(c) Tax benefit related to net investment hedge of foreign operations

  
Amcor plc and SubsidiariesConsolidated Statements of Comprehensive Income($ in millions)

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| For the years ended June 30,  |  | 2022 |  | 2021 |  | 2020 |
| Net income |  | $ | 815  |  |  | $ | 951  |  |  | $ | 616  |  |
| Other comprehensive income/(loss): |  |  |  |  |  |  |
| Net gains/(losses) on cash flow hedges, net of tax (a) |  | (7) |  |  | 26  |  |  | (22) |  |
| Foreign currency translation adjustments, net of tax (b) |  | (201) |  |  | 205  |  |  | (287) |  |
| Net investment hedge of foreign operations, net of tax (c) |  | —  |  |  | —  |  |  | (2) |  |
| Pension, net of tax (d) |  | 94  |  |  | 52  |  |  | (16) |  |
| Other comprehensive income/(loss) |  | (114) |  |  | 283  |  |  | (327) |  |
| Total comprehensive income |  | 701  |  |  | 1,234  |  |  | 289  |  |
| Comprehensive income attributable to non-controlling interests |  | (10) |  |  | (12) |  |  | (4) |  |
| Comprehensive income attributable to Amcor plc |  | $ | 691  |  |  | $ | 1,222  |  |  | $ | 285  |  |
|  |  |  |  |  |  |  |
| (a) Tax benefit related to cash flow hedges |  | $ | 2  |  |  | $ | —  |  |  | $ | —  |  |
| (b) Tax benefit/(expense) related to foreign currency translation adjustments |  | $ | (5) |  |  | $ | 7  |  |  | $ | (2) |  |
| (c) Tax benefit related to net investment hedge of foreign operations |  | $ | —  |  |  | $ | —  |  |  | $ | 1  |  |
| (d) Tax benefit/(expense) related to pension adjustments |  | $ | (21) |  |  | $ | (14) |  |  | $ | 12  |  |

See accompanying notes to consolidated financial statements.  
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