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PENSION AND POST-RETIREMENT BENEFIT PLANS (Tables) | 9 Months Ended
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Mar. 31, 2024
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, 2024 and 2023 consisted of the following:
|  | Pension Plans |  | Other than Pension Plans
|  | U.S. |  | International |  | Post-retirement
(In millions) |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023
Service cost |  | $ | 9 |  |  | $ | 10 |  |  | $ | 7 |  |  | $ | 7 |  |  | $ | — |  |  | $ | — |
Interest cost |  | 12 |  |  | 10 |  |  | 5 |  |  | 3 |  |  | 2 |  |  | 2 |
Expected return on plan assets |  | (14) |  |  | (14) |  |  | (7) |  |  | (5) |  |  | — |  |  | — |
Amortization of: |  |  |  |  |  |  |  |  |  |  |  |
Actuarial loss (gain) |  | 1 |  |  | — |  |  | (2) |  |  | — |  |  | — |  |  | — |
Prior service cost |  | — |  |  | — |  |  | (1) |  |  | — |  |  | (1) |  |  | — |
Special termination benefits |  | — |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | — |
Net periodic benefit cost |  | $ | 8 |  |  | $ | 6 |  |  | $ | 2 |  |  | $ | 6 |  |  | $ | 1 |  |  | $ | 2 |
The components of net periodic benefit cost for the nine months ended March 31, 2024 and 2023 consisted of the following:
|  | Pension Plans |  | Other than Pension Plans
|  | U.S. |  | International |  | Post-retirement
(In millions) |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023
Service cost |  | $ | 27 |  |  | $ | 28 |  |  | $ | 20 |  |  | $ | 20 |  |  | $ | 1 |  |  | $ | — |
Interest cost |  | 35 |  |  | 30 |  |  | 14 |  |  | 10 |  |  | 6 |  |  | 6 |
Expected return on plan assets |  | (41) |  |  | (42) |  |  | (19) |  |  | (13) |  |  | — |  |  | — |
Amortization of: |  |  |  |  |  |  |  |  |  |  |  |
Actuarial loss (gain) |  | 3 |  |  | 2 |  |  | (6) |  |  | (2) |  |  | — |  |  | — |
Prior service cost |  | — |  |  | — |  |  | (1) |  |  | — |  |  | (1) |  |  | — |
Special termination benefits |  | — |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | — |
Net periodic benefit cost |  | $ | 24 |  |  | $ | 18 |  |  | $ | 8 |  |  | $ | 16 |  |  | $ | 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, 2024 |  | June 30, 2023
Other assets |  | $ | 113 |  |  | $ | 115 |
Other accrued liabilities |  | (35) |  |  | (34) |
Other noncurrent liabilities |  | (334) |  |  | (395) |
Funded status |  | (256) |  |  | (314) |
Accumulated other comprehensive loss |  | 212 |  |  | 235 |
Net amount recognized |  | $ | (44) |  |  | $ | (79) |

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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 -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
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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 -Topic 715 -SubTopic 20 -Subparagraph (h) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
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