PENSION AND POST-RETIREMENT BENEFIT PLANS (Tables)

6 Months Ended

Dec. 31, 2021

Retirement Benefits [Abstract]

Schedule of components of net periodic benefit cost for pension and other post-retirement benefit plans

The components of net periodic benefit cost for the three months ended December 31, 2021 and 2020 consisted of the following:

	Pension Plans								Other than Pension Plans
	U.S.				International				Post-retirement
(In millions)	2021		2020		2021		2020		2021		2020
Service cost	$	11	$	11	$	8	$	9	$	—	$	—
Interest cost	7		7		2		3		2		2
Expected return on plan assets	(13)		(13)		(3)		(3)		(1)		—
Amortization of:
Actuarial loss	3		5		1		1		1		—
Prior service cost	—		—		(1)		—		—		—
Special termination benefits	—		—		1		7		—		—
Net periodic benefit cost	$	8	$	10	$	8	$	17	$	2	$	2

The components of net periodic benefit cost for the six months ended December 31, 2021 and 2020 consisted of the following:

	Pension Plans								Other than Pension Plans
	U.S.				International				Post-retirement
(In millions)	2021		2020		2021		2020		2021		2020
Service cost	$	23	$	22	$	16	$	18	$	1	$	—
Interest cost	15		15		5		5		3		3
Expected return on plan assets	(27)		(26)		(7)		(6)		(1)		—
Amortization of:
Actuarial loss	7		10		1		2		1		—
Prior service cost	—		—		(1)		—		—		—
Special termination benefits	—		—		3		9		—		—
Net periodic benefit cost	$	18	$	21	$	17	$	28	$	4	$	3

Schedule of amounts recognized in the consolidated balance sheets related to the Company's pension and post-retirement benefit plans

The amounts recognized in the consolidated balance sheets related to the Company’s pension and post-retirement benefit plans consist of the following:

(In millions)	December 31 2021		June 30 2021
Other assets	$	150	$	162
Other accrued liabilities	(28)		(28)
Other noncurrent liabilities	(427)		(432)
Funded status	(305)		(298)
Accumulated other comprehensive loss	233		242
Net amount recognized	$	(72)	$	(56)