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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 9 Months Ended
Mar. 31, 2024
Accounting Policies [Abstract]  
Schedule of inventory and promotional merchandise
Inventory and promotional merchandise consists of the following:
(In millions)March 31, 2024June 30, 2023
Raw materials
$776 $876 
Work in process
312 362 
Finished goods
960 1,404 
Promotional merchandise
259 337 
$2,307 $2,979 
Schedule of property, plant and equipment
Property, plant and equipment consists of the following:
(In millions)March 31, 2024June 30, 2023
Assets (Useful Life)
Land and improvements(1)
$70 $70 
Buildings and improvements (10 to 40 years)
884 843 
Machinery and equipment (3 to 10 years)
1,187 1,071 
Computer hardware and software (4 to 10 years)
1,727 1,651 
Furniture and fixtures (5 to 10 years)
136 136 
Leasehold improvements
2,408 2,310 
Construction in progress677 827 
7,089 6,908 
Less accumulated depreciation and amortization
(3,956)(3,729)
$3,133 $3,179 
(1)Land improvements are depreciated over a 10 year useful life.
Schedule of effective rate for income taxes
The effective rate for income taxes for the three and nine months ended March 31, 2024 and 2023 are as follows:

Three Months Ended
March 31		Nine Months Ended
March 31
2024202320242023
Effective rate for income taxes31.1 %44.6 %33.9 %27.9 %
Basis-point change from the prior-year period(1,350)600 
Schedule of other accrued liabilities
Other accrued liabilities consist of the following:
(In millions)March 31, 2024June 30, 2023
Advertising, merchandising and sampling$283 $235 
Employee compensation507 546 
Accrued sales incentives400 321 
Deferred revenue306 323 
Payroll and other non-income taxes307 297 
Accrued income taxes315 222 
Sales return accrual289 289 
Other944 983 
$3,351 $3,216