SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Dec. 31, 2016

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Inventory and Promotional Merchandise

	December 31		June 30
(In millions)	2016		2016
Raw materials	$	275	$	306
Work in process	140		177
Finished goods	691		622
Promotional merchandise	172		159
	$	1,278	$	1,264

Property, Plant and Equipment

	December 31			June 30
(In millions)	2016			2016
Assets (Useful Life)
Land	$	28		$	15
Buildings and improvements (10 to 40 years)	183			187
Machinery and equipment (3 to 10 years)	679			680
Computer hardware and software (4 to 15 years)	1,082			1,041
Furniture and fixtures (5 to 10 years)	89			84
Leasehold improvements	1,820			1,789
	3,881			3,796
Less accumulated depreciation and amortization	(2,318		)	(2,213		)
	$	1,563		$	1,583

Other Accrued Liabilities

	December 31		June 30
(In millions)	2016		2016
Advertising, merchandising and sampling	$	341	$	283
Employee compensation	368		504
Payroll and other taxes	242		163
Other	747		682
	$	1,698	$	1,632