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DERIVATIVE FINANCIAL INSTRUMENTS - Gain (Loss) on Derivative Financial Instruments (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended
--- | --- | ---
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021
Gain (loss) on derivative financial instruments |  |  |  |
Amount of Gain or (Loss) Recognized in OCI on Derivatives, Cash Flow Hedging | $ (120) | $ 26 | $ 15 | $ 77
Amounts reclassified to earnings during the year | 22 | (3) | 37 | (9)
Cash flow hedges |  |  |  |
Gain (loss) on derivative financial instruments |  |  |  |
Amount of Gain or (Loss) Recognized in OCI on Derivatives, Cash Flow Hedging | (34) | (8) | 30 | 7
Amounts reclassified to earnings during the year | 22 | (3) | 37 | (9)
Net sales |  |  |  |
Gain (loss) on derivative financial instruments |  |  |  |
Total amounts of income and expense line items presented in the consolidated statements of earnings in which the effects of fair value and cash flow hedges are recorded | 4,620 | 5,539 | 8,550 | 9,931
Interest expense |  |  |  |
Gain (loss) on derivative financial instruments |  |  |  |
Total amounts of income and expense line items presented in the consolidated statements of earnings in which the effects of fair value and cash flow hedges are recorded | 52 | 42 | 98 | 84
Foreign currency forward contracts | Cash flow hedges |  |  |  |
Gain (loss) on derivative financial instruments |  |  |  |
Amount of Gain or (Loss) Recognized in OCI on Derivatives, Cash Flow Hedging | (39) | (8) | 18 | 7
Foreign currency forward contracts | Net investment hedges |  |  |  |
Gain (loss) on derivative financial instruments |  |  |  |
Amount of Gain or (Loss) Recognized in OCI on Derivatives, Cash Flow Hedging | (86) | 34 | (15) | 70
Amounts reclassified to earnings during the year | 0 | 0 | 0 | 0
Foreign currency forward contracts | Net sales | Cash flow hedges |  |  |  |
Gain (loss) on derivative financial instruments |  |  |  |
Amounts reclassified to earnings during the year | 22 | (2) | 37 | (8)
Interest rate-related derivatives | Cash flow hedges |  |  |  |
Gain (loss) on derivative financial instruments |  |  |  |
Amount of Gain or (Loss) Recognized in OCI on Derivatives, Cash Flow Hedging | 5 | 0 | 12 | 0
Interest rate-related derivatives | Interest expense | Cash flow hedges |  |  |  |
Gain (loss) on derivative financial instruments |  |  |  |
Amounts reclassified to earnings during the year | 0 | (1) | 0 | (1)
Interest rate-related derivatives | Interest expense | Derivatives in fair value hedging relationships |  |  |  |
Gain (loss) on derivative financial instruments |  |  |  |
Amount of gain (loss) reclassified from AOCI to earnings | (4) | 6 | 35 | 16
Net investment hedges |  |  |  |
Gain (loss) on derivative financial instruments |  |  |  |
Gain recognized in earnings related to the amount excluded from effectiveness testing | 7 | 3 | 13 | 5
Derivatives Designated as Hedging Instruments: | Interest rate-related derivatives | Interest expense | Derivatives in fair value hedging relationships |  |  |  |
Gain (loss) on derivative financial instruments |  |  |  |
Amount of gain (loss) reclassified from AOCI to earnings | 4 | (6) | (35) | (16)
Derivatives Not Designated as Hedging Instruments: | Foreign currency forward contracts | Selling, general and administrative |  |  |  |
Gain (loss) on derivative financial instruments |  |  |  |
Amount of gain (loss) reclassified from AOCI to earnings | $ 6 | $ (38) | $ 17 | $ (49)

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- Definition Amount of increase (decrease) in the fair value of derivatives recognized in the income statement. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b)(1) -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959 + Details
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- Definition Amount of realized and unrealized gain (loss) of derivative instruments not designated or qualifying as hedging instruments. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4CC -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL109998890-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 + Details
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- Definition Gain relating to components of the gain (loss) on the fair value hedging instrument excluded from the assessment of fair value hedge effectiveness. Recognized in earnings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 25 -Section 50 -Paragraph 1 -Subparagraph (a)(2) -URI https://asc.fasb.org/extlink&oid=121577467&loc=d3e76258-113986 + Details
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- Definition Total amount of gain (loss) derived from fair value hedges recognized in earnings in the period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 + Details
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- Definition Amount, before tax and reclassification, of gain (loss) from derivative instrument designated and qualifying cash flow hedge included in assessment of hedge effectiveness. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 20 -Section 45 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=121577181&loc=SL110061190-113977 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b)(2) -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 11 -URI https://asc.fasb.org/extlink&oid=126968391&loc=d3e637-108580 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 10A -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669646-108580 + Details
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