FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Sep. 30, 2024

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, 2024:


(In millions)	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	640	$	—	$	—	$	640
Foreign currency forward contracts	—		25		—		25
Cross-currency swap contracts	—		39		—		39
Total	$	640	$	64	$	—	$	704

Liabilities:

Foreign currency forward contracts	$	—	$	84	$	—	$	84
Interest rate-related derivatives	—		104		—		104

Total	$	—	$	188	$	—	$	188

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, 2024:


(In millions)	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	1,507	$	—	$	—	$	1,507
Foreign currency forward contracts	—		68		—		68
Cross-currency swap contracts	—		80		—		80

Total	$	1,507	$	148	$	—	$	1,655

Liabilities:
Foreign currency forward contracts	$	—	$	21	$	—	$	21
Interest rate-related derivatives	—		145		—		145

Total	$	—	$	166	$	—	$	166

Schedule of estimated fair values of financial instruments

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


	September 30, 2024				June 30, 2024
(In millions)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Nonderivatives
Cash and cash equivalents	$	2,350	$	2,350	$	3,395	$	3,395
Current and long-term debt	7,815		7,561		7,771		7,174

Deferred consideration payable	344		347		341		340

Derivatives
Cross-currency swap contracts - asset	39		39		80		80
Foreign currency forward contracts – asset (liability), net	(59)		(59)		47		47
Interest rate-related derivatives – liability	(104)		(104)		(145)		(145)