Risk Management Activities and Fair Value Measurements (Tables)

6 Months Ended

Dec. 31, 2014

Risk Management Activities and Fair Value Measurements [Abstract]

Schedule Of Fair Value Assets And Liabilities Measured On Recurring Basis Table

The following table sets forth the Company’s financial assets as of December 31, 2014 and June 30, 2014 that are measured at fair value on a recurring basis during the period:

	Fair Value Asset
	December 31, 2014		June 30, 2014
Investments
U.S. government securities	$	3,077	$	1,631
Corporate bond securities	970		497
Other investments	29		30
Total	$	4,076	$	2,158

Schedule of Derivative Instruments

The following table sets forth the notional amounts and fair values of qualifying and non-qualifying financial instruments used in hedging transactions as of December 31, 2014 and June 30, 2014:

	Notional Amount				Fair Value Asset/(Liability)
	December 31, 2014		June 30, 2014		December 31, 2014			June 30, 2014
Derivatives in Cash Flow Hedging Relationships
Foreign currency contracts	$	951	$	951	$	300		$	187
Derivatives in Fair Value Hedging Relationships
Interest rate contracts	$	8,128	$	9,738	$	251		$	168
Derivatives in Net Investment Hedging Relationships
Net investment hedges	$	855	$	831	$	164		$	48
Derivatives Not Designated as Hedging Instruments
Foreign currency contracts	$	8,714	$	12,111	$	(143	)	$	(42	)

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)

	Amount of Gain (Loss) Recognized in Accumulated OCI on Derivatives (Effective Portion)
	December 31, 2014		June 30, 2014
Derivatives in Cash Flow Hedging Relationships
Interest rate contracts	$	1	$	3
Foreign currency contracts	8		14
Total	$	9	$	17
Derivatives in Net Investment Hedging Relationships
Net investment hedges	$	103	$	30

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance

The amounts of gains and losses on qualifying and non-qualifying financial instruments used in hedging transactions for the three and six months ended December 31, 2014 and 2013 are as follows:

	Amount of Gain/(Loss) Reclassified from Accumulated OCI into Income
	Three Months Ended December 31						Six Months Ended December 31
	2014			2013			2014			2013
Derivatives in Cash Flow Hedging Relationships(1)
Interest rate contracts	$	1		$	1		$	3		$	3
Foreign currency contracts	66			58			128			56
Total	$	67		$	59		$	131		$	59
	Amount of Gain/(Loss) Recognized in Income
	Three Months Ended December 31						Six Months Ended December 31
	2014			2013			2014			2013
Derivatives in Fair Value Hedging Relationships(2)
Interest rate contracts	$	60		$	(84	)	83			(113		)
Debt	(60		)	84			(83		)	113
Total	$	—		$	—		$	—		$	—
Derivatives in Net Investment Hedging Relationships (2)
Net investment hedges	$	—		$	—		$	(1	)	$	—
Derivatives Not Designated as Hedging Instruments (3)
Foreign currency contracts	$	(316	)	$	(26	)	$	(729	)	$	83

⁽¹⁾  The gain or loss on the effective portion of cash flow hedging relationships is reclassified from AOCI into net income in the same period during which the related item affects earnings. Such amounts are included in the Consolidated Statements of Earnings as follows: interest rate contracts in Interest expense and foreign currency contracts in Selling, general and administrative expense (SG&A) and Interest expense.

⁽²⁾  The gain or loss on the ineffective portion of interest rate contracts and net investment hedges, if any, is included in the Consolidated Statements of Earnings in Interest expense.

⁽³⁾  The gain or loss on foreign currency contracts not designated as hedging instruments is included in the Consolidated Statements of Earnings in SG&A. This gain or loss substantially offsets the foreign currency mark-to-market impact of the related exposure.