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STOCK-BASED COMPENSATION PLANS (Tables)
 12 Months Ended
Jun. 30, 2017
Share-based Compensation [Abstract]  
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs
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:
 
2017
 
2016
 
2015
Cost of products sold
$
7

 
$
6

 
$
4

Selling and administrative expenses
40

 
35

 
25

Research and development costs
4

 
4

 
3

Total compensation costs
$
51

 
$
45

 
$
32

 
 
 
 
 
 
Related income tax benefit
$
19

 
$
17

 
$
12
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The fair value of each stock option award granted during fiscal years 2017, 2016 and 2015 was estimated on the date of grant using the Black-Scholes valuation model and assumptions noted in the following table:
 
2017
 
2016
 
2015
Expected life
5.5 years
 
5.6 years
 
5.6 to 5.8 years
Weighted-average expected life
5.5 years
 
5.6 years
 
5.7 years
Expected volatility
16.2% to 16.9%
 
16.4% to 17.3%
 
16.3% to 18.6%
Weighted-average volatility
16.9%
 
17.2%
 
16.6%
Risk-free interest rate
1.3% to 2.2%
 
1.3% to 1.7%
 
1.4% to 2.0%
Weighted-average risk-free interest rate
1.3%
 
1.7%
 
1.9%
Dividend yield
2.4% to 2.8%
 
2.5% to 2.8%
 
2.8% to 3.4%
Weighted-average dividend yield
2.6%
 
2.8%
 
3.3%
Schedule of Share-based Compensation, Stock Options, 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, 2016
6,827

 
$
85

 
7 years
 
$
366

Granted
1,318

 
123

 
 
 
 
Exercised
(1,115
)
 
75

 
 
 
 
Canceled
(123
)
 
112

 
 
 
 
Options outstanding as of June 30, 2017
6,907

 
$
93

 
6 years
 
$
277

Options vested as of June 30, 2017
3,835

 
$
80

 
5 years
 
$
204
Schedule of Share-based Compensation, Restricted Stock Units 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, 2016
13

 
$
108

Granted
10

 
132

Vested
(4
)
 
110

Forfeited
(1
)
 
96

Restricted stock awards as of June 30, 2017
18

 
$
120
Share-based Compensation, Performance Shares Award Outstanding 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, 2016
952

 
$
90

Granted
253

 
123

Distributed
(35
)
 
59

Forfeited
(308
)
 
87

Performance unit awards as of June 30, 2017
862

 
$
102

 
 
 
 
Performance units vested and deferred as of June 30, 2017
—

 
$
—