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DEBT | 9 Months Ended
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Mar. 31, 2020
Debt Disclosure [Abstract] |
DEBT | NOTE 6 – DEBT In November 2019, the Company completed a public offering of $500 million aggregate principal amount of its 2.000% Senior Notes due December 1, 2024 (the “2024 Senior Notes”), $650 million aggregate principal amount of its 2.375% Senior Notes due December 1, 2029 (the “2029 Senior Notes”) and $650 million aggregate principal amount of its 3.125% Senior Notes due December 1, 2049 (the “2049 Senior Notes”). The Company used proceeds from this offering for general corporate purposes, including to fund the acquisition of Have & Be and refinance its $500 million aggregate principal amount of 1.80% Senior Notes that became due February 7, 2020. These recently issued notes are summarized as follows:
Notes |  | Issue Date |  | Price |  | Yield |  | Unamortized Debt Discount |  | Debt Issuance Costs |  | Semi-annual interest payments
($ in millions) |  |  |  |  |  |  |  |  |  |  |  |
2024 Senior Notes |  | November 2019 |  | 99.421 | % |  | 2.122 | % |  | $ | 3 |  |  | $ | 3 |  |  | June 1/December 1
2029 Senior Notes (1) |  | November 2019 |  | 99.046 |  |  | 2.483 |  |  | 6 |  |  | 4 |  |  | June 1/December 1
2049 Senior Notes |  | November 2019 |  | 98.769 |  |  | 3.189 |  |  | 8 |  |  | 7 |  |  | June 1/December 1
______________________________________________ (1)In April and May 2019, in anticipation of the issuance of the 2029 Senior Notes, the Company entered into a series of treasury lock agreements on a notional amount totaling $500 million at a weighted-average all-in rate of 2.50%. The treasury lock agreements were settled upon the issuance of the new debt, and the Company recognized a loss in OCI of $33 million that is being amortized to interest expense over the life of the 2029 Senior Notes. As a result of the treasury lock agreements, as well as the debt discount and debt issuance costs, the effective interest rate on the 2029 Senior Notes will be 3.15% over the life of the debt. In March 2020, the Company borrowed $1,300 million under its existing $1,500 million revolving credit facility, and had $200 million of commercial paper outstanding as of March 31, 2020.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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