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v3.23.2

LEASES (Tables) | 12 Months Ended
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Jun. 30, 2023
Leases [Abstract] |
Lease, cost | A summary of total lease costs and other information for the periods relating to the Company’s finance and operating leases is as follows:
|  | June 30
(In millions) |  | 2023 |  | 2022 |  | 2021
Total lease cost |  |  |  |  |  |
Finance lease cost: |  |  |  |  |  |
Amortization of right-of-use assets |  | $ | 11 |  |  | $ | 12 |  |  | $ | 9 |
Interest on lease liabilities |  | — |  |  | — |  |  | — |
Operating lease cost |  | 444 |  |  | 465 |  |  | 470 |
Short-term lease cost |  | 41 |  |  | 24 |  |  | 19 |
Variable lease cost |  | 213 |  |  | 332 |  |  | 301 |
Total |  | $ | 709 |  |  | $ | 833 |  |  | $ | 799 |
Other information |  |  |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 463 |  |  | $ | 506 |  |  | $ | 451 |
Financing cash flows from finance leases |  | $ | 15 |  |  | $ | 18 |  |  | $ | 12 |
Right-of-use assets obtained in exchange for new operating lease liabilities |  | $ | 273 |  |  | $ | 279 |  |  | $ | 267 |
Right-of-use assets obtained in exchange for new finance lease liabilities |  | $ | 34 |  |  | $ | 10 |  |  | $ | 44 |
Weighted-average remaining lease term – finance leases |  | 14 years |  | 3 years |  | 3 years
Weighted-average remaining lease term – operating leases |  | 9 years |  | 9 years |  | 10 years
Weighted-average discount rate – finance leases |  | 0.4 | % |  | 1.0 | % |  | 1.1 | %
Weighted-average discount rate – operating leases |  | 2.5 | % |  | 2.4 | % |  | 2.3 | %
Operating lease liability, maturity schedule | The total future minimum lease payments, over the remaining lease term, relating to the Company’s operating and finance leases for each of the next five fiscal years and thereafter is as follows:
(In millions) |  | Operating Leases |  | Finance Leases
Fiscal 2024 |  | $ | 399 |  |  | $ | 9 |
Fiscal 2025 |  | 362 |  |  | 5 |
Fiscal 2026 |  | 299 |  |  | 3 |
Fiscal 2027 |  | 236 |  |  | 2 |
Fiscal 2028 |  | 185 |  |  | 2 |
Thereafter |  | 827 |  |  | 21 |
Total future minimum lease payments |  | 2,308 |  |  | 42 |
Less imputed interest |  | (253) |  |  | — |
Total |  | $ | 2,055 |  |  | $ | 42 |
Finance lease liability, maturity schedule | The total future minimum lease payments, over the remaining lease term, relating to the Company’s operating and finance leases for each of the next five fiscal years and thereafter is as follows:
(In millions) |  | Operating Leases |  | Finance Leases
Fiscal 2024 |  | $ | 399 |  |  | $ | 9 |
Fiscal 2025 |  | 362 |  |  | 5 |
Fiscal 2026 |  | 299 |  |  | 3 |
Fiscal 2027 |  | 236 |  |  | 2 |
Fiscal 2028 |  | 185 |  |  | 2 |
Thereafter |  | 827 |  |  | 21 |
Total future minimum lease payments |  | 2,308 |  |  | 42 |
Less imputed interest |  | (253) |  |  | — |
Total |  | $ | 2,055 |  |  | $ | 42 |
Schedule of operating lease and finance lease liabilities included in the consolidated balance sheet | Operating lease and finance lease liabilities included in the consolidated balance sheet are as follows:
|  | June 30
|  | 2023 |  | 2022
(In millions) |  | Operating Leases |  | Finance Leases |  | Operating Leases |  | Finance Leases
Total current liabilities |  | $ | 357 |  |  | 9 |  |  | $ | 365 |  |  | $ | 13 |
Total noncurrent liabilities |  | 1,698 |  |  | 33 |  |  | 1,868 |  |  | 10 |
Total |  | $ | 2,055 |  |  | $ | 42 |  |  | $ | 2,233 |  |  | $ | 23 |
Details of impairment of lease assets by type and by region | A summary of impairment charges is as follows:
(In millions) |  | Year Ended June 30, 2021 |
Product Category |  |  | Impairment Charge |  |  |
Skin care |  |  | $ | 1 |  |  |  |
Makeup |  |  | 52 |  |  |  |
Fragrance |  |  | 14 |  |  |  |
Hair care |  |  | 4 |  |  |  |
Other |  |  | — |  |  |  |
Total |  |  | $ | 71 |  |  |  |
Region |  |  |  |  |  |
The Americas |  |  | $ | 23 |  |  |  |
Europe, the Middle East & Africa |  |  | 48 |  |  |  |
Asia/Pacific |  |  | — |  |  |  |
Total |  |  | $ | 71 |  |  |  |

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6 + Details
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