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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
 6 Months Ended
Dec. 31, 2021
Equity [Abstract]  
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

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,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2021

 

 

 

2020

 

 

 

2021

 

 

 

2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivatives

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, beginning of period

 

$

(17

) 

 

$

(34

)

 

$

(19

)

 

$

(38

)

Unrealized gains (losses), net of tax of $(3), $7, $(6), and $12

 

 

(11

) 

 

 

25

 

 

 

(21

)

 

 

45

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

14

 

 

 

(21

)

 

 

29

 

 

 

(41

)

Tax expense (benefit) included in provision for income taxes

 

 

(3

) 

 

 

4

 

 

 

(6

)

 

 

8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amounts reclassified from accumulated other comprehensive income (loss)

 

 

11

 

 

 

(17

)

 

 

23

 

 

 

(33

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net change related to derivatives, net of tax of $0, $3, $0, and $4

 

 

0

 

 

 

8

 

 

 

2

 

 

 

12

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, end of period

 

$

(17

)

 

$

(26

)

 

$

(17

)

 

$

(26

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, beginning of period

 

$

2,800

 

 

$

5,287

 

 

$

3,222

 

 

$

5,478

 

Unrealized losses, net of tax of $(197), $(128), $(307), and $(178)

 

 

(742

)

 

 

(477

)

 

 

(1,157

)

 

 

(665

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

(1

)

 

 

(19

)

 

 

(10

)

 

 

(36

)

Tax expense included in provision for income taxes

 

 

0

 

 

 

4

 

 

 

2

 

 

 

8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amounts reclassified from accumulated other comprehensive income (loss)

 

 

(1

)

 

 

(15

)

 

 

(8

)

 

 

(28

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net change related to investments, net of tax of $(197), $(132), $(309), and $(186)

 

 

(743

)

 

 

(492

)

 

 

(1,165

)

 

 

(693

)

Cumulative effect of accounting changes

 

 

0

 

 

 

0

 

 

 

0

 

 

 

10

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, end of period

 

$

2,057

 

 

$

4,795

 

 

$

2,057

 

 

$

4,795

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Translation Adjustments and Other

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, beginning of period

 

$

(1,500

)

 

$

(2,143

)

 

$

(1,381

)

 

$

(2,254

)

Translation adjustments and other, net of tax of $0, $0, $0, and $(9)

 

 

(103

)

 

 

741

 

 

 

(222

)

 

 

852

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, end of period

 

$

(1,603

)

 

$

(1,402

)

 

$

(1,603

)

 

$

(1,402

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated other comprehensive income, end of period

 

$

437

 

 

$

3,367

 

 

$

437

 

 

$

3,367