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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 9 Months Ended
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Mar. 31, 2023
Accounting Policies [Abstract] |
Schedule of inventory and promotional merchandise | Inventory and promotional merchandise consists of the following:
(In millions) |  | March 31, 2023 |  | June 30, 2022
Raw materials |  | $ | 916 |  |  | $ | 791 |
Work in process |  | 353 |  |  | 366 |
Finished goods |  | 1,527 |  |  | 1,449 |
Promotional merchandise |  | 301 |  |  | 314 |
|  | $ | 3,097 |  |  | $ | 2,920 |
Schedule of property, plant and equipment | Property, plant and equipment consists of the following:
(In millions) |  | March 31, 2023 |  | June 30, 2022
Assets (Useful Life) |  |  |  |
Land |  | $ | 55 |  |  | $ | 53 |
Buildings and improvements (10 to 40 years) |  | 503 |  |  | 491 |
Machinery and equipment (3 to 10 years) |  | 1,032 |  |  | 994 |
Computer hardware and software (4 to 10 years) |  | 1,565 |  |  | 1,468 |
Furniture and fixtures (5 to 10 years) |  | 133 |  |  | 129 |
Leasehold improvements |  | 2,284 |  |  | 2,246 |
Construction in progress |  | 1,140 |  |  | 759 |
|  | 6,712 |  |  | 6,140 |
Less accumulated depreciation and amortization |  | (3,686) |  |  | (3,490) |
|  | $ | 3,026 |  |  | $ | 2,650 |
Schedule of effective rate for income taxes | The effective rate for income taxes for the three and nine months ended March 31, 2023 and 2022 are as follows:
| Three Months Ended March 31 |  | Nine Months Ended March 31
| 2023 |  | 2022 |  | 2023 |  | 2022
Effective rate for income taxes | 44.6 | % |  | 18.5 | % |  | 27.9 | % |  | 21.1 | %
Basis-point change from the prior-year period | 2,610 |  |  |  |  | 680 |  |  |
Schedule of other accrued liabilities | Other accrued liabilities consist of the following:
(In millions) |  | March 31, 2023 |  | June 30, 2022
Advertising, merchandising and sampling |  | $ | 240 |  |  | $ | 250 |
Employee compensation |  | 525 |  |  | 693 |
Deferred revenue |  | 306 |  |  | 312 |
Payroll and other non-income taxes |  | 305 |  |  | 345 |
Accrued income taxes |  | 396 |  |  | 267 |
Sales return accrual |  | 342 |  |  | 252 |
Other |  | 1,466 |  |  | 1,241 |
|  | $ | 3,580 |  |  | $ | 3,360 |

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