v3.26.1
Defined Benefit Plans (Tables)
 12 Months Ended
Jun. 30, 2026
Retirement Benefits [Abstract]  
Schedule of Periodic Benefit Costs for Benefit Plans Net periodic benefit cost for benefit plans includes the following components:
Years ended June 30,
($ in millions)202620252024
Service cost$26 $19 $18 
Interest cost88 58 50 
Expected return on plan assets(97)(61)(57)
Amortization of net loss3 7 3 
Amortization of prior service credit(2)(3)(4)
Curtailment credit— — (1)
Settlement costs 13 12 3 
Net periodic benefit cost$31 $32 $12 
Schedule of Changes in Benefit Obligations Changes in benefit obligations and plan assets were as follows:
($ in millions)June 30, 2026June 30, 2025
Change in benefit obligation:
Benefit obligation at the beginning of the year$1,988 $1,227 
Service cost26 19 
Interest cost88 58 
Participant contributions7 6 
Actuarial (gain)/loss16 (31)
Settlements(263)(157)
Benefits paid(107)(77)
Administrative expenses(9)(5)
Acquisitions and divestitures3 860 
Other(3)— 
Foreign currency translation(37)88 
Benefit obligation at the end of the year$1,709 $1,988 
Accumulated benefit obligation at the end of the year$1,671 $1,942 
Schedule of Changes in Fair Value of Plan Assets
Change in plan assets:
Fair value of plan assets at the beginning of the year$1,684 $1,033 
Actual return on plan assets97 17 
Employer contributions80 51 
Participant contributions7 6 
Benefits paid(107)(77)
Settlements(263)(157)
Administrative expenses(9)(5)
Acquisitions and divestitures9 739 
Foreign currency translation(32)77 
Fair value of plan assets at the end of the year$1,467 $1,684 
Funded status at the end of the year$(243)$(304)
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets The following table provides information for defined benefit plans with a projected benefit obligation in excess of plan assets:
($ in millions)June 30, 2026June 30, 2025
Projected benefit obligation$1,188 $1,298 
Fair value of plan assets868 934 
Schedule of Accumulated Benefit Obligations in Excess of Plan Assets The following table provides information for defined benefit plans with an accumulated benefit obligation in excess of plan assets:
($ in millions)June 30, 2026June 30, 2025
Accumulated benefit obligation$1,163 $1,261 
Fair value of plan assets862 920 
Schedule of Amounts Recognized in Balance Sheet The following table provides information as to how the funded status is recognized in the consolidated balance sheets:
($ in millions)June 30, 2026June 30, 2025
Current assets - Prepaid expenses and other current assets$20 $— 
Non-current assets - Employee benefit assets57 60 
Current liabilities - Other current liabilities(11)(12)
Non-current liabilities - Employee benefit obligations(309)(352)
Funded status$(243)$(304)
Schedule of Amounts Recognized in Other Comprehensive (Income) Loss Amounts recognized in other comprehensive (income)/loss are as follows:
Years ended June 30,
($ in millions)202620252024
Changes in plan assets and benefit obligations recognized in other comprehensive (income)/loss:
Net actuarial loss occurring during the year$16 $12 $57 
Net prior service loss occurring during the year— 1 1 
Amortization of actuarial loss(3)(7)(3)
Gain recognized due to settlement/curtailment(13)(12)(2)
Amortization of prior service credit2 3 4 
Acquisition related loss1 — — 
Tax effect(2)1 (12)
Total recognized in other comprehensive (income)/loss$1 $(2)$45 
    
    
    Amounts in AOCI that have not yet been recognized as net periodic benefit cost are as follows:
June 30,
($ in millions)202620252024
Net prior service credit$(9)$(11)$(13)
Net actuarial loss188 192 181 
Accumulated other comprehensive loss at the end of the year$179 $181 $168 
Schedule of Weighted-average Assumptions Used Weighted-average assumptions used to determine benefit obligations were:
June 30,
202620252024
Discount rate4.6 %4.7 %4.2 %
Rate of compensation increase1.9 %1.9 %1.9 %
    
    Weighted-average assumptions used to determine net periodic benefit cost were:
Years ended June 30,
202620252024
Discount rate4.7 %4.2 %4.3 %
Rate of compensation increase1.9 %1.9 %1.9 %
Expected long-term rate of return on plan assets5.8 %5.2 %5.5 %
Schedule of Expected Benefit Payments The following benefit payments for the succeeding five years and thereafter, which reflect expected future service, as appropriate, are expected to be paid for the fiscal years ending June 30:
($ in millions)
2027$105 
2028105 
2029102 
2030110 
2031111 
Thereafter 568 
Schedule of Pension Plan Assets Measured at Fair Value The pension plan assets measured at fair value were as follows:
June 30, 2026
($ in millions)Level 1Level 2Level 3Total
Equity securities$152 $6 $— $158 
Debt securities (1)(65)719 — 654 
Real estate9 66 99 174 
Insurance contracts— — 407 407 
Cash and cash equivalents24 7 — 31 
Other8 28 7 43 
Total$128 $826 $513 $1,467 
(1)This category includes repurchase agreement ("repo") positions utilized within certain pension schemes' liability-driven investment ("LDI") strategies. Under a repo, cash is borrowed from a counterparty against bond collateral and invested in additional fixed income assets, resulting in the recognition of both an asset (the acquired securities) and a corresponding repo liability representing the obligation to repay the borrowing. Repo arrangements are used to efficiently manage liquidity and obtain exposure to fixed-income assets. Securities subject to repo arrangements are classified as Level 2 in the fair value hierarchy. The related repo liabilities are classified as Level 1, reflecting valuation based on quoted market prices in active markets.
June 30, 2025
($ in millions)Level 1Level 2Level 3Total
Equity securities$133 $124 $— $257 
Debt securities365 256 103 724 
Real estate8 87 54 149 
Insurance contracts— — 308 308 
Cash and cash equivalents187 17 — 204 
Other7 27 8 42 
Total$700 $511 $473 $1,684 
Schedule of Changes in Fair Value Level 3 Assets The following table sets forth a summary of changes in the value of the Company's Level 3 plan assets:
($ in millions)
Balance as of June 30, 2025$473 
Actual return on plan assets1 
Purchases, sales, and settlements36 
Transfer into Level 318 
Foreign currency translation(15)
Balance as of June 30, 2026$513