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STOCKHOLDERS' EQUITY (Tables) | 9 Months Ended
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Mar. 31, 2020
Equity [Abstract] |
Schedule of Stockholders Equity | Changes in the components of Stockholders’ equity were as follows for the periods indicated:
| Three Months Ended March 31 |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Common Stock |  |  |  | Additional Paid-in Capital |  | Retained Earnings |  | Treasury Stock |  |  |  | Accumulated Other Comprehensive Net (Loss) Income |  | Total Stockholders’ Equity
| Amount |  | Shares (in thousands) |  |  |  |  |  | Amount |  | Shares (in thousands) |  |  |  |
Balance as of December 31, 2018 | $ | 159 |  |  | 158,741 |  |  | $ | 1,014 |  |  | $ | 2,940 |  |  | $ | (2,794) |  |  | (30,651) |  |  | $ | (577) |  |  | $ | 742 |
Net earnings |  |  |  |  |  |  |  |  |  | 187 |  |  |  |  |  |  |  |  |  |  |  | 187 |
Other comprehensive (loss) income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 13 |  |  | 13 |
Dividends ($0.96 per share declared) |  |  |  |  |  |  |  |  |  | (123) |  |  |  |  |  |  |  |  |  |  |  | (123) |
Stock-based compensation |  |  |  |  |  |  | 16 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 16 |
Other employee stock plan activities |  |  |  |  |  |  | 3 |  |  | — |  |  | 16 |  |  | 264 |  |  |  |  |  | 19 |
Treasury stock purchased |  |  |  |  |  |  |  |  |  |  |  |  | (73) |  |  | (466) |  |  |  |  |  | (73) |
Balance as of March 31, 2019 | $ | 159 |  |  | 158,741 |  |  | $ | 1,033 |  |  | $ | 3,004 |  |  | $ | (2,851) |  |  | (30,853) |  |  | $ | (564) |  |  | $ | 781 |
Balance as of December 31, 2019 | $ | 159 |  |  | 158,741 |  |  | $ | 1,062 |  |  | $ | 3,292 |  |  | $ | (3,357) |  |  | (33,717) |  |  | $ | (601) |  |  | $ | 555 |
Net earnings |  |  |  |  |  |  |  |  |  | 241 |  |  |  |  |  |  |  |  |  |  |  | 241 |
Other comprehensive (loss) income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (55) |  |  | (55) |
Dividends ($1.06 per share declared) |  |  |  |  |  |  |  |  |  | (135) |  |  |  |  |  |  |  |  |  |  |  | (135) |
Stock-based compensation |  |  |  |  |  |  | 18 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 18 |
Other employee stock plan activities |  |  |  |  |  |  | 31 |  |  | — |  |  | 70 |  |  | 1,083 |  |  |  |  |  | 101 |
Treasury stock purchased |  |  |  |  |  |  |  |  |  |  |  |  | (30) |  |  | (184) |  |  |  |  |  | (30) |
Balance as of March 31, 2020 | $ | 159 |  |  | 158,741 |  |  | $ | 1,111 |  |  | $ | 3,398 |  |  | $ | (3,317) |  |  | (32,818) |  |  | $ | (656) |  |  | $ | 695 |
| Nine Months Ended March 31 |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Common Stock |  |  |  | Additional Paid-in Capital |  | Retained Earnings |  | Treasury Stock |  |  |  | Accumulated Other Comprehensive Net (Loss) Income |  | Total Stockholders’ Equity
| Amount |  | Shares (in thousands) |  |  |  |  |  | Amount |  | Shares (in thousands) |  |  |  |
Balance as of June 30, 2018 | $ | 159 |  |  | 158,741 |  |  | $ | 975 |  |  | $ | 2,797 |  |  | $ | (2,658) |  |  | (30,759) |  |  | $ | (547) |  |  | $ | 726 |
Cumulative effect of accounting changes, net of tax (1) |  |  |  |  |  |  | (3) |  |  |  |  |  |  |  |  | (3) |
Net earnings |  |  |  |  |  |  |  |  |  | 579 |  |  |  |  |  |  |  |  |  |  |  | 579 |
Other comprehensive (loss) income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (17) |  |  | (17) |
Dividends ($2.88 per share declared) |  |  |  |  |  |  |  |  |  | (369) |  |  |  |  |  |  |  |  |  |  |  | (369) |
Stock-based compensation |  |  |  |  |  |  | 34 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 34 |
Other employee stock plan activities |  |  |  |  |  |  | 24 |  |  | — |  |  | 116 |  |  | 2,048 |  |  |  |  |  | 140 |
Treasury stock purchased |  |  |  |  |  |  |  |  |  |  |  |  | (309) |  |  | (2,142) |  |  |  |  |  | (309) |
Balance as of March 31, 2019 | $ | 159 |  |  | 158,741 |  |  | $ | 1,033 |  |  | $ | 3,004 |  |  | $ | (2,851) |  |  | (30,853) |  |  | $ | (564) |  |  | $ | 781 |
Balance as of June 30, 2019 | $ | 159 |  |  | 158,741 |  |  | $ | 1,046 |  |  | $ | 3,150 |  |  | $ | (3,194) |  |  | (33,055) |  |  | $ | (602) |  |  | $ | 559 |
Cumulative effect of accounting changes, net of tax (2) |  |  |  |  |  |  |  |  |  | 22 |  |  |  |  |  |  |  |  |  |  |  | 22 |
Net earnings |  |  |  |  |  |  |  |  |  | 629 |  |  |  |  |  |  |  |  |  |  |  | 629 |
Other comprehensive (loss) income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (54) |  |  | (54) |
Dividends ($3.18 per share declared) |  |  |  |  |  |  |  |  |  | (402) |  |  |  |  |  |  |  |  |  |  |  | (402) |
Stock-based compensation |  |  |  |  |  |  | 37 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 37 |
Other employee stock plan activities |  |  |  |  |  |  | 28 |  |  | (1) |  |  | 96 |  |  | 1,661 |  |  |  |  |  | 123 |
Treasury stock purchased |  |  |  |  |  |  |  |  |  |  |  |  | (219) |  |  | (1,424) |  |  |  |  |  | (219) |
Balance as of March 31, 2020 | $ | 159 |  |  | 158,741 |  |  | $ | 1,111 |  |  | $ | 3,398 |  |  | $ | (3,317) |  |  | (32,818) |  |  | $ | (656) |  |  | $ | 695 |
(1) As a result of adopting ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606),” on July 1, 2018, the Company recorded a cumulative effect of initially applying the new guidance as an adjustment to the fiscal year 2019 opening balance of Retained earnings. (2) As a result of adopting ASU No. 2016-02, “Leases (Topic 842),” on July 1, 2019, the Company recorded a cumulative effect of initially applying the new guidance as an adjustment to the fiscal year 2020 opening balance of Retained earnings. See Note 1 for more information.
Schedule of Share Repurchases Under Authorized Programs | Stock repurchases under the two stock repurchase programs were as follows for the periods indicated:
| Three Months Ended |  |  |  |  |  |  |  | Nine Months Ended |  |  |  |  |  |
| 3/31/2020 |  |  |  | 3/31/2019 |  |  |  | 3/31/2020 |  |  |  | 3/31/2019 |  |
| Amount |  | Shares (in thousands) |  | Amount |  | Shares (in thousands) |  | Amount |  | Shares (in thousands) |  | Amount |  | Shares (in thousands)
Open-market purchase program | $ | — |  |  | — |  |  | $ | — |  |  | — |  |  | $ | 85 |  |  | 577 |  |  | $ | 78 |  |  | 591 |
Evergreen Program | 30 |  |  | 184 |  |  | 73 |  |  | 466 |  |  | 134 |  |  | 847 |  |  | 231 |  |  | 1,551 |
Total stock repurchases | $ | 30 |  |  | 184 |  |  | $ | 73 |  |  | 466 |  |  | $ | 219 |  |  | 1,424 |  |  | $ | 309 |  |  | 2,142 |
Schedule of Changes in Accumulated Other Comprehensive Net (Losses) Income | Changes in Accumulated other comprehensive net (loss) income by component were as follows for the periods indicated:
| Three Months Ended March 31 |  |  |  |  |  |
| Foreign currency translation adjustments |  | Net unrealized gains (losses) on derivatives |  | Pension and postretirement benefit adjustments |  | Accumulated other comprehensive net (loss) income
Balance as of December 31, 2018 | $ | (415) |  |  | $ | (26) |  |  | $ | (136) |  |  | $ | (577) |
Other comprehensive (loss) income before reclassifications | 8 |  |  | 2 |  |  | — |  |  | 10 |
Amounts reclassified from Accumulated other comprehensive net (loss) income | — |  |  | 2 |  |  | 2 |  |  | 4 |
Income tax benefit (expense) | — |  |  | (1) |  |  | — |  |  | (1) |
Net current period other comprehensive (loss) income | 8 |  |  | 3 |  |  | 2 |  |  | 13 |
Balance as of March 31, 2019 | $ | (407) |  |  | $ | (23) |  |  | $ | (134) |  |  | $ | (564) |
Balance as of December 31, 2019 | $ | (421) |  |  | $ | (17) |  |  | $ | (163) |  |  | $ | (601) |
Other comprehensive (loss) income before reclassifications | (49) |  |  | (9) |  |  | — |  |  | (58) |
Amounts reclassified from Accumulated other comprehensive net (loss) income | — |  |  | 2 |  |  | 2 |  |  | 4 |
Income tax benefit (expense), and other | (2) |  |  | 2 |  |  | (1) |  |  | (1) |
Net current period other comprehensive (loss) income | (51) |  |  | (5) |  |  | 1 |  |  | (55) |
Balance as of March 31, 2020 | $ | (472) |  |  | $ | (22) |  |  | $ | (162) |  |  | $ | (656) |
| Nine Months Ended March 31 |  |  |  |  |  |
| Foreign currency translation adjustments |  | Net unrealized gains (losses) on derivatives |  | Pension and postretirement benefit adjustments |  | Accumulated other comprehensive net (loss) income
Balance as of June 30, 2018 | $ | (384) |  |  | $ | (25) |  |  | $ | (138) |  |  | $ | (547) |
Other comprehensive (loss) income before reclassifications | (22) |  |  | (3) |  |  | — |  |  | (25) |
Amounts reclassified from Accumulated other comprehensive net (loss) income | — |  |  | 4 |  |  | 5 |  |  | 9 |
Income tax benefit (expense) | (1) |  |  | 1 |  |  | (1) |  |  | (1) |
Net current period other comprehensive (loss) income | (23) |  |  | 2 |  |  | 4 |  |  | (17) |
Balance as of March 31, 2019 | $ | (407) |  |  | $ | (23) |  |  | $ | (134) |  |  | $ | (564) |
Balance as of June 30, 2019 | $ | (414) |  |  | $ | (23) |  |  | $ | (165) |  |  | $ | (602) |
Other comprehensive (loss) income before reclassifications | (55) |  |  | (6) |  |  | — |  |  | (61) |
Amounts reclassified from Accumulated other comprehensive net (loss) income | — |  |  | 6 |  |  | 5 |  |  | 11 |
Income tax benefit (expense), and other | (3) |  |  | 1 |  |  | (2) |  |  | (4) |
Net current period other comprehensive (loss) income | (58) |  |  | 1 |  |  | 3 |  |  | (54) |
Balance as of March 31, 2020 | $ | (472) |  |  | $ | (22) |  |  | $ | (162) |  |  | $ | (656) |

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