XML 23 R11.htm IDEA: XBRL DOCUMENT
v3.21.1

INVESTMENTS | 9 Months Ended
--- | ---
Mar. 31, 2021
Investments Debt And Equity Securities [Abstract] |
INVESTMENTS | NOTE 4 — INVESTMENTS Investment Components The components of investments were as follows:
(In millions) |  | Fair Value Level |  |  | Adjusted Cost Basis |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Recorded Basis |  |  | Cash and Cash Equivalents |  |  | Short-term Investments |  |  | Equity Investments |
March 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Changes in Fair Value Recorded in Other Comprehensive Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper |  | Level 2 |  |  | $ | 4,435 |  |  | $ | 0 |  |  | $ | 0 |  |  | $ | 4,435 |  |  | $ | 2,314 |  |  | $ | 2,121 |  |  | $ | 0 |
Certificates of deposit |  | Level 2 |  |  |  | 3,000 |  |  |  | 0 |  |  |  | 0 |  |  |  | 3,000 |  |  |  | 2,402 |  |  |  | 598 |  |  |  | 0 |
U.S. government securities |  | Level 1 |  |  |  | 86,198 |  |  |  | 3,789 |  |  |  | (223 | ) |  |  | 89,764 |  |  |  | 2 |  |  |  | 89,762 |  |  |  | 0 |
U.S. agency securities |  | Level 2 |  |  |  | 907 |  |  |  | 2 |  |  |  | 0 |  |  |  | 909 |  |  |  | 0 |  |  |  | 909 |  |  |  | 0 |
Foreign government bonds |  | Level 2 |  |  |  | 6,756 |  |  |  | 7 |  |  |  | (3 | ) |  |  | 6,760 |  |  |  | 1,720 |  |  |  | 5,040 |  |  |  | 0 |
Mortgage- and asset-backed securities |  | Level 2 |  |  |  | 3,882 |  |  |  | 23 |  |  |  | (10 | ) |  |  | 3,895 |  |  |  | 0 |  |  |  | 3,895 |  |  |  | 0 |
Corporate notes and bonds |  | Level 2 |  |  |  | 8,262 |  |  |  | 251 |  |  |  | (17 | ) |  |  | 8,496 |  |  |  | 0 |  |  |  | 8,496 |  |  |  | 0 |
Corporate notes and bonds |  | Level 3 |  |  |  | 62 |  |  |  | 0 |  |  |  | 0 |  |  |  | 62 |  |  |  | 0 |  |  |  | 62 |  |  |  | 0 |
Municipal securities |  | Level 2 |  |  |  | 286 |  |  |  | 54 |  |  |  | 0 |  |  |  | 340 |  |  |  | 0 |  |  |  | 340 |  |  |  | 0 |
Municipal securities |  | Level 3 |  |  |  | 95 |  |  |  | 0 |  |  |  | (7 | ) |  |  | 88 |  |  |  | 0 |  |  |  | 88 |  |  |  | 0 |
Total debt investments |  |  |  |  | $ | 113,883 |  |  | $ | 4,126 |  |  | $ | (260 | ) |  | $ | 117,749 |  |  | $ | 6,438 |  |  | $ | 111,311 |  |  | $ | 0 |
Changes in Fair Value Recorded in Net Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity investments |  | Level 1 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 1,592 |  |  | $ | 950 |  |  | $ | 0 |  |  | $ | 642 |
Equity investments |  | Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,753 |  |  |  | 0 |  |  |  | 0 |  |  |  | 4,753 |
Total equity investments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 6,345 |  |  | $ | 950 |  |  | $ | 0 |  |  | $ | 5,395 |
Cash |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 6,314 |  |  | $ | 6,314 |  |  | $ | 0 |  |  | $ | 0 |
Derivatives, net (a) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 394 |  |  |  | 0 |  |  |  | 394 |  |  |  | 0 |
Total |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 130,802 |  |  | $ | 13,702 |  |  | $ | 111,705 |  |  | $ | 5,395 |
(In millions) |  | Fair Value Level |  |  | Adjusted Cost Basis |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Recorded Basis |  |  | Cash and Cash Equivalents |  |  | Short-term Investments |  |  | Equity Investments |
June 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Changes in Fair Value Recorded in Other Comprehensive Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper |  | Level 2 |  |  | $ | 4,687 |  |  | $ | 1 |  |  | $ | 0 |  |  | $ | 4,688 |  |  | $ | 1,618 |  |  | $ | 3,070 |  |  | $ | 0 |
Certificates of deposit |  | Level 2 |  |  |  | 2,898 |  |  |  | 0 |  |  |  | 0 |  |  |  | 2,898 |  |  |  | 1,646 |  |  |  | 1,252 |  |  |  | 0 |
U.S. government securities |  | Level 1 |  |  |  | 92,067 |  |  |  | 6,495 |  |  |  | (1 | ) |  |  | 98,561 |  |  |  | 3,168 |  |  |  | 95,393 |  |  |  | 0 |
U.S. agency securities |  | Level 2 |  |  |  | 2,439 |  |  |  | 2 |  |  |  | 0 |  |  |  | 2,441 |  |  |  | 449 |  |  |  | 1,992 |  |  |  | 0 |
Foreign government bonds |  | Level 2 |  |  |  | 6,982 |  |  |  | 6 |  |  |  | (3 | ) |  |  | 6,985 |  |  |  | 1 |  |  |  | 6,984 |  |  |  | 0 |
Mortgage- and asset-backed securities |  | Level 2 |  |  |  | 4,865 |  |  |  | 41 |  |  |  | (6 | ) |  |  | 4,900 |  |  |  | 0 |  |  |  | 4,900 |  |  |  | 0 |
Corporate notes and bonds |  | Level 2 |  |  |  | 8,500 |  |  |  | 327 |  |  |  | (17 | ) |  |  | 8,810 |  |  |  | 0 |  |  |  | 8,810 |  |  |  | 0 |
Corporate notes and bonds |  | Level 3 |  |  |  | 58 |  |  |  | 0 |  |  |  | 0 |  |  |  | 58 |  |  |  | 0 |  |  |  | 58 |  |  |  | 0 |
Municipal securities |  | Level 2 |  |  |  | 313 |  |  |  | 57 |  |  |  | (4 | ) |  |  | 366 |  |  |  | 0 |  |  |  | 366 |  |  |  | 0 |
Municipal securities |  | Level 3 |  |  |  | 91 |  |  |  | 0 |  |  |  | 0 |  |  |  | 91 |  |  |  | 0 |  |  |  | 91 |  |  |  | 0 |
Total debt investments |  |  |  |  | $ | 122,900 |  |  | $ | 6,929 |  |  | $ | (31 | ) |  | $ | 129,798 |  |  | $ | 6,882 |  |  | $ | 122,916 |  |  | $ | 0 |
Changes in Fair Value Recorded in Net Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity investments |  | Level 1 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 1,198 |  |  | $ | 784 |  |  | $ | 0 |  |  | $ | 414 |
Equity investments |  | Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,551 |  |  |  | 0 |  |  |  | 0 |  |  |  | 2,551 |
Total equity investments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 3,749 |  |  | $ | 784 |  |  | $ | 0 |  |  | $ | 2,965 |
Cash |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 5,910 |  |  | $ | 5,910 |  |  | $ | 0 |  |  | $ | 0 |
Derivatives, net (a) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 35 |  |  |  | 0 |  |  |  | 35 |  |  |  | 0 |
Total |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 139,492 |  |  | $ | 13,576 |  |  | $ | 122,951 |  |  | $ | 2,965 |
(a) | Refer to Note 5 – Derivatives for further information on the fair value of our derivative instruments.
Equity investments presented as “Other” in the tables above include investments without readily determinable fair values measured using the equity method or measured at cost with adjustments for observable changes in price or impairments, and investments measured at fair value using net asset value as a practical expedient which are not categorized in the fair value hierarchy. As of March 31, 2021 and June 30, 2020, equity investments without readily determinable fair values measured at cost with adjustments for observable changes in price or impairments were $2.9 billion and $1.4 billion, respectively. Unrealized Losses on Debt Investments Debt investments with continuous unrealized losses for less than 12 months and 12 months or greater and their related fair values were as follows:
|  | Less than 12 Months |  |  | 12 Months or Greater |  |  |  |  |  |  |  | Total Unrealized Losses |
(In millions) |  |  | Fair Value |  |  |  | Unrealized Losses |  |  |  | Fair Value |  |  |  | Unrealized Losses |  |  |  | Total Fair Value |  |  |  |
March 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government and agency securities |  | $ | 6,755 |  |  | $ | (223 | ) |  | $ | 0 |  |  | $ | 0 |  |  | $ | 6,755 |  |  | $ | (223 | )
Foreign government bonds |  |  | 1,429 |  |  |  | (3 | ) |  |  | 0 |  |  |  | 0 |  |  |  | 1,429 |  |  |  | (3 | )
Mortgage- and asset-backed securities |  |  | 1,377 |  |  |  | (10 | ) |  |  | 0 |  |  |  | 0 |  |  |  | 1,377 |  |  |  | (10 | )
Corporate notes and bonds |  |  | 1,473 |  |  |  | (17 | ) |  |  | 0 |  |  |  | 0 |  |  |  | 1,473 |  |  |  | (17 | )
Municipal securities |  |  | 90 |  |  |  | (7 | ) |  |  | 0 |  |  |  | 0 |  |  |  | 90 |  |  |  | (7 | )
Total |  | $ | 11,124 |  |  | $ | (260 | ) |  | $ | 0 |  |  | $ | 0 |  |  | $ | 11,124 |  |  | $ | (260 | )
|  | Less than 12 Months |  |  | 12 Months or Greater |  |  |  |  |  |  |  | Total Unrealized Losses |
(In millions) |  |  | Fair Value |  |  |  | Unrealized Losses |  |  |  | Fair Value |  |  |  | Unrealized Losses |  |  |  | Total Fair Value |  |  |  |
June 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government and agency securities |  | $ | 2,323 |  |  | $ | (1 | ) |  | $ | 0 |  |  | $ | 0 |  |  | $ | 2,323 |  |  | $ | (1 | )
Foreign government bonds |  |  | 500 |  |  |  | (3 | ) |  |  | 0 |  |  |  | 0 |  |  |  | 500 |  |  |  | (3 | )
Mortgage- and asset-backed securities |  |  | 1,014 |  |  |  | (6 | ) |  |  | 0 |  |  |  | 0 |  |  |  | 1,014 |  |  |  | (6 | )
Corporate notes and bonds |  |  | 649 |  |  |  | (17 | ) |  |  | 0 |  |  |  | 0 |  |  |  | 649 |  |  |  | (17 | )
Municipal securities |  |  | 66 |  |  |  | (4 | ) |  |  | 0 |  |  |  | 0 |  |  |  | 66 |  |  |  | (4 | )
Total |  | $ | 4,552 |  |  | $ | (31 | ) |  | $ | 0 |  |  | $ | 0 |  |  | $ | 4,552 |  |  | $ | (31 | )
Unrealized losses from fixed-income securities are primarily attributable to changes in interest rates. Management does not believe any remaining unrealized losses represent impairments based on our evaluation of available evidence. Debt Investment Maturities
(In millions) |  | Adjusted Cost Basis |  |  | Estimated Fair Value |
March 31, 2021 |  |  |  |  |  |  |  |
Due in one year or less |  | $ | 17,466 |  |  | $ | 17,496 |
Due after one year through five years |  |  | 65,306 |  |  |  | 68,168 |
Due after five years through 10 years |  |  | 28,540 |  |  |  | 29,478 |
Due after 10 years |  |  | 2,571 |  |  |  | 2,607 |
Total |  | $ | 113,883 |  |  | $ | 117,749 |

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for cash, cash equivalents, investments in debt and equity instruments (including cost and equity investees and related income statement amounts), equity and cost method investments, investments in joint ventures and any other investment. + References No definition available. + Details
Name: | us-gaap_InvestmentsInDebtAndEquityInstrumentsCashAndCashEquivalentsUnrealizedAndRealizedGainsLossesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration