Available-for-Sale Securities

3 Months Ended

Sep. 30, 2016

Investments, Debt and Equity Securities [Abstract]

Available-for-Sale Securities

5. 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)	September 30, 2016		June 30, 2016
Current available-for-sale securities:
Treasury bills	$	—	$	3
International bonds	3		2
Corporate bonds	58		58
U.S. agency bonds	7		6
Asset-backed securities	31		28
International equity securities	2		2
U.S. agency mortgage-backed securities	7		14
Total current available-for-sale securities	108		113
Long-term available-for-sale securities:
Treasury bills	29		10
International bonds	3		1
Corporate bonds	32		36
U.S. agency bonds	8		9
Asset-backed securities	8		17
U.S. agency mortgage-backed securities	12		14
Total long-term available-for-sale securities	92		87
Total available-for-sale securities	$	200	$	200

Gross unrealized gains and losses were immaterial at both September 30, 2016 and June 30, 2016. During the three months ended September 30, 2016 and 2015, gross realized gains and losses were immaterial and we did not recognize any other-than-temporary impairments. At September 30, 2016, the weighted-average effective maturity of our current and long-term investments was approximately 6 months and 17 months, respectively.