XML 72 R28.htm IDEA: XBRL DOCUMENT
v3.23.2

ACCUMULATED OTHER COMPREHENSIVE LOSS | 12 Months Ended
--- | ---
Jun. 30, 2023
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] |
ACCUMULATED OTHER COMPREHENSIVE LOSS | ACCUMULATED OTHER COMPREHENSIVE LOSS The components of AOCI included in the accompanying consolidated balance sheets consist of the following:
|  | Year Ended June 30
(In millions) |  | 2023 |  | 2022 |  | 2021
Net derivative instruments, beginning of year |  | $ | 68 |  |  | $ | (2) |  |  | $ | 14 |
Gain (loss) on derivative instruments (1) |  | 48 |  |  | 93 |  |  | (45) |
Benefit (provision) for deferred income taxes |  | (11) |  |  | (21) |  |  | 10 |
Reclassification to earnings during the year: |  |  |  |  |  |
Foreign currency forward contracts (2) |  | (71) |  |  | (3) |  |  | 22 |
Interest rate-related derivatives (3) |  | 1 |  |  | 1 |  |  | 2 |
Cross-currency swap contracts (1)(4) |  | (9) |  |  | — |  |  | — |
Benefit (provision) for deferred income taxes on reclassification (5) |  | 18 |  |  | — |  |  | (5) |
Net derivative instruments, end of year |  | 44 |  |  | 68 |  |  | (2) |
Net pension and post-retirement adjustments, beginning of year |  | (114) |  |  | (179) |  |  | (244) |
Changes in plan assets and benefit obligations: |  |  |  |  |  |
Net actuarial gains (losses) recognized |  | (79) |  |  | 71 |  |  | 60 |
Prior service credit recognized |  | — |  |  | (1) |  |  | (1) |
Translation adjustments |  | (1) |  |  | — |  |  | — |
Benefit (provision) for deferred income taxes |  | 17 |  |  | (18) |  |  | (12) |
Amortization and settlements included in net periodic benefit cost (6): |  |  |  |  |  |
Net actuarial losses |  | — |  |  | 18 |  |  | 24 |
Net prior service cost |  | (1) |  |  | (1) |  |  | (1) |
Settlements |  | 1 |  |  | — |  |  | — |
Provision for deferred income taxes on reclassification (5) |  | — |  |  | (4) |  |  | (5) |
Net pension and post-retirement adjustments, end of year |  | (177) |  |  | (114) |  |  | (179) |
Cumulative translation adjustments, beginning of year |  | (716) |  |  | (289) |  |  | (435) |
Reclassification to earnings during the year |  | — |  |  | — |  |  | (1) |
Translation adjustments (7) |  | (112) |  |  | (409) |  |  | 145 |
Benefit (provision) for deferred income taxes |  | 27 |  |  | (18) |  |  | 2 |
Cumulative translation adjustments, end of year |  | (801) |  |  | (716) |  |  | (289) |
Accumulated other comprehensive loss |  | $ | (934) |  |  | $ | (762) |  |  | $ | (470) |
(1)Includes the gain recognized in AOCI from cross-currency swap contracts which represents the amount excluded from effectiveness testing. (2)Amounts recorded in Net Sales in the accompanying consolidated statements of earnings. (3)Amounts recorded in Interest expense in the accompanying consolidated statements of earnings. (4)Amounts recorded in Selling, general and administrative in the accompanying consolidated statements of earnings. (5)Amounts recorded in Provision for income taxes in the accompanying consolidated statements of earnings. (6)See Note 15 – Pension, Deferred Compensation and Post-Retirement Benefit Plans for additional information. (7)See Note 12 – Derivative Financial Instruments for gains (losses) relating to net investment hedges.

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

X
- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//220/tableOfContent + Details
Name: | us-gaap_ComprehensiveIncomeNoteTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration