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Financial Instruments (Tables)
 12 Months Ended
Jun. 30, 2015
Derivative [Line Items]  
Schedule of Fair Value of Assets and Liabilities Related to Derivatives Designated as Hedging Instruments
The following table summarizes the fair value of our assets and liabilities related to derivatives designated as hedging instruments and the respective line items in which they were recorded in the consolidated balance sheets at June 30:
(in millions)
2015
 
2014
Assets:
 
 
 
Foreign currency contracts (1)
$
3

 
$
1

Forward interest rate swaps (1)
—

 
10

Pay-floating interest rate swaps (2)
8

 
5

Commodity contracts (2)
—

 
1

Total assets
$
11

 
$
17

 
 
 
 
Liabilities:
 
 
 
Foreign currency contracts (3)
$
2

 
$
1

Forward interest rate swaps (4)
—

 
1

Pay-floating interest rate swaps (4)
1

 
5

Commodity contracts (3)
2

 
—

Commodity contracts (4)
1

 
—

Total liabilities
$
6

 
$
7

(1)
Included in prepaid expenses and other in the consolidated balance sheets.
(2)
Included in other assets in the consolidated balance sheets.
(3)
Included in other accrued liabilities in the consolidated balance sheets.
(4)
Included in deferred income taxes and other liabilities in the consolidated balance sheets.
Schedule of Gain/(Loss) Recognized in Earnings for Interest Rate Contracts Designated as Fair Value Hedges
The following table summarizes the gain/(loss) recognized in earnings for interest rate swaps designated as fair value hedges:
(in millions)
2015
 
2014
 
2013
Pay-floating interest rate swaps (1) (2)
$
14

 
$
23

 
$
28

Fixed-rate debt (1)
(14
)
 
(23
)
 
(28
)
(1)
Included in interest expense, net in the consolidated statements of earnings.
(2)
Excludes $22 million fair value adjustment to the previously terminated interest rate swaps as a result of the December 2014 debt extinguishment as disclosed in Note 7.
Schedule of Gain/(Loss) Included in AOCI for Derivative Instruments Designated as Cash Flow Hedges
The following table summarizes the gain/(loss) included in AOCI for derivative instruments designated as cash flow hedges at June 30:
(in millions)
2015
 
2014
Forward interest rate swaps
$
—

 
$
9

Commodity contracts
(3
)
 
1

Foreign currency contracts
2

 
(1
)
Schedule of Gain/(Loss) Reclassified from AOCI into Earnings for Derivative Instruments Designated as Cash Flow Hedges
The following table summarizes the gain/(loss) reclassified from AOCI into earnings for derivative instruments designated as cash flow hedges:
(in millions)
2015
 
2014
 
2013
Foreign currency contracts (1)
$
1

 
$
—

 
$
1

Foreign currency contracts (2)
4

 
2

 
1

Foreign currency contracts (3)
(2
)
 
1

 
1

Commodity contracts (3)
(1
)
 
—

 
1

Forward interest rate swaps (4)
—

 
—

 
1

(1)
Included in revenue in the consolidated statements of earnings.
(2)
Included in cost of products sold in the consolidated statements of earnings.
(3)
Included in SG&A expenses in the consolidated statements of earnings.
(4)
Included in interest expense, net in the consolidated statements of earnings.
Schedule of Gain/(Loss) Recognized in Earnings for Economic (Non-designated) Derivative Instruments
The following table summarizes the gain/(loss) recognized in earnings for economic (non-designated) derivative instruments:
(in millions)
2015
 
2014
 
2013
Foreign currency contracts (1)
$
(45
)
 
$
12

 
$
6

(1)
Included in other income, net in the consolidated statements of earnings.
Summary of Estimated Fair Value of Long-term Obligations and Other Short-term Borrowings Compared to the Respective Carrying Amounts
The following table summarizes the estimated fair value of our long-term obligations and other short-term borrowings compared to the respective carrying amounts at June 30:
(in millions)
2015
 
2014
Estimated fair value
$
5,521

 
$
4,115

Carrying amount
5,492

 
3,972
Schedule of Fair Value Gain/(Loss) Derivative Instrument
The following table is a summary of the fair value gain/(loss) of our derivative instruments, based upon the estimated amount that we would receive (or pay) to terminate the contracts at June 30:
 
2015
 
2014
(in millions)
Notional
Amount
 
Fair Value
Gain/(Loss)
 
Notional
Amount
 
Fair Value
Gain/(Loss)
Pay-floating interest rate swaps
$
1,613

 
$
7

 
$
1,438

 
$
—

Foreign currency contracts
544

 
1

 
643

 
—

Forward interest rate swaps
—

 
—

 
300

 
9

Commodity contracts
22

 
(3
)
 
24

 
1
Fair Value Hedging  
Derivative [Line Items]  
Schedule of Outstanding Instruments
The following tables summarize the outstanding interest rate swaps designated as fair value hedges at June 30:
 
2015
(in millions)
Notional Amount
 
Maturity Date
Pay-floating interest rate swaps
$
1,613

 
Jun 2017
-
Jun 2022
 
2014
(in millions)
Notional Amount
 
Maturity Date
Pay-floating interest rate swaps
$
1,438

 
Jun 2015
-
Jun 2022
Cash Flow Hedging  
Derivative [Line Items]  
Schedule of Outstanding Instruments
The following tables summarize the outstanding cash flow hedges at June 30:
 
2015
(in millions)
Notional Amount
 
Maturity Date
Foreign currency contracts
$
146

 
Jul 2015
-
Jun 2016
Commodity contracts
22

 
Jul 2015
-
Mar 2018
 
2014
(in millions)
Notional Amount
 
Maturity Date
Forward interest rate swaps
$
300

 
Jun 2025
-
Oct 2026
Foreign currency contracts
182

 
Jul 2014
-
Jun 2015
Commodity contracts
24

 
Jul 2014
-
Mar 2017
Not Designated as Hedging Instrument  
Derivative [Line Items]  
Schedule of Outstanding Instruments
The following tables summarize the outstanding economic (non-designated) derivative instruments at June 30:
 
2015
(in millions)
Notional Amount
 
Maturity Date
Foreign currency contracts
$
398

 
Jul 2015
-
Jul 2015
 
2014
(in millions)
Notional Amount
 
Maturity Date
Foreign currency contracts
$
461

 
Jul 2014
-
Sep 2014