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Investments
12 Months Ended
Jun. 30, 2019
Investments [Abstract]  
Investments
5. Investments
In connection with the naviHealth divestiture discussed in Note 2, we obtained a 44 percent equity interest in a partnership that owns 100 percent of the equity interest of naviHealth. We accounted for this investment initially at its fair value using Level 3 unobservable inputs based on expected sales proceeds following a competitive bidding process. We initially recognized a $358 million equity method investment.
We are accounting for our equity interest in naviHealth using the equity method of accounting on a one-month reporting lag. The impact of our proportionate share of naviHealth's results was a loss of $9 million for fiscal 2019. Upon the divestiture closing, we received a non-cash distribution of $14 million in the form of the partnership's payment for certain of our divestiture transaction costs directly to the applicable third-party. At June 30, 2019 the carrying value of this investment was $334 million.