The following table presents the notional amounts of our outstanding derivative instruments measured in U.S. dollar equivalents:
| --- | --- | --- | --- | --- | | (In millions) | June 30, 2025 | June 30, 2025 | June 30, 2024 | June 30, 2024 | | Designated as Hedging Instruments | | | | | | Foreign exchange contracts purchased | $ | 1,492 | $ | 1,492 | | Interest rate contracts purchased | | 1,150 | | 1,100 | | Not Designated as Hedging Instruments | | | | | | Foreign exchange contracts purchased | | 15,214 | | 7,167 | | Foreign exchange contracts sold | | 43,307 | | 31,793 | | Equity contracts purchased | | 5,434 | | 4,016 | | Equity contracts sold | | 2,189 | | 2,165 | | Other contracts purchased | | 2,769 | | 2,113 | | Other contracts sold | | 1,242 | | 811 |
Fair Values of Derivative Instruments
The following table presents our derivative instruments:
Derivative
Derivative / Derivative / Derivative / Derivative / Derivative / Derivative / Derivative / Derivative / Derivative / Derivative
(In millions) ........................... Assets / Assets / Liabilities / Liabilities / Liabilities / Assets / Assets / Assets / Liabilities / Liabilities / Liabilities
June 30, 2025 / June 30, 2025 / June 30, 2025 / June 30, 2025 / June 30, 2025 / June 30, 2025 / June 30, 2024 / June 30, 2024 / June 30, 2024 / June 30, 2024 / June 30, 2024 / June 30, 2024 / June 30, 2024
Designated as Hedging Instruments
Foreign exchange contracts .............. $ / 89 / $ / ( 44 / ) / $ / 24 / $ / ( 76 / )
Interest rate contracts ................. 15 / 0 / 19 / 0
Not Designated as Hedging Instruments
Foreign exchange contracts .............. 248 / ( 809 / ) / 213 / ( 230 / )
Equity contracts ........................ 385 / ( 983 / ) / 63 / ( 491 / )
Other contracts ......................... 21 / ( 1 / ) / 12 / ( 3 / )
Gross amounts of derivatives ............ 758 / ( 1,837 / ) / 331 / ( 800 / )
Gross amounts of derivatives offset in the balance sheets ... ( 258 / ) / 260 / ( 151 / ) / 152
Cash collateral received ................ 0 / ( 99 / ) / 0 / ( 104 / )
Net amounts of derivatives .............. $ / 500 / $ / ( 1,676 / ) / $ / 180 / $ / ( 752 / )
Reported as
Short-term investments .................. $ / 10 / $ / 0 / $ / 12 / $ / 0
Other current assets .................... 201 / 0 / 149 / 0
Equity and other investments ............ 272 / 0 / 0 / 0
Other long-term assets .................. 17 / 0 / 19 / 0
Other current liabilities ............... 0 / ( 1,639 / ) / 0 / ( 401 / )
Other long-term liabilities ............. 0 / ( 37 / ) / 0 / ( 351 / )
Total ................................... $ / 500 / $ / ( 1,676 / ) / $ / 180 / $ / ( 752 / )
Gross derivative assets and liabilities subject to legally enforceable master netting agreements for which we have elected to offset were $ 452 million and $ 1.8 billion, respectively, as of June 30, 2025, and $ 304 million and $ 800 million, respectively, as of June 30, 2024.
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PART II