DEBT

9 Months Ended

Mar. 31, 2025

Debt Disclosure [Abstract]

DEBT

DEBT

Short-term borrowings

The weighted average effective interest rate of notes and loans payable as of March 31, 2025 and June 30, 2024 was 4.59% and 5.60%, respectively.

Credit arrangements

On March 25, 2025, the Company entered into a new $1,200 revolving credit agreement (the Credit Agreement) that matures in March 2030. The Credit Agreement replaced a prior $1,200 revolving credit agreement (the Prior Credit Agreement) in place since March 2022. The Company did not incur any termination fees or penalties in connection with entering the new agreement, which was considered a debt modification. There were no borrowings under either the Credit Agreement or the Prior Credit Agreement as of March 31, 2025 and June 30, 2024, respectively, and the Company believes that borrowings under the new Credit Agreement will continue to be available for general corporate purposes. The Credit Agreement includes certain restrictive covenants and limitations consistent with the previous agreement, with which the Company was in compliance as of March 31, 2025