FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Mar. 31, 2016

			3/31/2016				6/30/2015
	Balance sheet classification	Fair value hierarchy level	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Assets
Investments including money market	Cash and cash
funds	equivalents ^(a)	1	$	232	$	232	$	212	$	212
	Cash and cash
Time deposits	equivalents ^(a)	2		86		86		84		84
Commodity purchase derivative contracts	Other current assets	1		3		3		-		-
Foreign exchange derivative contracts	Other current assets	2		-		-		1		1
Trust assets for nonqualified deferred	Other assets	1		50		50		38		38
compensation plans
			$	371	$	371	$	335	$	335

Liabilities
	Notes and loans
Notes and loans payable	payable ^(b)	2	$	432	$	432	$	95	$	95
Commodity purchase derivative contracts	Accrued liabilities	2		5		5		8		8
Foreign exchange derivative contracts	Accrued liabilities	2		3		3		-		-
Foreign exchange derivative contracts	Other liabilities	2		1		1		-		-

	Current maturities of
Current maturities of long-term	long-term debt and
debt and Long-term debt	Long-term debt ^(c)	2		1,796		1,885		2,096		2,137

			$	2,237	$	2,326	$	2,199	$	2,240

____________________

(a)	Cash and cash equivalents are composed of time deposits and other interest bearing investments including money market funds with original maturity dates of 90 days or less. Cash and cash equivalents are recorded at cost, which approximates fair value.
(b)	Notes and loans payable is composed of U.S. commercial paper and/or other similar short-term debts issued by non-U.S. subsidiaries, all of which are recorded at cost, which approximates fair value.
(c)	Current maturities of long-term debt and Long-term debt are recorded at cost. The fair value of long-term debt, including current maturities, is determined using secondary market prices quoted by corporate bond dealers, and is classified as Level 2.

	Gains (losses) recognized in comprehensive income
	Three Months Ended						Nine Months Ended
	3/31/2016			3/31/2015			3/31/2016			3/31/2015
Commodity purchase derivative contracts	$	3		$	-		$	(4	)	$	(16	)
Interest rate derivative contracts		-			-			-			(12	)
Foreign exchange derivative contracts		(9	)		2			(4	)		7
Total	$	(6	)	$	2		$	(8	)	$	(21	)

	Gains (losses) reclassified from accumulated other comprehensive loss and recognized in net earnings
	Three Months Ended						Nine Months Ended
	3/31/2016			3/31/2015			3/31/2016			3/31/2015
Commodity purchase derivative contracts	$	(4	)	$	(3	)	$	(9	)	$	(3	)
Interest rate derivative contracts		(2	)		-			(5	)		(3	)
Foreign exchange derivative contracts		1			-			1			-
Total	$	(5	)	$	(3	)	$	(13	)	$	(6	)