|
NOTES TO FINANCIAL STATEMENTS
NOTE 14 OTHER COMPREHENSIVE INCOME
| In millions |
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
| Year Ended June 30 |
|
2000 |
|
|
|
2001 |
|
|
|
2002 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
Cumulative effect of accounting change, net of tax effect
of $(37) |
$ |
– |
|
|
$ |
(75 |
) |
|
$ |
– |
|
|
|
|
|
|
|
|
|
| Net gains/(losses) on derivative instruments: |
|
|
|
|
|
|
|
|
|
|
|
Unrealized gains, net of tax effect of $246 in 2001
and $30 in 2002 |
|
– |
|
|
|
499 |
|
|
|
55 |
|
Reclassification adjustment for (gains)/losses included in
net income, net of tax effect of $67 in 2001 and $(79)
in 2002 |
|
– |
|
|
|
135 |
|
|
|
(146 |
) |
|
|
|
|
|
|
|
|
| |
Net gains/(losses) on derivative instruments |
|
– |
|
|
|
634 |
|
|
|
(91 |
) |
|
|
|
|
|
|
|
|
| Net unrealized investment gains/(losses): |
|
|
|
|
|
|
|
|
|
|
|
Unrealized holding gains/(losses), net of tax effect
of
$248
in 2000, $(351) in 2001, and $(955) in 2002 |
|
531 |
|
|
|
(1,200 |
) |
|
|
(1,774 |
) |
Reclassification adjustment for (gains)/losses included in
net income, net of tax effect of $(420) in 2000, $(128)
in 2001, and $958 in 2002 |
|
(814 |
) |
|
|
(260 |
) |
|
|
1,779 |
|
|
|
|
|
|
|
|
|
| |
Net unrealized investment gains/(losses) |
|
(283 |
) |
|
|
(1,460 |
) |
|
|
5 |
|
|
|
|
|
|
|
|
|
| Translation adjustments and other |
|
23 |
|
|
|
(39 |
) |
|
|
82 |
|
|
|
|
|
|
|
|
|
| |
|
Other comprehensive income/(loss) |
$ |
(260 |
) |
|
$ |
(940 |
) |
|
$ |
(4 |
) |
| |
|
|
|
|
|
|
|
|
The components of accumulated other comprehensive income were:
| In millions |
|
|
|
| |
|
|
|
|
|
|
|
| June 30 |
|
2001 |
|
|
|
2002 |
|
| |
|
|
|
|
|
|
|
| Net gains on derivative instruments |
$ |
177 |
|
|
$ |
86 |
|
| Net unrealized investment gains |
|
598 |
|
|
|
603 |
|
| Translation adjustments and other |
|
(188 |
) |
|
|
(106 |
) |
|
|
|
|
|
| |
Accumulated other comprehensive income |
$ |
587 |
|
|
$ |
583 |
|
| |
|
|
|
|
|
|
|
