INCOME TAXES (Tables)

12 Months Ended

Jun. 30, 2025

Income Tax Disclosure [Abstract]

Schedule of Provision for Income Taxes

The provision for income taxes, by tax jurisdiction, consisted of the following for the fiscal years ended June 30:

	2025		2024		2023
Current
Federal	$	165	$	132	$	153
State	39		18		33
Foreign	68		56		40
Total current	$	272	$	206	$	226
Deferred
Federal	$	(17)	$	(99)	$	(120)
State	(2)		(5)		(28)
Foreign	1		4		(1)
Total deferred	(18)		(100)		(149)
Total	$	254	$	106	$	77

Schedule of Components of Earnings Before Income Taxes

The components of Earnings before income taxes, by tax jurisdiction, consisted of the following for the fiscal years ended June 30:

	2025		2024		2023
United States	$	886	$	311	$	154
Foreign	192		87		84
Total	$	1,078	$	398	$	238

Schedule of Reconciliation of Effective Tax Rate

A reconciliation of the statutory federal income tax rate to the Company’s effective tax rate on operations follows for the fiscal years ended June 30:

	2025		2024		2023
Statutory federal tax rate	21.0	%	21.0	%	21.0	%
State taxes (net of federal tax benefits)	2.7		2.5		1.6
Foreign tax rate differential	2.6		7.7		8.6
Federal excess tax benefits	(0.3)		(0.3)		(1.8)
Net U.S. tax on foreign income	(0.5)		(5.2)		(2.3)
Loss on divestiture	2.3		10.5		—
International legal entity reorganization	(1.1)		(6.1)		—
VMS goodwill impairment	—		—		8.6
Federal research and development credits	(0.5)		(1.2)		(2.7)
Other differences	(2.6)		(2.4)		(0.6)
Effective tax rate	23.6	%	26.5	%	32.4	%

Schedule of Components of Net Deferred Tax Assets (Liabilities)

The components of net deferred tax assets (liabilities) as of June 30 are shown below:

	2025		2024
Deferred tax assets
Compensation and benefit programs	$	105	$	109
Loss and tax credit carryforwards	208		153
Operating and finance lease liabilities	106		111
Accruals and reserves	27		33
Capitalized research and development	63		43
Inventory costs	18		29
Other	33		33
Subtotal	560		511
Valuation allowance	(166)		(115)
Total deferred tax assets	$	394	$	396
Deferred tax liabilities
Property, plant and equipment and intangible assets	$	(115)	$	(84)
Lease right-of-use assets	(95)		(100)
Other	(37)		(36)
Total deferred tax liabilities	(247)		(220)
Net deferred tax assets (liabilities)	$	147	$	176
The net deferred tax assets and liabilities included in the consolidated balance sheet at June 30 were as follows:
	2025		2024
Net deferred tax assets (1)	$	167	$	198
Net deferred tax liabilities	(20)		(22)
Net deferred tax assets (liabilities)	$	147	$	176

(1)Net deferred tax assets are recorded in Other assets.

Summary of Changes in Valuation Allowance

Changes in the valuation allowance on deferred tax assets were as follows for the fiscal years ended June 30:

	2025		2024		2023
Valuation allowance at beginning of year	$	(115)	$	(59)	$	(52)
Net decrease/(increase) for U.S. capital loss carryforwards	(62)		(46)		—
Net decrease/(increase) for other foreign deferred tax assets	1		(2)		(1)
Net decrease/(increase) for foreign and U.S. net operating loss carryforwards and tax credits	10		(8)		(6)
Valuation allowance at end of year	$	(166)	$	(115)	$	(59)

Summary of Tax Credit Carryforwards

The Company's carryforwards for capital losses, net operating losses, and tax credits, with related valuation allowances were as follows as of June 30:

	2025
	Carryforwards		Valuation Allowances		Net Carryforwards		Fiscal Year Expiring
Capital losses in U.S. jurisdictions	108		(108)		—		2030
Net operating losses
U.S. jurisdictions	2		(2)		—		2031 - 2038
U.S. jurisdictions (with no expiration)	4		(3)		1		N/A
Foreign jurisdictions	16		(12)		4		2026 - 2039
Foreign jurisdictions (with no expiration)	7		—		7		N/A
Total net operating losses	29		(17)		12
Income tax credits
U.S. jurisdictions	33		—		33		2026 - 2035
U.S. jurisdictions (with no expiration)	2		—		2		N/A
Foreign jurisdictions	30		(30)		—		2026
Foreign jurisdictions (with no expiration)	6		(5)		1		N/A
Total income tax credits	71		(35)		36
Total carryforwards	$	208	$	(160)	$	48

	2024
	Carryforwards		Valuation Allowances		Net Carryforwards
Capital losses in U.S. jurisdictions	46		(46)		—
Net operating losses
U.S. jurisdictions	6		(5)		1
U.S. jurisdictions (with no expiration)	9		(8)		1
Foreign jurisdictions	18		(16)		2
Foreign jurisdictions (with no expiration)	8		—		8
Total net operating losses	41		(29)		12
Income tax credits
U.S. jurisdictions	30		—		30
U.S. jurisdictions (with no expiration)	2		—		2
Foreign jurisdictions	30		(30)		—
Foreign jurisdictions (with no expiration)	4		(3)		1
Total income tax credits	66		(33)		33
Total carryforwards	$	153	$	(108)	$	45

Summary of Operating Loss Carryforwards

The Company's carryforwards for capital losses, net operating losses, and tax credits, with related valuation allowances were as follows as of June 30:

	2025
	Carryforwards		Valuation Allowances		Net Carryforwards		Fiscal Year Expiring
Capital losses in U.S. jurisdictions	108		(108)		—		2030
Net operating losses
U.S. jurisdictions	2		(2)		—		2031 - 2038
U.S. jurisdictions (with no expiration)	4		(3)		1		N/A
Foreign jurisdictions	16		(12)		4		2026 - 2039
Foreign jurisdictions (with no expiration)	7		—		7		N/A
Total net operating losses	29		(17)		12
Income tax credits
U.S. jurisdictions	33		—		33		2026 - 2035
U.S. jurisdictions (with no expiration)	2		—		2		N/A
Foreign jurisdictions	30		(30)		—		2026
Foreign jurisdictions (with no expiration)	6		(5)		1		N/A
Total income tax credits	71		(35)		36
Total carryforwards	$	208	$	(160)	$	48

	2024
	Carryforwards		Valuation Allowances		Net Carryforwards
Capital losses in U.S. jurisdictions	46		(46)		—
Net operating losses
U.S. jurisdictions	6		(5)		1
U.S. jurisdictions (with no expiration)	9		(8)		1
Foreign jurisdictions	18		(16)		2
Foreign jurisdictions (with no expiration)	8		—		8
Total net operating losses	41		(29)		12
Income tax credits
U.S. jurisdictions	30		—		30
U.S. jurisdictions (with no expiration)	2		—		2
Foreign jurisdictions	30		(30)		—
Foreign jurisdictions (with no expiration)	4		(3)		1
Total income tax credits	66		(33)		33
Total carryforwards	$	153	$	(108)	$	45

Schedule of Unrecognized Tax Benefits Roll Forward

The following is a reconciliation of the beginning and ending amounts of the Company’s gross unrecognized tax benefits for the fiscal years ended June 30:

	2025		2024		2023
Unrecognized tax benefits at beginning of year	$	22	$	17	$	17
Gross increases - tax positions in prior periods	3		—		1
Gross decreases - tax positions in prior periods	(1)		(4)		(3)
Gross increases - current period tax positions	3		9		2
Unrecognized tax benefits at end of year	$	27	$	22	$	17