FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Dec. 31, 2013

FAIR VALUE MEASUREMENTS

Financial assets and liabilities measured at fair value on a recurring basis

The following table presents the Company’s hierarchy for its financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2013:

(In millions)	Level 1		Level 2		Level 3		Total
Assets:
Foreign currency forward contracts	$	—	$	14.3	$	—	$	14.3
Available-for-sale securities	7.2		—		—		7.2
Total	$	7.2	$	14.3	$	—	$	21.5
Liabilities:
Foreign currency forward contracts	$	—	$	15.6	$	—	$	15.6

The following table presents the Company’s hierarchy for its financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2013:

(In millions)	Level 1		Level 2		Level 3		Total
Assets:
Foreign currency forward contracts	$	—	$	21.7	$	—	$	21.7
Available-for-sale securities	6.5		—		—		6.5
Total	$	6.5	$	21.7	$	—	$	28.2
Liabilities:
Foreign currency forward contracts	$	—	$	9.1	$	—	$	9.1

Estimated fair values of financial instruments

	December 31 2013						June 30 2013
(In millions)	Carrying Amount			Fair Value			Carrying Amount		Fair Value
Nonderivatives
Cash and cash equivalents	$	1,748.0		$	1,748.0		$	1,495.7	$	1,495.7
Available-for-sale securities	7.2			7.2			6.5		6.5
Note receivable	16.8			16.9			16.8		16.9
Current and long-term debt	1,338.8			1,347.5			1,344.3		1,387.8
Derivatives
Foreign currency forward contracts — asset (liability)	(1.3		)	(1.3		)	12.6		12.6