STOCKHOLDERS' EQUITY

9 Months Ended

Mar. 31, 2019

Equity [Abstract]

STOCKHOLDERS' EQUITY

STOCKHOLDERS’ EQUITY

Changes in the components of Stockholders’ equity were as follows for the periods indicated:

	Three Months Ended March 31
	Common Stock			Additional Paid-in Capital			Retained Earnings			Treasury Stock					Accumulated Other Comprehensive Net (Loss) Income			Total Stockholders’ Equity
	Amount		Shares (in thousands)							Amount			Shares (in thousands)
Balance as of December 31, 2017	$	159	158,741	$	941		$	2,649		$	(2,465	)	(29,393	)	$	(524	)	$	760
Net earnings							181											181
Other comprehensive income (loss)															(1		)	(1		)
Dividends ($0.96 per share declared)							(125		)									(125		)
Stock-based compensation				14														14
Other employee stock plan activities				1			(1		)	8			141					8
Treasury stock purchased										—			—					—
Balance as of March 31, 2018	$	159	158,741	$	956		$	2,704		$	(2,457	)	(29,252	)	$	(525	)	$	837
Balance as of December 31, 2018	$	159	158,741	$	1,014		$	2,940		$	(2,794	)	(30,651	)	$	(577	)	$	742
Net earnings							187											187
Other comprehensive income (loss)															13			13
Dividends ($0.96 per share declared)							(123		)									(123		)
Stock-based compensation				16														16
Other employee stock plan activities				3			—			16			264					19
Treasury stock purchased										(73		)	(466	)				(73		)
Balance as of March 31, 2019	$	159	158,741	$	1,033		$	3,004		$	(2,851	)	(30,853	)	$	(564	)	$	781
	Nine Months Ended March 31
	Common Stock			Additional Paid-in Capital			Retained Earnings			Treasury Stock					Accumulated Other Comprehensive Net (Loss) Income			Total Stockholders’ Equity
	Amount		Shares (in thousands)							Amount			Shares (in thousands)
Balance as of June 30, 2017	$	159	158,741	$	928		$	2,440		$	(2,442	)	(29,727	)	$	(543	)	$	542
Net earnings							606											606
Other comprehensive income (loss)															18			18
Dividends ($2.64 per share declared)							(343		)									(343		)
Stock-based compensation				37														37
Other employee stock plan activities				(9		)	1			48			951					40
Treasury stock purchased										(63		)	(476	)				(63		)
Balance as of March 31, 2018	$	159	158,741	$	956		$	2,704		$	(2,457	)	(29,252	)	$	(525	)	$	837
Balance as of June 30, 2018	$	159	158,741	$	975		$	2,797		$	(2,658	)	(30,759	)	$	(547	)	$	726
Cumulative effect of accounting changes (1)							(3		)									(3		)
Net earnings							579											579
Other comprehensive income (loss)															(17		)	(17		)
Dividends ($2.88 per share declared)							(369		)									(369		)
Stock-based compensation				34														34
Other employee stock plan activities				24			—			116			2,048					140
Treasury stock purchased										(309		)	(2,142	)				(309		)
Balance as of March 31, 2019	$	159	158,741	$	1,033		$	3,004		$	(2,851	)	(30,853	)	$	(564	)	$	781

(1) As a result of adopting ASU No. 2014-09, "Revenue from Contracts with Customers (Topic 606)," on July 1, 2018, the Company recorded a cumulative effect of initially applying the new guidance as an adjustment to the fiscal year 2019 opening balance of Retained earnings. See Note 1 for more information.

The Company has two stock repurchase programs: an open-market purchase program with an authorized aggregate purchase amount of up to $2,000, which has no expiration date, and a program to offset the anticipated impact of dilution related to stock-based awards (the Evergreen Program), which has no authorization limit on the dollar amount and no expiration date.

Stock repurchases under the two stock repurchase programs were as follows for the periods indicated:

	Three Months Ended						Nine Months Ended
	3/31/2019			3/31/2018			3/31/2019			3/31/2018
	Amount		Shares (in thousands)	Amount		Shares (in thousands)	Amount		Shares (in thousands)	Amount		Shares (in thousands)
Open-market purchase program	$	—	—	$	—	—	$	78	591	$	—	—
Evergreen Program	73		466	—		—	231		1,551	63		476
Total stock repurchases	$	73	466	$	—	—	$	309	2,142	$	63	476

Changes in Accumulated other comprehensive net (loss) income by component were as follows for the periods indicated:

	Three Months Ended March 31
	Foreign currency translation adjustments			Net unrealized gains (losses) on derivatives			Pension and postretirement benefit adjustments			Accumulated other comprehensive (loss) income
Balance as of December 31, 2017	$	(346	)	$	(29	)	$	(149	)	$	(524	)
Other comprehensive income (loss) before reclassifications	(4		)	1			—			(3		)
Amounts reclassified from Accumulated other comprehensive net (loss) income	—			1			1			2
Income tax benefit (expense)	—			—			—			—
Net current period other comprehensive income (loss)	(4		)	2			1			(1		)
Balance as of March 31, 2018	$	(350	)	$	(27	)	$	(148	)	$	(525	)
Balance as of December 31, 2018	$	(415	)	$	(26	)	$	(136	)	$	(577	)
Other comprehensive income (loss) before reclassifications	8			2			—			10
Amounts reclassified from Accumulated other comprehensive net (loss) income	—			2			2			4
Income tax benefit (expense)	—			(1		)	—			(1		)
Net current period other comprehensive income (loss)	8			3			2			13
Balance as of March 31, 2019	$	(407	)	$	(23	)	$	(134	)	$	(564	)

	Nine Months Ended March 31
	Foreign currency translation adjustments			Net unrealized gains (losses) on derivatives			Pension and postretirement benefit adjustments			Accumulated other comprehensive (loss) income
Balance as of June 30, 2017	$	(356	)	$	(37	)	$	(150	)	$	(543	)
Other comprehensive income (loss) before reclassifications	9			6			—			15
Amounts reclassified from Accumulated other comprehensive net (loss) income	—			6			4			10
Income tax benefit (expense)	(3		)	(2		)	(2		)	(7		)
Net current period other comprehensive income (loss)	6			10			2			18
Balance as of March 31, 2018	$	(350	)	$	(27	)	$	(148	)	$	(525	)
Balance as of June 30, 2018	$	(384	)	$	(25	)	$	(138	)	$	(547	)
Other comprehensive income (loss) before reclassifications	(22		)	(3		)	—			(25		)
Amounts reclassified from Accumulated other comprehensive net (loss) income	—			4			5			9
Income tax benefit (expense)	(1		)	1			(1		)	(1		)
Net current period other comprehensive income (loss)	(23		)	2			4			(17		)
Balance as of March 31, 2019	$	(407	)	$	(23	)	$	(134	)	$	(564	)

Included in foreign currency translation adjustments are re-measurement losses on long-term intercompany loans where settlement is not planned or anticipated in the foreseeable future. For the three and nine months ended March 31, 2019, Other comprehensive income (loss) on these loans totaled $1 and $(3), respectively. For the three and nine months ended March 31, 2018, Other comprehensive income (loss) on these loans totaled $0 and $(3), respectively. There were no amounts associated with these loans reclassified from Accumulated other comprehensive net (loss) income for the periods presented.