Available-for-Sale Securities

9 Months Ended

Mar. 31, 2017

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)	March 31, 2017		June 30, 2016
Current available-for-sale securities:
Commercial paper	$	2	$	—
Treasury bills	8		3
International bonds	2		2
Corporate bonds	70		58
U.S. agency bonds	5		6
Asset-backed securities	27		28
International equity securities	1		2
U.S. agency mortgage-backed securities	13		14
Total current available-for-sale securities	128		113
Long-term available-for-sale securities:
Treasury bills	14		10
International bonds	3		1
Corporate bonds	19		36
U.S. agency bonds	—		9
Asset-backed securities	16		17
U.S. agency mortgage-backed securities	17		14
Total long-term available-for-sale securities	69		87
Total available-for-sale securities	$	197	$	200

Gross unrealized gains and losses on available-for-sale securities were immaterial at both March 31, 2017 and June 30, 2016. During the three and nine months ended March 31, 2017 and 2016, gross realized gains and losses on available-for-sale securities were immaterial and we did not recognize any other-than-temporary impairments. At March 31, 2017, the weighted-average effective maturity of our current and long-term marketable securities was approximately 6 months and 16 months, respectively.