FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of financial assets and liabilities measured at fair value on a recurring basis

The following table presents the Company’s hierarchy for its financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2024:

(In millions)	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	1,154	$	—	$	—	$	1,154
Foreign currency forward contracts	—		118		—		118
Cross-currency swap contracts	—		88		—		88
Total	$	1,154	$	206	$	—	$	1,360
Liabilities:
Foreign currency forward contracts	$	—	$	52	$	—	$	52
Interest rate contracts	—		138		—		138
Cross-currency swap contracts	—		8		—		8
Total	$	—	$	198	$	—	$	198

The following table presents the Company’s hierarchy for its financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2024:

(In millions)	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	1,507	$	—	$	—	$	1,507
Foreign currency forward contracts	—		68		—		68
Cross-currency swap contracts	—		80		—		80
Total	$	1,507	$	148	$	—	$	1,655
Liabilities:
Foreign currency forward contracts	$	—	$	21	$	—	$	21
Interest rate contracts	—		145		—		145
Total	$	—	$	166	$	—	$	166

Schedule of estimated fair values of financial instruments

The estimated fair values of the Company’s financial instruments are as follows:

	December 31, 2024				June 30, 2024
(In millions)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Nonderivatives
Cash and cash equivalents	$	2,586	$	2,586	$	3,395	$	3,395
Current and long-term debt	7,280		6,636		7,771		7,174
Deferred consideration payable	341		342		341		340
Derivatives
Foreign currency forward contracts – asset (liability), net	66		66		47		47
Cross-currency swap contracts - asset (liability), net	80		80		80		80
Interest rate contracts – liability	(138)		(138)		(145)		(145)