Leases (Tables)

12 Months Ended

Jun. 30, 2021

Leases [Abstract]

Schedule of Lease Costs

The following table summarizes the components of lease cost:

(in millions)	2021		2020
Operating lease cost	$	119	$	134
Finance lease cost	16		13
Variable lease cost	24		17
Total lease cost	$	159	$	164

Variable lease cost primarily includes payments for property taxes, maintenance and insurance.

Leases Supplemental Balance Sheet Information

The following table summarizes supplemental balance sheet and other information related to leases at June 30:

(in millions)	2021			2020
Operating Leases
Operating lease right-of-use assets	$	460		$	426
Current portion of operating lease liabilities	105			104
Long-term operating lease liabilities	374			341
Total operating lease liabilities	479			445
Finance Leases
Finance lease right-of-use assets	63			33
Current portion of finance lease liabilities	19			9
Long-term finance lease liabilities	45			25
Total finance lease liabilities	$	64		$	34
Weighted-average remaining lease term (years)
Operating leases	6.5 years			6.4 years
Finance leases	4.2 years			4.3 years
Weighted-average discount rate
Operating leases	2.9		%	2.9		%
Finance leases	1.5		%	2.4		%

Leases Supplemental Cash Flow Information

The following tables summarizes supplemental cash flow information related to leases:

(in millions)	2021		2020
Cash paid for lease liabilities:
Operating cash flows paid for operating leases	$	115	$	125
Financing cash flows paid for finance leases	15		7
Non-cash right-of-use assets obtained in exchange for lease obligations:
New operating leases	138		150
New finance leases	45		40
Amended lease standard adoption impact as of July 1, 2019 (1)	—		400

(1)Includes the effect of $22 million from reclassifying deferred rent as an offset to the lease right-of-use asset in accordance with the transition guidance.

Schedule of Future Lease Payments

Future lease payments under non-cancellable leases as of June 30, 2021 were as follows:

(in millions)	Operating Leases		Finance Leases		Total
2022	$	116	$	20	$	136
2023	93		20		113
2024	72		14		86
2025	65		8		73
2026	50		3		53
Thereafter	141		5		146
Total future lease payments	537		70		607
Less: leases not yet commenced (1)	3		—		3
Less: imputed interest	55		6		61
Total lease liabilities	$	479	$	64	$	543

(1)As of June 30, 2021, we had certain leases that were executed but did not have control of the underlying assets; therefore, the lease liabilities and right-of-use assets are not recorded in the consolidated balance sheet.