DEBT (Tables)

9 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

Debt

The components of debt were as follows:

(In millions, issuance by calendar year)	Maturities (calendar year)				Stated Interest Rate				Effective Interest Rate			March 31, 2022			June 30, 2021
2009 issuance of $3.8 billion (a)				2039				5.20%			5.24%	$	520		$	520
2010 issuance of $4.8 billion (a)				2040				4.50%			4.57%		486			486
2011 issuance of $2.3 billion (a)				2041				5.30%			5.36%		718			718
2012 issuance of $2.3 billion (a)		2022	–	2042		2.13%	–	3.50%	2.24%	–	3.57%		1,204			1,204
2013 issuance of $5.2 billion (a)		2023	–	2043		2.38%	–	4.88%	2.47%	–	4.92%		2,814			2,814
2013 issuance of €4.1 billion		2028	–	2033		2.63%	–	3.13%	2.69%	–	3.22%		2,559			4,803
2015 issuance of $23.8 billion (a)		2022	–	2055		2.65%	–	4.75%	2.72%	–	4.78%		10,805			12,305
2016 issuance of $19.8 billion (a)		2023	–	2056		2.00%	–	3.95%	2.10%	–	4.03%		9,430			12,180
2017 issuance of $17.0 billion (a)		2024	–	2057		2.88%	–	4.50%	3.04%	–	4.53%		8,945			10,695
2020 issuance of $10.0 billion (a)		2050	–	2060		2.53%	–	2.68%	2.53%	–	2.68%		10,000			10,000
2021 issuance of $8.2 billion (a)		2052	–	2062		2.92%	–	3.04%	2.92%	–	3.04%		8,185			8,185
Total face value													55,666			63,910
Unamortized discount and issuance costs													(481	)		(511	)
Hedge fair value adjustments (b)													(43	)		40
Premium on debt exchange (a)													(5,216	)		(5,293	)
Total debt													49,926			58,146
Current portion of long-term debt													(1,749	)		(8,072	)
Long-term debt												$	48,177		$	50,074

(a) In March 2021 and June 2020, we exchanged a portion of our existing debt at a premium for cash and new debt with longer maturities. The premiums are amortized over the terms of the new debt.

(b) Refer to Note 5 – Derivatives for further information on the interest rate swaps related to fixed-rate debt.

Maturities of Long-term Debt Including Current Portion

The following table outlines maturities of our long-term debt, including the current portion, as of March 31, 2022:

(In millions)
Year Ending June 30,
2022 (excluding the nine months ended March 31, 2022)	$	0
2023		2,750
2024		5,250
2025		2,250
2026		3,000
Thereafter		42,416
Total	$	55,666