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Fair Value (Schedule of Financial Assets and Liabilities Carried at Fair Value on a Recurring Basis) (Details) - USD ($)
$ in Millions
Jun. 30, 2020
Jun. 30, 2019
Assets    
Investments in equity securities $ 531 $ 761
Liabilities    
Redeemable noncontrolling interests (305) (189)
Fair value measurements recurring    
Assets    
Investments in equity securities 531 761
Liabilities    
Other (6)  
Redeemable noncontrolling interests (305) (189)
Total 220 572
Fair value measurements recurring | Level 1    
Assets    
Investments in equity securities 531 [1] 545 [2]
Liabilities    
Other 0  
Redeemable noncontrolling interests 0 0
Total 531 545
Fair value measurements recurring | Level 2    
Assets    
Investments in equity securities 0 216 [3]
Liabilities    
Other 0  
Redeemable noncontrolling interests 0 0
Total 0 216
Fair value measurements recurring | Level 3    
Assets    
Investments in equity securities 0 0
Liabilities    
Other [4] (6)  
Redeemable noncontrolling interests [4] (305) (189)
Total $ (311) $ (189)
[1] The investment categorized as Level 1 represents an investment in equity securities of Flutter with a readily determinable fair value (See Note 3—Acquisitions, Disposals and Other Transactions under the heading “Flutter” for further discussion).
[2] The investment categorized as Level 1 represents an investment in equity securities of Roku with a readily determinable fair value, which was sold in March 2020 (See Note 3—Acquisitions, Disposals and Other Transactions under the heading “Roku” for further discussion).
[3] The investment categorized as Level 2 represents an investment in equity securities of The Stars Group estimated using the quoted market price of The Stars Group common stock less a discount due to a lack of marketability (“DLOM”) as a result of certain transfer restrictions. The DLOM was derived based on the remaining term of the lock up period and the volatility of The Stars Group common stock. The investment in The Stars Group was transferred from Level 2 of the fair value hierarchy to Level 1 during the fourth quarter of fiscal 2020 as a result of The Stars Group equity securities being exchanged for Flutter equity securities upon the completion of the Combination in May 2020 and the removal of the transfer restrictions on the Company’s investment (See Note 3—Acquisitions, Disposals and Other Transactions under the heading “Flutter” for further discussion).
[4] The Company utilizes the market approach valuation technique for its Level 3 fair value measures. Inputs to such measures could include observable market data obtained from independent sources such as broker quotes and recent market transactions for similar assets. It is the Company’s policy to maximize the use of observable inputs in the measurement of its Level 3 fair value measurements. To the extent observable inputs are not available, the Company utilizes unobservable inputs based upon the assumptions market participants would use in valuing the liability. Examples of utilized unobservable inputs are future cash flows and long-term growth rates.