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EMPLOYEE BENEFIT PLANS (Tables)
12 Months Ended
Jun. 30, 2023
Retirement Benefits [Abstract]  
Summary of Retirement Income and Retirement Health Care Plans 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
2023202220232022
Change in benefit obligations:
Benefit obligation as of beginning of year$513 $621 $28 $36 
Service cost— — 
Interest cost18 15 
Actuarial loss (gain)(11)(66)(1)(7)
Plan amendments— (7)— — 
Translation and other adjustments— (6)— — 
Plan settlement— (13)— — 
Benefits paid(45)(32)(2)(2)
Benefit obligation as of end of year$476 $513 $26 $28 
Change in plan assets:
Fair value of assets as of beginning of year$412 $506 $— $— 
Actual return on plan assets— (63)— — 
Employer contributions15 15 
Plan Settlement— (13)— — 
Benefits paid(45)(32)(2)(2)
Translation and other adjustments(1)(1)— — 
Fair value of plan assets as of end of year381 412 — — 
Accrued benefit cost, net funded status$(95)$(101)$(26)$(28)
Schedule of Amounts Recognized in the Balance Sheets
Amount recognized in the balance sheets consists of:
Pension benefit assets$24 $30 $— $— 
Current accrued benefit liability(13)(12)(2)(2)
Non-current accrued benefit liability(106)(119)(24)(26)
Accrued benefit cost, net$(95)$(101)$(26)$(28)
Schedule of Accumulated Benefit Obligations or Projected 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
2023202220232022
Projected benefit obligation$119 $133 $121 $133 
Accumulated benefit obligation118 132 119 132 
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
202320222021202320222021
Service cost$$$$— $— $— 
Interest cost18 15 15 
Expected return on plan assets(10)(15)(16)— — — 
Settlement loss recognized— — — — 
Amortization of unrecognized items     11 (2)(1)(2)
Total$17 $17 $17 $(1)$— $(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, 2023 consisted of:
Retirement
Income
Retirement
Health Care
Net actuarial loss (gain)$213 $(14)
Prior service benefit(5)— 
Net deferred income tax (assets) liabilities(50)
Accumulated other comprehensive loss (income)$158 $(11)
Net Actuarial Loss (Gain) Recorded in Accumulated Other Comprehensive Net (Loss) Income Net actuarial loss (gain) recorded in Accumulated other comprehensive net (loss) income for the fiscal year ended June 30, 2023 included the following:
Retirement
Income
Retirement
Health Care
Net actuarial loss (gain) as of beginning of year$222 $(15)
Amortization during the year(9)
Loss (gain) during the year— (1)
Net actuarial loss (gain) as of end of year$213 $(14)
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
2023202220232022
Discount rate4.37 %3.72 %5.10 %4.65 %
Rate of compensation increase3.62 %3.09 %n/an/a
Interest crediting rate2.67 %2.69 %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
202320222021
Discount rate3.72 %2.56 %2.45 %
Rate of compensation increase3.09 %3.02 %2.92 %
Expected return on plan assets2.67 %3.00 %3.08 %
Interest crediting rate2.69 %2.57 %1.92 %
Retirement Health Care
202320222021
Discount rate4.65 %2.61 %2.51 %
Schedule of Expected Benefit Payments Expected benefit payments for the Company’s retirement income and retirement health care plans as of June 30, 2023, were as follows:
Retirement
Income
Retirement
Health Care
2024$358 $
202515 
202615 
202714 
202813 
Fiscal years 2029 through 203352 10 
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
2023202220232022
Fixed income80 %100 %79 %99 %
Cash equivalents20 %— %21 %%
Total100 %100 %100 %100 %
The following table sets forth the retirement income plans’ assets carried at fair value as of June 30:
20232022
Cash equivalents — Level 1740
Total assets in the fair value hierarchy740
Common collective trusts measured at net asset value
Bond funds$289 $391 
International equity funds15 14 
Domestic equity funds— — 
Short-term investment fund
Real estate fund
Total common collect trust measured at net asset value$307 $412 
Total assets at fair value$381 $412