v3.26.1
Debt (Tables)
 12 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Carrying Value of Long-term Debt The following table summarizes the carrying value of long-term debt as of June 30, 2026, and 2025, respectively:
June 30,
($ in millions)MaturitiesInterest rates20262025
Term debt
First Priority Senior Secured Notes, $1,525 million (3)
Jan 20261.57 %$— $1,525 
U.S. dollar notes, $600 million (3)
Apr 20263.63 %— 600 
First Priority Senior Secured Notes, $750 million (3)
Jul 20264.88 %— 750 
U.S. dollar notes, $300 million (3)
Sep 20263.10 %300 300 
U.S. dollar notes, $400 million (3)
Jan 20271.65 %400 400 
Euro bonds, €375 million (3) (4)
Jan 20271.50 %429 439 
Euro bonds, €500 million (3)
Jun 20271.13 %571 585 
U.S. dollar notes, $725 million
Mar 20284.80 %725 725 
U.S. dollar notes, $500 million
Apr 20285.50 %500 500 
U.S. dollar notes, $500 million (5)
May 20284.50 %500 500 
U.S. dollar notes, $750 million (2)
Mar 20294.25 %750 — 
U.S. dollar notes, $500 million
May 20295.45 %500 500 
Euro notes, €750 million (1)
Nov 20293.20 %857 — 
U.S. dollar notes, $725 million
Mar 20305.10 %725 725 
U.S. dollar notes, $500 million
Jun 20302.63 %500 500 
U.S. dollar notes, $800 million (5)
May 20312.69 %800 800 
U.S. dollar notes, $800 million
Jun 20315.80 %800 800 
Euro notes, €500 million
May 20323.95 %571 585 
Euro notes, €750 million (1)
Feb 20333.75 %857 — 
U.S. dollar notes, $500 million
May 20335.63 %500 500 
U.S. dollar notes, $800 million
Jan 20345.65 %800 800 
U.S. dollar notes, $750 million
Mar 20355.50 %750 750 
U.S. dollar notes, $750 million (2)
Mar 20365.13 %750 — 
Total term debt (7)$12,585 $12,284 
Bank loans$11 $23 
Commercial paper (3)1,294 1,702 
Other loans29 33 
Finance lease obligations44 56 
Fair value hedge accounting adjustments (6)(60)(63)
Unamortized discounts and debt issuance costs(26)(53)
Total debt$13,877 $13,982 
Less: current portion(15)(141)
Total long-term debt$13,862 $13,841 
(1)On November 12, 2025, the Company issued additional guaranteed senior euro notes in an aggregate principal amount of €1.5 billion (collectively, the “November Notes”). The November Notes consist of (i) €750 million principal amount of 3.20% Guaranteed Senior Notes due 2029 and (ii) €750 million principal amount of 3.75% Guaranteed Senior Notes due 2033. The November Notes are senior unsecured obligations and are unconditionally guaranteed on a senior unsecured basis by the Company and certain of its subsidiaries. The Company used the net proceeds from the Notes to repay certain existing indebtedness of Berry in connection with the closing of the Merger.
(2)On March 5, 2026, the Company issued additional guaranteed senior notes in an aggregate principal amount of $1.5 billion (collectively, the “March Notes”). The March Notes consist of (i) $750 million principal amount of 4.25% Guaranteed Senior Notes
due 2029 and (ii) $750 million principal amount of 5.125% Guaranteed Senior Notes due 2036. The March Notes are senior unsecured obligations and are unconditionally guaranteed on a senior unsecured basis by the Company and certain of its subsidiaries.
(3)Indicates debt which has been classified as long-term liabilities in accordance with the Company’s ability and intent to refinance such obligations on a long-term basis.
(4)The €375 million bond that was assumed as a result of the Merger is designated as a Net Investment Hedge.
(5)Bonds linked to designated fair value interest rate hedging relationships. There is a corresponding fair value basis adjustment to the carrying value of these bonds.
(6)Relates to fair value hedge basis adjustments relating to interest rate hedging.
(7)Aggregate bond values presented at par.
Schedule of Contractual Maturities of Long-term Debt The following table summarizes the contractual maturities of the Company's long-term debt, including current maturities (excluding payments for finance leases) as of June 30, 2026, for the succeeding five fiscal years ending June 30:
($ in millions)
2027$1,704 
20281,726 
20291,250 
2030 (1)3,376 
20311,600 
Thereafter4,263 
(1)    Commercial paper is classified as maturing in 2030, supported by the 5-year syndicated facility, with two 12-month options available to the Company to extend the maturity date.
Schedule of Short-term Debt The following table summarizes the carrying value of short-term debt as of June 30, 2026, and 2025, respectively:
June 30,
($ in millions)20262025
Bank loans$63 $79 
Secured borrowings1 1 
Bank overdrafts70 36 
Total short-term debt$135 $116