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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, 2020
Jun. 30, 2019
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net $ 69 $ 70
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax [1],[2] 66 47
Accumulated Other Comprehensive Income, Gain (Loss) $ 189 $ 299
[1] For the derivatives in net investment hedging relationships, the amount of gain/(loss) excluded from effectiveness testing, which was recognized in earnings, was $69 and $70 for the fiscal year ended June 30, 2020 and 2019, respectively.
[2] 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 $189 and $299, as of June 30, 2020 and 2019, respectively.