Pension and Other Postretirement Benefits

9 Months Ended

Mar. 31, 2021

Compensation And Retirement Disclosure [Abstract]

Pension and Other Postretirement Benefits

NOTE 9. PENSION AND OTHER POSTRETIREMENT BENEFITS

The Company participates in and/or sponsors various pension, savings and postretirement benefit plans. Pension plans and postretirement benefit plans are closed to new participants with the exception of a small group covered by collective bargaining agreements. The net periodic benefit cost was $17 million and $14 million for the three months ended March 31, 2021 and 2020, respectively, and $51 million and $41 million for the nine months ended March 31, 2021 and 2020, respectively.