XML 64 R50.htm IDEA: XBRL DOCUMENT
v3.23.2

EMPLOYEE BENEFIT PLANS (Tables) | 12 Months Ended
--- | ---
Jun. 30, 2023
Retirement Benefits [Abstract] |
Summary of Retirement Income and Retirement Health Care Plans | Summarized information for the Company’s retirement income and retirement health care plans as of and for the fiscal years ended June 30 is as follows:
| Retirement Income |  | Retirement Health Care
| 2023 |  | 2022 |  | 2023 |  | 2022
Change in benefit obligations: |  |  |  |  |  |  |
Benefit obligation as of beginning of year | $ | 513 |  |  | $ | 621 |  |  | $ | 28 |  |  | $ | 36 |
Service cost | 1 |  |  | 1 |  |  | — |  |  | — |
Interest cost | 18 |  |  | 15 |  |  | 1 |  |  | 1 |
Actuarial loss (gain) | (11) |  |  | (66) |  |  | (1) |  |  | (7) |
Plan amendments | — |  |  | (7) |  |  | — |  |  | — |
Translation and other adjustments | — |  |  | (6) |  |  | — |  |  | — |
Plan settlement | — |  |  | (13) |  |  | — |  |  | — |
Benefits paid | (45) |  |  | (32) |  |  | (2) |  |  | (2) |
Benefit obligation as of end of year | $ | 476 |  |  | $ | 513 |  |  | $ | 26 |  |  | $ | 28 |
Change in plan assets: |  |  |  |  |  |  |
Fair value of assets as of beginning of year | $ | 412 |  |  | $ | 506 |  |  | $ | — |  |  | $ | — |
Actual return on plan assets | — |  |  | (63) |  |  | — |  |  | — |
Employer contributions | 15 |  |  | 15 |  |  | 2 |  |  | 2 |
Plan Settlement | — |  |  | (13) |  |  | — |  |  | — |
Benefits paid | (45) |  |  | (32) |  |  | (2) |  |  | (2) |
Translation and other adjustments | (1) |  |  | (1) |  |  | — |  |  | — |
Fair value of plan assets as of end of year | 381 |  |  | 412 |  |  | — |  |  | — |
Accrued benefit cost, net funded status | $ | (95) |  |  | $ | (101) |  |  | $ | (26) |  |  | $ | (28) |
Schedule of Amounts Recognized in the Balance Sheets |
Amount recognized in the balance sheets consists of: |  |  |  |  |  |  |
Pension benefit assets | $ | 24 |  |  | $ | 30 |  |  | $ | — |  |  | $ | — |
Current accrued benefit liability | (13) |  |  | (12) |  |  | (2) |  |  | (2) |
Non-current accrued benefit liability | (106) |  |  | (119) |  |  | (24) |  |  | (26) |
Accrued benefit cost, net | $ | (95) |  |  | $ | (101) |  |  | $ | (26) |  |  | $ | (28) |
Schedule of Accumulated Benefit Obligations or Projected Benefit Obligations in Excess of Plan Assets | Retirement income plans with ABO or PBO in excess of plan assets as of June 30 were as follows:
| ABO Exceeds the Fair Value of Plan Assets | PBO Exceeds the Fair Value of Plan Assets
| 2023 |  | 2022 | 2023 | 2022
Projected benefit obligation | $ | 119 |  |  | $ | 133 |  | $ | 121 |  | $ | 133 |
Accumulated benefit obligation | 118 |  |  | 132 |  | 119 |  | 132 |
Fair value of plan assets | — |  |  | 2 |  | 2 |  | 2 |
Schedule of Components of Net Periodic Benefit Cost | The net cost of the retirement income and health care plans for the fiscal years ended June 30 included the following components:
| Retirement Income |  | Retirement Health Care
| 2023 |  | 2022 |  | 2021 |  | 2023 |  | 2022 |  | 2021
Service cost | $ | 1 |  |  | $ | 1 |  |  | $ | 2 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Interest cost | 18 |  |  | 15 |  |  | 15 |  |  | 1 |  |  | 1 |  |  | 1 |
Expected return on plan assets | (10) |  |  | (15) |  |  | (16) |  |  | — |  |  | — |  |  | — |
Settlement loss recognized | — |  |  | 7 |  |  | 5 |  |  | — |  |  | — |  |  | — |
Amortization of unrecognized items | 8 |  |  | 9 |  |  | 11 |  |  | (2) |  |  | (1) |  |  | (2) |
Total | $ | 17 |  |  | $ | 17 |  |  | $ | 17 |  |  | $ | (1) |  |  | $ | — |  |  | $ | (1) |
Schedule of Items Not Yet Recognized as a Component of Postretirement Expense | Items not yet recognized as a component of postretirement expense as of June 30, 2023 consisted of:
| Retirement Income |  | Retirement Health Care
Net actuarial loss (gain) | $ | 213 |  |  | $ | (14) |
Prior service benefit | (5) |  |  | — |
Net deferred income tax (assets) liabilities | (50) |  |  | 3 |
Accumulated other comprehensive loss (income) | $ | 158 |  |  | $ | (11) |
Net Actuarial Loss (Gain) Recorded in Accumulated Other Comprehensive Net (Loss) Income | Net actuarial loss (gain) recorded in Accumulated other comprehensive net (loss) income for the fiscal year ended June 30, 2023 included the following:
| Retirement Income |  | Retirement Health Care
Net actuarial loss (gain) as of beginning of year | $ | 222 |  |  | $ | (15) |
Amortization during the year | (9) |  |  | 2 |
Loss (gain) during the year | — |  |  | (1) |
Net actuarial loss (gain) as of end of year | $ | 213 |  |  | $ | (14) |
Schedule of Weighted Average Assumptions Used | Weighted-average assumptions used to estimate the actuarial present value of benefit obligations were as follows as of June 30:
| Retirement Income |  | Retirement Health Care
| 2023 |  | 2022 |  | 2023 |  | 2022
Discount rate | 4.37 | % |  | 3.72 | % |  | 5.10 | % |  | 4.65 | %
Rate of compensation increase | 3.62 | % |  | 3.09 | % |  | n/a |  | n/a
Interest crediting rate | 2.67 | % |  | 2.69 | % |  | n/a |  | n/a
Weighted-average assumptions used to estimate the retirement income and retirement health care costs were as follows as of June 30:
| Retirement Income
| 2023 |  | 2022 |  | 2021
Discount rate | 3.72 | % |  | 2.56 | % |  | 2.45 | %
Rate of compensation increase | 3.09 | % |  | 3.02 | % |  | 2.92 | %
Expected return on plan assets | 2.67 | % |  | 3.00 | % |  | 3.08 | %
Interest crediting rate | 2.69 | % |  | 2.57 | % |  | 1.92 | %
| Retirement Health Care
| 2023 |  | 2022 |  | 2021
Discount rate | 4.65 | % |  | 2.61 | % |  | 2.51 | %
Schedule of Expected Benefit Payments | Expected benefit payments for the Company’s retirement income and retirement health care plans as of June 30, 2023, were as follows:
| Retirement Income |  | Retirement Health Care
2024 | $ | 358 |  |  | $ | 2 |
2025 | 15 |  |  | 2 |
2026 | 15 |  |  | 2 |
2027 | 14 |  |  | 2 |
2028 | 13 |  |  | 2 |
Fiscal years 2029 through 2033 | 52 |  |  | 10 |
Schedule of Target Allocation and Weighted Average Allocation of Plan Assets | The target allocations and weighted average asset allocations by asset category of the investment portfolio for the Company’s domestic retirement income plans as of June 30 were:
| % Target Allocation |  | % of Plan Assets
| 2023 |  | 2022 |  | 2023 |  | 2022
Fixed income | 80 | % |  | 100 | % |  | 79 | % |  | 99 | %
Cash equivalents | 20 | % |  | — | % |  | 21 | % |  | 1 | %
Total | 100 | % |  | 100 | % |  | 100 | % |  | 100 | %
The following table sets forth the retirement income plans’ assets carried at fair value as of June 30:
|  | 2023 | 2022
Cash equivalents — Level 1 |  | 74 | 0
Total assets in the fair value hierarchy |  | 74 | 0
Common collective trusts measured at net asset value |  |  |
Bond funds |  | $ | 289 |  | $ | 391 |
International equity funds |  | 15 |  | 14 |
Domestic equity funds |  | — |  | — |
Short-term investment fund |  | 1 |  | 4 |
Real estate fund |  | 2 |  | 3 |
Total common collect trust measured at net asset value |  | $ | 307 |  | $ | 412 |
Total assets at fair value |  | $ | 381 |  | $ | 412 |

X
- Definition Tabular disclosure of the change in the benefit obligation, fair value of plan assets, and funded status of pension plans or other employee benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Subparagraph (a)(b)(c) -Paragraph 1 -SubTopic 20 -Topic 715 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ChangesInProjectedBenefitObligationsFairValueOfPlanAssetsAndFundedStatusOfPlanTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of benefit obligation and plan assets of defined benefit plan with accumulated benefit obligation in excess of plan assets. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 17 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480482/715-20-55-17 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-3 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-3 + Details
Name: | us-gaap_ScheduleOfAccumulatedBenefitObligationsInExcessOfFairValueOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (d)(5) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amounts that are recognized in the balance sheet (or statement of financial position) for pension plans and/or other employee benefit plans, showing separately the assets and current and noncurrent liabilities (if applicable) recognized. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfAmountsRecognizedInBalanceSheetTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the net gain (loss) and net prior service cost or credit recognized in other comprehensive income (loss) for the period for pension plans and/or other employee benefit plans, and reclassification adjustments of other comprehensive income (loss) for the period, as those amounts, including amortization of the net transition asset or obligation, are recognized as components of net periodic benefit cost. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfAmountsRecognizedInOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (k) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (f) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (h) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amounts related to pension plans and/or other employee benefit plans in accumulated other comprehensive income or loss that have not yet been recognized as components of net periodic benefit cost, such as the net gain (loss), net prior service cost or credit, and net transition asset or obligation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (j) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfNetPeriodicBenefitCostNotYetRecognizedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration