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Income Taxes (Tables)
12 Months Ended
Jun. 30, 2025
Income Tax Disclosure [Abstract]  
Schedule of Income Before Income Taxes
Income before income taxes was derived from the following sources:
202520242023
United States$2,514 $2,120 $1,408 
Foreign1,593 1,475 1,272 
Total$4,107 $3,595 $2,680 
Schedule of Income Taxes
Income taxes include the following:
202520242023
Federal
  Current$424 $328 $161 
  Deferred(98)11 81 
Foreign
  Current374 355 297 
  Deferred(154)16 (13)
State and local
  Current81 34 46 
  Deferred(52)24 
Total$575 $750 $596 
Schedule of Reconciliation of Effective Income Tax Rate to Statutory Federal Rate
A reconciliation of the effective income tax rate to the statutory federal rate follows:
202520242023
Statutory federal income tax rate21.0 %21.0 %21.0 %
State and local income taxes0.6 0.9 2.1 
Tax related to international activities(2.8)2.3 1.2 
Cash surrender value of life insurance(0.1)(0.1)(0.1)
Foreign derived intangible income deduction(1.3)(1.5)(1.1)
Research tax credit(0.4)(0.6)(0.7)
Share-based compensation(1.2)(1.2)(1.0)
Other(1.8)0.1 0.8 
Effective income tax rate14.0 %20.9 %22.2 %
Schedule of Differences Comprising the Net Deferred Taxes The differences comprising the net deferred taxes shown on the Consolidated Balance Sheet at June 30 were as follows:
20252024
Retirement benefits$27 $124 
Other liabilities and reserves189 214 
Long-term contracts41 45 
Stock-based compensation38 34 
Loss carryforwards114 1,064 
Inventory70 68 
Capitalized research and development172 146 
Tax credit carryforwards45 36 
Unrealized currency exchange gains and losses5 (18)
Undistributed foreign earnings(32)(30)
Depreciation and amortization(1,748)(2,104)
Valuation allowance(141)(1,070)
Net deferred tax (liability)$(1,220)$(1,491)
Change in net deferred tax (liability):
Provision for deferred tax$304 $(32)
Items of other comprehensive (loss) income(44)(24)
Acquisitions and other11 133 
Total change in net deferred tax$271 $77 
Schedule of Changes in Deferred Tax Asset Valuation Allowance
The following schedule presents the changes in deferred tax asset valuation allowance as follows:
Balance at
Beginning
of Period
(Deductions)/Additions
Charged to
Costs and
Expenses
Other
(Deductions)/
Additions(1)
Balance
at End
of Period
Deferred tax asset valuation allowance:
Year ended June 30, 2023$902 $163 $13 $1,078 
Year ended June 30, 20241,078 (10)1,070 
Year ended June 30, 20251,070 (929)— 141 
(1) The balance primarily represents adjustments due to acquisitions.
Schedule of Reconciliation of Unrecognized Tax Benefits
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:
202520242023
Balance July 1$102 $114 $91 
Additions for tax positions related to current year6 
Additions for tax positions of prior years19 — 
Additions for acquisitions 26 
Reductions for tax positions of prior years (5)(3)
Reductions for settlements — (7)
Reductions for expiration of statute of limitations(27)(15)(11)
Effect of foreign currency translation4 (2)
Balance June 30$104 $102 $114