Available-for-Sale Securities

12 Months Ended

Jun. 30, 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 consolidated balance sheets. We held the following investments in marketable securities at fair value at June 30:

(in millions)	2017		2016
Current available-for-sale securities:
Commercial paper	$	—	$	—
Treasury bills	25		3
International bonds	3		2
Corporate bonds	30		58
U.S. agency bonds	3		6
Asset-backed securities	3		28
International equity securities	1		2
U.S. agency mortgage-backed securities	—		14
Total current available-for-sale securities	65		113
Long-term available-for-sale securities:
Treasury bills	—		10
International bonds	—		1
Corporate bonds	—		36
U.S. agency bonds	—		9
Asset-backed securities	—		17
U.S. agency mortgage-backed securities	—		14
Total long-term available-for-sale securities	—		87
Total available-for-sale securities	$	65	$	200

Gross unrealized gains and losses were immaterial at both June 30, 2017 and 2016. During fiscal 2017, 2016 and 2015 gross realized gains and losses were immaterial and we did not recognize any other-than-temporary-impairments. At June 30, 2017, the weighted-average effective maturity of our current investments is approximately 7 months.