Long Term Debt Long Term Debt (Notes)

6 Months Ended

Dec. 31, 2015

Note 9. 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 (collectively the “Notes”). 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 December 31, 2015, are as follows. Debt outstanding at the comparative period of June 30, 2015 was not significant.



Debt instrument	December 31, 2015			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	10.7
	2,010.7
Less: current portion	(2.8		)
Less: unamortized discount and debt issuance costs	(13.1		)
Total long-term debt	$	1,994.8

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

As of December 31, 2015, the fair value of the Notes, based on level 2 inputs, was $2,023.0 million. The Company’s Notes are valued utilizing a variety of inputs obtained from an independent pricing service, including benchmark yields, reported trades, non-binding broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data. For a description of the fair value hierarchy and the Company's fair value methodologies see Note 1 "Summary of Significant Accounting Policies" in the Company's Annual Report on Form 10-K for fiscal 2015.