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DERIVATIVE FINANCIAL INSTRUMENTS - Gain (Loss) on Derivative Financial Instruments (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended
--- | --- | ---
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2020 | Mar. 31, 2019
Gain (loss) on derivative financial instruments |  |  |  |
Amount of Gain or (Loss) Recognized in OCI on Derivatives | $ 24 | $ 2 | $ (15) | $ 18
Cash flow hedges |  |  |  |
Gain (loss) on derivative financial instruments |  |  |  |
Amount of Gain or (Loss) Recognized in OCI on Derivatives, Cash Flow Hedging | 44 | 2 | 39 | 18
Amount of Gain or (Loss) Reclassified from AOCI into Earnings | 10 | 9 | 29 | 16
Current debt |  |  |  |
Gain (loss) on derivative financial instruments |  |  |  |
Cumulative Amount of Fair Value Hedging Gain/(Loss) Included in the Carrying Amount of the Hedged Liability |  |  | 0 |
Current debt | Derivatives in fair value hedging relationships |  |  |  |
Gain (loss) on derivative financial instruments |  |  |  |
Carrying Amount of the Hedged Liabilities | 0 |  | 0 |
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 |  |  | 14 |
Long-term debt | Derivatives in fair value hedging relationships |  |  |  |
Gain (loss) on derivative financial instruments |  |  |  |
Carrying Amount of the Hedged Liabilities | 713 |  | 713 |
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 |  |  | 14 |
Total debt | Derivatives in fair value hedging relationships |  |  |  |
Gain (loss) on derivative financial instruments |  |  |  |
Carrying Amount of the Hedged Liabilities | 713 |  | 713 |
Net sales |  |  |  |
Gain (loss) on derivative financial instruments |  |  |  |
Total amounts of income and expense line items presented in the consolidated statements of earnings (loss) in which the effects of fair value and cash flow hedges are recorded | 3,345 | 3,744 | 11,864 | 11,273
Interest expense |  |  |  |
Gain (loss) on derivative financial instruments |  |  |  |
Total amounts of income and expense line items presented in the consolidated statements of earnings (loss) in which the effects of fair value and cash flow hedges are recorded | 42 | 32 | 112 | 101
Foreign currency forward contracts | Cash flow hedges |  |  |  |
Gain (loss) on derivative financial instruments |  |  |  |
Amount of Gain or (Loss) Recognized in OCI on Derivatives, Cash Flow Hedging | 46 | 2 | 50 | 18
Foreign currency forward contracts | Net investment hedges |  |  |  |
Gain (loss) on derivative financial instruments |  |  |  |
Amount of Gain or (Loss) Recognized in OCI on Derivatives, Net Investment Hedging | (20) | 0 | (54) | 0
Foreign currency forward contracts | Net sales | Cash flow hedges |  |  |  |
Gain (loss) on derivative financial instruments |  |  |  |
Amount of Gain or (Loss) Reclassified from AOCI into Earnings | 10 | 8 | 29 | 15
Interest rate-related derivatives | Cash flow hedges |  |  |  |
Gain (loss) on derivative financial instruments |  |  |  |
Amount of Gain or (Loss) Recognized in OCI on Derivatives, Cash Flow Hedging | (2) | 0 | (11) | 0
Interest rate-related derivatives | Interest expense | Cash flow hedges |  |  |  |
Gain (loss) on derivative financial instruments |  |  |  |
Amount of Gain or (Loss) Reclassified from AOCI into Earnings | 0 | 1 | 0 | 1
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 | (12) | (8) | (13) | (17)
Net investment hedges |  |  |  |
Gain (loss) on derivative financial instruments |  |  |  |
Gain recognized in earnings related to the amount excluded from effectiveness testing | 12 |  | 37 |
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 | 12 | 8 | 13 | 17
Amount of Gain or (Loss) Recognized in Earnings on Derivatives | 12 | 8 | 13 | 17
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 | $ 49 | $ (12) | $ 52 | $ (2)

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