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DERIVATIVE FINANCIAL INSTRUMENTS - Gain (Loss) on Derivative Financial Instruments (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended
--- | --- | ---
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018
Gain (loss) on derivative financial instruments |  |  |  |
Amount of Gain or (Loss) Recognized in OCI on Derivatives | $ (53) | $ 13 | $ (39) | $ 16
Derivatives in Cash Flow Hedging Relationships |  |  |  |
Gain (loss) on derivative financial instruments |  |  |  |
Amount of Gain or (Loss) Recognized in OCI on Derivatives | (16) | 13 | (5) | 16
Amount of Gain or (Loss) Reclassified from AOCI into Earnings | 6 | 4 | 19 | 7
Current debt | Derivatives in Fair Value Hedging Relationships |  |  |  |
Gain (loss) on derivative financial instruments |  |  |  |
Carrying Amount of the Hedged Liabilities | 250 |  | 250 |
Long-term debt |  |  |  |
Gain (loss) on derivative financial instruments |  |  |  |
Cumulative Amount of Fair Value Hedging Gain/(Loss) Included in the Carrying Amount of the Hedged Liability |  |  | 2 |
Long-term debt | Derivatives in Fair Value Hedging Relationships |  |  |  |
Gain (loss) on derivative financial instruments |  |  |  |
Carrying Amount of the Hedged Liabilities | 701 |  | 701 |
Total debt |  |  |  |
Gain (loss) on derivative financial instruments |  |  |  |
Cumulative Amount of Fair Value Hedging Gain/(Loss) Included in the Carrying Amount of the Hedged Liability |  |  | 2 |
Total debt | Derivatives in Fair Value Hedging Relationships |  |  |  |
Gain (loss) on derivative financial instruments |  |  |  |
Carrying Amount of the Hedged Liabilities | 951 |  | 951 |
Net Sales |  |  |  |
Gain (loss) on derivative financial instruments |  |  |  |
Total amounts of income and expense line items presented in the consolidated statements of earnings in which the effects of fair value and cash flow hedges are recorded | 4,624 | 4,005 | 8,519 | 7,529
Interest expense |  |  |  |
Gain (loss) on derivative financial instruments |  |  |  |
Total amounts of income and expense line items presented in the consolidated statements of earnings in which the effects of fair value and cash flow hedges are recorded | 38 | 35 | 70 | 69
Foreign currency forward contracts | Derivatives in Cash Flow Hedging Relationships |  |  |  |
Gain (loss) on derivative financial instruments |  |  |  |
Amount of Gain or (Loss) Recognized in OCI on Derivatives | (21) | 13 | 4 | 16
Foreign currency forward contracts | Net investment hedges |  |  |  |
Gain (loss) on derivative financial instruments |  |  |  |
Amount of Gain or (Loss) Recognized in OCI on Derivatives |  |  | (34) |
Amount of Gain or (Loss) Recognized in OCI on Derivatives | (37) |  |  |
Foreign currency forward contracts | Net Sales | Derivatives in Cash Flow Hedging Relationships |  |  |  |
Gain (loss) on derivative financial instruments |  |  |  |
Amount of Gain or (Loss) Reclassified from AOCI into Earnings | 6 | 4 | 19 | 7
Interest rate-related derivatives | Derivatives in Cash Flow Hedging Relationships |  |  |  |
Gain (loss) on derivative financial instruments |  |  |  |
Amount of Gain or (Loss) Recognized in OCI on Derivatives | 5 |  | (9) |
Interest rate-related derivatives | Interest expense | Derivatives in Fair Value Hedging Relationships |  |  |  |
Gain (loss) on derivative financial instruments |  |  |  |
Amount of Gain or (Loss) Recognized in Earnings on Derivatives | (1) | 11 | 1 | 9
Interest rate swap contracts | Interest expense | Derivatives in Fair Value Hedging Relationships |  |  |  |
Gain (loss) on derivative financial instruments |  |  |  |
Amount of Gain or (Loss) Recognized in Earnings on Derivatives | (1) | 11 | 1 | 9
Net investment hedges |  |  |  |
Gain (loss) on derivative financial instruments |  |  |  |
Gain recognized in earnings related to the amount excluded from effectiveness testing | 13 |  | 25 |
Derivatives Designated as Hedging Instruments | Interest rate-related derivatives | Interest expense | Derivatives in Fair Value Hedging Relationships |  |  |  |
Gain (loss) on derivative financial instruments |  |  |  |
Amount of Gain or (Loss) Recognized in Earnings on Derivatives | 1 | (11) | (1) | (9)
Derivatives Not Designated as Hedging Instruments | Foreign currency forward contracts | Selling, general and administrative |  |  |  |
Gain (loss) on derivative financial instruments |  |  |  |
Amount of Gain or (Loss) Recognized in Earnings on Derivatives | $ 30 | $ (12) | $ 3 | $ 10

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- Definition Amount of gain (loss) from excluded component of derivative hedge, recognized in earnings. Excludes recognition under systematic and rational method. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 20 -Section 45 -Paragraph 1A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=109974929&loc=SL110061172-113977 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 + Details
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