The Clorox Company (CLX) 10-K 16 Aug 16 2016 FY Annual report Financial data

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION - USD ($) $ in Billions	12 Months Ended
	Jun. 30, 2016	Jul. 29, 2016	Dec. 31, 2015
Document and Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Entity Registrant Name	CLOROX CO /DE/
Entity Central Index Key	21,076
Current Fiscal Year End Date	--06-30
Entity Filer Category	Large Accelerated Filer
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 16.4
Entity Common Stock, Shares Outstanding		129,469,454

CONSOLIDATED STATEMENT OF EARNI

CONSOLIDATED STATEMENT OF EARNINGS - USD ($) shares in Thousands, $ in Millions	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Income Statement [Abstract]
Net sales	$ 5,761	$ 5,655	$ 5,514
Cost of products sold	3,163	3,190	3,158
Gross profit	2,598	2,465	2,356
Selling and administrative expenses	806	798	751
Advertising costs	587	523	503
Research and development costs	141	136	125
Interest expense	88	100	103
Other (income) expense, net	(7)	(13)	(10)
Earnings from continuing operations before income taxes	983	921	884
Income taxes on continuing operations	335	315	305
Earnings from continuing operations	648	606	579
Losses from discontinued operations, net of tax	0	(26)	(21)
Net earnings	$ 648	$ 580	$ 558
Net earnings (losses) per share, Basic
Continuing operations	$ 5.01	$ 4.65	$ 4.47
Discontinued operations	0	(0.20)	(0.16)
Basic net earnings per share	5.01	4.45	4.31
Net earnings (losses) per share, Diluted
Continuing operations	4.92	4.57	4.39
Discontinued operations	0	(0.20)	(0.16)
Diluted net earnings per share	$ 4.92	$ 4.37	$ 4.23
Weighted average shares outstanding (in thousands)
Basic	129,472	130,310	129,558
Diluted	131,717	132,776	131,742

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Earnings from continuing operations	$ 648	$ 606	$ 579
Losses from discontinued operations, net of tax	0	(26)	(21)
Net earnings	648	580	558
Other comprehensive (losses) income:
Foreign currency adjustments, net of tax	(53)	(54)	(37)
Net unrealized gains (losses) on derivatives, net of tax	9	(14)	(9)
Pension and postretirement benefit adjustments, net of tax	(24)	(17)	(4)
Total other comprehensive (losses) income, net of tax	(68)	(85)	(50)
Comprehensive income	$ 580	$ 495	$ 508

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions		Jun. 30, 2016	Jun. 30, 2015
Current assets
Cash and cash equivalents		$ 401	$ 382
Receivables, net		569	519
Inventories, net		443	385
Other current assets		72	143
Total current assets		1,485	1,429
Property, plant and equipment, net		906	918
Goodwill		1,197	1,067
Trademarks, net		657	535
Other intangible assets, net		78	50
Other assets		195	165
Total assets		4,518	4,164
Current liabilities
Notes and loans payable		523	95
Current maturities of long-term debt		0	300
Accounts payable and accrued liabilities	[1]	1,035	979
Income taxes payable		0	31
Total current liabilities		1,558	1,405
Long-term debt		1,797	1,796
Other liabilities		784	750
Deferred income taxes		82	95
Total liabilities		4,221	4,046
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 June 30, 2016 and 2015; and 129,355,263 and 128,614,310 shares outstanding as of June 30, 2016 and 2015, respectively		159	159
Additional paid-in capital		868	775
Retained earnings		2,163	1,923
Treasury shares, at cost: 29,386,198 and 30,127,151 shares as of June 30, 2016 and 2015, respectively		(2,323)	(2,237)
Accumulated other comprehensive net (losses) income		(570)	(502)
Stockholders' equity		297	118
Total liabilities and stockholders' equity		$ 4,518	$ 4,164
[1]	Accounts payable and accrued liabilities were combined into one financial statement line as of June 30, 2016. The change has been retrospectively applied to all periods presented.

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2016	Jun. 30, 2015
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 1	$ 1
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 1	$ 1
Common stock, shares authorized	750,000,000	750,000,000
Common stock, shares issued	158,741,461	158,741,461
Common stock, shares outstanding	129,355,263	128,614,310
Treasury stock, shares	29,386,198	30,127,151

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Millions	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Shares [Member]	Accumulated Other Comprehensive Net (Losses) Income [Member]	Total
Balance, amount at Jun. 30, 2013	$ 159	$ 661	$ 1,561	$ (1,868)	$ (367)	$ 146
Balance, shares at Jun. 30, 2013	158,741			(28,375)
Net earnings			558			558
Other comprehensive loss					(50)	(50)
Accrued dividends			(374)			(374)
Stock-based compensation		36				36
Other employee stock plan activities, amount		12	(6)	$ 92		98
Other employee stock plan activities, shares				1,476
Treasury stock purchased, amount				$ (260)		(260)
Treasury stock purchased, shares				(3,046)
Balance, amount at Jun. 30, 2014	$ 159	709	1,739	$ (2,036)	(417)	154
Balance, shares at Jun. 30, 2014	158,741			(29,945)
Net earnings			580			580
Other comprehensive loss					(85)	(85)
Accrued dividends			(391)			(391)
Stock-based compensation		32				32
Other employee stock plan activities, amount		34	(5)	$ 233		262
Other employee stock plan activities, shares				(4,198)
Treasury stock purchased, amount				$ (434)		(434)
Treasury stock purchased, shares				4,016
Balance, amount at Jun. 30, 2015	$ 159	775	1,923	$ (2,237)	(502)	118
Balance, shares at Jun. 30, 2015	158,741			(30,127)
Net earnings			648			648
Other comprehensive loss					(68)	(68)
Accrued dividends			(406)			(406)
Stock-based compensation		45				45
Other employee stock plan activities, amount		48	(2)	$ 168		214
Other employee stock plan activities, shares				2,892
Treasury stock purchased, amount				$ (254)		(254)
Treasury stock purchased, shares				(2,151)
Balance, amount at Jun. 30, 2016	$ 159	$ 868	$ 2,163	$ (2,323)	$ (570)	$ 297
Balance, shares at Jun. 30, 2016	158,741			(29,386)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Millions	12 Months Ended
	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)
Operating activities:
Net earnings	$ 648	$ 580	$ 558
Deduct: Losses from discontinued operations, net of tax	0	(26)	(21)
Earnings from continuing operations	648	606	579
Adjustments to reconcile earnings from continuing operations to net cash provided by continuing operations:
Depreciation and amortization	165	169	177
Stock-based compensation	45	32	36
Deferred income taxes	5	(16)	(21)
Settlement of interest rate forward contracts	0	(25)	0
Other	1	(17)	6
Changes in:
Receivables, net	(52)	6	20
Inventories, net	(45)	(25)	1
Other current assets	6	6	5
Accounts payable and accrued liabilities	57	93	(12)
Income taxes payable	(62)	29	(5)
Net cash provided by continuing operations	768	858	786
Net cash provided by (used for) discontinued operations	10	16	(19)
Net cash provided by operations	778	874	767
Investing activities:
Capital expenditures	(172)	(125)	(137)
Business acquired, net of cash acquired	(290)	0	0
Other	32	19	0
Net cash used for investing activities from continuing operations	(430)	(106)	(137)
Net cash used for investing activities by discontinued operations	0	0	(1)
Net cash used for investing activities	(430)	(106)	(138)
Financing activities:
Notes and loans payable, net	426	(48)	(60)
Long-term debt borrowings, net of issuance costs	0	495	0
Long-term debt repayments	(300)	(575)	0
Treasury stock purchased	(254)	(434)	(260)
Cash dividends paid	(398)	(385)	(368)
Issuance of common stock for employee stock plans and other	210	251	96
Net cash used for financing activities	(316)	(696)	(592)
Effect of exchange rate changes on cash and cash equivalents	(13)	(19)	(7)
Net increase in cash and cash equivalents	19	53	30
Cash and cash equivalents:
Beginning of year	382	329	299
End of year	401	382	329
Supplemental cash flow information:
Interest paid	79	104	76
Income taxes paid, net of refunds	323	236	312
Noncash financing activities:
Cash dividends declared and accrued, but not paid	$ 104	$ 99	$ 95

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations and Basis of Presentation The Company is principally engaged in the production, marketing and sales of consumer products through mass retail outlets and grocery, e-commerce channels, wholesale distributors and medical supply distributors. The consolidated financial statements include the statements of the Company and its wholly owned and controlled subsidiaries. All significant intercompany transactions and accounts were eliminated in consolidation. Certain prior year reclassifications were made in the consolidated financial statements and related notes to the consolidated financial statements to conform to the current year presentation. Effective September 22, 2014, the Company’s Venezuela affiliate, Corporación Clorox de Venezuela S.A. (Clorox Venezuela), discontinued its operations. Consequently, the Company presents the financial results of Clorox Venezuela as a discontinued operation in the consolidated financial statements for all periods presented herein. Use of Estimates The preparation of these consolidated financial statements in conformity with generally accepted accounting principles in the United States of America (U.S. GAAP) requires management to reach opinions as to estimates and assumptions that affect reported amounts and related disclosures. Specific areas requiring management’s opinion on estimates and judgments include assumptions pertaining to accruals for consumer and trade-promotion programs, stock-based compensation costs, pension and post-employment benefit costs, future cash flows associated with impairment testing of goodwill and other long-lived assets, the credit worthiness of customers, uncertain tax positions, tax valuation allowances and legal, environmental and insurance matters. Actual results could materially differ from estimates and assumptions made. Cash and Cash Equivalents Cash equivalents consist of highly liquid instruments, time deposits and money market funds with an initial maturity at purchase of three months or less. The fair value of cash and cash equivalents approximates the carrying amount. The Company’s cash position includes amounts held by foreign subsidiaries and, as a result, the repatriation of certain cash balances from some of the Company’s foreign subsidiaries could result in additional tax costs in the United States and in certain foreign jurisdictions. However, these cash balances are generally available without legal restriction to fund local business operations. In addition, a portion of the Company’s cash balance is held in U.S. dollars by foreign subsidiaries, whose functional currency is their local currency. Such U.S. dollar balances are reported on the foreign subsidiaries’ books, in their functional currency, with the impact from foreign currency exchange rate differences recorded in Other (income) expense, net. The Company’s cash holdings were as follows as of June 30: 2016 2015 U.S. dollar balances held by U.S. dollar functional currency subsidiaries and at parent $ 249 $ 221 Non-U.S. dollar balances held by non-U.S. dollar functional currency subsidiaries 133 142 U.S. dollar balances held by non-U.S. dollar functional currency subsidiaries 19 19 Non-U.S. dollar balances held by U.S. dollar functional currency subsidiaries - - Total $ 401 $ 382 As of June 30, 2016 and 2015, the Company had $4 and $3 of restricted cash, respectively, which is primarily related to fiscal year 2012 acquisitions. Restricted cash was included in Other assets as of June 30, 2016 and in Other current assets as of June 30, 2015. Inventories Inventories are stated at the lower of cost or market. When necessary, the Company provides allowances to adjust the carrying value of its inventory to the lower of cost or market, including any costs to sell or dispose. Appropriate consideration is given to obsolescence, excessive inventory levels, product deterioration and other factors in evaluating net realizable value for the purposes of determining the lower of cost or market. Property, Plant and Equipment and Finite-Lived Intangible Assets Property, plant and equipment and finite-lived intangible assets are stated at cost. Depreciation and amortization expense are calculated by the straight-line method using the estimated useful lives or lives determined by lease contracts for the related assets. The table below provides estimated useful lives of property, plant and equipment by asset classification. Estimated Useful Lives Buildings and leasehold improvements 10 - 40 years Land improvements 10 - 30 years Machinery and equipment 3 - 15 years Computer equipment 3 - 5 years Capitalized software costs 3 - 7 years Property, plant and equipment and finite-lived intangible assets are reviewed for impairment whenever events or changes in circumstances occur that indicate that the carrying amount of an asset (or asset group) may not be fully recoverable. The risk of impairment is initially assessed based on an estimate of the undiscounted cash flows at the lowest level for which identifiable cash flows exist. Impairment occurs when the carrying value of the asset exceeds the estimated future undiscounted cash flows generated by the asset. When impairment is indicated, an impairment charge is recorded for the difference between the carrying value of the asset and its estimated fair market value. Depending on the asset, estimated fair market value may be determined either by use of a discounted cash flow model or by reference to estimated selling values of assets in similar condition. Capitalization of Software Costs The Company capitalizes certain qualifying costs incurred in the acquisition and development of software for internal use, including the costs of the software, materials, consultants, interest and payroll and payroll-related costs for employees during the application development stage. Internal and external costs incurred during the preliminary project stage and post implementation-operation stage, mainly training and maintenance costs, are expensed as incurred. Once the application is substantially complete and ready for its intended use, qualifying costs are amortized on a straight-line basis over the software’s estimated useful life. Impairment Review of Goodwill and Indefinite-Lived Intangible Assets The Company tests its goodwill, trademarks with indefinite lives and other indefinite-lived intangible assets annually for impairment in the fiscal fourth quarter unless there are indications during a different interim period that these assets may have become impaired. With respect to goodwill, the Company has the option to first assess qualitative factors such as maturity and stability of the reporting unit, magnitude of excess fair value over carrying value from the prior year’s impairment testing, other reporting unit specific operating results as well as new events and circumstances impacting the operations at the reporting unit level. If the result of a qualitative test indicates a potential for impairment of a reporting unit, a quantitative test is performed. The quantitative test is a two-step process. In the first step, the Company compares the estimated fair value of the reporting unit to its carrying value. In all instances, the estimated fair value exceeded the carrying value of the reporting unit. Had the estimated fair value of any reporting unit been less than its carrying value, the Company would have performed a second step to determine the implied fair value of the reporting unit’s goodwill. If the carrying amount of a reporting unit’s goodwill had exceeded its implied fair value, an impairment charge would have been recorded for the difference between the carrying amount and the implied fair value of the reporting unit’s goodwill. To determine the fair value of a reporting unit as part of its quantitative test, the Company uses a discounted cash flow (DCF) approach, as it believes that this approach is the most reliable indicator of the fair value of its businesses and the fair value of their future earnings and cash flows. Under this approach, the Company estimates the future cash flows of each reporting unit and discounts these cash flows at a rate of return that reflects their relative risk. The cash flows used in the DCF are consistent with those the Company uses in its internal planning, which gives consideration to actual business trends experienced, and the broader business strategy for the long term. The other key estimates and factors used in the DCF include, but are not limited to, future sales volumes, revenue and expense growth rates, changes in working capital, foreign exchange rates, currency devaluation, inflation and a perpetuity growth rate. Changes in such estimates or the application of alternative assumptions could produce different results. For trademarks and other intangible assets with indefinite lives, the Company performs a quantitative analysis to test for impairment. When a quantitative test is performed, the estimated fair value of an asset is compared to its carrying amount. If the carrying amount of such asset exceeds its estimated fair value, an impairment charge is recorded for the difference between the carrying amount and the estimated fair value. The Company uses the income approach to estimate the fair value of its trademarks and other intangible assets with indefinite lives. This approach requires significant judgments in determining both the assets’ estimated cash flows as well as the appropriate discount and foreign exchange rates applied to those cash flows to determine fair value. Changes in such estimates or the use of alternative assumptions could produce different results. Stock-based Compensation The Company grants various nonqualified stock-based compensation awards to eligible employees, including stock options and performance units. For stock options, the Company estimates the fair value of each award on the date of grant using the Black-Scholes valuation model, which requires management to make estimates regarding expected option life, stock price volatility and other assumptions. Groups of employees that have similar historical exercise behavior are considered separately for valuation purposes. The Company estimates stock option forfeitures based on historical data for each employee grouping. The total number of stock options expected to vest is adjusted by actual and estimated forfeitures. Changes to the actual and estimated forfeitures will result in a cumulative catch-up adjustment in the period of change. Compensation expense is recorded by amortizing the grant date fair values on a straight-line basis over the vesting period, adjusted for estimated forfeitures. The Company’s performance unit grants provide for the issuance of common stock to certain managerial staff and executive management if the Company achieves specified performance targets. The number of shares issued are dependent upon vesting and the achievement of specified performance targets. The performance period is three years and the payout determination is made at the end of the three-year performance period. Performance unit grants receive dividends earned during the vesting period upon vesting. The fair value of each grant issued is estimated on the date of grant based on the current market price of the stock. The total amount of compensation expense recognized reflects estimated forfeiture rates and the initial assumption that performance goals will be achieved. Compensation expense is adjusted based on management’s assessment of the probability that performance goals will be achieved. If such goals are not met or it is determined that achievement of performance goals is not probable, previously recognized compensation expense is trued up in the current period to reflect the expected payout level. If it is determined that the performance goals will be exceeded, additional compensation expense is recognized, subject to a cap of 150%. Cash flows resulting from tax deductions in excess of the cumulative compensation cost recognized for stock-based payment arrangements (excess tax benefits) are primarily classified as financing cash inflows. Employee Benefits The Company accounts for its defined benefit retirement income and retirement health care plans using actuarial methods . The Company recognizes an actuarial-based obligation at the onset of disability for certain benefits provided to individuals after employment, but before retirement, that include medical, dental, vision, life and other benefits. Environmental Costs The Company is involved in certain environmental remediation and ongoing compliance activities. Accruals for environmental matters are recorded on a site-by-site basis when it is probable that a liability has been incurred and based upon a reasonable estimate of the liability. The Company’s accruals reflect the anticipated participation of other potentially responsible parties in those instances where it is probable that such parties are legally responsible and financially capable of paying their respective shares of the relevant costs. These accruals are adjusted periodically as assessment and remediation efforts progress or as additional technical or legal information become available. Actual costs to be incurred at identified sites in future periods may vary from the estimates, given the inherent uncertainties in evaluating environmental exposures. The accrual for environmental matters is included in Accounts payable and accrued liabilities and Other liabilities in the Company’s consolidated balance sheets on an undiscounted basis due to uncertainty regarding the timing of future payments. Revenue Recognition Sales are recognized as revenue when the risk of loss and title pass to the customer and when all of the following have occurred: a firm sales arrangement exists, pricing is fixed or determinable and collection is reasonably assured. Sales are recorded net of allowances for trade promotions, coupons, returns and other discounts. The Company routinely commits to one-time or ongoing trade-promotion programs with customers and consumer coupon programs that require the Company to estimate and accrue the expected costs of such programs. Programs include shelf price reductions, end-of-aisle or in-store displays of the Company’s products and graphics and other trade-promotion activities conducted by the customer. Coupons are recognized as a liability when distributed based upon expected consumer redemptions. The Company maintains liabilities related to these programs for the estimated expenses incurred, but not paid, at the end of each period. Trade-promotion and coupon redemption costs are recorded as a reduction of sales. The Company provides an allowance for doubtful accounts based on its historical experience and ongoing assessment of its customers’ credit risk. Receivables were presented net of an allowance for doubtful accounts of $5 and $4 as of June 30, 2016 and 2015, respectively. Receivables, net, included non-customer receivables of $9 and $12 as of June 30, 2016 and 2015, respectively. Cost of Products Sold Cost of products sold represents the costs directly related to the manufacture and distribution of the Company’s products and primarily includes raw materials, packaging, contract manufacturing fees, shipping and handling, warehousing, package design, depreciation, amortization, direct and indirect labor and operating costs for the Company’s manufacturing and distribution facilities including salary, benefit costs and incentive compensation, and royalties and other charges related to the Company’s Glad ® Costs associated with developing and designing new packaging are expensed as incurred and include design, artwork, films and labeling. Expenses for fiscal years ended June 30, 2016, 2015 and 2014 were $11, $11 and $12, respectively, all of which were reflected in Cost of products sold or discontinued operations, as appropriate, in the consolidated statements of earnings. Selling and Administrative Expenses Selling and administrative expenses represent costs incurred by the Company in generating revenues and managing the business and include market research, commissions and certain administrative expenses. Administrative expenses include salary, benefits, incentive compensation, professional fees and services, software and licensing fees and other operating costs associated with the Company’s non-manufacturing, non-research and development staff, facilities and equipment. Advertising and Research and Development Costs The Company expenses advertising and research and development costs in the period incurred. Income Taxes The Company uses the asset and liability method to account for income taxes. Deferred tax assets and liabilities are recognized for the anticipated future tax consequences attributable to differences between financial statement amounts and their respective tax basis. Management reviews the Company’s deferred tax assets to determine whether their value can be realized based upon available evidence. A valuation allowance is established when management believes that it is more likely than not that some portion of its deferred tax assets will not be realized. Changes in valuation allowances from period to period are included in the Company’s tax provision in the period of change. In addition to valuation allowances, the Company provides for uncertain tax positions when such tax positions do not meet certain recognition thresholds or measurement standards. Amounts for uncertain tax positions are adjusted in quarters when new information becomes available or when positions are effectively settled. U.S. income tax expense and foreign withholding taxes are provided on unremitted foreign earnings that are not indefinitely reinvested at the time the earnings are generated. Where foreign earnings are indefinitely reinvested, no provision for U.S. income or foreign withholding taxes is made. When circumstances change and the Company determines that some or all of the undistributed earnings will be remitted in the foreseeable future, the Company accrues an expense in the current period for U.S. income taxes and foreign withholding taxes attributable to the anticipated remittance. Foreign Currency Transactions and Translation Local currencies are the functional currencies for substantially all of the Company’s foreign operations. When the transactional currency is different than the functional currency, transaction gains and losses are included as a component of Other (income) expense, net. In addition, certain assets and liabilities denominated in currencies different than a foreign subsidiary’s functional currency are reported on the subsidiary’s books in its functional currency, with the impact from exchange rate differences recorded in Other (income) expense, net. Assets and liabilities of foreign operations are translated into U.S. dollars using the exchange rates in effect at the balance sheet date, while income and expenses are translated at the average monthly exchange rates during the year. Gains and losses on foreign currency translations are reported as a component of Other comprehensive income (loss). Deferred taxes are not provided on cumulative translation adjustments where the Company expects earnings of a foreign subsidiary to be indefinitely reinvested. The income tax effect of currency translation adjustments related to foreign subsidiaries and joint ventures for which earnings are not considered indefinitely reinvested is recorded as a component of deferred taxes with an offset to Other comprehensive income (loss). Derivative Instruments The Company’s use of derivative instruments, principally swaps, futures and forward contracts, is limited to non-trading purposes and is designed to partially manage exposure to changes in commodity prices, interest rates and foreign currencies. The Company’s contracts are hedges for transactions with notional amounts and periods consistent with the related exposures and do not constitute investments independent of these exposures. The changes in the fair value (i.e., gains or losses) of a derivative instrument are recorded as either assets or liabilities in the consolidated balance sheets with an offset to net earnings or Other comprehensive income (loss) depending on whether, for accounting purposes, it has been designated and qualifies as an accounting hedge and, if so, on the type of hedging relationship. The criteria used to determine if hedge accounting treatment is appropriate are: (a) formal designation and documentation of the hedging relationship, the risk management objective and hedging strategy at hedge inception; (b) eligibility of hedged items, transactions and corresponding hedging instrument; and (c) effectiveness of the hedging relationship both at inception of the hedge and on an ongoing basis in achieving the hedging objectives. For those derivative instruments designated and qualifying as hedging instruments, the Company must designate the hedging instrument either as a fair value hedge or as a cash flow hedge. The Company designates its commodity forward and future contracts for forecasted purchases of raw materials, interest rate forward contracts for forecasted interest payments, and foreign currency forward contracts for forecasted purchases of inventory as cash flow hedges. During the fiscal years ended June 30, 2016, 2015 and 2014, the Company had no hedging instruments designated as fair value hedges. For derivative instruments designated and qualifying as cash flow hedges, the effective portion of gains or losses is reported as a component of Other comprehensive income (loss) and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. From time to time, the Company may have contracts not designated as hedges for accounting purposes, for which it recognizes changes in the fair value in the consolidated statement of earnings in the current period. Cash flows from hedging activities are classified as operating activities in the consolidated statements of cash flows. Recently Issued Accounting Standards In March 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-09, “Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting,” which simplifies several aspects of the accounting for share-based payment transactions, including requiring excess tax benefits and deficiencies to be recognized as income tax benefit or expense in the consolidated statement of earnings and excess tax benefits and deficiencies to be classified as an operating activity in the consolidated statement of cash flows. The new guidance is effective for the Company beginning in the first quarter of fiscal year 2018, with early adoption permitted. The Company is planning to adopt the standard in the first quarter of fiscal year 2017. While the actual benefit realized may vary significantly given the inherent uncertainty in predicting future share-based transactions, the Company currently estimates that the adoption will result in approximately a 4 percentage point benefit to the Company’s historical effective tax rate of 34% to 35% for fiscal year 2017. In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842),” which requires lessees to recognize a right-of-use asset and lease liability for all leases with terms of more than 12 months. Recognition, measurement and presentation will depend on classification as a finance or operating lease. ASU 2016-02 also requires expanded disclosures about leasing arrangements. The new guidance is effective for the Company beginning in the first quarter of fiscal year 2020, with early adoption permitted. The Company is currently evaluating the impact that adoption of this guidance will have on its consolidated financial statements. In November 2015, the FASB issued ASU No. 2015-17, “Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes,” which requires all deferred tax liabilities and assets to be classified as noncurrent. The Company adopted the standard in the fourth quarter of fiscal year 2016 on a prospective basis as permitted. Prior period balances have not been retrospectively adjusted. In April 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2015-03, “Simplifying the Presentation of Debt Issuance Cost,” which requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The new guidance is effective for the Company beginning in the first quarter of fiscal year 2017, with early adoption permitted. The Company does not expect the adoption of this guidance will have a significant impact on its consolidated financial statements. In February 2015, the FASB issued ASU No. 2015-02, Amendments to the Consolidation Analysis,” which changes the guidance for evaluating whether to consolidate certain legal entities. The amendments modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities ("VIEs") or voting interest entities. The new guidance is effective for the Company beginning in the first quarter of fiscal year 2017, with early adoption permitted. The Company does not expect the adoption of this guidance will have a significant impact on its consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606),” which replaces most existing U.S. GAAP revenue recognition guidance and is intended to improve and converge with international standards the financial reporting requirements for revenue from contracts with customers. The core principle of ASU 2014-09 is that an entity should recognize revenue for the transfer of goods or services equal to the amount that it expects to be entitled to receive for those goods or services. ASU 2014-09 also requires additional disclosures about the nature, timing and uncertainty of revenue and cash flows arising from contracts with customers, including information about significant judgments and changes in judgments. The new guidance is effective for the Company beginning in the first quarter of fiscal year 2019, with the option to early adopt in the first quarter of fiscal year 2018. The Company is currently evaluating the impact that adoption of this guidance will have on its consolidated financial statements.

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS	12 Months Ended
	Jun. 30, 2016
Discontinued Operations and Disposal Groups [Abstract]
DISCONTINUED OPERATIONS	NOTE 2. DISCONTINUED OPERATIONS On September 22, 2014, Clorox Venezuela announced that it was discontinuing its operations, effective immediately, and seeking to sell its assets. Since fiscal year 2012, Clorox Venezuela was required to sell more than two thirds of its products at prices frozen by the Venezuelan government. During this same period, Clorox Venezuela experienced successive years of hyperinflation resulting in significant sustained increases in its input costs, including packaging, raw materials, transportation and wages. As a result, Clorox Venezuela had been selling its products at a loss, resulting in ongoing operating losses. Clorox Venezuela repeatedly met with government authorities in an effort to help them understand the rapidly declining state of the business, including the need for immediate, significant and ongoing price increases and other critical remedial actions to address these adverse impacts. Based on the Venezuelan government’s representations, Clorox Venezuela had expected significant price increases would be forthcoming much earlier; however, the price increases subsequently approved were insufficient and would have caused Clorox Venezuela to continue operating at a significant loss into the foreseeable future. As such, Clorox Venezuela was no longer financially viable and was forced to discontinue its operations. On September 26, 2014, the Company reported that Venezuelan Vice President Jorge Arreaza announced, with endorsement by President Nicolás Maduro, that the Venezuelan government had occupied the Santa Lucía and Guacara production facilities of Clorox Venezuela. On November 6, 2014, the Company reported that the Venezuelan government had published a resolution granting a government-sponsored Special Administrative Board full authority to restart and operate the business of Clorox Venezuela, thereby reaffirming the government's expropriation of Clorox Venezuela’s assets. Further, President Nicolás Maduro announced the government's intention to facilitate the resumed production of bleach and other cleaning products at Clorox Venezuela plants. He also announced his approval of a financial credit to invest in raw materials and production at the plants. These actions by the Venezuelan government were taken without the consent or involvement of Clorox Venezuela, its parent Clorox Spain S.L. (Clorox Spain) or any of their affiliates. Clorox Venezuela, Clorox Spain and their affiliates reserved their rights under all applicable laws and treaties. With this exit, the financial results of Clorox Venezuela are reflected as discontinued operations in the Company’s consolidated financial statements. The results of Clorox Venezuela have historically been part of the International reportable segment. Net sales for Clorox Venezuela were $0, $11 and $77 for the fiscal years ended June 30, 2016, 2015 and 2014, respectively. The following table provides a summary of gains (losses) from discontinued operations for Clorox Venezuela and gains (losses) from discontinued operations other than Clorox Venezuela for the years ended June 30: 2016 2015 2014 Operating losses from Clorox Venezuela before income taxes $ - $ (6 ) $ (23 ) Exit costs and other related expenses for Clorox Venezuela (2 ) (78 ) - Total losses from Clorox Venezuela before income taxes (2 ) (84 ) (23 ) Income tax benefit attributable to Clorox Venezuela 2 29 6 Total losses from Clorox Venezuela, net of tax - (55 ) (17 ) Gains (losses) from discontinued operations other than Clorox Venezuela, net of tax - 29 (4 ) Losses from discontinued operations, net of tax $ - $ (26 ) $ (21 ) Unrelated to Clorox Venezuela, in the fiscal year ended June 30, 2015, $32 of gross unrecognized tax benefits relating to other discontinued operations for periods prior to fiscal year 2015 were recognized upon the expiration of the applicable statute of limitations. Recognition of these previously disclosed tax benefits had no impact on the Company’s cash flow or earnings from continuing operations for the fiscal years ended June 30, 2015 and 2014. (See Note 18) Summary of Operating Losses, Asset Charges and Other Costs The following provides a breakdown of (losses) gains from discontinued operations for Clorox Venezuela and gains from discontinued operations other than Clorox Venezuela for the fiscal years ended June 30: 2016 2015 Operating losses from Clorox Venezuela before income taxes $ - $ (6 ) Net asset charges: Inventories - (11 ) Property, plant and equipment - (16 ) Trademark and other intangible assets - (6 ) Other assets - (2 ) Other exit and business termination costs: Severance - (3 ) Recognition of deferred foreign currency translation loss - (30 ) Other (2 ) (10 ) Total losses from Clorox Venezuela before income taxes (2 ) (84 ) Income tax benefit attributable to Clorox Venezuela 2 29 Total losses from Clorox Venezuela, net of tax - (55 ) Gains from discontinued operations other than Clorox Venezuela, net of tax - 29 Losses from discontinued operations, net of tax $ - $ (26 ) Prior to Clorox Venezuela being consolidated under the rules governing the preparation of financial statements in a highly inflationary economy, cumulative translation gains (losses) were included as a component of Accumulated other comprehensive net (losses) income. The charge of $30 to discontinued operations in September 2014 represents the recognition of these losses as a result of Clorox Venezuela discontinuing its operations effective September 22, 2014. Financial Reporting: Hyperinflation and the Selection of Exchange Rates Due to a sustained inflationary environment, the financial statements of Clorox Venezuela are consolidated under the rules governing the preparation of financial statements in a highly inflationary economy. As such, Clorox Venezuela’s non-U.S. dollar (non-USD) monetary assets and liabilities were remeasured into U.S. dollars (USD) each reporting period with the resulting gains and losses now reflected in discontinued operations. Subsequent to Clorox Venezuela discontinuing operations in September 2014, the Venezuelan government has continued to evolve its currency exchange mechanisms; however, these changes have not had a material impact on the Company’s financial results because the balance of net bolivar assets and liabilities on the local books of Clorox Venezuela was $0 as of both June 30, 2016 and 2015. As of June 30, 2016 and 2015, the local books of Clorox Venezuela carried a net asset position of $0. In addition, as of June 30, 2016 and 2015, the Company held $0 and $13, respectively, of tax asset balances related to Clorox Venezuela in Corporate in the reconciliation of the results of the Company’s reportable segments to consolidated results.

BUSINESSES ACQUIRED

BUSINESSES ACQUIRED	12 Months Ended
	Jun. 30, 2016
Business Combinations [Abstract]
BUSINESSES ACQUIRED	NOTE 3. BUSINESSES ACQUIRED On May 2, 2016, the Company acquired 100 percent of ReNew Life Holdings Corporation (Renew Life), a leading brand in digestive health. The amount paid was $290 funded through commercial paper. The amount paid of $290 represents the aggregate purchase price less cash acquired. The purchase of the Renew Life business reflects the Company’s strategy to acquire leading brands with attractive margins in growth categories. Results for Renew Life’s U.S. business are reflected in the Household reportable segment and results for Renew Life’s international business are reflected in the International reportable segment. Included in the Company’s results for fiscal year 2016 was $21 of Renew Life’s global net sales. The assets and liabilities of Renew Life were recorded at their respective estimated fair values as of the date of the acquisition using generally accepted accounting principles for business combinations. The excess of the purchase price over the fair value of the net identifiable assets acquired has been allocated to goodwill. Goodwill recorded primarily reflects the value of expanding the Company’s portfolio further into the health and wellness arena. The following table summarizes the estimated fair values of Renew Life’s assets acquired and liabilities assumed and related deferred income taxes as of the acquisition date. Due to the timing of the acquisition, the fair value of the assets acquired and liabilities assumed are based on a preliminary valuation and the Company’s estimates and assumptions are subject to change within the measurement period. The primary areas of the purchase price that are not yet finalized are related to goodwill and income taxes. The weighted-average estimated useful life of intangible assets subject to amortization is 15 years. 2016 Renew Life Goodwill $ 137 Trademarks 134 Customer relationships 36 Property, plant and equipment 3 Working capital, net 41 Deferred income taxes (61 ) Purchase Price $ 290 Pro forma results reflecting the acquisition were not presented because the acquisition did not meet the threshold requirements for additional disclosure.

INVENTORIES

INVENTORIES	12 Months Ended
	Jun. 30, 2016
Inventory Disclosure [Abstract]
INVENTORIES	NOTE 4. INVENTORIES Inventories consisted of the following as of June 30: 2016 2015 Finished goods $ 361 $ 316 Raw materials and packaging 111 101 Work in process 3 3 LIFO allowances (32 ) (35 ) Total $ 443 $ 385 The last-in, first-out (LIFO) method was used to value approximately 38% of inventories as of June 30, 2016 and 2015, respectively. The carrying values for all other inventories are determined on the first-in, first-out (FIFO) method. The effect on earnings of the liquidation of LIFO layers was a benefit of $0, $0 and $2 for the fiscal years ended June 30, 2016, 2015 and 2014, respectively.

OTHER CURRENT ASSETS

OTHER CURRENT ASSETS	12 Months Ended
	Jun. 30, 2016
OTHER CURRENT ASSETS [Abstract]
OTHER CURRENT ASSETS	NOTE 5. OTHER CURRENT ASSETS Other current assets consisted of the following as of June 30: 2016 2015 Deferred tax assets (a) $ - $ 99 Prepaid expenses 70 39 Other 2 5 Total $ 72 $ 143 (a)

PROPERTY, PLANT AND EQUIPMENT,

PROPERTY, PLANT AND EQUIPMENT, NET	12 Months Ended
	Jun. 30, 2016
Property, Plant and Equipment, Net [Abstract]
PROPERTY, PLANT AND EQUIPMENT, NET	NOTE 6. PROPERTY, PLANT AND EQUIPMENT, NET The components of property, plant and equipment, net, consisted of the following as of June 30: 2016 2015 Machinery and equipment $ 1,607 $ 1,608 Buildings 524 515 Capitalized software costs 368 371 Land and improvements 118 122 Construction in progress 112 65 Computer equipment 88 76 2,817 2,757 Less: Accumulated depreciation and amortization (1,911 ) (1,839 ) Total $ 906 $ 918 Included in Machinery and equipment above are $12 of capital leases as of June 30, 2016 and 2015, respectively. Accumulated depreciation for assets under capital leases was $3 and $2 as of June 30, 2016 and 2015, respectively. Included in Land and improvements above are $3 and $2 of asset retirement obligations as of June 30, 2016 and 2015, respectively, for two leased properties. The liability of $1 and $2 incurred in fiscal year 2016 and 2015, respectively, was recorded in Other liabilities. Depreciation and amortization expense related to property, plant and equipment, net, was $157, $157 and $161 in fiscal years 2016, 2015 and 2014, respectively, which includes depreciation of assets under capital leases. This also includes amortization of capitalized software of $16, $19 and $22 in fiscal years 2016, 2015 and 2014, respectively. Non-cash capital expenditures were $10, $18 and $0 in fiscal years 2016, 2015 and 2014, respectively.

GOODWILL, TRADEMARKS AND OTHER

GOODWILL, TRADEMARKS AND OTHER INTANGIBLE ASSETS	12 Months Ended
	Jun. 30, 2016
GOODWILL, TRADEMARKS AND OTHER INTANGIBLE ASSETS [Abstract]
GOODWILL, TRADEMARKS AND OTHER INTANGIBLE ASSETS	NOTE 7. GOODWILL, TRADEMARKS AND OTHER INTANGIBLE ASSETS The changes in the carrying amount of goodwill by reportable segment for the fiscal years ended June 30, 2016 and 2015 were as follows: Goodwill Cleaning Lifestyle Household International Total Balance June 30, 2014 $ 323 $ 244 $ 85 $ 449 $ 1,101 Effect of foreign currency translation - - - (34 ) (34 ) Balance June 30, 2015 323 244 85 415 1,067 Acquisition - - 122 15 137 Effect of foreign currency translation - - - (7 ) (7 ) Balance June 30, 2016 $ 323 $ 244 $ 207 $ 423 $ 1,197 The changes in the carrying amount of trademarks and other intangible assets for the fiscal years ended June 30 were as follows: As of June 30, 2016 As of June 30, 2015 Gross carrying amount Accumulated amortization Net carrying amount Gross carrying amount Accumulated amortization Net carrying amount Trademarks not subject to amortization $ 647 $ - $ 647 $ 524 $ - $ 524 Trademarks subject to amortization 32 22 10 33 22 11 Other intangible assets: Technology and product formulae 137 134 3 137 133 4 Other 221 146 75 188 142 46 Total $ 1,037 $ 302 $ 735 $ 882 $ 297 $ 585 Finite-lived intangible assets are amortized over their estimated useful lives, generally ranging from 2 to 30 years. Amortization expense relating to the Company’s intangible assets was $8, $12 and $15 for the years ended June 30, 2016, 2015 and 2014, respectively. Estimated amortization expense for these intangible assets is $10, $9, $9, $9 and $8 for fiscal years 2017, 2018, 2019, 2020 and 2021, respectively. During fiscal year 2016, the Company recognized $9 of intangible asset impairment charges, of which $6 related to the Aplicare ® ®

ACCOUNTS PAYABLE AND ACCRUED LI

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	12 Months Ended
	Jun. 30, 2016
Accounts Payable and Accrued Liabilities, Current [Abstract]
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	NOTE 8. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES Accounts payable and accrued liabilities consisted of the following as of June 30: 2016 2015 Accounts payable $ 490 $ 431 Compensation and employee benefit costs 192 189 Trade and sales promotion 127 115 Dividends 108 103 Other 118 141 Total (a) $ 1,035 $ 979 (a)

DEBT

DEBT	12 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
DEBT	NOTE 9. DEBT Notes and loans payable, which mature in less than one year, included the following as of June 30: 2016 2015 Commercial paper $ 522 $ 93 Foreign borrowings 1 2 Total $ 523 $ 95 The weighted average interest rates incurred on average outstanding notes and loans payable during the fiscal years ended June 30, 2016, 2015 and 2014, including fees associated with the Company’s undrawn revolving credit facility, were 1.10%, 2.05% and 0.97%, respectively. The weighted average effective interest rates on commercial paper balances as of June 30, 2016 and 2015 were 0.82% and 0.39%, respectively. Long-term debt, carried at face value net of unamortized discounts or premiums, included the following as of June 30: 2016 2015 Senior unsecured notes and debentures: 3.55%, $300 due November 2015 - 300 5.95%, $400 due October 2017 400 399 3.80%, $300 due November 2021 298 298 3.05%, $600 due September 2022 599 599 3.50%, $500 due December 2024 500 500 Total 1,797 2,096 Less: Current maturities of long-term debt - (300 ) Long-term debt $ 1,797 $ 1,796 The weighted average interest rates incurred on average outstanding long-term debt during the fiscal years ended June 30, 2016, 2015 and 2014, were 4.37%, 4.44% and 4.56%, respectively. The weighted average effective interest rates on long-term debt balances as of June 30, 2016 and 2015, were 4.41% and 4.31%, respectively. Long-term debt maturities as of June 30, 2016, are $0, $400, $0, $0, $0 and $1,400 in fiscal years 2017, 2018, 2019, 2020, 2021 and thereafter, respectively. In November 2015, $300 of the Company’s senior notes with an annual fixed interest rate of 3.55% became due and were repaid using commercial paper borrowings and cash on hand. In December 2014, under a shelf registration statement filed with the SEC that will expire in December 2017, the Company issued $500 of senior notes with an annual fixed interest rate of 3.50%. Interest on the notes is payable semi-annually in June and December and the notes have a maturity date of December 15, 2024. The notes carry an effective interest rate of 4.10%, which includes the impact from the settlement of interest rate forward contracts in December 2014 (see Note 11). The notes rank equally with all of the Company’s existing senior indebtedness. In January 2015, $575 of the Company’s senior notes with an annual fixed interest rate of 5.00% became due and were repaid using the net proceeds from the December 2014 debt issuance and commercial paper borrowings. The Company’s borrowing capacity under other financing arrangements as of June 30 was as follows: 2016 2015 Revolving credit facility $ 1,100 $ 1,100 Foreign credit lines 10 11 Other credit lines 18 18 Total $ 1,128 $ 1,129 As of June 30, 2016, the Company had a $1,100 revolving credit agreement (the Credit Agreement), which expires in October 2019. There were no borrowings under the Credit Agreement as of June 30, 2016 or 2015. The agreement includes certain restrictive covenants and limitations, with which the Company was in compliance as of June 30, 2016. Of the $28 of foreign and other credit lines as of June 30, 2016, $5 was outstanding and the remainder of $23 was available for borrowing. Of the $29 of foreign and other credit lines as of June 30, 2015, $4 was outstanding and the remainder of $25 was available for borrowing.

OTHER LIABILITIES

OTHER LIABILITIES	12 Months Ended
	Jun. 30, 2016
Other Liabilities Disclosure [Abstract]
OTHER LIABILITIES	NOTE 10. OTHER LIABILITIES Other liabilities consisted of the following as of June 30: 2016 2015 Employee benefit obligations $ 335 $ 299 Venture agreement terminal obligation, net 302 294 Taxes 40 38 Other 107 119 Total $ 784 $ 750 Venture Agreement The Company has an agreement with The Procter & Gamble Company (P&G) for the Company’s Glad ® ® ® Upon termination of the agreement, the Company is required to purchase P&G’s interest for cash at fair value as established by predetermined valuation procedures. As of June 30, 2016, the estimated fair value of P&G’s interest was $448, of which $302 has been recognized and is reflected in Other liabilities as noted in the table above. The difference between the estimated fair value and the amount recognized, and any future changes in the fair value of P&G’s interest, is charged to Cost of products sold on a straight-line basis over the remaining life of the agreement. Following termination, the Glad ® Deferred Gain on Sale-leaseback Transaction In December 2012, the Company completed a sale-leaseback transaction under which it sold its general office building in Oakland, CA to an unrelated third party for net proceeds of $108 and entered into a 15-year operating lease agreement with renewal options with the buyer for a portion of the building. The Company deferred recognition of the portion of the total gain on the sale that was equivalent to the present value of the lease payments and will continue to amortize such amount to earnings ratably over the lease term. As of June 30, 2016 and 2015, the long-term portion of the deferred gain of $36 and $40, respectively, was included in Other in the table above.

FINANCIAL INSTRUMENTS AND FAIR

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS	12 Months Ended
	Jun. 30, 2016
FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS [Abstract]
FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS	NOTE 11. FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS Financial assets and liabilities measured at fair value on a recurring basis in the 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. As of June 30, 2016 and 2015, the Company’s financial assets and liabilities that were measured at fair value on a recurring basis during the period included derivative financial instruments, which were classified as either Level 1 or Level 2, and trust assets to fund certain of the Company’s nonqualified deferred compensation plans, which were classified as Level 1. 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 commodity derivative dealers. As of June 30, 2016, the notional amount of commodity derivatives was $30, of which $16 related to jet fuel swaps and $14 related to soybean oil futures. As of June 30, 2015, the notional amount of commodity derivatives was $47, of which $27 related to jet fuel swaps and $20 related to soybean oil futures. 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 $84 and $105, respectively, as of June 30, 2016 and 2015. 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. The interest rate contracts are measured at fair value using information quoted by U.S. government bond dealers. During fiscal year 2015, the Company paid $25 to settle interest rate forward contracts related to the December 2014 issuance of $500 in senior notes. The settlement payments are reflected as operating cash flows in the consolidated statements of cash flows for the fiscal year ended June 30, 2015. The loss is reflected in Accumulated other comprehensive net loss on the consolidated balance sheets as of June 30, 2016 and 2015, and is being amortized into Interest expense on the consolidated statements of earnings over the 10-year term of the notes. The Company had no outstanding interest rate forward contracts as of June 30, 2016 and 2015. 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 instruments exceeds contractually defined counterparty liability position limits. Of the derivative instruments of $5 and $8 reflected in Accounts payable and accrued liabilities and Other liabilities as of June 30, 2016 and 2015, respectively, $4 and $8, respectively, contained such terms. As of both June 30, 2016 and 2015, 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, as assigned by Standard & Poor’s and Moody’s to the Company and its counterparties, 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 June 30, 2016 and 2015, the Company and each of its counterparties had been assigned investment grade 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 June 30, 2016 and 2015, the Company maintained cash margin balances related to exchange-traded futures contracts of $1 and $2, respectively, which are classified as Other current assets on the consolidated balance sheets. Trust Assets The Company has held interests in mutual funds and cash equivalents as part of trust assets related to certain of its nonqualified deferred compensation plans. The participants, who are the Company’s current and former employees, in the deferred compensation plans may select among certain mutual funds in which their compensation deferrals are invested in accordance with the terms of the plan 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 consolidated balance sheets. The interests in mutual funds are measured at fair value using quoted market prices. The Company has designated these marketable The value of the trust assets related to certain of the Company’s nonqualified deferred compensation plans increased by $14 as compared to June 30, 2015, primarily due to current year employees’ contributions to these plans. Fair Value of Financial Instruments The following table summarizes the fair value of Company’s assets and liabilities for which disclosure of fair value is required as of June 30: 2016 2015 Assets Balance sheet classification Fair value hierarchy level Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Investments including money market funds Cash and cash equivalents (a) 1 $ 234 $ 234 $ 212 $ 212 Time deposits Cash and cash equivalents (a) 2 79 79 84 84 Commodity purchase derivative contracts Other current assets 1 1 1 - - Foreign exchange derivative contracts Other current assets 2 1 1 1 1 Commodity purchase derivative contracts Other assets 2 1 1 - - Trust assets for nonqualified deferred compensation plans Other assets 1 52 52 38 38 $ 368 $ 368 $ 335 $ 335 Liabilities Notes and loans payable Notes and loans payable (b) 2 $ 523 $ 523 $ 95 $ 95 Commodity purchase derivative contracts Accounts payable and accrued liabilities 2 1 1 8 8 Foreign exchange derivative contracts Accounts payable and accrued liabilities 2 4 4 - - Current maturities of long-term debt and Long-term debt Current maturities of long- term debt and Long-term debt (c) 2 1,797 1,922 2,096 2,137 $ 2,325 $ 2,450 $ 2,199 $ 2,240 (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 loan payable is composed of U.S. commercial paper and/or other similar short-term debts 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. Derivatives The Company designates its commodity forward and future contracts for forecasted purchases of raw materials, interest rate forward contracts for forecasted interest payments, and foreign currency forward contracts for forecasted purchases of inventory as cash flow hedges. The effects of derivative instruments designated as hedging instruments on Other comprehensive income (loss) and net earnings were as follows during the fiscal years ended June 30: Gains (losses) recognized in other comprehensive net loss 2016 2015 2014 Commodity purchase derivative contracts $ (4 ) $ (13 ) $ 2 Interest rate derivative contracts - (12 ) (13 ) Foreign exchange derivative contracts (3 ) 7 (3 ) Total $ (7 ) $ (18 ) $ (14 ) Gains (losses) reclassified from accumulated other comprehensive net loss and recognized in net earnings 2016 2015 2014 Commodity purchase derivative contracts $ (13 ) $ (5 ) $ - Interest rate derivative contracts (6 ) (5 ) (4 ) Foreign exchange derivative contracts 1 3 4 Total $ (18 ) $ (7 ) $ - The gains (losses) reclassified from Accumulated other comprehensive net (losses) income and recognized in earnings during the fiscal years ended June 30, 2016, 2015 and 2014, for commodity purchase and foreign exchange contracts were included in Cost of products sold, and for interest rate contracts were included in Interest expense. The estimated amount of the existing net gain (loss) in Accumulated other comprehensive net (losses) income as of June 30, 2016, which is expected to be reclassified into earnings within the next twelve months, is $(11). Gains and losses on derivative instruments representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness are recognized in the consolidated statement of earnings. During each of the fiscal years ended June 30, 2016, 2015 and 2014, hedge ineffectiveness was not significant.

OTHER CONTINGENCIES AND GUARANT

OTHER CONTINGENCIES AND GUARANTEES	12 Months Ended
	Jun. 30, 2016
OTHER CONTINGENCIES AND GUARANTEES [Abstract]
OTHER CONTINGENCIES AND GUARANTEES	NOTE 12. OTHER CONTINGENCIES AND GUARANTEES Contingencies The Company is involved in certain environmental matters, including response actions at various locations. The Company had a recorded liability of $14 and $12 as of June 30, 2016 and 2015, respectively, for its share of aggregate future remediation costs related to these matters. One matter in Dickinson County, Michigan, for which the Company is jointly and severally liable, accounted for a substantial majority of the recorded liability as of both June 30, 2016 and 2015. The Company has agreed 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. Currently, the Company cannot accurately predict the timing of future payments that may be made under this obligation. In addition, the Company’s estimated loss exposure is sensitive to a variety of uncertain factors, including the efficacy of remediation efforts, changes in remediation requirements and the future availability of alternative clean-up technologies. Although it is reasonably possible that the Company’s exposure may exceed the amount recorded, any amount of such additional exposures, or range of exposures, is not estimable at this time. 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 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 consolidated financial statements taken as a whole. The Company had not recorded any liabilities on the aforementioned indemnifications as of June 30, 2016 and 2015. The Company was a party to letters of credit of $10 and $11 as of June 30, 2016 and 2015, respectively, primarily related to one of its insurance carriers, of which $0 had been drawn upon.

LEASES AND OTHER COMMITMENTS

LEASES AND OTHER COMMITMENTS	12 Months Ended
	Jun. 30, 2016
LEASES AND OTHER COMMITMENTS [Abstract]
LEASES AND OTHER COMMITMENTS	NOTE 13. LEASES AND OTHER COMMITMENTS The Company leases various property, plant, and equipment including office, warehousing, and manufacturing facilities, in addition to certain manufacturing and information technology equipment. The Company expects that, in the normal course of business, existing contracts will be renewed or replaced by other leases. Rental expense for all operating leases was $77, $76 and $71 in fiscal years 2016, 2015 and 2014, respectively. The future minimum annual lease commitments required under the Company’s existing non-cancelable operating and capital lease agreements as of June 30, 2016, were as follows: Year Operating leases Capital leases 2017 $ 49 $ 3 2018 45 2 2019 38 1 2020 32 - 2021 29 - Thereafter 135 - Total $ 328 $ 6 The Company is also a party to certain purchase obligations, which are defined as purchase agreements that are enforceable and legally binding and that contain specified or determinable significant terms, including quantity, price and the approximate timing of the transaction. Examples of the Company’s purchase obligations include contracts to purchase raw materials, commitments to contract manufacturers, commitments for information technology and related services, advertising contracts, capital expenditure agreements, software acquisition and license commitments and service contracts. The Company enters into purchase obligations based on expectations of future business needs. For purchase obligations subject to variable price and/or quantity provisions, an estimate of the price and/or quantity has been made. Many of these purchase obligations are short term in nature and are flexible to allow for changes in the Company’s business and related requirements. As of June 30, 2016, the Company’s purchase obligations were as follows: Year Purchase Obligations 2017 $ 150 2018 54 2019 37 2020 12 2021 2 Thereafter 1 Total $ 256

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	12 Months Ended
	Jun. 30, 2016
Stockholders' Equity Note [Abstract]
STOCKHOLDERS' EQUITY	NOTE 14. STOCKHOLDERS’ EQUITY The Company has two share repurchase programs: an open-market purchase program with an authorized aggregate purchase amount of up to $750, all of which was available for share repurchases as of both June 30, 2016 and 2015, and a program to offset the anticipated impact of share dilution related to share-based awards (the Evergreen Program), which has no authorization limit as to amount or timing of repurchases. Share repurchases under authorized programs were as follows during the fiscal years ended June 30: 2016 2015 2014 Amount Shares (in 000's) Amount Shares (in 000's) Amount Shares (in 000's) Open-market purchase programs $ - - $ - - $ - - Evergreen Program 254 2,151 434 4,016 260 3,046 Total $ 254 2,151 $ 434 4,016 $ 260 3,046 Dividends per share declared and paid, respectively, during the fiscal years ended June 30 were as follows: 2016 2015 2014 Dividends per share declared $ 3.11 $ 2.99 $ 2.87 Dividends per share paid 3.08 2.96 2.84 Accumulated Other Comprehensive Net (Losses) Income Changes in Accumulated other comprehensive net (losses) income by component were as follows for the fiscal years ended June 30: Foreign currency adjustments Net unrealized gains (losses) on derivatives Pension and postretirement benefit adjustments Accumulated Other Comprehensive Income Balance June 30, 2013 $ (209 ) $ (30 ) $ (128 ) $ (367 ) Other comprehensive (loss) income before reclassifications (26 ) (15 ) (16 ) (57 ) Amounts reclassified from accumulated other comprehensive net losses - - 8 8 Income tax benefit (expense) (11 ) 6 4 (1 ) Net current period other comprehensive income (loss) (37 ) (9 ) (4 ) (50 ) Balance June 30, 2014 (246 ) (39 ) (132 ) (417 ) Other comprehensive (loss) income before reclassifications (92 ) (18 ) (29 ) (139 ) Amounts reclassified from accumulated other comprehensive net losses - 7 - 7 Recognition of deferred foreign currency translation loss 30 - - 30 Income tax benefit (expense) 8 (3 ) 12 17 Net current period other comprehensive income (loss) (54 ) (14 ) (17 ) (85 ) Balance June 30, 2015 (300 ) (53 ) (149 ) (502 ) Other comprehensive (loss) income before reclassifications (43 ) (7 ) (38 ) (88 ) Amounts reclassified from accumulated other comprehensive net losses - 18 - 18 Income tax benefit (expense) (10 ) (2 ) 14 2 Net current period other comprehensive income (loss) (53 ) 9 (24 ) (68 ) Balance June 30, 2016 $ (353 ) $ (44 ) $ (173 ) $ (570 ) Included in foreign currency adjustments are re-measurement losses on long-term intercompany loans where settlement is not planned or anticipated in the foreseeable future. For the fiscal years ended June 30, 2016, 2015 and 2014, Other comprehensive losses on these loans totaled $14, $9 and $12, respectively, and there were no amounts reclassified from Accumulated other comprehensive net (losses) income. Pension and postretirement benefit reclassification adjustments are reflected in Cost of products sold, Selling and administrative expenses and Research and development costs.

NET EARNINGS PER SHARE (EPS)

NET EARNINGS PER SHARE (EPS)	12 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
NET EARNINGS PER SHARE (EPS)	NOTE 15. 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 for the fiscal years ended June 30: 2016 2015 2014 Basic 129,472 130,310 129,558 Dilutive effect of stock options and other 2,245 2,466 2,184 Diluted 131,717 132,776 131,742 Antidilutive stock options and other 42 23 -

STOCK-BASED COMPENSATION PLANS

STOCK-BASED COMPENSATION PLANS	12 Months Ended
	Jun. 30, 2016
Share-based Compensation [Abstract]
STOCK-BASED COMPENSATION PLANS	NOTE 16. STOCK-BASED COMPENSATION PLANS In November 2012, the Company’s stockholders voted to approve the amended and restated 2005 Stock Incentive Plan (the Plan). The Plan permits the Company to grant various nonqualified stock-based compensation awards, including stock options, restricted stock, performance units, deferred stock units, stock appreciation rights and other stock-based awards. The primary amendment reflected in the Plan was an increase of approximately 3 million common shares that may be issued for stock-based compensation purposes. As of June 30, 2016, the Company is authorized to grant up to approximately 8 million common shares under the Plan, and, as of June 30, 2016, approximately 8 million common shares were available for grant. Compensation cost and the related income tax benefit recognized for stock-based compensation plans were classified as indicated below for the fiscal years ended June 30: 2016 2015 2014 Cost of products sold $ 6 $ 4 $ 4 Selling and administrative expenses 35 25 29 Research and development costs 4 3 3 Total compensation cost $ 45 $ 32 $ 36 Related income tax benefit $ 17 $ 12 $ 13 Cash received during fiscal years 2016, 2015 and 2014 from stock options exercised under all stock-based payment arrangements was $180, $230 and $86, respectively. The Company issues shares for stock-based compensation plans from treasury stock. The Company may repurchase shares under its Evergreen Program to offset the estimated impact of share dilution related to stock-based awards (see Note 14). Details regarding the valuation and accounting for stock options, restricted stock awards, performance units and deferred stock units for non-employee directors follow. Stock Options The fair value of each stock option award granted during fiscal years 2016, 2015 and 2014 was estimated on the date of grant using the Black-Scholes valuation model and assumptions noted in the following table: 2016 2015 2014 Expected life 5.6 years 5.6 to 5.8 years 5.7 years Weighted-average expected life 5.6 years 5.7 years 5.7 years Expected volatility 16.43% to 17.3% 16.3% to 18.6% 18.4% to 18.5% Weighted-average volatility 17.2% 16.6% 18.5% Risk-free interest rate 1.3% to 1.7% 1.4% to 2.0% 1.8% to 1.9% Weighted-average risk-free interest rate 1.7% 1.9% 1.8% Dividend yield 2.5% to 2.8% 2.8% to 3.4% 3.4% Weighted-average dividend yield 2.8% 3.3% 3.4% The expected life of the stock options is based on observed historical exercise patterns. The expected volatility is based on implied volatility from publicly traded options on the Company’s stock at the date of grant, historical implied volatility of the Company’s publicly traded options and other factors. The risk-free interest rate is based on the implied yield on a U.S. Treasury zero-coupon issue with a remaining term equal to the expected term of the option. The dividend yield is based on the projected annual dividend payment per share, divided by the stock price at the date of grant. Details of the Company’s stock option activities are summarized below: Number of Shares (In thousands) Weighted- Average Exercise Price per Share Average Remaining Contractual Life Aggregate Intrinsic Value Options outstanding as of June 30, 2015 8,357 $ 76 7 years $ 236 Granted 1,317 112 Exercised (2,633 ) 69 Cancelled (214 ) 95 Options outstanding as of June 30, 2016 6,827 $ 85 7 years $ 366 Options vested as of June 30, 2016 3,555 $ 74 5 years $ 228 The weighted-average fair value per share of each option granted during fiscal years 2016, 2015 and 2014, estimated at the grant date using the Black-Scholes option pricing model was $13.21, $9.65 and $9.69, respectively. The total intrinsic value of options exercised in fiscal years 2016, 2015 and 2014 was $142, $140 and $42, respectively. Stock option awards outstanding as of June 30, 2016, have been granted at prices that are equal to the market value of the stock on the date of grant. Stock option grants generally vest over four years and expire no later than ten years after the grant date. The Company recognizes compensation expense ratably over the vesting period. As of June 30, 2016, there was $16 of total unrecognized compensation cost related to non-vested options, which is expected to be recognized over a remaining weighted-average vesting period of one year, subject to forfeiture changes. Restricted Stock Awards The fair value of restricted stock awards is estimated on the date of grant based on the market price of the stock and is amortized to compensation expense on a straight-line basis over the related vesting periods, which are generally three to four years. The total number of restricted stock awards expected to vest is adjusted by actual and estimated forfeitures. Restricted stock grants receive dividend distributions earned during the vesting period upon vesting. As of June 30, 2016, there was $1 of total unrecognized compensation cost related to non-vested restricted stock awards, which is expected to be recognized over a remaining weighted-average vesting period of one year. The total fair value of the shares that vested in each of the fiscal years 2016, 2015 and 2014 was $1, respectively. The weighted-average grant-date fair value of awards granted was $128.91, $95.67 and $89.25 per share for fiscal years 2016, 2015 and 2014, respectively. A summary of the status of the Company’s restricted stock awards is presented below: Number of Shares (In thousands) Weighted-Average Grant Date Fair Value per Share Restricted stock awards as of June 30, 2015 18 $ 91 Granted 5 129 Vested (9 ) 88 Forfeited (1 ) 106 Restricted stock awards as of June 30, 2016 13 $ 108 Performance Units As of June 30, 2016, there was $37 in unrecognized compensation cost related to non-vested performance unit grants that is expected to be recognized over a remaining weighted-average performance period of one year. The weighted-average grant-date fair value of awards granted was $92.35, $89.75 and $84.45 per share for fiscal years 2016, 2015 and 2014, respectively. A summary of the status of the Company’s performance unit awards is presented below: Number of Shares (In thousands) Weighted-Average Grant Date Fair Value per Share Performance unit awards as of June 30, 2015 1,123 $ 79 Granted 286 92 Distributed (377 ) 70 Forfeited (80 ) 87 Performance unit awards as of June 30, 2016 952 $ 90 Performance units vested and deferred as of June 30, 2016 157 $ 58 The non-vested performance units outstanding as of June 30, 2016 and 2015 were 794,000 and 944,000, respectively, and the weighted average grant date fair value was $95.18 and $81.92 per share, respectively. Total shares vested during fiscal year 2016 were 354,000, which had a weighted average grant date fair value per share of $72.11. During fiscal year 2016, $25 of the vested awards was paid by the issuance of shares and $1 of the vested awards was deferred. Deferred shares continue to earn dividends, which are also deferred. The total fair value of shares vested was $26, $24 and $0 during fiscal years 2016, 2015 and 2014, respectively. Upon vesting, the recipients of the grants receive the distribution as shares or, if previously elected by eligible recipients, as deferred stock. Deferred Stock Units for Nonemployee Directors Nonemployee directors receive annual grants of deferred stock units under the Company’s director compensation program and can elect to receive all or a portion of their annual retainers and fees in the form of deferred stock units. The deferred stock units receive dividend distributions, which are reinvested as deferred stock units, and are recognized at their fair value on the date of grant. Each deferred stock unit represents the right to receive one share of the Company’s common stock following the completion of a director’s service. During fiscal year 2016, the Company granted 13,000 deferred stock units, reinvested dividends of 6,000 units and distributed 16,000 shares, which had a weighted-average fair value on grant date of $126.65, $124.03 and $62.70 per share, respectively. As of June 30, 2016, 244,000 units were outstanding, which had a weighted-average fair value on the grant date of $71.13 per share.

OTHER (INCOME) EXPENSE, NET

OTHER (INCOME) EXPENSE, NET	12 Months Ended
	Jun. 30, 2016
Other Income and Expenses [Abstract]
OTHER (INCOME) EXPENSE, NET	NOTE 17. OTHER (INCOME) EXPENSE, NET The major components of Other (income) expense, net, for the fiscal years ended June 30 were: 2016 2015 2014 Income from equity investees $ (15 ) $ (14 ) $ (13 ) Interest income (5 ) (4 ) (3 ) Low income housing partnership gains, net - (13 ) - Foreign exchange transaction losses, net 1 9 1 Amortization of trademarks and other intangible assets 8 8 8 Intangible asset impairment charges 9 3 3 Other (5 ) (2 ) (6 ) Total $ (7 ) $ (13 ) $ (10 ) In April 2016, the Company sold its Los Angeles bleach manufacturing facility, previously reported in the Cleaning segment, which resulted in $20 in cash proceeds from investing activities and a gain of $(11) included in Other in the table above for the year ended June 30, 2016. During fiscal year 2016, the Company recognized $9 of intangible asset impairment charges, of which $6 related to the Aplicare ® ® Investment in Low-Income Housing Partnerships The Company owns, directly or indirectly, limited partnership interests in low-income housing partnerships, which are accounted for using the equity method of accounting. These partnerships are considered to be variable interest entities; however, the Company does not consolidate them because it does not have the power to direct the partnerships’ activities that significantly impact their economic performance. The purpose of the partnerships is to develop and operate low-income housing rental properties. The general partners, who typically hold 1% of the partnership interests, are third parties unrelated to the Company and its affiliates, and are responsible for controlling and managing the business and financial operations of the partnerships. As a limited partner, the Company is not responsible for any of the liabilities and obligations of the partnerships nor do the partnerships or their creditors have any recourse to the Company other than for the capital requirements. All available tax benefits from low-income housing tax credits provided by the partnerships were claimed as of fiscal year 2012. The risk that previously claimed low-income housing tax credits might be recaptured or otherwise retroactively invalidated is considered remote. In April 2015, a low-income housing partnership, in which the Company was a limited partner, sold its real estate holdings. The real property sale resulted in $15 in cash proceeds from investing activities and a gain of $(14) recorded to Other (income) expense, net, on the consolidated statement of earnings for the year ended June 30, 2015.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Jun. 30, 2016
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 18. INCOME TAXES The provision for income taxes on continuing operations, by tax jurisdiction, consisted of the following for the fiscal years ended June 30: 2016 2015 2014 Current Federal $ 254 $ 265 $ 247 State 31 28 34 Foreign 45 38 45 Total current 330 331 326 Deferred Federal 11 (13 ) (19 ) State 1 (1 ) 2 Foreign (7 ) (2 ) (4 ) Total deferred 5 (16 ) (21 ) Total $ 335 $ 315 $ 305 The components of earnings from continuing operations before income taxes, by tax jurisdiction, consisted of the following for the fiscal years ended June 30: 2016 2015 2014 United States $ 900 $ 829 $ 754 Foreign 83 92 130 Total $ 983 $ 921 $ 884 A reconciliation of the statutory federal income tax rate to the Company’s effective tax rate on continuing operations follows for the fiscal years ended June 30: 2016 2015 2014 Statutory federal tax rate 35.0 % 35.0 % 35.0 % State taxes (net of federal tax benefits) 2.1 2.1 2.6 Tax differential on foreign earnings 0.5 (0.3 ) (0.3 ) Domestic manufacturing deduction (2.4 ) (2.1 ) (2.3 ) Change in valuation allowance 0.5 0.6 0.6 Other differences (1.6 ) (1.1 ) (1.0 ) Effective tax rate 34.1 % 34.2 % 34.6 % Applicable U.S. income taxes and foreign withholding taxes have not been provided on approximately $216 of undistributed earnings of certain foreign subsidiaries as of June 30, 2016, because these earnings are considered indefinitely reinvested. The estimated net federal income tax liability that could arise if these earnings were not indefinitely reinvested is approximately $56. Applicable U.S. income and foreign withholding taxes are provided on these earnings in the periods in which they are no longer considered indefinitely reinvested. Tax benefits resulting from stock-based payment arrangements that are in excess of the tax benefits recorded in net earnings over the vesting period of those arrangements (excess tax benefits) are recorded as increases to Additional paid-in capital. Excess tax benefits of approximately $51, $42, and $11 were realized and recorded to Additional paid-in capital for fiscal years 2016, 2015 and 2014, respectively. The components of net deferred tax assets (liabilities) as of June 30 are shown below: 2016 2015 Deferred tax assets (a) Compensation and benefit programs $ 193 $ 191 Basis difference related to Venture Agreement 30 30 Accruals and reserves 34 43 Inventory costs 21 19 Net operating loss and tax credit carryforwards 48 41 Other 54 61 Subtotal 380 385 Valuation allowance (37 ) (34 ) Total deferred tax assets 343 351 Deferred tax liabilities (a) Fixed and intangible assets (325 ) (277 ) Low-income housing partnerships (23 ) (22 ) Unremitted foreign earnings (16 ) (7 ) Other (25 ) (24 ) Total deferred tax liabilities (389 ) (330 ) Net deferred tax assets (liabilities) $ (46 ) $ 21 (a) The Company periodically reviews its deferred tax assets for recoverability. A valuation allowance is established when the Company believes that it is more likely than not that some portion of its deferred tax assets will not be realized. Valuation allowances have been provided to reduce deferred tax assets to amounts considered recoverable. Details of the valuation allowance were as follows as of June 30: 2016 2015 Valuation allowance at beginning of year $ (34 ) $ (51 ) Net decrease/(increase) for other foreign deferred tax assets 3 15 Net decrease/(increase) for foreign net operating loss carryforwards and tax credits (6 ) 2 Valuation allowance at end of year $ (37 ) $ (34 ) As of June 30, 2016, the Company had foreign tax credit carryforwards of $15 for U.S. income tax purposes with expiration dates between fiscal years 2024 and 2025. Tax credit carryforwards in foreign jurisdictions of $19 have expiration dates in fiscal year 2031. Tax credit carryforwards in foreign jurisdictions of $1 can be carried forward indefinitely. Tax benefits from foreign net operating loss carryforwards of $16 have expiration dates between fiscal years 2017 and 2036. Tax benefits from foreign net operating loss carryforwards of $12 can be carried forward indefinitely. The Company files income tax returns in the U.S. federal and various state, local and foreign jurisdictions. The federal statute of limitations has expired for all tax years through June 30, 2012. Various income tax returns in state and foreign jurisdictions are currently in the process of examination. The Company recognizes interest and penalties related to uncertain tax positions as a component of income tax expense. As of June 30, 2016 and 2015, the total balance of accrued interest and penalties related to uncertain tax positions was $3 and $10, respectively. Interest and penalties related to uncertain tax positions included in income tax expense resulted in a net benefit of $1, a net benefit of $1, and a net expense of $3 in fiscal years 2016, 2015 and 2014, respectively. The following is a reconciliation of the beginning and ending amounts of the Company’s gross unrecognized tax benefits: 2016 2015 2014 Unrecognized tax benefits at beginning of year $ 38 $ 71 $ 69 Gross increases - tax positions in prior periods 3 3 3 Gross decreases - tax positions in prior periods (3 ) (8 ) (5 ) Gross increases - current period tax positions 8 6 7 Gross decreases - current period tax positions - - - Lapse of applicable statute of limitations (4 ) (34 ) (1 ) Settlements (5 ) - (2 ) Unrecognized tax benefits at end of year $ 37 $ 38 $ 71 Included in the balance of unrecognized tax benefits as of June 30, 2016, 2015 and 2014, are potential benefits of $27, $27 and $58, respectively, which if recognized, would affect net earnings. During the fiscal year ended June 30, 2015, $32 of gross unrecognized tax benefits relating to other discontinued operations for periods prior to fiscal year 2015 were recognized upon the expiration of the applicable statute of limitations. Recognition of these previously disclosed tax benefits had no impact on the Company’s cash flow or earnings from continuing operations for the fiscal years ended June 30, 2016, 2015 and 2014.

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	12 Months Ended
	Jun. 30, 2016
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]
EMPLOYEE BENEFIT PLANS	NOTE 19. EMPLOYEE BENEFIT PLANS Retirement Income Plans Effective July 1, 2011, and as part of a set of long-term, cost-neutral enhancements to the Company’s overall employee benefit plans, the domestic qualified retirement income pension plan was frozen for service accrual and eligibility purposes for most participants, however, interest credits have continued to accrue on participant balances. As of June 30, 2016 and 2015, the benefits of the domestic pension plan are based on either employee years of service and compensation or a stated dollar amount per year of service. The Company is the sole contributor to the plan in amounts deemed necessary to provide benefits and to the extent deductible for federal income tax purposes. Assets of the plan consist primarily of investments in cash equivalents and common collective trusts. The Company contributed $15 to its domestic qualified pension plan during fiscal year 2016. No contributions were made in fiscal year 2015 and 2014. The Company’s funding policy for its qualified plans is to contribute amounts sufficient to meet minimum funding requirements as set forth in employee benefit tax laws plus additional amounts as the Company may determine to be appropriate. Subsequent to June 30, 2016, the Company made a $15 discretionary contribution to the pension plan. Contributions made to the domestic non-qualified pension plans were $16, $13 and $13 in fiscal years 2016, 2015 and 2014, respectively. Retirement Health Care Plans The Company provides certain health care benefits for employees who meet age, participation and length of service requirements at retirement. The plans pay stated percentages of covered expenses after annual deductibles have been met or stated reimbursements up to a specified dollar subsidy amount. Benefits paid take into consideration payments by Medicare for the domestic plan. The plans are funded as claims are paid, and the Company has the right to modify or terminate certain plans. The assumed domestic health care cost trend rate used in measuring the accumulated benefit obligation (ABO) was 6.75% for both medical and prescription drugs for fiscal year 2016. These rates have been assumed to gradually decrease each year until an assumed ultimate trend of 4.5% is reached in 2037. The health care cost trend rate assumption has a minimal effect on the amounts reported due primarily to the existence of benefit cap provisions in the Company’s domestic plan. As such, the effect of a hypothetical 100 basis point increase or decrease in the assumed domestic health care cost trend rate on the total service and interest cost components as well as the postretirement benefit obligation would have been immaterial for each of the fiscal years ended June 30, 2016, 2015 and 2014. Financial Information Related to Retirement Income and Retirement Health Care Summarized information for the Company’s retirement income and retirement health care plans as of and for the fiscal years ended June 30 is as follows: Retirement Income Retirement Health Care 2016 2015 2016 2015 Change in benefit obligations: Projected benefit obligation as of beginning of year $ 639 $ 641 $ 45 $ 49 Service cost 1 2 - - Interest cost 26 25 2 2 Actuarial loss (gain) 51 14 2 - Plan amendments (1 ) - - (1 ) Translation and other adjustments (1 ) (5 ) - (2 ) Benefits paid (42 ) (38 ) (2 ) (3 ) Projected benefit obligation as of end of year 673 639 47 45 Change in plan assets: Fair value of assets as of beginning of year $ 409 $ 432 $ - $ - Actual return on plan assets 26 6 - - Employer contributions 31 13 2 3 Benefits paid (42 ) (38 ) (2 ) (3 ) Translation and other adjustments (1 ) (4 ) - - Fair value of plan assets as of end of year 423 409 - - Accrued benefit cost, net funded status $ (250 ) $ (230 ) $ (47 ) $ (45 ) Amount recognized in the balance sheets consists of: Pension benefit assets $ 1 $ 2 $ - $ - Current accrued benefit liability (14 ) (16 ) (3 ) (3 ) Non-current accrued benefit liability (237 ) (216 ) (44 ) (42 ) Accrued benefit cost, net $ (250 ) $ (230 ) $ (47 ) $ (45 ) Retirement income plans with ABO in excess of plan assets as of June 30 were as follows: Pension Plans Other Retirement Plans 2016 2015 2016 2015 Projected benefit obligation $ 575 $ 538 $ 76 $ 80 Accumulated benefit obligation 574 538 76 80 Fair value of plan assets 399 385 - - The ABO for all pension plans was $596, $559 and $563 as of June 30, 2016, 2015 and 2014, respectively. The net costs of the retirement income and health care plans for the fiscal years ended June 30 included the following components: Retirement Income Retirement Health Care 2016 2015 2014 2016 2015 2014 Service cost $ 1 $ 2 $ 3 $ - $ - $ 1 Interest cost 26 25 27 2 2 2 Expected return on plan assets (17 ) (20 ) (25 ) - - - Amortization of unrecognized items 10 12 11 (3 ) 2 (4 ) Total $ 20 $ 19 $ 16 $ (1 ) $ 4 $ (1 ) Items not yet recognized as a component of postretirement expense as of June 30, 2016, consisted of: Retirement Income Retirement Health Care Net actuarial loss (gain) $ 296 $ (13 ) Prior service benefit - (6 ) Net deferred income tax (assets) liabilities (111 ) 7 Accumulated other comprehensive loss (income) $ 185 $ (12 ) Net actuarial loss (gain) recorded in Accumulated other comprehensive net (losses) income for the fiscal year ended June 30, 2016, included the following: Retirement Income Retirement Health Care Net actuarial loss (gain) as of beginning of year $ 264 $ (17 ) Amortization during the year (10 ) 2 Loss (gain) during the year 42 2 Net actuarial loss (gain) as of end of year $ 296 $ (13 ) The Company uses the straight-line amortization method for unrecognized prior service costs and benefits. In fiscal year 2017, the Company expects to recognize, on a pre-tax basis, $11 of the net actuarial loss as a component of net periodic benefit cost for the Pension Plans. In addition, in fiscal year 2017, the Company expects to recognize, on a pre-tax basis, $1 of the net actuarial gain as a component of net periodic benefit cost for the retirement health care plans. Weighted-average assumptions used to estimate the actuarial present value of benefit obligations as of June 30 were as follows: Retirement Income Retirement Health Care 2016 2015 2016 2015 Discount rate 3.42 % 4.20 % 3.42 % 4.16 % Rate of compensation increase 2.92 % 3.37 % n/a n/a Weighted-average assumptions used to estimate the net periodic pension and other postretirement benefit costs as of June 30 were as follows: Retirement Income 2016 2015 2014 Discount rate 4.20 % 4.05 % 4.39 % Rate of compensation increase 3.37 % 4.46 % 3.44 % Expected return on plan assets 4.34 % 5.28 % 6.61 % Retirement Health Care 2016 2015 2014 Discount rate 4.16 % 4.00 % 4.33 % The expected long-term rate of return assumption is based on an analysis of historical experience of the portfolio and the summation of prospective returns for each asset class in proportion to the fund’s current asset allocation. Expected benefit payments for the Company’s pension and other postretirement plans as of June 30, 2016, were as follows: Retirement Income Retirement Health Care 2017 $ 39 $ 3 2018 52 3 2019 39 3 2020 39 2 2021 39 2 Fiscal years 2022 through 2026 193 12 Expected benefit payments are based on the same assumptions used to measure the benefit obligations and include estimated future employee service. The target allocations and weighted average asset allocations by asset category of the investment portfolio for the Company’s domestic retirement income plans as of June 30 were: % Target Allocation % of Plan Assets 2016 2015 2016 2015 U.S. equity 11 % 11 % 11 % 11 % International equity 12 12 11 12 Fixed income 74 74 74 74 Other 3 3 4 3 Total 100 % 100 % 100 % 100 % The target asset allocation is determined based on the optimal balance between risk and return and, at times, may be adjusted to achieve the plan’s overall investment objective to generate sufficient resources to pay current and projected plan obligations over the life of the domestic qualified retirement income plan. The following table sets forth by level within the fair value hierarchy, the retirement income plans’ assets carried at fair value as of June 30: 2016 Level 1 Level 2 Total Cash equivalents $ 2 $ - $ 2 Common collective trusts Bond funds - 307 307 International equity funds - 56 56 Domestic equity funds - 44 44 Real estate fund - 14 14 Total common collective trusts - 421 421 Total assets at fair value $ 2 $ 421 $ 423 2015 Level 1 Level 2 Total Cash equivalents $ 3 $ - $ 3 Common collective trusts Bond funds - 295 295 International equity funds - 59 59 Domestic equity funds - 41 41 Real estate fund - 11 11 Total common collective trusts - 406 406 Total assets at fair value $ 3 $ 406 $ 409 The carrying value of cash equivalents approximates its fair value as of June 30, 2016 and 2015. Common collective trust funds are not publicly traded and, therefore, are classified as Level 2. They are valued at a net asset value unit price determined by the portfolio’s sponsor based on the fair value of underlying assets held by the common collective trust fund on June 30, 2016 and 2015. The common collective trusts are invested in various trusts that attempt to achieve their investment objectives by investing primarily in other collective investment funds which have characteristics consistent with each trust’s overall investment objective and strategy. Defined Contribution Plans The Company has defined contribution plans for most of its domestic employees. The plans include The Clorox Company 401(k) Plan, The Clorox Company 2011 Nonqualified Defined Contribution Plan and the Executive Retirement Plan. The aggregate cost of the domestic defined contribution plans was $45, $45 and $43 in fiscal years 2016, 2015 and 2014, respectively. Included in the aggregate cost was the cost of The Clorox Company 401(k) Plan of $41, $42 and $38 in fiscal years 2016, 2015 and 2014, respectively. The Company also has defined contribution plans for certain international employees. The aggregate cost of these foreign plans was $3 for the fiscal years ended June 30, 2016, 2015 and 2014.

SEGMENT REPORTING

SEGMENT REPORTING	12 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
SEGMENT REPORTING	NOTE 20. SEGMENT REPORTING The Company operates through strategic business units that are aggregated into the following four reportable segments based on the economics and nature of the products sold: ● Cleaning consists of laundry, home care and professional products marketed and sold in the United States. Products within this segment include laundry additives, including bleach products under the Clorox ® ® ® ® ® ® ® ® ® ® ® ® ® ® ● Household consists of charcoal, cat litter, digestive health products and bags, wraps and container products marketed and sold in the United States. Products within this segment include charcoal products under the Kingsford ® ® ® ® ® ® ® ● Lifestyle consists of food products, water-filtration systems and filters and natural personal care products marketed and sold in the United States. Products within this segment include dressings and sauces, primarily under the Hidden Valley ® ® ® ® ® ● International consists of products sold outside the United States. Products within this segment include laundry, home care, water-filtration, digestive health products, charcoal and cat litter products, dressings and sauces, bags, wraps and containers and natural personal care products, primarily under the Clorox ® ® ® ® ® ® ® ® ® ® ® ® ® ® ® ® ® ® ® ® ® ® ® 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, property and equipment, other investments and deferred taxes. Fiscal Year Cleaning Household Lifestyle International Corporate Total Company Net sales 2016 $ 1,912 $ 1,862 $ 990 $ 997 $ $ 5,761 2015 1,824 1,794 950 1,087 - 5,655 2014 1,776 1,709 936 1,093 - 5,514 Earnings (losses) from continuing operations before income taxes 2016 511 428 251 66 (273 ) 983 2015 445 375 257 79 (235 ) 921 2014 428 326 258 99 (227 ) 884 Income from equity investees 2016 - - - 15 - 15 2015 - - - 14 - 14 2014 - - - 13 - 13 Total assets 2016 883 1,092 880 1,057 606 4,518 2015 876 725 860 1,057 646 4,164 Capital expenditures 2016 44 83 18 24 3 172 2015 35 50 11 25 4 125 2014 37 53 11 31 5 137 Depreciation and amortization 2016 61 60 19 21 4 165 2015 52 67 19 24 7 169 2014 49 67 19 25 17 177 Significant noncash charges included in earnings (losses) from continuing operations before income taxes: Share-based compensation 2016 10 8 5 1 21 45 2015 8 7 4 1 12 32 2014 11 9 5 1 10 36 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, Walmart Stores, Inc. and its affiliates, were 27%, 26% and 27% of consolidated net sales for each of the fiscal years ended June 30, 2016, 2015 and 2014, respectively, and occurred in each of the Company’s reportable segments. No other customers accounted for more than 10% of consolidated net sales in any of these fiscal years. During fiscal years 2016, 2015 and 2014, the Company’s five largest customers accounted for 46%, 45%, and 45% of its consolidated net sales for each of the three fiscal years, respectively. Three of the Company’s product lines have accounted for 10% or more of consolidated net sales during each of the past three fiscal years. In fiscal years 2016, 2015 and 2014, sales of liquid bleach represented approximately 13%, 14% and 13% of the Company’s consolidated net sales, respectively, approximately 25%, 26%, and 26% of net sales in the Cleaning segment for each such years, respectively, and approximately 27%, 27% and 28% of net sales in the International segment, respectively. Sales of trash bags represented approximately 13%, 14% and 13% of the Company’s consolidated net sales in each of the fiscal years 2016, 2015 and 2014, respectively, and approximately 37%, 38% and 36% of net sales in the Household segment, respectively, for each such years. Sales of charcoal represented approximately 11% of the Company’s consolidated net sales and approximately 34% of net sales in the Household segment in fiscal years 2016, 2015 and 2014. Net sales and property, plant and equipment, net, by geographic area as of and for the fiscal years ended June 30 were as follows: Fiscal Year United States Foreign Total Company Net sales 2016 $ 4,805 $ 956 $ 5,761 2015 4,609 1,046 5,655 2014 4,466 1,048 5,514 Property, plant and equipment, net 2016 $ 799 $ 107 $ 906 2015 801 117 918

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Jun. 30, 2016
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 21. RELATED PARTY TRANSACTIONS The Company holds various equity investments with ownership percentages of up to 50% in a number of consumer products businesses, most of which operate outside the United States. The equity investments, presented in Other assets accounted for under the equity method, were $59 as of the fiscal years ended June 30, 2016 and 2015. The Company has no ongoing capital commitments, loan requirements, guarantees or any other types of arrangements under the terms of its agreements that would require any future cash contributions or disbursements arising out of an equity investment. Transactions with the Company’s equity investees typically represent payments for contract manufacturing and purchases of raw materials. Payments to related parties, including equity investees, for such transactions during the fiscal years ended June 30, 2016, 2015 and 2014 were $57, $55 and $57, respectively. Receipts from and ending accounts receivable and payable balances related to the Company’s related parties were not significant during or as of the end of each of the fiscal years presented.

UNAUDITED QUARTERLY DATA

UNAUDITED QUARTERLY DATA	12 Months Ended
	Jun. 30, 2016
Quarterly Financial Data [Abstract]
UNAUDITED QUARTERLY DATA	NOTE 22. UNAUDITED QUARTERLY DATA Dollars in millions, except market price and per share data Quarters Ended September 30 December 31 March 31 June 30 Total Year Fiscal year ended June 30, 2016 Net sales $ 1,390 $ 1,345 $ 1,426 $ 1,600 $ 5,761 Cost of products sold 765 745 780 873 3,163 Earnings from continuing operations 173 151 159 165 648 (Losses) earnings from discontinued operations, net of tax (1 ) (2 ) 3 - - Net earnings 172 149 162 165 648 Per common share: Basic Continuing operations $ 1.34 $ 1.16 $ 1.23 $ 1.28 $ 5.01 Discontinued operations (0.01 ) (0.01 ) 0.02 - - Basic net earnings per share $ 1.33 $ 1.15 $ 1.25 $ 1.28 $ 5.01 Diluted Continuing operations $ 1.32 $ 1.14 $ 1.21 $ 1.26 $ 4.92 Discontinued operations (0.01 ) (0.01 ) 0.02 - - Diluted net earnings per share $ 1.31 $ 1.13 $ 1.23 $ 1.26 $ 4.92 Dividends declared per common share $ 0.77 $ 0.77 $ 0.77 $ 0.80 $ 3.11 Market price (NYSE) High $ 119.75 $ 131.78 132.19 $ 138.41 $ 138.41 Low 104.26 114.06 122.40 119.23 104.26 Year-end 138.39 Fiscal year ended June 30, 2015 Net sales $ 1,352 $ 1,345 $ 1,401 $ 1,557 $ 5,655 Cost of products sold 774 773 796 847 3,190 Earnings from continuing operations 145 128 144 189 606 Losses from discontinued operations, net of tax (55 ) (3 ) 30 2 (26 ) Net earnings 90 125 174 191 580 Per common share: Basic Continuing operations $ 1.12 $ 0.98 $ 1.09 $ 1.46 $ 4.65 Discontinued operations (0.42 ) (0.02 ) 0.22 0.02 (0.20 ) Basic net earnings per share $ 0.70 $ 0.96 $ 1.31 $ 1.48 $ 4.45 Diluted Continuing operations $ 1.10 $ 0.97 $ 1.08 $ 1.44 $ 4.57 Discontinued operations (0.42 ) (0.02 ) 0.22 0.02 (0.20 ) Diluted net earnings per share $ 0.68 $ 0.95 $ 1.30 $ 1.46 $ 4.37 Dividends declared per common share $ 0.74 $ 0.74 $ 0.74 $ 0.77 $ 2.99 Market price (NYSE) High $ 112.70 $ 112.65 $ 106.36 $ 98.31 $ 112.70 Low 103.77 102.95 95.19 86.03 86.03 Year-end 104.02

VALUATION AND QUALIFYING ACCOUN

VALUATION AND QUALIFYING ACCOUNTS AND RESERVES	12 Months Ended
	Jun. 30, 2016
Valuation and Qualifying Accounts [Abstract]
VALUATION AND QUALIFYING ACCOUNTS AND RESERVES	VALUATION AND QUALIFYING ACCOUNTS AND RESERVES (Dollars in millions) Column A Column B Column C Column D Column E Additions Deductions Description Balance at beginning of period Charged to costs and expenses Credited to costs and expenses Credited to other accounts Balance at end of period Allowance for doubtful accounts Year ended June 30, 2016 $ (4 ) $ (1 ) $ - $ - $ (5 ) Year ended June 30, 2015 (3 ) (1 ) - - (4 ) Year ended June 30, 2014 (5 ) - 2 - (3 ) LIFO allowance Year ended June 30, 2016 $ (34 ) $ (1 ) $ - $ 3 $ (32 ) Year ended June 30, 2015 (36 ) - - 2 (34 ) Year ended June 30, 2014 (40 ) - 3 1 (36 ) Valuation allowance on deferred tax assets Year ended June 30, 2016 $ (34 ) $ (5 ) $ - $ 2 $ (37 ) Year ended June 30, 2015 (51 ) (4 ) - 21 (34 ) Year ended June 30, 2014 (36 ) (25 ) - 10 (51 )

SUMMARY OF SIGNIFICANT ACCOUN31

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Nature of Operations and Basis of Presentation	Nature of Operations and Basis of Presentation The Company is principally engaged in the production, marketing and sales of consumer products through mass retail outlets and grocery, e-commerce channels, wholesale distributors and medical supply distributors. The consolidated financial statements include the statements of the Company and its wholly owned and controlled subsidiaries. All significant intercompany transactions and accounts were eliminated in consolidation. Certain prior year reclassifications were made in the consolidated financial statements and related notes to the consolidated financial statements to conform to the current year presentation. Effective September 22, 2014, the Company’s Venezuela affiliate, Corporación Clorox de Venezuela S.A. (Clorox Venezuela), discontinued its operations. Consequently, the Company presents the financial results of Clorox Venezuela as a discontinued operation in the consolidated financial statements for all periods presented herein.
Use of Estimates	Use of Estimates The preparation of these consolidated financial statements in conformity with generally accepted accounting principles in the United States of America (U.S. GAAP) requires management to reach opinions as to estimates and assumptions that affect reported amounts and related disclosures. Specific areas requiring management’s opinion on estimates and judgments include assumptions pertaining to accruals for consumer and trade-promotion programs, stock-based compensation costs, pension and post-employment benefit costs, future cash flows associated with impairment testing of goodwill and other long-lived assets, the credit worthiness of customers, uncertain tax positions, tax valuation allowances and legal, environmental and insurance matters. Actual results could materially differ from estimates and assumptions made.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash equivalents consist of highly liquid instruments, time deposits and money market funds with an initial maturity at purchase of three months or less. The fair value of cash and cash equivalents approximates the carrying amount. The Company’s cash position includes amounts held by foreign subsidiaries and, as a result, the repatriation of certain cash balances from some of the Company’s foreign subsidiaries could result in additional tax costs in the United States and in certain foreign jurisdictions. However, these cash balances are generally available without legal restriction to fund local business operations. In addition, a portion of the Company’s cash balance is held in U.S. dollars by foreign subsidiaries, whose functional currency is their local currency. Such U.S. dollar balances are reported on the foreign subsidiaries’ books, in their functional currency, with the impact from foreign currency exchange rate differences recorded in Other (income) expense, net. The Company’s cash holdings were as follows as of June 30: 2016 2015 U.S. dollar balances held by U.S. dollar functional currency subsidiaries and at parent $ 249 $ 221 Non-U.S. dollar balances held by non-U.S. dollar functional currency subsidiaries 133 142 U.S. dollar balances held by non-U.S. dollar functional currency subsidiaries 19 19 Non-U.S. dollar balances held by U.S. dollar functional currency subsidiaries - - Total $ 401 $ 382 As of June 30, 2016 and 2015, the Company had $4 and $3 of restricted cash, respectively, which is primarily related to fiscal year 2012 acquisitions. Restricted cash was included in Other assets as of June 30, 2016 and in Other current assets as of June 30, 2015.
Inventories	Inventories Inventories are stated at the lower of cost or market. When necessary, the Company provides allowances to adjust the carrying value of its inventory to the lower of cost or market, including any costs to sell or dispose. Appropriate consideration is given to obsolescence, excessive inventory levels, product deterioration and other factors in evaluating net realizable value for the purposes of determining the lower of cost or market.
Property, Plant and Equipment and Finite-Lived Intangible Assets	Property, Plant and Equipment and Finite-Lived Intangible Assets Property, plant and equipment and finite-lived intangible assets are stated at cost. Depreciation and amortization expense are calculated by the straight-line method using the estimated useful lives or lives determined by lease contracts for the related assets. The table below provides estimated useful lives of property, plant and equipment by asset classification. Estimated Useful Lives Buildings and leasehold improvements 10 - 40 years Land improvements 10 - 30 years Machinery and equipment 3 - 15 years Computer equipment 3 - 5 years Capitalized software costs 3 - 7 years Property, plant and equipment and finite-lived intangible assets are reviewed for impairment whenever events or changes in circumstances occur that indicate that the carrying amount of an asset (or asset group) may not be fully recoverable. The risk of impairment is initially assessed based on an estimate of the undiscounted cash flows at the lowest level for which identifiable cash flows exist. Impairment occurs when the carrying value of the asset exceeds the estimated future undiscounted cash flows generated by the asset. When impairment is indicated, an impairment charge is recorded for the difference between the carrying value of the asset and its estimated fair market value. Depending on the asset, estimated fair market value may be determined either by use of a discounted cash flow model or by reference to estimated selling values of assets in similar condition.
Capitalization of Software Costs	Capitalization of Software Costs The Company capitalizes certain qualifying costs incurred in the acquisition and development of software for internal use, including the costs of the software, materials, consultants, interest and payroll and payroll-related costs for employees during the application development stage. Internal and external costs incurred during the preliminary project stage and post implementation-operation stage, mainly training and maintenance costs, are expensed as incurred. Once the application is substantially complete and ready for its intended use, qualifying costs are amortized on a straight-line basis over the software’s estimated useful life.
Impairment Review of Goodwill and Indefinite-Lived Intangible Assets	Impairment Review of Goodwill and Indefinite-Lived Intangible Assets The Company tests its goodwill, trademarks with indefinite lives and other indefinite-lived intangible assets annually for impairment in the fiscal fourth quarter unless there are indications during a different interim period that these assets may have become impaired. With respect to goodwill, the Company has the option to first assess qualitative factors such as maturity and stability of the reporting unit, magnitude of excess fair value over carrying value from the prior year’s impairment testing, other reporting unit specific operating results as well as new events and circumstances impacting the operations at the reporting unit level. If the result of a qualitative test indicates a potential for impairment of a reporting unit, a quantitative test is performed. The quantitative test is a two-step process. In the first step, the Company compares the estimated fair value of the reporting unit to its carrying value. In all instances, the estimated fair value exceeded the carrying value of the reporting unit. Had the estimated fair value of any reporting unit been less than its carrying value, the Company would have performed a second step to determine the implied fair value of the reporting unit’s goodwill. If the carrying amount of a reporting unit’s goodwill had exceeded its implied fair value, an impairment charge would have been recorded for the difference between the carrying amount and the implied fair value of the reporting unit’s goodwill. To determine the fair value of a reporting unit as part of its quantitative test, the Company uses a discounted cash flow (DCF) approach, as it believes that this approach is the most reliable indicator of the fair value of its businesses and the fair value of their future earnings and cash flows. Under this approach, the Company estimates the future cash flows of each reporting unit and discounts these cash flows at a rate of return that reflects their relative risk. The cash flows used in the DCF are consistent with those the Company uses in its internal planning, which gives consideration to actual business trends experienced, and the broader business strategy for the long term. The other key estimates and factors used in the DCF include, but are not limited to, future sales volumes, revenue and expense growth rates, changes in working capital, foreign exchange rates, currency devaluation, inflation and a perpetuity growth rate. Changes in such estimates or the application of alternative assumptions could produce different results. For trademarks and other intangible assets with indefinite lives, the Company performs a quantitative analysis to test for impairment. When a quantitative test is performed, the estimated fair value of an asset is compared to its carrying amount. If the carrying amount of such asset exceeds its estimated fair value, an impairment charge is recorded for the difference between the carrying amount and the estimated fair value. The Company uses the income approach to estimate the fair value of its trademarks and other intangible assets with indefinite lives. This approach requires significant judgments in determining both the assets’ estimated cash flows as well as the appropriate discount and foreign exchange rates applied to those cash flows to determine fair value. Changes in such estimates or the use of alternative assumptions could produce different results.
Stock-based Compensation	Stock-based Compensation The Company grants various nonqualified stock-based compensation awards to eligible employees, including stock options and performance units. For stock options, the Company estimates the fair value of each award on the date of grant using the Black-Scholes valuation model, which requires management to make estimates regarding expected option life, stock price volatility and other assumptions. Groups of employees that have similar historical exercise behavior are considered separately for valuation purposes. The Company estimates stock option forfeitures based on historical data for each employee grouping. The total number of stock options expected to vest is adjusted by actual and estimated forfeitures. Changes to the actual and estimated forfeitures will result in a cumulative catch-up adjustment in the period of change. Compensation expense is recorded by amortizing the grant date fair values on a straight-line basis over the vesting period, adjusted for estimated forfeitures. The Company’s performance unit grants provide for the issuance of common stock to certain managerial staff and executive management if the Company achieves specified performance targets. The number of shares issued are dependent upon vesting and the achievement of specified performance targets. The performance period is three years and the payout determination is made at the end of the three-year performance period. Performance unit grants receive dividends earned during the vesting period upon vesting. The fair value of each grant issued is estimated on the date of grant based on the current market price of the stock. The total amount of compensation expense recognized reflects estimated forfeiture rates and the initial assumption that performance goals will be achieved. Compensation expense is adjusted based on management’s assessment of the probability that performance goals will be achieved. If such goals are not met or it is determined that achievement of performance goals is not probable, previously recognized compensation expense is trued up in the current period to reflect the expected payout level. If it is determined that the performance goals will be exceeded, additional compensation expense is recognized, subject to a cap of 150%. Cash flows resulting from tax deductions in excess of the cumulative compensation cost recognized for stock-based payment arrangements (excess tax benefits) are primarily classified as financing cash inflows.
Employee Benefits	Employee Benefits The Company accounts for its defined benefit retirement income and retirement health care plans using actuarial methods . The Company recognizes an actuarial-based obligation at the onset of disability for certain benefits provided to individuals after employment, but before retirement, that include medical, dental, vision, life and other benefits.
Environmental Costs	Environmental Costs The Company is involved in certain environmental remediation and ongoing compliance activities. Accruals for environmental matters are recorded on a site-by-site basis when it is probable that a liability has been incurred and based upon a reasonable estimate of the liability. The Company’s accruals reflect the anticipated participation of other potentially responsible parties in those instances where it is probable that such parties are legally responsible and financially capable of paying their respective shares of the relevant costs. These accruals are adjusted periodically as assessment and remediation efforts progress or as additional technical or legal information become available. Actual costs to be incurred at identified sites in future periods may vary from the estimates, given the inherent uncertainties in evaluating environmental exposures. The accrual for environmental matters is included in Accounts payable and accrued liabilities and Other liabilities in the Company’s consolidated balance sheets on an undiscounted basis due to uncertainty regarding the timing of future payments.
Revenue Recognition	Revenue Recognition Sales are recognized as revenue when the risk of loss and title pass to the customer and when all of the following have occurred: a firm sales arrangement exists, pricing is fixed or determinable and collection is reasonably assured. Sales are recorded net of allowances for trade promotions, coupons, returns and other discounts. The Company routinely commits to one-time or ongoing trade-promotion programs with customers and consumer coupon programs that require the Company to estimate and accrue the expected costs of such programs. Programs include shelf price reductions, end-of-aisle or in-store displays of the Company’s products and graphics and other trade-promotion activities conducted by the customer. Coupons are recognized as a liability when distributed based upon expected consumer redemptions. The Company maintains liabilities related to these programs for the estimated expenses incurred, but not paid, at the end of each period. Trade-promotion and coupon redemption costs are recorded as a reduction of sales. The Company provides an allowance for doubtful accounts based on its historical experience and ongoing assessment of its customers’ credit risk. Receivables were presented net of an allowance for doubtful accounts of $5 and $4 as of June 30, 2016 and 2015, respectively. Receivables, net, included non-customer receivables of $9 and $12 as of June 30, 2016 and 2015, respectively.
Cost of Products Sold	Cost of Products Sold Cost of products sold represents the costs directly related to the manufacture and distribution of the Company’s products and primarily includes raw materials, packaging, contract manufacturing fees, shipping and handling, warehousing, package design, depreciation, amortization, direct and indirect labor and operating costs for the Company’s manufacturing and distribution facilities including salary, benefit costs and incentive compensation, and royalties and other charges related to the Company’s Glad ® Costs associated with developing and designing new packaging are expensed as incurred and include design, artwork, films and labeling. Expenses for fiscal years ended June 30, 2016, 2015 and 2014 were $11, $11 and $12, respectively, all of which were reflected in Cost of products sold or discontinued operations, as appropriate, in the consolidated statements of earnings.
Selling and Administrative Expenses	Selling and Administrative Expenses Selling and administrative expenses represent costs incurred by the Company in generating revenues and managing the business and include market research, commissions and certain administrative expenses. Administrative expenses include salary, benefits, incentive compensation, professional fees and services, software and licensing fees and other operating costs associated with the Company’s non-manufacturing, non-research and development staff, facilities and equipment.
Advertising and Research and Development Costs	Advertising and Research and Development Costs The Company expenses advertising and research and development costs in the period incurred.
Income Taxes	Income Taxes The Company uses the asset and liability method to account for income taxes. Deferred tax assets and liabilities are recognized for the anticipated future tax consequences attributable to differences between financial statement amounts and their respective tax basis. Management reviews the Company’s deferred tax assets to determine whether their value can be realized based upon available evidence. A valuation allowance is established when management believes that it is more likely than not that some portion of its deferred tax assets will not be realized. Changes in valuation allowances from period to period are included in the Company’s tax provision in the period of change. In addition to valuation allowances, the Company provides for uncertain tax positions when such tax positions do not meet certain recognition thresholds or measurement standards. Amounts for uncertain tax positions are adjusted in quarters when new information becomes available or when positions are effectively settled. U.S. income tax expense and foreign withholding taxes are provided on unremitted foreign earnings that are not indefinitely reinvested at the time the earnings are generated. Where foreign earnings are indefinitely reinvested, no provision for U.S. income or foreign withholding taxes is made. When circumstances change and the Company determines that some or all of the undistributed earnings will be remitted in the foreseeable future, the Company accrues an expense in the current period for U.S. income taxes and foreign withholding taxes attributable to the anticipated remittance.
Foreign Currency Transactions and Translation	Foreign Currency Transactions and Translation Local currencies are the functional currencies for substantially all of the Company’s foreign operations. When the transactional currency is different than the functional currency, transaction gains and losses are included as a component of Other (income) expense, net. In addition, certain assets and liabilities denominated in currencies different than a foreign subsidiary’s functional currency are reported on the subsidiary’s books in its functional currency, with the impact from exchange rate differences recorded in Other (income) expense, net. Assets and liabilities of foreign operations are translated into U.S. dollars using the exchange rates in effect at the balance sheet date, while income and expenses are translated at the average monthly exchange rates during the year. Gains and losses on foreign currency translations are reported as a component of Other comprehensive income (loss). Deferred taxes are not provided on cumulative translation adjustments where the Company expects earnings of a foreign subsidiary to be indefinitely reinvested. The income tax effect of currency translation adjustments related to foreign subsidiaries and joint ventures for which earnings are not considered indefinitely reinvested is recorded as a component of deferred taxes with an offset to Other comprehensive income (loss).
Derivative Instruments	Derivative Instruments The Company’s use of derivative instruments, principally swaps, futures and forward contracts, is limited to non-trading purposes and is designed to partially manage exposure to changes in commodity prices, interest rates and foreign currencies. The Company’s contracts are hedges for transactions with notional amounts and periods consistent with the related exposures and do not constitute investments independent of these exposures. The changes in the fair value (i.e., gains or losses) of a derivative instrument are recorded as either assets or liabilities in the consolidated balance sheets with an offset to net earnings or Other comprehensive income (loss) depending on whether, for accounting purposes, it has been designated and qualifies as an accounting hedge and, if so, on the type of hedging relationship. The criteria used to determine if hedge accounting treatment is appropriate are: (a) formal designation and documentation of the hedging relationship, the risk management objective and hedging strategy at hedge inception; (b) eligibility of hedged items, transactions and corresponding hedging instrument; and (c) effectiveness of the hedging relationship both at inception of the hedge and on an ongoing basis in achieving the hedging objectives. For those derivative instruments designated and qualifying as hedging instruments, the Company must designate the hedging instrument either as a fair value hedge or as a cash flow hedge. The Company designates its commodity forward and future contracts for forecasted purchases of raw materials, interest rate forward contracts for forecasted interest payments, and foreign currency forward contracts for forecasted purchases of inventory as cash flow hedges. During the fiscal years ended June 30, 2016, 2015 and 2014, the Company had no hedging instruments designated as fair value hedges. For derivative instruments designated and qualifying as cash flow hedges, the effective portion of gains or losses is reported as a component of Other comprehensive income (loss) and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. From time to time, the Company may have contracts not designated as hedges for accounting purposes, for which it recognizes changes in the fair value in the consolidated statement of earnings in the current period. Cash flows from hedging activities are classified as operating activities in the consolidated statements of cash flows.
Recently Issued Accounting Standards	Recently Issued Accounting Standards In March 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-09, “Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting,” which simplifies several aspects of the accounting for share-based payment transactions, including requiring excess tax benefits and deficiencies to be recognized as income tax benefit or expense in the consolidated statement of earnings and excess tax benefits and deficiencies to be classified as an operating activity in the consolidated statement of cash flows. The new guidance is effective for the Company beginning in the first quarter of fiscal year 2018, with early adoption permitted. The Company is planning to adopt the standard in the first quarter of fiscal year 2017. While the actual benefit realized may vary significantly given the inherent uncertainty in predicting future share-based transactions, the Company currently estimates that the adoption will result in approximately a 4 percentage point benefit to the Company’s historical effective tax rate of 34% to 35% for fiscal year 2017. In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842),” which requires lessees to recognize a right-of-use asset and lease liability for all leases with terms of more than 12 months. Recognition, measurement and presentation will depend on classification as a finance or operating lease. ASU 2016-02 also requires expanded disclosures about leasing arrangements. The new guidance is effective for the Company beginning in the first quarter of fiscal year 2020, with early adoption permitted. The Company is currently evaluating the impact that adoption of this guidance will have on its consolidated financial statements. In November 2015, the FASB issued ASU No. 2015-17, “Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes,” which requires all deferred tax liabilities and assets to be classified as noncurrent. The Company adopted the standard in the fourth quarter of fiscal year 2016 on a prospective basis as permitted. Prior period balances have not been retrospectively adjusted. In April 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2015-03, “Simplifying the Presentation of Debt Issuance Cost,” which requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The new guidance is effective for the Company beginning in the first quarter of fiscal year 2017, with early adoption permitted. The Company does not expect the adoption of this guidance will have a significant impact on its consolidated financial statements. In February 2015, the FASB issued ASU No. 2015-02, Amendments to the Consolidation Analysis,” which changes the guidance for evaluating whether to consolidate certain legal entities. The amendments modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities ("VIEs") or voting interest entities. The new guidance is effective for the Company beginning in the first quarter of fiscal year 2017, with early adoption permitted. The Company does not expect the adoption of this guidance will have a significant impact on its consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606),” which replaces most existing U.S. GAAP revenue recognition guidance and is intended to improve and converge with international standards the financial reporting requirements for revenue from contracts with customers. The core principle of ASU 2014-09 is that an entity should recognize revenue for the transfer of goods or services equal to the amount that it expects to be entitled to receive for those goods or services. ASU 2014-09 also requires additional disclosures about the nature, timing and uncertainty of revenue and cash flows arising from contracts with customers, including information about significant judgments and changes in judgments. The new guidance is effective for the Company beginning in the first quarter of fiscal year 2019, with the option to early adopt in the first quarter of fiscal year 2018. The Company is currently evaluating the impact that adoption of this guidance will have on its consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUN32

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Components of Cash and Cash Equivalents	The Company’s cash holdings were as follows as of June 30: 2016 2015 U.S. dollar balances held by U.S. dollar functional currency subsidiaries and at parent $ 249 $ 221 Non-U.S. dollar balances held by non-U.S. dollar functional currency subsidiaries 133 142 U.S. dollar balances held by non-U.S. dollar functional currency subsidiaries 19 19 Non-U.S. dollar balances held by U.S. dollar functional currency subsidiaries - - Total $ 401 $ 382
Useful Lives of Property, Plant and Equipment	The table below provides estimated useful lives of property, plant and equipment by asset classification. Estimated Useful Lives Buildings and leasehold improvements 10 - 40 years Land improvements 10 - 30 years Machinery and equipment 3 - 15 years Computer equipment 3 - 5 years Capitalized software costs 3 - 7 years

DISCONTINUED OPERATIONS (Tables

DISCONTINUED OPERATIONS (Tables)	12 Months Ended
	Jun. 30, 2016
Discontinued Operations and Disposal Groups [Abstract]
Summary of (losses) gains from discontinued operations	The following table provides a summary of gains (losses) from discontinued operations for Clorox Venezuela and gains (losses) from discontinued operations other than Clorox Venezuela for the years ended June 30: 2016 2015 2014 Operating losses from Clorox Venezuela before income taxes $ - $ (6 ) $ (23 ) Exit costs and other related expenses for Clorox Venezuela (2 ) (78 ) - Total losses from Clorox Venezuela before income taxes (2 ) (84 ) (23 ) Income tax benefit attributable to Clorox Venezuela 2 29 6 Total losses from Clorox Venezuela, net of tax - (55 ) (17 ) Gains (losses) from discontinued operations other than Clorox Venezuela, net of tax - 29 (4 ) Losses from discontinued operations, net of tax $ - $ (26 ) $ (21 )
Summary of operating losses, asset charges and other costs	The following provides a breakdown of (losses) gains from discontinued operations for Clorox Venezuela and gains from discontinued operations other than Clorox Venezuela for the fiscal years ended June 30: 2016 2015 Operating losses from Clorox Venezuela before income taxes $ - $ (6 ) Net asset charges: Inventories - (11 ) Property, plant and equipment - (16 ) Trademark and other intangible assets - (6 ) Other assets - (2 ) Other exit and business termination costs: Severance - (3 ) Recognition of deferred foreign currency translation loss - (30 ) Other (2 ) (10 ) Total losses from Clorox Venezuela before income taxes (2 ) (84 ) Income tax benefit attributable to Clorox Venezuela 2 29 Total losses from Clorox Venezuela, net of tax - (55 ) Gains from discontinued operations other than Clorox Venezuela, net of tax - 29 Losses from discontinued operations, net of tax $ - $ (26

BUSINESSES ACQUIRED (Tables)

BUSINESSES ACQUIRED (Tables)	12 Months Ended
	Jun. 30, 2016
Business Combinations [Abstract]
Schedule of Estimated Fair Values of Assets Acquired and Liabilities Assumed as of Acquisition Date	The following table summarizes the estimated fair values of Renew Life’s assets acquired and liabilities assumed and related deferred income taxes as of the acquisition date. Due to the timing of the acquisition, the fair value of the assets acquired and liabilities assumed are based on a preliminary valuation and the Company’s estimates and assumptions are subject to change within the measurement period. The primary areas of the purchase price that are not yet finalized are related to goodwill and income taxes. The weighted-average estimated useful life of intangible assets subject to amortization is 15 years. 2016 Renew Life Goodwill $ 137 Trademarks 134 Customer relationships 36 Property, plant and equipment 3 Working capital, net 41 Deferred income taxes (61 ) Purchase Price $ 290

INVENTORIES (Tables)

INVENTORIES (Tables)	12 Months Ended
	Jun. 30, 2016
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consisted of the following as of June 30: 2016 2015 Finished goods $ 361 $ 316 Raw materials and packaging 111 101 Work in process 3 3 LIFO allowances (32 ) (35 ) Total $ 443 $ 385

OTHER CURRENT ASSETS (Tables)

OTHER CURRENT ASSETS (Tables)	12 Months Ended
	Jun. 30, 2016
OTHER CURRENT ASSETS [Abstract]
Other Current Assets	Other current assets consisted of the following as of June 30: 2016 2015 Deferred tax assets (a) $ - $ 99 Prepaid expenses 70 39 Other 2 5 Total $ 72 $ 143 (a)

PROPERTY, PLANT AND EQUIPMENT37

PROPERTY, PLANT AND EQUIPMENT, NET (Tables)	12 Months Ended
	Jun. 30, 2016
Property, Plant and Equipment, Net [Abstract]
Schedule of Property, Plant and Equipment, Net	The components of property, plant and equipment, net, consisted of the following as of June 30: 2016 2015 Machinery and equipment $ 1,607 $ 1,608 Buildings 524 515 Capitalized software costs 368 371 Land and improvements 118 122 Construction in progress 112 65 Computer equipment 88 76 2,817 2,757 Less: Accumulated depreciation and amortization (1,911 ) (1,839 ) Total $ 906 $ 918

GOODWILL, TRADEMARKS AND OTHE38

GOODWILL, TRADEMARKS AND OTHER INTANGIBLE ASSETS (Tables)	12 Months Ended
	Jun. 30, 2016
GOODWILL, TRADEMARKS AND OTHER INTANGIBLE ASSETS [Abstract]
Schedule of Goodwill	The changes in the carrying amount of goodwill by reportable segment for the fiscal years ended June 30, 2016 and 2015 were as follows: Goodwill Cleaning Lifestyle Household International Total Balance June 30, 2014 $ 323 $ 244 $ 85 $ 449 $ 1,101 Effect of foreign currency translation - - - (34 ) (34 ) Balance June 30, 2015 323 244 85 415 1,067 Acquisition - - 122 15 137 Effect of foreign currency translation - - - (7 ) (7 ) Balance June 30, 2016 $ 323 $ 244 $ 207 $ 423 $ 1,197
Schedule of Intangible Assets, Excluding Goodwill	The changes in the carrying amount of trademarks and other intangible assets for the fiscal years ended June 30 were as follows: As of June 30, 2016 As of June 30, 2015 Gross carrying amount Accumulated amortization Net carrying amount Gross carrying amount Accumulated amortization Net carrying amount Trademarks not subject to amortization $ 647 $ - $ 647 $ 524 $ - $ 524 Trademarks subject to amortization 32 22 10 33 22 11 Other intangible assets: Technology and product formulae 137 134 3 137 133 4 Other 221 146 75 188 142 46 Total $ 1,037 $ 302 $ 735 $ 882 $ 297 $ 585

ACCOUNTS PAYABLE AND ACCRUED 39

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Tables)	12 Months Ended
	Jun. 30, 2016
Accounts Payable and Accrued Liabilities, Current [Abstract]
Schedule of Accounts Payable and Accrued Liabilities	Accounts payable and accrued liabilities consisted of the following as of June 30: 2016 2015 Accounts payable $ 490 $ 431 Compensation and employee benefit costs 192 189 Trade and sales promotion 127 115 Dividends 108 103 Other 118 141 Total (a) $ 1,035 $ 979 (a)

DEBT (Tables)

DEBT (Tables)	12 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Short-term Notes and Loans Payable	Notes and loans payable, which mature in less than one year, included the following as of June 30: 2016 2015 Commercial paper $ 522 $ 93 Foreign borrowings 1 2 Total $ 523 $ 95
Long-Term Debt, Net of Unamortized Discounts or Premiums	Long-term debt, carried at face value net of unamortized discounts or premiums, included the following as of June 30: 2016 2015 Senior unsecured notes and debentures: 3.55%, $300 due November 2015 - 300 5.95%, $400 due October 2017 400 399 3.80%, $300 due November 2021 298 298 3.05%, $600 due September 2022 599 599 3.50%, $500 due December 2024 500 500 Total 1,797 2,096 Less: Current maturities of long-term debt - (300 ) Long-term debt $ 1,797 $ 1,796
Borrowing Capacity Under Other Financing Arrangements	The Company’s borrowing capacity under other financing arrangements as of June 30 was as follows: 2016 2015 Revolving credit facility $ 1,100 $ 1,100 Foreign credit lines 10 11 Other credit lines 18 18 Total $ 1,128 $ 1,129

OTHER LIABILITIES (Tables)

OTHER LIABILITIES (Tables)	12 Months Ended
	Jun. 30, 2016
Other Liabilities Disclosure [Abstract]
Schedule of Other Liabilities	Other liabilities consisted of the following as of June 30: 2016 2015 Employee benefit obligations $ 335 $ 299 Venture agreement terminal obligation, net 302 294 Taxes 40 38 Other 107 119 Total $ 784 $ 750

FINANCIAL INSTRUMENTS AND FAI42

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Jun. 30, 2016
FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value	The following table summarizes the fair value of Company’s assets and liabilities for which disclosure of fair value is required as of June 30: 2016 2015 Assets Balance sheet classification Fair value hierarchy level Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Investments including money market funds Cash and cash equivalents (a) 1 $ 234 $ 234 $ 212 $ 212 Time deposits Cash and cash equivalents (a) 2 79 79 84 84 Commodity purchase derivative contracts Other current assets 1 1 1 - - Foreign exchange derivative contracts Other current assets 2 1 1 1 1 Commodity purchase derivative contracts Other assets 2 1 1 - - Trust assets for nonqualified deferred compensation plans Other assets 1 52 52 38 38 $ 368 $ 368 $ 335 $ 335 Liabilities Notes and loans payable Notes and loans payable (b) 2 $ 523 $ 523 $ 95 $ 95 Commodity purchase derivative contracts Accounts payable and accrued liabilities 2 1 1 8 8 Foreign exchange derivative contracts Accounts payable and accrued liabilities 2 4 4 - - Current maturities of long-term debt and Long-term debt Current maturities of long- term debt and Long-term debt (c) 2 1,797 1,922 2,096 2,137 $ 2,325 $ 2,450 $ 2,199 $ 2,240 (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 loan payable is composed of U.S. commercial paper and/or other similar short-term debts 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.
Effects of Derivative Instruments Designated as Hedging Instruments on OCI	Gains (losses) recognized in other comprehensive net loss 2016 2015 2014 Commodity purchase derivative contracts $ (4 ) $ (13 ) $ 2 Interest rate derivative contracts - (12 ) (13 ) Foreign exchange derivative contracts (3 ) 7 (3 ) Total $ (7 ) $ (18 ) $ (14 )
Effects of Derivative Instruments Designated as Hedging Instruments on Net Earnings	Gains (losses) reclassified from accumulated other comprehensive net loss and recognized in net earnings 2016 2015 2014 Commodity purchase derivative contracts $ (13 ) $ (5 ) $ - Interest rate derivative contracts (6 ) (5 ) (4 ) Foreign exchange derivative contracts 1 3 4 Total $ (18 ) $ (7 ) $ -

LEASES AND OTHER COMMITMENTS (T

LEASES AND OTHER COMMITMENTS (Tables)	12 Months Ended
	Jun. 30, 2016
LEASES AND OTHER COMMITMENTS [Abstract]
Schedule of future minimum annual lease commitments required under existing non-cancelable operating and capital lease agreements	The future minimum annual lease commitments required under the Company’s existing non-cancelable operating and capital lease agreements as of June 30, 2016, were as follows: Year Operating leases Capital leases 2017 $ 49 $ 3 2018 45 2 2019 38 1 2020 32 - 2021 29 - Thereafter 135 - Total $ 328 $ 6
Schedule of Purchase Obligations	As of June 30, 2016, the Company’s purchase obligations were as follows: Year Purchase Obligations 2017 $ 150 2018 54 2019 37 2020 12 2021 2 Thereafter 1 Total $ 256

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	12 Months Ended
	Jun. 30, 2016
Stockholders' Equity Note [Abstract]
Schedule of Share Repurchases under Authorized Programs	Share repurchases under authorized programs were as follows during the fiscal years ended June 30: 2016 2015 2014 Amount Shares (in 000's) Amount Shares (in 000's) Amount Shares (in 000's) Open-market purchase programs $ - - $ - - $ - - Evergreen Program 254 2,151 434 4,016 260 3,046 Total $ 254 2,151 $ 434 4,016 $ 260 3,046
Schedule of Dividends Declared and Paid	Dividends per share declared and paid, respectively, during the fiscal years ended June 30 were as follows: 2016 2015 2014 Dividends per share declared $ 3.11 $ 2.99 $ 2.87 Dividends per share paid 3.08 2.96 2.84
Schedule of Changes in Accumulated Other Comprehensive Net (Losses) Income	Changes in Accumulated other comprehensive net (losses) income by component were as follows for the fiscal years ended June 30: Foreign currency adjustments Net unrealized gains (losses) on derivatives Pension and postretirement benefit adjustments Accumulated Other Comprehensive Income Balance June 30, 2013 $ (209 ) $ (30 ) $ (128 ) $ (367 ) Other comprehensive (loss) income before reclassifications (26 ) (15 ) (16 ) (57 ) Amounts reclassified from accumulated other comprehensive net losses - - 8 8 Income tax benefit (expense) (11 ) 6 4 (1 ) Net current period other comprehensive income (loss) (37 ) (9 ) (4 ) (50 ) Balance June 30, 2014 (246 ) (39 ) (132 ) (417 ) Other comprehensive (loss) income before reclassifications (92 ) (18 ) (29 ) (139 ) Amounts reclassified from accumulated other comprehensive net losses - 7 - 7 Recognition of deferred foreign currency translation loss 30 - - 30 Income tax benefit (expense) 8 (3 ) 12 17 Net current period other comprehensive income (loss) (54 ) (14 ) (17 ) (85 ) Balance June 30, 2015 (300 ) (53 ) (149 ) (502 ) Other comprehensive (loss) income before reclassifications (43 ) (7 ) (38 ) (88 ) Amounts reclassified from accumulated other comprehensive net losses - 18 - 18 Income tax benefit (expense) (10 ) (2 ) 14 2 Net current period other comprehensive income (loss) (53 ) 9 (24 ) (68 ) Balance June 30, 2016 $ (353 ) $ (44 ) $ (173 ) $ (570 )

NET EARNINGS PER SHARE (EPS) (T

NET EARNINGS PER SHARE (EPS) (Tables)	12 Months Ended
	Jun. 30, 2016
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 for the fiscal years ended June 30: 2016 2015 2014 Basic 129,472 130,310 129,558 Dilutive effect of stock options and other 2,245 2,466 2,184 Diluted 131,717 132,776 131,742 Antidilutive stock options and other 42 23 -

STOCK-BASED COMPENSATION PLANS

STOCK-BASED COMPENSATION PLANS (Tables)	12 Months Ended
	Jun. 30, 2016
Share-based Compensation [Abstract]
Schedule of Stock-based Compensation	Compensation cost and the related income tax benefit recognized for stock-based compensation plans were classified as indicated below for the fiscal years ended June 30: 2016 2015 2014 Cost of products sold $ 6 $ 4 $ 4 Selling and administrative expenses 35 25 29 Research and development costs 4 3 3 Total compensation cost $ 45 $ 32 $ 36 Related income tax benefit $ 17 $ 12 $ 13
Schedule of Stock Option Valuation Assumptions	The fair value of each stock option award granted during fiscal years 2016, 2015 and 2014 was estimated on the date of grant using the Black-Scholes valuation model and assumptions noted in the following table: 2016 2015 2014 Expected life 5.6 years 5.6 to 5.8 years 5.7 years Weighted-average expected life 5.6 years 5.7 years 5.7 years Expected volatility 16.43% to 17.3% 16.3% to 18.6% 18.4% to 18.5% Weighted-average volatility 17.2% 16.6% 18.5% Risk-free interest rate 1.3% to 1.7% 1.4% to 2.0% 1.8% to 1.9% Weighted-average risk-free interest rate 1.7% 1.9% 1.8% Dividend yield 2.5% to 2.8% 2.8% to 3.4% 3.4% Weighted-average dividend yield 2.8% 3.3% 3.4%
Summary of Stock Option Activity	Details of the Company’s stock option activities are summarized below: Number of Shares (In thousands) Weighted- Average Exercise Price per Share Average Remaining Contractual Life Aggregate Intrinsic Value Options outstanding as of June 30, 2015 8,357 $ 76 7 years $ 236 Granted 1,317 112 Exercised (2,633 ) 69 Cancelled (214 ) 95 Options outstanding as of June 30, 2016 6,827 $ 85 7 years $ 366 Options vested as of June 30, 2016 3,555 $ 74 5 years $ 228
Summary of Restricted Stock Award Activity	A summary of the status of the Company’s restricted stock awards is presented below: Number of Shares (In thousands) Weighted-Average Grant Date Fair Value per Share Restricted stock awards as of June 30, 2015 18 $ 91 Granted 5 129 Vested (9 ) 88 Forfeited (1 ) 106 Restricted stock awards as of June 30, 2016 13 $ 108
Summary of Performance Units Award Activity	A summary of the status of the Company’s performance unit awards is presented below: Number of Shares (In thousands) Weighted-Average Grant Date Fair Value per Share Performance unit awards as of June 30, 2015 1,123 $ 79 Granted 286 92 Distributed (377 ) 70 Forfeited (80 ) 87 Performance unit awards as of June 30, 2016 952 $ 90 Performance units vested and deferred as of June 30, 2016 157 $ 58

OTHER (INCOME) EXPENSE, NET (Ta

OTHER (INCOME) EXPENSE, NET (Tables)	12 Months Ended
	Jun. 30, 2016
Other Income and Expenses [Abstract]
Major Components of Other (Income) Expense, Net	The major components of Other (income) expense, net, for the fiscal years ended June 30 were: 2016 2015 2014 Income from equity investees $ (15 ) $ (14 ) $ (13 ) Interest income (5 ) (4 ) (3 ) Low income housing partnership gains, net - (13 ) - Foreign exchange transaction losses, net 1 9 1 Amortization of trademarks and other intangible assets 8 8 8 Intangible asset impairment charges 9 3 3 Other (5 ) (2 ) (6 ) Total $ (7 ) $ (13 ) $ (10 )

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Provision for Income Taxes on Continuing Operations by Tax Jurisdiction	The provision for income taxes on continuing operations, by tax jurisdiction, consisted of the following for the fiscal years ended June 30: 2016 2015 2014 Current Federal $ 254 $ 265 $ 247 State 31 28 34 Foreign 45 38 45 Total current 330 331 326 Deferred Federal 11 (13 ) (19 ) State 1 (1 ) 2 Foreign (7 ) (2 ) (4 ) Total deferred 5 (16 ) (21 ) Total $ 335 $ 315 $ 305
Earnings from Continuing Operations before Income Taxes, by Tax Jurisdiction	The components of earnings from continuing operations before income taxes, by tax jurisdiction, consisted of the following for the fiscal years ended June 30: 2016 2015 2014 United States $ 900 $ 829 $ 754 Foreign 83 92 130 Total $ 983 $ 921 $ 884
Effective Income Tax Rate Reconciliation	A reconciliation of the statutory federal income tax rate to the Company’s effective tax rate on continuing operations follows for the fiscal years ended June 30: 2016 2015 2014 Statutory federal tax rate 35.0 % 35.0 % 35.0 % State taxes (net of federal tax benefits) 2.1 2.1 2.6 Tax differential on foreign earnings 0.5 (0.3 ) (0.3 ) Domestic manufacturing deduction (2.4 ) (2.1 ) (2.3 ) Change in valuation allowance 0.5 0.6 0.6 Other differences (1.6 ) (1.1 ) (1.0 ) Effective tax rate 34.1 % 34.2 % 34.6 %
Components of Net Deferred Tax Assets (Liabilities)	The components of net deferred tax assets (liabilities) as of June 30 are shown below: 2016 2015 Deferred tax assets (a) Compensation and benefit programs $ 193 $ 191 Basis difference related to Venture Agreement 30 30 Accruals and reserves 34 43 Inventory costs 21 19 Net operating loss and tax credit carryforwards 48 41 Other 54 61 Subtotal 380 385 Valuation allowance (37 ) (34 ) Total deferred tax assets 343 351 Deferred tax liabilities (a) Fixed and intangible assets (325 ) (277 ) Low-income housing partnerships (23 ) (22 ) Unremitted foreign earnings (16 ) (7 ) Other (25 ) (24 ) Total deferred tax liabilities (389 ) (330 ) Net deferred tax assets (liabilities) $ (46 ) $ 21 (a)
Summary of Changes in Deferred Tax Asset Valuation Allowance	Details of the valuation allowance were as follows as of June 30: 2016 2015 Valuation allowance at beginning of year $ (34 ) $ (51 ) Net decrease/(increase) for other foreign deferred tax assets 3 15 Net decrease/(increase) for foreign net operating loss carryforwards and tax credits (6 ) 2 Valuation allowance at end of year $ (37 ) $ (34 )
Reconciliation of Gross Unrecognized Tax Benefits	The following is a reconciliation of the beginning and ending amounts of the Company’s gross unrecognized tax benefits: 2016 2015 2014 Unrecognized tax benefits at beginning of year $ 38 $ 71 $ 69 Gross increases - tax positions in prior periods 3 3 3 Gross decreases - tax positions in prior periods (3 ) (8 ) (5 ) Gross increases - current period tax positions 8 6 7 Gross decreases - current period tax positions - - - Lapse of applicable statute of limitations (4 ) (34 ) (1 ) Settlements (5 ) - (2 ) Unrecognized tax benefits at end of year $ 37 $ 38 $ 71

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	12 Months Ended
	Jun. 30, 2016
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]
Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan	Summarized information for the Company’s retirement income and retirement health care plans as of and for the fiscal years ended June 30 is as follows: Retirement Income Retirement Health Care 2016 2015 2016 2015 Change in benefit obligations: Projected benefit obligation as of beginning of year $ 639 $ 641 $ 45 $ 49 Service cost 1 2 - - Interest cost 26 25 2 2 Actuarial loss (gain) 51 14 2 - Plan amendments (1 ) - - (1 ) Translation and other adjustments (1 ) (5 ) - (2 ) Benefits paid (42 ) (38 ) (2 ) (3 ) Projected benefit obligation as of end of year 673 639 47 45 Change in plan assets: Fair value of assets as of beginning of year $ 409 $ 432 $ - $ - Actual return on plan assets 26 6 - - Employer contributions 31 13 2 3 Benefits paid (42 ) (38 ) (2 ) (3 ) Translation and other adjustments (1 ) (4 ) - - Fair value of plan assets as of end of year 423 409 - - Accrued benefit cost, net funded status $ (250 ) $ (230 ) $ (47 ) $ (45 )
Schedule of Amounts Recognized in the Balance Sheets	Amount recognized in the balance sheets consists of: Pension benefit assets $ 1 $ 2 $ - $ - Current accrued benefit liability (14 ) (16 ) (3 ) (3 ) Non-current accrued benefit liability (237 ) (216 ) (44 ) (42 ) Accrued benefit cost, net $ (250 ) $ (230 ) $ (47 ) $ (45 )
Schedule of Accumulated Benefit Obligations in Excess of Plan Assets	Retirement income plans with ABO in excess of plan assets as of June 30 were as follows: Pension Plans Other Retirement Plans 2016 2015 2016 2015 Projected benefit obligation $ 575 $ 538 $ 76 $ 80 Accumulated benefit obligation 574 538 76 80 Fair value of plan assets 399 385 - -
Schedule of Components of Net Periodic Benefit Cost	The net costs of the retirement income and health care plans for the fiscal years ended June 30 included the following components: Retirement Income Retirement Health Care 2016 2015 2014 2016 2015 2014 Service cost $ 1 $ 2 $ 3 $ - $ - $ 1 Interest cost 26 25 27 2 2 2 Expected return on plan assets (17 ) (20 ) (25 ) - - - Amortization of unrecognized items 10 12 11 (3 ) 2 (4 ) Total $ 20 $ 19 $ 16 $ (1 ) $ 4 $ (1
Schedule of Items Not Yet Recognized as a Component of Postretirement Expense	Items not yet recognized as a component of postretirement expense as of June 30, 2016, consisted of: Retirement Income Retirement Health Care Net actuarial loss (gain) $ 296 $ (13 ) Prior service benefit - (6 ) Net deferred income tax (assets) liabilities (111 ) 7 Accumulated other comprehensive loss (income) $ 185 $ (12 )
Summary of Amounts Recognized in Accumulated Other Comprehensive Net Losses	Net actuarial loss (gain) recorded in Accumulated other comprehensive net (losses) income for the fiscal year ended June 30, 2016, included the following: Retirement Income Retirement Health Care Net actuarial loss (gain) as of beginning of year $ 264 $ (17 ) Amortization during the year (10 ) 2 Loss (gain) during the year 42 2 Net actuarial loss (gain) as of end of year $ 296 $ (13 )
Schedule of Weighted Average Assumptions Used	Weighted-average assumptions used to estimate the actuarial present value of benefit obligations as of June 30 were as follows: Retirement Income Retirement Health Care 2016 2015 2016 2015 Discount rate 3.42 % 4.20 % 3.42 % 4.16 % Rate of compensation increase 2.92 % 3.37 % n/a n/a Weighted-average assumptions used to estimate the net periodic pension and other postretirement benefit costs as of June 30 were as follows: Retirement Income 2016 2015 2014 Discount rate 4.20 % 4.05 % 4.39 % Rate of compensation increase 3.37 % 4.46 % 3.44 % Expected return on plan assets 4.34 % 5.28 % 6.61 % Retirement Health Care 2016 2015 2014 Discount rate 4.16 % 4.00 % 4.33 %
Schedule of Expected Benefit Payments	Expected benefit payments for the Company’s pension and other postretirement plans as of June 30, 2016, were as follows: Retirement Income Retirement Health Care 2017 $ 39 $ 3 2018 52 3 2019 39 3 2020 39 2 2021 39 2 Fiscal years 2022 through 2026 193 12
Schedule of Target Allocation and Weighted Average Allocation of Plan Assets	The target allocations and weighted average asset allocations by asset category of the investment portfolio for the Company’s domestic retirement income plans as of June 30 were: % Target Allocation % of Plan Assets 2016 2015 2016 2015 U.S. equity 11 % 11 % 11 % 11 % International equity 12 12 11 12 Fixed income 74 74 74 74 Other 3 3 4 3 Total 100 % 100 % 100 % 100 %
Schedule of Plan Assets Carried at Fair Value	The following table sets forth by level within the fair value hierarchy, the retirement income plans’ assets carried at fair value as of June 30: 2016 Level 1 Level 2 Total Cash equivalents $ 2 $ - $ 2 Common collective trusts Bond funds - 307 307 International equity funds - 56 56 Domestic equity funds - 44 44 Real estate fund - 14 14 Total common collective trusts - 421 421 Total assets at fair value $ 2 $ 421 $ 423 2015 Level 1 Level 2 Total Cash equivalents $ 3 $ - $ 3 Common collective trusts Bond funds - 295 295 International equity funds - 59 59 Domestic equity funds - 41 41 Real estate fund - 11 11 Total common collective trusts - 406 406 Total assets at fair value $ 3 $ 406 $ 409

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	12 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Selected Financial Information Relating to the Company's Segments	Fiscal Year Cleaning Household Lifestyle International Corporate Total Company Net sales 2016 $ 1,912 $ 1,862 $ 990 $ 997 $ $ 5,761 2015 1,824 1,794 950 1,087 - 5,655 2014 1,776 1,709 936 1,093 - 5,514 Earnings (losses) from continuing operations before income taxes 2016 511 428 251 66 (273 ) 983 2015 445 375 257 79 (235 ) 921 2014 428 326 258 99 (227 ) 884 Income from equity investees 2016 - - - 15 - 15 2015 - - - 14 - 14 2014 - - - 13 - 13 Total assets 2016 883 1,092 880 1,057 606 4,518 2015 876 725 860 1,057 646 4,164 Capital expenditures 2016 44 83 18 24 3 172 2015 35 50 11 25 4 125 2014 37 53 11 31 5 137 Depreciation and amortization 2016 61 60 19 21 4 165 2015 52 67 19 24 7 169 2014 49 67 19 25 17 177 Significant noncash charges included in earnings (losses) from continuing operations before income taxes: Share-based compensation 2016 10 8 5 1 21 45 2015 8 7 4 1 12 32 2014 11 9 5 1 10 36
Net Sales and Long-Lived Assets By Geographic Area	Net sales and property, plant and equipment, net, by geographic area as of and for the fiscal years ended June 30 were as follows: Fiscal Year United States Foreign Total Company Net sales 2016 $ 4,805 $ 956 $ 5,761 2015 4,609 1,046 5,655 2014 4,466 1,048 5,514 Property, plant and equipment, net 2016 $ 799 $ 107 $ 906 2015 801 117 918

UNAUDITED QUARTERLY DATA (Table

UNAUDITED QUARTERLY DATA (Tables)	12 Months Ended
	Jun. 30, 2016
Quarterly Financial Data [Abstract]
Unaudited Quarterly Data	Dollars in millions, except market price and per share data Quarters Ended September 30 December 31 March 31 June 30 Total Year Fiscal year ended June 30, 2016 Net sales $ 1,390 $ 1,345 $ 1,426 $ 1,600 $ 5,761 Cost of products sold 765 745 780 873 3,163 Earnings from continuing operations 173 151 159 165 648 (Losses) earnings from discontinued operations, net of tax (1 ) (2 ) 3 - - Net earnings 172 149 162 165 648 Per common share: Basic Continuing operations $ 1.34 $ 1.16 $ 1.23 $ 1.28 $ 5.01 Discontinued operations (0.01 ) (0.01 ) 0.02 - - Basic net earnings per share $ 1.33 $ 1.15 $ 1.25 $ 1.28 $ 5.01 Diluted Continuing operations $ 1.32 $ 1.14 $ 1.21 $ 1.26 $ 4.92 Discontinued operations (0.01 ) (0.01 ) 0.02 - - Diluted net earnings per share $ 1.31 $ 1.13 $ 1.23 $ 1.26 $ 4.92 Dividends declared per common share $ 0.77 $ 0.77 $ 0.77 $ 0.80 $ 3.11 Market price (NYSE) High $ 119.75 $ 131.78 132.19 $ 138.41 $ 138.41 Low 104.26 114.06 122.40 119.23 104.26 Year-end 138.39 Fiscal year ended June 30, 2015 Net sales $ 1,352 $ 1,345 $ 1,401 $ 1,557 $ 5,655 Cost of products sold 774 773 796 847 3,190 Earnings from continuing operations 145 128 144 189 606 Losses from discontinued operations, net of tax (55 ) (3 ) 30 2 (26 ) Net earnings 90 125 174 191 580 Per common share: Basic Continuing operations $ 1.12 $ 0.98 $ 1.09 $ 1.46 $ 4.65 Discontinued operations (0.42 ) (0.02 ) 0.22 0.02 (0.20 ) Basic net earnings per share $ 0.70 $ 0.96 $ 1.31 $ 1.48 $ 4.45 Diluted Continuing operations $ 1.10 $ 0.97 $ 1.08 $ 1.44 $ 4.57 Discontinued operations (0.42 ) (0.02 ) 0.22 0.02 (0.20 ) Diluted net earnings per share $ 0.68 $ 0.95 $ 1.30 $ 1.46 $ 4.37 Dividends declared per common share $ 0.74 $ 0.74 $ 0.74 $ 0.77 $ 2.99 Market price (NYSE) High $ 112.70 $ 112.65 $ 106.36 $ 98.31 $ 112.70 Low 103.77 102.95 95.19 86.03 86.03 Year-end 104.02

SUMMARY OF SIGNIFICANT ACCOUN52

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Schedule of Cash Holdings) (Details) - USD ($) $ in Millions	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Accounting Policies [Abstract]
U.S. dollar balances held by U.S. dollar functional currency subsidiaries and at parent	$ 249	$ 221
Non-U.S. dollar balances held by non-U.S. dollar functional currency subsidiaries	133	142
U.S. dollar balances held by non-U.S. dollar functional currency subsidiaries	19	19
Non-U.S. dollar balances held by U.S. dollar functional currency subsidiaries	0	0
Total	401	382	$ 329	$ 299
Noncurrent restricted cash	$ 4
Current restricted cash		$ 3

SUMMARY OF SIGNIFICANT ACCOUN53

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Schedule of Estimated Useful Lives of Property, Plant and Equipment) (Details)	12 Months Ended
	Jun. 30, 2016
Building and leasehold improvements [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	10 years
Building and leasehold improvements [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	40 years
Land Improvements [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	10 years
Land Improvements [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	30 years
Machinery and equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	3 years
Machinery and equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	15 years
Computer equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	3 years
Computer equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	5 years
Capitalized software costs [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	3 years
Capitalized software costs [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	7 years

SUMMARY OF SIGNIFICANT ACCOUN54

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Additional Information) (Details) $ in Millions	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016USD ($)item	Jun. 30, 2015USD ($)item	Jun. 30, 2014USD ($)item
Additional compensation expense, target cap		150.00%
Minimum percentage for calculating the amortization of actuarial gains and losses under the corridor approach		5.00%
Allowance for doubtful accounts		$ 5	$ 4
Non-customer receivables		9	12
Packaging development and design costs		$ 11	$ 11	$ 12
Number of hedging instruments designated as fair value hedges | item		0	0	0
Effective tax rate		34.10%	34.20%	34.60%
Minimum [Member]
Effective tax rate		34.00%
Maximum [Member]
Effective tax rate		35.00%
Scenario, Forecast [Member]
Percentage point benefit from adoption of ASU 2016-09	4.00%

DISCONTINUED OPERATIONS (Summar

DISCONTINUED OPERATIONS (Summary of (Losses) Gains from Discontinued Operations) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total gain (losses) from discontinued operations, net of tax	$ 0	$ 3	$ (2)	$ (1)	$ 2	$ 30	$ (3)	$ (55)	$ 0	$ (26)	$ (21)
Unrecognized tax benefits
Gross unrecognized tax benefits recognized upon the expiration of the applicable statute of limitations									4	34	1
Clorox Venezuela [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales									0	11	77
Operating losses from discontinued operations before income taxes									0	(6)	(23)
Exit costs and other related expense									(2)	(78)	0
Total losses from discontinued operations before income taxes									(2)	(84)	(23)
Income tax benefit attributable to discontinued operations									2	29	6
Total gain (losses) from discontinued operations, net of tax									0	(55)	(17)
Other Discontinued Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total gain (losses) from discontinued operations, net of tax									$ 0	29	$ (4)
Unrecognized tax benefits
Gross unrecognized tax benefits recognized upon the expiration of the applicable statute of limitations										$ 32

DISCONTINUED OPERATIONS (Summ56

DISCONTINUED OPERATIONS (Summary of Operating Losses, Asset Charges and Other Costs) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total gain (losses) from discontinued operations, net of tax	$ 0	$ 3	$ (2)	$ (1)	$ 2	$ 30	$ (3)	$ (55)	$ 0	$ (26)	$ (21)
Clorox Venezuela [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Operating losses before income taxes									0	(6)	(23)
Total losses from discontinued operations before income taxes									(2)	(84)	(23)
Income tax benefit attributable to discontinued operations									2	29	6
Total gain (losses) from discontinued operations, net of tax									0	(55)	(17)
Net asset charges:
Inventories									0	(11)
Property, plant and equipment									0	(16)
Trademark and other intangible assets									0	(6)
Other assets									0	(2)
Other exit and business termination costs:
Severance									0	(3)
Recognition of deferred foreign currency translation loss									0	(30)
Other									(2)	(10)
Other Discontinued Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total gain (losses) from discontinued operations, net of tax									$ 0	$ 29	$ (4)

DISCONTINUED OPERATIONS (Narrat

DISCONTINUED OPERATIONS (Narrative) (Details) - Clorox Venezuela [Member] - USD ($) $ in Millions	Jun. 30, 2016	Jun. 30, 2015
Major Classes of Remaining Assets and Liabilities
Net asset position	$ 0	$ 0
Corporate [Member]
Major Classes of Remaining Assets and Liabilities
Tax asset balances	$ 0	$ 13

BUSINESSES ACQUIRED (Details)

BUSINESSES ACQUIRED (Details) - USD ($) $ in Millions	2 Months Ended	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014	May 02, 2016
Business Acquisition [Line Items]
Amount paid for acquisition		$ 290	$ 0	$ 0
Net sales		5,761	5,655	5,514
Estimated fair values of assets acquired and liabilities assumed and related deferred income taxes as of the acquisition date:
Goodwill	$ 1,197	$ 1,197	$ 1,067	$ 1,101
Renew Life [Member]
Business Acquisition [Line Items]
Business acquisition date		May 2, 2016
Percentage of business acquired					100.00%
Amount paid for acquisition		$ 290
Net sales	$ 21
The weighted-average estimated useful life of intangible assets subject to amortization		15 years
Estimated fair values of assets acquired and liabilities assumed and related deferred income taxes as of the acquisition date:
Goodwill					$ 137
Property, plant and equipment					3
Working capital, net					41
Deferred income taxes					(61)
Purchase price					290
Renew Life [Member] | Customer Relationships [Member]
Estimated fair values of assets acquired and liabilities assumed and related deferred income taxes as of the acquisition date:
Other intangible assets					36
Renew Life [Member] | Trademarks [Member]
Estimated fair values of assets acquired and liabilities assumed and related deferred income taxes as of the acquisition date:
Other intangible assets					$ 134

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Inventory Disclosure [Abstract]
Finished goods	$ 361	$ 316
Raw materials and packaging	111	101
Work in process	3	3
LIFO allowances	(32)	(35)
Total	$ 443	$ 385
Percentage of inventory valued with the LIFO method	38.00%	38.00%
Effect on earnings of the liquidation of LIFO layers	$ 0	$ 0	$ 2

OTHER CURRENT ASSETS (Details)

OTHER CURRENT ASSETS (Details) - USD ($) $ in Millions		Jun. 30, 2016	Jun. 30, 2015
Restricted Cash and Cash Equivalents Items [Line Items]
Deferred tax assets	[1]	$ 0	$ 99
Prepaid expenses		70	39
Other		2	5
Total		$ 72	$ 143
[1]	The Company prospectively adopted ASU No. 2015-17 "Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes" requiring all deferred tax assets and liabilities to be classified as noncurrent. See Note 1 and 18 for further details.

PROPERTY, PLANT AND EQUIPMENT61

PROPERTY, PLANT AND EQUIPMENT, NET (Details) $ in Millions	12 Months Ended
	Jun. 30, 2016USD ($)item	Jun. 30, 2015USD ($)item	Jun. 30, 2014USD ($)
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 2,817	$ 2,757
Less: accumulated depreciation and amortization	(1,911)	(1,839)
Total	906	918
Depreciation and amortization expense related to property, plant and equipment, net	157	157	$ 161
Non-cash capital expenditures	10	18	0
Machinery and equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment	1,607	1,608
Buildings [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment	524	515
Capitalized software costs [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment	368	371
Amortization	16	19	$ 22
Land improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment	118	122
Asset retirement obligations	$ 3	$ 2
Number of leased properties | item	2	2
Asset retirement obligation liabilities incurred	$ 1	$ 2
Construction in progress [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment	112	65
Computer equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment	88	76
Equipment held under capital leases [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment	12	12
Less: accumulated depreciation and amortization	$ (3)	$ (2)

GOODWILL, TRADEMARKS AND OTHE62

GOODWILL, TRADEMARKS AND OTHER INTANGIBLE ASSETS (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Finite-Lived Intangible Assets [Line Items]
Amortization expense of intangible assets	$ 8	$ 12	$ 15
Future amortization expense:
2,017	10
2,018	9
2,019	9
2,020	9
2,021	8
Indefinite-lived Intangible Assets [Line Items]
Intangible assets impairment charge	$ 9
Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Useful life	2 years
Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Useful life	30 years
Trademarks [Member]
Indefinite-lived Intangible Assets [Line Items]
Trademark impairment	$ 6

GOODWILL, TRADEMARKS AND OTHE63

GOODWILL, TRADEMARKS AND OTHER INTANGIBLE ASSETS (Schedule of Goodwill) (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Goodwill [Line Items]
Goodwill, beginning balance	$ 1,067	$ 1,101
Acquisition	137
Effect of foreign currency translation	(7)	(34)
Goodwill, ending balance	1,197	1,067
Cleaning [Member]
Goodwill [Line Items]
Goodwill, beginning balance	323	323
Acquisition	0
Effect of foreign currency translation	0	0
Goodwill, ending balance	323	323
Lifestyle [Member]
Goodwill [Line Items]
Goodwill, beginning balance	244	244
Acquisition	0
Effect of foreign currency translation	0	0
Goodwill, ending balance	244	244
Household [Member]
Goodwill [Line Items]
Goodwill, beginning balance	85	85
Acquisition	122
Effect of foreign currency translation	0	0
Goodwill, ending balance	207	85
International [Member]
Goodwill [Line Items]
Goodwill, beginning balance	415	449
Acquisition	15
Effect of foreign currency translation	(7)	(34)
Goodwill, ending balance	$ 423	$ 415

GOODWILL, TRADEMARKS AND OTHE64

GOODWILL, TRADEMARKS AND OTHER INTANGIBLE ASSETS (Schedule of Intangible Assets, Excluding Goodwill) (Details) - USD ($) $ in Millions	Jun. 30, 2016	Jun. 30, 2015
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 1,037	$ 882
Accumulated amortization	302	297
Net carrying amount	735	585
Technology And product formulae [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	137	137
Accumulated amortization	134	133
Net carrying amount	3	4
Other [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	221	188
Accumulated amortization	146	142
Net carrying amount	75	46
Trademarks [Member]
Indefinite-lived Intangible Assets [Line Items]
Trademarks not subject to amortization	647	524
Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	32	33
Accumulated amortization	22	22
Net carrying amount	$ 10	$ 11

ACCOUNTS PAYABLE AND ACCRUED 65

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Details) - USD ($) $ in Millions		Jun. 30, 2016	Jun. 30, 2015
Accounts Payable and Accrued Liabilities, Current [Abstract]
Accounts payable		$ 490	$ 431
Compensation and employee benefit costs		192	189
Trade and sales promotion		127	115
Dividends		108	103
Other		118	141
Total	[1]	$ 1,035	$ 979
[1]	Accounts payable and accrued liabilities were combined into one financial statement line as of June 30, 2016. The change has been retrospectively applied to all periods presented.

DEBT (Narrative) (Details)

DEBT (Narrative) (Details) - USD ($) $ in Millions	1 Months Ended			12 Months Ended
	Nov. 30, 2015	Jan. 31, 2015	Dec. 31, 2014	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Long-term and Short-term Debt [Line Items]
Long-term debt repayments				$ 300	$ 575	$ 0
Weighted average interest rate on notes and loans payable				1.10%	2.05%	0.97%
Weighted average interest rates on long-term debt, including the effect of interest rate swaps				4.37%	4.44%	4.56%
Weighted average effective interest rates on long-term debt				4.41%	4.31%
Line of credit facility, borrowing capacity				$ 1,128	$ 1,129
Long-term debt maturities:
2,017				0
2,018				400
2,019				0
2,020				0
2,021				0
Thereafter				$ 1,400
Commercial Paper [Member]
Long-term and Short-term Debt [Line Items]
Weighted average effective interest rate on short-term debt				0.82%	0.39%
Revolving Line of Credit [Member]
Long-term and Short-term Debt [Line Items]
Line of credit facility, expiration date				Oct. 1, 2019
Line of credit facility, borrowing capacity				$ 1,100	$ 1,100
Line of credit facility, amount outstanding				0	0
Foreign and Other Credit Lines [Member]
Long-term and Short-term Debt [Line Items]
Line of credit facility, borrowing capacity				28	29
Line of credit facility, amount outstanding				5	4
Line of credit facility, remaining borrowing capacity				$ 23	$ 25
Senior notes with an annual fixed interest rate of 3.55% [Member]
Long-term and Short-term Debt [Line Items]
Long-term debt repayments	$ 300
Fixed interest rate	3.55%
Senior notes with an annual fixed interest rate of 3.50% [Member]
Long-term and Short-term Debt [Line Items]
Long-term debt issuance			$ 500
Long-term debt maturity date			Dec. 15, 2024
Long-term debt payment terms			Interest on the notes is payable semi-annually in June and December
Fixed interest rate			3.50%
Effective interest rate (as a percent)			4.10%
Senior notes with an annual fixed interest rate of 5.00% [Member]
Long-term and Short-term Debt [Line Items]
Long-term debt repayments		$ 575
Fixed interest rate		5.00%

DEBT (Notes and Loans Payable)

DEBT (Notes and Loans Payable) (Details) - USD ($) $ in Millions	Jun. 30, 2016	Jun. 30, 2015
Short-term Debt [Line Items]
Notes and loans payable	$ 523	$ 95
Commercial Paper [Member]
Short-term Debt [Line Items]
Notes and loans payable	522	93
Foreign Borrowings [Member]
Short-term Debt [Line Items]
Notes and loans payable	$ 1	$ 2

DEBT (Long-term Debt, Net of Un

DEBT (Long-term Debt, Net of Unamortized Discounts or Premiums) (Details) - USD ($) $ in Millions	Jun. 30, 2016	Jun. 30, 2015
Debt Instrument [Line Items]
Weighted average interest rate on long-term debt	4.41%	4.31%
Long-term debt	$ 1,797	$ 2,096
Less: Current maturities of long-term debt	0	(300)
Long-term debt, noncurrent	$ 1,797	$ 1,796
Senior Unsecured Long-Term Notes and Debentures; 3.55%, $300 Due November 2015 [Member]
Debt Instrument [Line Items]
Weighted average interest rate on long-term debt	3.55%	3.55%
Face value	$ 300	$ 300
Long-term debt	$ 0	$ 300
Senior Unsecured Long-Term Notes and Debentures; 5.95%, $400 Due October 2017 [Member]
Debt Instrument [Line Items]
Weighted average interest rate on long-term debt	5.95%	5.95%
Face value	$ 400	$ 400
Long-term debt	$ 400	$ 399
Senior Unsecured Long-Term Notes and Debentures; 3.80%, $300 Due November 2021 [Member]
Debt Instrument [Line Items]
Weighted average interest rate on long-term debt	3.80%	3.80%
Face value	$ 300	$ 300
Long-term debt	$ 298	$ 298
Senior Unsecured Long-Term Notes and Debentures; 3.05%, $600 Due November 2022 [Member]
Debt Instrument [Line Items]
Weighted average interest rate on long-term debt	3.05%	3.05%
Face value	$ 600	$ 600
Long-term debt	$ 599	$ 599
Senior Unsecured Long-Term Notes and Debentures; 3.50%, $500 Due December 2024 [Member]
Debt Instrument [Line Items]
Weighted average interest rate on long-term debt	3.50%	3.50%
Face value	$ 500	$ 500
Long-term debt	$ 500	$ 500

DEBT (Borrowing Capacity Under

DEBT (Borrowing Capacity Under Other Financing Arrangements) (Details) - USD ($) $ in Millions	Jun. 30, 2016	Jun. 30, 2015
Line of Credit Facility [Line Items]
Line of credit facility, borrowing capacity	$ 1,128	$ 1,129
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of credit facility, borrowing capacity	1,100	1,100
Foreign Credit Lines [Member]
Line of Credit Facility [Line Items]
Line of credit facility, borrowing capacity	10	11
Other Credit Lines [Member]
Line of Credit Facility [Line Items]
Line of credit facility, borrowing capacity	$ 18	$ 18

OTHER LIABILITIES (Details)

OTHER LIABILITIES (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Dec. 31, 2012	Jun. 30, 2016	Jun. 30, 2015
Other Liabilities Disclosure [Abstract]
Employee benefit obligations		$ 335	$ 299
Venture agreement terminal obligation, net		302	294
Taxes		40	38
Other		107	119
Total		$ 784	$ 750
Interest in the joint venture by venture partner		20.00%	20.00%
Venture agreement renewal option		10 years
Venture agreement terminal obligation		$ 448
Proceeds from sale-leasebacks, net of transaction costs	$ 108
Lease term	15 years
Deferred gain on sale-lease back, noncurrent portion		$ 36	$ 40

FINANCIAL INSTRUMENTS AND FAI71

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Derivative [Line Items]
Non-qualified deferred compensation plan assets, changes in fair value of trust assets	$ 14
Settlement of interest rate forward contracts	0	$ 25	$ 0
Payment to settle interest rate forward contracts		25
Derivatives	5	8
Derivative instruments subject to contractually defined counterparty liability position limits	4	8
Estimated amount of the existing net loss to be reclassified into earnings in the next 12 months	$ (11)
Senior notes with an annual fixed interest rate of 3.50% [Member]
Derivative [Line Items]
Debt issued				$ 500
Commodity purchase derivative contracts [Member]
Derivative [Line Items]
Maximum contract duration	2 years
Notional amounts	$ 30	47
Cash margin balances amount	1	2
Commodity purchase derivative contracts [Member] | Jet Fuel [Member]
Derivative [Line Items]
Notional amounts	16	27
Commodity purchase derivative contracts [Member] | Soybean Oil [Member]
Derivative [Line Items]
Notional amounts	$ 14	20
Foreign exchange derivative contracts [Member]
Derivative [Line Items]
Maximum contract duration	2 years
Notional amounts	$ 84	105
Interest rate derivative contracts [Member]
Derivative [Line Items]
Notional amounts		$ 0
Amortization period of settlement payment	10 years

FINANCIAL INSTRUMENTS AND FAI72

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Schedule of Financial Instruments Measured at Fair Value) (Details) - USD ($) $ in Millions		Jun. 30, 2016	Jun. 30, 2015
Carrying Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Assets		$ 368	$ 335
Liabilities		2,325	2,199
Estimated Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Assets		368	335
Liabilities		2,450	2,240
Cash and Cash Equivalents [Member] | Level 1 [Member] | Carrying Value [Member] | Investments including money market funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Assets	[1]	234	212
Cash and Cash Equivalents [Member] | Level 1 [Member] | Estimated Fair Value [Member] | Investments including money market funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Assets	[1]	234	212
Cash and Cash Equivalents [Member] | Level 2 [Member] | Carrying Value [Member] | Time Deposits [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Assets	[1]	79	84
Cash and Cash Equivalents [Member] | Level 2 [Member] | Estimated Fair Value [Member] | Time Deposits [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Assets	[1]	79	84
Other Current Assets [Member] | Level 1 [Member] | Carrying Value [Member] | Commodity purchase derivative contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Derivative assets designated as hedging instruments		1	0
Other Current Assets [Member] | Level 1 [Member] | Estimated Fair Value [Member] | Commodity purchase derivative contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Derivative assets designated as hedging instruments		1	0
Other Current Assets [Member] | Level 2 [Member] | Carrying Value [Member] | Foreign exchange derivative contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Derivative assets designated as hedging instruments		1	1
Other Current Assets [Member] | Level 2 [Member] | Estimated Fair Value [Member] | Foreign exchange derivative contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Derivative assets designated as hedging instruments		1	1
Other assets [Member] | Level 1 [Member] | Carrying Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Trust assets for nonqualified deferred compensation plans		52	38
Other assets [Member] | Level 1 [Member] | Estimated Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Trust assets for nonqualified deferred compensation plans		52	38
Other assets [Member] | Level 2 [Member] | Carrying Value [Member] | Commodity purchase derivative contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Derivative assets designated as hedging instruments		1	0
Other assets [Member] | Level 2 [Member] | Estimated Fair Value [Member] | Commodity purchase derivative contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Derivative assets designated as hedging instruments		1	0
Notes and loans payable [Member] | Level 2 [Member] | Carrying Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Liabilities	[2]	523	95
Notes and loans payable [Member] | Level 2 [Member] | Estimated Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Liabilities	[2]	523	95
Accounts Payable and Accrued Liabilities [Member] | Level 2 [Member] | Carrying Value [Member] | Commodity purchase derivative contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Derivative liabilities designated as hedging instruments		1	8
Accounts Payable and Accrued Liabilities [Member] | Level 2 [Member] | Carrying Value [Member] | Foreign exchange derivative contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Derivative liabilities designated as hedging instruments		4	0
Accounts Payable and Accrued Liabilities [Member] | Level 2 [Member] | Estimated Fair Value [Member] | Commodity purchase derivative contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Derivative liabilities designated as hedging instruments		1	8
Accounts Payable and Accrued Liabilities [Member] | Level 2 [Member] | Estimated Fair Value [Member] | Foreign exchange derivative contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Derivative liabilities designated as hedging instruments		4	0
Other Liabilities [Member] | Level 2 [Member] | Carrying Value [Member] | Current maturities of long-term debt and Long-term debt [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Liabilities	[3]	1,797	2,096
Other Liabilities [Member] | Level 2 [Member] | Estimated Fair Value [Member] | Current maturities of long-term debt and Long-term debt [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Liabilities	[3]	$ 1,922	$ 2,137
[1]	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.
[2]	Notes and loan payable is composed of U.S. commercial paper and/or other similar short-term debts issued by non-U.S. subsidiaries, all of which are recorded at cost, which approximates fair value.
[3]	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.

FINANCIAL INSTRUMENTS AND FAI73

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Schedule of the Effects of Derivative Instruments Designated as Hedging Instruments) (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in other comprehensive net loss	$ (7)	$ (18)	$ (14)
Gains (losses) reclassified from accumulated other comprehensive net loss and recognized in net earnings	(18)	(7)	0
Commodity purchase derivative contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in other comprehensive net loss	(4)	(13)	2
Gains (losses) reclassified from accumulated other comprehensive net loss and recognized in net earnings	(13)	(5)	0
Interest rate derivative contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in other comprehensive net loss	0	(12)	(13)
Gains (losses) reclassified from accumulated other comprehensive net loss and recognized in net earnings	(6)	(5)	(4)
Foreign exchange derivative contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in other comprehensive net loss	(3)	7	(3)
Gains (losses) reclassified from accumulated other comprehensive net loss and recognized in net earnings	$ 1	$ 3	$ 4

OTHER CONTINGENCIES AND GUARA74

OTHER CONTINGENCIES AND GUARANTEES (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
OTHER CONTINGENCIES AND GUARANTEES [Abstract]
Liability for aggregate future remediation costs	$ 14	$ 12
Percentage of liability for aggregate remediation and associated costs, other than legal fees	24.30%
Remediation period	30 years
Letter of credit	$ 10	11
Letter of credit, amount outstanding	$ 0	$ 0

LEASES AND OTHER COMMITMENTS (D

LEASES AND OTHER COMMITMENTS (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
LEASES AND OTHER COMMITMENTS [Abstract]
Rent expense for all operating leases	$ 77	$ 76	$ 71
Operating leases:
2,017	49
2,018	45
2,019	38
2,020	32
2,021	29
Thereafter	135
Total	328
Capital leases:
2,017	3
2,018	2
2,019	1
2,020	0
2,021	0
Thereafter	0
Total	6
Future purchase obligation:
2,017	150
2,018	54
2,019	37
2,020	12
2,021	2
Thereafter	1
Total	$ 256

STOCKHOLDERS' EQUITY (Share Rep

STOCKHOLDERS' EQUITY (Share Repurchase Programs) (Details) - USD ($) shares in Thousands, $ in Millions	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Share Repurchase Programs [Line Items]
Value of shares repurchased	$ 254	$ 434	$ 260
Shares repurchased	2,151	4,016	3,046
Open-market program [Member]
Share Repurchase Programs [Line Items]
Authorized repurchase amount	$ 750	$ 750
Remaining authorized repurchase amount	750	750
Value of shares repurchased	$ 0	$ 0	$ 0
Shares repurchased	0	0	0
Evergreen Program [Member]
Share Repurchase Programs [Line Items]
Value of shares repurchased	$ 254	$ 434	$ 260
Shares repurchased	2,151	4,016	3,046

STOCKHOLDERS' EQUITY (Common St

STOCKHOLDERS' EQUITY (Common Stock Dividends) (Details) - $ / shares	3 Months Ended								12 Months Ended
	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Stockholders' Equity Note [Abstract]
Dividends declared per common share	$ 0.80	$ 0.77	$ 0.77	$ 0.77	$ 0.77	$ 0.74	$ 0.74	$ 0.74	$ 3.11	$ 2.99	$ 2.87
Dividends paid per common share									$ 3.08	$ 2.96	$ 2.84

STOCKHOLDERS' EQUITY (Schedule

STOCKHOLDERS' EQUITY (Schedule of Changes in Accumulated Other Comprehensive Net (Losses) (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance, beginning	$ (502)	$ (417)	$ (367)
Other comprehensive (loss) income before reclassifications	(88)	(139)	(57)
Amounts reclassified from accumulated other comprehensive net losses	18	7	8
Recognition of deferred foreign currency translation loss		30
Income tax benefit (expense)	2	17	(1)
Net current period other comprehensive income (loss)	(68)	(85)	(50)
Balance, ending	(570)	(502)	(417)
Foreign currency adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance, beginning	(300)	(246)	(209)
Other comprehensive (loss) income before reclassifications	(43)	(92)	(26)
Amounts reclassified from accumulated other comprehensive net losses	0	0	0
Recognition of deferred foreign currency translation loss		30
Income tax benefit (expense)	(10)	8	(11)
Net current period other comprehensive income (loss)	(53)	(54)	(37)
Balance, ending	(353)	(300)	(246)
Net unrealized gain (losses) on derivatives [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance, beginning	(53)	(39)	(30)
Other comprehensive (loss) income before reclassifications	(7)	(18)	(15)
Amounts reclassified from accumulated other comprehensive net losses	18	7	0
Recognition of deferred foreign currency translation loss		0
Income tax benefit (expense)	(2)	(3)	6
Net current period other comprehensive income (loss)	9	(14)	(9)
Balance, ending	(44)	(53)	(39)
Pension and postretirement benefit adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance, beginning	(149)	(132)	(128)
Other comprehensive (loss) income before reclassifications	(38)	(29)	(16)
Amounts reclassified from accumulated other comprehensive net losses	0	0	8
Recognition of deferred foreign currency translation loss		0
Income tax benefit (expense)	14	12	4
Net current period other comprehensive income (loss)	(24)	(17)	(4)
Balance, ending	$ (173)	$ (149)	$ (132)

STOCKHOLDERS' EQUITY (Narrative

STOCKHOLDERS' EQUITY (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Long term intercompany loans [Member]
Intercompany Foreign Currency Balance [Line Items]
Other comprehensive loss before reclassifications	$ 14	$ 9	$ 12

NET EARNINGS PER SHARE (EPS) (D

NET EARNINGS PER SHARE (EPS) (Details) - shares shares in Thousands	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Earnings Per Share [Abstract]
Weighted Average Shares Outstanding - Basic	129,472	130,310	129,558
Dilutive effect of stock options and other	2,245	2,466	2,184
Weighted Average Shares Outstanding - Diluted	131,717	132,776	131,742
Antidilutive shares excluded from calculation of diluted net EPS	42	23	0

STOCK-BASED COMPENSATION PLAN81

STOCK-BASED COMPENSATION PLANS (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	12 Months Ended
	Nov. 30, 2012	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation plans, shares authorized to issue		8,000,000
Common shares available for grant		8,000,000
Stock option plan, additional shares authorized	3,000,000
Cash received from stock options exercised		$ 180	$ 230	$ 86
Additional compensation expense, target cap		150.00%
Deferred Stock Units for Nonemployee Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred stock units for nonemployee directors granted		13,000
Deferred stock units for nonemployee directors reinvested dividends		6,000
Deferred stock units for nonemployee directors distributed		16,000
Deferred stock units for nonemployee directors granted weighted average fair value on grant date		$ 126.65
Deferred stock units for nonemployee directors reinvested weighted average fair value on grant date		124.03
Deferred stock units for nonemployee directors distributed weighted average fair value on grant date		$ 62.70
Deferred stock units for nonemployee directors outstanding		244,000
Deferred stock units for nonemployee directors outstanding weighted average fair value on grant date		$ 71.13
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average fair value per share of options or awards granted		$ 13.21	$ 9.65	$ 9.69
Intrinsic value of options exercised		$ 142	$ 140	$ 42
Vesting period		4 years
Expiration period		10 years
Unrecognized compensation cost		$ 16
Unrecognized compensation cost, weighted-average period for recognition		1 year
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost		$ 1
Unrecognized compensation cost, weighted-average period for recognition		1 year
Weighted-average grant date fair value		$ 128.91	$ 95.67	$ 89.25
Nonvested awards outstanding		13,000	18,000
Weighted-average grant date fair value per share of nonvested awards		$ 108	$ 91
Awards vested		9,000
Fair value of shares vested		$ 1	$ 1	$ 1
Restricted Stock [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		3 years
Restricted Stock [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		4 years
Performance Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost		$ 37
Unrecognized compensation cost, weighted-average period for recognition		1 year
Weighted-average grant date fair value		$ 92.35	$ 89.75	$ 84.45
Nonvested awards outstanding		794,000	944,000
Weighted-average grant date fair value per share of nonvested awards		$ 95.18	$ 81.92
Awards vested		354,000
Weighted-average grant date fair value per share of vested awards		$ 72.11
Fair value of shares vested		$ 26	$ 24	$ 0
Vested awards paid by the issuance of shares		25
Vested stock awards deferred		$ 1

STOCK-BASED COMPENSATION PLAN82

STOCK-BASED COMPENSATION PLANS (Compensation Cost and Related Income Tax Benefit) (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation	$ 45	$ 32	$ 36
Related income tax benefit	17	12	13
Cost of products sold [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation	6	4	4
Selling and administrative expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation	35	25	29
Research and development costs [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation	$ 4	$ 3	$ 3

STOCK-BASED COMPENSATION PLAN83

STOCK-BASED COMPENSATION PLANS (Assumptions Utilized in the Valuation in Calculating the Compensation Expense for Stock Options Granted) (Details)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation [Abstract]
Expected life, minimum		5 years 7 months 6 days
Expected life, maximum		5 years 9 months 18 days
Expected life	5 years 7 months 6 days		5 years 8 months 12 days
Weighted average expected life	5 years 7 months 6 days	5 years 8 months 12 days	5 years 8 months 12 days
Expected volatility, minimum	16.43%	16.30%	18.40%
Expected volatility, maximum	17.30%	18.60%	18.50%
Weighted-average volatility	17.20%	16.60%	18.50%
Risk-free interest rate, minimum	1.30%	1.40%	1.80%
Risk-free interest rate, maximum	1.70%	2.00%	1.90%
Weighted-average risk-free interest rate	1.70%	1.90%	1.80%
Dividend yield, minimum	2.50%	2.80%
Dividend yield, maximum	2.80%	3.40%
Dividend yield			3.40%
Weighted-average dividend yield	2.80%	3.30%	3.40%

STOCK-BASED COMPENSATION PLAN84

STOCK-BASED COMPENSATION PLANS (Summary of Stock Option Activity) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Number of Shares
Outstanding, beginning balance	8,357
Granted	1,317
Exercised	(2,633)
Cancelled	(214)
Outstanding, ending balance	6,827	8,357
Options vested	3,555
Weighted-Average Exercise Price per Share
Outstanding, beginning balance	$ 76
Granted	112
Exercised	69
Cancelled	95
Outstanding, ending balance	85	$ 76
Options vested	$ 74
Average remaining contractual life of options outstanding	7 years	7 years
Average remaining contractual life of options vested	5 years
Aggregate Intrinsic Value
Options outstanding	$ 366	$ 236
Options vested	$ 228

STOCK-BASED COMPENSATION PLAN85

STOCK-BASED COMPENSATION PLANS (Summary of Restricted Stock Award Activity) (Details) - Restricted Stock [Member] - $ / shares shares in Thousands	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Number of Shares
Outstanding, beginning balance	18
Granted	5
Vested	(9)
Forfeited	(1)
Outstanding, ending balance	13	18
Weighted-Average Grant Date Fair Value
Outstanding, beginning balance	$ 91
Granted	128.91	$ 95.67	$ 89.25
Vested	88
Forfeited	106
Outstanding, ending balance	$ 108	$ 91

STOCK-BASED COMPENSATION PLAN86

STOCK-BASED COMPENSATION PLANS (Summary of Performance Stock Award Activity) (Details) - Performance Units [Member] - $ / shares shares in Thousands	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Number of Shares
Outstanding, beginning balance	1,123
Granted	286
Distributed	(377)
Forfeited	(80)
Outstanding, ending balance	952	1,123
Vested and deferred	157
Weighted-Average Grant Date Fair Value
Outstanding, beginning balance	$ 79
Granted	92.35	$ 89.75	$ 84.45
Distributed	70
Forfeited	87
Outstanding, ending balance	90	$ 79
Vested and deferred	$ 58

OTHER (INCOME) EXPENSE, NET (De

OTHER (INCOME) EXPENSE, NET (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Other Income and Expenses [Abstract]
Income from equity investees	$ (15)	$ (14)	$ (13)
Interest Income	(5)	(4)	(3)
Low income housing partnership gains, net	0	(13)	0
Foreign exchange transaction losses, net	1	9	1
Amortization of trademarks and other intangible assets	8	8	8
Intangible asset impairment charges	9	3	3
Other	(5)	(2)	(6)
Total	(7)	(13)	$ (10)
Cash proceeds from sale of property	20	15
Gain on sale of property	11	$ 14
Trademarks [Member]
Indefinite-lived Intangible Assets [Line Items]
Trademark impairment	$ 6

INCOME TAXES (Narrative) (Detai

INCOME TAXES (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Tax Credit and Operating Loss Carryforwards [Line Items]
Undistributed earning of certain foreign subsidiaries	$ 216
Federal income tax liability on unremitted earnings	56
Realized and recorded excess tax benefits	$ 51	$ 42	$ 11
Open tax year	2,012
Accrued interest and penalties related to uncertain tax positions	$ 3	10
Interest and penalties of income tax expense (benefit)	(1)	(1)	3
Potential benefits which, if recognized, would affect the effective tax rate on earnings	27	27	58
Unrecognized tax benefits
Gross unrecognized tax benefits recognized upon the expiration of the applicable statute of limitations	$ 4	34	$ 1
Other Discontinued Operations [Member]
Unrecognized tax benefits
Gross unrecognized tax benefits recognized upon the expiration of the applicable statute of limitations		$ 32
U.S. [Member] | Earliest tax year [Member]
Tax Credit and Operating Loss Carryforwards [Line Items]
Tax credit carryforwards, expiration	Jun. 30, 2024
U.S. [Member] | Latest tax year [Member]
Tax Credit and Operating Loss Carryforwards [Line Items]
Tax credit carryforwards, expiration	Jun. 30, 2025
Foreign [Member] | Subject to Expiration [Member]
Tax Credit and Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 16
Foreign [Member] | Latest tax year [Member] | Subject to Expiration [Member]
Tax Credit and Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards, expiration	Jun. 30, 2036
Foreign [Member] | Not Subject to Expiration [Member]
Tax Credit and Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 12
Foreign [Member] | Earliest tax year [Member] | Subject to Expiration [Member]
Tax Credit and Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards, expiration	Jun. 30, 2017
Foreign Tax Credit Carryforward [Member] | U.S. [Member]
Tax Credit and Operating Loss Carryforwards [Line Items]
Tax credit carryforwards	$ 15
Foreign Tax Credit Carryforward [Member] | Foreign [Member]
Tax Credit and Operating Loss Carryforwards [Line Items]
Tax credit carryforwards	$ 19
Tax credit carryforwards, expiration	Jun. 30, 2031
Foreign Tax Credit Carryforward [Member] | Foreign [Member] | Not Subject to Expiration [Member]
Tax Credit and Operating Loss Carryforwards [Line Items]
Tax credit carryforwards	$ 1

INCOME TAXES (Provision for Inc

INCOME TAXES (Provision for Income Taxes by Tax Jurisdiction and Domestic and Foreign Earnings before Taxes) (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Current
Federal	$ 254	$ 265	$ 247
State	31	28	34
Foreign	45	38	45
Total current	330	331	326
Deferred
Federal	11	(13)	(19)
State	1	(1)	2
Foreign	(7)	(2)	(4)
Total deferred	5	(16)	(21)
Total	335	315	305
Earnings from continuing operations before income taxes
United States	900	829	754
Foreign	83	92	130
Earnings from continuing operations before income taxes	$ 983	$ 921	$ 884

INCOME TAXES (Effective Income

INCOME TAXES (Effective Income Tax Rate Reconciliation) (Details)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Income Tax Disclosure [Abstract]
Statutory federal tax rate	35.00%	35.00%	35.00%
State taxes (net of federal tax benefits)	2.10%	2.10%	2.60%
Tax differential on foreign earnings	0.50%	(0.30%)	(0.30%)
Domestic manufacturing deduction	(2.40%)	(2.10%)	(2.30%)
Change in valuation allowance	0.50%	0.60%	0.60%
Other differences	(1.60%)	(1.10%)	(1.00%)
Effective tax rate	34.10%	34.20%	34.60%

INCOME TAXES (Components of Net

INCOME TAXES (Components of Net Deferred Tax Assets) (Details) - USD ($) $ in Millions		Jun. 30, 2016		Jun. 30, 2015		Jun. 30, 2014
Deferred tax assets
Compensation and benefit programs	[1]	$ 193		$ 191
Basis difference related to Venture Agreement	[1]	30		30
Accruals and reserves	[1]	34		43
Inventory costs	[1]	21		19
Net operating loss and tax credit carryforwards	[1]	48		41
Other	[1]	54		61
Subtotal	[1]	380		385
Valuation allowance		(37)	[1]	(34)	[1]	$ (51)
Total deferred tax assets	[1]	343		351
Deferred tax liabilities
Fixed and intangible assets	[1]	(325)		(277)
Low-income housing partnerships	[1]	(23)		(22)
Unremitted foreign earnings	[1]	(16)		(7)
Other	[1]	(25)		(24)
Total deferred tax liabilities	[1]	(389)		(330)
Net deferred tax assets (liabilities)	[1]	$ (46)		$ 21
[1]	The Company prospectively adopted ASU No. 2015-17 "Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes" requiring all deferred tax assets and liabilities to be classified as noncurrent. See Note 1 for further details.

INCOME TAXES (Valuation Allowan

INCOME TAXES (Valuation Allowance) (Details) - USD ($) $ in Millions		12 Months Ended
		Jun. 30, 2016		Jun. 30, 2015
Income Tax Disclosure [Abstract]
Valuation allowance at beginning of year		$ (34)	[1]	$ (51)
Net decrease/(increase) for other foreign deferred tax assets		3		15
Net decrease/(increase) for foreign net operating loss carryforwards and tax credits		(6)		2
Valuation allowance at end of year	[1]	$ (37)		$ (34)
[1]	The Company prospectively adopted ASU No. 2015-17 "Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes" requiring all deferred tax assets and liabilities to be classified as noncurrent. See Note 1 for further details.

INCOME TAXES (Unrecognized Tax

INCOME TAXES (Unrecognized Tax Benefits) (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Income Tax Disclosure [Abstract]
Unrecognized tax benefits at beginning of year	$ 38	$ 71	$ 69
Gross increases - tax positions in prior periods	3	3	3
Gross decreases - tax positions in prior periods	(3)	(8)	(5)
Gross increases - current period tax positions	8	6	7
Gross decreases - current period tax positions	0	0	0
Lapse of applicable statute of limitations	(4)	(34)	(1)
Settlements	(5)	0	(2)
Unrecognized tax benefits at end of year	$ 37	$ 38	$ 71

EMPLOYEE BENEFIT PLANS (Narrati

EMPLOYEE BENEFIT PLANS (Narrative) (Details) $ in Millions	Jul. 07, 2016USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)item	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation			$ 596	$ 559	$ 563
Defined Contribution Plan Disclosure [Line Items]
Aggregate cost of the defined contribution plans			45	45	43
Company 401(k) plan [Member]
Defined Contribution Plan Disclosure [Line Items]
Aggregate cost of the defined contribution plans			41	42	38
International Defined Contribution Plan [Member]
Defined Contribution Plan Disclosure [Line Items]
Aggregate cost of the defined contribution plans			3	3	3
Domestic Qualified Retirement Income Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Discretionary contributions			15	0	0
Domestic Qualified Retirement Income Plans [Member] | Subsequent Event [Member]
Defined Benefit Plan Disclosure [Line Items]
Discretionary contributions	$ 15
Domestic Non-Qualified Retirement Income Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Discretionary contributions			$ 16	$ 13	$ 13
Medical [Member]
Defined Benefit Plan Disclosure [Line Items]
Assumed ultimate trend			6.75%
Prescription Drugs [Member]
Defined Benefit Plan Disclosure [Line Items]
Assumed ultimate trend			6.75%
Retirement Health Care Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Assumed ultimate trend			4.50%
Ultimate trend, year reached			2,037
Basis point increase | item			100
Retirement Health Care Plan [Member] | Scenario, Forecast [Member]
Defined Benefit Plan Disclosure [Line Items]
Net actuarial gains (losses) as a component of net periodic benefit cost		$ 1
Retirement Income Plan [Member] | Scenario, Forecast [Member]
Defined Benefit Plan Disclosure [Line Items]
Net actuarial gains (losses) as a component of net periodic benefit cost		$ (11)

EMPLOYEE BENEFIT PLANS (Summari

EMPLOYEE BENEFIT PLANS (Summarized Information for Defined Benefit Retirement Income and Healthcare Plans) (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Change in plan assets:
Fair value of assets as of beginning of year	$ 409
Fair value of plan assets as of end of year	423	$ 409
Retirement Income [Member]
Change in benefit obligations:
Projected benefit obligation as of beginning of year	639	641
Service cost	1	2	$ 3
Interest cost	26	25	27
Actuarial loss (gain)	51	14
Plan amendments	(1)	0
Translation and other adjustments	(1)	(5)
Benefits paid	(42)	(38)
Projected benefit obligation as of end of year	673	639	641
Change in plan assets:
Fair value of assets as of beginning of year	409	432
Actual return on plan assets	26	6
Employer contributions nonqualified plans	31	13
Benefits paid	(42)	(38)
Translation and other adjustment	(1)	(4)
Fair value of plan assets as of end of year	423	409	432
Accrued benefit cost, net funded status	(250)	(230)
Amounts recognized in the balance sheet consist of:
Pension benefit assets	1	2
Current accrued benefit liability	(14)	(16)
Non-current accrued benefit liability	(237)	(216)
Accrued benefit cost, net	(250)	(230)
Retirement Health Care [Member]
Change in benefit obligations:
Projected benefit obligation as of beginning of year	45	49
Service cost	0	0	1
Interest cost	2	2	2
Actuarial loss (gain)	2	0
Plan amendments	0	(1)
Translation and other adjustments	0	(2)
Benefits paid	(2)	(3)
Projected benefit obligation as of end of year	47	45	49
Change in plan assets:
Fair value of assets as of beginning of year	0	0
Actual return on plan assets	0	0
Employer contributions nonqualified plans	2	3
Benefits paid	(2)	(3)
Translation and other adjustment	0	0
Fair value of plan assets as of end of year	0	0	$ 0
Accrued benefit cost, net funded status	(47)	(45)
Amounts recognized in the balance sheet consist of:
Pension benefit assets	0	0
Current accrued benefit liability	(3)	(3)
Non-current accrued benefit liability	(44)	(42)
Accrued benefit cost, net	$ (47)	$ (45)

EMPLOYEE BENEFIT PLANS (Informa

EMPLOYEE BENEFIT PLANS (Information for Retirement Income Plans with Accumulated Benefit Obligation in Excess of Plan Assets) (Details) - USD ($) $ in Millions	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation	$ 596	$ 559	$ 563
Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	575	538
Accumulated benefit obligation	574	538
Fair value of plan assets	399	385
Other Retirement Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	76	80
Accumulated benefit obligation	76	80
Fair value of plan assets	$ 0	$ 0

EMPLOYEE BENEFIT PLANS (Compone

EMPLOYEE BENEFIT PLANS (Components of the Net Cost of Retirement Income and Health Care Plans) (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Retirement Income [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 1	$ 2	$ 3
Interest cost	26	25	27
Expected return on plan assets	(17)	(20)	(25)
Amortization of unrecognized items	10	12	11
Total	20	19	16
Retirement Health Care [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	0	1
Interest cost	2	2	2
Expected return on plan assets	0	0	0
Amortization of unrecognized items	(3)	2	(4)
Total	$ (1)	$ 4	$ (1)

EMPLOYEE BENEFIT PLANS (Items N

EMPLOYEE BENEFIT PLANS (Items Not Yet Recognized as a Component of Postretirement Expense) (Details) - USD ($) $ in Millions	Jun. 30, 2016	Jun. 30, 2015
Retirement Income [Member]
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss (gain)	$ 296	$ 264
Prior service benefit	0
Net deferred income tax (assets) liabilities	(111)
Accumulated other comprehensive loss (income)	185
Retirement Health Care [Member]
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss (gain)	(13)	$ (17)
Prior service benefit	(6)
Net deferred income tax (assets) liabilities	7
Accumulated other comprehensive loss (income)	$ (12)

EMPLOYEE BENEFIT PLANS (Net Act

EMPLOYEE BENEFIT PLANS (Net Actuarial Loss (Gain) and Prior Service Cost (Benefit) Activity Recorded in Accumulated Other Comprehensive Loss (Income)) (Details) $ in Millions	12 Months Ended
	Jun. 30, 2016USD ($)
Retirement Income [Member]
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss (gain)	$ 264
Amortization during the year	(10)
Loss (gain) during the year	42
Net actuarial loss (gain)	296
Retirement Health Care [Member]
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss (gain)	(17)
Amortization during the year	2
Loss (gain) during the year	2
Net actuarial loss (gain)	$ (13)

EMPLOYEE BENEFIT PLANS (Weighte

EMPLOYEE BENEFIT PLANS (Weighted-Average Assumptions Used to Estimate the Net Periodic Pension and Other Postretirement Benefit Costs) (Details)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Retirement Income [Member]
Weighted-average assumptions used to estimate the actuarial present value of benefit obligations:
Discount rate	3.42%	4.20%
Rate of compensation increase	2.92%	3.37%
Weighted-average assumptions used to estimate the net periodic pension and other postretirement benefit costs:
Discount rate	4.20%	4.05%	4.39%
Rate of compensation increase	3.37%	4.46%	3.44%
Expected return on plan assets	4.34%	5.28%	6.61%
Retirement Health Care [Member]
Weighted-average assumptions used to estimate the actuarial present value of benefit obligations:
Discount rate	3.42%	4.16%
Weighted-average assumptions used to estimate the net periodic pension and other postretirement benefit costs:
Discount rate	4.16%	4.00%	4.33%

EMPLOYEE BENEFIT PLANS (Expecte

EMPLOYEE BENEFIT PLANS (Expected Benefit Payments) (Details) $ in Millions	Jun. 30, 2016USD ($)
Retirement Income [Member]
Defined Benefit Plan Disclosure [Line Items]
2,017	$ 39
2,018	52
2,019	39
2,020	39
2,021	39
Fiscal years 2022 - 2026	193
Retirement Health Care [Member]
Defined Benefit Plan Disclosure [Line Items]
2,017	3
2,018	3
2,019	3
2,020	2
2,021	2
Fiscal years 2022 - 2026	$ 12

EMPLOYEE BENEFIT PLANS (Target

EMPLOYEE BENEFIT PLANS (Target Allocations and Weighted Average Asset Allocations) (Details)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Defined Benefit Plan Disclosure [Line Items]
% Target Allocation	100.00%	100.00%
% of Plan Assets	100.00%	100.00%
U.S. Equity [Member]
Defined Benefit Plan Disclosure [Line Items]
% Target Allocation	11.00%	11.00%
% of Plan Assets	11.00%	11.00%
International Equity Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
% Target Allocation	12.00%	12.00%
% of Plan Assets	11.00%	12.00%
Fixed Income [Member]
Defined Benefit Plan Disclosure [Line Items]
% Target Allocation	74.00%	74.00%
% of Plan Assets	74.00%	74.00%
Other [Member]
Defined Benefit Plan Disclosure [Line Items]
% Target Allocation	3.00%	3.00%
% of Plan Assets	4.00%	3.00%

EMPLOYEE BENEFIT PLANS (Retirem

EMPLOYEE BENEFIT PLANS (Retirement Income Plan's Assets Carried at Fair Value) (Details) - USD ($) $ in Millions	Jun. 30, 2016	Jun. 30, 2015
Defined Benefit Plan Disclosure [Line Items]
Cash equivalents	$ 2	$ 3
Common/Collective trusts	421	406
Total assets at fair value	423	409
Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Cash equivalents	2	3
Common/Collective trusts	0	0
Total assets at fair value	2	3
Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Cash equivalents	0	0
Common/Collective trusts	421	406
Total assets at fair value	421	406
Bond Fund [Member]
Defined Benefit Plan Disclosure [Line Items]
Common/Collective trusts	307	295
Bond Fund [Member] | Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Common/Collective trusts	0	0
Bond Fund [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Common/Collective trusts	307	295
International Equity Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Common/Collective trusts	56	59
International Equity Funds [Member] | Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Common/Collective trusts	0	0
International Equity Funds [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Common/Collective trusts	56	59
Domestic Equity Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Common/Collective trusts	44	41
Domestic Equity Funds [Member] | Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Common/Collective trusts	0	0
Domestic Equity Funds [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Common/Collective trusts	44	41
Real Estate Fund [Member]
Defined Benefit Plan Disclosure [Line Items]
Common/Collective trusts	14	11
Real Estate Fund [Member] | Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Common/Collective trusts	0	0
Real Estate Fund [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Common/Collective trusts	$ 14	$ 11

SEGMENT REPORTING (Selected Fin

SEGMENT REPORTING (Selected Financial Information Relating To Company's Segments ) (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Segment Reporting Information [Line Items]
Net sales	$ 5,761	$ 5,655	$ 5,514
Earnings (losses) from continuing operations before income taxes	983	921	884
Income from equity investees	15	14	13
Total assets	4,518	4,164
Capital expenditures	172	125	137
Depreciation and amortization	165	169	177
Share-based compensation	45	32	36
Cleaning [Member]
Segment Reporting Information [Line Items]
Net sales	1,912	1,824	1,776
Earnings (losses) from continuing operations before income taxes	511	445	428
Income from equity investees	0	0	0
Total assets	883	876
Capital expenditures	44	35	37
Depreciation and amortization	61	52	49
Share-based compensation	10	8	11
Household [Member]
Segment Reporting Information [Line Items]
Net sales	1,862	1,794	1,709
Earnings (losses) from continuing operations before income taxes	428	375	326
Income from equity investees	0	0	0
Total assets	1,092	725
Capital expenditures	83	50	53
Depreciation and amortization	60	67	67
Share-based compensation	8	7	9
Lifestyle [Member]
Segment Reporting Information [Line Items]
Net sales	990	950	936
Earnings (losses) from continuing operations before income taxes	251	257	258
Income from equity investees	0	0	0
Total assets	880	860
Capital expenditures	18	11	11
Depreciation and amortization	19	19	19
Share-based compensation	5	4	5
International [Member]
Segment Reporting Information [Line Items]
Net sales	997	1,087	1,093
Earnings (losses) from continuing operations before income taxes	66	79	99
Income from equity investees	15	14	13
Total assets	1,057	1,057
Capital expenditures	24	25	31
Depreciation and amortization	21	24	25
Share-based compensation	1	1	1
Corporate [Member]
Segment Reporting Information [Line Items]
Net sales	0	0	0
Earnings (losses) from continuing operations before income taxes	(273)	(235)	(227)
Income from equity investees	0	0	0
Total assets	606	646
Capital expenditures	3	4	5
Depreciation and amortization	4	7	17
Share-based compensation	$ 21	$ 12	$ 10

SEGMENT REPORTING (Net Sales an

SEGMENT REPORTING (Net Sales and Long-Lived Assets by Geographic Area) (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 5,761	$ 5,655	$ 5,514
Net property, plant and equipment	906	918
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	4,805	4,609	4,466
Net property, plant and equipment	799	801
Foreign [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	956	1,046	$ 1,048
Net property, plant and equipment	$ 107	$ 117

SEGMENT REPORTING (Concentratio

SEGMENT REPORTING (Concentration Percentages) (Details) - Net sales [Member]	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Liquid Bleach [Member] | Cleaning [Member]
Concentration Risk [Line Items]
Concentration percentage	25.00%	26.00%	26.00%
Liquid Bleach [Member] | International [Member]
Concentration Risk [Line Items]
Concentration percentage	27.00%	27.00%	28.00%
Trash Bags [Member] | Household [Member]
Concentration Risk [Line Items]
Concentration percentage	37.00%	38.00%	36.00%
Charcoal [Member] | Household [Member]
Concentration Risk [Line Items]
Concentration percentage	34.00%	34.00%	34.00%
Customer Concentration [Member] | Walmart Stores, Inc. [Member]
Concentration Risk [Line Items]
Concentration percentage	27.00%	26.00%	27.00%
Customer Concentration [Member] | Top Five Largest Customers [Member]
Concentration Risk [Line Items]
Concentration percentage	46.00%	45.00%	45.00%
Product Concentration [Member] | Liquid Bleach [Member]
Concentration Risk [Line Items]
Concentration percentage	13.00%	14.00%	13.00%
Product Concentration [Member] | Trash Bags [Member]
Concentration Risk [Line Items]
Concentration percentage	13.00%	14.00%	13.00%
Product Concentration [Member] | Charcoal [Member]
Concentration Risk [Line Items]
Concentration percentage	11.00%	11.00%	11.00%

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Related Party Transactions [Abstract]
Percentage ownership of equity investments, maximum	50.00%
Equity method investments	$ 59	$ 59
Payments to related parties during the period	$ 57	$ 55	$ 57

UNAUDITED QUARTERLY DATA (Detai

UNAUDITED QUARTERLY DATA (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Quarterly Financial Data [Abstract]
Net sales	$ 1,600	$ 1,426	$ 1,345	$ 1,390	$ 1,557	$ 1,401	$ 1,345	$ 1,352	$ 5,761	$ 5,655
Cost of products sold	873	780	745	765	847	796	773	774	3,163	3,190	$ 3,158
Earnings from continuing operations	165	159	151	173	189	144	128	145	648	606	579
Earnings (losses) from discontinued operations, net of tax	0	3	(2)	(1)	2	30	(3)	(55)	0	(26)	(21)
Net earnings	$ 165	$ 162	$ 149	$ 172	$ 191	$ 174	$ 125	$ 90	$ 648	$ 580	$ 558
Net earnings (losses) per share, Basic
Continuing operations	$ 1.28	$ 1.23	$ 1.16	$ 1.34	$ 1.46	$ 1.09	$ 0.98	$ 1.12	$ 5.01	$ 4.65	$ 4.47
Discontinued operations	0	0.02	(0.01)	(0.01)	0.02	0.22	(0.02)	(0.42)	0	(0.20)	(0.16)
Basic net earnings per share	1.28	1.25	1.15	1.33	1.48	1.31	0.96	0.70	5.01	4.45	4.31
Net earnings (losses) per share, Diluted
Continuing operations	1.26	1.21	1.14	1.32	1.44	1.08	0.97	1.10	4.92	4.57	4.39
Discontinued operations	0	0.02	(0.01)	(0.01)	0.02	0.22	(0.02)	(0.42)	0	(0.20)	(0.16)
Diluted net earnings per share	1.26	1.23	1.13	1.31	1.46	1.30	0.95	0.68	4.92	4.37	4.23
Dividends declared per common share	0.80	0.77	0.77	0.77	0.77	0.74	0.74	0.74	3.11	2.99	$ 2.87
Market price (NYSE), high	138.41	132.19	131.78	119.75	98.31	106.36	112.65	112.70	138.41	112.70
Market price (NYSE), low	119.23	$ 122.40	$ 114.06	$ 104.26	86.03	$ 95.19	$ 102.95	$ 103.77	104.26	86.03
Market price (NYSE), year-end	$ 138.39				$ 104.02				$ 138.39	$ 104.02

VALUATION AND QUALIFYING ACC109

VALUATION AND QUALIFYING ACCOUNTS AND RESERVES (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Allowance for Doubtful Accounts [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at beginning of period	$ (4)	$ (3)	$ (5)
Charged to costs and expenses	(1)	(1)	0
Credited to costs and expenses	0	0	2
Credited to other accounts	0	0	0
Balance at end of period	(5)	(4)	(3)
LIFO Allowance [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at beginning of period	(34)	(36)	(40)
Charged to costs and expenses	(1)	0	0
Credited to costs and expenses	0	0	3
Credited to other accounts	3	2	1
Balance at end of period	(32)	(34)	(36)
Valuation Allowance on Deferred Tax Assets [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at beginning of period	(34)	(51)	(36)
Charged to costs and expenses	(5)	(4)	(25)
Credited to costs and expenses	0	0	0
Credited to other accounts	2	21	10
Balance at end of period	$ (37)	$ (34)	$ (51)