COMPREHENSIVE INCOME

3 Months Ended

Sep. 30, 2013

COMPREHENSIVE INCOME [Abstract]

COMPREHENSIVE INCOME

NOTE 6. COMPREHENSIVE INCOME

Comprehensive income is defined as net earnings and other changes in stockholders' equity from transactions and other events from sources other than stockholders. Comprehensive income was as follows:

	Three Months Ended
	9/30/2013			9/30/2012
Net earnings	$	136		$	133
Other comprehensive (loss) income:
Foreign currency translation adjustments, net of tax of $1 and $3, respectively		4			27
Net unrealized losses on derivatives, net of tax of $1 and $1, respectively		(1	)		(1	)
Pension and postretirement benefit adjustments, net of tax of $2 and $0, respectively		(4	)		1
Total other comprehensive (loss) income, net of tax		(1	)		27
Comprehensive income	$	135		$	160

On February 5, 2013, the Financial Accounting Standards Board (FASB) issued an update to current accounting standards related to disclosures of reclassifications out of accumulated other comprehensive income. The presentation requirements were adopted by the Company effective July 1, 2013 and are reflected below.

Changes in accumulated other comprehensive net losses by component were as follows:

	Foreign currency translation adjustments			Net unrealized losses on derivatives			Pension and postretirement benefit adjustments			Total
Balance as of June 30, 2013, net of tax	$	(209	)	$	(30	)	$	(128	)	$	(367	)
Other comprehensive income (loss)
before reclassifications		4			(1	)		(5	)		(2	)
Amounts reclassified from accumulated other
comprehensive net losses		-			-			1			1
Net other comprehensive income (loss)		4			(1	)		(4	)		(1	)
Balance as of September 30, 2013, net of tax	$	(205	)	$	(31	)	$	(132	)	$	(368	)

Pension and postretirement benefit reclassification adjustments are reflected in cost of products sold and selling and administrative expenses.