INVENTORIES

12 Months Ended

Jun. 30, 2017

Inventory, Net [Abstract]

INVENTORIES

INVENTORIES

Inventories are summarized below:

	2017		2016
	(In millions)
Unbilled costs and accrued earnings on fixed-price contracts	$	454	$	436
Finished products	96		129
Work in process	96		110
Raw materials and supplies	195		192
	$	841	$	867

Unbilled costs and accrued earnings on fixed-price contracts were net of progress payments of $90 million and $91 million at June 30, 2017 and July 1, 2016, respectively.