Marketable Securities And Cash Equivalents

12 Months Ended

Jun. 30, 2012

Marketable Securities And Cash Equivalents [Abstract]

Marketable Securities And Cash Equivalents

Note 5.Marketable Securities and Cash Equivalents

			Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
			(In millions)
2012
United States government obligations
Maturity less than 1 year	$	562	$	-	$	-	$	562
Maturity 1 to 5 years		87		1		-		88
Corporate debt securities
Maturity 1 to 5 years		24		-		-		24
Other debt securities
Maturity less than 1 year		385		-		-		385
Maturity 1 to 5 years		4		-		-		4
Equity securities
Available-for-sale		124		2		(4)		122
Trading		24		-		-		24
	$	1,210	$	3	$	(4)	$	1,209
			Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
			(In millions)
2011
United States government obligations
Maturity less than 1 year	$	753	$	-	$	-	$	753
Maturity 1 to 5 years		72		1		-		73
Government–sponsored enterprise obligations
Maturity less than 1 year		20		-		-		20
Maturity 1 to 5 years		54		-		-		54
Maturity 5 to 10 years		5		-		-		5
Maturity greater than 10 years		218		8		-		226
Corporate debt securities
Maturity less than 1 year		1		-		-		1
Maturity 1 to 5 years		35		1		-		36
Other debt securities
Maturity less than 1 year		215		-		-		215
Maturity 1 to 5 years		3		-		-		3
Maturity 5 to 10 years		7		-		-		7
Equity securities
Available-for-sale		159		83		(4)		238
Trading		24		-		-		24
	$	1,566	$	93	$	(4)	$	1,655

All of the $4 million in unrealized losses at June 30, 2012, arose within the last 12 months and are related to the Company’s investment in one security.The market value of the available-for-sale equity security that has been in an unrealized loss position for less than 12 months is $97 million.The Company evaluated the near-term prospects of the issuer in relation to the severity and duration of the impairment.Based on that evaluation and the Company’s ability and intent to hold this investment for a reasonable period of time sufficient for a forecasted recovery of fair value, the Company does not consider this investment to be other-than-temporarily impaired at June 30, 2012.

In December 2011, the Company recorded a $13 million other-than-temporary impairment related to its available-for-sale equity security investment in Metabolix, Inc. (see Note 19 for additional information).The impairment charge is included in asset impairment, exit, and restructuring costs in the consolidated statements of earnings.

In June 2012, the Company recorded a $12 million other-than-temporary impairment charge related to its available-for-sale investment in one equity security based on the Company’s assessment of underlying market conditions.The impairment charge is recorded in other (income) expense – net in the consolidated statements of earnings.