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PENSION AND POST-RETIREMENT BENEFIT PLANS (Tables)

9 Months Ended

Mar. 31, 2023

Retirement Benefits [Abstract]

Schedule of components of net periodic benefit cost for pension and other post-retirement benefit plans

The components of net periodic benefit cost for the three months ended March 31, 2023 and 2022 consisted of the following:

						Pension Plans																								Other than Pension Plans
						U.S.												International												Post-retirement
(In millions)						2023						2022						2023						2022						2023						2022
Service cost						$	10					$	12					$	7					$	8					$	—					$	1
Interest cost						10						8						3						3						2						1
Expected return on plan assets						(14)						(14)						(5)						(4)						—						—
Amortization of:
Actuarial loss						—						4						—						—						—						—
Prior service cost						—						—						—						—						—						—
Special termination benefits						—						—						1						1						—						—
Net periodic benefit cost						$	6					$	10					$	6					$	8					$	2					$	2

The components of net periodic benefit cost for the nine months ended March 31, 2023 and 2022 consisted of the following:

						Pension Plans																								Other than Pension Plans
						U.S.												International												Post-retirement
(In millions)						2023						2022						2023						2022						2023						2022
Service cost						$	28					$	35					$	20					$	24					$	—					$	2
Interest cost						30						23						10						8						6						4
Expected return on plan assets						(42)						(41)						(13)						(11)						—						(1)
Amortization of:
Actuarial loss						2						11						(2)						1						—						1
Prior service cost						—						—						—						(1)						—						—
Special termination benefits						—						—						1						4						—						—
Net periodic benefit cost						$	18					$	28					$	16					$	25					$	6					$	6

Schedule of amounts recognized in the consolidated balance sheets related to the Company's pension and post-retirement benefit plans

The amounts recognized in the consolidated balance sheets related to the Company’s pension and post-retirement benefit plans consist of the following:

(In millions)						March 31, 2023						June 30, 2022
Other assets						$	134					$	151
Other accrued liabilities						(24)						(24)
Other noncurrent liabilities						(361)						(357)
Funded status						(251)						(230)
Accumulated other comprehensive loss						156						155
Net amount recognized						$	(95)					$	(75)

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- References

No definition available.

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- Definition

Tabular disclosure of the amounts that are recognized in the balance sheet (or statement of financial position) for pension plans and/or other employee benefit plans, showing separately the assets and current and noncurrent liabilities (if applicable) recognized.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

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- Definition

Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

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