ACQUISITION OF BUSINESS (Tables)

12 Months Ended

Jun. 30, 2020

Summary of total purchase price and gain recognized

A summary of the total purchase price and the total gain recognized in Other income, net in the consolidated statements of earnings is as follows:


(In millions)	December 18, 2019		Measurement Period Adjustments		June 30, 2020
Purchase price
Purchase price	$	1,268	$	(32)	$	1,236
Fair value of previously held equity method investment	682		(22)		660
Write-off of call option relating to previously held equity method investment	4		—		4
Total purchase price	$	1,954	$	(54)	$	1,900

	For the Six Months Ended December 31, 2019		Measurement Period Adjustments		For the Year Ended June 30, 2020
Gains recognized in the consolidated statement of earnings
Gain on previously held equity method investment	$	549	$	(19)	$	530
Recognition of a previously unrealized foreign currency gain	4		—		4
Total gain on previously held equity method investment	553		(19)		534

Foreign currency gain on cash	23		—		23
Total Other income, net	$	576	$	(19)	$	557

Rollforward of final allocation of total consideration

The rollforward of the final allocation of the total consideration transferred as of December 18, 2019 to allocation as of June 30, 2020 is as follows:


(In millions, unaudited)	December 18, 2019		Measurement Period Adjustments		June 30, 2020
Cash	$	228	$	1	$	229
Accounts receivable	48		(35)		13
Inventory	83		5		88
Other current assets	5		(1)		4
Property, plant and equipment	3		—		3
Right-of-use assets	3		—		3
Intangible assets	1,427		232		1,659
Goodwill	556		(210)		346
Other long-term assets	3		1		4
Total assets acquired	2,356		(7)		2,349

Accounts payable	27		(13)		14
Other accrued liabilities	22		5		27
Deferred income taxes	352		55		407
Lease liability	1		—		1
Total liabilities assumed	402		47		449
Total consideration transferred	$	1,954	$	(54)	$	1,900