INVESTMENTS

3 Months Ended

Dec. 31, 2015

INVESTMENTS

INVESTMENTS

NOTE 2 – INVESTMENTS

Gains and losses recorded in accumulated OCI (“AOCI”) related to the Company’s available-for-sale investments as of December 31, 2015 were as follows:

(In millions)	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
U.S. government and agency securities	$	402.2	$	—	$	(1.8	)	$	400.4
Foreign government and agency securities	34.4		—		(0.1		)	34.3
Corporate notes and bonds	352.4		0.1		(1.6		)	350.9
Time deposits	446.9		—		—			446.9
Other securities	22.9		—		—			22.9
Total	$	1,258.8	$	0.1	$	(3.5	)	$	1,255.4

Gains and losses recorded in AOCI related to the Company’s available-for-sale investments as of June 30, 2015 were as follows:

(In millions)	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
U.S. government and agency securities	$	265.8	$	0.1	$	(0.1	)	$	265.8
Foreign government and agency securities	23.9		—		—			23.9
Corporate notes and bonds	182.7		0.1		(0.4		)	182.4
Time deposits	410.8		—		—			410.8
Other securities	34.8		0.1		—			34.9
Total	$	918.0	$	0.3	$	(0.5	)	$	917.8

The following table presents the Company’s available-for-sale securities by contractual maturity as of December 31, 2015:

(In millions)	Cost		Fair Value
Due within one year	$	546.2	$	546.1
Due after one through five years	712.7		709.3
	$	1,258.9	$	1,255.4

The following table presents the fair market value of the Company’s investments with gross unrealized losses that are not deemed to be other-than temporarily impaired as of December 31, 2015:

	In a Loss Position for Less Than 12 Months					In a Loss Position for More Than 12 Months
(In millions)	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
Available-for-sale securities	$	713.3	$	(3.3	)	$	61.4	$	(0.2)

Gross gains and losses realized on sales of investments included in the consolidated statements of earnings were as follows:

	Three Months Ended December 31					Six Months Ended December 31
(In millions)	2015			2014		2015			2014
Gross realized gains	$	0.2		$	1.5	$	0.4		$	1.5
Gross realized losses	(0.3		)	—		(0.4		)	—
Total	$	(0.1	)	$	1.5	$	—		$	1.5

The Company utilizes the first-in, first-out method to determine the cost of the security sold.