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ACQUISITION OF BUSINESS (Tables) | 12 Months Ended
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Jun. 30, 2020
Business Combinations [Abstract] |
Summary of total purchase price and gain recognized | A summary of the total purchase price and the total gain recognized in Other income, net in the consolidated statements of earnings is as follows:
(In millions) |  | December 18, 2019 |  | Measurement Period Adjustments |  | June 30, 2020
Purchase price |  |  |  |  |  |
Purchase price |  | $ | 1,268 |  |  | $ | (32) |  |  | $ | 1,236 |
Fair value of previously held equity method investment |  | 682 |  |  | (22) |  |  | 660 |
Write-off of call option relating to previously held equity method investment |  | 4 |  |  | — |  |  | 4 |
Total purchase price |  | $ | 1,954 |  |  | $ | (54) |  |  | $ | 1,900 |
|  | For the Six Months Ended December 31, 2019 |  | Measurement Period Adjustments |  | For the Year Ended June 30, 2020
Gains recognized in the consolidated statement of earnings |  |  |  |  |  |
Gain on previously held equity method investment |  | $ | 549 |  |  | $ | (19) |  |  | $ | 530 |
Recognition of a previously unrealized foreign currency gain |  | 4 |  |  | — |  |  | 4 |
Total gain on previously held equity method investment |  | 553 |  |  | (19) |  |  | 534 |
Foreign currency gain on cash |  | 23 |  |  | — |  |  | 23 |
Total Other income, net |  | $ | 576 |  |  | $ | (19) |  |  | $ | 557 |
Rollforward of final allocation of total consideration | The rollforward of the final allocation of the total consideration transferred as of December 18, 2019 to allocation as of June 30, 2020 is as follows:
(In millions, unaudited) |  | December 18, 2019 |  | Measurement Period Adjustments |  | June 30, 2020
Cash |  | $ | 228 |  |  | $ | 1 |  |  | $ | 229 |
Accounts receivable |  | 48 |  |  | (35) |  |  | 13 |
Inventory |  | 83 |  |  | 5 |  |  | 88 |
Other current assets |  | 5 |  |  | (1) |  |  | 4 |
Property, plant and equipment |  | 3 |  |  | — |  |  | 3 |
Right-of-use assets |  | 3 |  |  | — |  |  | 3 |
Intangible assets |  | 1,427 |  |  | 232 |  |  | 1,659 |
Goodwill |  | 556 |  |  | (210) |  |  | 346 |
Other long-term assets |  | 3 |  |  | 1 |  |  | 4 |
Total assets acquired |  | 2,356 |  |  | (7) |  |  | 2,349 |
Accounts payable |  | 27 |  |  | (13) |  |  | 14 |
Other accrued liabilities |  | 22 |  |  | 5 |  |  | 27 |
Deferred income taxes |  | 352 |  |  | 55 |  |  | 407 |
Lease liability |  | 1 |  |  | — |  |  | 1 |
Total liabilities assumed |  | 402 |  |  | 47 |  |  | 449 |
Total consideration transferred |  | $ | 1,954 |  |  | $ | (54) |  |  | $ | 1,900 |

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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=116869197&loc=d3e4845-128472 + Details
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