Reclassification out of Accumulated Other Comprehensive Income "AOCI"

12 Months Ended

Jun. 30, 2023

Reclassification out of Accumulated Other Comprehensive Income [Abstract]

Reclassification out of Accumulated Other Comprehensive Income "AOCI"

RECLASSIFICATION OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME ("AOCI")

Comprehensive income is a measure of income that includes both net earnings and other comprehensive income (loss). Other comprehensive (loss)/income results from items deferred on the Consolidated Balance Sheets in stockholders' equity. Other comprehensive (loss)/income was ($312.1) million, ($2,004.3) million, and $25.4 million in fiscal 2023, 2022, and 2021, respectively. Changes in Accumulated Other Comprehensive Income (“AOCI”) by component are as follows:

	Currency Translation Adjustment		Net Gains/(Losses) on Available-for-sale Securities			Cash Flow Hedging Activities			Pension Liability			Accumulated Other Comprehensive (Loss) /Income
Balance at June 30, 2020	$	(322.2)	$	680.4		$	(30.3)		$	(342.7)		$	(14.8)
Other comprehensive income/(loss) before reclassification adjustments	95.4		(363.3)			(3.3)			281.5			10.3
Tax effect	—		82.6			0.8			(69.0)			14.4
Reclassification adjustments to net earnings	—		(11.3)		(A)	3.8		(C)	9.3		(B)	1.8
Tax effect	—		2.5			(0.9)			(2.7)			(1.1)
Balance at June 30, 2021	$	(226.8)	$	390.9		$	(29.9)		$	(123.6)		$	10.6
Other comprehensive income/(loss) before reclassification adjustments	(127.4)		(2,228.0)			—			(229.8)			(2,585.2)
Tax effect	—		503.7			—			57.3			561.0
Reclassification adjustments to net earnings	—		4.4		(A)	4.4		(C)	18.1		(B)	26.9
Tax effect	—		(1.0)			(1.1)			(4.9)			(7.0)
Balance at June 30, 2022	$	(354.2)	$	(1,330.0)		$	(26.6)		$	(282.9)		$	(1,993.7)
Other comprehensive income/(loss) before reclassification adjustments	13.4		(500.3)			—			60.3			(426.6)
Tax effect	—		113.3			—			(13.3)			100.0
Reclassification adjustments to net earnings	—		14.7		(A)	4.4		(C)	(0.4)		(B)	18.7
Tax effect	—		(3.3)			(1.1)			0.2			(4.2)
Balance at June 30, 2023	$	(340.8)	$	(1,705.6)		$	(23.3)		$	(236.1)		$	(2,305.8)

(A) Reclassification adjustments out of AOCI are included within Other (income)/expense, net, on the Statements of Consolidated Earnings.

(B) Reclassification adjustments out of AOCI are included in net pension (income)/expense (see Note 10).

(C) Reclassification adjustments out of AOCI are included in Interest expense on the Statements of Consolidated Earnings (see Note 9).