Long Term Debt (Notes)

12 Months Ended

Jun. 30, 2016

Debt Disclosure [Abstract]

Debt Disclosure [Text Block]

NOTE 8. LONG TERM DEBT

In September 2015, the Company issued fixed-rate notes with 5-year and 10-year maturities for an aggregate principal amount of $2.0 billion. The Notes are senior unsecured obligations, and interest is payable in arrears, semi-annually.

The principal amounts and associated effective interest rates of the Notes and other debt as of June 30, 2016, are as follows. Debt outstanding at the comparative period of June 30, 2015 was not significant.

Debt instrument	June 30, 2016			Effective Interest Rate
Fixed-rate 2.250% notes due September 15, 2020	$	1,000.0		2.39	%
Fixed-rate 3.375% notes due September 15, 2025	1,000.0			3.48	%
Other	22.3
	2,022.3
Less: current portion	(2.5		)
Less: unamortized discount and debt issuance costs	(12.1		)
Total long-term debt	$	2,007.7

The effective interest rates for the Notes include the interest on the Notes and amortization of the discount and debt issuance costs.

As of June 30, 2016, the fair value of the Notes, based on level 2 inputs, was $2,126.4 million. For a description of the fair value hierarchy and the Company's fair value methodologies, including the use of an independent third-party pricing service, see Note 1 "Summary of Significant Accounting Policies."