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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 9 Months Ended
Mar. 31, 2022
Accounting Policies [Abstract]  
Schedule of inventory and promotional merchandise Inventory and promotional merchandise consists of the following:
(In millions)March 31, 2022June 30, 2021
Raw materials
$778 $674 
Work in process
336 330 
Finished goods
1,454 1,213 
Promotional merchandise
262 288 
$2,830 $2,505 
Schedule of property, plant and equipment Property, plant and equipment consists of the following:
(In millions)March 31, 2022June 30, 2021
Assets (Useful Life)
Land
$56 $55 
Buildings and improvements (10 to 40 years)
496 256 
Machinery and equipment (3 to 10 years)
992 920 
Computer hardware and software (4 to 10 years)
1,428 1,303 
Furniture and fixtures (5 to 10 years)
129 125 
Leasehold improvements
2,307 2,312 
Construction in progress589 647 
5,997 5,618 
Less accumulated depreciation and amortization
(3,504)(3,338)
$2,493 $2,280 
Schedule of effective rate for income taxes
The effective rate for income taxes for the three and nine months ended March 31, 2022 and 2021 are as follows:

Three Months Ended
March 31		Nine Months Ended
March 31
2022202120222021
Effective rate for income taxes18.5 %21.0 %21.1 %18.5 %
Basis-point change from the prior-year period(250)260 
Schedule of other accrued liabilities Other accrued liabilities consist of the following:
(In millions)March 31, 2022June 30, 2021
Advertising, merchandising and sampling$322 $294 
Employee compensation582 670 
Deferred revenue313 322 
Payroll and other non-income taxes321 359 
Accrued income taxes299 237 
Other1,450 1,313 
$3,287 $3,195