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STOCKHOLDERS' EQUITY (Tables) | 9 Months Ended
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Mar. 31, 2021
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
(Dollars in millions except per share data; shares in thousands) | Common Stock |  | Additional Paid-in Capital |  | Retained Earnings |  | Treasury Stock |  | Accumulated Other Comprehensive Net (Loss) Income |  | Non-controlling interests |  | Total Stockholders’ Equity
Amount |  | Shares |  |  |  | Amount |  | Shares |  |  |
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 to Clorox stockholders ($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 |
Balance as of December 31, 2020 | $ | 131 |  |  | 130,741 |  |  | $ | 1,176 |  |  | $ | 1,302 |  |  | $ | (850) |  |  | (5,017) |  |  | $ | (575) |  |  | $ | 196 |  |  | $ | 1,380 |
Net earnings (losses) | — |  |  | — |  |  | — |  |  | (61) |  |  | — |  |  | — |  |  | — |  |  | 2 |  |  | (59) |
Other comprehensive (loss) income | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 22 |  |  | — |  |  | 22 |
Dividends to Clorox stockholders ($1.11 per share declared) | — |  |  | — |  |  | — |  |  | (139) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (139) |
Dividends to non-controlling interests | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (3) |  |  | (3) |
Stock-based compensation | — |  |  | — |  |  | 17 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 17 |
Other employee stock plan activities | — |  |  | — |  |  | (3) |  |  | (16) |  |  | 44 |  |  | 283 |  |  | — |  |  | — |  |  | 25 |
Treasury stock purchased | — |  |  | — |  |  | — |  |  | — |  |  | (305) |  |  | (1,648) |  |  | — |  |  | — |  |  | (305) |
Balance as of March 31, 2021 | $ | 131 |  |  | 130,741 |  |  | $ | 1,190 |  |  | $ | 1,086 |  |  | $ | (1,111) |  |  | (6,382) |  |  | $ | (553) |  |  | $ | 195 |  |  | $ | 938 |
| Nine Months Ended March 31
(Dollars in millions except per share data; shares in thousands) | Common Stock |  | Additional Paid-in Capital |  | Retained Earnings |  | Treasury Stock |  | Accumulated Other Comprehensive Net (Loss) Income |  | Non-controlling interests |  | Total Stockholders’ Equity
Amount |  | Shares |  |  |  | Amount |  | Shares |  |  |
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 (1) | — |  |  | — |  |  | — |  |  | 22 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 22 |
Net earnings | — |  |  | — |  |  | — |  |  | 629 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 629 |
Other comprehensive (loss) income | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (54) |  |  | — |  |  | (54) |
Dividends to Clorox stockholders ($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 |
Balance as of June 30, 2020 | $ | 159 |  |  | 158,741 |  |  | $ | 1,137 |  |  | $ | 3,567 |  |  | $ | (3,315) |  |  | (32,543) |  |  | $ | (640) |  |  | $ | — |  |  | $ | 908 |
Net earnings | — |  |  | — |  |  | — |  |  | 613 |  |  | — |  |  | — |  |  | — |  |  | 6 |  |  | 619 |
Other comprehensive (loss) income | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 87 |  |  | — |  |  | 87 |
Dividends to Clorox stockholders ($3.33 per share declared) | — |  |  | — |  |  | — |  |  | (421) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (421) |
Dividends to noncontrolling interests | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (9) |  |  | (9) |
Business combinations including purchase accounting adjustments | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 198 |  |  | 198 |
Stock-based compensation | — |  |  | — |  |  | 52 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 52 |
Other employee stock plan activities | — |  |  | — |  |  | 1 |  |  | (33) |  |  | 141 |  |  | 1,233 |  |  | — |  |  | — |  |  | 109 |
Treasury stock purchased | — |  |  | — |  |  | — |  |  | — |  |  | (605) |  |  | (3,072) |  |  | — |  |  | — |  |  | (605) |
Treasury stock retirement | (28) |  |  | (28,000) |  |  | — |  |  | (2,640) |  |  | 2,668 |  |  | 28,000 |  |  | — |  |  | — |  |  | — |
Balance as of March 31, 2021 | $ | 131 |  |  | 130,741 |  |  | $ | 1,190 |  |  | $ | 1,086 |  |  | $ | (1,111) |  |  | (6,382) |  |  | $ | (553) |  |  | $ | 195 |  |  | $ | 938 |
(1) 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.
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
| 3/31/2021 |  | 3/31/2020 |  | 3/31/2021 |  | 3/31/2020
| Amount |  | Shares (in thousands) |  | Amount |  | Shares (in thousands) |  | Amount |  | Shares (in thousands) |  | Amount |  | Shares (in thousands)
Open-market purchase program | $ | 200 |  |  | 1,088 |  |  | $ | — |  |  | — |  |  | $ | 200 |  |  | 1,088 |  |  | $ | 85 |  |  | 577 |
Evergreen Program | 105 |  |  | 560 |  |  | 30 |  |  | 184 |  |  | 405 |  |  | 1,984 |  |  | 134 |  |  | 847 |
Total stock repurchases | $ | 305 |  |  | 1,648 |  |  | $ | 30 |  |  | 184 |  |  | $ | 605 |  |  | 3,072 |  |  | $ | 219 |  |  | 1,424 |
Schedule of Changes in Accumulated Other Comprehensive Net (Losses) Income | Changes in Accumulated other comprehensive net (loss) income attributable to Clorox 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, 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) | (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) |
Balance as of December 31, 2020 | $ | (403) |  |  | $ | (3) |  |  | $ | (169) |  |  | $ | (575) |
Other comprehensive (loss) income before reclassifications | (6) |  |  | 33 |  |  | — |  |  | 27 |
Amounts reclassified from Accumulated other comprehensive net (loss) income | — |  |  | 2 |  |  | 3 |  |  | 5 |
Income tax benefit (expense), and other | (1) |  |  | (8) |  |  | (1) |  |  | (10) |
Net current period other comprehensive (loss) income | (7) |  |  | 27 |  |  | 2 |  |  | 22 |
Balance as of March 31, 2021 | $ | (410) |  |  | $ | 24 |  |  | $ | (167) |  |  | $ | (553) |
| 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, 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) | (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) |
Balance as of June 30, 2020 | $ | (450) |  |  | $ | (18) |  |  | $ | (172) |  |  | $ | (640) |
Other comprehensive (loss) income before reclassifications | 38 |  |  | 47 |  |  | — |  |  | 85 |
Amounts reclassified from Accumulated other comprehensive net (loss) income | — |  |  | 7 |  |  | 7 |  |  | 14 |
Income tax benefit (expense), and other | 2 |  |  | (12) |  |  | (2) |  |  | (12) |
Net current period other comprehensive (loss) income | 40 |  |  | 42 |  |  | 5 |  |  | 87 |
Balance as of March 31, 2021 | $ | (410) |  |  | $ | 24 |  |  | $ | (167) |  |  | $ | (553) |

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