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Fair Value Measurements (Tables) | 3 Months Ended
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Sep. 30, 2017
Fair Value Disclosures [Abstract] |
Fair Value, Assets and Liabilities Measured on Recurring Basis | The following tables present the fair values for assets and (liabilities) measured on a recurring basis at:
| September 30, 2017
(in millions) | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |  |  |  |  |  |  |
Cash equivalents | $ | 1,162 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,162 |
Available-for-sale securities (2) | — |  |  | — |  |  | — |  |  | — |
Other investments (3) | 116 |  |  | — |  |  | — |  |  | 116 |
Liabilities: |  |  |  |  |  |  |
Forward contracts (1) | — |  |  | (21 | ) |  | — |  |  | (21 | )
Contingent consideration (4) | — |  |  | — |  |  | (23 | ) |  | (23 | )
| June 30, 2017
(in millions) | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |  |  |  |  |  |  |
Cash equivalents | $ | 739 |  |  | $ | — |  |  | $ | — |  |  | $ | 739 |
Available-for-sale securities (2) | — |  |  | 65 |  |  | — |  |  | 65 |
Other investments (3) | 116 |  |  | — |  |  | — |  |  | 116 |
Liabilities: |  |  |  |  |  |  |
Forward contracts (1) | — |  |  | (21 | ) |  | — |  |  | (21 | )
Contingent consideration (4) | — |  |  | — |  |  | (32 | ) |  | (32 | )
(1) | The fair value of interest rate swaps, foreign currency contracts and commodity contracts is determined based on the present value of expected future cash flows considering the risks involved, including non-performance risk, and using discount rates appropriate for the respective maturities. Observable Level 2 inputs are used to determine the present value of expected future cash flows. The fair value of these derivative contracts, which are subject to master netting arrangements under certain circumstances, is presented on a gross basis in the condensed consolidated balance sheets.
(2) | We invest in marketable securities, which are classified as available-for-sale and are carried at fair value in the condensed consolidated balance sheets. Observable Level 2 inputs such as quoted prices for similar securities, interest rate spreads, yield curves and credit risk are used to determine the fair value. See Note 5 for additional information regarding available-for-sale securities.
(3) | The other investments balance includes investments in mutual funds, which are used to offset fluctuations in deferred compensation liabilities. These mutual funds primarily invest in the equity securities of companies with large market capitalization and high quality fixed income debt securities. The fair value of these investments is determined using quoted market prices.
(4) | Contingent consideration represents the obligations incurred in connection with acquisitions. We do not deem the fair value of the contingent consideration obligations under any single acquisition to be significant. The estimate of fair value of the contingent consideration obligations requires subjective assumptions to be made regarding future business results, discount rates, discount periods, and probabilities assigned to various potential business result scenarios and was determined using probability assessments with respect to the likelihood of reaching various targets or of achieving certain milestones. The fair value measurement is based on significant inputs unobservable in the market and thus represents a Level 3 measurement. Changes in current expectations of progress could change the probability of achieving the targets within the measurement periods and result in an increase or decrease in the fair value of the contingent consideration obligation.
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation | The following table presents those liabilities measured at fair value on a recurring basis using unobservable inputs (Level 3):
(in millions) | Contingent Consideration Obligation
Balance at June 30, 2017 | $ | 32 |
Additions from acquisitions | 5 |
Changes in fair value of contingent consideration (1) | — |
Payment of contingent consideration | (15 | )
Balance at September 30, 2017 | $ | 23 |
The sum of the components may not equal the total due to rounding.
(1) | Amount is included in amortization and other acquisition-related costs in the condensed consolidated statements of earnings.

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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19279-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 + Details
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