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Fair Value Measurements (Tables) | 3 Months Ended
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Sep. 30, 2023
Fair Value Disclosures [Abstract] |
Schedule of Carrying Value and Estimated Fair Value of Long-term Debt | The carrying values and estimated fair values of long-term debt with fixed interest rates (excluding the fair value of designated receive-fixed/pay-variable interest rate swaps) were as follows:
|  | September 30, 2023 |  | June 30, 2023
|  | Carrying Value |  | Fair Value |  | Carrying Value |  | Fair Value
($ in millions) |  |  | (Level 2) |  |  | (Level 2)
Total long-term debt with fixed interest rates (excluding commercial paper (1) and finance leases) |  | $ | 4,098 |  |  | $ | 3,780 |  |  | $ | 4,123 |  |  | $ | 3,844 |
(1) As of September 30, 2023, and June 30, 2023, the Company has entered into interest rate swap contracts for a total notional amount of commercial paper equal to $1.2 billion. These contracts are considered to be economic hedges and the related $1.2 billion notional amount of commercial paper is also excluded from the total long-term debt with fixed interest rates.
Schedule of Fair Value of Instruments Measured on Recurring Basis | The following table summarizes the fair value of these instruments, which are measured at fair value on a recurring basis, by level, within the fair value hierarchy:
|  | September 30, 2023
($ in millions) |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets |  |  |  |  |  |  |  |
Commodity contracts |  | $ | — |  |  | $ | 1 |  |  | $ | — |  |  | $ | 1 |
Forward exchange contracts |  | — |  |  | 2 |  |  | — |  |  | 2 |
Interest rate swaps |  | — |  |  | 13 |  |  | — |  |  | 13 |
Total assets measured at fair value |  | $ | — |  |  | $ | 16 |  |  | $ | — |  |  | $ | 16 |
Liabilities |  |  |  |  |  |  |  |
Contingent purchase consideration liabilities |  | $ | — |  |  | $ | — |  |  | $ | 45 |  |  | $ | 45 |
Commodity contracts |  | — |  |  | 1 |  |  | — |  |  | 1 |
Forward exchange contracts |  | — |  |  | 5 |  |  | — |  |  | 5 |
Interest rate swaps |  | — |  |  | 107 |  |  | — |  |  | 107 |
Total liabilities measured at fair value |  | $ | — |  |  | $ | 113 |  |  | $ | 45 |  |  | $ | 158 |
|  | June 30, 2023
($ in millions) |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets |  |  |  |  |  |  |  |
Forward exchange contracts |  | — |  |  | 3 |  |  | — |  |  | 3 |
Interest rate swaps |  | — |  |  | 16 |  |  | — |  |  | 16 |
Total assets measured at fair value |  | $ | — |  |  | $ | 19 |  |  | $ | — |  |  | $ | 19 |
Liabilities |  |  |  |  |  |  |  |
Contingent purchase consideration liabilities |  | $ | — |  |  | $ | — |  |  | $ | 46 |  |  | $ | 46 |
Commodity contracts |  | — |  |  | 2 |  |  | — |  |  | 2 |
Forward exchange contracts |  | — |  |  | 5 |  |  | — |  |  | 5 |
Interest rate swaps |  | — |  |  | 96 |  |  | — |  |  | 96 |
Total liabilities measured at fair value |  | $ | — |  |  | $ | 103 |  |  | $ | 46 |  |  | $ | 149 |

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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-11 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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