Available-for-Sale Securities

6 Months Ended

Dec. 31, 2014

Investments, Debt and Equity Securities [Abstract]

Available-for-Sale Securities Disclosure

Available-for-Sale Securities

We invest in marketable securities, which are classified as available-for-sale and are carried at fair value in the condensed consolidated balance sheets. We held the following investments in marketable securities at fair value at:

(in millions)	December 31, 2014		June 30, 2014
Current available-for-sale securities:
Commercial paper	$	14	$	4
Treasury bills	—		85
International bonds	1		1
Corporate bonds	5		3
U.S. agency bonds	25		—
U.S. agency mortgage-backed securities	6		—
Total current available-for-sale securities	51		93
Long-term available-for-sale securities:
Corporate bonds	9		5
U.S. agency bonds	7		2
U.S. agency mortgage-backed securities	21		—
Total long-term available-for-sale securities	37		7
Total available-for-sale securities	$	88	$	100

Gross unrealized gains and losses were immaterial at December 31, 2014. During the three and six months ended December 31, 2014, gross realized gains and losses were immaterial and we did not recognize any other-than-temporary impairments. At December 31, 2014, the weighted-average effective maturity of our current and long-term investments was approximately 9 months and 16 months, respectively.