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EMPLOYEE BENEFIT PLANS (Tables)
12 Months Ended
Jun. 30, 2024
Retirement Benefits [Abstract]  
Schedule 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
2024202320242023
Change in benefit obligations:
Benefit obligation as of beginning of year$476 $513 $26 $28 
Service cost— — 
Interest cost12 18 
Actuarial loss (gain)(26)(11)(2)(1)
Plan amendments— — (4)— 
Plan settlement(312)— — — 
Benefits paid(26)(45)(2)(2)
Translation and other adjustments(2)— — — 
Benefit obligation as of end of year$123 $476 $19 $26 
Change in plan assets:
Fair value of assets as of beginning of year$381 $412 $— $— 
Actual return on plan assets(13)— — — 
Employer contributions15 15 
Plan settlement
(312)— — — 
Benefits paid(26)(45)(2)(2)
Transfer to domestic defined contribution plan
(19)— — — 
Translation and other adjustments(1)(1)— — 
Fair value of plan assets as of end of year25 381 — — 
Accrued benefit cost, net funded status$(98)$(95)$(19)$(26)
Schedule of Amounts Recognized in Balance Sheets
Amount recognized in the balance sheets consists of:
Pension benefit assets$$24 $— $— 
Current accrued benefit liability(12)(13)(2)(2)
Non-current accrued benefit liability(93)(106)(17)(24)
Accrued benefit cost, net$(98)$(95)$(19)$(26)
Schedule of Retirement Income Plans with ABO or PBO in Excess of Plan Assets
Retirement income plans with ABO or PBO in excess of plan assets as of June 30 were as follows:
ABO Exceeds the Fair Value of Plan AssetsPBO Exceeds the Fair Value of Plan Assets
2024202320242023
Projected benefit obligation$105 $119 $108 $121 
Accumulated benefit obligation104 118 105 119 
Fair value of plan assets— — 
Schedule of Components of Net Periodic Benefit Cost
The net cost of the retirement income and health care plans for the fiscal years ended June 30 included the following components:
Retirement IncomeRetirement Health Care
202420232022202420232022
Service cost$$$$— $— $— 
Interest cost12 18 15 
Expected return on plan assets(2)(10)(15)— — — 
Amortization of unrecognized items     (2)(2)(1)
Curtailment gain recognized
(6)— — — — — 
Settlement loss recognized179 — — — — 
Total$187 $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, 2024 consisted of:
Retirement
Income
Retirement
Health Care
Net actuarial loss (gain)$20 $(14)
Prior service benefit— (4)
Net deferred income tax (assets) liabilities(5)
Accumulated other comprehensive loss (income)$15 $(14)
Schedule of 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, 2024 included the following:
Retirement
Income
Retirement
Health Care
Net actuarial loss (gain) as of beginning of year$213 $(14)
Amortization, curtailment and settlement during the year
(182)
Loss (gain) during the year(11)(2)
Net actuarial loss (gain) as of end of year$20 $(14)
Schedule of Weighted Average Assumptions Used to Estimate the Actuarial Present Value of Benefit Obligations and Retirement Income and Retirement Health Care Costs
Weighted-average assumptions used to estimate the actuarial present value of benefit obligations were as follows as of June 30:
Retirement IncomeRetirement Health Care
2024202320242023
Discount rate5.52 %4.37 %5.38 %5.10 %
Rate of compensation increase3.23 %3.62 %n/an/a
Interest crediting rate5.40 %2.67 %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
202420232022
Discount rate4.63 %3.72 %2.56 %
Rate of compensation increase3.20 %3.09 %3.02 %
Expected return on plan assets3.39 %2.67 %3.00 %
Interest crediting rate2.69 %2.69 %2.57 %
Retirement Health Care
202420232022
Discount rate5.10 %4.65 %2.61 %
Schedule of Expected Benefit Payments
Expected benefit payments for the Company’s retirement income and retirement health care plans as of June 30, 2024, were as follows:
Retirement
Income
Retirement
Health Care
2025$15 $
202614 
202713 
202813 
202912 
Fiscal years 2030 through 203448 
Schedule of Target Allocation and Weighted Average Allocation of Plan Assets and Retirement Income Plans Assets Carried at Fair Value
The target allocations and weighted average asset allocations by asset category of the investment portfolio for the Company’s qualified domestic retirement income plans as of June 30, 2023, prior to its termination, were as follows:
% Target Allocation% of Plan Asset
Fixed income80 %79 %
Cash equivalents20 %21 %
Total100 %100 %
The following table sets forth the retirement income plans’ assets carried at fair value as of June 30:
20242023
Cash equivalents — Level 1$— $74 
Total assets in the fair value hierarchy— 74 
Common collective trusts measured at net asset value
Bond funds$$289 
International equity funds16 15 
Domestic equity funds— — 
Short-term investment fund— 
Real estate fund
Other
— 
Total common collect trust measured at net asset value$25 $307 
Total assets at fair value$25 $381