Financial Instruments and Fair Value Measurements (Tables)

12 Months Ended

Jun. 30, 2019

Fair Value Disclosures [Abstract]

Summary of Assets and Liabilities Measured At Fair Value on Recurring Basis

The following table summarizes those assets and liabilities measured at fair value on a recurring basis:

	June 30, 2019								June 30, 2018
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
	(in millions)
Assets:
Foreign currency derivatives—cash flow hedges	$	—	$	1	$	—	$	1	$	—	$	3	$	—	$	3
Cross-currency interest rate derivatives—fair value hedges		—		29		—		29		—		29		—		29
Cross-currency interest rate derivatives—economic hedges		—		12		—		12		—		10		—		10
Cross-currency interest rate derivatives—cash flow hedges		—		116		—		116		—		76		—		76
Equity securities(a)		74		—		113		187		93		—		—		93
Total assets	$	74	$	158	$	113	$	345	$	93	$	118	$	—	$	211
Liabilities:
Interest rate derivatives—cash flow hedges	$	—	$	20	$	—	$	20	$	—	$	20	$	—	$	20
Mandatorily redeemable noncontrolling interests		—		—		11		11		—		—		12		12
Cross-currency interest rate derivatives—cash flow hedges		—		18		—		18		—		12		—		12
Total liabilities	$	—	$	38	$	11	$	49	$	—	$	32	$	12	$	44

(a) See Note 6—Investments.

Summary of Equity Securities Classified as Level 3

A rollforward of the Company’s equity securities classified as Level 3 is as follows:

	For the fiscal year ended June 30, 2019
	(in millions)
Balance—beginning of period(a)	$	127
Purchases		8
Sales		(10	)
Measurement adjustments		(2	)
Foreign exchange and other		(10	)
Balance—end of period	$	113

(a) Includes impact from the adoption of ASU 2016-01. See Note 1—Description of Business and Basis of Presentation.

Summary of Mandatorily Redeemable Noncontrolling Interest Liabilities Classified Level 3

A rollforward of the Company’s mandatorily redeemable noncontrolling interest liabilities classified as Level 3 is as follows:

	For the fiscal year ended June 30,
	2019			2018
	(in millions)
Balance—beginning of year	$	12		$	79
Additions		—			12
Payments		—			(81	)
Measurement adjustments		(4	)		—
Accretion		4			3
Foreign exchange movements		(1	)		(1	)
Balance—end of year	$	11		$	12

Summary of Hedges Classified as Current or Non-Current in Balance Sheets Based on Maturity Dates

Hedges are classified as current or non-current in the Consolidated Balance Sheets based on their maturity dates. Refer to the table below for further details:

			Fair value as of June 30,
	Balance Sheet Location		2019			2018
			(in millions)
Foreign currency derivatives—cash flow hedges		Other current assets	$	1		$	3
Cross-currency interest rate derivatives—fair value hedges		Other current assets		8			—
Cross-currency interest rate derivatives—economic hedges		Other current assets		12			—
Cross-currency interest rate derivatives—cash flow hedges		Other current assets		33			—
Cross-currency interest rate derivatives—fair value hedges		Other non-current assets		21			29
Cross-currency interest rate derivatives—cash flow hedges		Other non-current assets		83			76
Cross-currency interest rate derivatives—economic hedges		Other non-current assets		—			10
Interest rate derivatives—cash flow hedges		Other current liabilities		(2	)		—
Interest rate derivatives—cash flow hedges		Other non-current liabilities		(18	)		(20	)
Cross-currency interest rate derivatives—cash flow hedges		Other non-current liabilities		(18	)		(12	)

Financial Instruments and Fair Value Measurements - Summary of Derivative Instruments Designated as Cash Flow Hedges

The following table presents the impact that changes in the fair values of derivatives designated as cash flow hedges had on Accumulated other comprehensive loss and the Statement of Operations during the fiscal years ended June 30, 2019 and 2018. The Company did not have any such hedges in fiscal 2017.

	Gain (loss) recognized in Accumulated Other Comprehensive Loss for the Fiscal year ended June 30,					(Gain) loss reclassified from Accumulated Other Comprehensive Loss for the Fiscal year ended June 30,						Income statement location
	2019			2018		2019			2018
	(in millions)
Derivative instruments designated as cash flow hedges:
Foreign currency derivatives—cash flow hedges	$	2		$	3	$	(3	)	$	1		Operating expenses
Cross-currency interest rate derivatives—cash flow hedges		9			8		(4	)		(9	)	Interest (expense) income, net
Interest rate derivatives—cash flow hedges		(9	)		—		8			1		Interest (expense) income, net
Total	$	2		$	11	$	1		$	(7	)

During fiscal 2019 and 2018, the amount recognized in the Statements of Operations for the ineffective portion of derivative instruments designated as cash flow hedges was approximately $4 million and nil, respectively, and the Company did not exclude any component of the changes in fair value of the derivative instruments from the assessment of hedge effectiveness.