FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Jun. 30, 2018

Fair Value Disclosures [Abstract]

Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables present the fair value of our financial instruments that are measured at fair value on a recurring basis:

(In millions)		Level 1		Level 2		Level 3		Gross Fair Value		Netting	(a)		Net Fair Value
June 30, 2018
Assets
Mutual funds	$	246	$	0	$	0	$	246	$	0		$	246
Commercial paper		0		2,513		0		2,513		0			2,513
Certificates of deposit		0		2,058		0		2,058		0			2,058
U.S. government and agency securities		107,015		1,742		0		108,757		0			108,757
Foreign government bonds		22		5,054		0		5,076		0			5,076
Mortgage- and asset-backed securities		0		3,855		0		3,855		0			3,855
Corporate notes and bonds		0		6,894		15		6,909		0			6,909
Municipal securities		0		307		0		307		0			307
Common and preferred stock		287		0		18		305		0			305
Derivatives		1		535		2		538		(152	)		386
Total	$	107,571	$	22,958	$	35	$	130,564	$	(152	)	$	130,412
Liabilities
Derivatives and other	$	1	$	206	$	0	$	207	$	(153	)	$	54

(In millions)		Level 1		Level 2		Level 3		Gross Fair Value		Netting	(a)		Net Fair Value
June 30, 2017
Assets
Mutual funds	$	1,478	$	0	$	0	$	1,478	$	0		$	1,478
Commercial paper		0		319		0		319		0			319
Certificates of deposit		0		1,358		0		1,358		0			1,358
U.S. government and agency securities		109,228		2,616		0		111,844		0			111,844
Foreign government bonds		0		5,187		0		5,187		0			5,187
Mortgage- and asset-backed securities		0		3,934		0		3,934		0			3,934
Corporate notes and bonds		0		4,829		1		4,830		0			4,830
Municipal securities		0		327		0		327		0			327
Common and preferred stock		2,414		1,994		18		4,426		0			4,426
Derivatives		1		508		0		509		(227	)		282
Total	$	113,121	$	21,072	$	19	$	134,212	$	(227	)	$	133,985
Liabilities
Derivatives and other	$	0	$	345	$	39	$	384	$	(228	)	$	156

(a) These amounts represent the impact of netting derivative assets and derivative liabilities when a legally enforceable master netting agreement exists and fair value adjustments related to our own credit risk and counterparty credit risk.

Reconciliation of Total Assets Measured at Fair Value on Recurring Basis to Balance Sheet Presentation

The following table reconciles the total “Net Fair Value” of assets above to the balance sheet presentation of these same assets in Note 4 – Investments.

(In millions)
June 30,		2018			2017
Net fair value of assets measured at fair value on a recurring basis	$	130,412		$	133,985
Cash		3,942			3,624
Common and preferred stock measured at fair value on a nonrecurring basis		999			1,073
Other investments measured at fair value on a nonrecurring basis		557			523
Less derivative net assets classified as other current and long-term assets		(282	)		(202	)
Other		2			1
Recorded basis of investment components	$	135,630		$	139,004