Cover Page - shares	6 Months Ended
Cover Page - shares	Dec. 31, 2019	Jan. 21, 2020
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2019
Document Transition Report	false
Entity File Number	1-07151
Entity Registrant Name	THE CLOROX COMPANY
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	31-0595760
Entity Address, Address Line One	1221 Broadway
Entity Address, City or Town	Oakland
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94612-1888
City Area Code	510
Local Phone Number	271-7000
Title of 12(b) Security	Common Stock-$1.00 par value
Trading Symbol	CLX
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		125,099,598
Entity Central Index Key	0000021076
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2020

Condensed Consolidated Statements of Earnings and Comprehensive Income (Unaudited) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
Net sales	$ 1,449	$ 1,473	$ 2,955	$ 3,036
Cost of products sold	810	830	1,653	1,715
Gross profit	639	643	1,302	1,321
Selling and administrative expenses	210	211	421	423
Advertising costs	140	145	277	284
Research and development costs	34	32	64	64
Interest expense	25	24	50	48
Other (income) expense, net	(5)	7	(3)	10
Earnings before income taxes	235	224	493	492
Income taxes	50	42	105	100
Net earnings	$ 185	$ 182	$ 388	$ 392
Net earnings per share
Basic net earnings per share (in dollars per share)	$ 1.48	$ 1.42	$ 3.09	$ 3.07
Diluted net earnings per share (in dollars per share)	$ 1.46	$ 1.40	$ 3.05	$ 3.02
Weighted average shares outstanding (in thousands)
Basic (in shares)	125,440	128,068	125,632	127,955
Diluted (in shares)	126,879	130,094	127,198	130,107
Comprehensive income	$ 199	$ 152	$ 389	$ 362

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Dec. 31, 2019	Jun. 30, 2019
Current assets
Cash and cash equivalents	$ 168	$ 111
Receivables, net	544	631
Inventories, net	514	512
Prepaid expenses and other current assets	77	51
Total current assets	1,303	1,305
Property, plant and equipment, net of accumulated depreciation and amortization of $2,185 and $2,150, respectively	1,052	1,034
Operating lease right-of-use assets	303
Goodwill	1,588	1,591
Trademarks, net	790	791
Other intangible assets, net	115	121
Other assets	308	274
Total assets	5,459	5,116
Current liabilities
Notes and loans payable	507	396
Current operating lease liabilities	61
Accounts payable and accrued liabilities	945	1,035
Income taxes payable	0	9
Total current liabilities	1,513	1,440
Long-term debt	2,288	2,287
Long-term operating lease liabilities	282
Other liabilities	745	780
Deferred income taxes	76	50
Total liabilities	4,904	4,557
Commitments and contingencies
Stockholders’ equity
Preferred stock: $1.00 par value; 5,000,000 shares authorized; none issued or outstanding	0	0
Common stock: $1.00 par value; 750,000,000 shares authorized; 158,741,461 shares issued as of December 31, 2019 and June 30, 2019; and 125,024,628 and 125,686,325 shares outstanding as of December 31, 2019 and June 30, 2019, respectively	159	159
Additional paid-in capital	1,062	1,046
Retained earnings	3,292	3,150
Treasury shares, at cost: 33,716,833 and 33,055,136 shares as of December 31, 2019 and June 30, 2019, respectively	(3,357)	(3,194)
Accumulated other comprehensive net (loss) income	(601)	(602)
Stockholders’ equity	555	559
Total liabilities and stockholders’ equity	$ 5,459	$ 5,116

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2019	Jun. 30, 2019
Statement of Financial Position [Abstract]
Property, plant and equipment, accumulated depreciation and amortization	$ 2,185	$ 2,150
Preferred stock, par value (in dollars per share)	$ 1.00	$ 1.00
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 1.00	$ 1.00
Common stock, shares authorized (in shares)	750,000,000	750,000,000
Common stock, shares issued (in shares)	158,741,461	158,741,461
Common stock, shares outstanding (in shares)	125,024,628	125,686,325
Treasury stock, shares (in shares)	33,716,833	33,055,136

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Operating activities:
Net earnings	$ 388	$ 392
Adjustments to reconcile net earnings to net cash provided by operations:
Depreciation and amortization	88	88
Stock-based compensation	19	18
Deferred income taxes	12	2
Other	21	25
Changes in:
Receivables, net	86	68
Inventories, net	(3)	(74)
Prepaid expenses and other current assets	(9)	(15)
Accounts payable and accrued liabilities	(80)	(43)
Operating lease right-of-use assets and liabilities, net	7
Income taxes payable	(31)	(12)
Net cash provided by operations	498	449
Investing activities:
Capital expenditures	(111)	(86)
Other	13	9
Net cash used for investing activities	(98)	(77)
Financing activities:
Notes and loans payable, net	106	33
Treasury stock purchased	(195)	(243)
Cash dividends paid	(266)	(245)
Issuance of common stock for employee stock plans and other	17	117
Net cash used for financing activities	(338)	(338)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(1)	(3)
Net increase (decrease) in cash, cash equivalents, and restricted cash	61	31
Cash, cash equivalents, and restricted cash:
Beginning of period	113	134
End of period	$ 174	$ 165

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Dec. 31, 2019
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The unaudited interim condensed consolidated financial statements for the three and six months ended December 31, 2019 and 2018, in the opinion of management, reflect all adjustments (consisting of normal recurring accruals) necessary for a fair presentation of the consolidated results of operations, financial position and cash flows of The Clorox Company and its subsidiaries (the Company) for the periods presented. However, the financial results for interim periods are not necessarily indicative of the results that may be expected for a full fiscal year or for any other future period. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States (U.S. GAAP) have been omitted or condensed pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (SEC). The information in this report should be read in conjunction with the Company’s Annual Report on Form 10-K filed with the SEC for the fiscal year ended June 30, 2019, which includes a complete set of footnote disclosures, including the Company’s significant accounting policies. Leases Effective July 1, 2019, the Company adopted Accounting Standards Codification 842, Leases (ASC 842). Under this guidance, the Company determines whether an arrangement contains a lease at inception by determining if the contract conveys the right to control the use of identified property, plant or equipment for a period of time in exchange for consideration and other facts and circumstances. Right-of-use (ROU) assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets are calculated based on the lease liability adjusted for any lease payments paid to the lessor at or before the commencement date and initial direct costs incurred by the Company and excludes any lease incentives received from the lessor. Lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term. The lease term may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option as of the commencement date of the lease, and is reviewed in subsequent periods if a triggering event occurs. As the Company’s leases typically do not contain a readily determinable implicit rate, the Company determines the present value of the lease liability using its incremental borrowing rate at the lease commencement date based on the lease term and the currency of the lease on a collateralized basis. Variable lease payments are the portion of lease payments that are not fixed over the lease term. Variable lease payments are expensed as incurred, and include certain non-lease components, such as maintenance and other services provided by the lessor, and other charges included in the lease, as applicable. The Company elected to combine lease and non-lease components as a single lease component and to exclude short-term leases, defined as leases with initial terms of 12 months or less, from its condensed consolidated balance sheet. Recently Issued Accounting Standards Recently Issued Accounting Standards Not Yet Adopted In December 2019, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes,” which simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740 and clarifies and amends existing guidance to improve consistent application. The standard will be effective for the Company beginning in the first quarter of fiscal year 2022, with early adoption permitted. The Company is currently evaluating the impact that the adoption of this guidance will have on its consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-04, “Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment,” which eliminates the requirement to calculate the implied fair value of goodwill to measure a goodwill impairment charge. The new guidance is effective for the Company beginning in the first quarter of fiscal year 2021, with early adoption permitted. The Company intends to adopt the standard no later than July 1, 2020. The impact of the new standard will be dependent on the specific facts and circumstances of future individual impairments, if any. Recently Adopted Accounting Standards In August 2017, the FASB issued ASU No. 2017-12, “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities,” which amends the hedge accounting recognition and presentation requirements to better align an entity’s risk management activities with its financial reporting. This standard also simplifies the application of hedge accounting in certain situations. The Company adopted this new guidance in the first quarter of fiscal year 2020 and the adoption did not have a material impact on the Company’s consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842),” which requires lessees to recognize a ROU asset and a lease liability for all leases with terms of more than 12 months. Recognition, measurement and presentation will depend on the classification of a lease as either a finance or an operating lease. ASU 2016-02 also requires expanded disclosures about leasing arrangements. In July 2018, the FASB issued ASU No. 2018-11, “Leases (Topic 842), Targeted Improvements,” which provides an optional transition method in applying the new lease standard. Topic 842 can be applied using either a modified retrospective approach at the beginning of the earliest period presented, or, as permitted by ASU 2018-11, at the beginning of the period in which it is adopted. The Company adopted the new standard in the first quarter of fiscal year 2020, on a modified retrospective basis using the optional transition method, and, accordingly, has not restated comparative periods; fiscal year 2019 balances and related disclosures supporting those comparative period balances continue to be presented under ASC 840, “Leases.” As allowed under the new standard, the Company elected to apply the package of practical expedients to not reassess prior conclusions related to contracts containing leases, lease classification and initial direct costs. Upon adoption, the Company recorded a cumulative effect adjustment to the opening balance of Retained earnings of $22 related primarily to the remaining deferred gain from the sale-leaseback of the Company’s general office building in Oakland, California. This new standard did not have a material impact on the Company’s condensed consolidated statement of earnings or the condensed consolidated statement of cash flows. Refer to Note 3 for more information.

INVENTORIES, NET

6 Months Ended

Dec. 31, 2019

Inventory Disclosure [Abstract]

INVENTORIES, NET

Inventories, net, consisted of the following as of:



	12/31/2019			6/30/2019
Finished goods	$	415		$	411
Raw materials and packaging	127			125
Work in process	7			6
LIFO allowances	(35		)	(30		)
Total	$	514		$	512

LEASES AND OTHER COMMITMENTS LEASES AND OTHER COMMITMENTS

6 Months Ended

Dec. 31, 2019

Leases [Abstract]

LEASES AND OTHER COMMITMENTS

The Company leases various property, plant and equipment, including office, warehousing, manufacturing and research and development facilities and equipment. These leases have remaining lease terms of up to 11 years, inclusive of renewal or termination options that the Company is reasonably certain to exercise. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants.

Supplemental balance sheet information related to the Company’s leases was as follows:



	Balance sheet classification	12/31/2019
Operating leases
Right-of-use assets	Operating lease right-of-use assets	$	303
Current lease liabilities	Current operating lease liabilities	61
Non-current lease liabilities	Long-term operating lease liabilities	282
Total operating lease liabilities		$	343

Finance leases
Right-of-use assets	Other assets	$	14
Current lease liabilities	Accounts payable and accrued liabilities	2
Non-current lease liabilities	Other liabilities	12
Total finance lease liabilities		$	14

Components of lease cost were as follows:



	Three Months Ended		Six Months Ended
	12/31/2019		12/31/2019
Operating lease cost	$	19	37
Finance lease cost:
Amortization of right-of-use assets	1		2
Interest on lease liabilities	—		—
Total finance lease cost	$	1	2
Variable lease cost	$	10	20
Short term lease cost	1		1

Supplemental cash flow information and non-cash activity related to the Company’s leases were as follows:



	Six Months Ended
	12/31/2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases, net	$	29
Operating cash flows from finance leases	—
Financing cash flows from finance leases	1
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	16
Finance leases	7

Weighted-average remaining lease term and discount rate for the Company’s leases were as follows:



	12/31/2019
Weighted-average remaining lease term:
Operating leases	8 years
Finance leases	8 years
Weighted-average discount rate:
Operating leases	2.6	%
Finance leases	3.3	%

Maturities of lease liabilities by fiscal year for the Company’s leases as of December 31, 2019 were as follows:



Year	Operating leases			Finance leases
2020	$	22		$	1
2021	67			2
2022	52			2
2023	45			2
2024	40			2
Thereafter	156			7
Total lease payments	$	382		$	16
Less: Imputed interest	(39		)	(2		)
Total lease liabilities	$	343		$	14

The future minimum annual lease payments required under the Company’s existing non-cancelable operating and capital lease agreements as of June 30, 2019 prior to the adoption of ASC 842 were as follows:



Year	Operating leases		Capital leases
2020	$	71	$	2
2021	65		2
2022	50		1
2023	42		1
2024	37		1
Thereafter	124		2
Total lease payments	$	389	$	9

LEASES AND OTHER COMMITMENTS

The Company leases various property, plant and equipment, including office, warehousing, manufacturing and research and development facilities and equipment. These leases have remaining lease terms of up to 11 years, inclusive of renewal or termination options that the Company is reasonably certain to exercise. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants.

Supplemental balance sheet information related to the Company’s leases was as follows:



	Balance sheet classification	12/31/2019
Operating leases
Right-of-use assets	Operating lease right-of-use assets	$	303
Current lease liabilities	Current operating lease liabilities	61
Non-current lease liabilities	Long-term operating lease liabilities	282
Total operating lease liabilities		$	343

Finance leases
Right-of-use assets	Other assets	$	14
Current lease liabilities	Accounts payable and accrued liabilities	2
Non-current lease liabilities	Other liabilities	12
Total finance lease liabilities		$	14

Components of lease cost were as follows:



	Three Months Ended		Six Months Ended
	12/31/2019		12/31/2019
Operating lease cost	$	19	37
Finance lease cost:
Amortization of right-of-use assets	1		2
Interest on lease liabilities	—		—
Total finance lease cost	$	1	2
Variable lease cost	$	10	20
Short term lease cost	1		1

Supplemental cash flow information and non-cash activity related to the Company’s leases were as follows:



	Six Months Ended
	12/31/2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases, net	$	29
Operating cash flows from finance leases	—
Financing cash flows from finance leases	1
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	16
Finance leases	7

Weighted-average remaining lease term and discount rate for the Company’s leases were as follows:



	12/31/2019
Weighted-average remaining lease term:
Operating leases	8 years
Finance leases	8 years
Weighted-average discount rate:
Operating leases	2.6	%
Finance leases	3.3	%

Maturities of lease liabilities by fiscal year for the Company’s leases as of December 31, 2019 were as follows:



Year	Operating leases			Finance leases
2020	$	22		$	1
2021	67			2
2022	52			2
2023	45			2
2024	40			2
Thereafter	156			7
Total lease payments	$	382		$	16
Less: Imputed interest	(39		)	(2		)
Total lease liabilities	$	343		$	14

The future minimum annual lease payments required under the Company’s existing non-cancelable operating and capital lease agreements as of June 30, 2019 prior to the adoption of ASC 842 were as follows:



Year	Operating leases		Capital leases
2020	$	71	$	2
2021	65		2
2022	50		1
2023	42		1
2024	37		1
Thereafter	124		2
Total lease payments	$	389	$	9

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS

6 Months Ended

Dec. 31, 2019

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS [Abstract]

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS

Financial Risk Management and Derivative Instruments

The Company is exposed to certain commodity, foreign currency and interest rate risks related to its ongoing business operations and uses derivative instruments to mitigate its exposure to these risks.

Commodity Price Risk Management

The Company may use commodity exchange traded futures and over-the-counter swap contracts, which are generally no longer than 2 years, to fix the price of a portion of its forecasted raw material requirements. Commodity purchase contracts are measured at fair value using market quotations obtained from the Chicago Board of Trade commodity futures exchange and commodity derivative dealers.

As of December 31, 2019, the notional amount of commodity derivatives was $24, of which $13 related to soybean oil futures used for the Food products business and $11 related to jet fuel swaps used for the Grilling business. As of June 30, 2019, the notional amount of commodity derivatives was $24, of which $13 related to soybean oil futures and $11 related to jet fuel swaps.

Foreign Currency Risk Management

The Company may also enter into certain over-the-counter derivative contracts to manage a portion of the Company’s forecasted foreign currency exposure associated with the purchase of inventory. These foreign currency contracts generally have durations of no longer than 2 years. The foreign exchange contracts are measured at fair value using information quoted by foreign exchange dealers.

The notional amounts of outstanding foreign currency forward contracts used by the Company’s subsidiaries to hedge forecasted purchases of inventory were $49 and $61, respectively, as of December 31, 2019 and June 30, 2019.

Interest Rate Risk Management

The Company may enter into over-the-counter interest rate forward contracts to fix a portion of the benchmark interest rate prior to the anticipated issuance of fixed rate debt or to manage the Company’s level of fixed and floating rate debt. These interest rate forward contracts generally have durations of less than 12 months. The interest rate contracts are measured at fair value using information quoted by U.S. government bond dealers.

As of December 31, 2019 and June 30, 2019, the Company had no outstanding interest rate forward contracts.

Commodity, Foreign Exchange and Interest Rate Derivatives

The Company designates its commodity forward and futures contracts for forecasted purchases of raw materials, foreign currency forward contracts for forecasted purchases of inventory and interest rate forward contracts for forecasted interest payments as cash flow hedges.

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



	Gains (losses) recognized in Other comprehensive income
	Three Months Ended						Six Months Ended
	12/31/2019			12/31/2018			12/31/2019		12/31/2018
Commodity purchase derivative contracts	$	3		$	(10	)	$	3	$	(6	)
Foreign exchange derivative contracts	(1		)	1			—		1
Interest rate derivative contracts	—			—			—		—
Total	$	2		$	(9	)	$	3	$	(5	)



	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						Six Months Ended
		12/31/2019			12/31/2018			12/31/2019			12/31/2018
Commodity purchase derivative contracts	Cost of products sold	$	(1	)	$	(4	)	$	(1	)	$	—
Foreign exchange derivative contracts	Cost of products sold	—			—			—			1
Interest rate derivative contracts	Interest expense	(1		)	(1		)	(3		)	(3		)
Total		$	(2	)	$	(5	)	$	(4	)	$	(2	)

The estimated amount of the existing net gain (loss) in Accumulated other comprehensive net (loss) income as of December 31, 2019, that is expected to be reclassified into Net earnings within the next twelve months is $(4).

Counterparty Risk Management and Derivative Contract Requirements

The Company utilizes a variety of financial institutions as counterparties for over-the-counter derivative instruments. The Company enters into agreements governing the use of over-the-counter derivative instruments and sets internal limits on the aggregate over-the-counter derivative instrument positions held with each counterparty. Certain terms of these agreements require the Company or the counterparty to post collateral when the fair value of the derivative instrument exceeds contractually defined counterparty liability position limits. Of the over-the-counter derivative instruments in liability positions held as of both December 31, 2019 and June 30, 2019, $0 and $1 respectively, contained such terms. As of December 31, 2019 and June 30, 2019, neither the Company nor any counterparty was required to post any collateral as no counterparty liability position limits were exceeded.

Certain terms of the agreements governing the Company’s over-the-counter derivative instruments require the credit ratings of the Company and its counterparties, as assigned by Standard & Poor’s and Moody’s, to remain at a level equal to or better than the minimum of an investment grade credit rating. If the Company’s credit ratings were to fall below investment grade, the counterparties to the derivative instruments could request full collateralization on derivative instruments in net liability positions. As of both December 31, 2019 and June 30, 2019, the Company and each of its counterparties had been assigned investment grade credit ratings by both Standard & Poor’s and Moody’s.

Certain of the Company’s exchange-traded futures contracts used for commodity price risk management include requirements for the Company to post collateral in the form of a cash margin account held by the Company’s broker for trades conducted on that exchange. As of December 31, 2019, the Company maintained a negative cash margin balance related to exchange-traded futures contracts of $1, which is classified as Accounts payable and accrued liabilities in the condensed consolidated balance sheet. As of June 30, 2019, the Company maintained a cash margin balance related to exchange-traded futures contracts of $1, which is classified as Prepaid expenses and other current assets in the consolidated balance sheet.

Trust Assets

The Company has held interests in mutual funds and cash equivalents as part of the trust assets related to its nonqualified deferred compensation plans. The participants in the nonqualified deferred compensation plans, who are the Company’s current and former employees, may select among certain mutual funds in which to invest their compensation deferrals in accordance with the terms of the plans and within the confines of the trusts, which hold the marketable securities. The trusts represent variable interest entities for which the Company is considered the primary beneficiary, and, therefore, trust assets are consolidated and included in Other assets in the condensed consolidated balance sheets. The interests in mutual funds are measured at fair value using quoted market prices. The Company has designated these marketable securities as trading investments.

Fair Value Measurements

Financial assets and liabilities measured at fair value on a recurring basis in the condensed consolidated balance sheets are required to be classified and disclosed in one of the following three categories of the fair value hierarchy:

Level 1: Quoted market prices in active markets for identical assets or liabilities.

Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data.

Level 3: Unobservable inputs reflecting the reporting entity’s own assumptions.

As of December 31, 2019 and June 30, 2019, the Company’s financial assets and liabilities that were measured at fair value on a recurring basis included derivative financial instruments, which were classified as either Level 1 or Level 2, and trust assets to fund the Company’s nonqualified deferred compensation plans, which were classified as Level 1.

All of the Company’s derivative instruments qualify for hedge accounting. The following table provides information about the balance sheet classification and the fair values of the Company’s derivative instruments:



			12/31/2019				6/30/2019
	Balance sheet classification	Fair value hierarchy level	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Assets
Commodity purchase futures contracts	Prepaid expenses and other current assets	1	$	2	$	2	$	—	$	—
			$	2	$	2	$	—	$	—
Liabilities
Commodity purchase futures contracts	Accounts payable and accrued liabilities	1	$	—	$	—	$	1	$	1
Commodity purchase swaps contracts	Accounts payable and accrued liabilities	2	1		1		1		1
			$	1	$	1	$	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:



			12/31/2019				6/30/2019
	Balance sheet classification	Fair value hierarchy level	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Assets
Investments, including money market funds	Cash and cash equivalents ^(a)	1	$	49	$	49	$	26	$	26
Time deposits	Cash and cash equivalents ^(a)	2	9		9		7		7
Trust assets for nonqualified deferred compensation plans	Other assets	1	106		106		96		96
			$	164	$	164	$	129	$	129
Liabilities
Notes and loans payable	Notes and loans payable ^(b)	2	$	507	$	507	$	396	$	396
Current maturities of long-term debt and Long-term debt	Current maturities of long- term debt and Long-term debt ^(c)	2	2,288		2,425		2,287		2,402
			$	2,795	$	2,932	$	2,683	$	2,798

____________________


(a)	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.


(b)	Notes and loans payable is composed of U.S. commercial paper and/or other similar short-term debt issued by non-U.S. subsidiaries, all of which are recorded at cost, which approximates fair value.

(c)

Current maturities of long-term debt and Long-term debt are recorded at cost. The fair value of Long-term debt, including current maturities, was determined using secondary market prices quoted by corporate bond dealers, and is classified as Level 2.

DEBT	6 Months Ended
DEBT	Dec. 31, 2019
Debt Disclosure [Abstract]
DEBT	DEBT On November 15, 2019, the Company entered into a new $1,200 revolving credit agreement (the Credit Agreement) that matures in November 2024. The Credit Agreement replaced a prior $1,100 revolving credit agreement in place since February 2017. No termination fees or penalties were incurred in connection with entering the new agreement, which was considered a debt modification. There were no borrowings under either the new Credit Agreement or the existing credit agreement as of December 31, 2019 and June 30, 2019, respectively, and the Company believes that borrowings under the new Credit Agreement will continue to be available for general corporate purposes. The new Credit Agreement includes certain restrictive covenants and limitations consistent with the previous agreement, with which the Company was in compliance as of December 31, 2019.

INCOME TAXES	6 Months Ended
INCOME TAXES	Dec. 31, 2019
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES In determining its quarterly provision for income taxes, the Company uses an estimated annual effective tax rate, which is based on expected annual income, statutory tax rates and tax planning opportunities available in the various jurisdictions in which the Company operates. Certain significant or unusual items are separately recognized in the quarter in which they occur and can be a source of variability in the effective tax rates from quarter to quarter. The effective tax rate on earnings was 21.0% and 21.3% for both the three and six months ended December 31, 2019, respectively, and 18.8% and 20.2% for the three and six months ended December 31, 2018, respectively. In comparison to prior period, the Company had a reduced benefit from excess tax deductions offset by a greater benefit from releases of uncertain tax positions.

NET EARNINGS PER SHARE (EPS)

6 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

NET EARNINGS PER SHARE (EPS)

The following is the reconciliation of the weighted average number of shares outstanding (in thousands) used to calculate basic net EPS to those used to calculate diluted net EPS:



	Three Months Ended		Six Months Ended
	12/31/2019	12/31/2018	12/31/2019	12/31/2018
Basic	125,440	128,068	125,632	127,955
Dilutive effect of stock options and other	1,439	2,026	1,566	2,152
Diluted	126,879	130,094	127,198	130,107

Antidilutive stock options and other	1,792	1	1,035	831

COMPREHENSIVE INCOME

6 Months Ended

Dec. 31, 2019

Stockholders' Equity Note [Abstract]

COMPREHENSIVE INCOME

The following table provides a summary of Comprehensive income for the periods indicated:



	Three Months Ended					Six Months Ended
	12/31/2019		12/31/2018			12/31/2019			12/31/2018
Net earnings	$	185	$	182		$	388		$	392
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	9		(29		)	(7		)	(31		)
Net unrealized gains (losses) on derivatives	4		(2		)	6			(1		)
Pension and postretirement benefit adjustments	1		1			2			2
Total other comprehensive income (loss), net of tax	14		(30		)	1			(30		)
Comprehensive income	$	199	$	152		$	389		$	362

STOCKHOLDERS' EQUITY

6 Months Ended

Dec. 31, 2019

Equity [Abstract]

STOCKHOLDERS' EQUITY

STOCKHOLDERS’ EQUITY

Changes in the components of Stockholders’ equity were as follows for the periods indicated:



	Three Months Ended December 31
	Common Stock			Additional Paid-in Capital			Retained Earnings			Treasury Stock					Accumulated Other Comprehensive Net (Loss) Income			Total Stockholders’ Equity
	Amount		Shares (in thousands)	Additional Paid-in Capital			Retained Earnings			Amount			Shares (in thousands)		Accumulated Other Comprehensive Net (Loss) Income			Total Stockholders’ Equity
Balance as of September 30, 2018	$	159	158,741	$	984		$	2,883		$	(2,802	)	(31,136	)	$	(547	)	$	677
Net earnings							182											182
Other comprehensive income (loss)															(30		)	(30		)
Dividends ($0.96 per share declared)							(123		)									(123		)
Stock-based compensation				10														10
Other employee stock plan activities				20			(2		)	46			738					64
Treasury stock purchased										(38		)	(253	)				(38		)
Balance as of December 31, 2018	$	159	158,741	$	1,014		$	2,940		$	(2,794	)	(30,651	)	$	(577	)	$	742

Balance as of September 30, 2019	$	159	158,741	$	1,043		$	3,241		$	(3,278	)	(33,246	)	$	(615	)	$	550
Net earnings							185											185
Other comprehensive income (loss)															14			14
Dividends ($1.06 per share declared)							(133		)									(133		)
Stock-based compensation				13														13
Other employee stock plan activities				6			(1		)	6			106					11
Treasury stock purchased										(85		)	(577	)				(85		)
Balance as of December 31, 2019	$	159	158,741	$	1,062		$	3,292		$	(3,357	)	(33,717	)	$	(601	)	$	555

	Six Months Ended December 31
	Common Stock			Additional Paid-in Capital			Retained Earnings			Treasury Stock					Accumulated Other Comprehensive Net (Loss) Income			Total Stockholders’ Equity
	Amount		Shares (in thousands)	Additional Paid-in Capital			Retained Earnings			Amount			Shares (in thousands)		Accumulated Other Comprehensive Net (Loss) Income			Total Stockholders’ Equity
Balance as of June 30, 2018	$	159	158,741	$	975		$	2,797		$	(2,658	)	(30,759	)	$	(547	)	$	726
Cumulative effect of accounting changes, net of tax ⁽¹⁾							(3		)									(3		)
Net earnings							392											392
Other comprehensive income (loss)															(30		)	(30		)
Dividends ($1.92 per share declared)							(246		)									(246		)
Stock-based compensation				18														18
Other employee stock plan activities				21			—			100			1,784					121
Treasury stock purchased										(236		)	(1,676	)				(236		)
Balance as of December 31, 2018	$	159	158,741	$	1,014		$	2,940		$	(2,794	)	(30,651	)	$	(577	)	$	742

Balance as of June 30, 2019	$	159	158,741	$	1,046		$	3,150		$	(3,194	)	(33,055	)	$	(602	)	$	559
Cumulative effect of accounting changes, net of tax ⁽²⁾							22											22
Net earnings							388											388
Other comprehensive income (loss)															1			1
Dividends ($2.12 per share declared)							(267		)									(267		)
Stock-based compensation				19														19
Other employee stock plan activities				(3		)	(1		)	26			578					22
Treasury stock purchased										(189		)	(1,240	)				(189		)
Balance as of December 31, 2019	$	159	158,741	$	1,062		$	3,292		$	(3,357	)	(33,717	)	$	(601	)	$	555

(1) As a result of adopting ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606),” on July 1, 2018, the Company recorded a cumulative effect of initially applying the new guidance as an adjustment to the fiscal year 2019 opening balance of Retained earnings.

(2) As a result of adopting ASU No. 2016-02, “Leases (Topic 842),” on July 1, 2019, the Company recorded a cumulative effect of initially applying the new guidance as an adjustment to the fiscal year 2020 opening balance of Retained earnings. See Note 1 for more information.

The Company has two stock repurchase programs: an open-market purchase program with an authorized aggregate purchase amount of up to $2,000, which has no expiration date, and a program to offset the anticipated impact of dilution related to stock-based awards (the Evergreen Program), which has no authorization limit on the dollar amount and no expiration date.

Stock repurchases under the two stock repurchase programs were as follows for the periods indicated:



	Three Months Ended						Six Months Ended
	12/31/2019			12/31/2018			12/31/2019			12/31/2018
	Amount		Shares (in thousands)	Amount		Shares (in thousands)	Amount		Shares (in thousands)	Amount		Shares (in thousands)
Open-market purchase program	$	85	577	$	—	—	$	85	577	$	78	591
Evergreen Program	—		—	38		253	104		663	158		1,085
Total stock repurchases	$	85	577	$	38	253	$	189	1,240	$	236	1,676

Changes in Accumulated other comprehensive net (loss) income by component were as follows for the periods indicated:



	Three Months Ended December 31
	Foreign currency translation adjustments			Net unrealized gains (losses) on derivatives			Pension and postretirement benefit adjustments			Accumulated other comprehensive net (loss) income
Balance as of September 30, 2018	$	(386	)	$	(24	)	$	(137	)	$	(547	)
Other comprehensive income (loss) before reclassifications	(28		)	(9		)	—			(37		)
Amounts reclassified from Accumulated other comprehensive net (loss) income	—			5			1			6
Income tax benefit (expense)	(1		)	2			—			1
Net current period other comprehensive income (loss)	(29		)	(2		)	1			(30		)
Balance as of December 31, 2018	$	(415	)	$	(26	)	$	(136	)	$	(577	)

Balance as of September 30, 2019	$	(430	)	$	(21	)	$	(164	)	$	(615	)
Other comprehensive income (loss) before reclassifications	9			2			—			11
Amounts reclassified from Accumulated other comprehensive net (loss) income	—			2			1			3
Income tax benefit (expense), and other	—			—			—			—
Net current period other comprehensive income (loss)	9			4			1			14
Balance as of December 31, 2019	$	(421	)	$	(17	)	$	(163	)	$	(601	)

	Six Months Ended December 31
	Foreign currency translation adjustments			Net unrealized gains (losses) on derivatives			Pension and postretirement benefit adjustments			Accumulated other comprehensive net (loss) income
Balance as of June 30, 2018	$	(384	)	$	(25	)	$	(138	)	$	(547	)
Other comprehensive income (loss) before reclassifications	(30		)	(5		)	—			(35		)
Amounts reclassified from Accumulated other comprehensive net (loss) income	—			2			3			5
Income tax benefit (expense)	(1		)	2			(1		)	—
Net current period other comprehensive income (loss)	(31		)	(1		)	2			(30		)
Balance as of December 31, 2018	$	(415	)	$	(26	)	$	(136	)	$	(577	)

Balance as of June 30, 2019	$	(414	)	$	(23	)	$	(165	)	$	(602	)
Other comprehensive income (loss) before reclassifications	(6		)	3			—			(3		)
Amounts reclassified from Accumulated other comprehensive net (loss) income	—			4			3			7
Income tax benefit (expense), and other	(1		)	(1		)	(1		)	(3		)
Net current period other comprehensive income (loss)	(7		)	6			2			1
Balance as of December 31, 2019	$	(421	)	$	(17	)	$	(163	)	$	(601	)

Included in foreign currency translation adjustments are re-measurement losses on long-term intercompany loans where settlement is not planned or anticipated in the foreseeable future. For the three and six months ended December 31, 2019, Other comprehensive income (loss) on these loans totaled $0 and $(1), respectively. For the three and six months ended December 31, 2018, Other comprehensive income (loss) on these loans totaled $(2) and $(4), respectively. There were no amounts associated with these loans reclassified from Accumulated other comprehensive net (loss) income for the periods presented.

EMPLOYEE BENEFIT PLANS

6 Months Ended

Dec. 31, 2019

Defined Benefit Plan [Abstract]

EMPLOYEE BENEFIT PLANS

The following table summarizes the components of net periodic benefit cost for the Company’s retirement income plans:



	Three Months Ended						Six Months Ended
	12/31/2019			12/31/2018			12/31/2019			12/31/2018
Service cost	$	—		$	—		$	—		$	—
Interest cost	5			6			10			12
Expected return on plan assets⁽¹⁾	(5		)	(5		)	(9		)	(9		)
Amortization of unrecognized items	2			3			4			5
Total	$	2		$	4		$	5		$	8

(1) The weighted average long-term expected rate of return on plan assets used in computing the fiscal year 2020 net periodic benefit cost is 3.9%.

The net periodic benefit for the Company’s retirement health care plans was ($1) for both the three and six months ended December 31, 2019 and 2018.

During each of the three months ended December 31, 2019 and 2018, the Company made $2 in contributions to its domestic retirement income plans. During each of the six months ended December 31, 2019 and 2018, the Company made $4 in contributions to its domestic retirement income plans.

Net periodic benefit costs are reflected in Other (income) expense, net.

OTHER CONTINGENCIES AND GUARANTEES	6 Months Ended
OTHER CONTINGENCIES AND GUARANTEES	Dec. 31, 2019
OTHER CONTINGENCIES AND GUARANTEES [Abstract]
OTHER CONTINGENCIES AND GUARANTEES	OTHER CONTINGENCIES AND GUARANTEES Contingencies The Company is involved in certain environmental matters, including response actions at various locations. The Company had recorded liabilities totaling $27 as of December 31, 2019 and June 30, 2019, for its share of aggregate future remediation costs related to these matters. One matter, which accounted for $14 of the recorded liability as of December 31, 2019 and June 30, 2019, relates to environmental costs associated with one of the Company’s former operations at a site located in Alameda County, California. In November 2016, at the request of regulators and with the assistance of environmental consultants, the Company submitted a Feasibility Study that evaluated various options for managing the site and included estimates of the related costs. As a result, the Company recorded in Other (income) expense, net an undiscounted liability for costs estimated to be incurred over a 30-year period, based on the option recommended in the Feasibility Study. However, as a result of ongoing discussions with regulators, in June 2017, the Company increased its recorded liability to $14, which reflects anticipated costs to implement additional remediation measures at this site. While the Company believes its latest estimate is reasonable, regulators could require the Company to implement one of the other options evaluated in the Feasibility Study, with estimated undiscounted costs of up to $28 over an estimated 30-year period, or require the Company to take other actions and incur costs not included in the study. Another matter in Dickinson County, Michigan, at the site of one of the Company’s former operations for which the Company is jointly and severally liable, accounted for $11 of the recorded liability, as of December 31, 2019 and June 30, 2019. This amount reflects the Company’s agreement to be liable for 24.3% of the aggregate remediation and associated costs for this matter pursuant to a cost-sharing arrangement with a third party. With the assistance of environmental consultants, the Company maintains an undiscounted liability representing its current best estimate of its share of the capital expenditures, maintenance and other costs that may be incurred over an estimated 30-year remediation period. Although it is reasonably possible that the Company’s exposure may exceed the amount recorded for the Dickinson County matter, any amount of such additional exposures, or range of exposures, is not estimable at this time. The Company’s estimated losses related to these matters are sensitive to a variety of uncertain factors, including the efficacy of any remediation efforts, changes in any remediation requirements, and the future availability of alternative clean-up technologies. The Company is subject to various legal proceedings, claims and other loss contingencies, including, without limitation, loss contingencies relating to contractual arrangements, product liability, patents and trademarks, advertising, labor and employment, environmental, health and safety and other matters. With respect to these proceedings, claims and other loss contingencies, while considerable uncertainty exists, in the opinion of management at this time, the ultimate disposition of these matters, to the extent not previously provided for, will not have a material adverse effect, either individually or in the aggregate, on the Company’s condensed consolidated financial statements taken as a whole. Guarantees In conjunction with divestitures and other transactions, the Company may provide typical indemnifications (e.g., indemnifications for representations and warranties and retention of previously existing environmental, tax and employee liabilities) that have terms that vary in duration and in the potential amount of the total obligation and, in many circumstances, are not explicitly defined. The Company has not made, nor does it believe that it is probable that it will make, any material payments relating to its indemnifications, and believes that any reasonably possible payments would not have a material adverse effect, either individually or in the aggregate, on the Company’s condensed consolidated financial statements taken as a whole. The Company had not recorded any material liabilities on the aforementioned guarantees as of December 31, 2019 and June 30, 2019. As of December 31, 2019, the Company was party to a letter of credit of $10, related to one of its insurance carriers, of which $0 had been drawn upon.

SEGMENT RESULTS

6 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

SEGMENT RESULTS

The Company operates through strategic business units (SBUs) that are aggregated into four reportable segments based on the economics and nature of the products sold: Cleaning, Household, Lifestyle and International.

Certain non-allocated administrative costs, interest income, interest expense and various other non-operating income and expenses are reflected in Corporate. Corporate assets include cash and cash equivalents, prepaid expenses and other current assets, property and equipment, other investments and deferred taxes.

The tables below present reportable segment information and a reconciliation of the segment information to the Company’s consolidated Net sales and Earnings before income taxes, with amounts that are not allocated to the reportable segments reflected in Corporate.



	Net sales
	Three Months Ended						Six Months Ended
	12/31/2019			12/31/2018			12/31/2019			12/31/2018
Cleaning	$	501		$	500		$	1,063		$	1,071
Household	360			393			741			835
Lifestyle	347			335			669			644
International	241			245			482			486
Corporate	—			—			—			—
Total	$	1,449		$	1,473		$	2,955		$	3,036

	Earnings (losses) before income taxes
	Three Months Ended						Six Months Ended
	12/31/2019			12/31/2018			12/31/2019			12/31/2018
Cleaning	$	147		$	135		$	325		$	315
Household	37			46			62			105
Lifestyle	85			78			155			140
International	31			25			70			53
Corporate	(65		)	(60		)	(119		)	(121		)
Total	$	235		$	224		$	493		$	492

All intersegment sales are eliminated and are not included in the Company’s reportable segments’ net sales.

Net sales to the Company’s largest customer, Wal-Mart Stores, Inc. and its affiliates, as a percentage of consolidated net sales, were 25% and 26% for the three and six months ended December 31, 2019, respectively, and 24% and 25% for the three and six months ended December 31, 2018, respectively.

The following table provides Net sales as a percentage of the Company’s consolidated net sales for the Company’s SBUs and for the periods indicated:



	Net sales
	Three Months Ended				Six Months Ended
	12/31/2019		12/31/2018		12/31/2019		12/31/2018
Home care	20	%	19	%	21	%	20	%
Laundry	8	%	9	%	9	%	9	%
Professional products	6	%	6	%	6	%	6	%
Cleaning	34	%	34	%	36	%	35	%
Bags, wraps, and containers	13	%	13	%	12	%	14	%
Cat litter	8	%	8	%	8	%	7	%
Grilling	3	%	3	%	4	%	5	%
Digestive health	1	%	2	%	1	%	2	%
Household	25	%	26	%	25	%	28	%
Food products	10	%	10	%	9	%	9	%
Natural personal care	7	%	6	%	6	%	5	%
Water filtration	3	%	3	%	4	%	3	%
Dietary supplements	4	%	4	%	4	%	4	%
Lifestyle	24	%	23	%	23	%	21	%
International	17	%	17	%	16	%	16	%
Total	100	%	100	%	100	%	100	%

During the second quarter of fiscal year 2020, the Company’s Charcoal SBU within the Household reportable segment was renamed the Grilling SBU to reflect a broader strategic view of the category. There has been no change to the composition of the Grilling SBU or the Household reportable segment; therefore, no prior periods were restated.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Dec. 31, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The unaudited interim condensed consolidated financial statements for the three and six months ended December 31, 2019 and 2018, in the opinion of management, reflect all adjustments (consisting of normal recurring accruals) necessary for a fair presentation of the consolidated results of operations, financial position and cash flows of The Clorox Company and its subsidiaries (the Company) for the periods presented. However, the financial results for interim periods are not necessarily indicative of the results that may be expected for a full fiscal year or for any other future period. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States (U.S. GAAP) have been omitted or condensed pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (SEC). The information in this report should be read in conjunction with the Company’s Annual Report on Form 10-K filed with the SEC for the fiscal year ended June 30, 2019, which includes a complete set of footnote disclosures, including the Company’s significant accounting policies.
Leases	Leases Effective July 1, 2019, the Company adopted Accounting Standards Codification 842, Leases (ASC 842). Under this guidance, the Company determines whether an arrangement contains a lease at inception by determining if the contract conveys the right to control the use of identified property, plant or equipment for a period of time in exchange for consideration and other facts and circumstances. Right-of-use (ROU) assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets are calculated based on the lease liability adjusted for any lease payments paid to the lessor at or before the commencement date and initial direct costs incurred by the Company and excludes any lease incentives received from the lessor. Lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term. The lease term may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option as of the commencement date of the lease, and is reviewed in subsequent periods if a triggering event occurs. As the Company’s leases typically do not contain a readily determinable implicit rate, the Company determines the present value of the lease liability using its incremental borrowing rate at the lease commencement date based on the lease term and the currency of the lease on a collateralized basis. Variable lease payments are the portion of lease payments that are not fixed over the lease term. Variable lease payments are expensed as incurred, and include certain non-lease components, such as maintenance and other services provided by the lessor, and other charges included in the lease, as applicable. The Company elected to combine lease and non-lease components as a single lease component and to exclude short-term leases, defined as leases with initial terms of 12 months or less, from its condensed consolidated balance sheet.
Recently Issued Accounting Standards	Recently Issued Accounting Standards Recently Issued Accounting Standards Not Yet Adopted In December 2019, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes,” which simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740 and clarifies and amends existing guidance to improve consistent application. The standard will be effective for the Company beginning in the first quarter of fiscal year 2022, with early adoption permitted. The Company is currently evaluating the impact that the adoption of this guidance will have on its consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-04, “Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment,” which eliminates the requirement to calculate the implied fair value of goodwill to measure a goodwill impairment charge. The new guidance is effective for the Company beginning in the first quarter of fiscal year 2021, with early adoption permitted. The Company intends to adopt the standard no later than July 1, 2020. The impact of the new standard will be dependent on the specific facts and circumstances of future individual impairments, if any. Recently Adopted Accounting Standards In August 2017, the FASB issued ASU No. 2017-12, “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities,” which amends the hedge accounting recognition and presentation requirements to better align an entity’s risk management activities with its financial reporting. This standard also simplifies the application of hedge accounting in certain situations. The Company adopted this new guidance in the first quarter of fiscal year 2020 and the adoption did not have a material impact on the Company’s consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842),” which requires lessees to recognize a ROU asset and a lease liability for all leases with terms of more than 12 months. Recognition, measurement and presentation will depend on the classification of a lease as either a finance or an operating lease. ASU 2016-02 also requires expanded disclosures about leasing arrangements. In July 2018, the FASB issued ASU No. 2018-11, “Leases (Topic 842), Targeted Improvements,” which provides an optional transition method in applying the new lease standard. Topic 842 can be applied using either a modified retrospective approach at the beginning of the earliest period presented, or, as permitted by ASU 2018-11, at the beginning of the period in which it is adopted. The Company adopted the new standard in the first quarter of fiscal year 2020, on a modified retrospective basis using the optional transition method, and, accordingly, has not restated comparative periods; fiscal year 2019 balances and related disclosures supporting those comparative period balances continue to be presented under ASC 840, “Leases.” As allowed under the new standard, the Company elected to apply the package of practical expedients to not reassess prior conclusions related to contracts containing leases, lease classification and initial direct costs. Upon adoption, the Company recorded a cumulative effect adjustment to the opening balance of Retained earnings of $22 related primarily to the remaining deferred gain from the sale-leaseback of the Company’s general office building in Oakland, California. This new standard did not have a material impact on the Company’s condensed consolidated statement of earnings or the condensed consolidated statement of cash flows. Refer to Note 3 for more information.
Fair Value Measurement	Fair Value Measurements Financial assets and liabilities measured at fair value on a recurring basis in the condensed consolidated balance sheets are required to be classified and disclosed in one of the following three categories of the fair value hierarchy: Level 1: Quoted market prices in active markets for identical assets or liabilities. Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data. Level 3: Unobservable inputs reflecting the reporting entity’s own assumptions. As of December 31, 2019 and June 30, 2019, the Company’s financial assets and liabilities that were measured at fair value on a recurring basis included derivative financial instruments, which were classified as either Level 1 or Level 2, and trust assets to fund the Company’s nonqualified deferred compensation plans, which were classified as Level 1.
Segment Results	The Company operates through strategic business units (SBUs) that are aggregated into four reportable segments based on the economics and nature of the products sold: Cleaning, Household, Lifestyle and International. Certain non-allocated administrative costs, interest income, interest expense and various other non-operating income and expenses are reflected in Corporate. Corporate assets include cash and cash equivalents, prepaid expenses and other current assets, property and equipment, other investments and deferred taxes.

INVENTORIES, NET (Tables)

6 Months Ended

Dec. 31, 2019

Inventory Disclosure [Abstract]

Schedule of Inventories, Net

Inventories, net, consisted of the following as of:



	12/31/2019			6/30/2019
Finished goods	$	415		$	411
Raw materials and packaging	127			125
Work in process	7			6
LIFO allowances	(35		)	(30		)
Total	$	514		$	512

LEASES AND OTHER COMMITMENTS (Tables)

6 Months Ended

Dec. 31, 2019

Leases [Abstract]

Supplemental Balance Sheet Information Schedule

Supplemental balance sheet information related to the Company’s leases was as follows:



	Balance sheet classification	12/31/2019
Operating leases
Right-of-use assets	Operating lease right-of-use assets	$	303
Current lease liabilities	Current operating lease liabilities	61
Non-current lease liabilities	Long-term operating lease liabilities	282
Total operating lease liabilities		$	343

Finance leases
Right-of-use assets	Other assets	$	14
Current lease liabilities	Accounts payable and accrued liabilities	2
Non-current lease liabilities	Other liabilities	12
Total finance lease liabilities		$	14

Lease Cost Components, Supplemental Cash Flow Information and Non-Cash Activity, Weighted-Average Remaining Lease Term and Discount Rate For Company's Leases Schedules

Supplemental cash flow information and non-cash activity related to the Company’s leases were as follows:



	Six Months Ended
	12/31/2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases, net	$	29
Operating cash flows from finance leases	—
Financing cash flows from finance leases	1
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	16
Finance leases	7

Weighted-average remaining lease term and discount rate for the Company’s leases were as follows:



	12/31/2019
Weighted-average remaining lease term:
Operating leases	8 years
Finance leases	8 years
Weighted-average discount rate:
Operating leases	2.6	%
Finance leases	3.3	%

Components of lease cost were as follows:



	Three Months Ended		Six Months Ended
	12/31/2019		12/31/2019
Operating lease cost	$	19	37
Finance lease cost:
Amortization of right-of-use assets	1		2
Interest on lease liabilities	—		—
Total finance lease cost	$	1	2
Variable lease cost	$	10	20
Short term lease cost	1		1

Maturities of Operating Lease Liabilities by Fiscal Year Schedule

Maturities of lease liabilities by fiscal year for the Company’s leases as of December 31, 2019 were as follows:



Year	Operating leases			Finance leases
2020	$	22		$	1
2021	67			2
2022	52			2
2023	45			2
2024	40			2
Thereafter	156			7
Total lease payments	$	382		$	16
Less: Imputed interest	(39		)	(2		)
Total lease liabilities	$	343		$	14

Maturities of Finance Lease Liabilities by Fiscal Year Schedule

Maturities of lease liabilities by fiscal year for the Company’s leases as of December 31, 2019 were as follows:



Year	Operating leases			Finance leases
2020	$	22		$	1
2021	67			2
2022	52			2
2023	45			2
2024	40			2
Thereafter	156			7
Total lease payments	$	382		$	16
Less: Imputed interest	(39		)	(2		)
Total lease liabilities	$	343		$	14

Future Minimum Annual Operating Lease Payments Required before Adoption of ASC 842 Schedule

The future minimum annual lease payments required under the Company’s existing non-cancelable operating and capital lease agreements as of June 30, 2019 prior to the adoption of ASC 842 were as follows:



Year	Operating leases		Capital leases
2020	$	71	$	2
2021	65		2
2022	50		1
2023	42		1
2024	37		1
Thereafter	124		2
Total lease payments	$	389	$	9

Future Minimum Annual Capital Lease Payments Required before Adoption of ASC 842 Schedule

The future minimum annual lease payments required under the Company’s existing non-cancelable operating and capital lease agreements as of June 30, 2019 prior to the adoption of ASC 842 were as follows:



Year	Operating leases		Capital leases
2020	$	71	$	2
2021	65		2
2022	50		1
2023	42		1
2024	37		1
Thereafter	124		2
Total lease payments	$	389	$	9

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Dec. 31, 2019

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS [Abstract]

Effects of Derivative Instruments Designated as Hedging Instruments on OCI

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



	Gains (losses) recognized in Other comprehensive income
	Three Months Ended						Six Months Ended
	12/31/2019			12/31/2018			12/31/2019		12/31/2018
Commodity purchase derivative contracts	$	3		$	(10	)	$	3	$	(6	)
Foreign exchange derivative contracts	(1		)	1			—		1
Interest rate derivative contracts	—			—			—		—
Total	$	2		$	(9	)	$	3	$	(5	)

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						Six Months Ended
		12/31/2019			12/31/2018			12/31/2019			12/31/2018
Commodity purchase derivative contracts	Cost of products sold	$	(1	)	$	(4	)	$	(1	)	$	—
Foreign exchange derivative contracts	Cost of products sold	—			—			—			1
Interest rate derivative contracts	Interest expense	(1		)	(1		)	(3		)	(3		)
Total		$	(2	)	$	(5	)	$	(4	)	$	(2	)

Schedule of Assets and Liabilities for Fair Value Disclosure

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



			12/31/2019				6/30/2019
	Balance sheet classification	Fair value hierarchy level	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Assets
Commodity purchase futures contracts	Prepaid expenses and other current assets	1	$	2	$	2	$	—	$	—
			$	2	$	2	$	—	$	—
Liabilities
Commodity purchase futures contracts	Accounts payable and accrued liabilities	1	$	—	$	—	$	1	$	1
Commodity purchase swaps contracts	Accounts payable and accrued liabilities	2	1		1		1		1
			$	1	$	1	$	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:



			12/31/2019				6/30/2019
	Balance sheet classification	Fair value hierarchy level	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Assets
Investments, including money market funds	Cash and cash equivalents ^(a)	1	$	49	$	49	$	26	$	26
Time deposits	Cash and cash equivalents ^(a)	2	9		9		7		7
Trust assets for nonqualified deferred compensation plans	Other assets	1	106		106		96		96
			$	164	$	164	$	129	$	129
Liabilities
Notes and loans payable	Notes and loans payable ^(b)	2	$	507	$	507	$	396	$	396
Current maturities of long-term debt and Long-term debt	Current maturities of long- term debt and Long-term debt ^(c)	2	2,288		2,425		2,287		2,402
			$	2,795	$	2,932	$	2,683	$	2,798

____________________


(a)	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.


(b)	Notes and loans payable is composed of U.S. commercial paper and/or other similar short-term debt issued by non-U.S. subsidiaries, all of which are recorded at cost, which approximates fair value.

(c)

Current maturities of long-term debt and Long-term debt are recorded at cost. The fair value of Long-term debt, including current maturities, was determined using secondary market prices quoted by corporate bond dealers, and is classified as Level 2.

NET EARNINGS PER SHARE (EPS) (Tables)

6 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Schedule of Weighted Average Number of Shares Outstanding and Antidilutive Shares

The following is the reconciliation of the weighted average number of shares outstanding (in thousands) used to calculate basic net EPS to those used to calculate diluted net EPS:



	Three Months Ended		Six Months Ended
	12/31/2019	12/31/2018	12/31/2019	12/31/2018
Basic	125,440	128,068	125,632	127,955
Dilutive effect of stock options and other	1,439	2,026	1,566	2,152
Diluted	126,879	130,094	127,198	130,107

Antidilutive stock options and other	1,792	1	1,035	831

COMPREHENSIVE INCOME (Tables)

6 Months Ended

Dec. 31, 2019

Stockholders' Equity Note [Abstract]

Schedule of Comprehensive Income

The following table provides a summary of Comprehensive income for the periods indicated:



	Three Months Ended					Six Months Ended
	12/31/2019		12/31/2018			12/31/2019			12/31/2018
Net earnings	$	185	$	182		$	388		$	392
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	9		(29		)	(7		)	(31		)
Net unrealized gains (losses) on derivatives	4		(2		)	6			(1		)
Pension and postretirement benefit adjustments	1		1			2			2
Total other comprehensive income (loss), net of tax	14		(30		)	1			(30		)
Comprehensive income	$	199	$	152		$	389		$	362

STOCKHOLDERS' EQUITY (Tables)

6 Months Ended

Dec. 31, 2019

Equity [Abstract]

Schedule of Stockholders Equity

Changes in the components of Stockholders’ equity were as follows for the periods indicated:



	Three Months Ended December 31
	Common Stock			Additional Paid-in Capital			Retained Earnings			Treasury Stock					Accumulated Other Comprehensive Net (Loss) Income			Total Stockholders’ Equity
	Amount		Shares (in thousands)	Additional Paid-in Capital			Retained Earnings			Amount			Shares (in thousands)		Accumulated Other Comprehensive Net (Loss) Income			Total Stockholders’ Equity
Balance as of September 30, 2018	$	159	158,741	$	984		$	2,883		$	(2,802	)	(31,136	)	$	(547	)	$	677
Net earnings							182											182
Other comprehensive income (loss)															(30		)	(30		)
Dividends ($0.96 per share declared)							(123		)									(123		)
Stock-based compensation				10														10
Other employee stock plan activities				20			(2		)	46			738					64
Treasury stock purchased										(38		)	(253	)				(38		)
Balance as of December 31, 2018	$	159	158,741	$	1,014		$	2,940		$	(2,794	)	(30,651	)	$	(577	)	$	742

Balance as of September 30, 2019	$	159	158,741	$	1,043		$	3,241		$	(3,278	)	(33,246	)	$	(615	)	$	550
Net earnings							185											185
Other comprehensive income (loss)															14			14
Dividends ($1.06 per share declared)							(133		)									(133		)
Stock-based compensation				13														13
Other employee stock plan activities				6			(1		)	6			106					11
Treasury stock purchased										(85		)	(577	)				(85		)
Balance as of December 31, 2019	$	159	158,741	$	1,062		$	3,292		$	(3,357	)	(33,717	)	$	(601	)	$	555

	Six Months Ended December 31
	Common Stock			Additional Paid-in Capital			Retained Earnings			Treasury Stock					Accumulated Other Comprehensive Net (Loss) Income			Total Stockholders’ Equity
	Amount		Shares (in thousands)	Additional Paid-in Capital			Retained Earnings			Amount			Shares (in thousands)		Accumulated Other Comprehensive Net (Loss) Income			Total Stockholders’ Equity
Balance as of June 30, 2018	$	159	158,741	$	975		$	2,797		$	(2,658	)	(30,759	)	$	(547	)	$	726
Cumulative effect of accounting changes, net of tax ⁽¹⁾							(3		)									(3		)
Net earnings							392											392
Other comprehensive income (loss)															(30		)	(30		)
Dividends ($1.92 per share declared)							(246		)									(246		)
Stock-based compensation				18														18
Other employee stock plan activities				21			—			100			1,784					121
Treasury stock purchased										(236		)	(1,676	)				(236		)
Balance as of December 31, 2018	$	159	158,741	$	1,014		$	2,940		$	(2,794	)	(30,651	)	$	(577	)	$	742

Balance as of June 30, 2019	$	159	158,741	$	1,046		$	3,150		$	(3,194	)	(33,055	)	$	(602	)	$	559
Cumulative effect of accounting changes, net of tax ⁽²⁾							22											22
Net earnings							388											388
Other comprehensive income (loss)															1			1
Dividends ($2.12 per share declared)							(267		)									(267		)
Stock-based compensation				19														19
Other employee stock plan activities				(3		)	(1		)	26			578					22
Treasury stock purchased										(189		)	(1,240	)				(189		)
Balance as of December 31, 2019	$	159	158,741	$	1,062		$	3,292		$	(3,357	)	(33,717	)	$	(601	)	$	555

(1) As a result of adopting ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606),” on July 1, 2018, the Company recorded a cumulative effect of initially applying the new guidance as an adjustment to the fiscal year 2019 opening balance of Retained earnings.

(2) As a result of adopting ASU No. 2016-02, “Leases (Topic 842),” on July 1, 2019, the Company recorded a cumulative effect of initially applying the new guidance as an adjustment to the fiscal year 2020 opening balance of Retained earnings. See Note 1 for more information.

Schedule of Share Repurchases Under Authorized Programs

Stock repurchases under the two stock repurchase programs were as follows for the periods indicated:



	Three Months Ended						Six Months Ended
	12/31/2019			12/31/2018			12/31/2019			12/31/2018
	Amount		Shares (in thousands)	Amount		Shares (in thousands)	Amount		Shares (in thousands)	Amount		Shares (in thousands)
Open-market purchase program	$	85	577	$	—	—	$	85	577	$	78	591
Evergreen Program	—		—	38		253	104		663	158		1,085
Total stock repurchases	$	85	577	$	38	253	$	189	1,240	$	236	1,676

Schedule of Changes in Accumulated Other Comprehensive Net (Losses) Income

Changes in Accumulated other comprehensive net (loss) income by component were as follows for the periods indicated:



	Three Months Ended December 31
	Foreign currency translation adjustments			Net unrealized gains (losses) on derivatives			Pension and postretirement benefit adjustments			Accumulated other comprehensive net (loss) income
Balance as of September 30, 2018	$	(386	)	$	(24	)	$	(137	)	$	(547	)
Other comprehensive income (loss) before reclassifications	(28		)	(9		)	—			(37		)
Amounts reclassified from Accumulated other comprehensive net (loss) income	—			5			1			6
Income tax benefit (expense)	(1		)	2			—			1
Net current period other comprehensive income (loss)	(29		)	(2		)	1			(30		)
Balance as of December 31, 2018	$	(415	)	$	(26	)	$	(136	)	$	(577	)

Balance as of September 30, 2019	$	(430	)	$	(21	)	$	(164	)	$	(615	)
Other comprehensive income (loss) before reclassifications	9			2			—			11
Amounts reclassified from Accumulated other comprehensive net (loss) income	—			2			1			3
Income tax benefit (expense), and other	—			—			—			—
Net current period other comprehensive income (loss)	9			4			1			14
Balance as of December 31, 2019	$	(421	)	$	(17	)	$	(163	)	$	(601	)

	Six Months Ended December 31
	Foreign currency translation adjustments			Net unrealized gains (losses) on derivatives			Pension and postretirement benefit adjustments			Accumulated other comprehensive net (loss) income
Balance as of June 30, 2018	$	(384	)	$	(25	)	$	(138	)	$	(547	)
Other comprehensive income (loss) before reclassifications	(30		)	(5		)	—			(35		)
Amounts reclassified from Accumulated other comprehensive net (loss) income	—			2			3			5
Income tax benefit (expense)	(1		)	2			(1		)	—
Net current period other comprehensive income (loss)	(31		)	(1		)	2			(30		)
Balance as of December 31, 2018	$	(415	)	$	(26	)	$	(136	)	$	(577	)

Balance as of June 30, 2019	$	(414	)	$	(23	)	$	(165	)	$	(602	)
Other comprehensive income (loss) before reclassifications	(6		)	3			—			(3		)
Amounts reclassified from Accumulated other comprehensive net (loss) income	—			4			3			7
Income tax benefit (expense), and other	(1		)	(1		)	(1		)	(3		)
Net current period other comprehensive income (loss)	(7		)	6			2			1
Balance as of December 31, 2019	$	(421	)	$	(17	)	$	(163	)	$	(601	)

EMPLOYEE BENEFIT PLANS (Tables)

6 Months Ended

Dec. 31, 2019

Defined Benefit Plan [Abstract]

Schedule of Components of Net Periodic Benefit Cost

The following table summarizes the components of net periodic benefit cost for the Company’s retirement income plans:



	Three Months Ended						Six Months Ended
	12/31/2019			12/31/2018			12/31/2019			12/31/2018
Service cost	$	—		$	—		$	—		$	—
Interest cost	5			6			10			12
Expected return on plan assets⁽¹⁾	(5		)	(5		)	(9		)	(9		)
Amortization of unrecognized items	2			3			4			5
Total	$	2		$	4		$	5		$	8

(1) The weighted average long-term expected rate of return on plan assets used in computing the fiscal year 2020 net periodic benefit cost is 3.9%.

SEGMENT RESULTS (Tables)

6 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Selected Financial Information Relating to the Company's Segments

The following table provides Net sales as a percentage of the Company’s consolidated net sales for the Company’s SBUs and for the periods indicated:



	Net sales
	Three Months Ended				Six Months Ended
	12/31/2019		12/31/2018		12/31/2019		12/31/2018
Home care	20	%	19	%	21	%	20	%
Laundry	8	%	9	%	9	%	9	%
Professional products	6	%	6	%	6	%	6	%
Cleaning	34	%	34	%	36	%	35	%
Bags, wraps, and containers	13	%	13	%	12	%	14	%
Cat litter	8	%	8	%	8	%	7	%
Grilling	3	%	3	%	4	%	5	%
Digestive health	1	%	2	%	1	%	2	%
Household	25	%	26	%	25	%	28	%
Food products	10	%	10	%	9	%	9	%
Natural personal care	7	%	6	%	6	%	5	%
Water filtration	3	%	3	%	4	%	3	%
Dietary supplements	4	%	4	%	4	%	4	%
Lifestyle	24	%	23	%	23	%	21	%
International	17	%	17	%	16	%	16	%
Total	100	%	100	%	100	%	100	%

The tables below present reportable segment information and a reconciliation of the segment information to the Company’s consolidated Net sales and Earnings before income taxes, with amounts that are not allocated to the reportable segments reflected in Corporate.



	Net sales
	Three Months Ended						Six Months Ended
	12/31/2019			12/31/2018			12/31/2019			12/31/2018
Cleaning	$	501		$	500		$	1,063		$	1,071
Household	360			393			741			835
Lifestyle	347			335			669			644
International	241			245			482			486
Corporate	—			—			—			—
Total	$	1,449		$	1,473		$	2,955		$	3,036

	Earnings (losses) before income taxes
	Three Months Ended						Six Months Ended
	12/31/2019			12/31/2018			12/31/2019			12/31/2018
Cleaning	$	147		$	135		$	325		$	315
Household	37			46			62			105
Lifestyle	85			78			155			140
International	31			25			70			53
Corporate	(65		)	(60		)	(119		)	(121		)
Total	$	235		$	224		$	493		$	492

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) - USD ($) $ in Millions	Jul. 01, 2019	Jul. 01, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of accounting changes	$ 22	$ (3)
Accounting Standards Update 2016-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of accounting changes	$ 22

INVENTORIES, NET (Details) - USD ($) $ in Millions	Dec. 31, 2019	Jun. 30, 2019
Inventory Disclosure [Abstract]
Finished goods	$ 415	$ 411
Raw materials and packaging	127	125
Work in process	7	6
LIFO allowances	(35)	(30)
Total	$ 514	$ 512

LEASES AND OTHER COMMITMENTS (Narrative) (Details)	3 Months Ended
LEASES AND OTHER COMMITMENTS (Narrative) (Details)	Sep. 30, 2019
Leases [Abstract]
Remaining lease terms	11 years

LEASES AND OTHER COMMITMENTS (Supplemental Balance Sheet Information Schedule) (Details) $ in Millions	Dec. 31, 2019 USD ($)
Operating leases
Operating lease - right-of-use assets	$ 303
Operating lease - current lease liabilities	61
Operating lease - non-current lease liabilities	282
Total operating lease liabilities	343
Finance leases
Finance lease - right-of-use assets	14
Finance lease - current lease liabilities	2
Finance lease - non-current lease liabilities	12
Total finance lease liabilities	$ 14

LEASES AND OTHER COMMITMENTS (Components of Lease Cost Schedule) (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Dec. 31, 2019	Dec. 31, 2019
Leases [Abstract]
Operating lease cost	$ 19	$ 37
Finance lease cost:
Amortization of right-of-use assets	1	2
Interest on lease liabilities	0	0
Total finance lease cost	1	2
Variable lease cost	10	20
Short term lease cost	$ 1	$ 1

LEASES AND OTHER COMMITMENTS (Supplemental Cash Flow Information and Non-Cash Activity Schedule) (Details) $ in Millions	6 Months Ended
	Dec. 31, 2019 USD ($)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases, net	$ 29
Operating cash flows from finance leases	0
Financing cash flows from finance leases	1
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	16
Finance leases	$ 7

LEASES AND OTHER COMMITMENTS (Weighted-Average Remaining Lease Term and Discount Rate Schedule) (Details)	Dec. 31, 2019
Weighted-average remaining lease term:
Operating leases	8 years
Finance leases	8 years
Weighted-average discount rate:
Operating leases	2.60%
Finance leases	3.30%

LEASES AND OTHER COMMITMENTS (Maturities of Lease Liabilities by Fiscal Year Schedule) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Jun. 30, 2019
Operating Leases, After Adoption of 842
2020	$ 22
2021	67
2022	52
2023	45
2024	40
Thereafter	156
Total lease payments	382	$ 389
Less: Imputed interest	(39)
Total lease liabilities	343
Finance Leases, After Adoption of 842
2020	1
2021	2
2022	2
2023	2
2024	2
Thereafter	7
Total lease payments	16
Less: Imputed interest	(2)
Total lease liabilities	$ 14

LEASES AND OTHER COMMITMENTS (Future Minimum Annual Operating and Capital Lease Payments Required before Adoption of ASC 842 Schedule) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Jun. 30, 2019
Operating Leases, Before Adoption of 842
2020		$ 71
2021		65
2022		50
2023		42
2024		37
Thereafter		124
Total lease payments	$ 382	389
Capital Leases, Before Adoption of 842
2020		2
2021		2
2022		1
2023		1
2024		1
Thereafter		2
Total lease payments		$ 9

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Narrative) (Details) $ in Millions	6 Months Ended
	Dec. 31, 2019 USD ($) instrument	Jun. 30, 2019 USD ($) instrument
Derivative [Line Items]
Maximum duration, foreign exchange contracts	2 years
Maximum duration, interest rate contracts	12 months
Number of interest rate derivatives held \| instrument	0	0
Estimated amount of the existing net gain (loss) to be reclassified into earnings in the next 12 months	$ (4)
Derivative instruments subject to contractually defined counterparty liability position limits	$ 0	$ 1
Total Commodity Purchase Derivative Contracts [Member]
Derivative [Line Items]
Maximum duration, commodity contracts	2 years
Notional amounts	$ 24	24
Jet Fuel Swaps [Member]
Derivative [Line Items]
Notional amounts	11	11
Soybean Oil Futures [Member]
Derivative [Line Items]
Notional amounts	13	13
Soybean Oil Futures [Member] \| Commodity Contract [Member]
Derivative [Line Items]
Cash margin balances amount	1	1
Purchases of Inventory [Member] \| Foreign Exchange Contract [Member]
Derivative [Line Items]
Notional amounts	$ 49	$ 61

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Schedule of the Effects of Derivative Instruments Designated as Hedging Instruments) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in Other comprehensive income	$ 2		$ 3
Gains (losses) recognized in Other comprehensive income		$ (9)		$ (5)
Gains (losses) reclassified from Accumulated other comprehensive net (loss) income and recognized in Net earnings	(2)		(4)
Gains (losses) reclassified from Accumulated other comprehensive net (loss) income and recognized in Net earnings		(5)		(2)
Commodity Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in Other comprehensive income	3		3
Gains (losses) recognized in Other comprehensive income		(10)		(6)
Foreign Exchange Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in Other comprehensive income	(1)		0
Gains (losses) recognized in Other comprehensive income		1		1
Interest Rate Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in Other comprehensive income	0		0
Gains (losses) recognized in Other comprehensive income		0		0
Cost of Sales [Member] \| Commodity Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) reclassified from Accumulated other comprehensive net (loss) income and recognized in Net earnings	(1)		(1)
Gains (losses) reclassified from Accumulated other comprehensive net (loss) income and recognized in Net earnings		(4)		0
Cost of Sales [Member] \| Foreign Exchange Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) reclassified from Accumulated other comprehensive net (loss) income and recognized in Net earnings	0		0
Gains (losses) reclassified from Accumulated other comprehensive net (loss) income and recognized in Net earnings		0		1
Interest Expense [Member] \| Interest Rate Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) reclassified from Accumulated other comprehensive net (loss) income and recognized in Net earnings	$ (1)		$ (3)
Gains (losses) reclassified from Accumulated other comprehensive net (loss) income and recognized in Net earnings		$ (1)		$ (3)

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Schedule of Assets and Liabilities for Fair Value Disclosure) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Jun. 30, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 168	$ 111
Total assets	5,459	5,116
Notes and loans payable	507	396
Total liabilities	4,904	4,557
Reported Value Measurement [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	2	0
Derivative liabilities	1	2
Total assets	164	129
Total liabilities	2,795	2,683
Estimate of Fair Value Measurement [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	2	0
Derivative liabilities	1	2
Total other assets in the fair value hierarchy	164	129
Total other liabilities in the fair value hierarchy	2,932	2,798
Prepaid Expenses and Other Current Assets [Member] \| Fair Value, Inputs, Level 1 [Member] \| Reported Value Measurement [Member] \| Commodity Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	2	0
Prepaid Expenses and Other Current Assets [Member] \| Fair Value, Inputs, Level 1 [Member] \| Estimate of Fair Value Measurement [Member] \| Commodity Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	2	0
Accounts Payable and Accrued Liabilities [Member] \| Fair Value, Inputs, Level 1 [Member] \| Reported Value Measurement [Member] \| Commodity Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	0	1
Accounts Payable and Accrued Liabilities [Member] \| Fair Value, Inputs, Level 1 [Member] \| Estimate of Fair Value Measurement [Member] \| Commodity Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	0	1
Accounts Payable and Accrued Liabilities [Member] \| Fair Value, Inputs, Level 2 [Member] \| Reported Value Measurement [Member] \| Commodity Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	1	1
Accounts Payable and Accrued Liabilities [Member] \| Fair Value, Inputs, Level 2 [Member] \| Estimate of Fair Value Measurement [Member] \| Commodity Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	1	1
Cash and Cash Equivalents [Member] \| Fair Value, Inputs, Level 1 [Member] \| Reported Value Measurement [Member] \| Investments, including money market funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	49	26
Cash and Cash Equivalents [Member] \| Fair Value, Inputs, Level 1 [Member] \| Estimate of Fair Value Measurement [Member] \| Investments, including money market funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	49	26
Cash and Cash Equivalents [Member] \| Fair Value, Inputs, Level 2 [Member] \| Reported Value Measurement [Member] \| Time deposits [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	9	7
Cash and Cash Equivalents [Member] \| Fair Value, Inputs, Level 2 [Member] \| Estimate of Fair Value Measurement [Member] \| Time deposits [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	9	7
Notes and Loans Payable [Member] \| Fair Value, Inputs, Level 2 [Member] \| Reported Value Measurement [Member] \| Notes and loans payable [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes and loans payable	507	396
Notes and Loans Payable [Member] \| Fair Value, Inputs, Level 2 [Member] \| Estimate of Fair Value Measurement [Member] \| Notes and loans payable [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes and loans payable	507	396
Current maturities of long-term debt and Long-term debt [Member] \| Fair Value, Inputs, Level 2 [Member] \| Reported Value Measurement [Member] \| Long-term Debt [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current maturities of long-term debt and Long-term debt	2,288	2,287
Current maturities of long-term debt and Long-term debt [Member] \| Fair Value, Inputs, Level 2 [Member] \| Estimate of Fair Value Measurement [Member] \| Long-term Debt [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current maturities of long-term debt and Long-term debt	2,425	2,402
Trust Assets for nonqualified deferred compensation plans [Member] \| Other Assets [Member] \| Fair Value, Inputs, Level 1 [Member] \| Reported Value Measurement [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trust assets for nonqualified deferred compensation plans	106	96
Trust Assets for nonqualified deferred compensation plans [Member] \| Other Assets [Member] \| Fair Value, Inputs, Level 1 [Member] \| Estimate of Fair Value Measurement [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trust assets for nonqualified deferred compensation plans	$ 106	$ 96

DEBT (Details) - Revolving Credit Facility [Member] - Line of Credit [Member] - USD ($)	Dec. 31, 2019	Nov. 15, 2019	Jun. 30, 2019	Feb. 08, 2017
Revolving Credit Agreement, Matures November 2024 [Member]
Line of Credit Facility [Line Items]
Line of credit facility, borrowing capacity		$ 1,200,000,000
Termination fees/penalties		$ 0
Line of credit facility, amount outstanding	$ 0
Revolving Credit Agreement, Matures February 2022 [Member]
Line of Credit Facility [Line Items]
Line of credit facility, borrowing capacity				$ 1,100,000,000
Line of credit facility, amount outstanding			$ 0

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

INCOME TAXES (Narrative) (Details)	3 Months Ended		6 Months Ended
INCOME TAXES (Narrative) (Details)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Effective tax rate on earnings from continuing operations	21.00%	18.80%	21.30%	20.20%

NET EARNINGS PER SHARE (EPS) (Schedule of Weighted Average Number of Shares) (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share [Abstract]
Basic (in shares)	125,440	128,068	125,632	127,955
Dilutive effect of stock options and other (in shares)	1,439	2,026	1,566	2,152
Diluted (in shares)	126,879	130,094	127,198	130,107
Antidilutive stock options and other (in shares)	1,792	1	1,035	831

COMPREHENSIVE INCOME (Schedule of Comprehensive Income) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Stockholders' Equity Note [Abstract]
Net earnings	$ 185	$ 182	$ 388	$ 392
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	9	(29)	(7)	(31)
Net unrealized gains (losses) on derivatives	4		6
Net unrealized gains (losses) on derivatives		(2)		(1)
Pension and postretirement benefit adjustments	1	1	2	2
Total other comprehensive income (loss), net of tax	14	(30)	1	(30)
Comprehensive income	$ 199	$ 152	$ 389	$ 362

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

STOCKHOLDERS' EQUITY (Schedule of Equity) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Jul. 01, 2019	Jul. 01, 2018
Class of Stock [Line Items]
Dividends declared per share (in dollars per share)	$ 1.06	$ 0.96	$ 2.12	$ 1.92
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning	$ 550	$ 677	$ 559	$ 726
Cumulative effect of accounting changes, net of tax					$ 22	$ (3)
Net earnings	185	182	388	392
Other comprehensive income (loss)	14	(30)	1	(30)
Dividends	(133)	(123)	(267)	(246)
Stock-based compensation	13	10	19	18
Other employee stock plan activities	11	64	22	121
Treasury stock purchased	$ (85)	$ (38)	$ (189)	$ (236)
Treasury stock purchased (in shares)	(577)	(253)	(1,240)	(1,676)
Balance, ending	$ 555	$ 742	$ 555	$ 742
Common Stock [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning	$ 159	$ 159	$ 159	$ 159
Balance, beginning (in shares)	158,741	158,741	158,741	158,741
Balance, ending	$ 159	$ 159	$ 159	$ 159
Balance, ending (in shares)	158,741	158,741	158,741	158,741
Additional Paid-in Capital [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning	$ 1,043	$ 984	$ 1,046	$ 975
Stock-based compensation	13	10	19	18
Other employee stock plan activities	6	20	(3)	21
Balance, ending	1,062	1,014	1,062	1,014
Retained Earnings [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning	3,241	2,883	3,150	2,797
Cumulative effect of accounting changes, net of tax					$ 22	$ (3)
Net earnings	185	182	388	392
Dividends	(133)	(123)	(267)	(246)
Other employee stock plan activities	(1)	(2)	(1)
Balance, ending	3,292	2,940	3,292	2,940
Treasury Stock [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning	$ (3,278)	$ (2,802)	$ (3,194)	$ (2,658)
Balance, beginning (in shares)	33,246	31,136	33,055	30,759
Other employee stock plan activities	$ 6	$ 46	$ 26	$ 100
Other employee stock plan activities (in shares)	106	738	578	1,784
Treasury stock purchased	$ (85)	$ (38)	$ (189)	$ (236)
Treasury stock purchased (in shares)	(577)	(253)	(1,240)	(1,676)
Balance, ending	$ (3,357)	$ (2,794)	$ (3,357)	$ (2,794)
Balance, ending (in shares)	33,717	30,651	33,717	30,651
Accumulated other comprehensive net (loss) income [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning	$ (615)	$ (547)	$ (602)	$ (547)
Other comprehensive income (loss)	14	(30)	1	(30)
Balance, ending	$ (601)	$ (577)	$ (601)	$ (577)

STOCKHOLDERS' EQUITY (Narrative) (Details)	3 Months Ended		6 Months Ended
STOCKHOLDERS' EQUITY (Narrative) (Details)	Dec. 31, 2019 USD ($) repurchase_program	Dec. 31, 2018 USD ($) repurchase_program	Dec. 31, 2019 USD ($) repurchase_program	Dec. 31, 2018 USD ($) repurchase_program
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of repurchase programs \| repurchase_program	2	2	2	2
Long-Term Inter-Company Loans [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Re-measurement gains (losses) on long-term intercompany loans	$ 0	$ (2,000,000)	$ (1,000,000)	$ (4,000,000)
Amounts reclassified from Accumulated other comprehensive net (loss) income	0	$ 0	0	$ 0
$2 Billion Open-Market Purchase Program [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock repurchase program, authorized amount	2,000,000,000		2,000,000,000
Evergreen Program [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Authorization limit	$ 0		$ 0

STOCKHOLDERS' EQUITY (Share Repurchase Programs) (Details) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Share Repurchase Programs [Line Items]
Value of shares repurchased	$ 85	$ 38	$ 189	$ 236
Shares repurchased (in shares)	577	253	1,240	1,676
$2 Billion Open-Market Purchase Program [Member]
Share Repurchase Programs [Line Items]
Value of shares repurchased	$ 85	$ 0	$ 85	$ 78
Shares repurchased (in shares)	577	0	577	591
Evergreen Program [Member]
Share Repurchase Programs [Line Items]
Value of shares repurchased	$ 0	$ 38	$ 104	$ 158
Shares repurchased (in shares)	0	253	663	1,085

STOCKHOLDERS' EQUITY (Schedule of Changes in Accumulated Other Comprehensive Net (Losses) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning	$ 550	$ 677	$ 559	$ 726
Balance, ending	555	742	555	742
Foreign currency translation adjustments [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning	(430)	(386)	(414)	(384)
Other comprehensive income (loss) before reclassifications	9	(28)	(6)	(30)
Amounts reclassified from Accumulated other comprehensive net (loss) income	0	0	0	0
Income tax benefit (expense)	0	(1)	(1)	(1)
Net current period other comprehensive income (loss)	9	(29)	(7)	(31)
Balance, ending	(421)	(415)	(421)	(415)
Net unrealized gains (losses) on derivatives [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning		(24)		(25)
Other comprehensive income (loss) before reclassifications		(9)		(5)
Amounts reclassified from Accumulated other comprehensive net (loss) income		5		2
Income tax benefit (expense)		2		2
Net current period other comprehensive income (loss)		(2)		(1)
Balance, ending		(26)		(26)
Net unrealized gains (losses) on derivatives [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning	(21)		(23)
Other comprehensive income (loss) before reclassifications	2		3
Amounts reclassified from Accumulated other comprehensive net (loss) income	2		4
Income tax benefit (expense)	0		(1)
Net current period other comprehensive income (loss)	4		6
Balance, ending	(17)		(17)
Pension and postretirement benefit adjustments [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning	(164)	(137)	(165)	(138)
Other comprehensive income (loss) before reclassifications	0	0	0	0
Amounts reclassified from Accumulated other comprehensive net (loss) income	1	1	3	3
Income tax benefit (expense)	0	0	(1)	(1)
Net current period other comprehensive income (loss)	1	1	2	2
Balance, ending	(163)	(136)	(163)	(136)
Accumulated other comprehensive net (loss) income [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning	(615)	(547)	(602)	(547)
Other comprehensive income (loss) before reclassifications	11	(37)	(3)	(35)
Amounts reclassified from Accumulated other comprehensive net (loss) income	3	6	7	5
Income tax benefit (expense)	0	1	(3)	0
Net current period other comprehensive income (loss)	14	(30)	1	(30)
Balance, ending	$ (601)	$ (577)	$ (601)	$ (577)

EMPLOYEE BENEFIT PLANS (Components of the Net Cost of Retirement Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Weighted average long-term expected rate or return on plan assets			3.90%
Other Postretirement Benefits Plan [Member] \| Retirement Income Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 0	$ 0	$ 0	$ 0
Interest cost	5	6	10	12
Expected return on plan assets	(5)	(5)	(9)	(9)
Amortization of unrecognized items	2	3	4	5
Total	$ 2	$ 4	$ 5	$ 8

EMPLOYEE BENEFIT PLANS (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Other Postretirement Benefits Plan [Member] \| Retirement Health Care Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Net periodic benefit	$ 1	$ 1	$ 1	$ 1
Other Postretirement Benefits Plan [Member] \| Retirement Income Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Net periodic benefit	(2)	(4)	(5)	(8)
UNITED STATES \| Retirement Income Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Discretionary contributions	$ 2	$ 2	$ 4	$ 4

OTHER CONTINGENCIES AND GUARANTEES (Details) - USD ($) $ in Millions	6 Months Ended
	Dec. 31, 2019	Jun. 30, 2019	Jun. 30, 2017
Loss Contingencies [Line Items]
Liability for aggregate future remediation costs	$ 27	$ 27
Letter of credit	10
Letter of credit, amount outstanding	0
Alameda County, California Matter
Loss Contingencies [Line Items]
Liability for aggregate future remediation costs	$ 14	14	$ 14
Remediation period	30 years
Maximum undiscounted costs	$ 28
Dickinson County, Michigan Matter
Loss Contingencies [Line Items]
Liability for aggregate future remediation costs	$ 11	$ 11
Remediation period	30 years
Percentage of liability for aggregate remediation and associated costs, other than legal fees	24.30%

SEGMENT RESULTS (Narrative) (Details) - reportable_segment	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Concentration Risk [Line Items]
Number of reportable segments			4
Sales Revenue, Net [Member] \| Customer Concentration Risk [Member] \| Walmart Stores, Inc. [Member]
Concentration Risk [Line Items]
Concentration percentage	25.00%	24.00%	26.00%	25.00%

SEGMENT RESULTS (Selected Financial Information Relating To Company's Segments ) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Net sales	$ 1,449	$ 1,473	$ 2,955	$ 3,036
Earnings (losses) before income taxes	$ 235	$ 224	$ 493	$ 492
Product Concentration Risk [Member] \| Revenue from Contract with Customer [Member]
Segment Reporting Information [Line Items]
Concentration percentage	100.00%	100.00%	100.00%	100.00%
Cleaning [Member] \| Product Concentration Risk [Member] \| Revenue from Contract with Customer [Member]
Segment Reporting Information [Line Items]
Concentration percentage	34.00%	34.00%	36.00%	35.00%
Cleaning [Member] \| Home Care [Member] \| Product Concentration Risk [Member] \| Revenue from Contract with Customer [Member]
Segment Reporting Information [Line Items]
Concentration percentage	20.00%	19.00%	21.00%	20.00%
Cleaning [Member] \| Laundry [Member] \| Product Concentration Risk [Member] \| Revenue from Contract with Customer [Member]
Segment Reporting Information [Line Items]
Concentration percentage	8.00%	9.00%	9.00%	9.00%
Cleaning [Member] \| Professional Products [Member] \| Product Concentration Risk [Member] \| Revenue from Contract with Customer [Member]
Segment Reporting Information [Line Items]
Concentration percentage	6.00%	6.00%	6.00%	6.00%
Household [Member] \| Product Concentration Risk [Member] \| Revenue from Contract with Customer [Member]
Segment Reporting Information [Line Items]
Concentration percentage	25.00%	26.00%	25.00%	28.00%
Household [Member] \| Bags, Wraps, And Containers [Member] \| Product Concentration Risk [Member] \| Revenue from Contract with Customer [Member]
Segment Reporting Information [Line Items]
Concentration percentage	13.00%	13.00%	12.00%	14.00%
Household [Member] \| Cat Litter [Member] \| Product Concentration Risk [Member] \| Revenue from Contract with Customer [Member]
Segment Reporting Information [Line Items]
Concentration percentage	8.00%	8.00%	8.00%	7.00%
Household [Member] \| Grilling [Member] \| Product Concentration Risk [Member] \| Revenue from Contract with Customer [Member]
Segment Reporting Information [Line Items]
Concentration percentage	3.00%	3.00%	4.00%	5.00%
Household [Member] \| Digestive Health [Member] \| Product Concentration Risk [Member] \| Revenue from Contract with Customer [Member]
Segment Reporting Information [Line Items]
Concentration percentage	1.00%	2.00%	1.00%	2.00%
Lifestyle [Member] \| Product Concentration Risk [Member] \| Revenue from Contract with Customer [Member]
Segment Reporting Information [Line Items]
Concentration percentage	24.00%	23.00%	23.00%	21.00%
Lifestyle [Member] \| Food Products [Member] \| Product Concentration Risk [Member] \| Revenue from Contract with Customer [Member]
Segment Reporting Information [Line Items]
Concentration percentage	10.00%	10.00%	9.00%	9.00%
Lifestyle [Member] \| Natural Personal Care [Member] \| Product Concentration Risk [Member] \| Revenue from Contract with Customer [Member]
Segment Reporting Information [Line Items]
Concentration percentage	7.00%	6.00%	6.00%	5.00%
Lifestyle [Member] \| Water Filtration [Member] \| Product Concentration Risk [Member] \| Revenue from Contract with Customer [Member]
Segment Reporting Information [Line Items]
Concentration percentage	3.00%	3.00%	4.00%	3.00%
Lifestyle [Member] \| Dietary Supplements [Member] \| Product Concentration Risk [Member] \| Revenue from Contract with Customer [Member]
Segment Reporting Information [Line Items]
Concentration percentage	4.00%	4.00%	4.00%	4.00%
International [Member] \| Product Concentration Risk [Member] \| Revenue from Contract with Customer [Member]
Segment Reporting Information [Line Items]
Concentration percentage	17.00%	17.00%	16.00%	16.00%
Operating Segments [Member] \| Cleaning [Member]
Segment Reporting Information [Line Items]
Net sales	$ 501	$ 500	$ 1,063	$ 1,071
Earnings (losses) before income taxes	147	135	325	315
Operating Segments [Member] \| Household [Member]
Segment Reporting Information [Line Items]
Net sales	360	393	741	835
Earnings (losses) before income taxes	37	46	62	105
Operating Segments [Member] \| Lifestyle [Member]
Segment Reporting Information [Line Items]
Net sales	347	335	669	644
Earnings (losses) before income taxes	85	78	155	140
Operating Segments [Member] \| International [Member]
Segment Reporting Information [Line Items]
Net sales	241	245	482	486
Earnings (losses) before income taxes	31	25	70	53
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Net sales	0	0	0	0
Earnings (losses) before income taxes	$ (65)	$ (60)	$ (119)	$ (121)