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Marketable Securities And Cash Equivalents | 3 Months Ended
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Sep. 30, 2011
Marketable Securities And Cash Equivalents |
Marketable Securities And Cash Equivalents |
Note 5. | Marketable Securities and Cash Equivalents
|  |  |  | Unrealized |  |  | Unrealized |  | Fair |
| Cost |  |  | Gains |  |  | Losses |  | Value |
| (In millions) |
September 30, 2011 |  |  |  |  |  |  |  |  |  |  |  |
United States government obligations |  |  |  |  |  |  |  |  |  |  |  |
Maturity less than 1 year |  | $ | 468 |  |  | $ | – |  |  | $ | – |  |  | $ | 468 |
Maturity 1 to 5 years |  |  | 61 |  |  |  | 1 |  |  |  | – |  |  |  | 62 |
Corporate debt securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Maturity 1 to 5 years |  |  | 66 |  |  |  | – |  |  |  | (1 | ) |  |  | 65 |
Other debt securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Maturity less than 1 year |  |  | 950 |  |  |  | – |  |  |  | – |  |  |  | 950 |
Maturity 1 to 5 years |  |  | 4 |  |  |  | – |  |  |  | – |  |  |  | 4 |
Equity securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale |  |  | 157 |  |  |  | 30 |  |  |  | (34 | ) |  |  | 153 |
Trading |  |  | 22 |  |  |  | – |  |  |  | – |  |  |  | 22 |
|  | $ | 1,728 |  |  | $ | 31 |  |  | $ | (35 | ) |  | $ | 1,724 |
|  |  |  | Unrealized |  |  | Unrealized |  |  | Fair |
| Cost |  |  | Gains |  |  | Losses |  |  | Value |
|  | (In millions) |
June 30, 2011 |  |  |  |  |  |  |  |  |  |  |  |
United States government obligations |  |  |  |  |  |  |  |  |  |  |  |
Maturity less than 1 year |  | $ | 753 |  |  | $ | – |  |  | $ | – |  |  | $ | 753 |
Maturity 1 to 5 years |  |  | 72 |  |  |  | 1 |  |  |  | – |  |  |  | 73 |
Government–sponsored enterprise obligations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Maturity less than 1 year |  |  | 20 |  |  |  | – |  |  |  | – |  |  |  | 20 |
Maturity 1 to 5 years |  |  | 54 |  |  |  | – |  |  |  | – |  |  |  | 54 |
Maturity 5 to 10 years |  |  | 5 |  |  |  | – |  |  |  | – |  |  |  | 5 |
Maturity greater than 10 years |  |  | 218 |  |  |  | 8 |  |  |  | – |  |  |  | 226 |
Corporate debt securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Maturity less than 1 year |  |  | 1 |  |  |  | – |  |  |  | – |  |  |  | 1 |
Maturity 1 to 5 years |  |  | 35 |  |  |  | 1 |  |  |  | – |  |  |  | 36 |
Other debt securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Maturity less than 1 year |  |  | 215 |  |  |  | – |  |  |  | – |  |  |  | 215 |
Maturity 1 to 5 years |  |  | 3 |  |  |  | – |  |  |  | – |  |  |  | 3 |
Maturity 5 to 10 years |  |  | 7 |  |  |  | – |  |  |  | – |  |  |  | 7 |
Equity securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale |  |  | 159 |  |  |  | 83 |  |  |  | (4 | ) |  |  | 238 |
Trading |  |  | 24 |  |  |  | – |  |  |  | – |  |  |  | 24 |
|  | $ | 1,566 |  |  | $ | 93 |  |  | $ | (4 | ) |  | $ | 1,655 |
All of the $35 million in unrealized losses at September 30, 2011 arose within the last 6 months. The market value of the investments that have been in an unrealized loss position for less than 12 months is $164 million. The market value of corporate debt securities with unrealized losses as of September 30, 2011 is $50 million. The $1 million in unrealized losses associated with corporate debt securities is not considered to be other-than-temporary because the expected cash flows to be collected is equivalent to or exceeds the amortized cost basis of the securities. The market value of available-for-sale equity securities with unrealized losses as of September 30, 2011 is $114 million. Of the $34 million in unrealized losses associated with available-for-sale equity securities, $20 million is related to the Company's investment in one security. The Company evaluated the near-term prospects of the issuers in relation to the severity and duration of the impairment. Based on that evaluation and the Company's ability and intent to hold these investments for a reasonable period of time sufficient for a forecasted recovery of fair value, the Company does not consider these investments to be other-than-temporarily impaired at September 30, 2011.

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