STOCK-BASED COMPENSATION PLANS (Tables)

12 Months Ended

Jun. 30, 2016

Share-based Compensation [Abstract]

Schedule of Stock-based Compensation

Compensation cost and the related income tax benefit recognized for stock-based compensation plans were classified as indicated below for the fiscal years ended June 30:

	2016		2015		2014
Cost of products sold	$	6	$	4	$	4
Selling and administrative expenses		35		25		29
Research and development costs		4		3		3
Total compensation cost	$	45	$	32	$	36
Related income tax benefit	$	17	$	12	$	13

Schedule of Stock Option Valuation Assumptions

The fair value of each stock option award granted during fiscal years 2016, 2015 and 2014 was estimated on the date of grant using the Black-Scholes valuation model and assumptions noted in the following table:

	2016	2015	2014
Expected life	5.6 years	5.6 to 5.8 years	5.7 years
Weighted-average expected life	5.6 years	5.7 years	5.7 years
Expected volatility	16.43% to 17.3%	16.3% to 18.6%	18.4% to 18.5%
Weighted-average volatility	17.2%	16.6%	18.5%
Risk-free interest rate	1.3% to 1.7%	1.4% to 2.0%	1.8% to 1.9%
Weighted-average risk-free interest rate	1.7%	1.9%	1.8%
Dividend yield	2.5% to 2.8%	2.8% to 3.4%	3.4%
Weighted-average dividend yield	2.8%	3.3%	3.4%

Summary of Stock Option Activity

Details of the Company’s stock option activities are summarized below:

	Number of Shares (In thousands)		Weighted- Average Exercise Price per Share		Average Remaining Contractual Life	Aggregate Intrinsic Value
Options outstanding as of June 30, 2015	8,357		$	76	7 years	$	236
Granted	1,317			112
Exercised	(2,633	)		69
Cancelled	(214	)		95
Options outstanding as of June 30, 2016	6,827		$	85	7 years	$	366
Options vested as of June 30, 2016	3,555		$	74	5 years	$	228

Summary of Restricted Stock Award Activity

A summary of the status of the Company’s restricted stock awards is presented below:

	Number of Shares (In thousands)		Weighted-Average Grant Date Fair Value per Share
Restricted stock awards as of June 30, 2015	18		$	91
Granted	5			129
Vested	(9	)		88
Forfeited	(1	)		106
Restricted stock awards as of June 30, 2016	13		$	108

Summary of Performance Units Award Activity

A summary of the status of the Company’s performance unit awards is presented below:

	Number of Shares (In thousands)		Weighted-Average Grant Date Fair Value per Share
Performance unit awards as of June 30, 2015	1,123		$	79
Granted	286			92
Distributed	(377	)		70
Forfeited	(80	)		87
Performance unit awards as of June 30, 2016	952		$	90
Performance units vested and deferred as of June 30, 2016	157		$	58