DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Jun. 30, 2018

Schedule of fair values of the derivative financial instruments included in the consolidated balance sheets

	Asset Derivatives					Liability Derivatives
(In millions)	Balance Sheet Location	Fair Value (1)				Balance Sheet Location	Fair Value (1)
		June 30					June 30
		2018		2017			2018		2017
Derivatives Designated as Hedging Instruments:
Foreign currency forward contracts	Prepaid expenses and other current assets	$	30	$	7	Other accrued liabilities	$	5	$	44

Interest rate swap contracts	Prepaid expenses and other current assets	—		3		Other accrued liabilities	26		3


Total Derivatives Designated as Hedging Instruments		30		10			31		47


Derivatives Not Designated as Hedging Instruments:
Foreign currency forward contracts	Prepaid expenses and other current assets	3		3		Other accrued liabilities	8		2


Total Derivatives		$	33	$	13		$	39	$	49

(1) See Note 12 – Fair Value Measurements for further information about how the fair value of derivative assets and liabilities are determined.

Schedule of gains and losses related to derivative financial instruments designated as hedging instruments

(In millions)	Amount of Gain or (Loss) Recognized in OCI on Derivatives (Effective Portion)					Location of Gain or (Loss) Reclassified from AOCI into Earnings (Effective Portion)	Amount of Gain or (Loss) Reclassified from AOCI into Earnings (Effective Portion) (1)
	June 30						June 30
	2018		2017				2018			2017
Derivatives in Cash Flow Hedging Relationships:

Foreign currency forward contracts	$	12	$	(18	)	Cost of sales	$	(22	)	$	10
						Selling, general and administrative	(24		)	30
Interest rate-related derivatives	—		5			Interest expense	1			1

Total derivatives	$	12	$	(13	)		$	(45	)	$	41

(1) The amount of gain recognized in earnings related to the amount excluded from effectiveness testing was $3 million for fiscal 2018 and 2017. There was no gain (loss) recognized in earnings related to the ineffective portion of the hedging relationships for fiscal 2018. The gain (loss) recognized in earnings related to the ineffective portion of the hedging relationships was de minimis for fiscal 2017.

(In millions)	Location of Gain or (Loss) Recognized in Earnings on Derivatives	Amount of Gain or (Loss) Recognized in Earnings on Derivatives (1)
		June 30
		2018			2017
Derivatives in Fair Value Hedging Relationships:

Interest rate swap contracts	Interest expense	$	(26	)	$	(18	)

(1) Changes in the fair value of the interest rate swap agreements are exactly offset by the change in the fair value of the underlying long-term debt.

Schedule of gains and losses related to derivative financial instruments not designated as hedging instruments

(In millions)	Location of Gain or (Loss) Recognized in Earnings on Derivatives	Amount of Gain or (Loss) Recognized in Earnings on Derivatives
		June 30
		2018			2017
Derivatives Not Designated as Hedging Instruments:

Foreign currency forward contracts	Selling, general and administrative	$	(6	)	$	(2	)