Long Term Debt Long Term Debt

12 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Debt Disclosure [Text Block]

NOTE 11. LONG TERM DEBT

The Company has 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 June 30, 2019 and 2018 are as follows:

Debt instrument	Effective Interest Rate	June 30, 2019			June 30, 2018
Fixed-rate 2.25% notes due September 15, 2020	2.37%	$	1,000.0		$	1,000.0
Fixed-rate 3.375% notes due September 15, 2025	3.47%	1,000.0			1,000.0
Other		10.9			13.0
		2,010.9			2,013.0
Less: current portion		(2.5		)	(2.5		)
Less: unamortized discount and debt issuance costs		(6.2		)	(8.1		)
Total long-term debt		$	2,002.2		$	2,002.4

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, 2019, the fair value of the Notes, based on Level 2 inputs, was $2,059.4 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.”