LEASES (Tables)

12 Months Ended

Jun. 30, 2020

Leases [Abstract]

Lease, cost

A summary of total lease costs and other information for the periods relating to the Company’s finance and operating leases is as follows:

(In millions)	June 30, 2020
Total lease cost
Finance lease cost:
Amortization of right-of-use assets	$	11
Interest on lease liabilities	1
Operating lease cost	625
Short-term lease cost	24
Variable lease cost	158
Total	$	819
Other information
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	426
Financing cash flows from finance leases	$	12
Right-of-use assets obtained in exchange for new operating lease liabilities	$	266
Right-of-use assets obtained in exchange for new finance lease liabilities	$	1
Weighted-average remaining lease term – finance leases	2 years
Weighted-average remaining lease term – operating leases	11 years
Weighted-average discount rate – finance leases	2.7		%
Weighted-average discount rate – operating leases	2.5		%

Operating lease liability, maturity schedule

The total future minimum lease payments, over the remaining lease term, relating to the Company’s operating and finance leases for each of the next five fiscal years and thereafter is as follows:

(In millions)	Operating Leases		Finance Leases
Fiscal 2021	$	436	$	8
Fiscal 2022	377		4
Fiscal 2023	335		1
Fiscal 2024	301		—
Fiscal 2025	259		—
Thereafter	1,349		—
Total future minimum lease payments	3,057		13
Less imputed interest	(404)		—
Total	$	2,653	$	13

Finance lease liability, maturity schedule

The total future minimum lease payments, over the remaining lease term, relating to the Company’s operating and finance leases for each of the next five fiscal years and thereafter is as follows:

(In millions)	Operating Leases		Finance Leases
Fiscal 2021	$	436	$	8
Fiscal 2022	377		4
Fiscal 2023	335		1
Fiscal 2024	301		—
Fiscal 2025	259		—
Thereafter	1,349		—
Total future minimum lease payments	3,057		13
Less imputed interest	(404)		—
Total	$	2,653	$	13

Schedule of operating lease and finance lease liabilities included in the consolidated balance sheet

Operating lease and finance lease liabilities included in the consolidated balance sheet are as follows:

	June 30, 2020
(In millions)	Operating Leases		Finance Leases
Total current liabilities	$	375	$	8
Total noncurrent liabilities	2,278		5
Total	$	2,653	$	13

Details of impairment of lease assets by type and by region

A summary of the impairment charge for the year ended June 30, 2020 is as follows:

(In millions)
Product Category	Impairment Charge
Skin care	$	22
Makeup	160
Fragrance	18
Hair care	14
Other	1
Total	$	215
Region	Impairment Charge
The Americas	$	103
Europe, the Middle East & Africa	104
Asia/Pacific	8
Total	$	215