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EMPLOYEE BENEFIT PLANS (Tables)
12 Months Ended
Jun. 30, 2021
Retirement Benefits [Abstract]  
Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan
Summarized information for the Company’s retirement income and retirement health care plans as of and for the fiscal years ended June 30 is as follows:
Retirement
Income
Retirement
Health Care
2021202020212020
Change in benefit obligations:
Benefit obligation as of beginning of year$628 $604 $36 $34 
Service cost— — 
Interest cost15 20 
Actuarial loss (gain)12 43 — 
Plan amendments— — — — 
Translation and other adjustments(1)— 
Plan settlement(12)— — — 
Benefits paid(32)(39)(2)(3)
Benefit obligation as of end of year$621 $628 $36 $36 
Change in plan assets:
Fair value of assets as of beginning of year$507 $485 $— $— 
Actual return on plan assets26 48 — — 
Employer contributions15 13 
Benefits paid(44)(39)(2)(3)
Translation and other adjustments— — — 
Fair value of plan assets as of end of year506 507 — — 
Accrued benefit cost, net funded status$(115)$(121)$(36)$(36)
Schedule of Amounts Recognized in the Balance Sheets
Amount recognized in the balance sheets consists of:
Pension benefit assets$61 $52 $— $— 
Current accrued benefit liability(12)(11)(2)(2)
Non-current accrued benefit liability(164)(162)(34)(34)
Accrued benefit cost, net$(115)$(121)$(36)$(36)
Schedule of Accumulated Benefit Obligations in Excess of Plan Assets
Retirement income plans with ABO or PBO in excess of plan assets as of June 30 were as follows:
ABO Exceeds the Fair Value of Plan AssetsPBO Exceeds the Fair Value of Plan Assets
2021202020212020
Projected benefit obligation$176 $172 $178 $173 
Accumulated benefit obligation174 170 175 172 
Fair value of plan assets— — 
Schedule of Components of Net Periodic Benefit Cost
The net cost of the retirement income and health care plans for the fiscal years ended June 30 included the following components:
Retirement IncomeRetirement Health Care
202120202019202120202019
Service cost$$$$— $— $— 
Interest cost15 20 23 
Expected return on plan assets(16)(19)(18)— — — 
Settlement loss recognized— — — — — 
Amortization of unrecognized items     11 10 (2)(3)(3)
Total$17 $12 $15 $(1)$(2)$(1)
Schedule of Items Not Yet Recognized as a Component of Postretirement Expense
Items not yet recognized as a component of postretirement expense as of June 30, 2021, consisted of:
Retirement
Income
Retirement
Health Care
Net actuarial loss (gain)$226 $(10)
Prior service benefit— — 
Net deferred income tax (assets) liabilities(54)
Accumulated other comprehensive loss (income)$172 $(8)
Summary of Amounts Recognized in Accumulated Other Comprehensive Net Losses
Net actuarial loss (gain) recorded in Accumulated other comprehensive net (loss) income for the fiscal year ended June 30, 2021, included the following:
Retirement
Income
Retirement
Health Care
Net actuarial loss (gain) as of beginning of year$240 $(12)
Amortization during the year(16)
Loss (gain) during the year— 
Net actuarial loss (gain) as of end of year$226 $(10)
Schedule of Weighted Average Assumptions Used
Weighted-average assumptions used to estimate the actuarial present value of benefit obligations were as follows as of June 30:
Retirement IncomeRetirement Health Care
2021202020212020
Discount rate2.56 %2.45 %2.61 %2.51 %
Rate of compensation increase3.02 %2.92 %n/an/a
Interest crediting rate2.57 %1.9 %n/an/a
Weighted-average assumptions used to estimate the retirement income and retirement health care costs were as follows as of June 30:
Retirement Income
202120202019
Discount rate2.45 %3.41 %4.10 %
Rate of compensation increase2.92 %2.86 %2.87 %
Expected return on plan assets3.08 %3.95 %4.33 %
Interest crediting rate1.92 %3.01 %3.42 %
Retirement Health Care
202120202019
Discount rate2.51 %3.35 %4.01 %
Schedule of Expected Benefit Payments
Expected benefit payments for the Company’s retirement income and retirement health care plans as of June 30, 2021, were as follows:
Retirement
Income
Retirement
Health Care
2022$40 $
202353 
202439 
202538 
202638 
Fiscal years 2027 through 2031183 12 
Schedule of Target Allocation and Weighted Average Allocation of Plan Assets
The target allocations and weighted average asset allocations by asset category of the investment portfolio for the Company’s domestic retirement income plans as of June 30 were:
% Target Allocation% of Plan Assets
2021202020212020
U.S. equity%%%%
International equity%%%%
Fixed income95 %90 %94 %90 %
Other— %— %%— %
Total100 %100 %100 %100 %
The following table sets forth the retirement income plans’ assets carried at fair value as of June 30:
2021
Common collective trusts measured at net asset value
Bond funds$459 
International equity funds28 
Domestic equity funds14 
Short-term investment fund
Real estate fund
Total assets at fair value$506 

2020
Common collective trusts measured at net asset value
Bond funds$444 
International equity funds36 
Domestic equity funds23 
Short-term investment fund
Real estate fund
Total assets at fair value$507