FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Sep. 30, 2013

FAIR VALUE MEASUREMENTS

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, 2013:

(In millions)	Level 1		Level 2		Level 3		Total
Assets:
Foreign currency forward contracts	$	—	$	12.5	$	—	$	12.5
Available-for-sale securities	7.0		—		—		7.0
Total	$	7.0	$	12.5	$	—	$	19.5
Liabilities:
Foreign currency forward contracts	$	—	$	14.7	$	—	$	14.7

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, 2013:

(In millions)	Level 1		Level 2		Level 3		Total
Assets:
Foreign currency forward contracts	$	—	$	21.7	$	—	$	21.7
Available-for-sale securities	6.5		—		—		6.5
Total	$	6.5	$	21.7	$	—	$	28.2
Liabilities:
Foreign currency forward contracts	$	—	$	9.1	$	—	$	9.1

Estimated fair values of financial instruments

	September 30 2013						June 30 2013
(In millions)	Carrying Amount			Fair Value			Carrying Amount		Fair Value
Nonderivatives
Cash and cash equivalents	$	1,322.2		$	1,322.2		$	1,495.7	$	1,495.7
Available-for-sale securities	7.0			7.0			6.5		6.5
Note receivable	16.8			16.9			16.8		16.9
Current and long-term debt	1,340.6			1,377.4			1,344.3		1,387.8
Derivatives
Foreign currency forward contracts — asset (liability)	(2.2		)	(2.2		)	12.6		12.6