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DEBT (Tables) | 9 Months Ended
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Mar. 31, 2022
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 |  |  | March 31, 2022 |  |  | June 30, 2021 |
2009 issuance of $3.8 billion (a) |  |  |  |  | 2039 |  |  |  |  | 5.20% |  |  |  |  | 5.24% |  |  | $ | 520 |  |  | $ | 520 |
2010 issuance of $4.8 billion (a) |  |  |  |  | 2040 |  |  |  |  | 4.50% |  |  |  |  | 4.57% |  |  |  | 486 |  |  |  | 486 |
2011 issuance of $2.3 billion (a) |  |  |  |  | 2041 |  |  |  |  | 5.30% |  |  |  |  | 5.36% |  |  |  | 718 |  |  |  | 718 |
2012 issuance of $2.3 billion (a) |  |  | 2022 | – | 2042 |  |  | 2.13% | – | 3.50% |  |  | 2.24% | – | 3.57% |  |  |  | 1,204 |  |  |  | 1,204 |
2013 issuance of $5.2 billion (a) |  |  | 2023 | – | 2043 |  |  | 2.38% | – | 4.88% |  |  | 2.47% | – | 4.92% |  |  |  | 2,814 |  |  |  | 2,814 |
2013 issuance of €4.1 billion |  |  | 2028 | – | 2033 |  |  | 2.63% | – | 3.13% |  |  | 2.69% | – | 3.22% |  |  |  | 2,559 |  |  |  | 4,803 |
2015 issuance of $23.8 billion (a) |  |  | 2022 | – | 2055 |  |  | 2.65% | – | 4.75% |  |  | 2.72% | – | 4.78% |  |  |  | 10,805 |  |  |  | 12,305 |
2016 issuance of $19.8 billion (a) |  |  | 2023 | – | 2056 |  |  | 2.00% | – | 3.95% |  |  | 2.10% | – | 4.03% |  |  |  | 9,430 |  |  |  | 12,180 |
2017 issuance of $17.0 billion (a) |  |  | 2024 | – | 2057 |  |  | 2.88% | – | 4.50% |  |  | 3.04% | – | 4.53% |  |  |  | 8,945 |  |  |  | 10,695 |
2020 issuance of $10.0 billion (a) |  |  | 2050 | – | 2060 |  |  | 2.53% | – | 2.68% |  |  | 2.53% | – | 2.68% |  |  |  | 10,000 |  |  |  | 10,000 |
2021 issuance of $8.2 billion (a) |  |  | 2052 | – | 2062 |  |  | 2.92% | – | 3.04% |  |  | 2.92% | – | 3.04% |  |  |  | 8,185 |  |  |  | 8,185 |
Total face value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 55,666 |  |  |  | 63,910 |
Unamortized discount and issuance costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (481 | ) |  |  | (511 | )
Hedge fair value adjustments (b) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (43 | ) |  |  | 40 |
Premium on debt exchange (a) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (5,216 | ) |  |  | (5,293 | )
Total debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 49,926 |  |  |  | 58,146 |
Current portion of long-term debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,749 | ) |  |  | (8,072 | )
Long-term debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 48,177 |  |  | $ | 50,074 |
(a) | In March 2021 and June 2020, we exchanged a portion of our existing debt at a premium for cash and new debt with longer maturities. The premiums are amortized over the terms 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 March 31, 2022:
(In millions) |  |  |
Year Ending June 30, |  |  |  |
2022 (excluding the nine months ended March 31, 2022) |  | $ | 0 |
2023 |  |  | 2,750 |
2024 |  |  | 5,250 |
2025 |  |  | 2,250 |
2026 |  |  | 3,000 |
Thereafter |  |  | 42,416 |
Total |  | $ | 55,666 |

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