v3.26.1
PENSION AND POST-RETIREMENT BENEFIT PLANS (Tables)
 12 Months Ended
Jun. 30, 2026
Retirement Benefits [Abstract]  
Schedule of Balance Sheet activity
The components of the above-mentioned plans as of and for the years ended June 30, 2026 and 2025 are summarized as follows:
Pension PlansOther than
Pension Plans
U.S.InternationalPost-retirement
(In millions)202620252026202520262025
Change in benefit obligation:
Benefit obligation, beginning of year
$964 $941 $595 $541 $143 $144 
Service cost34 35 28 28 1 1 
Interest cost53 51 18 18 8 8 
Plan participant contributions— — 8 8 1 1 
Actuarial loss (gain)15 (8)(41)12 1 2 
Foreign currency exchange rate impact— — 6 36 — (1)
Benefits, expenses, taxes and premiums paid(75)(54)(28)(31)(10)(14)
Plan amendments— — — — — — 
Settlements and curtailments
(2)(1)(22)(20)— 2 
Special termination benefits— — 3 3 — — 
Benefit obligation, end of year
$989 $964 $567 $595 $144 $143 
Change in plan assets:
Fair value of plan assets, beginning of year
$826 $801 $611 $567 $— $— 
Actual return on plan assets97 35 28 16 — — 
Foreign currency exchange rate impact— — 2 37 — — 
Employer contributions71 44 32 35 9 13 
Plan participant contributions— — 8 8 1 1 
Settlements— — (18)(21)— — 
Benefits, expenses, taxes and premiums paid from plan assets(75)(54)(28)(31)(10)(14)
Fair value of plan assets, end of year
$919 $826 $635 $611 $— $— 
Funded status$(70)$(138)$68 $16 $(144)$(143)
Amounts recognized in the Balance Sheet consist of:
Other assets$39 $— $161 $128 $— $— 
Other accrued liabilities(30)(29)(5)(6)(10)(9)
Other noncurrent liabilities(79)(109)(88)(106)(134)(134)
Funded status(70)(138)68 16 (144)(143)
Accumulated other comprehensive loss (income)
202 256 (24)22 (4)(10)
Net amount recognized$132 $118 $44 $38 $(148)$(153)
Schedule of components of net periodic benefit costs and assumptions
Pension PlansOther than
Pension Plans
U.S.InternationalPost-retirement
($ in millions)202620252024202620252024202620252024
Components of net periodic benefit cost:
Service cost$34 $35 $35 $28 $28 $26 $1 $1 $2 
Interest cost53 51 46 18 18 19 8 8 8 
Expected return on assets(52)(50)(54)(27)(26)(25)— — (1)
Amortization of:
Actuarial loss (gain)
21 20 4 (1)(6)(8)— — — 
Prior service cost1 — 1 (1)— (1)(5)(6)(3)
Settlements and curtailments— — — 1 — — — — — 
Special termination benefits— — — 3 3 1 — — — 
Net periodic benefit cost$57 $56 $32 $21 $17 $12 $4 $3 $6 
Assumptions used to determine benefit obligations at June 30:
Discount rate
5.20 – 5.80%
5.30 – 5.90%
5.50 – 5.70%
1.50 – 9.75%
1.00 – 10.25%
1.75 – 10.00%
5.00 – 8.50%
5.00 – 10.25%
5.00 – 11.00%
Rate of compensation increase
2.50 – 8.00%
2.50 – 8.00%
2.50 – 8.00%
1.50 – 4.75%
1.50 – 5.00%
1.50 – 5.00%
N/AN/AN/A
Weighted-average assumptions used to determine benefit obligations at June 30:
Discount rate5.73 %5.83 %5.68 %3.59 %3.16 %3.50 %5.42 %5.59 %5.51 %
Rate of compensation increase
2.50 – 8.00%
2.50 – 8.00%
2.50 – 8.00%
2.76 %2.82 %3.00 %N/AN/AN/A
Assumptions used to determine net periodic benefit cost for the year ended June 30:
Discount rate
5.30 – 5.90%
5.50 – 5.70%
5.20 – 5.30%
1.00 – 10.25%
1.75 – 10.00%
1.00 – 9.00%
5.00 – 10.25%
5.00 – 11.00%
5.00 – 10.75%
Expected return on assets6.25 %6.25 %6.25 %
2.75 – 10.25%
2.75 – 10.00%
2.25 – 9.00%
N/AN/A6.25 %
Rate of compensation increase
2.50 – 8.00%
2.50 – 8.00%
2.50 – 8.00%
1.50 – 5.00%
1.50 – 5.00%
1.75 – 5.00%
N/AN/AN/A
Weighted-average assumptions used to determine net periodic benefit cost for the year ended June 30:
Discount rate5.83 %5.68 %5.29 %3.16 %3.50 %3.69 %5.59 %5.51 %5.19 %
Expected return on assets
6.25 %6.25 %6.25 %4.14 %4.13 %4.06 %N/AN/A6.25 %
Rate of compensation increase
2.50 – 8.00%
2.50 – 8.00%
2.50 – 8.00%
2.82 %3.00 %3.08 %N/AN/AN/A
Amounts recognized in AOCI (before tax)
Amounts recognized in AOCI (before tax) as of June 30, 2026 and 2025 are as follows:
Pension PlansOther than
Pension Plans
(In millions)U.S.InternationalPost-retirementTotal
Net actuarial losses (gains) as of June 30, 2024$268 $(4)$1 $265 
Actuarial losses recognized7 22 2 31 
Amortization and settlements included in net periodic benefit cost(20)5 — (15)
Translation adjustments— — 1 1 
Net actuarial losses as of June 30, 2025255 23 4 282 
Net prior service cost as of June 30, 20241 (1)(22)(22)
Amortization included in net periodic benefit cost— — 6 6 
Curtailments included in net periodic benefit cost
— — 2 2 
Net prior service cost as of June 30, 20251 (1)(14)(14)
Total amounts recognized in AOCI as of June 30, 2025$256 $22 $(10)$268 
Net actuarial losses as of June 30, 2025$255 $23 $4 $282 
Actuarial (gains) losses recognized(32)(46)1 (77)
Amortization and settlements included in net periodic benefit cost(21)— — (21)
Translation adjustments— (1)— (1)
Net actuarial losses (gains) as of June 30, 2026202 (24)5 183 
Net prior service cost as of June 30, 20261 (1)(14)(14)
Amortization included in net periodic benefit cost(1)1 5 5 
Net prior service cost as of June 30, 2026— — (9)(9)
Total amounts recognized in AOCI as of June 30, 2026$202 $(24)$(4)$174 
Projected benefit obligation, accumulated benefit obligation and fair value of plan assets for the company's pension plans
The projected benefit obligation, accumulated benefit obligation and fair value of plan assets for the Company’s pension plans at June 30, 2026 and 2025 are as follows:
Pension PlansOther than
 Pension Plans
Retirement Growth
Account		RestorationInternationalPost-retirement
(In millions)20262025202620252026202520262025
Projected benefit obligation$880 $846 $109 $118 $567 $595 $144 $143 
Accumulated benefit obligation$863 $825 $105 $112 $513 $532 $— $— 
Fair value of plan assets$919 $826 $— $— $635 $611 $— $— 
Expected cash flows
The expected cash flows for the Company’s pension and post-retirement plans are as follows:
Pension PlansOther than
Pension Plans
(In millions)U.S.InternationalPost-retirement
Expected employer contributions for year ending June 30, 2027$31 $27 $10 
Expected benefit payments for year ending June 30,
2027113 44 10 
202891 36 11 
202981 37 12 
203064 35 11 
203157 36 11 
Years 2032 – 2036305 184 54 
Target asset allocation
The Company’s target asset allocation at June 30, 2026 is as follows:
Pension Plans
U.S.International
Equity39 %22 %
Debt securities50 %56 %
Other11 %22 %
100 %100 %
Fair values of the company's pension and post-retirement plan assets by asset category
The following table presents the fair values of the Company’s pension and post-retirement plan assets by asset category as of June 30, 2026:
(In millions)Level 1Level 2Level 3Assets Measured at
Net Asset Value as a Practical Expedient		Total
Cash and cash equivalents$1 $— $— $— $1 
Short-term investment funds— 24 — 4 28 
Government and agency securities296 — — — 296 
Commingled funds350 632 — 147 1,129 
Insurance contracts— — 20 — 20 
Interests in limited partnerships and hedge fund investments— — — 80 80 
Total$647 $656 $20 $231 $1,554 

The following table presents the fair values of the Company’s pension and post-retirement plan assets by asset category as of June 30, 2025:
(In millions)Level 1Level 2Level 3Assets Measured at
Net Asset Value as a Practical Expedient		Total
Cash and cash equivalents$2 $— $— $— $2 
Short-term investment funds— 7 — 4 11 
Government and agency securities144 — — — 144 
Commingled funds324 695 — 159 1,178 
Insurance contracts— — 18 — 18 
Interests in limited partnerships and hedge fund investments— — — 84 84 
Total$470 $702 $18 $247 $1,437 
Changes in Level 3 plan assets
The following table presents the changes in Level 3 plan assets:
June 30,
(In millions)20262025
Insurance Contracts
Balance at beginning of year$18 $14 
Actual return on plan assets:
Relating to assets still held at the reporting date— — 
Purchases, sales, issuances and settlements, net1 3 
Foreign exchange impact1 1 
Balance at end of year$20 $18