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DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
 3 Months Ended
Sep. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of fair values of the derivative financial instruments included in the consolidated balance sheets
The fair values of the Company’s derivative financial instruments included in the consolidated balance sheets are presented as follows:
Asset DerivativesLiability Derivatives
Fair Value (1)
Fair Value (1)
(In millions)Balance Sheet
Location		September 30, 2025June 30, 2025Balance Sheet
Location		September 30, 2025June 30, 2025
Derivatives Designated as Hedging Instruments:
Foreign currency forward contracts(2)
Prepaid expenses and other current assets; Other assets$6 $7 Other accrued liabilities$37 $82 
Cross-currency swap contracts(3)
Prepaid expenses and other current assets; Other assets64 50 Other accrued liabilities1 15 
Interest rate contracts
Prepaid expenses and other current assets— — Other accrued liabilities100 104 
Total Derivatives Designated as Hedging Instruments70 57 138 201 
Derivatives Not Designated as Hedging Instruments:
Foreign currency forward contractsPrepaid expenses and other current assets4 25 Other accrued liabilities3 15 
Total derivatives$74 $82 $141 $216 
(1)See Note 5 – Fair Value Measurements for further information about how the fair value of derivative assets and liabilities are determined.
(2)Included in the asset derivatives for the foreign currency forward contracts at September 30, 2025 is $1 million, classified within Other assets in the accompanying consolidated balance sheets. There were no amounts classified in Other assets at June 30, 2025.
(3)Included in the asset derivatives for the cross-currency swap contracts at September 30, 2025 and June 30, 2025 is approximately $50 million and $40 million, respectively, classified within Other assets in the accompanying consolidated balance sheets.
Schedule of gains and losses related to derivative financial instruments designated as hedging instruments that are included in the assessment of effectiveness
The amounts of the gains and losses related to the Company’s derivative financial instruments designated as hedging instruments that are included in the assessment of effectiveness are as follows:

Amount of Gain (Loss)
Recognized in OCI on
Derivatives		Location of Gain (Loss) Reclassified
from AOCI into
Earnings
Amount of Gain (Loss)
Reclassified from AOCI into Earnings (Loss)(1)
Three Months Ended
September 30,
Three Months Ended
September 30,
(In millions)2025202420252024
Derivatives in Cash Flow Hedging Relationships:
Foreign currency forward contracts$16 $(47)
Net sales
$— $10 
Total cash flow hedges
16 (47)— 10 
Derivatives in Net Investment Hedging Relationships(2):
Foreign currency forward contracts(3)
— (64)— — 
Cross-currency swap contracts(4)
15 — — — 
Total net investment hedges
15 (64)— — 
Total derivatives$31 $(111)$— $10 
(1)There was no amount reclassified into the accompanying consolidated statements of earnings (loss) as a result of the discontinuance of cash flow hedges because it is probable that forecasted transactions will not occur by the end of the original time period.
(2)Included within translation adjustments as a component of AOCI on the Company’s consolidated balance sheets.
(3)During the three months ended September 30, 2025 and 2024, the gain recognized in the accompanying consolidated statements of earnings (loss) from foreign currency forward contracts related to the amount excluded from effectiveness testing was $3 million and $7 million, respectively.
(4)During the three months ended September 30, 2025, the gain recognized in the accompanying consolidated statements of earnings (loss) from cross-currency swap contracts related to the amount excluded from effectiveness testing was $3 million.

Amount of Gain (Loss)
Recognized in Earnings (Loss) on Derivatives
Location of Gain (Loss) Recognized in Earnings (Loss) on Derivatives
Three Months Ended
September 30,
(In millions)20252024
Derivatives in Fair Value Hedging Relationships:
Cross-currency swap contracts (1)
Selling, general and administrative$12 $(53)
Interest rate contracts (2)
Interest expense$4 $41 
(1)Changes in the fair value representing hedge components included in the assessment of effectiveness of the cross-currency swap contracts are exactly offset by the change in the fair value of the underlying intercompany foreign currency denominated debt. The gain recognized in the accompanying consolidated statements of earnings (loss) from cross-currency swap contracts related to the amount excluded from effectiveness testing during the three months ended September 30, 2025 and 2024 was $5 million and $4 million, respectively.
(2)Changes in the fair value of the interest rate contracts are exactly offset by the change in the fair value of the underlying long-term debt.
Schedule of cumulative amount of fair value hedging adjustments for designated and qualifying hedged items
Additional information regarding the cumulative amount of fair value hedging gain (loss) recognized in the accompanying consolidated statements of earnings (loss) for items designated and qualifying as hedged items in fair value hedges is as follows:

(In millions)
Line Item in the Consolidated Balance Sheets in Which the Hedged Item is IncludedCarrying Amount of the
Hedged Liabilities		Cumulative Amount of Fair
Value Hedging Gain (Loss)
Included in the Carrying Amount of the Hedged Liability
September 30, 2025September 30, 2025
Long-term debt$1,185 $(100)
Intercompany debt$— $54 
Schedule of effects of fair value and cash flow hedging relationships for designated and qualified hedging instruments
Additional information regarding the effects of fair value and cash flow hedging relationships for derivatives designated and qualifying as hedging instruments is as follows:

Three Months Ended September 30,
20252024
(In millions)Net SalesSelling, General and AdministrativeInterest
Expense		Net SalesSelling, General and AdministrativeInterest
Expense
Total amounts of income and expense line items presented in the accompanying consolidated statements of earnings (loss) in which the effects of fair value and cash flow hedges are recorded
$3,481 $2,296 $86 $3,361 $2,298 $92 
The effects of fair value and cash flow hedging relationships:
Gain (loss) on fair value hedge relationships – interest rate contracts:
Hedged itemN/AN/A(4)N/AN/A(41)
Derivatives designated as hedging instrumentsN/AN/A4 N/AN/A41 
Gain (loss) on fair value hedge relationships – cross-currency swap contracts:
Hedged itemN/A(12)N/AN/A53 N/A
Derivatives designated as hedging instrumentsN/A12 N/AN/A(53)N/A
Gain (loss) on cash flow hedge relationships – foreign currency forward contracts:
Amount of gain (loss) reclassified from AOCI
— N/AN/A10 N/AN/A
N/A (Not applicable)
Schedule of gains and losses related to derivative financial instruments not designated as hedging instruments
The amount of gains and losses related to the Company’s derivative financial instruments not designated as hedging instruments are presented as follows:

Amount of Gain (Loss)
Recognized in Earnings (Loss) on Derivatives
Location of Gain (Loss) Recognized in Earnings (Loss) on Derivatives
Three Months Ended
September 30,
(In millions)20252024
Derivatives Not Designated as Hedging Instruments:
Foreign currency forward contractsSelling, general and administrative$16 $(50)
Schedule of Offsetting Assets The following table provides information as if the Company had elected to offset the asset and liability balances of derivative instruments, netted in accordance with various criteria in the event of default or termination as stipulated by the terms of netting arrangements with each of the counterparties:
As of September 30, 2025
As of June 30, 2025
(In millions)Gross Amounts of Assets / (Liabilities) Presented in Balance SheetContracts Subject to NettingNet Amounts of Assets / (Liabilities)Gross Amounts of Assets / (Liabilities) Presented in Balance SheetContracts Subject to NettingNet Amounts of Assets / (Liabilities)
Derivative Financial Instruments
Derivative assets$74 $(30)$44 $82 $(60)$22 
Derivative liabilities(141)30 (111)(216)60 (156)
Total derivatives
$(67)$— $(67)$(134)$— $(134)
Schedule of Offsetting Liabilities The following table provides information as if the Company had elected to offset the asset and liability balances of derivative instruments, netted in accordance with various criteria in the event of default or termination as stipulated by the terms of netting arrangements with each of the counterparties:
As of September 30, 2025
As of June 30, 2025
(In millions)Gross Amounts of Assets / (Liabilities) Presented in Balance SheetContracts Subject to NettingNet Amounts of Assets / (Liabilities)Gross Amounts of Assets / (Liabilities) Presented in Balance SheetContracts Subject to NettingNet Amounts of Assets / (Liabilities)
Derivative Financial Instruments
Derivative assets$74 $(30)$44 $82 $(60)$22 
Derivative liabilities(141)30 (111)(216)60 (156)
Total derivatives
$(67)$— $(67)$(134)$— $(134)