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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Dec. 31, 2019

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of inventory and promotional merchandise

​

​	​	​	​	​	​	​	​
​	​	December 31		​	June 30		​
(In millions)		2019			2019
Raw materials		$	519		$	541	​
Work in process	​		237	​		268	​
Finished goods	​		1,101	​		981	​
Promotional merchandise	​		201	​		216	​
​		$	2,058		$	2,006	​

Schedule of property, plant and equipment

​

​	​	​	​	​	​	​	​
​	​	December 31		​	June 30		​
(In millions)		2019			2019
Assets (Useful Life)	​	​	​	​	​	​	​
Land		$	29		$	29	​
Buildings and improvements (10 to 40 years)	​		367	​		337	​
Machinery and equipment (3 to 10 years)	​		836	​		811	​
Computer hardware and software (4 to 10 years)	​		1,308	​		1,264	​
Furniture and fixtures (5 to 10 years)	​		117	​		116	​
Leasehold improvements	​		2,385	​		2,274	​
​	​		5,042	​		4,831	​
Less accumulated depreciation and amortization	​		(2,956)	​		(2,763)	​
​		$	2,086		$	2,068	​

​

Schedule of other accrued liabilities

​

​	​	​	​	​	​	​	​
​	​	December 31		​	June 30		​
(In millions)		2019			2019
Advertising, merchandising and sampling		$	416		$	352	​
Employee compensation	​		437	​		574	​
Deferred revenue	​	​	378	​	​	314	​
Payroll and other taxes	​		325	​		221	​
Accrued general and administrative expenses	​	​	256	​	​	195	​
Other	​		1,113	​		943	​
​		$	2,925		$	2,599	​

​

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Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
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Tabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process.

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