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REVENUE RECOGNITION
 6 Months Ended
Dec. 31, 2022
Revenue from Contract with Customer [Abstract]  
REVENUE RECOGNITION REVENUE RECOGNITION
The Company’s revenue recognition accounting policies are described in the notes to consolidated financial statements in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2022.

Accounts Receivable

Accounts receivable, net is stated net of the allowance for doubtful accounts and customer deductions totaling $26 million and $27 million as of December 31, 2022 and June 30, 2022, respectively. Payment terms are short-term in nature and are generally less than one year.

Changes in the allowance for credit losses are as follows:

(In millions)December 31, 2022
Balance at June 30, 2022$10 
Provision for expected credit losses2 
Balance at December 31, 2022$12 

The remaining balance of the allowance for doubtful accounts of $14 million and $17 million as of December 31, 2022 and June 30, 2022, respectively, relates to non-credit losses, which are primarily due to customer deductions.

Deferred Revenue

Changes in deferred revenue during the period are as follows:
Three Months Ended
December 31		Six Months Ended
December 31
(In millions)2022202120222021
Deferred revenue, beginning of period$362 $426 $362 $371 
Revenue recognized that was included in the deferred revenue balance at the beginning of the period(131)(78)(280)(248)
Revenue deferred during the period119 75 276 298 
Other3 (2)(5)— 
Deferred revenue, end of period$353 $421 $353 $421 
Transaction Price Allocated to the Remaining Performance Obligations

At December 31, 2022, the combined estimated revenue expected to be recognized in the next twelve months related to performance obligations for customer loyalty programs, gift with purchase promotions, purchase with purchase promotions and gift card liabilities that are unsatisfied (or partially unsatisfied) is $344 million. The remaining balance of deferred revenue at December 31, 2022 will be recognized beyond the next twelve months.