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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 9 Months Ended
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Mar. 31, 2021
Accounting Policies [Abstract] |
Schedule of inventory and promotional merchandise | Inventory and promotional merchandise consists of the following:
(In millions) |  | March 31 2021 |  | June 30 2020
Raw materials |  | $ | 551 |  |  | $ | 542 |
Work in process |  | 282 |  |  | 305 |
Finished goods |  | 1,078 |  |  | 995 |
Promotional merchandise |  | 223 |  |  | 220 |
|  | $ | 2,134 |  |  | $ | 2,062 |
Schedule of property, plant and equipment | Property, plant and equipment consists of the following:
(In millions) |  | March 31 2021 |  | June 30 2020
Assets (Useful Life) |  |  |  |
Land |  | $ | 56 |  |  | $ | 33 |
Buildings and improvements (10 to 40 years) |  | 467 |  |  | 400 |
Machinery and equipment (3 to 10 years) |  | 946 |  |  | 865 |
Computer hardware and software (4 to 10 years) |  | 1,374 |  |  | 1,335 |
Furniture and fixtures (5 to 10 years) |  | 121 |  |  | 120 |
Leasehold improvements |  | 2,397 |  |  | 2,381 |
|  | 5,361 |  |  | 5,134 |
Less accumulated depreciation and amortization |  | (3,255) |  |  | (3,079) |
|  | $ | 2,106 |  |  | $ | 2,055 |
Schedule of effective rate for income taxes | The effective rate for income taxes for the three and nine months ended March 31, 2021 and 2020 are as follows:
| Three Months Ended March 31 |  | Nine Months Ended March 31
| 2021 |  | 2020 |  | 2021 |  | 2020
Effective rate for income taxes | 21.0 | % |  | 105.0 | % |  | 18.5 | % |  | 30.0 | %
Basis-point change from the prior-year period | (8,400) |  |  |  |  | (1,150) |  |  |
Schedule of other accrued liabilities | Other accrued liabilities consist of the following:
(In millions) |  | March 31 2021 |  | June 30 2020
Advertising, merchandising and sampling |  | $ | 299 |  |  | $ | 256 |
Employee compensation |  | 534 |  |  | 424 |
Deferred revenue |  | 310 |  |  | 222 |
Payroll and other taxes |  | 287 |  |  | 250 |
Accrued income taxes |  | 327 |  |  | 208 |
Sales return accrual |  | 270 |  |  | 212 |
Other |  | 1,050 |  |  | 833 |
|  | $ | 3,077 |  |  | $ | 2,405 |

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