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INVESTMENTS (Tables) | 9 Months Ended
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Mar. 31, 2022
Investments Debt And Equity Securities [Abstract] |
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, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Changes in Fair Value Recorded in Other Comprehensive Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper |  | Level 2 |  |  | $ | 883 |  |  | $ | 0 |  |  | $ | 0 |  |  | $ | 883 |  |  | $ | 802 |  |  | $ | 81 |  |  | $ | 0 |
Certificates of deposit |  | Level 2 |  |  |  | 3,045 |  |  |  | 0 |  |  |  | 0 |  |  |  | 3,045 |  |  |  | 3,003 |  |  |  | 42 |  |  |  | 0 |
U.S. government securities |  | Level 1 |  |  |  | 79,211 |  |  |  | 347 |  |  |  | (1,174 | ) |  |  | 78,384 |  |  |  | 3 |  |  |  | 78,381 |  |  |  | 0 |
U.S. agency securities |  | Level 2 |  |  |  | 417 |  |  |  | 0 |  |  |  | (6 | ) |  |  | 411 |  |  |  | 0 |  |  |  | 411 |  |  |  | 0 |
Foreign government bonds |  | Level 2 |  |  |  | 508 |  |  |  | 3 |  |  |  | (10 | ) |  |  | 501 |  |  |  | 0 |  |  |  | 501 |  |  |  | 0 |
Mortgage- and asset-backed securities |  | Level 2 |  |  |  | 602 |  |  |  | 2 |  |  |  | (14 | ) |  |  | 590 |  |  |  | 0 |  |  |  | 590 |  |  |  | 0 |
Corporate notes and bonds |  | Level 2 |  |  |  | 11,910 |  |  |  | 31 |  |  |  | (277 | ) |  |  | 11,664 |  |  |  | 0 |  |  |  | 11,664 |  |  |  | 0 |
Corporate notes and bonds |  | Level 3 |  |  |  | 45 |  |  |  | 0 |  |  |  | 0 |  |  |  | 45 |  |  |  | 0 |  |  |  | 45 |  |  |  | 0 |
Municipal securities |  | Level 2 |  |  |  | 324 |  |  |  | 34 |  |  |  | (7 | ) |  |  | 351 |  |  |  | 0 |  |  |  | 351 |  |  |  | 0 |
Municipal securities |  | Level 3 |  |  |  | 103 |  |  |  | 0 |  |  |  | (7 | ) |  |  | 96 |  |  |  | 0 |  |  |  | 96 |  |  |  | 0 |
Total debt investments |  |  |  |  | $ | 97,048 |  |  | $ | 417 |  |  | $ | (1,495 | ) |  | $ | 95,970 |  |  | $ | 3,808 |  |  | $ | 92,162 |  |  | $ | 0 |
Changes in Fair Value Recorded in Net Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity investments |  | Level 1 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 1,857 |  |  | $ | 1,234 |  |  | $ | 0 |  |  | $ | 623 |
Equity investments |  | Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 6,284 |  |  |  | 0 |  |  |  | 0 |  |  |  | 6,284 |
Total equity investments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 8,141 |  |  | $ | 1,234 |  |  | $ | 0 |  |  | $ | 6,907 |
Cash |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 7,456 |  |  | $ | 7,456 |  |  | $ | 0 |  |  | $ | 0 |
Derivatives, net (a) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 33 |  |  |  | 0 |  |  |  | 33 |  |  |  | 0 |
Total |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 111,600 |  |  | $ | 12,498 |  |  | $ | 92,195 |  |  | $ | 6,907 |
(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, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Changes in Fair Value Recorded in Other Comprehensive Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper |  | Level 2 |  |  | $ | 4,316 |  |  | $ | 0 |  |  | $ | 0 |  |  | $ | 4,316 |  |  | $ | 1,331 |  |  | $ | 2,985 |  |  | $ | 0 |
Certificates of deposit |  | Level 2 |  |  |  | 3,615 |  |  |  | 0 |  |  |  | 0 |  |  |  | 3,615 |  |  |  | 2,920 |  |  |  | 695 |  |  |  | 0 |
U.S. government securities |  | Level 1 |  |  |  | 90,664 |  |  |  | 3,832 |  |  |  | (111 | ) |  |  | 94,385 |  |  |  | 1,500 |  |  |  | 92,885 |  |  |  | 0 |
U.S. agency securities |  | Level 2 |  |  |  | 807 |  |  |  | 2 |  |  |  | 0 |  |  |  | 809 |  |  |  | 0 |  |  |  | 809 |  |  |  | 0 |
Foreign government bonds |  | Level 2 |  |  |  | 6,213 |  |  |  | 9 |  |  |  | (2 | ) |  |  | 6,220 |  |  |  | 225 |  |  |  | 5,995 |  |  |  | 0 |
Mortgage- and asset-backed securities |  | Level 2 |  |  |  | 3,442 |  |  |  | 22 |  |  |  | (6 | ) |  |  | 3,458 |  |  |  | 0 |  |  |  | 3,458 |  |  |  | 0 |
Corporate notes and bonds |  | Level 2 |  |  |  | 8,443 |  |  |  | 249 |  |  |  | (9 | ) |  |  | 8,683 |  |  |  | 0 |  |  |  | 8,683 |  |  |  | 0 |
Corporate notes and bonds |  | Level 3 |  |  |  | 63 |  |  |  | 0 |  |  |  | 0 |  |  |  | 63 |  |  |  | 0 |  |  |  | 63 |  |  |  | 0 |
Municipal securities |  | Level 2 |  |  |  | 308 |  |  |  | 63 |  |  |  | 0 |  |  |  | 371 |  |  |  | 0 |  |  |  | 371 |  |  |  | 0 |
Municipal securities |  | Level 3 |  |  |  | 95 |  |  |  | 0 |  |  |  | (7 | ) |  |  | 88 |  |  |  | 0 |  |  |  | 88 |  |  |  | 0 |
Total debt investments |  |  |  |  | $ | 117,966 |  |  | $ | 4,177 |  |  | $ | (135 | ) |  | $ | 122,008 |  |  | $ | 5,976 |  |  | $ | 116,032 |  |  | $ | 0 |
Changes in Fair Value Recorded in Net Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity investments |  | Level 1 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 1,582 |  |  | $ | 976 |  |  | $ | 0 |  |  | $ | 606 |
Equity investments |  | Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 5,378 |  |  |  | 0 |  |  |  | 0 |  |  |  | 5,378 |
Total equity investments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 6,960 |  |  | $ | 976 |  |  | $ | 0 |  |  | $ | 5,984 |
Cash |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 7,272 |  |  | $ | 7,272 |  |  | $ | 0 |  |  | $ | 0 |
Derivatives, net (a) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 78 |  |  |  | 0 |  |  |  | 78 |  |  |  | 0 |
Total |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 136,318 |  |  | $ | 14,224 |  |  | $ | 116,110 |  |  | $ | 5,984 |
(a) | Refer to Note 5 – Derivatives for further information on the fair value of our derivative instruments.
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, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government and agency securities |  | $ | 35,798 |  |  | $ | (918 | ) |  | $ | 2,308 |  |  | $ | (262 | ) |  | $ | 38,106 |  |  | $ | (1,180 | )
Foreign government bonds |  |  | 419 |  |  |  | (6 | ) |  |  | 30 |  |  |  | (4 | ) |  |  | 449 |  |  |  | (10 | )
Mortgage- and asset-backed securities |  |  | 450 |  |  |  | (13 | ) |  |  | 33 |  |  |  | (1 | ) |  |  | 483 |  |  |  | (14 | )
Corporate notes and bonds |  |  | 8,133 |  |  |  | (241 | ) |  |  | 461 |  |  |  | (36 | ) |  |  | 8,594 |  |  |  | (277 | )
Municipal securities |  |  | 125 |  |  |  | (7 | ) |  |  | 57 |  |  |  | (7 | ) |  |  | 182 |  |  |  | (14 | )
Total |  | $ | 44,925 |  |  | $ | (1,185 | ) |  | $ | 2,889 |  |  | $ | (310 | ) |  | $ | 47,814 |  |  | $ | (1,495 | )
|  | 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, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government and agency securities |  | $ | 5,294 |  |  | $ | (111 | ) |  | $ | 0 |  |  | $ | 0 |  |  | $ | 5,294 |  |  | $ | (111 | )
Foreign government bonds |  |  | 3,148 |  |  |  | (1 | ) |  |  | 5 |  |  |  | (1 | ) |  |  | 3,153 |  |  |  | (2 | )
Mortgage- and asset-backed securities |  |  | 1,211 |  |  |  | (5 | ) |  |  | 87 |  |  |  | (1 | ) |  |  | 1,298 |  |  |  | (6 | )
Corporate notes and bonds |  |  | 1,678 |  |  |  | (8 | ) |  |  | 34 |  |  |  | (1 | ) |  |  | 1,712 |  |  |  | (9 | )
Municipal securities |  |  | 58 |  |  |  | (7 | ) |  |  | 1 |  |  |  | 0 |  |  |  | 59 |  |  |  | (7 | )
Total |  | $ | 11,389 |  |  | $ | (132 | ) |  | $ | 127 |  |  | $ | (3 | ) |  | $ | 11,516 |  |  | $ | (135 | )
Debt Investment Maturities | Debt Investment Maturities
(In millions) |  | Adjusted Cost Basis |  |  | Estimated Fair Value |
March 31, 2022 |  |  |  |  |  |  |  |
Due in one year or less |  | $ | 20,401 |  |  | $ | 20,496 |
Due after one year through five years |  |  | 56,463 |  |  |  | 56,076 |
Due after five years through 10 years |  |  | 18,807 |  |  |  | 18,049 |
Due after 10 years |  |  | 1,377 |  |  |  | 1,349 |
Total |  | $ | 97,048 |  |  | $ | 95,970 |

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