COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Jun. 30, 2023

Commitments and Contingencies Disclosure [Abstract]

Summary of scheduled maturities of contractual obligations for which cash flows are fixed and determinable

The following table summarizes scheduled maturities of the Company’s contractual obligations for which cash flows are fixed and determinable as of June 30, 2023:


			Payments Due in Fiscal
(In millions)	Total		2024		2025		2026		2027		2028		Thereafter
Debt service (1)	$	12,133	$	1,267	$	761	$	256	$	755	$	939	$	8,155
Unconditional purchase obligations (2)	2,738		1,829		202		254		231		96		126
Gross unrecognized tax benefits and interest – current (3)	3		3		—		—		—		—		—
Transition Tax payable(4)	188		42		65		81		—		—		—
Total contractual obligations(5)	$	15,062	$	3,141	$	1,028	$	591	$	986	$	1,035	$	8,281

(1)Includes long-term and current debt and the related projected interest costs. Refer to Note 7 – Leases for information regarding future minimum lease payments relating to the Company’s finance leases. Interest costs on long-term and current debt in fiscal 2024, 2025, 2026, 2027, 2028 and thereafter are projected to be $267 million, $261 million, $256 million, $255 million, $239 million and $2,555 million, respectively. Projected interest costs on variable rate instruments were calculated using market rates at June 30, 2023.

(2)Unconditional purchase obligations primarily include: inventory commitments, deferred consideration, capital expenditure commitments, information technology contract commitments, royalty payments pursuant to license agreements and advertising commitments. Future royalty and advertising commitments were estimated based on planned future sales for the term that was in effect at June 30, 2023, without consideration for potential renewal periods.

(3)Refer to Note 9 – Income Taxes for information regarding unrecognized tax benefits. As of June 30, 2023, the noncurrent portion of the Company’s unrecognized tax benefits, including related accrued interest and penalties, was $75 million. At this time, the settlement period for the noncurrent portion of the unrecognized tax benefits, including related accrued interest and penalties, cannot be determined and therefore was not included.

(4)The Transition Tax may be paid over an eight-year period and this amount represents the remaining liability as of June 30, 2023.

(5)Refer to Note 7 – Leases for information regarding future minimum lease payments relating to the Company’s operating leases.