COMPREHENSIVE INCOME

9 Months Ended

Mar. 31, 2016

COMPREHENSIVE INCOME [Abstract]

COMPREHENSIVE INCOME

NOTE 8. COMPREHENSIVE INCOME

Comprehensive income was as follows for the periods indicated:

	Three Months Ended						Nine Months Ended
	3/31/2016			3/31/2015			3/31/2016			3/31/2015
Earnings from continuing operations	$	159		$	144		$	483		$	417
Earnings (losses) from discontinued operations, net of tax		3			30			-			(28	)
Net earnings		162			174			483			389
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments		20			(32	)		(47	)		(51	)
Net unrealized gains (losses) on derivatives		(1	)		3			4			(17	)
Pension and postretirement benefit adjustments		-			1			3			4
Total other comprehensive income (loss), net of tax		19			(28	)		(40	)		(64	)
Comprehensive income	$	181		$	146		$	443		$	325

Changes in accumulated other comprehensive net loss by component were as follows:

	Three Months Ended						Nine Months Ended
	3/31/2016			3/31/2015			3/31/2016			3/31/2015
Foreign currency adjustments
Other comprehensive gains (losses) before reclassifications	$	21		$	(33	)	$	(40	)	$	(88	)
Reclassification of (gains) losses into earnings:
Recognition of deferred foreign currency translation loss		-			-			-			30
Income tax benefit (expense)		(1	)		1			(7	)		7
Foreign currency adjustments, net of tax	$	20		$	(32	)	$	(47	)	$	(51	)
Net unrealized gains (losses) on derivatives
Other comprehensive gains (losses) before reclassifications	$	(6	)	$	2		$	(8	)	$	(21	)
Reclassification of (gains) losses into earnings		5			3			13			6
Income tax benefit (expense)		-			(2	)		(1	)		(2	)
Net unrealized gains (losses) on derivatives, net of tax	$	(1	)	$	3		$	4		$	(17	)
Pension and postretirement benefit adjustments
Other comprehensive gains (losses) before reclassifications	$	-		$	-		$	-		$	(2	)
Reclassification of (gains) losses into earnings		1			2			4			7
Income tax benefit (expense)		(1	)		(1	)		(1	)		(1	)
Pension and postretirement benefit adjustments, net of tax	$	-		$	1		$	3		$	4
Total other comprehensive income (loss), net of tax	$	19		$	(28	)	$	(40	)	$	(64	)

Included in foreign currency adjustments are re-measurement losses on long-term intercompany loans where settlement is not planned or anticipated in the foreseeable future. For the three and nine months ended March 31, 2016, other comprehensive net income (loss) on these loans totaled $0 and $(11), respectively. For the three and nine months ended March 31, 2015, other comprehensive net income (loss) on these loans totaled $(4) and $(8), respectively. There were no amounts reclassified from accumulated other comprehensive net loss for the periods presented related to long-term intercompany loans where settlement is not planned or anticipated in the foreseeable future.