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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, 2023
Jun. 30, 2022
Other Comprehensive Income (Loss), Net Investment Hedge, Gain (Loss), before Reclassification and Tax [1],[2] $ (544) $ 1,033
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net 238 73
Accumulated Other Comprehensive Income, Gain (Loss) $ (315) $ 1,639
[1] For the derivatives in net investment hedging relationships, the amount of gain excluded from effectiveness testing, which was recognized in earnings, was $238 and $73 for the fiscal years ended June 30, 2023 and 2022, 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 $(315) and $1,639, for the fiscal years ended June 30, 2023 and 2022, respectively.