INVESTMENTS (Tables)

9 Months Ended

Mar. 31, 2022

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 Investments
March 31, 2022
Changes in Fair Value Recorded in Other Comprehensive Income
Commercial paper	Level 2	$	883	$	0	$	0		$	883	$	802	$	81	$	0
Certificates of deposit	Level 2		3,045		0		0			3,045		3,003		42		0
U.S. government securities	Level 1		79,211		347		(1,174	)		78,384		3		78,381		0
U.S. agency securities	Level 2		417		0		(6	)		411		0		411		0
Foreign government bonds	Level 2		508		3		(10	)		501		0		501		0
Mortgage- and asset-backed securities	Level 2		602		2		(14	)		590		0		590		0
Corporate notes and bonds	Level 2		11,910		31		(277	)		11,664		0		11,664		0
Corporate notes and bonds	Level 3		45		0		0			45		0		45		0
Municipal securities	Level 2		324		34		(7	)		351		0		351		0
Municipal securities	Level 3		103		0		(7	)		96		0		96		0
Total debt investments		$	97,048	$	417	$	(1,495	)	$	95,970	$	3,808	$	92,162	$	0
Changes in Fair Value Recorded in Net Income
Equity investments	Level 1								$	1,857	$	1,234	$	0	$	623
Equity investments	Other									6,284		0		0		6,284
Total equity investments									$	8,141	$	1,234	$	0	$	6,907
Cash									$	7,456	$	7,456	$	0	$	0
Derivatives, net (a)										33		0		33		0
Total									$	111,600	$	12,498	$	92,195	$	6,907

(In millions)	Fair Value Level	Adjusted Cost Basis		Unrealized Gains		Unrealized Losses			Recorded Basis		Cash and Cash Equivalents		Short-term Investments		Equity Investments
June 30, 2021
Changes in Fair Value Recorded in Other Comprehensive Income
Commercial paper	Level 2	$	4,316	$	0	$	0		$	4,316	$	1,331	$	2,985	$	0
Certificates of deposit	Level 2		3,615		0		0			3,615		2,920		695		0
U.S. government securities	Level 1		90,664		3,832		(111	)		94,385		1,500		92,885		0
U.S. agency securities	Level 2		807		2		0			809		0		809		0
Foreign government bonds	Level 2		6,213		9		(2	)		6,220		225		5,995		0
Mortgage- and asset-backed securities	Level 2		3,442		22		(6	)		3,458		0		3,458		0
Corporate notes and bonds	Level 2		8,443		249		(9	)		8,683		0		8,683		0
Corporate notes and bonds	Level 3		63		0		0			63		0		63		0
Municipal securities	Level 2		308		63		0			371		0		371		0
Municipal securities	Level 3		95		0		(7	)		88		0		88		0
Total debt investments		$	117,966	$	4,177	$	(135	)	$	122,008	$	5,976	$	116,032	$	0
Changes in Fair Value Recorded in Net Income
Equity investments	Level 1								$	1,582	$	976	$	0	$	606
Equity investments	Other									5,378		0		0		5,378
Total equity investments									$	6,960	$	976	$	0	$	5,984
Cash									$	7,272	$	7,272	$	0	$	0
Derivatives, net (a)										78		0		78		0
Total									$	136,318	$	14,224	$	116,110	$	5,984

(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, 2022
U.S. government and agency securities	$	35,798	$	(918	)	$	2,308	$	(262	)	$	38,106	$	(1,180	)
Foreign government bonds		419		(6	)		30		(4	)		449		(10	)
Mortgage- and asset-backed securities		450		(13	)		33		(1	)		483		(14	)
Corporate notes and bonds		8,133		(241	)		461		(36	)		8,594		(277	)
Municipal securities		125		(7	)		57		(7	)		182		(14	)
Total	$	44,925	$	(1,185	)	$	2,889	$	(310	)	$	47,814	$	(1,495	)

	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, 2021
U.S. government and agency securities	$	5,294	$	(111	)	$	0	$	0		$	5,294	$	(111	)
Foreign government bonds		3,148		(1	)		5		(1	)		3,153		(2	)
Mortgage- and asset-backed securities		1,211		(5	)		87		(1	)		1,298		(6	)
Corporate notes and bonds		1,678		(8	)		34		(1	)		1,712		(9	)
Municipal securities		58		(7	)		1		0			59		(7	)
Total	$	11,389	$	(132	)	$	127	$	(3	)	$	11,516	$	(135	)

Debt Investment Maturities

Debt Investment Maturities

(In millions)	Adjusted Cost Basis		Estimated Fair Value
March 31, 2022
Due in one year or less	$	20,401	$	20,496
Due after one year through five years		56,463		56,076
Due after five years through 10 years		18,807		18,049
Due after 10 years		1,377		1,349
Total	$	97,048	$	95,970