The Clorox Company (CLX) 10-Q 31 Oct 19 2020 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Sep. 30, 2019	Oct. 17, 2019
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 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		125,503,468
Entity Central Index Key	0000021076
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2020

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings and Comprehensive Income (Unaudited) - USD ($) shares in Thousands, $ in Millions	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Income Statement [Abstract]
Net sales	$ 1,506	$ 1,563
Cost of products sold	843	885
Gross profit	663	678
Selling and administrative expenses	211	212
Advertising costs	137	139
Research and development costs	30	32
Interest expense	25	24
Other (income) expense, net	2	3
Earnings before income taxes	258	268
Income taxes	55	58
Net earnings	$ 203	$ 210
Net earnings per share
Basic net earnings per share (in dollars per share)	$ 1.61	$ 1.65
Diluted net earnings per share (in dollars per share)	$ 1.59	$ 1.62
Weighted average shares outstanding (in thousands)
Basic (in shares)	125,823	127,803
Diluted (in shares)	127,465	129,946
Comprehensive income	$ 190	$ 210

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Sep. 30, 2019	Jun. 30, 2019
Current assets
Cash and cash equivalents	$ 150	$ 111
Receivables, net	556	631
Inventories, net	504	512
Prepaid expenses and other current assets	56	51
Total current assets	1,266	1,305
Property, plant and equipment, net of accumulated depreciation and amortization of $2,156 and $2,150, respectively	1,034	1,034
Operating lease right-of-use assets	312
Goodwill	1,585	1,591
Trademarks, net	789	791
Other intangible assets, net	118	121
Other assets	293	274
Total assets	5,397	5,116
Current liabilities
Notes and loans payable	449	396
Current operating lease liabilities	57
Accounts payable and accrued liabilities	941	1,035
Income taxes payable	11	9
Total current liabilities	1,458	1,440
Long-term debt	2,287	2,287
Long-term operating lease liabilities	290
Other liabilities	744	780
Deferred income taxes	68	50
Total liabilities	4,847	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 September 30, 2019 and June 30, 2019; and 125,495,492 and 125,686,325 shares outstanding as of September 30, 2019 and June 30, 2019, respectively	159	159
Additional paid-in capital	1,043	1,046
Retained earnings	3,241	3,150
Treasury shares, at cost: 33,245,969 and 33,055,136 shares as of September 30, 2019 and June 30, 2019, respectively	(3,278)	(3,194)
Accumulated other comprehensive net (loss) income	(615)	(602)
Stockholders’ equity	550	559
Total liabilities and stockholders’ equity	$ 5,397	$ 5,116

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2019	Jun. 30, 2019
Statement of Financial Position [Abstract]
Property, plant and equipment, accumulated depreciation and amortization	$ 2,156	$ 2,150
Preferred stock, par value (in dollars per share)	$ 1	$ 1
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	$ 1
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)	125,495,492	125,686,325
Treasury stock, shares (in shares)	33,245,969	33,055,136

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Operating activities:
Net earnings	$ 203	$ 210
Adjustments to reconcile net earnings to net cash provided by operations:
Depreciation and amortization	44	44
Stock-based compensation	6	8
Deferred income taxes	7	(3)
Other	19	16
Changes in:
Receivables, net	73	33
Inventories, net	6	(13)
Prepaid expenses and other current assets	10	13
Accounts payable and accrued liabilities	(82)	(52)
Operating lease right-of-use assets and liabilities, net	1
Income taxes payable/receivable, net	4	29
Net cash provided by operations	271	259
Investing activities:
Capital expenditures	(54)	(36)
Other	12	0
Net cash used for investing activities	(42)	(36)
Financing activities:
Notes and loans payable, net	51	80
Treasury stock purchased	(110)	(203)
Cash dividends paid	(133)	(122)
Issuance of common stock for employee stock plans and other	9	53
Net cash used for financing activities	(183)	(192)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(2)	0
Net increase (decrease) in cash, cash equivalents, and restricted cash	44	31
Cash, cash equivalents, and restricted cash:
Beginning of period	113	134
End of period	$ 157	$ 165

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Sep. 30, 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 months ended September 30, 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 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 January 2017, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (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 is currently evaluating the impact that the adoption of this guidance will have on its consolidated financial statements. 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

INVENTORIES, NET	3 Months Ended
	Sep. 30, 2019
Inventory Disclosure [Abstract]
INVENTORIES, NET	INVENTORIES, NET Inventories, net, consisted of the following as of: 9/30/2019 6/30/2019 Finished goods $ 410 $ 411 Raw materials and packaging 124 125 Work in process 6 6 LIFO allowances (36 ) (30 ) Total $ 504 $ 512

LEASES AND OTHER COMMITMENTS LE

LEASES AND OTHER COMMITMENTS LEASES AND OTHER COMMITMENTS	3 Months Ended
	Sep. 30, 2019
Leases [Abstract]
LEASES AND OTHER COMMITMENTS	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 12 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 9/30/2019 Operating leases Right-of-use assets Operating lease right-of-use assets $ 312 Current lease liabilities Current operating lease liabilities 57 Non-current lease liabilities Long-term operating lease liabilities 290 Total operating lease liabilities $ 347 Finance leases Right-of-use assets Other assets $ 15 Current lease liabilities Accounts payable and accrued liabilities 2 Non-current lease liabilities Other liabilities 13 Total finance lease liabilities $ 15 Components of lease cost were as follows: Three Months Ended 9/30/2019 Operating lease cost $ 18 Finance lease cost: Amortization of right-of-use assets 1 Interest on lease liabilities — Total finance lease cost $ 1 Variable lease cost $ 10 Supplemental cash flow information and non-cash activity related to the Company’s leases were as follows: Three Months Ended 9/30/2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases, net $ 17 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 $ 11 Finance leases 7 Weighted-average remaining lease term and discount rate for the Company’s leases were as follows: 9/30/2019 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 September 30, 2019 were as follows: Year Operating leases Finance leases 2020 $ 31 $ 2 2021 65 2 2022 53 2 2023 45 2 2024 39 2 Thereafter 155 7 Total lease payments $ 388 $ 17 Less: Imputed interest (41 ) (2 ) Total lease liabilities $ 347 $ 15 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	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 12 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 9/30/2019 Operating leases Right-of-use assets Operating lease right-of-use assets $ 312 Current lease liabilities Current operating lease liabilities 57 Non-current lease liabilities Long-term operating lease liabilities 290 Total operating lease liabilities $ 347 Finance leases Right-of-use assets Other assets $ 15 Current lease liabilities Accounts payable and accrued liabilities 2 Non-current lease liabilities Other liabilities 13 Total finance lease liabilities $ 15 Components of lease cost were as follows: Three Months Ended 9/30/2019 Operating lease cost $ 18 Finance lease cost: Amortization of right-of-use assets 1 Interest on lease liabilities — Total finance lease cost $ 1 Variable lease cost $ 10 Supplemental cash flow information and non-cash activity related to the Company’s leases were as follows: Three Months Ended 9/30/2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases, net $ 17 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 $ 11 Finance leases 7 Weighted-average remaining lease term and discount rate for the Company’s leases were as follows: 9/30/2019 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 September 30, 2019 were as follows: Year Operating leases Finance leases 2020 $ 31 $ 2 2021 65 2 2022 53 2 2023 45 2 2024 39 2 Thereafter 155 7 Total lease payments $ 388 $ 17 Less: Imputed interest (41 ) (2 ) Total lease liabilities $ 347 $ 15 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

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS	3 Months Ended
	Sep. 30, 2019
FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS [Abstract]
FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS	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 September 30, 2019 , the notional amount of commodity derivatives was $31 , of which $17 related to soybean oil futures used for the Food products business and $14 related to jet fuel swaps used for the Charcoal 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 $55 and $61 , respectively, as of September 30, 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 September 30, 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 9/30/2019 9/30/2018 Commodity purchase derivative contracts $ — $ 4 Foreign exchange derivative contracts 1 — Interest rate derivative contracts — — Total $ 1 $ 4 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 9/30/2019 9/30/2018 Commodity purchase derivative contracts Cost of products sold $ — $ 4 Foreign exchange derivative contracts Cost of products sold — 1 Interest rate derivative contracts Interest expense (2 ) (2 ) Total $ (2 ) $ 3 The estimated amount of the existing net gain (loss) in Accumulated other comprehensive net (loss) income as of September 30, 2019 , that is expected to be reclassified into Net earnings within the next twelve months is $(7) . 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 September 30, 2019 and June 30, 2019 , $ 1 contained such terms. As of September 30, 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 September 30, 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 both September 30, 2019 and June 30, 2019 , the Company maintained cash margin balances related to exchange-traded futures contracts of $1 , which are classified as Prepaid expenses and other current assets in the condensed consolidated balance sheets. Trust Assets The Company holds 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 September 30, 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: 9/30/2019 6/30/2019 Balance sheet Fair value Carrying Estimated Carrying Estimated Assets Foreign exchange forward contracts Prepaid expenses and other current assets 2 $ 1 $ 1 $ — $ — $ 1 $ 1 $ — $ — Liabilities Commodity purchase futures contracts Accounts payable and accrued liabilities 1 $ — $ — $ 1 $ 1 Commodity purchase swaps contracts Accounts payable and accrued liabilities 2 2 2 1 1 $ 2 $ 2 $ 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: 9/30/2019 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 $ 43 $ 43 $ 26 $ 26 Time deposits Cash and cash equivalents (a) 2 18 18 7 7 Trust assets for nonqualified deferred compensation plans Other assets 1 100 100 96 96 $ 161 $ 161 $ 129 $ 129 Liabilities Notes and loans payable Notes and loans payable (b) 2 $ 449 $ 449 $ 396 $ 396 Current maturities of long-term debt and Long-term debt Current maturities of long- term debt and Long-term debt (c) 2 2,287 2,429 2,287 2,402 $ 2,736 $ 2,878 $ 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.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Sep. 30, 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 21.5% for both the three months ended September 30, 2019 and 2018. In comparison to prior period, the Company had a reduced benefit from excess tax deductions offset by a greater benefit from reduced tax on foreign earnings and release of uncertain tax positions .

NET EARNINGS PER SHARE (EPS)

NET EARNINGS PER SHARE (EPS)	3 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
NET EARNINGS PER SHARE (EPS)	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 9/30/2019 9/30/2018 Basic 125,823 127,803 Dilutive effect of stock options and other 1,642 2,143 Diluted 127,465 129,946 Antidilutive stock options and other — 967

COMPREHENSIVE INCOME

COMPREHENSIVE INCOME	3 Months Ended
	Sep. 30, 2019
Stockholders' Equity Note [Abstract]
COMPREHENSIVE INCOME	COMPREHENSIVE INCOME The following table provides a summary of Comprehensive income for the periods indicated: Three Months Ended 9/30/2019 9/30/2018 Net earnings $ 203 $ 210 Other comprehensive income (loss), net of tax: Foreign currency translation adjustments (16 ) (2 ) Net unrealized gains (losses) on derivatives 2 1 Pension and postretirement benefit adjustments 1 1 Total other comprehensive income (loss), net of tax (13 ) — Comprehensive income $ 190 $ 210

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	3 Months Ended
	Sep. 30, 2019
Equity [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS ’ EQUITY Changes in the components of Stockholders’ equity were as follows for the periods indicated: Three Months Ended September 30 Common Stock Additional Paid-in Capital Retained Earnings Treasury Stock Accumulated Other Comprehensive Net (Loss) Income Total Stockholders ’ Equity Amount Shares Amount Shares 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 210 210 Other comprehensive income (loss) — — Dividends ($0.96 per share declared) (123 ) (123 ) Stock-based compensation 8 8 Other employee stock plan activities 1 2 54 1,046 57 Treasury stock purchased (198 ) (1,423 ) (198 ) Balance as of September 30, 2018 $ 159 158,741 $ 984 $ 2,883 $ (2,802 ) (31,136 ) $ (547 ) $ 677 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 203 203 Other comprehensive income (loss) (13 ) (13 ) Dividends ($1.06 per share declared) (134 ) (134 ) Stock-based compensation 6 6 Other employee stock plan activities (9 ) — 20 472 11 Treasury stock purchased (104 ) (663 ) (104 ) Balance as of September 30, 2019 $ 159 158,741 $ 1,043 $ 3,241 $ (3,278 ) (33,246 ) $ (615 ) $ 550 (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 9/30/2019 9/30/2018 Amount Shares Amount Shares Open-market purchase program $ — — $ 78 591 Evergreen Program 104 663 120 832 Total stock repurchases $ 104 663 $ 198 1,423 Changes in Accumulated other comprehensive net (loss) income by component were as follows for the periods indicated: Three Months Ended September 30 Foreign currency translation adjustments Net unrealized gains (losses) on derivatives Pension and postretirement benefit adjustments Accumulated other comprehensive (loss) income Balance as of June 30, 2018 $ (384 ) $ (25 ) $ (138 ) $ (547 ) Other comprehensive income (loss) before reclassifications (2 ) 4 — 2 Amounts reclassified from Accumulated other comprehensive net (loss) income — (3 ) 2 (1 ) Income tax benefit (expense) — — (1 ) (1 ) Net current period other comprehensive income (loss) (2 ) 1 1 — Balance as of September 30, 2018 $ (386 ) $ (24 ) $ (137 ) $ (547 ) Balance as of June 30, 2019 $ (414 ) $ (23 ) $ (165 ) $ (602 ) Other comprehensive income (loss) before reclassifications (15 ) 1 — (14 ) Amounts reclassified from Accumulated other comprehensive net (loss) income — 2 2 4 Income tax benefit (expense), and other (1 ) (1 ) (1 ) (3 ) Net current period other comprehensive income (loss) (16 ) 2 1 (13 ) Balance as of September 30, 2019 $ (430 ) $ (21 ) $ (164 ) $ (615 ) 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 each of the three months ended September 30, 2019 and 2018, Other comprehensive income (loss) on these loans totaled $ (2) . There were no amounts associated with these loans reclassified from Accumulated other comprehensive net (loss) income for the periods presented.

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	3 Months Ended
	Sep. 30, 2019
Defined Benefit Plan [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT PLANS The following table summarizes the components of net periodic benefit cost for the Company’s retirement income plans: Three Months Ended 9/30/2019 9/30/2018 Service cost $ — $ — Interest cost 5 6 Expected return on plan assets (1) (4 ) (4 ) Amortization of unrecognized items 2 2 Total $ 3 $ 4 (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% . During each of the three months ended September 30, 2019 and 2018, the Company made $ 2 in contributions to its domestic retirement income plans. Net periodic benefit costs are reflected in Other (income) expense, net.

OTHER CONTINGENCIES AND GUARANT

OTHER CONTINGENCIES AND GUARANTEES	3 Months Ended
	Sep. 30, 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 September 30, 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 September 30, 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 September 30, 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 September 30, 2019 and June 30, 2019 . As of September 30, 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

SEGMENT RESULTS	3 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
SEGMENT RESULTS	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 9/30/2019 9/30/2018 Cleaning $ 562 $ 571 Household 381 442 Lifestyle 322 309 International 241 241 Corporate — — Total $ 1,506 $ 1,563 Earnings (losses) before income taxes Three Months Ended 9/30/2019 9/30/2018 Cleaning $ 178 $ 180 Household 25 59 Lifestyle 70 62 International 39 28 Corporate (54 ) (61 ) Total $ 258 $ 268 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 26% and 25% for the three months ended September 30, 2019 and 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 9/30/2019 9/30/2018 Home care 22 % 21 % Laundry 10 % 10 % Professional products 6 % 6 % Cleaning 38 % 37 % Bags, wraps, and containers 12 % 13 % Cat litter 8 % 7 % Charcoal 4 % 6 % Digestive health 1 % 2 % Household 25 % 28 % Food products 9 % 9 % Natural personal care 5 % 4 % Water filtration 4 % 4 % Dietary supplements 3 % 3 % Lifestyle 21 % 20 % International 16 % 15 % Total 100 % 100 % .

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The unaudited interim condensed consolidated financial statements for the three months ended September 30, 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 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 January 2017, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (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 is currently evaluating the impact that the adoption of this guidance will have on its consolidated financial statements. 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 September 30, 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)

INVENTORIES, NET (Tables)	3 Months Ended
	Sep. 30, 2019
Inventory Disclosure [Abstract]
Schedule of Inventories, Net	Inventories, net, consisted of the following as of: 9/30/2019 6/30/2019 Finished goods $ 410 $ 411 Raw materials and packaging 124 125 Work in process 6 6 LIFO allowances (36 ) (30 ) Total $ 504 $ 512

LEASES AND OTHER COMMITMENTS (T

LEASES AND OTHER COMMITMENTS (Tables)	3 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Supplemental Balance Sheet Information Schedule	Supplemental balance sheet information related to the Company’s leases was as follows: Balance sheet classification 9/30/2019 Operating leases Right-of-use assets Operating lease right-of-use assets $ 312 Current lease liabilities Current operating lease liabilities 57 Non-current lease liabilities Long-term operating lease liabilities 290 Total operating lease liabilities $ 347 Finance leases Right-of-use assets Other assets $ 15 Current lease liabilities Accounts payable and accrued liabilities 2 Non-current lease liabilities Other liabilities 13 Total finance lease liabilities $ 15
Lease Cost Components, Supplemental Cash Flow Information and Non-Cash Activity, Weighted-Average Remaining Lease Term and Discount Rate For Company's Leases Schedules	Components of lease cost were as follows: Three Months Ended 9/30/2019 Operating lease cost $ 18 Finance lease cost: Amortization of right-of-use assets 1 Interest on lease liabilities — Total finance lease cost $ 1 Variable lease cost $ 10 Weighted-average remaining lease term and discount rate for the Company’s leases were as follows: 9/30/2019 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 % Supplemental cash flow information and non-cash activity related to the Company’s leases were as follows: Three Months Ended 9/30/2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases, net $ 17 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 $ 11 Finance leases 7
Maturities of Operating Lease Liabilities by Fiscal Year Schedule	Maturities of lease liabilities by fiscal year for the Company’s leases as of September 30, 2019 were as follows: Year Operating leases Finance leases 2020 $ 31 $ 2 2021 65 2 2022 53 2 2023 45 2 2024 39 2 Thereafter 155 7 Total lease payments $ 388 $ 17 Less: Imputed interest (41 ) (2 ) Total lease liabilities $ 347 $ 15
Maturities of Finance Lease Liabilities by Fiscal Year Schedule	Maturities of lease liabilities by fiscal year for the Company’s leases as of September 30, 2019 were as follows: Year Operating leases Finance leases 2020 $ 31 $ 2 2021 65 2 2022 53 2 2023 45 2 2024 39 2 Thereafter 155 7 Total lease payments $ 388 $ 17 Less: Imputed interest (41 ) (2 ) Total lease liabilities $ 347 $ 15
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 FAI_2

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Sep. 30, 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 9/30/2019 9/30/2018 Commodity purchase derivative contracts $ — $ 4 Foreign exchange derivative contracts 1 — Interest rate derivative contracts — — Total $ 1 $ 4
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 9/30/2019 9/30/2018 Commodity purchase derivative contracts Cost of products sold $ — $ 4 Foreign exchange derivative contracts Cost of products sold — 1 Interest rate derivative contracts Interest expense (2 ) (2 ) Total $ (2 ) $ 3
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: 9/30/2019 6/30/2019 Balance sheet Fair value Carrying Estimated Carrying Estimated Assets Foreign exchange forward contracts Prepaid expenses and other current assets 2 $ 1 $ 1 $ — $ — $ 1 $ 1 $ — $ — Liabilities Commodity purchase futures contracts Accounts payable and accrued liabilities 1 $ — $ — $ 1 $ 1 Commodity purchase swaps contracts Accounts payable and accrued liabilities 2 2 2 1 1 $ 2 $ 2 $ 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: 9/30/2019 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 $ 43 $ 43 $ 26 $ 26 Time deposits Cash and cash equivalents (a) 2 18 18 7 7 Trust assets for nonqualified deferred compensation plans Other assets 1 100 100 96 96 $ 161 $ 161 $ 129 $ 129 Liabilities Notes and loans payable Notes and loans payable (b) 2 $ 449 $ 449 $ 396 $ 396 Current maturities of long-term debt and Long-term debt Current maturities of long- term debt and Long-term debt (c) 2 2,287 2,429 2,287 2,402 $ 2,736 $ 2,878 $ 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) (T

NET EARNINGS PER SHARE (EPS) (Tables)	3 Months Ended
	Sep. 30, 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 9/30/2019 9/30/2018 Basic 125,823 127,803 Dilutive effect of stock options and other 1,642 2,143 Diluted 127,465 129,946 Antidilutive stock options and other — 967

COMPREHENSIVE INCOME (Tables)

COMPREHENSIVE INCOME (Tables)	3 Months Ended
	Sep. 30, 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 9/30/2019 9/30/2018 Net earnings $ 203 $ 210 Other comprehensive income (loss), net of tax: Foreign currency translation adjustments (16 ) (2 ) Net unrealized gains (losses) on derivatives 2 1 Pension and postretirement benefit adjustments 1 1 Total other comprehensive income (loss), net of tax (13 ) — Comprehensive income $ 190 $ 210

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	3 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Schedule of Stockholders Equity	Changes in the components of Stockholders’ equity were as follows for the periods indicated: Three Months Ended September 30 Common Stock Additional Paid-in Capital Retained Earnings Treasury Stock Accumulated Other Comprehensive Net (Loss) Income Total Stockholders ’ Equity Amount Shares Amount Shares 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 210 210 Other comprehensive income (loss) — — Dividends ($0.96 per share declared) (123 ) (123 ) Stock-based compensation 8 8 Other employee stock plan activities 1 2 54 1,046 57 Treasury stock purchased (198 ) (1,423 ) (198 ) Balance as of September 30, 2018 $ 159 158,741 $ 984 $ 2,883 $ (2,802 ) (31,136 ) $ (547 ) $ 677 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 203 203 Other comprehensive income (loss) (13 ) (13 ) Dividends ($1.06 per share declared) (134 ) (134 ) Stock-based compensation 6 6 Other employee stock plan activities (9 ) — 20 472 11 Treasury stock purchased (104 ) (663 ) (104 ) Balance as of September 30, 2019 $ 159 158,741 $ 1,043 $ 3,241 $ (3,278 ) (33,246 ) $ (615 ) $ 550 (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 9/30/2019 9/30/2018 Amount Shares Amount Shares Open-market purchase program $ — — $ 78 591 Evergreen Program 104 663 120 832 Total stock repurchases $ 104 663 $ 198 1,423
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 September 30 Foreign currency translation adjustments Net unrealized gains (losses) on derivatives Pension and postretirement benefit adjustments Accumulated other comprehensive (loss) income Balance as of June 30, 2018 $ (384 ) $ (25 ) $ (138 ) $ (547 ) Other comprehensive income (loss) before reclassifications (2 ) 4 — 2 Amounts reclassified from Accumulated other comprehensive net (loss) income — (3 ) 2 (1 ) Income tax benefit (expense) — — (1 ) (1 ) Net current period other comprehensive income (loss) (2 ) 1 1 — Balance as of September 30, 2018 $ (386 ) $ (24 ) $ (137 ) $ (547 ) Balance as of June 30, 2019 $ (414 ) $ (23 ) $ (165 ) $ (602 ) Other comprehensive income (loss) before reclassifications (15 ) 1 — (14 ) Amounts reclassified from Accumulated other comprehensive net (loss) income — 2 2 4 Income tax benefit (expense), and other (1 ) (1 ) (1 ) (3 ) Net current period other comprehensive income (loss) (16 ) 2 1 (13 ) Balance as of September 30, 2019 $ (430 ) $ (21 ) $ (164 ) $ (615 )

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	3 Months Ended
	Sep. 30, 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 9/30/2019 9/30/2018 Service cost $ — $ — Interest cost 5 6 Expected return on plan assets (1) (4 ) (4 ) Amortization of unrecognized items 2 2 Total $ 3 $ 4 (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)

SEGMENT RESULTS (Tables)	3 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Selected Financial Information Relating to the Company's Segments	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 9/30/2019 9/30/2018 Cleaning $ 562 $ 571 Household 381 442 Lifestyle 322 309 International 241 241 Corporate — — Total $ 1,506 $ 1,563 Earnings (losses) before income taxes Three Months Ended 9/30/2019 9/30/2018 Cleaning $ 178 $ 180 Household 25 59 Lifestyle 70 62 International 39 28 Corporate (54 ) (61 ) Total $ 258 $ 268 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 9/30/2019 9/30/2018 Home care 22 % 21 % Laundry 10 % 10 % Professional products 6 % 6 % Cleaning 38 % 37 % Bags, wraps, and containers 12 % 13 % Cat litter 8 % 7 % Charcoal 4 % 6 % Digestive health 1 % 2 % Household 25 % 28 % Food products 9 % 9 % Natural personal care 5 % 4 % Water filtration 4 % 4 % Dietary supplements 3 % 3 % Lifestyle 21 % 20 % International 16 % 15 % Total 100 % 100 % .

SUMMARY OF SIGNIFICANT ACCOUN_3

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)

INVENTORIES, NET (Details) - USD ($) $ in Millions	Sep. 30, 2019	Jun. 30, 2019
Inventory Disclosure [Abstract]
Finished goods	$ 410	$ 411
Raw materials and packaging	124	125
Work in process	6	6
LIFO allowances	(36)	(30)
Total	$ 504	$ 512

LEASES AND OTHER COMMITMENTS (N

LEASES AND OTHER COMMITMENTS (Narrative) (Details)	3 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Remaining lease terms	12 years

LEASES AND OTHER COMMITMENTS (S

LEASES AND OTHER COMMITMENTS (Supplemental Balance Sheet Information Schedule) (Details) $ in Millions	Sep. 30, 2019USD ($)
Operating leases
Operating lease - right-of-use assets	$ 312
Operating lease - current lease liabilities	57
Operating lease - non-current lease liabilities	290
Total operating lease liabilities	347
Finance leases
Finance lease - right-of-use assets	15
Finance lease - current lease liabilities	2
Finance lease - non-current lease liabilities	13
Total finance lease liabilities	$ 15

LEASES AND OTHER COMMITMENTS (C

LEASES AND OTHER COMMITMENTS (Components of Lease Cost Schedule) (Details) $ in Millions	3 Months Ended
	Sep. 30, 2019USD ($)
Leases [Abstract]
Operating lease cost	$ 18
Finance lease cost:
Amortization of right-of-use assets	1
Interest on lease liabilities	0
Total finance lease cost	1
Variable lease cost	$ 10

LEASES AND OTHER COMMITMENTS _2

LEASES AND OTHER COMMITMENTS (Supplemental Cash Flow Information and Non-Cash Activity Schedule) (Details) $ in Millions	3 Months Ended
	Sep. 30, 2019USD ($)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases, net	$ 17
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	11
Finance leases	$ 7

LEASES AND OTHER COMMITMENTS (W

LEASES AND OTHER COMMITMENTS (Weighted-Average Remaining Lease Term and Discount Rate Schedule) (Details)	Sep. 30, 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 (M

LEASES AND OTHER COMMITMENTS (Maturities of Lease Liabilities by Fiscal Year Schedule) (Details) - USD ($) $ in Millions	Sep. 30, 2019	Jun. 30, 2019
Operating Leases, After Adoption of 842
2020	$ 31
2021	65
2022	53
2023	45
2024	39
Thereafter	155
Total lease payments	388	$ 389
Less: Imputed interest	(41)
Total lease liabilities	347
Finance Leases, After Adoption of 842
2020	2
2021	2
2022	2
2023	2
2024	2
Thereafter	7
Total lease payments	17
Less: Imputed interest	(2)
Total lease liabilities	$ 15

LEASES AND OTHER COMMITMENTS (F

LEASES AND OTHER COMMITMENTS (Future Minimum Annual Operating and Capital Lease Payments Required before Adoption of ASC 842 Schedule) (Details) - USD ($) $ in Millions	Sep. 30, 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	$ 388	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 FAI_3

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Narrative) (Details) $ in Millions	3 Months Ended
	Sep. 30, 2019USD ($)instrument	Jun. 30, 2019USD ($)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	$ (7)
Derivative instruments subject to contractually defined counterparty liability position limits	$ 1	$ 1
Total Commodity Purchase Derivative Contracts [Member]
Derivative [Line Items]
Maximum duration, commodity contracts	2 years
Notional amounts	$ 31	24
Jet Fuel Swaps [Member]
Derivative [Line Items]
Notional amounts	14	11
Soybean Oil Futures [Member]
Derivative [Line Items]
Notional amounts	17	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	$ 55	$ 61

FINANCIAL INSTRUMENTS AND FAI_4

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Schedule of the Effects of Derivative Instruments Designated as Hedging Instruments) (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in Other comprehensive income	$ 1
Gains (losses) recognized in Other comprehensive income		$ 4
Gains (losses) reclassified from Accumulated other comprehensive net (loss) income and recognized in Net earnings	(2)
Gains (losses) reclassified from Accumulated other comprehensive net (loss) income and recognized in Net earnings		3
Commodity Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in Other comprehensive income	0
Gains (losses) recognized in Other comprehensive income		4
Foreign Exchange Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in Other comprehensive income	1
Gains (losses) recognized in Other comprehensive income		0
Interest Rate Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in Other comprehensive income	0
Gains (losses) recognized in Other comprehensive income		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	0
Gains (losses) reclassified from Accumulated other comprehensive net (loss) income and recognized in Net earnings		4
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
Gains (losses) reclassified from Accumulated other comprehensive net (loss) income and recognized in Net earnings		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	$ (2)
Gains (losses) reclassified from Accumulated other comprehensive net (loss) income and recognized in Net earnings		$ (2)

FINANCIAL INSTRUMENTS AND FAI_5

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Schedule of Assets and Liabilities for Fair Value Disclosure) (Details) - USD ($) $ in Millions	Sep. 30, 2019	Jun. 30, 2019	Jun. 30, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 150	$ 111
Total assets	5,397	5,116
Notes and loans payable	449	396
Total liabilities	4,847	4,557
Reported Value Measurement [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	1	0
Derivative liabilities	2	2
Total assets	161		$ 129
Total liabilities	2,736		2,683
Estimate of Fair Value Measurement [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	1	0
Derivative liabilities	2	2
Total other assets in the fair value hierarchy	161		129
Total other liabilities in the fair value hierarchy	2,878		2,798
Prepaid Expenses and Other Current Assets [Member] | Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | Foreign Exchange Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	1	0
Prepaid Expenses and Other Current Assets [Member] | Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Foreign Exchange Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	1	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	2	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	2	$ 1
Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 1 [Member] | Reported Value Measurement [Member] | Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	43		26
Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	43		26
Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | Bank Time Deposits [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	18		7
Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Bank Time Deposits [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	18		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	449		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	449		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	2,287		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	2,429		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	100		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	$ 100		$ 96

INCOME TAXES (Narrative) (Detai

INCOME TAXES (Narrative) (Details)	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Effective tax rate on earnings from continuing operations	21.50%	21.50%

NET EARNINGS PER SHARE (EPS) (S

NET EARNINGS PER SHARE (EPS) (Schedule of Weighted Average Number of Shares) (Details) - shares shares in Thousands	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Earnings Per Share [Abstract]
Basic (in shares)	125,823	127,803
Dilutive effect of stock options and other (in shares)	1,642	2,143
Diluted (in shares)	127,465	129,946
Antidilutive stock options and other (in shares)	0	967

COMPREHENSIVE INCOME (Schedule

COMPREHENSIVE INCOME (Schedule of Comprehensive Income) (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Stockholders' Equity Note [Abstract]
Net earnings	$ 203	$ 210
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(16)	(2)
Net unrealized gains (losses) on derivatives	2
Net unrealized gains (losses) on derivatives		1
Pension and postretirement benefit adjustments	1	1
Total other comprehensive income (loss), net of tax	(13)	0
Comprehensive income	$ 190	$ 210

STOCKHOLDERS' EQUITY (Schedule

STOCKHOLDERS' EQUITY (Schedule of Equity) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Jul. 01, 2019	Jul. 01, 2018
Class of Stock [Line Items]
Dividends declared per share (in dollars per share)	$ 1.06	$ 0.96
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning	$ 559	$ 726
Cumulative effect of accounting changes, net of tax			$ 22	$ (3)
Net earnings	203	210
Other comprehensive income (loss)	(13)	0
Dividends	(134)	(123)
Stock-based compensation	6	8
Other employee stock plan activities	11	57
Treasury stock purchased	$ (104)	$ (198)
Treasury stock purchased (in shares)	(663)	(1,423)
Balance, ending	$ 550	$ 677
Common Stock [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning	$ 159	$ 159
Balance, beginning (in shares)	158,741	158,741
Balance, ending	$ 159	$ 159
Balance, ending (in shares)	158,741	158,741
Additional Paid-in Capital [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning	$ 1,046	$ 975
Stock-based compensation	6	8
Other employee stock plan activities	(9)	1
Balance, ending	1,043	984
Retained Earnings [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning	3,150	2,797
Cumulative effect of accounting changes, net of tax			$ 22	$ (3)
Net earnings	203	210
Dividends	(134)	(123)
Other employee stock plan activities	0	2
Balance, ending	3,241	2,883
Treasury Stock [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning	$ (3,194)	$ (2,658)
Balance, beginning (in shares)	33,055	30,759
Other employee stock plan activities	$ 20	$ 54
Other employee stock plan activities (in shares)	472	1,046
Treasury stock purchased	$ (104)	$ (198)
Treasury stock purchased (in shares)	(663)	(1,423)
Balance, ending	$ (3,278)	$ (2,802)
Balance, ending (in shares)	33,246	31,136
AOCI Attributable to Parent [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning	$ (602)	$ (547)
Other comprehensive income (loss)	(13)	0
Balance, ending	$ (615)	$ (547)

STOCKHOLDERS' EQUITY (Narrative

STOCKHOLDERS' EQUITY (Narrative) (Details)	3 Months Ended
	Sep. 30, 2019USD ($)repurchase_program	Sep. 30, 2018USD ($)repurchase_program
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of repurchase programs | repurchase_program	2	2
Long-Term Inter-Company Loans [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Re-measurement gains (losses) on long-term intercompany loans	$ (2,000,000)	$ (2,000,000)
Amounts reclassified from Accumulated other comprehensive net (loss) income	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
Evergreen Program [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Authorization limit	$ 0

STOCKHOLDERS' EQUITY (Share Rep

STOCKHOLDERS' EQUITY (Share Repurchase Programs) (Details) - USD ($) shares in Thousands, $ in Millions	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Share Repurchase Programs [Line Items]
Value of shares repurchased	$ 104	$ 198
Shares repurchased (in shares)	663	1,423
$2 Billion Open-Market Purchase Program [Member]
Share Repurchase Programs [Line Items]
Value of shares repurchased	$ 0	$ 78
Shares repurchased (in shares)	0	591
Evergreen Program [Member]
Share Repurchase Programs [Line Items]
Value of shares repurchased	$ 104	$ 120
Shares repurchased (in shares)	663	832

STOCKHOLDERS' EQUITY (Schedul_2

STOCKHOLDERS' EQUITY (Schedule of Changes in Accumulated Other Comprehensive Net (Losses) (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning	$ 559	$ 726
Balance, ending	550	677
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning	(414)	(384)
Other comprehensive income (loss) before reclassifications	(15)	(2)
Amounts reclassified from Accumulated other comprehensive net (loss) income	0	0
Income tax benefit (expense)	(1)	0
Net current period other comprehensive income (loss)	(16)	(2)
Balance, ending	(430)	(386)
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning		(25)
Other comprehensive income (loss) before reclassifications		4
Amounts reclassified from Accumulated other comprehensive net (loss) income		(3)
Income tax benefit (expense)		0
Net current period other comprehensive income (loss)		1
Balance, ending		(24)
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning	(23)
Other comprehensive income (loss) before reclassifications	1
Amounts reclassified from Accumulated other comprehensive net (loss) income	2
Income tax benefit (expense)	(1)
Net current period other comprehensive income (loss)	2
Balance, ending	(21)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning	(165)	(138)
Other comprehensive income (loss) before reclassifications	0	0
Amounts reclassified from Accumulated other comprehensive net (loss) income	2	2
Income tax benefit (expense)	(1)	(1)
Net current period other comprehensive income (loss)	1	1
Balance, ending	(164)	(137)
AOCI Attributable to Parent [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning	(602)	(547)
Other comprehensive income (loss) before reclassifications	(14)	2
Amounts reclassified from Accumulated other comprehensive net (loss) income	4	(1)
Income tax benefit (expense)	(3)	(1)
Net current period other comprehensive income (loss)	(13)	0
Balance, ending	$ (615)	$ (547)

EMPLOYEE BENEFIT PLANS (Details

EMPLOYEE BENEFIT PLANS (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2019	Sep. 30, 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
Interest cost	5	6
Expected return on plan assets	(4)	(4)
Amortization of unrecognized items	2	2
Total	3	4
UNITED STATES | Retirement Income Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Discretionary contributions	$ 2	$ 2

OTHER CONTINGENCIES AND GUARA_2

OTHER CONTINGENCIES AND GUARANTEES (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Jun. 30, 2017	Nov. 30, 2016
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) (De

SEGMENT RESULTS (Narrative) (Details) - reportable_segment	3 Months Ended
	Sep. 30, 2019	Sep. 30, 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	26.00%	25.00%

SEGMENT RESULTS (Selected Finan

SEGMENT RESULTS (Selected Financial Information Relating To Company's Segments ) (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting Information [Line Items]
Net sales	$ 1,506	$ 1,563
Earnings (losses) before income taxes	$ 258	$ 268
Product Concentration Risk [Member] | Revenue from Contract with Customer [Member]
Segment Reporting Information [Line Items]
Concentration percentage	100.00%	100.00%
Cleaning [Member] | Product Concentration Risk [Member] | Revenue from Contract with Customer [Member]
Segment Reporting Information [Line Items]
Concentration percentage	38.00%	37.00%
Cleaning [Member] | Home Care [Member] | Product Concentration Risk [Member] | Revenue from Contract with Customer [Member]
Segment Reporting Information [Line Items]
Concentration percentage	22.00%	21.00%
Cleaning [Member] | Laundry [Member] | Product Concentration Risk [Member] | Revenue from Contract with Customer [Member]
Segment Reporting Information [Line Items]
Concentration percentage	10.00%	10.00%
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%
Household [Member] | Product Concentration Risk [Member] | Revenue from Contract with Customer [Member]
Segment Reporting Information [Line Items]
Concentration percentage	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	12.00%	13.00%
Household [Member] | Cat Litter [Member] | Product Concentration Risk [Member] | Revenue from Contract with Customer [Member]
Segment Reporting Information [Line Items]
Concentration percentage	8.00%	7.00%
Household [Member] | Charcoal [Member] | Product Concentration Risk [Member] | Revenue from Contract with Customer [Member]
Segment Reporting Information [Line Items]
Concentration percentage	4.00%	6.00%
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%
Lifestyle [Member] | Product Concentration Risk [Member] | Revenue from Contract with Customer [Member]
Segment Reporting Information [Line Items]
Concentration percentage	21.00%	20.00%
Lifestyle [Member] | Food Products [Member] | Product Concentration Risk [Member] | Revenue from Contract with Customer [Member]
Segment Reporting Information [Line Items]
Concentration percentage	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	5.00%	4.00%
Lifestyle [Member] | Water Filtration [Member] | Product Concentration Risk [Member] | Revenue from Contract with Customer [Member]
Segment Reporting Information [Line Items]
Concentration percentage	4.00%	4.00%
Lifestyle [Member] | Dietary Supplements [Member] | Product Concentration Risk [Member] | Revenue from Contract with Customer [Member]
Segment Reporting Information [Line Items]
Concentration percentage	3.00%	3.00%
International [Member] | Product Concentration Risk [Member] | Revenue from Contract with Customer [Member]
Segment Reporting Information [Line Items]
Concentration percentage	16.00%	15.00%
Operating Segments [Member] | Cleaning [Member]
Segment Reporting Information [Line Items]
Net sales	$ 562	$ 571
Earnings (losses) before income taxes	178	180
Operating Segments [Member] | Household [Member]
Segment Reporting Information [Line Items]
Net sales	381	442
Earnings (losses) before income taxes	25	59
Operating Segments [Member] | Lifestyle [Member]
Segment Reporting Information [Line Items]
Net sales	322	309
Earnings (losses) before income taxes	70	62
Operating Segments [Member] | International [Member]
Segment Reporting Information [Line Items]
Net sales	241	241
Earnings (losses) before income taxes	39	28
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Net sales	0	0
Earnings (losses) before income taxes	$ (54)	$ (61)