XML 35 R25.htm IDEA: XBRL DOCUMENT
v3.23.3

FAIR VALUE MEASUREMENTS (Tables) | 3 Months Ended
--- | ---
Sep. 30, 2023
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, 2023:
(In millions) |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |  |  |  |  |  |  |  |
Money market funds |  | $ | 2,094 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,094 |
Foreign currency forward contracts |  | — |  |  | 106 |  |  | — |  |  | 106 |
Cross-currency swap contracts |  | — |  |  | 35 |  |  | — |  |  | 35 |
Total |  | $ | 2,094 |  |  | $ | 141 |  |  | $ | — |  |  | $ | 2,235 |
Liabilities: |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | — |  |  | $ | 30 |  |  | $ | — |  |  | $ | 30 |
Interest rate-related derivatives |  | — |  |  | 180 |  |  | — |  |  | 180 |
DECIEM stock options |  | — |  |  | — |  |  | 103 |  |  | 103 |
Total |  | $ | — |  |  | $ | 210 |  |  | $ | 103 |  |  | $ | 313 |
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, 2023:
(In millions) |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |  |  |  |  |  |  |  |
Money market funds |  | $ | 3,241 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,241 |
Foreign currency forward contracts |  | — |  |  | 76 |  |  | — |  |  | 76 |
Cross-currency swap contracts |  | — |  |  | 22 |  |  | — |  |  | 22 |
Total |  | $ | 3,241 |  |  | $ | 98 |  |  | $ | — |  |  | $ | 3,339 |
Liabilities: |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | — |  |  | $ | 49 |  |  | $ | — |  |  | $ | 49 |
Interest rate-related derivatives |  | — |  |  | 150 |  |  | — |  |  | 150 |
DECIEM stock options |  | — |  |  | — |  |  | 99 |  |  | 99 |
Total |  | $ | — |  |  | $ | 199 |  |  | $ | 99 |  |  | $ | 298 |
Schedule of estimated fair values of financial instruments | The estimated fair values of the Company’s financial instruments are as follows:
|  | September 30, 2023 |  | June 30, 2023
(In millions) |  | Carrying Amount |  | Fair Value |  | Carrying Amount |  | Fair Value
Nonderivatives |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 3,090 |  |  | $ | 3,090 |  |  | $ | 4,029 |  |  | $ | 4,029 |
Current and long-term debt |  | 8,093 |  |  | 7,313 |  |  | 8,114 |  |  | 7,665 |
DECIEM stock options |  | 103 |  |  | 103 |  |  | 99 |  |  | 99 |
Deferred consideration payable |  | 340 |  |  | 336 |  |  | 341 |  |  | 338 |
Derivatives |  |  |  |  |  |  |  |
Cross-currency swap contracts – asset, net |  | 35 |  |  | 35 |  |  | 22 |  |  | 22 |
Foreign currency forward contracts – asset, net |  | 76 |  |  | 76 |  |  | 27 |  |  | 27 |
Interest rate-related derivatives – liability, net |  | (180) |  |  | (180) |  |  | (150) |  |  | (150) |
Changes in DECEIM stock option liability | Changes in the DECIEM stock option liability for the three months ended September 30, 2023 are included in Selling, general and administrative expenses in the accompanying consolidated statements of earnings and were as follows:
(In millions) |  | Fair Value
DECIEM stock option liability as of June 30, 2023 |  | $ | 99 |
Changes in fair value, net of foreign currency remeasurements |  | 8 |
Translation adjustments and other, net |  | (4) |
DECIEM stock option liability as of September 30, 2023 |  | $ | 103 |

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 -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-11 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-3 + Details
Name: | us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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 -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration