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LEASES (Tables)
6 Months Ended
Dec. 31, 2019
LEASES  
Summary of total lease costs and other information

    

Three Months Ended

 

    

Six Months Ended

 

(In millions)

December 31, 2019

 

December 31, 2019

 

Total lease cost

 

  

 

  

Finance lease cost:

Amortization of right-of-use assets

$

3

$

6

Interest on lease liabilities

 

 

Operating lease cost

 

115

 

233

Short-term lease cost

 

9

 

15

Variable lease cost

 

49

 

92

Total

$

176

$

346

Other information

 

  

 

  

Cash paid for amounts included in the measurement of lease liabilities

 

 

Operating cash flows from operating leases

$

242

Financing cash flows from finance leases

$

8

Right-of-use assets obtained in exchange for new operating lease liabilities

$

110

Weighted-average remaining lease term – finance leases

 

 

2

years

Weighted-average remaining lease term – operating leases

 

 

11

years

Weighted-average discount rate – finance leases

 

 

2.7

%

Weighted-average discount rate – operating leases

 

 

2.5

%

Schedule of total future minimum lease payments, over the remaining lease term, relating to operating leases

(In millions)

    

Operating Leases

    

Finance Leases

Remainder of fiscal 2020

$

219

$

6

Fiscal 2021

 

393

 

7

Fiscal 2022

 

347

 

3

Fiscal 2023

 

310

 

1

Fiscal 2024

 

286

 

Thereafter

 

1,559

 

Total future minimum lease payments

 

3,114

 

17

Less imputed interest

 

(427)

 

Total

$

2,687

$

17

Schedule of total future minimum lease payments, over the remaining lease term, relating to finance leases

(In millions)

    

Operating Leases

    

Finance Leases

Remainder of fiscal 2020

$

219

$

6

Fiscal 2021

 

393

 

7

Fiscal 2022

 

347

 

3

Fiscal 2023

 

310

 

1

Fiscal 2024

 

286

 

Thereafter

 

1,559

 

Total future minimum lease payments

 

3,114

 

17

Less imputed interest

 

(427)

 

Total

$

2,687

$

17

Schedule of operating lease and finance lease liabilities included in the consolidated balance sheet

December 31, 2019

(In millions)

    

Operating Leases

    

Finance Leases

Total current liabilities

$

369

$

10

Total noncurrent liabilities

 

2,318

 

7

Total

$

2,687

$

17

Scheduled maturities of the Company's contractual obligations relating to operating leases for which cash flows are fixed and determinable

(In millions)

    

Payments Due in Fiscal Year(1)

Fiscal 2020

$

421

Fiscal 2021

 

383

Fiscal 2022

 

348

Fiscal 2023

 

316

Fiscal 2024

 

289

Thereafter

 

1,625

Total contractual obligations

$

3,382

(1)Minimum operating lease commitments only include base rent. Certain leases provide for contingent rents that are not measurable at inception and primarily include rents based on a percentage of sales in excess of stipulated levels, as well as common area maintenance. These amounts are excluded from minimum operating lease commitments and are included in the determination of total rent expense when it is probable that the expense has been incurred and the amount is reasonably measurable. Such amounts have not been material to total rent expense.