Financial Instruments and Fair Value Measurements (Tables)

9 Months Ended

Mar. 31, 2019

Fair Value Disclosures [Abstract]

Summary of Assets and Liabilities Measured At Fair Value on Recurring Basis

The following table summarizes those assets and liabilities measured at fair value on a recurring basis:

	As of March 31, 2019								As of June 30, 2018
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
	(in millions)
Assets:
Foreign currency derivatives - cash flow hedges	$	—	$	3	$	—	$	3	$	—	$	3	$	—	$	3
Cross currency interest rate derivatives - fair value hedges		—		27		—		27		—		29		—		29
Cross currency interest rate derivatives - economic hedges		—		12		—		12		—		10		—		10
Cross currency interest rate derivatives - cash flow hedges		—		107		—		107		—		76		—		76
Equity securities(a)		72		—		115		187		93		—		—		93
Total assets	$	72	$	149	$	115	$	336	$	93	$	118	$	—	$	211
Liabilities:
Interest rate derivatives - cash flow hedges	$	—	$	19	$	—	$	19	$	—	$	20	$	—	$	20
Mandatorily redeemable noncontrolling interests		—		—		12		12		—		—		12		12
Cross currency interest rate derivatives - cash flow hedges		—		15		—		15		—		12		—		12
Total liabilities	$	—	$	34	$	12	$	46	$	—	$	32	$	12	$	44

(a) See Note 5 —Investments.

Summary of Equity Securities Classified as Level 3

A rollforward of the Company’s equity securities classified as Level 3 is as follows:

	For the nine months ended March 31, 2019
	(in millions)
Balance - beginning of period(a)	$	127
Purchases		7
Sales		(10	)
Foreign exchange and other		(9	)
Balance - end of period	$	115

(a) Includes impact from the adoption of ASU 2016-01. See Note 1—Description of Business and Basis of Presentation.

Summary of Mandatorily Redeemable Noncontrolling Interest Liabilities Classified Level 3

A rollforward of the Company’s mandatorily redeemable noncontrolling interest liabilities classified as Level 3 is as follows:

	For the nine months ended March 31,
	2019			2018
	(in millions)
Balance - beginning of period	$	12		$	79
Additions		—			12
Accretion		1			2
Foreign exchange movements		(1	)		(1	)
Balance - end of period	$	12		$	92

Summary of Hedges Classified as Current or Non-Current in Balance Sheets Based on Maturity Dates

Hedges are classified as current or non-current in the Balance Sheets based on their maturity dates. Refer to the table below for further details:

			Fair value as of
	Balance Sheet Location		March 31, 2019			June 30, 2018
			(in millions)
Foreign currency derivatives - cash flow hedges		Other current assets	$	3		$	3
Cross currency interest rate derivatives - fair value hedges		Other current assets		8			—
Cross currency interest rate derivatives - economic hedges		Other current assets		12			—
Cross currency interest rate derivatives - cash flow hedges		Other current assets		32			—
Cross currency interest rate derivatives - fair value hedges		Other non-current assets		19			29
Cross currency interest rate derivatives - cash flow hedges		Other non-current assets		75			76
Cross currency interest rate derivatives - economic hedges		Other non-current assets		—			10
Interest rate derivatives - cash flow hedges		Other current liabilities		(3	)		—
Interest rate derivatives - cash flow hedges		Other non-current liabilities		(16	)		(20	)
Cross currency interest rate derivatives - cash flow hedges		Other non-current liabilities		(15	)		(12	)

Financial Instruments and Fair Value Measurements - Summary of Derivative Instruments Designated as Cash Flow Hedges

The following tables present the impact that changes in the fair values of derivatives designated as cash flow hedges had on Accumulated other comprehensive loss and the Statement of Operations during the three and nine months ended March 31, 2019. The Company did not have any such hedges in the three and nine months ended March 31, 2018.

	(Gain) loss recognized in Accumulated Other Comprehensive Loss for the three months ended				Gain (loss) reclassified from Accumulated Other Comprehensive Loss for the three months ended					Income statement
	March 31,				March 31,					location
	2019		2018		2019			2018
	(in millions)
Derivative instruments designated as cash flow hedges:
Foreign currency derivatives - cash flow hedges	$	2	$	—	$	—		$	—	Operating expenses
Cross currency interest rate derivatives - cash flow hedges		9		—		(7	)		—	Interest (expense) income, net
Interest rate derivatives - cash flow hedges		4		—		(2	)		—	Interest (expense) income, net
Total	$	15	$	—	$	(9	)	$	—

	(Gain) loss recognized in Accumulated Other Comprehensive Loss for the nine months ended					Gain (loss) reclassified from Accumulated Other Comprehensive Loss for the nine months ended					Income statement
	March 31,					March 31,					location
	2019			2018		2019			2018
	(in millions)
Derivative instruments designated as cash flow hedges:
Foreign currency derivatives - cash flow hedges	$	(2	)	$	—	$	2		$	—	Operating expenses
Cross currency interest rate derivatives - cash flow hedges		(7	)		—		5			—	Interest (expense) income, net
Interest rate derivatives - cash flow hedges		6			—		(6	)		—	Interest (expense) income, net
Total	$	(3	)	$	—	$	1		$	—