INVESTMENTS (Tables)

6 Months Ended

Dec. 31, 2016

INVESTMENTS

Schedule of gains and losses recorded in AOCI related to the Company's available-for-sale investments

Gains and losses recorded in accumulated OCI (“AOCI”) related to the Company’s available-for-sale investments as of December 31, 2016 were as follows:

(In millions)	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
U.S. government and agency securities	$	431	$	1	$	(2	)	$	430
Foreign government and agency securities	88		—		(1		)	87
Corporate notes and bonds	510		—		(2		)	508
Time deposits	280		—		—			280
Other securities	28		—		—			28
Total	$	1,337	$	1	$	(5	)	$	1,333

Gains and losses recorded in AOCI related to the Company’s available-for-sale investments as of June 30, 2016 were as follows:

(In millions)	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
U.S. government and agency securities	$	560	$	3	$	—	$	563
Foreign government and agency securities	61		—		—		61
Corporate notes and bonds	454		3		—		457
Time deposits	390		—		—		390
Other securities	32		1		—		33
Total	$	1,497	$	7	$	—	$	1,504

Schedule of available-for-sale securities by contractual maturity

The following table presents the Company’s available-for-sale securities by contractual maturity as of December 31, 2016:

(In millions)	Cost		Fair Value
Due within one year	$	413	$	413
Due after one through five years	924		920
	$	1,337	$	1,333

Schedule of gross unrealized losses that are not deemed to be other-than-temporarily impaired

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, 2016:

	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	$	781	$	(5	)	$	14	$	—