DERIVATIVES (Tables)

9 Months Ended

Mar. 31, 2026

Notional Amounts of Outstanding Derivative Instruments Measured in U.S. Dollar Equivalents

The following table presents the notional amounts of our outstanding derivative instruments measured in U.S. dollar equivalents:


(In millions)		March 31, 2026				June 30, 2025


Designated as Hedging Instruments

Foreign exchange contracts purchased		$	1,492			$	1,492
Interest rate contracts purchased			1,180				1,150

Not Designated as Hedging Instruments

Foreign exchange contracts purchased			14,050				15,214
Foreign exchange contracts sold			40,593				43,307
Equity contracts purchased			5,192				5,434
Equity contracts sold			2,546				2,189
Other contracts purchased			2,872				2,769
Other contracts sold			864				1,242

Fair Values of Derivative Instruments

The following table presents our derivative instruments:


		Derivative					Derivative			Derivative				Derivative
(In millions)		Assets					Liabilities			Assets				Liabilities


		March 31, 2026								June 30, 2025

Designated as Hedging Instruments

Foreign exchange contracts		$	56			$	(66	)		$	89			$	(44	)
Interest rate contracts			4				0				15				0

Not Designated as Hedging Instruments

Foreign exchange contracts			974				(427	)			248				(809	)
Equity contracts			34				(160	)			385				(983	)
Other contracts			12				(18	)			21				(1	)


Gross amounts of derivatives			1,080				(671	)			758				(1,837	)
Gross amounts of derivatives offset in the balance sheets			(328	)			329				(258	)			260
Cash collateral received			0				(404	)			0				(99	)


Net amounts of derivatives		$	752			$	(746	)		$	500			$	(1,676	)


Reported as

Short-term investments		$	44			$	0			$	10			$	0
Other current assets			704				0				201				0
Equity and other investments			0				0				272				0
Other long-term assets			4				0				17				0
Other current liabilities			0				(630	)			0				(1,639	)
Other long-term liabilities			0				(116	)			0				(37	)


Total		$	752			$	(746	)		$	500			$	(1,676	)

The following table presents the fair value of our derivatives instruments on a gross basis:


(In millions)		Level 1					Level 2			Level 3				Total


March 31, 2026

Derivative assets		$	1			$	1,074			$	5			$	1,080
Derivative liabilities			0				(671	)			0				(671	)

June 30, 2025

Derivative assets			1				474				283				758
Derivative liabilities			0				(1,832	)			(5	)			(1,837	)

Gains (Losses) on Derivative Instruments

Gains (losses) on derivative instruments recognized in other income (expense), net were as follows:


(In millions)			Three Months Ended March 31,								Nine Months Ended March 31,


			2026				2025				2026				2025

Designated as Fair Value Hedging Instruments

Interest rate contracts
Derivatives		$	(2	)		$	3			$	(4	)		$	5
Hedged items			(4	)			(12	)			(19	)			(36	)

Designated as Cash Flow Hedging Instruments

Foreign exchange contracts
Amount reclassified from accumulated other comprehensive loss			(34	)			50				(46	)			(7	)

Not Designated as Hedging Instruments

Foreign exchange contracts			(100	)			(372	)			227				383
Equity contracts			133				176				1,743				(283	)
Other contracts			(13	)			18				(7	)			16

Cash Flow Hedges | Other Comprehensive Income (Loss)

Gains (Losses) on Derivative Instruments

Gains (losses), net of tax, on derivative instruments recognized in our consolidated comprehensive income statements were as follows:


(In millions)		Three Months Ended March 31,								Nine Months Ended March 31,


		2026				2025				2026				2025

Designated as Cash Flow Hedging Instruments

Foreign exchange contracts
Included in effectiveness assessment		$	(27	)		$	20			$	(43	)		$	(1	)