RESTRUCTURING AND RELATED COSTS

6 Months Ended

Dec. 31, 2024

Restructuring and Related Activities [Abstract]

Beginning in the first quarter of fiscal year 2023, the Company recognized costs related to a plan that involves streamlining its operating model to meet its objectives of driving growth and productivity. The implementation of this new model was completed in fiscal year 2024 and is expected to enhance the Company’s ability to respond more quickly to changing consumer behaviors and innovate faster.

The total restructuring and related implementation costs, net associated with the Company’s streamlined operating model are reflected in the condensed consolidated statements of earnings and comprehensive income.

Restructuring and related implementation costs for both the three and six months ended December 31, 2023 were $3, recorded within Selling and administrative expenses.

The following table reconciles the accrual for the streamlined operating model’s restructuring and related implementation costs discussed above, which are recorded within Accounts payable and accrued liabilities in the condensed consolidated balance sheets:


	Employee-Related Costs		Other		Total
Accrual Balance as of June 30, 2024	$	8	$	11	$	19


Cash payments	(7)		(11)		(18)

Accrual Balance as of December 31, 2024	$	1	$	—	$	1

The Company may, from time to time, decide to pursue additional restructuring-related initiatives that involve costs in future periods.

Refer to Notes to Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended June 30, 2024 for further information related to the streamlined operating model.