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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

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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Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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