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FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Sep. 30, 2021

Fair Value Disclosures [Abstract]

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 September 30, 2021:

(In millions)						Level 1						Level 2						Level 3						Total
Assets:
Money market funds						$	1,844					$	—					$	—					$	1,844
Foreign currency forward contracts						—						61						—						61
Interest rate-related derivatives						—						9						—						9
Total						$	1,844					$	70					$	—					$	1,914
Liabilities:
Foreign currency forward contracts						$	—					$	30					$	—					$	30
Interest rate-related derivatives						—						4						—						4
DECIEM stock options						—						—						137						137
Total						$	—					$	34					$	137					$	171

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, 2021:

(In millions)						Level 1						Level 2						Level 3						Total
Assets:
Money market funds						$	2,079					$	—					$	—					$	2,079
Foreign currency forward contracts						—						52						—						52
Interest rate-related derivatives						—						15						—						15
Total						$	2,079					$	67					$	—					$	2,146
Liabilities:
Foreign currency forward contracts						$	—					$	56					$	—					$	56
DECIEM stock options						—						—						141						141
Total						$	—					$	56					$	141					$	197

Schedule of estimated fair values of financial instruments

The estimated fair values of the Company’s financial instruments are as follows:

						September 30 2021												June 30 2021
(In millions)						Carrying Amount						Fair Value						Carrying Amount						Fair Value
Nonderivatives
Cash and cash equivalents						$	3,995					$	3,995					$	4,958					$	4,958
Current and long-term debt						5,548						6,206						5,569						6,262
DECIEM stock options						137						137						141						141
Derivatives
Foreign currency forward contracts – asset (liability), net						31						31						(4)						(4)
Interest rate-related derivatives – asset (liability), net						5						5						15						15

X

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=123594938&loc=d3e13467-108611

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 (a)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

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- References

No definition available.

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X

- 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=123874694&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=123874694&loc=d3e19207-110258

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