INCOME TAXES (Tables)

12 Months Ended

Jun. 30, 2022

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

Earnings before income taxes consisted of the following:

Years ended June 30	2022		2021		2020
United States	$	11,698	$	10,858	$	10,338
International	6,297		6,757		5,496
TOTAL	$	17,995	$	17,615	$	15,834

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

Income taxes consisted of the following:

Years ended June 30	2022		2021		2020
CURRENT TAX EXPENSE
U.S. federal	$	1,916	$	1,663	$	1,266
International	1,333		1,534		1,769
U.S. state and local	355		324		292
TOTAL	3,604		3,521		3,327
DEFERRED TAX EXPENSE/(BENEFIT)
U.S. federal	(320)		(65)		39
International and other	(82)		(193)		(635)
TOTAL	(402)		(258)		(596)
TOTAL TAX EXPENSE	$	3,202	$	3,263	$	2,731

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

A reconciliation of the U.S. federal statutory income tax rate to our actual effective income tax rate is provided below:

Years ended June 30	2022		2021		2020
U.S. federal statutory income tax rate	21.0	%	21.0	%	21.0	%
Country mix impacts of foreign operations	(0.3)	%	(0.5)	%	(0.1)	%
State income taxes, net of federal benefit	1.5	%	1.3	%	1.4	%
Excess tax benefits from the exercise of stock options	(2.0)	%	(1.6)	%	(1.6)	%
Tax benefit from simplification of legal entity structure	—	%	—	%	(1.4)	%
Foreign derived intangible income deduction (FDII)	(1.1)	%	(1.0)	%	(1.0)	%
Changes in uncertain tax positions	(0.4)	%	(0.1)	%	0.1	%
Other	(0.9)	%	(0.6)	%	(1.2)	%
EFFECTIVE INCOME TAX RATE	17.8	%	18.5	%	17.2	%

Summary of Income Tax Contingencies [Table Text Block]

A reconciliation of the beginning and ending liability for uncertain tax positions is as follows:

Years ended June 30	2022		2021		2020
BEGINNING OF YEAR	$	627	$	485	$	466
Increases in tax positions for prior years	102		157		60
Decreases in tax positions for prior years	(118)		(34)		(21)
Increases in tax positions for current year	53		60		82
Settlements with taxing authorities	(42)		(26)		(83)
Lapse in statute of limitations	(17)		(24)		(12)
Currency translation	(22)		9		(7)
END OF YEAR	$	583	$	627	$	485

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

Deferred income tax assets and liabilities were comprised of the following:

As of June 30	2022		2021
DEFERRED TAX ASSETS
Loss and other carryforwards	914		1,030
Pension and other retiree benefits	$	740	$	1,476
Capitalized research & development	646		358
Accrued marketing and promotion	420		424
Stock-based compensation	386		386
Fixed assets	209		223
Lease liabilities	185		196
Unrealized loss on financial and foreign exchange transactions	138		109
Advance payments	82		—
Inventory	41		31
Accrued interest and taxes	22		22
Other	717		878
Valuation allowances	(409)		(569)
TOTAL	$	4,091	$	4,564
DEFERRED TAX LIABILITIES
Goodwill and intangible assets	$	5,783	$	5,761
Fixed assets	1,542		1,512
Other retiree benefits	1,031		645
Unrealized gain on financial and foreign exchange transactions	439		111
Lease right-of-use assets	179		191
Foreign withholding tax on earnings to be repatriated	70		108
Other	244		175
TOTAL	$	9,288	$	8,503