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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 6 Months Ended
Dec. 31, 2022
Accounting Policies [Abstract]  
Schedule of inventory and promotional merchandise Inventory and promotional merchandise consists of the following:
(In millions)December 31, 2022June 30, 2022
Raw materials
$918 $791 
Work in process
318 366 
Finished goods
1,519 1,449 
Promotional merchandise
314 314 
$3,069 $2,920 
Schedule of property, plant and equipment Property, plant and equipment consists of the following:
(In millions)December 31, 2022June 30, 2022
Assets (Useful Life)
Land
$54 $53 
Buildings and improvements (10 to 40 years)
504 491 
Machinery and equipment (3 to 10 years)
1,027 994 
Computer hardware and software (4 to 10 years)
1,587 1,468 
Furniture and fixtures (5 to 10 years)
134 129 
Leasehold improvements
2,266 2,246 
Construction in progress1,008 759 
6,580 6,140 
Less accumulated depreciation and amortization
(3,672)(3,490)
$2,908 $2,650 
Schedule of effective rate for income taxes
The effective rate for income taxes for the three and six months ended December 31, 2022 and 2021 are as follows:

Three Months Ended
December 31		Six Months Ended
December 31
2022202120222021
Effective rate for income taxes25.4 %21.5 %23.9 %21.9 %
Basis-point change from the prior-year period390 200 
Schedule of other accrued liabilities Other accrued liabilities consist of the following:
(In millions)December 31, 2022June 30, 2022
Advertising, merchandising and sampling$284 $250 
Employee compensation473 693 
Deferred revenue344 312 
Payroll and other non-income taxes308 345 
Accrued income taxes343 267 
Sales return accrual293 252 
Other1,494 1,241 
$3,539 $3,360