RISK MANAGEMENT ACTIVITIES AND FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Mar. 31, 2018

Risk Management Activities and Fair Value Measurements [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The following table sets forth the Company’s financial assets as of March 31, 2018 and June 30, 2017 that are measured at fair value on a recurring basis during the period:

	Fair Value Asset
	March 31, 2018		June 30, 2017
Investments
U.S. government securities	$	6,156	$	6,297
Corporate bond securities	4,052		3,271
Other investments	124		132
Total	$	10,332	$	9,700

Schedule of Derivative Instruments [Table Text Block]

The following table sets forth the notional amounts and fair values of qualifying and non-qualifying financial instruments used in hedging transactions as of March 31, 2018 and June 30, 2017:

	Notional Amount				Derivative Fair Value Asset/(Liability)
	March 31, 2018		June 30, 2017		March 31, 2018			June 30, 2017
Derivatives in Fair Value Hedging Relationships
Interest rate contracts (1)	$	4,705	$	4,552	$	91		$	178
Derivatives in Net Investment Hedging Relationships
Foreign exchange contracts	$	5,256	$	6,102	$	(350	)	$	(163	)
Derivatives Not Designated as Hedging Instruments
Foreign currency contracts	$	5,793	$	4,969	$	(35	)	$	18

⁽¹⁾ 

The fair value of the derivative asset/liability directly offsets the cumulative amount of the fair value hedging adjustment included in the carrying amount of the underlying debt obligation. The carrying amount of the underlying debt obligation, net of the fair value adjustment, was $4,775 as of March 31, 2018 and $4,705 as of June 30, 2017, respectively.

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block]

	Amount of Gain/(Loss) Recognized in AOCI on Derivatives
	March 31, 2018			June 30, 2017
Derivatives in Net Investment Hedging Relationships
Foreign exchange contracts	$	(239	)	$	(104	)

Derivative Instruments, Gain (Loss) [Table Text Block]

The amounts of gains and losses on qualifying and non-qualifying financial instruments used in hedging transactions for the three and nine months ended March 31, 2018 and 2017 are as follows:

	Amount of Gain/(Loss) Reclassified from AOCI into Earnings
	Three Months Ended March 31						Nine Months Ended March 31
	2018			2017			2018			2017
Derivatives in Cash Flow Hedging Relationships (1)
Foreign currency contracts	$	—		$	(25	)	$	—		$	74
	Amount of Gain/(Loss) Recognized in Earnings
	Three Months Ended March 31						Nine Months Ended March 31
	2018			2017			2018			2017
Derivatives in Fair Value Hedging Relationships (2)
Interest rate contracts	$	(46	)	$	(22	)	$	(87	)	$	(202	)
Debt	46			22			87			202
Total	$	—		$	—		$	—		$	—
Derivatives Not Designated as Hedging Instruments (3)
Foreign currency contracts	$	123		$	155		$	121		$	(29	)

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

⁽²⁾  The gain or loss on the derivative instrument as well as the offsetting loss or gain on the hedged item attributable to the hedged risk are both recognized 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.