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v3.22.2.2

INVESTMENTS (Tables) | 3 Months Ended
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Sep. 30, 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 |
September 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Changes in Fair Value Recorded in Other Comprehensive Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper |  | Level 2 |  |  | $ | 6,286 |  |  | $ | 2 |  |  | $ | 0 |  |  | $ | 6,288 |  |  | $ | 5,662 |  |  | $ | 626 |  |  | $ | 0 |
Certificates of deposit |  | Level 2 |  |  |  | 2,570 |  |  |  | 0 |  |  |  | 0 |  |  |  | 2,570 |  |  |  | 2,531 |  |  |  | 39 |  |  |  | 0 |
U.S. government securities |  | Level 1 |  |  |  | 76,079 |  |  |  | 7 |  |  |  | (4,232 | ) |  |  | 71,854 |  |  |  | 1,955 |  |  |  | 69,899 |  |  |  | 0 |
U.S. agency securities |  | Level 2 |  |  |  | 5,815 |  |  |  | 5 |  |  |  | (9 | ) |  |  | 5,811 |  |  |  | 4,352 |  |  |  | 1,459 |  |  |  | 0 |
Foreign government bonds |  | Level 2 |  |  |  | 493 |  |  |  | 0 |  |  |  | (36 | ) |  |  | 457 |  |  |  | 0 |  |  |  | 457 |  |  |  | 0 |
Mortgage- and asset-backed securities |  | Level 2 |  |  |  | 845 |  |  |  | 0 |  |  |  | (45 | ) |  |  | 800 |  |  |  | 0 |  |  |  | 800 |  |  |  | 0 |
Corporate notes and bonds |  | Level 2 |  |  |  | 11,373 |  |  |  | 1 |  |  |  | (825 | ) |  |  | 10,549 |  |  |  | 0 |  |  |  | 10,549 |  |  |  | 0 |
Corporate notes and bonds |  | Level 3 |  |  |  | 76 |  |  |  | 0 |  |  |  | 0 |  |  |  | 76 |  |  |  | 0 |  |  |  | 76 |  |  |  | 0 |
Municipal securities |  | Level 2 |  |  |  | 372 |  |  |  | 8 |  |  |  | (22 | ) |  |  | 358 |  |  |  | 0 |  |  |  | 358 |  |  |  | 0 |
Municipal securities |  | Level 3 |  |  |  | 104 |  |  |  | 0 |  |  |  | (7 | ) |  |  | 97 |  |  |  | 0 |  |  |  | 97 |  |  |  | 0 |
Total debt investments |  |  |  |  | $ | 104,013 |  |  | $ | 23 |  |  | $ | (5,176 | ) |  | $ | 98,860 |  |  | $ | 14,500 |  |  | $ | 84,360 |  |  | $ | 0 |
Changes in Fair Value Recorded in Net Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity investments |  | Level 1 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 1,616 |  |  | $ | 1,147 |  |  | $ | 0 |  |  | $ | 469 |
Equity investments |  | Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 6,370 |  |  |  | 0 |  |  |  | 0 |  |  |  | 6,370 |
Total equity investments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 7,986 |  |  | $ | 1,147 |  |  | $ | 0 |  |  | $ | 6,839 |
Cash |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 7,237 |  |  | $ | 7,237 |  |  | $ | 0 |  |  | $ | 0 |
Derivatives, net (a) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 18 |  |  |  | 0 |  |  |  | 18 |  |  |  | 0 |
Total |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 114,101 |  |  | $ | 22,884 |  |  | $ | 84,378 |  |  | $ | 6,839 |
(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, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Changes in Fair Value Recorded in Other Comprehensive Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper |  | Level 2 |  |  | $ | 2,500 |  |  | $ | 0 |  |  | $ | 0 |  |  | $ | 2,500 |  |  | $ | 2,498 |  |  | $ | 2 |  |  | $ | 0 |
Certificates of deposit |  | Level 2 |  |  |  | 2,071 |  |  |  | 0 |  |  |  | 0 |  |  |  | 2,071 |  |  |  | 2,032 |  |  |  | 39 |  |  |  | 0 |
U.S. government securities |  | Level 1 |  |  |  | 79,696 |  |  |  | 29 |  |  |  | (2,178 | ) |  |  | 77,547 |  |  |  | 9 |  |  |  | 77,538 |  |  |  | 0 |
U.S. agency securities |  | Level 2 |  |  |  | 419 |  |  |  | 0 |  |  |  | (9 | ) |  |  | 410 |  |  |  | 0 |  |  |  | 410 |  |  |  | 0 |
Foreign government bonds |  | Level 2 |  |  |  | 506 |  |  |  | 0 |  |  |  | (24 | ) |  |  | 482 |  |  |  | 0 |  |  |  | 482 |  |  |  | 0 |
Mortgage- and asset-backed securities |  | Level 2 |  |  |  | 727 |  |  |  | 1 |  |  |  | (30 | ) |  |  | 698 |  |  |  | 0 |  |  |  | 698 |  |  |  | 0 |
Corporate notes and bonds |  | Level 2 |  |  |  | 11,661 |  |  |  | 4 |  |  |  | (554 | ) |  |  | 11,111 |  |  |  | 0 |  |  |  | 11,111 |  |  |  | 0 |
Corporate notes and bonds |  | Level 3 |  |  |  | 67 |  |  |  | 0 |  |  |  | 0 |  |  |  | 67 |  |  |  | 0 |  |  |  | 67 |  |  |  | 0 |
Municipal securities |  | Level 2 |  |  |  | 368 |  |  |  | 19 |  |  |  | (13 | ) |  |  | 374 |  |  |  | 0 |  |  |  | 374 |  |  |  | 0 |
Municipal securities |  | Level 3 |  |  |  | 103 |  |  |  | 0 |  |  |  | (6 | ) |  |  | 97 |  |  |  | 0 |  |  |  | 97 |  |  |  | 0 |
Total debt investments |  |  |  |  | $ | 98,118 |  |  | $ | 53 |  |  | $ | (2,814 | ) |  | $ | 95,357 |  |  | $ | 4,539 |  |  | $ | 90,818 |  |  | $ | 0 |
Changes in Fair Value Recorded in Net Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity investments |  | Level 1 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 1,590 |  |  | $ | 1,134 |  |  | $ | 0 |  |  | $ | 456 |
Equity investments |  | Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 6,435 |  |  |  | 0 |  |  |  | 0 |  |  |  | 6,435 |
Total equity investments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 8,025 |  |  | $ | 1,134 |  |  | $ | 0 |  |  | $ | 6,891 |
Cash |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 8,258 |  |  | $ | 8,258 |  |  | $ | 0 |  |  | $ | 0 |
Derivatives, net (a) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8 |  |  |  | 0 |  |  |  | 8 |  |  |  | 0 |
Total |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 111,648 |  |  | $ | 13,931 |  |  | $ | 90,826 |  |  | $ | 6,891 |
(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 |  |  |  |
September 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government and agency securities |  | $ | 61,761 |  |  | $ | (3,411 | ) |  | $ | 4,233 |  |  | $ | (830 | ) |  | $ | 65,994 |  |  | $ | (4,241 | )
Foreign government bonds |  |  | 392 |  |  |  | (22 | ) |  |  | 64 |  |  |  | (14 | ) |  |  | 456 |  |  |  | (36 | )
Mortgage- and asset-backed securities |  |  | 434 |  |  |  | (27 | ) |  |  | 130 |  |  |  | (18 | ) |  |  | 564 |  |  |  | (45 | )
Corporate notes and bonds |  |  | 8,258 |  |  |  | (554 | ) |  |  | 2,178 |  |  |  | (271 | ) |  |  | 10,436 |  |  |  | (825 | )
Municipal securities |  |  | 190 |  |  |  | (22 | ) |  |  | 74 |  |  |  | (7 | ) |  |  | 264 |  |  |  | (29 | )
Total |  | $ | 71,035 |  |  | $ | (4,036 | ) |  | $ | 6,679 |  |  | $ | (1,140 | ) |  | $ | 77,714 |  |  | $ | (5,176 | )
|  | 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, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government and agency securities |  | $ | 59,092 |  |  | $ | (1,835 | ) |  | $ | 2,210 |  |  | $ | (352 | ) |  | $ | 61,302 |  |  | $ | (2,187 | )
Foreign government bonds |  |  | 418 |  |  |  | (18 | ) |  |  | 27 |  |  |  | (6 | ) |  |  | 445 |  |  |  | (24 | )
Mortgage- and asset-backed securities |  |  | 510 |  |  |  | (26 | ) |  |  | 41 |  |  |  | (4 | ) |  |  | 551 |  |  |  | (30 | )
Corporate notes and bonds |  |  | 9,443 |  |  |  | (477 | ) |  |  | 786 |  |  |  | (77 | ) |  |  | 10,229 |  |  |  | (554 | )
Municipal securities |  |  | 178 |  |  |  | (12 | ) |  |  | 74 |  |  |  | (7 | ) |  |  | 252 |  |  |  | (19 | )
Total |  | $ | 69,641 |  |  | $ | (2,368 | ) |  | $ | 3,138 |  |  | $ | (446 | ) |  | $ | 72,779 |  |  | $ | (2,814 | )
Debt Investment Maturities | Debt Investment Maturities
(In millions) |  | Adjusted Cost Basis |  |  | Estimated Fair Value |
September 30, 2022 |  |  |  |  |  |  |  |
Due in one year or less |  | $ | 35,526 |  |  | $ | 35,416 |
Due after one year through five years |  |  | 50,062 |  |  |  | 47,328 |
Due after five years through 10 years |  |  | 17,070 |  |  |  | 14,925 |
Due after 10 years |  |  | 1,355 |  |  |  | 1,191 |
Total |  | $ | 104,013 |  |  | $ | 98,860 |

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