ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)

12 Months Ended

Jun. 30, 2024

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]

Schedule of components of AOCI, net of tax

The components of AOCI included in the accompanying consolidated balance sheets consist of the following:

	Year Ended June 30
(In millions)	2024		2023		2022
Net derivative instruments, beginning of year	$	44	$	68	$	(2)
Gain on derivative instruments (1)	79		48		93
Provision for income taxes	(18)		(11)		(21)
Reclassification to earnings during the year:
Foreign currency forward contracts (2)	(50)		(71)		(3)
Interest rate-related derivatives (3)	—		1		1
Cross-currency swap contracts (1)(4)	(19)		(9)		—
Benefit for income taxes on reclassification (5)	16		18		—
Net derivative instruments, end of year	52		44		68
Net pension and post-retirement adjustments, beginning of year	(177)		(114)		(179)
Changes in plan assets and benefit obligations:
Net actuarial gains (losses) recognized	(27)		(79)		71
Prior service credit recognized	25		—		(1)
Translation adjustments	1		(1)		—
Benefit (provision) for income taxes	—		17		(18)
Amortization and settlements included in net periodic benefit cost (6):
Net actuarial gains (losses)	(4)		—		18
Net prior service cost	(3)		(1)		(1)
Settlements	—		1		—
Benefit (provision) for income taxes on reclassification (5)	2		—		(4)
Net pension and post-retirement adjustments, end of year	(183)		(177)		(114)
Cumulative translation adjustments, beginning of year	(801)		(716)		(289)
Translation adjustments (7)	(129)		(112)		(409)
Purchase of shares from redeemable noncontrolling interest (8)	(73)		—		—
Benefit (provision) for income taxes	(6)		27		(18)
Cumulative translation adjustments, end of year	(1,009)		(801)		(716)
Accumulated other comprehensive loss	$	(1,140)	$	(934)	$	(762)

(1)Includes the gain recognized in AOCI from cross-currency swap contracts which represents the amount excluded from effectiveness testing.

(2)Amounts recorded in Net Sales in the accompanying consolidated statements of earnings.

(3)Amounts recorded in Interest expense in the accompanying consolidated statements of earnings.

(4)Amounts recorded in Selling, general and administrative in the accompanying consolidated statements of earnings.

(5)Amounts recorded in Provision for income taxes in the accompanying consolidated statements of earnings.

(6)Reclassification adjustments for pension and post-retirement plans is recorded in Other components of net periodic benefit cost in the accompanying consolidated statements of earnings.

(7)See Note 13 – Derivative Financial Instruments for gains (losses) relating to net investment hedges.

(8)Upon purchase of the remaining interest in DECIEM during the fourth quarter of fiscal 2024, the cumulative amount of translation adjustments were reallocated from redeemable noncontrolling interest back to the Company.