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DEBT (Tables) | 6 Months Ended
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Dec. 31, 2020
Debt Disclosure [Abstract] |
Debt | The components of debt were as follows:
(In millions, issuance by calendar year) |  | Maturities (calendar year) |  | Stated Interest Rate |  |  | Effective Interest Rate |  |  | December 31, 2020 |  |  | June 30, 2020 |
2009 issuance of $3.8 billion (a) |  |  |  |  | 2039 |  |  |  |  | 5.20% |  |  |  |  | 5.24% |  |  | $ | 559 |  |  | $ | 559 |
2010 issuance of $4.8 billion (a) |  |  |  |  | 2040 |  |  |  |  | 4.50% |  |  |  |  | 4.57% |  |  |  | 571 |  |  |  | 1,571 |
2011 issuance of $2.3 billion (a) |  |  | 2021 | – | 2041 |  |  | 4.00% | – | 5.30% |  |  | 4.08% | – | 5.36% |  |  |  | 1,270 |  |  |  | 1,270 |
2012 issuance of $2.3 billion |  |  | 2022 | – | 2042 |  |  | 2.13% | – | 3.50% |  |  | 2.24% | – | 3.57% |  |  |  | 1,650 |  |  |  | 1,650 |
2013 issuance of $5.2 billion (a) |  |  | 2023 | – | 2043 |  |  | 2.38% | – | 4.88% |  |  | 2.47% | – | 4.92% |  |  |  | 2,919 |  |  |  | 2,919 |
2013 issuance of €4.1 billion |  |  | 2021 | – | 2033 |  |  | 2.13% | – | 3.13% |  |  | 2.23% | – | 3.22% |  |  |  | 4,955 |  |  |  | 4,549 |
2015 issuance of $23.8 billion (a) |  |  | 2022 | – | 2055 |  |  | 2.38% | – | 4.75% |  |  | 2.47% | – | 4.78% |  |  |  | 13,299 |  |  |  | 15,549 |
2016 issuance of $19.8 billion (a) |  |  | 2021 | – | 2056 |  |  | 1.55% | – | 3.95% |  |  | 1.64% | – | 4.03% |  |  |  | 16,955 |  |  |  | 16,955 |
2017 issuance of $17.0 billion (a) |  |  | 2022 | – | 2057 |  |  | 2.40% | – | 4.50% |  |  | 2.52% | – | 4.53% |  |  |  | 12,385 |  |  |  | 12,385 |
2020 issuance of $10.0 billion (a) |  |  | 2050 | – | 2060 |  |  | 2.53% | – | 2.68% |  |  | 2.53% | – | 2.68% |  |  |  | 10,000 |  |  |  | 10,000 |
Total face value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 64,563 |  |  |  | 67,407 |
Unamortized discount and issuance costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (533 | ) |  |  | (554 | )
Hedge fair value adjustments (b) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 77 |  |  |  | 93 |
Premium on debt exchange (a) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (3,584 | ) |  |  | (3,619 | )
Total debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 60,523 |  |  |  | 63,327 |
Current portion of long-term debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (5,387 | ) |  |  | (3,749 | )
Long-term debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 55,136 |  |  | $ | 59,578 |
(a) | In June 2020, we exchanged a portion of our existing debt at premium for cash and new debt with longer maturities. The premium is amortized over the term of the new debt.
(b) | Refer to Note 5 – Derivatives for further information on the interest rate swaps related to fixed-rate debt.
Maturities of Long-term Debt Including Current Portion | The following table outlines maturities of our long-term debt, including the current portion, as of December 31, 2020:
(In millions) |  |  |
Year Ending June 30, |  |  |  |
2021 (excluding the six months ended December 31, 2020) |  | $ | 500 |
2022 |  |  | 8,141 |
2023 |  |  | 2,750 |
2024 |  |  | 5,250 |
2025 |  |  | 2,250 |
Thereafter |  |  | 45,672 |
Total |  | $ | 64,563 |

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