COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Jun. 30, 2024

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, 2024:

			Payments Due in Fiscal
(In millions)	Total		2025		2026		2027		2028		2029		Thereafter
Debt service (1)	$	11,845	$	794	$	288	$	788	$	973	$	242	$	8,760
Unconditional purchase obligations (2)	2,370		1,463		373		317		98		21		98
Gross unrecognized tax benefits and interest – current (3)	2		2		—		—		—		—		—
Transition Tax payable(4)	146		65		81		—		—		—		—
Total contractual obligations(5)	$	14,363	$	2,324	$	742	$	1,105	$	1,071	$	263	$	8,858

(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 2025, 2026, 2027, 2028, 2029 and thereafter are projected to be $293 million, $288 million, $288 million, $273 million, $242 million and $2,509 million, respectively. Projected interest costs on variable rate instruments were calculated using market rates at June 30, 2024.

(2)Unconditional purchase obligations primarily include: inventory commitments, information technology contract commitments, deferred consideration, advertising commitments and royalty payments pursuant to license agreements. Future royalty and advertising commitments were estimated based on planned future sales for the term that was in effect at June 30, 2024, without consideration for potential renewal periods.

(3)Refer to Note 9 – Income Taxes for information regarding unrecognized tax benefits. As of June 30, 2024, the noncurrent portion of the Company’s unrecognized tax benefits, including related accrued interest and penalties, was $80 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, 2024.

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