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RISK MANAGEMENT ACTIVITIES AND FAIR VALUE MEASUREMENTS - GAINS AND LOSSES ON DERIVATIVES IN NET INVESTMENT HEDGES (Details) - USD ($)
$ in Millions
12 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net $ 70 $ 138
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax [1],[2] 47 (187)
Accumulated Other Comprehensive Income, Gain (Loss) $ 299 $ (391)
[1]
In addition to the foreign currency derivative contracts designated as net investment hedges, certain of our foreign currency denominated debt instruments are designated as net investment hedges. The amount of gain/(loss) recognized in AOCI for such instruments was $299 and $(391), as of June 30, 2019 and 2018, respectively.
[2] For the derivatives in net investment hedging relationships, the amount of gain/(loss) excluded from effectiveness testing, which was recognized in earnings, was $70 and $138 for the fiscal year ended June 30, 2019 and 2018, respectively.