Leases

12 Months Ended

Jun. 30, 2024

Leases [Abstract]

Leases

6. Leases

The following table summarizes the components of lease cost:

(in millions)	2024		2023		2022
Operating lease cost	$	120	$	112	$	117
Finance lease cost	39		31		23
Variable lease cost	31		21		13
Total lease cost	$	190	$	164	$	153

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

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

(in millions)	2024			2023
Operating Leases
Operating lease right-of-use assets	$	475		$	435
Current portion of operating lease liabilities	117			100
Long-term operating lease liabilities	400			375
Total operating lease liabilities	517			475
Finance Leases
Finance lease right-of-use assets	102			82
Current portion of finance lease liabilities	33			27
Long-term finance lease liabilities	75			59
Total finance lease liabilities	$	108		$	86
Weighted-average remaining lease term (years)
Operating leases	5.5 years			5.7 years
Finance leases	4.1 years			4.1 years
Weighted-average discount rate
Operating leases	4.1		%	3.6		%
Finance leases	4.4		%	3.1		%

Operating leases are included in other assets, other accrued liabilities and deferred income taxes and other liabilities in our consolidated balance sheets. Finance leases are included in property and equipment, net, current portion of long-term obligations and other short-term borrowings and long-term obligations, less current portion in our consolidated balance sheets.

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

(in millions)	2024		2023		2022
Cash paid for lease liabilities:
Operating cash flows paid for operating leases	$	124	$	119	$	123
Financing cash flows paid for finance leases	36		31		21
Non-cash right-of-use assets obtained in exchange for lease obligations:
New operating leases	143		75		101
New finance leases	55		42		28

Future lease payments under non-cancellable leases as of June 30, 2024 were as follows:

(in millions)	Operating Leases		Finance Leases		Total
2025	$	134	$	37	$	171
2026	114		30		144
2027	96		22		118
2028	78		13		91
2029	52		7		59
Thereafter	102		9		111
Total future lease payments	576		118		694
Less: imputed interest	59		10		69
Total lease liabilities	$	517	$	108	$	625