COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Jun. 30, 2020

Commitments and Contingencies Disclosure [Abstract]

Summary of scheduled maturities of contractual obligations for which cash flows are fixed and determinable

The following table summarizes scheduled maturities of the Company’s contractual obligations for which cash flows are fixed and determinable as of June 30, 2020:

			Payments Due in Fiscal
(In millions)	Total		2021		2022		2023		2024		2025		Thereafter
Debt service (1)	$	8,992	$	1,386	$	165	$	412	$	159	$	654	$	6,216
Unconditional purchase obligations (2)	3,768		1,403		522		557		459		494		333
Gross unrecognized tax benefits and interest – current (3)	3		3		—		—		—		—		—
Transition Tax payable(4)	279		17		27		27		51		69		88
Total contractual obligations(5)	$	13,042	$	2,809	$	714	$	996	$	669	$	1,217	$	6,637

⁽¹⁾Includes long-term and current debt and the related projected interest costs. Refer to Note 7 – Leases for information regarding future minimum lease payments relating to the Company’s finance leases.  Interest costs on long-term and current debt in fiscal 2021, 2022, 2023, 2024, 2025 and thereafter are projected to be $177 million, $165 million, $162 million, $159 million, $154 million and $2,016 million, respectively. Projected interest costs on variable rate instruments were calculated using market rates at June 30, 2020.

⁽²⁾Unconditional purchase obligations primarily include: royalty payments pursuant to license agreements, inventory commitments, third-party distribution commitments and advertising commitments. Future royalty and advertising commitments were estimated based on planned future sales for the term that was in effect at June 30, 2020, without consideration for potential renewal periods.

⁽³⁾Refer to Note 9 – Income Taxes for information regarding unrecognized tax benefits. As of June 30, 2020, the noncurrent portion of the Company’s unrecognized tax benefits, including related accrued interest and penalties was $76 million. At this time, the settlement period for the noncurrent portion of the unrecognized tax benefits, including related accrued interest and penalties, cannot be determined and therefore was not included.

⁽⁴⁾The Transition Tax may be paid over an eight-year period and this amount represents the remaining liability as of June 30, 2020.

⁽⁵⁾Refer to Note 7 – Leases for information regarding future minimum lease payments relating to the Company’s operating leases.