v3.25.2
INCOME TAXES (Tables)
 12 Months Ended
Jun. 30, 2025
Income Tax Disclosure [Abstract]  
Schedule of Income before Income Tax, Domestic and Foreign
Earnings before income taxes consisted of the following:
Fiscal years ended June 30202520242023
United States$13,911 $12,246 $12,107 
International6,256 6,515 6,246 
TOTAL$20,167 $18,761 $18,353 
Schedule of Components of Income Tax Expense (Benefit)
Income taxes consisted of the following:
Fiscal years ended June 30202520242023
CURRENT TAX EXPENSE
U.S. federal$2,215 $1,954 $2,303 
International1,330 1,708 1,412 
U.S. state and local407 368 353 
TOTAL3,953 4,031 4,068 
DEFERRED TAX EXPENSE/(BENEFIT)
U.S. federal9 (133)(224)
International and other141 (111)(229)
TOTAL149 (244)(453)
TOTAL TAX EXPENSE$4,102 $3,787 $3,615 
Schedule of Effective Income Tax Rate Reconciliation
A reconciliation of the U.S. federal statutory income tax rate to our actual effective income tax rate is provided below:
Fiscal years ended June 30202520242023
U.S. federal statutory income tax rate21.0 %21.0 %21.0 %
Country mix impacts of foreign operations(0.4)%0.1 %(0.5)%
State income taxes, net of federal benefit1.7 %1.8 %1.6 %
Excess tax benefits from the exercise of stock options(1.4)%(1.5)%(1.0)%
Foreign derived intangible income deduction (FDII)(0.8)%(1.1)%(0.8)%
Changes in uncertain tax positions0.1 %0.1 %0.1 %
Other0.2 %(0.2)%(0.7)%
EFFECTIVE INCOME TAX RATE20.3 %20.2 %19.7 %
Schedule of Unrecognized Tax Benefits Roll Forward
A reconciliation of the beginning and ending liability for uncertain tax positions is as follows:
Fiscal years ended June 30202520242023
BEGINNING OF YEAR$582 $515 $583 
Increases in tax positions for prior years240 157 113 
Decreases in tax positions for prior years(181)(133)(119)
Increases in tax positions for current year57 160 60 
Settlements with taxing authorities(65)(100)(108)
Lapse in statute of limitations(6)(9)(7)
Currency translation7 (8)(7)
END OF YEAR$634 $582 $515 
Schedule of Deferred Tax Assets and Liabilities
Deferred income tax assets and liabilities were comprised of the following:
As of June 3020252024
DEFERRED TAX ASSETS
Capitalized research & development$1,251 $1,140 
Loss and other carryforwards857 892 
Pension and other retiree benefits601 592 
Accrued marketing and promotion497 460 
Stock-based compensation445 433 
Unrealized loss on financial and foreign exchange transactions358 107 
Fixed assets230 206 
Lease liabilities212 199 
Other758 843 
Valuation allowances(293)(290)
TOTAL$4,915 $4,582 
DEFERRED TAX LIABILITIES
Goodwill and other intangible assets$5,475 $5,459 
Fixed assets1,547 1,573 
Other retiree benefits1,102 1,319 
Lease right-of-use assets209 196 
Foreign withholding tax on earnings to be repatriated131 104 
Unrealized gain on financial and foreign exchange transactions96 263 
Other492 441 
TOTAL$9,052 $9,355