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PENSION, DEFERRED COMPENSATION AND POST-RETIREMENT BENEFIT PLANS (Tables)

12 Months Ended

Jun. 30, 2025

Retirement Benefits [Abstract]

Schedule of Balance Sheet activity

The components of the above-mentioned plans as of and for the years ended June 30, 2025 and 2024 are summarized as follows:

						Pension Plans																								Other than Pension Plans
						U.S.												International												Post-retirement
(In millions)						2025						2024						2025						2024						2025						2024
Change in benefit obligation:
Benefit obligation, beginning of year						$	941					$	912					$	541					$	522					$	144					$	176
Service cost						35						35						28						26						1						2
Interest cost						51						46						18						19						8						8
Plan participant contributions						—						—						8						8						1						1
Actuarial (gain) loss						(8)						(3)						12						(1)						2						(6)
Foreign currency exchange rate impact						—						—						36						—						(1)						—
Benefits, expenses, taxes and premiums paid						(54)						(49)						(31)						(32)						(14)						(12)
Plan amendments						—						—						—						—						—						(25)
Settlements and curtailments						(1)						—						(20)						(2)						2						—
Special termination benefits						—						—						3						1						—						—
Benefit obligation, end of year						$	964					$	941					$	595					$	541					$	143					$	144
Change in plan assets:
Fair value of plan assets, beginning of year						$	801					$	753					$	567					$	541					$	—					$	2
Actual return on plan assets						35						14						16						29						—						—
Foreign currency exchange rate impact						—						—						37						(1)						—						—
Employer contributions						44						83						35						24						13						9
Plan participant contributions						—						—						8						8						1						1
Settlements						—						—						(21)						(2)						—						—
Benefits, expenses, taxes and premiums paid from plan assets						(54)						(49)						(31)						(32)						(14)						(12)
Fair value of plan assets, end of year						$	826					$	801					$	611					$	567					$	—					$	—
Funded status						$	(138)					$	(140)					$	16					$	26					$	(143)					$	(144)
Amounts recognized in the Balance Sheet consist of:
Other assets						$	—					$	—					$	128					$	125					$	—					$	—
Other accrued liabilities						(29)						(27)						(6)						(4)						(9)						(13)
Other noncurrent liabilities						(109)						(113)						(106)						(95)						(134)						(131)
Funded status						(138)						(140)						16						26						(143)						(144)
Accumulated other comprehensive loss (income)						256						269						22						(5)						(10)						(21)
Net amount recognized						$	118					$	129					$	38					$	21					$	(153)					$	(165)

Schedule of components of net periodic benefit costs and assumptions

						Pension Plans																																				Other than Pension Plans
						U.S.																		International																		Post-retirement
($ in millions)						2025						2024						2023						2025						2024						2023						2025						2024						2023
Components of net periodic benefit cost:
Service cost						$	35					$	35					$	37					$	28					$	26					$	27					$	1					$	2					$	1
Interest cost						51						46						40						18						19						15						8						8						8
Expected return on assets						(50)						(54)						(57)						(26)						(25)						(17)						—						(1)						(1)
Amortization of:
Actuarial loss (gain)						20						4						3						(6)						(8)						(3)						—						—						—
Prior service cost						—						1						—						—						(1)						(1)						(6)						(3)						—
Settlements						—						—						—						—						—						1						—						—						—
Special termination benefits						—						—						—						3						1						—						—						—						—
Net periodic benefit cost						$	56					$	32					$	23					$	17					$	12					$	22					$	3					$	6					$	8
Assumptions used to determine benefit obligations at June 30:
Discount rate						5.30 – 5.90%						5.50 – 5.70%						5.20 – 5.30%						1.00 – 10.25%						1.75 – 10.00%						1.00 – 9.00%						5.00 – 10.25%						5.00 – 11.00%						5.00 – 10.75%
Rate of compensation increase						2.50 – 8.00%						2.50 – 8.00%						2.50 – 8.00%						1.50 – 5.00%						1.50 – 5.00%						1.75 – 5.00%						N/A						N/A						N/A
Weighted-average assumptions used to determine benefit obligations at June 30:
Discount rate						5.83		%				5.68		%				5.29		%				3.16		%				3.50		%				3.69		%				5.59		%				5.51		%				5.19		%
Rate of compensation increase						2.50 – 8.00%						2.50 – 8.00%						2.50 – 8.00%						2.82		%				3.00		%				3.08		%				N/A						N/A						N/A
Assumptions used to determine net periodic benefit cost for the year ended June 30:
Discount rate						5.50 – 5.70%						5.20 – 5.30%						4.30 – 4.50%						1.75 – 10.00%						1.00 – 9.00%						.75 – 9.00%						5.00 – 11.00%						5.00 – 10.75%						4.50 – 9.75%
Expected return on assets						6.25		%				6.25		%				6.25		%				2.75 – 10.00%						2.25 – 9.00%						1.25 – 9.00%						N/A						6.25		%				6.25		%
Rate of compensation increase						2.50 – 8.00%						2.50 – 8.00%						2.50 – 8.00%						1.50 – 5.00%						1.75 – 5.00%						— – 5.00%						N/A						N/A						N/A
Weighted-average assumptions used to determine net periodic benefit cost for the year ended June 30:
Discount rate						5.68		%				5.29		%				4.48		%				3.50		%				3.69		%				2.77		%				5.51		%				5.19		%				4.68		%
Expected return on assets						6.25		%				6.25		%				6.25		%				4.13		%				4.06		%				2.95		%				N/A						6.25		%				6.25		%
Rate of compensation increase						2.50 – 8.00%						2.50 – 8.00%						2.50 – 8.00%						3.00		%				3.08		%				2.96		%				N/A						N/A						N/A

Amounts recognized in AOCI (before tax)

Amounts recognized in AOCI (before tax) as of June 30, 2025 are as follows:

						Pension Plans												Other than Pension Plans
(In millions)						U.S.						International						Post-retirement						Total
Net actuarial losses (gains), beginning of year						$	268					$	(4)					$	1					$	265
Actuarial losses recognized						7						22						2						31
Amortization and settlements included in net periodic benefit cost						(20)						5						—						(15)
Translation adjustments						—						—						1						1
Net actuarial losses, end of year						255						23						4						282
Net prior service cost, beginning of year						1						(1)						(22)						(22)
Amortization included in net periodic benefit cost						—						—						6						6
Curtailments included in net periodic benefit cost						—						—						2						2
Net prior service cost, end of year						1						(1)						(14)						(14)
Total amounts recognized in AOCI						$	256					$	22					$	(10)					$	268

Projected benefit obligation, accumulated benefit obligation and fair value of plan assets for the company's pension plans

The projected benefit obligation, accumulated benefit obligation and fair value of plan assets for the Company’s pension plans at June 30 are as follows:

						Pension Plans																																				Other than Pension Plans
						Retirement Growth Account												Restoration												International												Post-retirement
(In millions)						2025						2024						2025						2024						2025						2024						2025						2024
Projected benefit obligation						$	846					$	825					$	118					$	116					$	595					$	541					$	143					$	144
Accumulated benefit obligation						$	825					$	800					$	112					$	108					$	532					$	484					$	—					$	—
Fair value of plan assets						$	826					$	801					$	—					$	—					$	611					$	567					$	—					$	—

Expected cash flows

The expected cash flows for the Company’s pension and post-retirement plans are as follows:

						Pension Plans												Other than Pension Plans
(In millions)						U.S.						International						Post-retirement
Expected employer contributions for year ending June 30, 2026						$	46					$	32					$	9
Expected benefit payments for year ending June 30,
2026						95						47						9
2027						82						36						10
2028						84						35						11
2029						70						36						11
2030						61						35						11
Years 2031 – 2035						318						187						55

Target asset allocation

The Company’s target asset allocation at June 30, 2025 is as follows:

						Pension Plans
						U.S.						International
Equity						39		%				20		%
Debt securities						50		%				56		%
Other						11		%				24		%
						100		%				100		%

Fair values of the company's pension and post-retirement plan assets by asset category

The following table presents the fair values of the Company’s pension and post-retirement plan assets by asset category as of June 30, 2025:

(In millions)						Level 1						Level 2						Level 3						Assets Measured at Net Asset Value						Total
Cash and cash equivalents						$	2					$	—					$	—					$	—					$	2
Short-term investment funds						—						7						—						4						11
Government and agency securities						144						—						—						—						144
Commingled funds						324						695						—						159						1,178
Insurance contracts						—						—						18						—						18
Interests in limited partnerships and hedge fund investments						—						—						—						84						84
Total						$	470					$	702					$	18					$	247					$	1,437

The following table presents the fair values of the Company’s pension and post-retirement plan assets by asset category as of June 30, 2024:

(In millions)						Level 1						Level 2						Level 3						Assets Measured at Net Asset Value						Total
Cash and cash equivalents						$	2					$	—					$	—					$	—					$	2
Short-term investment funds						—						28						—						3						31
Government and agency securities						137						—						—						—						137
Commingled funds						301						642						—						148						1,091
Insurance contracts						—						—						14						—						14
Interests in limited partnerships and hedge fund investments						—						—						—						93						93
Total						$	440					$	670					$	14					$	244					$	1,368

Changes in Level 3 plan assets

The following table presents the changes in Level 3 plan assets:

						June 30,
(In millions)						2025						2024
Insurance Contracts
Balance at beginning of year						$	14					$	8
Actual return on plan assets:
Relating to assets still held at the reporting date						—						1
Purchases, sales, issuances and settlements, net						3						5
Foreign exchange impact						1						—
Balance at end of year						$	18					$	14

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