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v3.25.1

EMPLOYEE BENEFIT PLANS | 9 Months Ended
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Mar. 31, 2025
Retirement Benefits [Abstract] |
EMPLOYEE BENEFIT PLANS | EMPLOYEE BENEFIT PLANS In the second quarter of fiscal year 2024, the Company settled plan benefits of its domestic qualified pension plan (the Plan) and recorded a one-time noncash charge, net of curtailment gain, of $171 before taxes ($130 after tax) in the Company’s condensed consolidated statement of earnings and comprehensive income. The Company continues to maintain various other retirement income plans for eligible domestic and international employees. The following table summarizes the components of net periodic benefit (credit) cost for the Company’s remaining retirement income plans:
| Three months ended |  | Nine months ended
| 3/31/2025 |  | 3/31/2024 |  | 3/31/2025 |  | 3/31/2024
Interest cost | $ | 1 |  |  | $ | 2 |  |  | $ | 4 |  |  | $ | 10 |
Expected return on plan assets (1) | — |  |  | — |  |  | (1) |  |  | (2) |
Amortization of unrecognized items | — |  |  | — |  |  | — |  |  | 3 |
Curtailment gain | — |  |  | — |  |  | — |  |  | (6) |
Settlement (gain) loss | 2 |  |  | — |  |  | (2) |  |  | 178 |
Total | $ | 3 |  |  | $ | 2 |  |  | $ | 1 |  |  | $ | 183 |
(1)The weighted average long-term expected rate of return on plan assets used in computing the fiscal year 2025 net periodic benefit cost is 5.8%. The net periodic benefit (credit) cost for the Company’s retirement health care plans was $0 and ($1) for the three and nine months ended March 31, 2025, respectively and ($1) for both the three and nine months ended March 31, 2024. During both the three months ended March 31, 2025 and 2024, the Company made $8 in contributions to its domestic retirement income plans. During both the nine months ended March 31, 2025 and 2024, the Company made $12 in contributions to its domestic retirement income plans. Service cost component of the net periodic benefit cost, if any, is reflected in employee benefit costs. All other components are reflected in Other (income) expense, net.

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