FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Sep. 30, 2024

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS [Abstract]

Schedule of Effects of Derivative Instruments Designated as Hedging Instruments on OCI

The effects of derivative instruments designated as hedging instruments on Other comprehensive (loss) income and Net earnings (losses) were as follows:

	Gains (losses) recognized in Other comprehensive (loss) income
	Three months ended
	9/30/2024		9/30/2023
Commodity purchase derivative contracts	$	(3)	$	(1)
Foreign exchange derivative contracts	(1)		1
Total	$	(4)	$	—

Schedule of Effects of Derivative Instruments Designated as Hedging Instruments on Net Earnings

	Location of gains (losses) reclassified from Accumulated other comprehensive net (loss) income into Net earnings	Gains (losses) reclassified from Accumulated other comprehensive net (loss) income and recognized in Net earnings
		Three months ended
		9/30/2024		9/30/2023
Commodity purchase derivative contracts	Cost of products sold	$	(1)	$	(2)
Foreign exchange derivative contracts	Cost of products sold	—		—
Interest rate derivative contracts	Interest expense	3		3
Total		$	2	$	1

Schedule of Assets and Liabilities for Fair Value of Derivative Instruments and Fair Value Disclosure

The following table provides information about the balance sheet classification and the fair values of the Company’s derivative instruments:

			9/30/2024				6/30/2024
	Balance sheet classification	Fair value hierarchy level	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Assets
Commodity purchase swaps contracts	Prepaid expenses and other current assets	2	$	—	$	—	$	1	$	1
			$	—	$	—	$	1	$	1
Liabilities
Commodity purchase futures contracts	Accounts payable and accrued liabilities	1	$	2	$	2	$	2	$	2
Commodity purchase swaps contracts	Accounts payable and accrued liabilities	2	1		1		—		—
Foreign exchange forward contract	Accounts payable and accrued liabilities	2	1		1		—		—
			$	4	$	4	$	2	$	2

The following table provides information about the balance sheet classification and the fair values of the Company’s other assets and liabilities for which disclosure of fair value is required:

			9/30/2024				6/30/2024
	Balance sheet classification	Fair value hierarchy level	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Assets
Interest-bearing investments, including money market funds	Cash and cash equivalents (1)	1	$	154	$	154	$	95	$	95
Time deposits	Cash and cash equivalents (1)	2	9		9		9		9
Trust assets for nonqualified deferred compensation plans	Other assets	1	170		170		154		154
			$	333	$	333	$	258	$	258
Liabilities
Notes and loans payable	Notes and loans payable (2)	2	$	4	$	4	$	4	$	4
Long-term debt	Long-term debt (3)	2	2,482		2,433		2,481		2,341
			$	2,486	$	2,437	$	2,485	$	2,345

(1)Cash and cash equivalents are composed of time deposits and other interest-bearing investments, including money market funds with original maturity dates of 90 days or less. Cash and cash equivalents are recorded at cost, which approximates fair value.

(2)Notes and loans payable are composed of outstanding U.S. commercial paper balances and/or amounts drawn on the Company’s credit agreements, all of which are recorded at cost, which approximates fair value.

(3)Long-term debt is recorded at cost. The fair value of Long-term debt was determined using secondary market prices quoted by corporate bond dealers, and is classified as Level 2.