Equity and Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Jun. 30, 2021

Equity [Abstract]

Accumulated other comprehensive earnings/(loss)

Accumulated other comprehensive loss by component and changes for the fiscal years ended June 30, 2021, 2020, and 2019 consist of:

(Dollars in millions)	Foreign Currency Translation Adjustment		Pension Liability Adjustments		Derivatives and Hedges		Marketable Securities		Other		Total
Balance at June 30, 2018	$	(285)	$	(40)	$	—	$	—	$	(1)	$	(326)
Other comprehensive loss before reclassifications	(19)		—		—		—		—		(19)
Amounts reclassified from Other Comprehensive Loss	—		(9)		—		—		—		(9)
Balance at June 30, 2019	(304)		(49)		—		—		(1)		(354)
Other comprehensive loss before reclassifications	(31)		—		(3)		—		—		(34)
Amounts reclassified from Other Comprehensive Loss	—		2		—		—		—		2
Balance at June 30, 2020	(335)		(47)		(3)		—		(1)		(386)
Other comprehensive income (loss) before reclassifications	67		—		3		(1)		—		69
Balance at June 30, 2021	$	(268)	$	(47)	$	—	$	(1)	$	(1)	$	(317)

Schedule of Comprehensive Income (Loss)

The components of the changes in the cumulative translation adjustment, derivatives and hedges, minimum pension liability, and marketable securities for the fiscal years ended June 30, 2021, 2020, and 2019 consists of:

	Fiscal Year Ended June 30,
(Dollars in millions)	2021		2020		2019
Foreign currency translation adjustments:
Net investment hedge	$	(56)	$	3	$	12
Long-term inter-company loans	39		(9)		(13)
Translation adjustments	72		(25)		(16)
Total foreign currency translation adjustments, pretax	55		(31)		(17)
Tax expense (benefit)	(12)		—		2
Total foreign currency translation adjustments, net of tax	$	67	$	(31)	$	(19)
Net change in derivatives and hedges:
Net gain (loss) recognized during the year, pretax	$	4	$	(4)	$	—
Tax expense (benefit)	1		(1)		—
Net change in derivatives and hedges, net of tax	$	3	$	(3)	$	—
Net change in minimum pension liability:
Net gain (loss) recognized during the year, pretax	$	—	$	4	$	(13)
Tax expense (benefit)	—		2		(4)
Net change in minimum pension liability, net of tax	$	—	$	2	$	(9)
Net change in marketable securities:
Net loss recognized during the year, pretax	$	(1)	$	—	$	—
Tax expense (benefit)	—		—		—
Net change in marketable securities, net of tax	$	(1)	$	—	$	—

Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss by component and changes for the fiscal years ended June 30, 2021, 2020, and 2019 consist of:

(Dollars in millions)	Foreign Currency Translation Adjustment		Pension Liability Adjustments		Derivatives and Hedges		Marketable Securities		Other		Total
Balance at June 30, 2018	$	(285)	$	(40)	$	—	$	—	$	(1)	$	(326)
Other comprehensive loss before reclassifications	(19)		—		—		—		—		(19)
Amounts reclassified from Other Comprehensive Loss	—		(9)		—		—		—		(9)
Balance at June 30, 2019	(304)		(49)		—		—		(1)		(354)
Other comprehensive loss before reclassifications	(31)		—		(3)		—		—		(34)
Amounts reclassified from Other Comprehensive Loss	—		2		—		—		—		2
Balance at June 30, 2020	(335)		(47)		(3)		—		(1)		(386)
Other comprehensive income (loss) before reclassifications	67		—		3		(1)		—		69
Balance at June 30, 2021	$	(268)	$	(47)	$	—	$	(1)	$	(1)	$	(317)