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UNEARNED REVENUE
 12 Months Ended
Jun. 30, 2018
Revenue From Contract With Customer [Abstract]  
UNEARNED REVENUE

NOTE 15 — UNEARNED REVENUE

Unearned revenue by segment was as follows:

 

(In millions)

 

 

 

 

 

 

 

 

 

 

 

 

June 30,

 

2018

 

 

2017

 

 

 

 

Productivity and Business Processes

 

$

14,864

 

 

$

12,692

 

Intelligent Cloud

 

 

14,706

 

 

 

11,152

 

More Personal Computing

 

 

3,150

 

 

 

2,812

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

  32,720

 

 

$

  26,656

 

 

 

 

 

 

 

 

 

 

 

The opening balance of unearned revenue was $22.2 billion as of July 1, 2016.

Changes in unearned revenue were as follows:

 

(In millions)

 

 

 

 

 

 

 

 

 

 

 

Year Ended June 30, 2018

 

 

 

 

 

 

Balance, beginning of period

 

$

26,656

 

Deferral of revenue

 

 

61,142

 

Recognition of unearned revenue

 

 

(55,078

) 

 

 

 

 

 

 

 

 

 

 

Balance, end of period

 

$

32,720

 

 

 

 

 

 

 

Revenue allocated to remaining performance obligations represents contracted revenue that has not yet been recognized (“contracted not recognized revenue”), which includes unearned revenue and amounts that will be invoiced and recognized as revenue in future periods. Contracted not recognized revenue was $73 billion as of June 30, 2018, of which we expect to recognize approximately 60% of the revenue over the next 12 months and the remainder thereafter.