LEASES

12 Months Ended

Jun. 30, 2021

Leases [Abstract]

LEASES

LEASES

The Company leases various property, plant and equipment, including office, warehousing, manufacturing and research and development facilities and equipment. These leases have remaining lease terms of up to 36 years, inclusive of renewal or termination options that the Company is reasonably certain to exercise. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants.

Supplemental balance sheet information related to the Company’s leases as of June 30 was as follows:

	Balance sheet classification	2021		2020
Operating leases
Right-of-use assets	Operating lease right-of-use assets	$	332	$	291
Current lease liabilities	Current operating lease liabilities	$	81	$	64
Non-current lease liabilities	Long-term operating lease liabilities	301		278
Total operating lease liabilities		$	382	$	342
Finance leases
Right-of-use assets	Other assets	$	19	$	14
Current lease liabilities	Accounts payable and accrued liabilities	$	5	$	2
Non-current lease liabilities	Other liabilities	15		12
Total finance lease liabilities		$	20	$	14

Components of lease cost were as follows for the fiscal years ended June 30:

	2021		2020
Operating lease cost	$	73	$	73
Finance lease cost:
Amortization of right-of-use assets	$	4	$	4
Interest on lease liabilities	—		—
Total finance lease cost	$	4	$	4
Variable lease cost	$	39	$	39
Short term lease cost	$	2	$	1

Supplemental cash flow information and non-cash activity related to the Company’s leases were as follows during fiscal years ended June 30:

	2021		2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases, net	$	75	$	54
Operating cash flows from finance leases	—		—
Financing cash flows from finance leases	3		2
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	106	$	38
Finance leases	7		8

Weighted-average remaining lease term and discount rate for the Company’s leases were as follows as of fiscal year ended June 30:

	2021
Weighted-average remaining lease term:
Operating leases	7 years
Finance leases	5 years
Weighted-average discount rate:
Operating leases	2.2	%
Finance leases	3.3	%

Maturities of lease liabilities by fiscal year for the Company’s leases as of June 30, 2021 were as follows:

Year	Operating leases		Finance leases
2022	$	85	$	6
2023	68		5
2024	58		3
2025	50		2
2026	43		2
Thereafter	107		4
Total lease payments	$	411	$	22
Less: Imputed interest	(29)		(2)
Total lease liabilities	$	382	$	20

Operating and finance lease payments presented in the table above exclude $32 and $5, respectively, of minimum lease payments signed but not yet commenced as of June 30, 2021.

LEASES

LEASES

The Company leases various property, plant and equipment, including office, warehousing, manufacturing and research and development facilities and equipment. These leases have remaining lease terms of up to 36 years, inclusive of renewal or termination options that the Company is reasonably certain to exercise. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants.

Supplemental balance sheet information related to the Company’s leases as of June 30 was as follows:

	Balance sheet classification	2021		2020
Operating leases
Right-of-use assets	Operating lease right-of-use assets	$	332	$	291
Current lease liabilities	Current operating lease liabilities	$	81	$	64
Non-current lease liabilities	Long-term operating lease liabilities	301		278
Total operating lease liabilities		$	382	$	342
Finance leases
Right-of-use assets	Other assets	$	19	$	14
Current lease liabilities	Accounts payable and accrued liabilities	$	5	$	2
Non-current lease liabilities	Other liabilities	15		12
Total finance lease liabilities		$	20	$	14

Components of lease cost were as follows for the fiscal years ended June 30:

	2021		2020
Operating lease cost	$	73	$	73
Finance lease cost:
Amortization of right-of-use assets	$	4	$	4
Interest on lease liabilities	—		—
Total finance lease cost	$	4	$	4
Variable lease cost	$	39	$	39
Short term lease cost	$	2	$	1

Supplemental cash flow information and non-cash activity related to the Company’s leases were as follows during fiscal years ended June 30:

	2021		2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases, net	$	75	$	54
Operating cash flows from finance leases	—		—
Financing cash flows from finance leases	3		2
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	106	$	38
Finance leases	7		8

Weighted-average remaining lease term and discount rate for the Company’s leases were as follows as of fiscal year ended June 30:

	2021
Weighted-average remaining lease term:
Operating leases	7 years
Finance leases	5 years
Weighted-average discount rate:
Operating leases	2.2	%
Finance leases	3.3	%

Maturities of lease liabilities by fiscal year for the Company’s leases as of June 30, 2021 were as follows:

Year	Operating leases		Finance leases
2022	$	85	$	6
2023	68		5
2024	58		3
2025	50		2
2026	43		2
Thereafter	107		4
Total lease payments	$	411	$	22
Less: Imputed interest	(29)		(2)
Total lease liabilities	$	382	$	20

Operating and finance lease payments presented in the table above exclude $32 and $5, respectively, of minimum lease payments signed but not yet commenced as of June 30, 2021.