INVESTMENTS (Tables)

9 Months Ended

Mar. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Investment Components

The components of investments were as follows:

(In millions)	Fair Value Level	Adjusted Cost Basis		Unrealized Gains		Unrealized Losses			Recorded Basis		Cash and Cash Equivalents		Short-term Investments		Equity and Other Investments
March 31, 2024
Changes in Fair Value Recorded in Other Comprehensive Income
Commercial paper	Level 2	$	5,535	$	0	$	0		$	5,535	$	5,535	$	0	$	0
Certificates of deposit	Level 2		2,300		0		0			2,300		2,256		44		0
U.S. government securities	Level 1		52,036		3		(3,074	)		48,965		4		48,961		0
U.S. agency securities	Level 2		23		0		0			23		0		23		0
Foreign government bonds	Level 2		352		4		(12	)		344		0		344		0
Mortgage- and asset-backed securities	Level 2		980		4		(34	)		950		0		950		0
Corporate notes and bonds	Level 2		9,874		40		(340	)		9,574		0		9,574		0
Corporate notes and bonds	Level 3		1,646		0		(1	)		1,645		0		145		1,500
Municipal securities	Level 2		263		1		(14	)		250		0		250		0
Municipal securities	Level 3		104		0		(16	)		88		0		88		0
Total debt investments		$	73,113	$	52	$	(3,491	)	$	69,674	$	7,795	$	60,379	$	1,500
Changes in Fair Value Recorded in Net Income
Equity investments	Level 1								$	3,340	$	258	$	0	$	3,082
Equity investments	Other									10,225		0		0		10,225
Total equity investments									$	13,565	$	258	$	0	$	13,307
Cash									$	11,581	$	11,581	$	0	$	0
Derivatives, net (a)										8		0		8		0
Total									$	94,828	$	19,634	$	60,387	$	14,807

(In millions)	Fair Value Level	Adjusted Cost Basis		Unrealized Gains		Unrealized Losses			Recorded Basis		Cash and Cash Equivalents		Short-term Investments		Equity and Other Investments
June 30, 2023
Changes in Fair Value Recorded in Other Comprehensive Income
Commercial paper	Level 2	$	16,589	$	0	$	0		$	16,589	$	12,231	$	4,358	$	0
Certificates of deposit	Level 2		2,701		0		0			2,701		2,657		44		0
U.S. government securities	Level 1		65,237		2		(3,870	)		61,369		2,991		58,378		0
U.S. agency securities	Level 2		2,703		0		0			2,703		894		1,809		0
Foreign government bonds	Level 2		498		1		(24	)		475		0		475		0
Mortgage- and asset-backed securities	Level 2		824		1		(39	)		786		0		786		0
Corporate notes and bonds	Level 2		10,809		8		(583	)		10,234		0		10,234		0
Corporate notes and bonds	Level 3		120		0		0			120		0		120		0
Municipal securities	Level 2		285		1		(18	)		268		7		261		0
Municipal securities	Level 3		103		0		(16	)		87		0		87		0
Total debt investments		$	99,869	$	13	$	(4,550	)	$	95,332	$	18,780	$	76,552	$	0
Changes in Fair Value Recorded in Net Income
Equity investments	Level 1								$	10,138	$	7,446	$	0	$	2,692
Equity investments	Other									7,187		0		0		7,187
Total equity investments									$	17,325	$	7,446	$	0	$	9,879
Cash									$	8,478	$	8,478	$	0	$	0
Derivatives, net (a)										6		0		6		0
Total									$	121,141	$	34,704	$	76,558	$	9,879

(a)Refer to Note 5 – Derivatives for further information on the fair value of our derivative instruments.

Unrealized Losses on Debt Investments

Debt investments with continuous unrealized losses for less than 12 months and 12 months or greater and their related fair values were as follows:

	Less than 12 Months					12 Months or Greater								Total Unrealized Losses
(In millions)		Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Total Fair Value
March 31, 2024
U.S. government and agency securities	$	650	$	(17	)	$	48,044	$	(3,057	)	$	48,694	$	(3,074	)
Foreign government bonds		40		0			226		(12	)		266		(12	)
Mortgage- and asset-backed securities		264		(4	)		339		(30	)		603		(34	)
Corporate notes and bonds		1,000		(9	)		6,435		(332	)		7,435		(341	)
Municipal securities		44		(1	)		237		(29	)		281		(30	)
Total	$	1,998	$	(31	)	$	55,281	$	(3,460	)	$	57,279	$	(3,491	)

	Less than 12 Months					12 Months or Greater								Total Unrealized Losses
(In millions)		Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Total Fair Value
June 30, 2023
U.S. government and agency securities	$	7,950	$	(336	)	$	45,273	$	(3,534	)	$	53,223	$	(3,870	)
Foreign government bonds		77		(5	)		391		(19	)		468		(24	)
Mortgage- and asset-backed securities		257		(5	)		412		(34	)		669		(39	)
Corporate notes and bonds		2,326		(49	)		7,336		(534	)		9,662		(583	)
Municipal securities		111		(3	)		186		(31	)		297		(34	)
Total	$	10,721	$	(398	)	$	53,598	$	(4,152	)	$	64,319	$	(4,550	)

Debt Investment Maturities

Debt Investment Maturities

The following table outlines maturities of our debt investments as of March 31, 2024:

(In millions)	Adjusted Cost Basis		Estimated Fair Value
March 31, 2024
Due in one year or less	$	19,613	$	19,428
Due after one year through five years		42,885		40,676
Due after five years through 10 years		9,230		8,304
Due after 10 years		1,385		1,266
Total	$	73,113	$	69,674