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FAIR VALUE MEASUREMENTS (Tables) | 6 Months Ended
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Dec. 31, 2019
FAIR VALUE MEASUREMENTS |
Schedule of financial assets and liabilities measured at fair value on a recurring basis | ​ ​ The following table presents the Company’s hierarchy for its financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2019: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(In millions) |  | Level 1 |  | Level 2 |  | Level 3 |  | Total | ​
Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Foreign currency forward contracts |  | $ | — |  | $ | 47 |  | $ | — |  | $ | 47 | ​
Interest rate-related derivatives | ​ | ​ | — | ​ | ​ | 3 | ​ | ​ | — | ​ | ​ | 3 | ​
Total |  | $ | — |  | $ | 50 |  | $ | — |  | $ | 50 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Foreign currency forward contracts | ​ | $ | — | ​ | $ | 31 | ​ | $ | — | ​ | $ | 31 | ​
Interest rate-related derivatives | ​ | ​ | — | ​ | ​ | 1 | ​ | ​ | — | ​ | ​ | 1 | ​
Contingent consideration | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 29 | ​ | ​ | 29 | ​
Total |  | $ | — | ​ | $ | 32 | ​ | $ | 29 |  | $ | 61 | ​
​ The following table presents the Company’s hierarchy for its financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2019: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(In millions) |  | Level 1 |  | Level 2 |  | Level 3 |  | Total | ​
Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Foreign currency forward contracts |  | $ | — |  | $ | 27 |  | $ | — |  | $ | 27 | ​
Interest rate-related derivatives | ​ | ​ | — | ​ | ​ | 3 | ​ | ​ | — | ​ | ​ | 3 | ​
Total |  | $ | — |  | $ | 30 |  | $ | — |  | $ | 30 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Foreign currency forward contracts |  | $ | — |  | $ | 6 |  | $ | — |  | $ | 6 | ​
Interest rate-related derivatives | ​ | ​ | — | ​ | ​ | 26 | ​ | ​ | — | ​ | ​ | 26 | ​
Contingent consideration | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 36 | ​ | ​ | 36 | ​
Total | ​ | $ | — | ​ | $ | 32 | ​ | $ | 36 | ​ | $ | 68 | ​
Schedule of estimated fair values of financial instruments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31 | ​ | June 30
​ | ​ | 2019 | ​ | 2019
​ | ​ | Carrying | ​ | Fair | ​ | Carrying | ​ | Fair
(In millions) |  | Amount |  | Value |  | Amount |  | Value
Nonderivatives | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash and cash equivalents |  | $ | 3,596 | ​ | $ | 3,596 |  | $ | 2,987 |  | $ | 2,987
Current and long-term debt | ​ |  | 5,184 | ​ | ​ | 5,696 | ​ |  | 3,412 | ​ | ​ | 3,706
Additional purchase price payable | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 3 | ​ | ​ | 3
Contingent consideration | ​ | ​ | 29 | ​ | ​ | 29 | ​ | ​ | 36 | ​ | ​ | 36
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivatives | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Foreign currency forward contracts – asset (liability), net | ​ |  | 16 | ​ | ​ | 16 | ​ |  | 21 | ​ | ​ | 21
Interest rate-related derivatives – asset (liability), net | ​ | ​ | 2 | ​ | ​ | 2 | ​ | ​ | (23) | ​ | ​ | (23)
Impairment charges measured at fair value on a nonrecurring basis, classified as Level 3 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | Date of Fair Value |  | ​ | ​
(In millions) |  | Impairment charges |  | Measurement |  | Fair Value(1)
Goodwill | ​ | $ | 511 | ​ | December 31, 2019 | ​ | $ | 264
Other intangible assets, net (trademark) | ​ |  | 266 | ​ | December 31, 2019 | ​ |  | 412
Total | ​ | $ | 777 | ​ | ​ | ​ | $ | 676
(1) | See Note 3 – Goodwill and Other Intangible Assets for discussion of the valuation techniques used to measure fair value, the description of the inputs and information used to develop those inputs.
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | Date of Fair Value |  | ​ | ​
(In millions) | ​ | Impairment charges | ​ | Measurement | ​ | Fair Value(1)
Goodwill | ​ | $ | 20 | ​ | December 31, 2018 | ​ | $ | 120
Other intangible assets, net (trademark) | ​ |  | 18 | ​ | December 31, 2018 | ​ |  | 59
Total | ​ | $ | 38 | ​ | ​ | ​ | $ | 179
(1) | See Note 3 – Goodwill and Other Intangible Assets for discussion of the valuation techniques used to measure fair value, the description of the inputs and information used to develop those inputs.
Changes in the fair value of the contingent consideration obligations | ​
​ | ​ | ​ | ​
(In millions) |  | Fair Value
Contingent consideration at June 30, 2019 | ​ | $ | 36
Changes in fair value | ​ |  | (7)
Contingent consideration at December 31, 2019 | ​ | $ | 29

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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of contingent payment arrangements including the terms that will result in payment and the accounting treatment that will be followed if such contingencies occur, including the potential impact on earnings per share if contingencies are to be settled in common stock of the entity. The description also may include the period over which amounts are expected to be paid, and changes in the amount since the previous reporting period. This also includes contingent options and commitments. + References No definition available. + 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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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