SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Schedule of inventory and promotional merchandise

Inventory and promotional merchandise consists of the following:

(In millions)	December 31, 2023		June 30, 2023
Raw materials	$	830	$	876
Work in process	296		362
Finished goods	1,167		1,404
Promotional merchandise	310		337
	$	2,603	$	2,979

Schedule of property, plant and equipment

Property, plant and equipment consists of the following:

(In millions)	December 31, 2023		June 30, 2023
Assets (Useful Life)
Land and improvements(1)	$	74	$	70
Buildings and improvements (10 to 40 years)	909		843
Machinery and equipment (3 to 10 years)	1,160		1,071
Computer hardware and software (4 to 10 years)	1,810		1,651
Furniture and fixtures (5 to 10 years)	140		136
Leasehold improvements	2,426		2,310
Construction in progress	726		827
	7,245		6,908
Less accumulated depreciation and amortization	(4,025)		(3,729)
	$	3,220	$	3,179

(1)Land improvements are depreciated over a 10 year useful life.

Schedule of effective rate for income taxes

The effective rate for income taxes for the three and six months ended December 31, 2023 and 2022 are as follows:

	Three Months Ended December 31				Six Months Ended December 31
	2023		2022		2023		2022
Effective rate for income taxes	37.6	%	25.4	%	36.3	%	23.9	%
Basis-point change from the prior-year period	1,220				1,240

Schedule of other accrued liabilities

Other accrued liabilities consist of the following:

(In millions)	December 31, 2023		June 30, 2023
Employee compensation	$	475	$	546
Accrued sales incentives	447		321
Deferred revenue	370		323
Payroll and other non-income taxes	333		297
Sales return accrual	302		289
Other	1,529		1,440
	$	3,456	$	3,216