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Liabilities

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 






















Non-designated hedge derivatives:

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other current liabilities

  

$

(91



 

$

(12



 

$

(9



 

$

(19



 

$

(4



 

$

(135



Designated hedge derivatives:

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other current liabilities

  

$

(128



 

$

0

  

 

$

0

  

 

$

0

  

 

$

0

  

 

$

(128



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

  

$

(219



 

$

(12



 

$

    (9



 

$

(19



 

$

(4



 

$

(263



 

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

See also Note 4 – Investments and Note 6 – Fair Value Measurements.
Fair Value Hedge Gains (Losses)

We recognized in other income (expense) the following gains (losses) on contracts designated as fair value hedges and their related hedged items:



 








































(In millions)

  

 

 

 

 

 

 

 

 

 

 













Year Ended June 30,

  

2012

 

 

2011

 

 

2010

 













Foreign Exchange Contracts

  

 

 

 

 

 

 

 

 













Derivatives

  

$

     52

  

 

$

(92



 

$

(57



Hedged items

  

 

(50



 

 

     85

  

 

 

     60

  

 

 

 

 

 

 

 

 

 

 

Total

  

$

2

  

 

$

(7



 

$

3

  

 

  

 

 

 

 

 

 

 

 

 

 

 

Cash Flow Hedge Gains (Losses)

We recognized the following gains (losses) on foreign exchange contracts designated as cash flow hedges (our only cash flow hedges during the periods presented):



 








































(In millions)

  

 

 

 

 

 

 

 

 

 

 













Year Ended June 30,

  

2012

 

 

2011

 

 

2010

 













Effective Portion

  

 

 

 

 

 

 

 

 













Gain (loss) recognized in OCI, net of tax effect of $127, $(340) and $188

  

$

   236

  

 

$

  (632



 

$

   349

  

Gain (loss) reclassified from OCI into revenue

  

$

(27



 

$

(7



 

$

495

  













Amount Excluded from Effectiveness Assessment and Ineffective Portion

  

 

 

 

 

 

 

 

 













Loss recognized in other income (expense)

  

$

(231



 

$

(276



 

$

(174




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