XML 25 R14.htm IDEA: XBRL DOCUMENT
v3.22.1

PENSION AND POST-RETIREMENT BENEFIT PLANS | 9 Months Ended
--- | ---
Mar. 31, 2022
Retirement Benefits [Abstract] |
PENSION AND POST-RETIREMENT BENEFIT PLANS | PENSION AND POST-RETIREMENT BENEFIT PLANS The Company maintains pension plans covering substantially all of its full-time employees for its U.S. operations and a majority of its international operations. The Company also maintains post-retirement benefit plans that provide certain medical and dental benefits to eligible employees. Descriptions of these plans are included in the notes to consolidated financial statements in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2021. The components of net periodic benefit cost for the three months ended March 31, 2022 and 2021 consisted of the following:
|  | Pension Plans |  | Other than Pension Plans
|  | U.S. |  | International |  | Post-retirement
(In millions) |  | 2022 |  | 2021 |  | 2022 |  | 2021 |  | 2022 |  | 2021
Service cost |  | $ | 12 |  |  | $ | 12 |  |  | $ | 8 |  |  | $ | 9 |  |  | $ | 1 |  |  | $ | 2 |
Interest cost |  | 8 |  |  | 8 |  |  | 3 |  |  | 2 |  |  | 1 |  |  | 1 |
Expected return on plan assets |  | (14) |  |  | (14) |  |  | (4) |  |  | (4) |  |  | — |  |  | (1) |
Amortization of: |  |  |  |  |  |  |  |  |  |  |  |
Actuarial loss |  | 4 |  |  | 5 |  |  | — |  |  | 1 |  |  | — |  |  | — |
Prior service cost |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Settlements |  | — |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | — |
Special termination benefits |  | — |  |  | — |  |  | 1 |  |  | 1 |  |  | — |  |  | — |
Net periodic benefit cost |  | $ | 10 |  |  | $ | 11 |  |  | $ | 8 |  |  | $ | 10 |  |  | $ | 2 |  |  | $ | 2 |
The components of net periodic benefit cost for the nine months ended March 31, 2022 and 2021 consisted of the following:
|  | Pension Plans |  | Other than Pension Plans
|  | U.S. |  | International |  | Post-retirement
(In millions) |  | 2022 |  | 2021 |  | 2022 |  | 2021 |  | 2022 |  | 2021
Service cost |  | $ | 35 |  |  | $ | 34 |  |  | $ | 24 |  |  | $ | 27 |  |  | $ | 2 |  |  | $ | 2 |
Interest cost |  | 23 |  |  | 23 |  |  | 8 |  |  | 7 |  |  | 4 |  |  | 4 |
Expected return on plan assets |  | (41) |  |  | (40) |  |  | (11) |  |  | (10) |  |  | (1) |  |  | (1) |
Amortization of: |  |  |  |  |  |  |  |  |  |  |  |
Actuarial loss |  | 11 |  |  | 15 |  |  | 1 |  |  | 3 |  |  | 1 |  |  | — |
Prior service cost |  | — |  |  | — |  |  | (1) |  |  | — |  |  | — |  |  | — |
Settlements |  | — |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | — |
Special termination benefits |  | — |  |  | — |  |  | 4 |  |  | 10 |  |  | — |  |  | — |
Net periodic benefit cost |  | $ | 28 |  |  | $ | 32 |  |  | $ | 25 |  |  | $ | 38 |  |  | $ | 6 |  |  | $ | 5 |
During the nine months ended March 31, 2022, the Company made contributions to its international pension plans totaling $17 million. The amounts recognized in the consolidated balance sheets related to the Company’s pension and post-retirement benefit plans consist of the following:
(In millions) |  | March 31, 2022 |  | June 30, 2021
Other assets |  | $ | 142 |  |  | $ | 162 |
Other accrued liabilities |  | (28) |  |  | (28) |
Other noncurrent liabilities |  | (426) |  |  | (432) |
Funded status |  | (312) |  |  | (298) |
Accumulated other comprehensive loss |  | 229 |  |  | 242 |
Net amount recognized |  | $ | (83) |  |  | $ | (56) |

X
- References No definition available. + Details
Name: | us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for retirement benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 55 -Paragraph 17 -URI http://asc.fasb.org/extlink&oid=123450688&loc=d3e4179-114921 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section S99 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=21916913&loc=d3e273930-122802 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(i) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (o) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (p) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 70 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=49170846&loc=d3e28014-114942 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -URI http://asc.fasb.org/topic&trid=2235017 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 60 -Section 50 -Paragraph 3 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6414203&loc=d3e39689-114964 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(iv)(03) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (q) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (r)(1) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(iii) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (l) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (r)(2) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration