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ACCUMULATED OTHER COMPREHENSIVE LOSS | 12 Months Ended
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Jun. 30, 2024
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] |
ACCUMULATED OTHER COMPREHENSIVE LOSS | ACCUMULATED OTHER COMPREHENSIVE LOSS The components of AOCI included in the accompanying consolidated balance sheets consist of the following:
|  | Year Ended June 30
(In millions) |  | 2024 |  | 2023 |  | 2022
Net derivative instruments, beginning of year |  | $ | 44 |  |  | $ | 68 |  |  | $ | (2) |
Gain on derivative instruments (1) |  | 79 |  |  | 48 |  |  | 93 |
Provision for income taxes |  | (18) |  |  | (11) |  |  | (21) |
Reclassification to earnings during the year: |  |  |  |  |  |
Foreign currency forward contracts (2) |  | (50) |  |  | (71) |  |  | (3) |
Interest rate-related derivatives (3) |  | — |  |  | 1 |  |  | 1 |
Cross-currency swap contracts (1)(4) |  | (19) |  |  | (9) |  |  | — |
Benefit for income taxes on reclassification (5) |  | 16 |  |  | 18 |  |  | — |
Net derivative instruments, end of year |  | 52 |  |  | 44 |  |  | 68 |
Net pension and post-retirement adjustments, beginning of year |  | (177) |  |  | (114) |  |  | (179) |
Changes in plan assets and benefit obligations: |  |  |  |  |  |
Net actuarial gains (losses) recognized |  | (27) |  |  | (79) |  |  | 71 |
Prior service credit recognized |  | 25 |  |  | — |  |  | (1) |
Translation adjustments |  | 1 |  |  | (1) |  |  | — |
Benefit (provision) for income taxes |  | — |  |  | 17 |  |  | (18) |
Amortization and settlements included in net periodic benefit cost (6): |  |  |  |  |  |
Net actuarial gains (losses) |  | (4) |  |  | — |  |  | 18 |
Net prior service cost |  | (3) |  |  | (1) |  |  | (1) |
Settlements |  | — |  |  | 1 |  |  | — |
Benefit (provision) for income taxes on reclassification (5) |  | 2 |  |  | — |  |  | (4) |
Net pension and post-retirement adjustments, end of year |  | (183) |  |  | (177) |  |  | (114) |
Cumulative translation adjustments, beginning of year |  | (801) |  |  | (716) |  |  | (289) |
Translation adjustments (7) |  | (129) |  |  | (112) |  |  | (409) |
Purchase of shares from redeemable noncontrolling interest (8) |  | (73) |  |  | — |  |  | — |
Benefit (provision) for income taxes |  | (6) |  |  | 27 |  |  | (18) |
Cumulative translation adjustments, end of year |  | (1,009) |  |  | (801) |  |  | (716) |
Accumulated other comprehensive loss |  | $ | (1,140) |  |  | $ | (934) |  |  | $ | (762) |
(1)Includes the gain recognized in AOCI from cross-currency swap contracts which represents the amount excluded from effectiveness testing. (2)Amounts recorded in Net Sales in the accompanying consolidated statements of earnings. (3)Amounts recorded in Interest expense in the accompanying consolidated statements of earnings. (4)Amounts recorded in Selling, general and administrative in the accompanying consolidated statements of earnings. (5)Amounts recorded in Provision for income taxes in the accompanying consolidated statements of earnings. (6)Reclassification adjustments for pension and post-retirement plans is recorded in Other components of net periodic benefit cost in the accompanying consolidated statements of earnings. (7)See Note 13 – Derivative Financial Instruments for gains (losses) relating to net investment hedges. (8)Upon purchase of the remaining interest in DECIEM during the fourth quarter of fiscal 2024, the cumulative amount of translation adjustments were reallocated from redeemable noncontrolling interest back to the Company.

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- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//220/tableOfContent + Details
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