Debt

12 Months Ended

Jun. 30, 2022

Debt Disclosure [Abstract]

Debt

DEBT

The Company issued three series of fixed-rate notes with staggered maturities of 7 and 10-years totaling $3.0 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, 2022 and 2021 are as follows:

Debt instrument	Effective Interest Rate	June 30, 2022		June 30, 2021
Fixed-rate 3.375% notes due September 15, 2025	3.47%	1,000.0		1,000.0
Fixed-rate 1.250% notes due September 1, 2030	1.83%	1,000.0		1,000.0
Fixed-rate 1.700% notes due May 15, 2028	1.85%	1,000.0		1,000.0
Other		6.0		6.9
		3,006.0		3,006.9
Less: current portion (a)		(1.2)		(1.2)
Less: unamortized discount and debt issuance costs		(17.7)		(20.7)
Total long-term debt		$	2,987.1	$	2,985.0

(a) - Current portion of long-term debt as of June 30, 2022 is included within Accrued expenses and other current liabilities on the Consolidated Balance Sheets.

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, 2022, the fair value of the Notes, based on Level 2 inputs, was $2,721.0 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.”