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STOCK-BASED COMPENSATION PLANS (Tables) | 12 Months Ended
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Jun. 30, 2024
Share-Based Payment Arrangement, Noncash Expense [Abstract] |
Schedule of Compensation Cost and Related Income Tax Benefit | Compensation cost and the related income tax benefit recognized for stock-based compensation plans were classified as indicated below for the fiscal years ended June 30:
| 2024 |  | 2023 |  | 2022
Cost of products sold | $ | 7 |  |  | $ | 7 |  |  | $ | 6 |
Selling and administrative expenses | 63 |  |  | 61 |  |  | 42 |
Research and development costs | 4 |  |  | 5 |  |  | 4 |
Total compensation costs | $ | 74 |  |  | $ | 73 |  |  | $ | 52 |
Related income tax benefit | $ | 18 |  |  | $ | 17 |  |  | $ | 12 |
Schedule of Fair Value of each Stock Option Award Granted | The fair value of each stock option award granted during fiscal years 2023 and 2022 was estimated on the date of grant using the Black-Scholes valuation model and assumptions noted in the following table:
|  | 2023 |  | 2022
Expected life |  | 5.3 years |  | 5.4 years
Weighted-average expected life |  | 5.3 years |  | 5.4 years
Expected volatility |  | 24.2% |  | 21.7% to 25.0%
Weighted-average volatility |  | 24.2% |  | 21.8%
Risk-free interest rate |  | 3.7% |  | 0.9% to 2.1%
Weighted-average risk-free interest rate |  | 3.7% |  | 0.9%
Dividend yield |  | 3.4% |  | 2.9% to 3.7%
Weighted-average dividend yield |  | 3.4% |  | 2.9%
Schedule of Stock Option Activity | Details of the Company’s stock option activities are summarized below:
| Number of Shares (In thousands) |  | Weighted- Average Exercise Price per Share |  | Average Remaining Contractual Life |  | Aggregate Intrinsic Value
Options outstanding as of June 30, 2023 | 4,075 |  |  | $ | 147 |  |  | 5 years |  | $ | 69 |
Granted | — |  |  |  |  |  |  |
Exercised | (234) |  |  | 104 |  |  |  |  |
Canceled | (51) |  |  | 170 |  |  |  |  |
Options outstanding as of June 30, 2024 | 3,790 |  |  | $ | 150 |  |  | 4 years |  | $ | 16 |
Options vested as of June 30, 2024 | 3,052 |  |  | $ | 148 |  |  | 4 years |  | $ | 16 |
Schedule of Restricted Stock Awards | A summary of the status of the Company’s restricted stock awards is presented below:
| Number of Shares (In thousands) |  | Weighted-Average Grant Date Fair Value per Share
Restricted stock awards as of June 30, 2023 | 544 |  |  | $ | 155 |
Granted | 405 |  |  | 139 |
Vested | (173) |  |  | 162 |
Forfeited | (55) |  |  | 142 |
Restricted stock awards as of June 30, 2024 | 721 |  |  | $ | 145 |
Schedule of Performance Share Awards | A summary of the status of the Company’s performance share awards is presented below:
| Number of Shares (In thousands) |  | Weighted-Average Grant Date Fair Value per Share
Performance share awards as of June 30, 2023 | 368 |  |  | $ | 158 |
Granted | 176 |  |  | $ | 140 |
Distributed | (39) |  |  | $ | 189 |
Forfeited | (22) |  |  | $ | 177 |
Performance share awards as of June 30, 2024 | 483 |  |  | $ | 148 |
Performance shares vested and deferred as of June 30, 2024 | 83 |  |  | $ | 164 |

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- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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