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v3.25.1

DEBT | 9 Months Ended
--- | ---
Mar. 31, 2025
Debt Disclosure [Abstract] |
DEBT | NOTE 10 — DEBT Short-term Debt As of March 31, 2025, we had no commercial paper issued or outstanding. As of June 30, 2024, we had $6.7 billion of commercial paper issued and outstanding, with a weighted average interest rate of 5.4% and maturities ranging from 28 days to 152 days. The estimated fair value of this commercial paper approximates its carrying value. Long-term Debt The components of long-term debt were as follows:
(In millions, issuance by calendar year) |  | Maturities (calendar year) |  | Stated Interest Rate |  |  | Effective Interest Rate |  |  | March 31, 2025 |  |  | June 30, 2024 |
2009 issuance of $3.8 billion |  |  |  |  | 2039 |  |  |  |  | 5.20% |  |  |  |  | 5.24% |  |  | $ | 520 |  |  | $ | 520 |
2010 issuance of $4.8 billion |  |  |  |  | 2040 |  |  |  |  | 4.50% |  |  |  |  | 4.57% |  |  |  | 486 |  |  |  | 486 |
2011 issuance of $2.3 billion |  |  |  |  | 2041 |  |  |  |  | 5.30% |  |  |  |  | 5.36% |  |  |  | 718 |  |  |  | 718 |
2012 issuance of $2.3 billion |  |  |  |  | 2042 |  |  |  |  | 3.50% |  |  |  |  | 3.57% |  |  |  | 454 |  |  |  | 454 |
2013 issuance of $5.2 billion |  |  |  |  | 2043 |  |  | 3.75% | – | 4.88% |  |  | 3.83% | – | 4.92% |  |  |  | 314 |  |  |  | 314 |
2013 issuance of €4.1 billion |  |  | 2028 | – | 2033 |  |  | 2.63% | – | 3.13% |  |  | 2.69% | – | 3.22% |  |  |  | 2,484 |  |  |  | 2,465 |
2015 issuance of $23.8 billion |  |  | 2025 | – | 2055 |  |  | 3.13% | – | 4.75% |  |  | 3.18% | – | 4.78% |  |  |  | 7,555 |  |  |  | 9,805 |
2016 issuance of $19.8 billion |  |  | 2026 | – | 2056 |  |  | 2.40% | – | 3.95% |  |  | 2.46% | – | 4.03% |  |  |  | 7,930 |  |  |  | 7,930 |
2017 issuance of $17.1 billion |  |  | 2026 | – | 2057 |  |  | 3.30% | – | 4.50% |  |  | 3.38% | – | 5.49% |  |  |  | 6,833 |  |  |  | 6,833 |
2020 issuance of $10.1 billion |  |  | 2030 | – | 2060 |  |  | 1.35% | – | 2.68% |  |  | 2.53% | – | 5.43% |  |  |  | 10,111 |  |  |  | 10,111 |
2021 issuance of $8.2 billion |  |  | 2052 | – | 2062 |  |  | 2.92% | – | 3.04% |  |  | 2.92% | – | 3.04% |  |  |  | 8,185 |  |  |  | 8,185 |
2023 issuance of $0.1 billion |  |  | 2026 | – | 2050 |  |  | 1.35% | – | 4.50% |  |  | 5.16% | – | 5.49% |  |  |  | 56 |  |  |  | 56 |
2024 issuance of $3.3 billion |  |  | 2026 | – | 2050 |  |  | 1.35% | – | 4.50% |  |  | 5.16% | – | 5.49% |  |  |  | 3,344 |  |  |  | 3,344 |
Total face value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 48,990 |  |  |  | 51,221 |
Unamortized discount and issuance costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,171 | ) |  |  | (1,227 | )
Hedge fair value adjustments (a) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (45 | ) |  |  | (81 | )
Premium on debt exchange |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (4,893 | ) |  |  | (4,976 | )
Total debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 42,881 |  |  |  | 44,937 |
Current portion of long-term debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (2,999 | ) |  |  | (2,249 | )
Long-term debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 39,882 |  |  | $ | 42,688 |
(a) Refer to Note 5 – Derivatives for further information on the interest rate swaps related to fixed-rate debt. As of March 31, 2025 and June 30, 2024, the estimated fair value of long-term debt, including the current portion, was $40.2 billion and $42.3 billion, respectively. The estimated fair values are based on Level 2 inputs. Debt in the table above is comprised of senior unsecured obligations and ranks equally with our other outstanding obligations. Interest is paid semi-annually, except for the Euro-denominated debt, which is paid annually. The following table outlines maturities of our long-term debt, including the current portion, as of March 31, 2025:
(In millions) |  |  |
Year Ending June 30, |  |  |  |
2025 (excluding the nine months ended March 31, 2025) |  | $ | 0 |
2026 |  |  | 3,000 |
2027 |  |  | 9,250 |
2028 |  |  | 0 |
2029 |  |  | 1,890 |
Thereafter |  |  | 34,850 |
Total |  | $ | 48,990 |

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