period	$	2,065		$	(1,178	)		$	1,488		$	(850	)
Unrealized gains (losses), net of tax of $(111), $234, $45, and $148		(414	)		879				162			556

Reclassification adjustments for (gains) losses included in other income (expense), net		(7	)		2				(6	)		80
Tax expense (benefit) included in provision for income taxes		1			0				1			(16	)


Amounts reclassified from accumulated other comprehensive income (loss)		(6	)		2				(5	)		64


Net change related to investments, net of tax of $(112), $234, $44, and $164		(420	)		881				157			620
Cumulative effect of accounting changes		0			0				0			(67	)


Balance, end of period	$	1,645		$	(297	)		$	1,645		$	(297	)


Translation Adjustments and Other

Balance, beginning of period	$	(2,124	)	$	(1,565	)		$	(1,828	)	$	(1,510	)
Translation adjustments and other, net of tax of $0, $(1), $(8), and $(1)		230			(264	)			(66	)		(319	)


Balance, end of period	$	(1,894	)	$	(1,829	)		$	(1,894	)	$	(1,829	)


Accumulated other comprehensive loss, end of period	$	(255	)	$	(2,013	)		$	(255	)	$	(2,013	)