The Procter & Gamble Company (PG) 10-K 5 Aug 24 2024 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Billions	12 Months Ended
	Jun. 30, 2024	Jul. 31, 2024	Dec. 31, 2023
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	1-434
Entity Registrant Name	PROCTER & GAMBLE CO
Entity Address, Address Line One	One Procter & Gamble Plaza
Entity Address, State or Province	Cincinnati
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	45202
City Area Code	513
Local Phone Number	983-1100
Entity Tax Identification Number	31-0411980
Entity Incorporation, State or Country Code	OH
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 345
Entity Common Stock, Shares Outstanding		2,354,050,987
Documents Incorporated by Reference	Portions of the Proxy Statement for the 2024 Annual Meeting of Shareholders, which will be filed within one hundred and twenty days of the fiscal year ended June 30, 2024 (2024 Proxy Statement), are incorporated by reference into Part III of this report to the extent described herein.
Entity Central Index Key	0000080424
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false
Common Stock
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, without Par Value
Trading Symbol	PG
Security Exchange Name	NYSE
0.500% Notes due 2024
Entity Information [Line Items]
Title of 12(b) Security	0.500% Notes due 2024
Trading Symbol	PG24A
Security Exchange Name	NYSE
0.625% Notes due 2024
Entity Information [Line Items]
Title of 12(b) Security	0.625% Notes due 2024
Trading Symbol	PG24B
Security Exchange Name	NYSE
1.375% Notes due 2025
Entity Information [Line Items]
Title of 12(b) Security	1.375% Notes due 2025
Trading Symbol	PG25
Security Exchange Name	NYSE
0.110% Notes due 2026
Entity Information [Line Items]
Title of 12(b) Security	0.110% Notes due 2026
Trading Symbol	PG26D
Security Exchange Name	NYSE
3.250% EUR Notes due 2026
Entity Information [Line Items]
Title of 12(b) Security	3.250% EUR Notes due 2026
Trading Symbol	PG26F
Security Exchange Name	NYSE
4.875% EUR Notes due May 2027
Entity Information [Line Items]
Title of 12(b) Security	4.875% EUR Notes due May 2027
Trading Symbol	PG27A
Security Exchange Name	NYSE
1.200% Notes due 2028
Entity Information [Line Items]
Title of 12(b) Security	1.200% Notes due 2028
Trading Symbol	PG28
Security Exchange Name	NYSE
3.150% EUR Notes due 2028
Entity Information [Line Items]
Title of 12(b) Security	3.150% EUR Notes due 2028
Trading Symbol	PG28B
Security Exchange Name	NYSE
1.250% Notes due 2029
Entity Information [Line Items]
Title of 12(b) Security	1.250% Notes due 2029
Trading Symbol	PG29B
Security Exchange Name	NYSE
1.800% Notes due 2029
Entity Information [Line Items]
Title of 12(b) Security	1.800% Notes due 2029
Trading Symbol	PG29A
Security Exchange Name	NYSE
6.250% GBP Notes due January 2030
Entity Information [Line Items]
Title of 12(b) Security	6.250% GBP Notes due January 2030
Trading Symbol	PG30
Security Exchange Name	NYSE
0.350% Notes due 2030
Entity Information [Line Items]
Title of 12(b) Security	0.350% Notes due 2030
Trading Symbol	PG30C
Security Exchange Name	NYSE
0.230% Notes due 2031
Entity Information [Line Items]
Title of 12(b) Security	0.230% Notes due 2031
Trading Symbol	PG31A
Security Exchange Name	NYSE
3.250% EUR Notes due 2031
Entity Information [Line Items]
Title of 12(b) Security	3.250% EUR Notes due 2031
Trading Symbol	PG31B
Security Exchange Name	NYSE
5.250% GBP Notes due January 2033
Entity Information [Line Items]
Title of 12(b) Security	5.250% GBP Notes due January 2033
Trading Symbol	PG33
Security Exchange Name	NYSE
3.200% EUR Notes due 2034
Entity Information [Line Items]
Title of 12(b) Security	3.200% EUR Notes due 2034
Trading Symbol	PG34C
Security Exchange Name	NYSE
1.875% Notes due 2038
Entity Information [Line Items]
Title of 12(b) Security	1.875% Notes due 2038
Trading Symbol	PG38
Security Exchange Name	NYSE
0.900% Notes due 2041
Entity Information [Line Items]
Title of 12(b) Security	0.900% Notes due 2041
Trading Symbol	PG41
Security Exchange Name	NYSE

Audit Information

Audit Information	12 Months Ended
	Jun. 30, 2024
Audit Information [Abstract]
Auditor Name	Deloitte & Touche LLP
Auditor Location	Cincinnati, Ohio
Auditor Firm ID	34

Consolidated Statements of Earn

Consolidated Statements of Earnings - USD ($) $ in Millions		12 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
NET SALES		$ 84,039	$ 82,006	$ 80,187
Cost of products sold		40,848	42,760	42,157
Selling, general and administrative expense		23,305	21,112	20,217
Indefinite-lived intangible asset impairment charge		1,341	0	0
OPERATING INCOME		18,545	18,134	17,813
Interest expense		(925)	(756)	(439)
Interest income		473	307	51
Other non-operating income, net		668	668	570
EARNINGS BEFORE INCOME TAXES		18,761	18,353	17,995
Income taxes		3,787	3,615	3,202
NET EARNINGS		14,974	14,738	14,793
Less: Net earnings attributable to noncontrolling interests		95	85	51
NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE		$ 14,879	$ 14,653	$ 14,742
NET EARNINGS PER COMMON SHARE
Basic (in dollars per share)	[1]	$ 6.18	$ 6.07	$ 6
Diluted (in dollars per share)	[1]	$ 6.02	$ 5.90	$ 5.81
[1]Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
NET EARNINGS	$ 14,974	$ 14,738	$ 14,793
OTHER COMPREHENSIVE INCOME/(LOSS), NET OF TAX
Foreign currency translation (net of tax (benefit)/expense of $66, $(197) and $515, respectively)	(226)	(71)	(1,450)
Unrealized gains/(losses) on investment securities (net of tax (benefit)/expense of $(1), $(2) and $1, respectively)	(3)	(7)	5
Unrealized gains on defined benefit postretirement plans (net of tax expense of $230, $9 and $1,022, respectively)	546	40	2,992
TOTAL OTHER COMPREHENSIVE INCOME/(LOSS), NET OF TAX	317	(38)	1,547
TOTAL COMPREHENSIVE INCOME	15,291	14,700	16,340
Less: Comprehensive income attributable to noncontrolling interests	92	78	43
TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO PROCTER & GAMBLE	$ 15,199	$ 14,622	$ 16,297

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Foreign currency translation, tax (benefit)/expense	$ 66	$ (197)	$ 515
Unrealized gains/(losses) on investment securities, tax (benefit)/expense	(1)	(2)	1
Unrealized gains/(losses) on defined benefit postretirement plans, tax expense	$ 230	$ 9	$ 1,022

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
CURRENT ASSETS
Cash and cash equivalents	$ 9,482	$ 8,246
Accounts receivable	6,118	5,471
INVENTORIES
Materials and supplies	1,617	1,863
Work in process	929	956
Finished goods	4,470	4,254
Total inventories	7,016	7,073
Prepaid expenses and other current assets	2,095	1,858
TOTAL CURRENT ASSETS	24,709	22,648
PROPERTY, PLANT AND EQUIPMENT, NET	22,152	21,909
GOODWILL	40,303	40,659
TRADEMARKS AND OTHER INTANGIBLE ASSETS, NET	22,047	23,783
OTHER NONCURRENT ASSETS	13,158	11,830
TOTAL ASSETS	122,370	120,829
CURRENT LIABILITIES
Accounts payable	15,364	14,598
Accrued and other liabilities	11,073	10,929
Debt due within one year	7,191	10,229
TOTAL CURRENT LIABILITIES	33,627	35,756
LONG-TERM DEBT	25,269	24,378
DEFERRED INCOME TAXES	6,516	6,478
OTHER NONCURRENT LIABILITIES	6,398	7,152
TOTAL LIABILITIES	71,811	73,764
SHAREHOLDERS' EQUITY
Common stock, stated value $1 per share (10,000 shares authorized; shares issued: 2024 - 4,009.2, 2023 - 4,009.2)	4,009	4,009
Additional paid-in capital	67,684	66,556
Reserve for ESOP debt retirement	(737)	(821)
Accumulated other comprehensive loss	(11,900)	(12,220)
Treasury stock (shares held: 2024 - 1,652.2; 2023 - 1,647.1)	(133,379)	(129,736)
Retained earnings	123,811	118,170
Noncontrolling interest	272	288
TOTAL SHAREHOLDERS' EQUITY	50,559	47,065
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	122,370	120,829
Preferred Class A
SHAREHOLDERS' EQUITY
Preferred stock	798	819
Preferred Class B
SHAREHOLDERS' EQUITY
Preferred stock	$ 0	$ 0

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2024	Jun. 30, 2023
Common stock, stated value (in dollars per share)	$ 1	$ 1
Common stock, authorized (in shares)	10,000,000,000	10,000,000,000
Common stock, issued (in shares)	4,009,200,000	4,009,200,000
Treasury stock (in shares)	1,652,200,000	1,647,100,000
Preferred Class A
Preferred stock, stated value (in dollars per share)	$ 1	$ 1
Preferred stock, authorized (in shares)	600,000,000	600,000,000
Preferred Class B
Preferred stock, stated value (in dollars per share)	$ 1	$ 1
Preferred stock, authorized (in shares)	200,000,000	200,000,000

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) shares in Thousands, $ in Millions	Total	Common Stock	Preferred Stock	Additional Paid-In Capital	Reserve for ESOP Debt Retirement	Accumulated Other Comprehensive Income/(Loss)	Treasury Stock	Retained Earnings	Noncontrolling Interest
Beginning balance (in shares) at Jun. 30, 2021		2,429,706
Beginning balance at Jun. 30, 2021	$ 46,654	$ 4,009	$ 870	$ 64,848	$ (1,006)	$ (13,744)	$ (114,973)	$ 106,374	$ 276
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Earnings/(Loss)	14,793							14,742	51
Other comprehensive income/(loss)	1,547					1,555			(8)
Dividends and dividend equivalents ($3.5227 per share):
Common	(8,514)							(8,514)
Preferred	(281)							(281)
Treasury stock purchases (in shares)		(67,088)
Treasury stock purchases	(10,003)						(10,003)
Employee stock plans (in shares)		28,042
Employee stock plans	2,516			945			1,571
Preferred stock conversions (in shares)		3,217
Preferred stock conversions	0		(27)	4			23
ESOP debt impacts	198				90			108
Noncontrolling interest, net	(56)			(2)					(54)
Ending balance (in shares) at Jun. 30, 2022		2,393,877
Ending balance at Jun. 30, 2022	46,854	$ 4,009	843	65,795	(916)	(12,189)	(123,382)	112,429	265
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Earnings/(Loss)	14,738							14,653	85
Other comprehensive income/(loss)	(38)					(31)			(7)
Dividends and dividend equivalents ($3.5227 per share):
Common	(8,742)							(8,742)
Preferred	(282)							(282)
Treasury stock purchases (in shares)		(52,021)
Treasury stock purchases	(7,353)						(7,353)
Employee stock plans (in shares)		17,424
Employee stock plans	1,736			758			978
Preferred stock conversions (in shares)		2,840
Preferred stock conversions	0		(24)	3			21
ESOP debt impacts	207				95			112
Noncontrolling interest, net	(55)								(55)
Ending balance (in shares) at Jun. 30, 2023		2,362,120
Ending balance at Jun. 30, 2023	47,065	$ 4,009	819	66,556	(821)	(12,220)	(129,736)	118,170	288
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Earnings/(Loss)	14,974							14,879	95
Other comprehensive income/(loss)	317					320			(3)
Dividends and dividend equivalents ($3.5227 per share):
Common	(9,053)							(9,053)
Preferred	(284)							(284)
Treasury stock purchases (in shares)		(31,877)
Treasury stock purchases	(5,014)						(5,014)
Employee stock plans (in shares)		24,095
Employee stock plans	2,478			1,125			1,353
Preferred stock conversions (in shares)		2,713
Preferred stock conversions	0		(21)	3			18
ESOP debt impacts	184				85			99
Noncontrolling interest, net	(108)								(108)
Ending balance (in shares) at Jun. 30, 2024		2,357,051
Ending balance at Jun. 30, 2024	$ 50,559	$ 4,009	$ 798	$ 67,684	$ (737)	$ (11,900)	$ (133,379)	$ 123,811	$ 272

Consolidated Statements of Sh_2

Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Statement of Stockholders' Equity [Abstract]
Dividends and dividend equivalents (in dollars per share)	$ 3.8286	$ 3.6806	$ 3.5227

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Statement of Cash Flows [Abstract]
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF YEAR	$ 8,246	$ 7,214	$ 10,288
OPERATING ACTIVITIES
NET EARNINGS	14,974	14,738	14,793
Depreciation and amortization	2,896	2,714	2,807
Share-based compensation expense	562	545	528
Deferred income taxes	(244)	(453)	(402)
Loss/(gain) on sale of assets	(215)	(40)	(85)
Indefinite-lived intangible asset impairment charge	1,341	0	0
Change in accounts receivable	(766)	(307)	(694)
Change in inventories	(70)	(119)	(1,247)
Change in accounts payable and accrued and other liabilities	1,814	313	1,429
Change in other operating assets and liabilities	(1,414)	(1,107)	(635)
Other	969	564	229
TOTAL OPERATING ACTIVITIES	19,846	16,848	16,723
INVESTING ACTIVITIES
Capital expenditures	(3,322)	(3,062)	(3,156)
Proceeds from asset sales	346	46	110
Acquisitions, net of cash acquired	(21)	(765)	(1,381)
Other investing activity	(507)	281	3
TOTAL INVESTING ACTIVITIES	(3,504)	(3,500)	(4,424)
FINANCING ACTIVITIES
Dividends to shareholders	(9,312)	(8,999)	(8,770)
Additions to short-term debt with original maturities of more than three months	3,528	17,168	10,411
Reductions in short-term debt with original maturities of more than three months	(7,689)	(13,031)	(11,478)
Net additions/(reductions) to other short-term debt	857	(3,319)	917
Additions to long-term debt	3,197	3,997	4,385
Reductions in long-term debt	(2,335)	(1,878)	(2,343)
Treasury stock purchases	(5,006)	(7,353)	(10,003)
Impact of stock options and other	1,905	1,269	2,005
TOTAL FINANCING ACTIVITIES	(14,855)	(12,146)	(14,876)
EFFECT OF EXCHANGE RATE CHANGES ON CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(251)	(170)	(497)
CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	1,235	1,032	(3,074)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF YEAR	9,482	8,246	7,214
SUPPLEMENTAL DISCLOSURE
Cash payments for interest	878	721	451
Cash payments for income taxes	$ 4,363	$ 4,278	$ 3,818

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations The Procter & Gamble Company's (the "Company," "Procter & Gamble," "we" or "us") business is focused on providing branded consumer packaged goods of superior quality and value. Our products are sold in about 180 countries and territories primarily through mass merchandisers, e-commerce (including social commerce) channels, grocery stores, membership club stores, drug stores, department stores, distributors, wholesalers, specialty beauty stores (including airport duty-free stores), high-frequency stores, pharmacies, electronics stores and professional channels. We also sell direct to consumers. We have on-the-ground operations in about 70 countries. Basis of Presentation The Consolidated Financial Statements include the Company and its controlled subsidiaries. Intercompany transactions are eliminated. Use of Estimates Preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) requires management to make estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and accompanying disclosures. These estimates are based on management's best knowledge of current events and actions the Company may undertake in the future. Estimates are used in accounting for, among other items, consumer and trade promotion accruals, restructuring reserves, pensions, postretirement benefits, stock options, valuation of acquired intangible assets, useful lives for depreciation and amortization of long-lived assets, future cash flows associated with impairment testing for goodwill, indefinite-lived intangible assets and other long-lived assets, deferred tax assets and liabilities, uncertain income tax positions and contingencies. Actual results may ultimately differ from estimates, although management does not generally believe such differences would materially affect the financial statements in any individual year. However, regarding ongoing impairment testing of goodwill and indefinite-lived intangible assets, significant deterioration in future cash flow projections or other assumptions used in estimating fair values versus those anticipated at the time of the initial valuations, could result in impairment charges that materially affect the financial statements in a given year. Revenue Recognition Our revenue is primarily generated from the sale of finished product to customers. Those sales predominantly contain a single performance obligation and revenue is recognized at a single point in time when ownership, risks and rewards transfer, which can be on the date of shipment or the date of receipt by the customer. A provision for payment discounts and product return allowances is recorded as a reduction of sales in the same period the revenue is recognized. The revenue recorded is presented net of sales and other taxes we collect on behalf of governmental authorities. The revenue includes shipping and handling costs, which generally are included in the list price to the customer. Trade promotions, consisting primarily of customer pricing allowances, merchandising funds and consumer coupons, are offered through various programs to customers and consumers. Sales are recorded net of trade promotion spending, which is recognized as incurred at the time of the sale. Most of these arrangements have terms of approximately one year. Accruals for expected payouts under these programs are included as accrued marketing and promotion in the Accrued and other liabilities line item in the Consolidated Balance Sheets. Cost of Products Sold Cost of products sold is primarily comprised of direct materials and supplies consumed in the manufacturing of product, as well as manufacturing labor, depreciation expense and direct overhead expenses necessary to acquire and convert the purchased materials and supplies into finished products. Cost of products sold also includes the cost to distribute products to customers, inbound freight costs, internal transfer costs, warehousing costs and other shipping and handling activity. Selling, General and Administrative Expense Selling, general and administrative expense (SG&A) is primarily comprised of marketing expenses, selling expenses, research and development costs, administrative and other indirect overhead costs, depreciation and amortization expense on non-manufacturing assets and other miscellaneous operating items. Research and development costs are charged to expense as incurred and were $2.0 billion in 2024, 2023 and 2022. Advertising costs, charged to expense as incurred, include television, print, radio, digital and in-store advertising expenses and were $9.6 billion in 2024, $8.0 billion in 2023 and $7.9 billion in 2022. Non-advertising related components of the Company's total marketing spending reported in SG&A include costs associated with consumer promotions, product sampling and sales aids. Other Non-Operating Income, Net Other non-operating income, net primarily includes divestiture gains, net non-service impacts related to postretirement benefit plans, investment income, accumulated foreign currency translation losses and other non-operating items. Currency Translation Financial statements of operating subsidiaries outside the U.S. generally are measured using the local currency as the functional currency. Adjustments to translate those statements into U.S. dollars are recorded in Other comprehensive income (OCI). For subsidiaries operating in highly inflationary economies, the U.S. dollar is the functional currency. Re-measurement adjustments for financial statements in highly inflationary economies and other transactional exchange gains and losses are reflected in earnings. Cash Flow Presentation The Consolidated Statements of Cash Flows are prepared using the indirect method, which reconciles net earnings to cash flows from operating activities. Cash flows from foreign currency transactions and operations are translated at monthly exchange rates for each period. Cash flows from hedging activities are included in the same category as the items being hedged. Cash flows from derivative instruments designated as net investment hedges are classified as investing activities. Realized gains and losses from non-qualifying derivative instruments used to hedge currency exposures resulting from intercompany financing transactions are classified as financing activities. Cash flows from other derivative instruments used to manage interest rates, commodity or other currency exposures are classified as operating activities. Cash payments related to income taxes are classified as operating activities. Investments The Company holds minor equity investments in certain companies over which we exert significant influence, but do not control the financial and operating decisions. These are accounted for as equity method investments. Other equity investments that are not controlled, and over which we do not have the ability to exercise significant influence, and for which there is a readily determinable market value, are recorded at fair value, with gains and losses recorded through net earnings. Equity investments without readily determinable fair values are measured at cost, less impairments, plus or minus observable price changes. Equity investments are included as Other noncurrent assets in the Consolidated Balance Sheets. The Company also holds highly liquid investments, primarily money market funds and time deposits. Such investments are considered cash equivalents and are included within Cash and cash equivalents in the Consolidated Balance Sheets. Inventory Valuation Inventories are valued at the lower of cost or net realizable value. Product-related inventories are maintained on the first-in, first-out method. The cost of spare part inventories is maintained using the average-cost method. Property, Plant and Equipment Property, plant and equipment is recorded at cost reduced by accumulated depreciation. Depreciation expense is recognized over the assets' estimated useful lives using the straight-line method. Machinery and equipment includes office furniture and fixtures (15-year life), computer equipment and capitalized software (3- to 5-year lives) and manufacturing equipment (3- to 20-year lives). Buildings are depreciated over an estimated useful life of 40 years. Estimated useful lives are periodically reviewed and, when appropriate, changes are made prospectively. When certain events or changes in operating conditions occur, asset lives may be adjusted and an impairment assessment may be performed on the recoverability of the carrying amounts. Goodwill and Other Intangible Assets Goodwill and indefinite-lived intangible assets are not amortized but are evaluated for impairment annually or more often if indicators of a potential impairment are present. Our annual impairment testing of goodwill is performed separately from our impairment testing of indefinite-lived intangible assets. We have acquired brands that have been determined to have indefinite lives. We evaluate several factors to determine whether an indefinite life is appropriate, including the competitive environment, market share, brand history, underlying product life cycles, operating plans and the macroeconomic environment of the countries in which the brands are sold. In addition, when certain events or changes in operating conditions occur, an additional impairment assessment is performed and indefinite-lived assets may be adjusted to a determinable life. The cost of intangible assets with determinable useful lives is amortized to reflect the pattern of economic benefits consumed, either on a straight-line or accelerated basis over the estimated periods benefited. Patents, technology and other intangible assets with contractual terms are generally amortized over their respective legal or contractual lives. Customer relationships, brands and other non-contractual intangible assets with determinable lives are amortized over periods generally ranging from 5 to 30 years. When certain events or changes in operating conditions occur, an impairment assessment is performed and remaining lives of intangible assets with determinable lives may be adjusted. For additional details on goodwill and intangible assets see Note 4. Fair Values of Financial Instruments Certain financial instruments are required to be recorded at fair value. Changes in assumptions or estimation methods could affect the fair value estimates; however, we do not believe any such changes would have a material impact on our financial condition, results of operations or cash flows. Other financial instruments, including cash equivalents, certain investments and certain short-term debt, are recorded at cost, which approximates fair value. The fair values of long-term debt and financial instruments are disclosed in Note 9. New Accounting Pronouncements and Policies In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2023-07, “Segment Reporting: Improvements to Reportable Segment Disclosures.” This guidance requires disclosure of incremental segment information on an annual and interim basis. This amendment is effective for our fiscal year ending June 30, 2025, and our interim periods within the fiscal year ending June 30, 2026. We are currently assessing the impact of this guidance on our disclosures. In December 2023, the FASB issued ASU No. 2023-09, “Income Taxes: Improvements to Income Tax Disclosures.” This guidance requires consistent categories and greater disaggregation of information in the rate reconciliation and disclosures of income taxes paid by jurisdiction. This amendment is effective for our fiscal year ending June 30, 2026. We are currently assessing the impact of this guidance on our disclosures. No other new accounting pronouncement issued or effective during the fiscal year had, or is expected to have, a material impact on our Consolidated Financial Statements.

SEGMENT INFORMATION

SEGMENT INFORMATION	12 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION Under U.S. GAAP, our operating segments are aggregated into five reportable segments: 1) Beauty, 2) Grooming, 3) Health Care, 4) Fabric & Home Care and 5) Baby, Feminine & Family Care. Our five reportable segments are comprised of: • Beauty : Hair Care (Conditioners, Shampoos, Styling Aids, Treatments); Skin and Personal Care (Antiperspirants and Deodorants, Personal Cleansing, Skin Care); • Grooming : Grooming (Appliances, Female Blades & Razors, Male Blades & Razors, Pre- and Post-Shave Products, Other Grooming); • Health Care : Oral Care (Toothbrushes, Toothpaste, Other Oral Care); Personal Health Care (Gastrointestinal, Pain Relief, Rapid Diagnostics, Respiratory, Vitamins/Minerals/Supplements, Other Personal Health Care); • Fabric & Home Care : Fabric Care (Fabric Enhancers, Laundry Additives, Laundry Detergents); Home Care (Air Care, Dish Care, P&G Professional, Surface Care); and • Baby, Feminine & Family Care : Baby Care (Baby Wipes, Taped Diapers and Pants); Feminine Care (Adult Incontinence, Menstrual Care); Family Care (Paper Towels, Tissues, Toilet Paper). While none of our reportable segments are highly seasonal, components within certain reportable segments, such as Appliances (Grooming) and Personal Health Care (Health), are seasonal. The accounting policies of the segments are generally the same as those described in Note 1. Differences between these policies and U.S. GAAP primarily reflect income taxes, which are reflected in the segments using applicable blended statutory rates. Adjustments to arrive at our effective tax rate are included in Corporate. In addition, capital expenditures in the segments are on an accrual basis consistent with the balance sheet. Adjustments to move from an accrual to cash basis, for purposes of the cash flow statement, are reflected in Corporate. Corporate includes certain operating and non-operating activities that are not reflected in the operating results used internally to measure and evaluate the businesses, as well as items to adjust management reporting principles to U.S. GAAP. Operating activities in Corporate include the results of incidental businesses managed at the corporate level. Operating elements also include certain employee benefit costs, the costs of certain restructuring-type activities to maintain a competitive cost structure, including manufacturing and workforce optimization, asset impairment charges and other general Corporate items. The non-operating elements in Corporate primarily include interest expense, certain pension and other postretirement benefit costs, certain acquisition and divestiture gains, interest and investing income and other financing costs. Total assets for the reportable segments include those assets managed by the reportable segment, primarily inventory, fixed assets and intangible assets. Other assets, primarily cash, accounts receivable, investment securities and goodwill, are included in Corporate. Our operating segments are comprised of similar product categories. Operating segments that individually accounted for 5% or more of consolidated net sales are as follows: % of Net sales by operating segment (1) Fiscal years ended June 30 2024 2023 2022 Fabric Care 24% 23% 23% Home Care 12% 12% 12% Baby Care 9% 10% 10% Family Care 9% 8% 9% Hair Care 9% 9% 9% Skin and Personal Care 9% 9% 9% Grooming (2) 8% 8% 6% Oral Care 8% 8% 8% Feminine Care 6% 7% 6% Personal Health Care 6% 6% 6% Other (2) —% —% 2% TOTAL 100% 100% 100% (1) % of Net sales by operating segment excludes sales recorded in Corporate. (2) Effective July 1, 2022, the Grooming Sector Business Unit completed the full integration of its Shave Care and Appliances categories to cohesively serve consumers' grooming needs. This transition included the integration of the management team, strategic decision-making, innovation plans, financial targets, budgets and internal management reporting. For the fiscal year ended June 30, 2022, Appliances was presented in Other. Net sales and long-lived assets in the United States and internationally were as follows (in billions): Fiscal years ended June 30 2024 2023 2022 NET SALES United States $ 40.5 $ 38.7 $ 36.5 International $ 43.5 $ 43.3 $ 43.7 LONG-LIVED ASSETS (1) United States $ 12.0 $ 11.4 $ 10.7 International $ 10.2 $ 10.5 $ 10.5 (1) Long-lived assets consists of property, plant and equipment. No country, other than the United States, exceeds 10% of the Company's consolidated net sales or long-lived assets. Our largest customer, Walmart Inc. and its affiliates, accounted for consolidated net sales of approximately 16% in 2024 and 15% in 2023 and 2022. No other customer represents more than 10% of our consolidated net sales. Global Segment Results Net Sales Earnings/(Loss) Net Earnings/(Loss) Depreciation Total Capital BEAUTY 2024 $ 15,220 $ 3,805 $ 2,963 $ 399 $ 6,103 $ 280 2023 15,008 4,009 3,178 376 6,196 287 2022 14,740 3,946 3,160 348 6,055 331 GROOMING 2024 6,654 1,845 1,477 335 19,082 337 2023 6,419 1,806 1,461 335 20,601 300 2022 6,587 1,835 1,490 361 20,482 260 HEALTH CARE 2024 11,793 2,941 2,258 381 8,416 524 2023 11,226 2,759 2,125 352 8,480 466 2022 10,824 2,618 2,006 376 7,888 410 FABRIC & HOME CARE 2024 29,495 7,339 5,687 710 8,907 1,076 2023 28,371 6,303 4,828 675 8,669 979 2022 27,556 5,729 4,386 672 8,567 988 BABY, FEMININE & FAMILY CARE 2024 20,277 5,253 4,020 824 8,497 979 2023 20,217 4,623 3,545 804 8,517 994 2022 19,736 4,267 3,266 826 8,443 932 CORPORATE 2024 601 (2,422) (1,430) 247 71,365 126 2023 765 (1,147) (399) 172 68,366 36 2022 744 (400) 485 224 65,773 235 TOTAL COMPANY 2024 $ 84,039 $ 18,761 $ 14,974 $ 2,896 $ 122,370 $ 3,322 2023 82,006 18,353 14,738 2,714 120,829 3,062 2022 80,187 17,995 14,793 2,807 117,208 3,156

SUPPLEMENTAL FINANCIAL INFORMAT

SUPPLEMENTAL FINANCIAL INFORMATION	12 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
SUPPLEMENTAL FINANCIAL INFORMATION	SUPPLEMENTAL FINANCIAL INFORMATION The components of property, plant and equipment were as follows: As of June 30 2024 2023 PROPERTY, PLANT AND EQUIPMENT Machinery and equipment $ 37,507 $ 36,521 Buildings 8,534 8,277 Construction in progress 3,126 2,980 Land 895 867 TOTAL PROPERTY, PLANT AND EQUIPMENT 50,063 48,645 Accumulated depreciation (27,911) (26,736) PROPERTY, PLANT AND EQUIPMENT, NET $ 22,152 $ 21,909 Selected components of current and noncurrent liabilities were as follows: As of June 30 2024 2023 ACCRUED AND OTHER LIABILITIES - CURRENT Accrued marketing and promotion $ 4,172 $ 3,894 Accrued compensation 2,161 2,030 Taxes payable 1,042 828 Accrued interest 282 235 Lease liabilities 243 222 Restructuring reserves 166 174 Derivative liabilities 54 631 Other 2,953 2,915 TOTAL $ 11,073 $ 10,929 OTHER NONCURRENT LIABILITIES Pension benefit obligations $ 2,884 $ 3,116 Uncertain tax positions 723 622 Lease liabilities 666 595 Other retiree benefit obligations 653 690 U.S. Tax Act transitional tax payable 592 1,154 Derivative liabilities 325 445 Other 555 530 TOTAL $ 6,398 $ 7,152 RESTRUCTURING PROGRAM The Company has historically incurred an ongoing annual level of restructuring-type activities to maintain a competitive cost structure, including manufacturing and workforce optimization. Before tax costs incurred under ongoing programs have generally ranged from $250 to $500 annually. In December 2023, the Company announced a limited market portfolio restructuring of its business operations, primarily in certain Enterprise Markets, including Argentina and Nigeria, to address challenging macroeconomic and fiscal conditions. In connection with this announcement, the Company expects to record incremental restructuring charges of $1.0 to $1.5 billion after tax, consisting primarily of foreign currency translation losses to be recognized as non-cash charges upon the substantial liquidation of operations in the affected markets. The Company incurred total restructuring charges of $659 and $329 for the fiscal years ended June 30, 2024 and 2023. Of the charges incurred for fiscal year 2024, $248 were recorded in Costs of products sold, $155 in SG&A and $255 in Other non-operating income, net. Of the charges incurred in fiscal year 2023, $160 were recorded in Costs of products SG&A Other non-operating income, net The following table presents restructuring activity for the fiscal years ended June 30, 2024 and 2023: Separation Costs Asset-Related Costs Other Costs Total RESERVE JUNE 30, 2022 $ 121 $ — $ 26 $ 147 Cost incurred 175 43 111 329 Cost paid/settled (141) (43) (118) (302) RESERVE JUNE 30, 2023 155 — 19 174 Cost incurred 202 101 355 659 Cost paid/settled (224) (101) (342) (667) RESERVE JUNE 30, 2024 $ 133 $ — $ 32 $ 166 Separation Costs Employee separation costs relate to severance packages that are primarily voluntary and the amounts calculated are based on salary levels and past service periods. Asset-Related Costs Asset-related costs consist of both asset write-downs and accelerated depreciation for manufacturing and facilities consolidations. Asset write-downs relate to the establishment of a new fair value basis for assets held-for-sale or for disposal. These assets are written down to the lower of their current carrying basis or amounts expected to be realized upon disposal, less minor disposal costs. Charges for accelerated depreciation relate to long-lived assets that will be taken out of service prior to the end of their normal service period. Other Costs Other restructuring-type charges are incurred as a direct result of the restructuring plan. Such charges include accumulated foreign currency translation losses, asset removal and termination of contracts related to Enterprise Market portfolio restructuring. As of June 30, 2024, the Company has substantially liquidated its operations in certain Enterprise Markets, including Nigeria, and recorded a non-cash charge of $216 for accumulated foreign currency translation losses previously included in Accumulated other comprehensive income/(loss). Consistent with our historical policies for ongoing restructuring-type activities, the restructuring charges are funded by and included within Corporate for management and segment reporting . However, for information purposes, the following table summarizes the total restructuring costs related to our reportable segments: Fiscal years ended June 30 2024 2023 2022 Beauty $ 43 $ 15 $ 11 Grooming 76 17 14 Health Care 33 28 32 Fabric & Home Care 84 87 42 Baby, Feminine & Family Care 50 21 83 Corporate (1) 371 161 71 TOTAL $ 659 $ 329 $ 253 (1)

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	12 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	GOODWILL AND INTANGIBLE ASSETS The change in the net carrying amount of goodwill by reportable segment was as follows: Beauty Grooming Health Care Fabric & Home Care Baby, Feminine & Family Care TOTAL BALANCE AT JUNE 30, 2022 - NET (1) $ 13,296 $ 12,571 $ 7,589 $ 1,808 $ 4,436 $ 39,700 Acquisitions and divestitures 405 — — — 33 438 Translation and other 187 132 129 13 60 521 BALANCE AT JUNE 30, 2023 - NET (1) 13,888 12,703 7,718 1,821 4,529 40,659 Acquisitions and divestitures (61) — — — — (61) Translation and other (104) (71) (80) (10) (30) (295) BALANCE AT JUNE 30, 2024 - NET (1) $ 13,723 $ 12,633 $ 7,638 $ 1,810 $ 4,499 $ 40,303 (1) Grooming goodwill balance is net of $7.9 billion accumulated impairment losses. Goodwill decreased during fiscal 2024 primarily due to currency translation across all reportable segments and a brand divestiture in the Beauty reportable segment. Goodwill increased during fiscal 2023 primarily due to an acquisition in the Beauty segment, other minor brand acquisitions in the Baby, Feminine & Family Care segment and currency translation across all reportable segments. Goodwill and indefinite-lived intangibles are tested for impairment at least annually by comparing the estimated fair values of our reporting units and indefinite-lived intangible assets to their respective carrying values. We use the income method to estimate the fair value of these assets, which is based on forecasts of the expected future cash flows attributable to the respective assets. When appropriate, the market approach, which leverages comparable company revenue and earnings multiples, is weighted with the income approach to estimate fair value. Significant estimates and assumptions inherent in the valuations reflect a consideration of other marketplace participants and include the amount and timing of future cash flows (including expected growth rates and profitability). Significant judgment by management is required to estimate the impact of macroeconomic and other factors on future cash flows. Estimates utilized in the projected cash flows include consideration of macroeconomic conditions, overall category growth rates, competitive activities, cost containment and margin expansion, Company business plans, the underlying product or technology life cycles, economic barriers to entry, a brand's relative market position and the discount rate applied to the cash flows. Unanticipated market or macroeconomic events and circumstances may occur, which could affect the accuracy or validity of the estimates and assumptions. We believe the estimates and assumptions utilized in our impairment testing are reasonable and are comparable to those that would be used by other marketplace participants. However, actual events and results could differ substantially from those used in our valuations. To the extent such factors result in a failure to achieve the level of projected cash flows initially used to estimate fair value for purposes of establishing or subsequently impairing the carrying amount of goodwill and related intangible assets, we may need to record additional non-cash impairment charges in the future. During the fiscal year ended June 30, 2024, we determined that the fair value of the Gillette indefinite-lived intangible asset was less than its carrying amount. As a result, we recorded a non-cash impairment charge of $1.3 billion ($1.0 billion after tax) to reduce the carrying amount to be equivalent to the estimated fair value as of December 31, 2023. Following the impairment charge, the carrying value of the Gillette indefinite-lived intangible asset is $12.8 billion. The impairment charge arose due to a higher discount rate, weakening of several currencies relative to the U.S. dollar and the impact of a new restructuring program focused primarily in certain Enterprise Markets, including Argentina and Nigeria. Identifiable intangible assets were comprised of: 2024 2023 As of June 30 Gross Carrying Amount Accumulated Gross Carrying Amount Accumulated INTANGIBLE ASSETS WITH DETERMINABLE LIVES Brands $ 4,318 $ (2,725) $ 4,352 $ (2,540) Patents and technology 2,794 (2,683) 2,775 (2,649) Customer relationships 1,834 (1,121) 1,847 (1,039) Other 72 (29) 73 (28) TOTAL $ 9,019 $ (6,558) $ 9,047 $ (6,256) INTANGIBLE ASSETS WITH INDEFINITE LIVES Brands 19,587 — 20,992 — TOTAL INTANGIBLE ASSETS $ 28,605 $ (6,558) $ 30,039 $ (6,256) Amortization expense of intangible assets was as follows: Fiscal years ended June 30 2024 2023 2022 Intangible asset amortization $ 338 $ 327 $ 312 Estimated amortization expense over the next five fiscal years is as follows: Fiscal years ending June 30 2025 2026 2027 2028 2029 Estimated amortization expense $ 318 $ 297 $ 287 $ 248 $ 200

INCOME TAXES

INCOME TAXES	12 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Income taxes are recognized for the amount of taxes payable for the current year and for the impact of deferred tax assets and liabilities, which represent future tax consequences of events that have been recognized differently in the financial statements than for tax purposes. Deferred tax assets and liabilities are established using the enacted statutory tax rates and are adjusted for any changes in such rates in the period of change. We have elected to account for the tax effects of Global Intangible Low-Taxed Income (GILTI) as a current period expense when incurred. Earnings before income taxes consisted of the following: Fiscal years ended June 30 2024 2023 2022 United States $ 12,246 $ 12,107 $ 11,698 International 6,515 6,246 6,297 TOTAL $ 18,761 $ 18,353 $ 17,995 Income taxes consisted of the following: Fiscal years ended June 30 2024 2023 2022 CURRENT TAX EXPENSE U.S. federal $ 1,954 $ 2,303 $ 1,916 International 1,708 1,412 1,333 U.S. state and local 368 353 355 TOTAL 4,031 4,068 3,604 DEFERRED TAX EXPENSE/(BENEFIT) U.S. federal (133) (224) (320) International and other (111) (229) (82) TOTAL (244) (453) (402) TOTAL TAX EXPENSE $ 3,787 $ 3,615 $ 3,202 A reconciliation of the U.S. federal statutory income tax rate to our actual effective income tax rate is provided below: Fiscal years ended June 30 2024 2023 2022 U.S. federal statutory income tax rate 21.0 % 21.0 % 21.0 % Country mix impacts of foreign operations 0.1 % (0.5) % (0.3) % State income taxes, net of federal benefit 1.8 % 1.6 % 1.5 % Excess tax benefits from the exercise of stock options (1.5) % (1.0) % (2.0) % Foreign derived intangible income deduction (FDII) (1.1) % (0.8) % (1.1) % Changes in uncertain tax positions 0.1 % 0.1 % (0.4) % Other (0.2) % (0.7) % (0.9) % EFFECTIVE INCOME TAX RATE 20.2 % 19.7 % 17.8 % Country mix impacts of foreign operations includes the effects of foreign subsidiaries' earnings taxed at rates other than the U.S. statutory rate, the U.S. tax impacts of non-U.S. earnings repatriation and any net impacts of intercompany transactions. Excess tax benefits from the exercise of stock options reflect the excess of actual tax benefits received on employee exercises of stock options and other share-based payments (which generally equals the income taxable to the employee) over the amount of tax benefits that were calculated and recognized based on the grant date fair values of such instruments. Changes in uncertain tax positions represent changes in our net liability related to prior year tax positions. Prior to the passage of the U.S. Tax Act, the Company asserted that substantially all of the undistributed earnings of its foreign subsidiaries were considered indefinitely invested and, accordingly, no deferred taxes were provided. Pursuant to the provisions of the U.S. Tax Act, these earnings were subjected to a one-time transition tax. This charge included taxes for all U.S. income taxes and for the related foreign withholding taxes for the portion of those earnings which are no longer considered indefinitely invested. We have not provided deferred taxes on approximately $22 billion of earnings that are considered indefinitely invested. A reconciliation of the beginning and ending liability for uncertain tax positions is as follows: Fiscal years ended June 30 2024 2023 2022 BEGINNING OF YEAR $ 515 $ 583 $ 627 Increases in tax positions for prior years 157 113 102 Decreases in tax positions for prior years (133) (119) (118) Increases in tax positions for current year 160 60 53 Settlements with taxing authorities (100) (108) (42) Lapse in statute of limitations (9) (7) (17) Currency translation (8) (7) (22) END OF YEAR $ 582 $ 515 $ 583 Included in the total liability for uncertain tax positions at June 30, 2024, is $488 that, depending on the ultimate resolution, could impact the effective tax rate in future periods. The Company is present in about 70 countries and over 150 taxable jurisdictions and, at any point in time, has 30-40 jurisdictional audits underway at various stages of completion. We evaluate our tax positions and establish liabilities for uncertain tax positions that may be challenged by local authorities and may not be fully sustained, despite our belief that the underlying tax positions are fully supportable. Uncertain tax positions are reviewed on an ongoing basis and are adjusted in light of changing facts and circumstances, including progress of tax audits, developments in case law and the closing of statutes of limitation. Such adjustments are reflected in the tax provision as appropriate. We have tax years open ranging from 2010 and forward. We are generally not able to reliably estimate the timing and ultimate settlement amounts until the close of an audit. Based on information currently available, we do not anticipate over the next 12-month period any significant audit activity concluding related to uncertain tax positions for which we have existing accrued liabilities. We recognize the additional accrual of any possible related interest and penalties relating to the underlying uncertain tax position in income tax expense. As of June 30, 2024 and 2023, we had accrued interest of $111 and $143 and accrued penalties of $15 and $12, respectively, which are not included in the above table. During the fiscal years ended June 30, 2024, 2023 and 2022, we recognized $18, $23 and $21 in interest expense and $4, $1 and $2 in penalties expense, respectively. Deferred income tax assets and liabilities were comprised of the following: As of June 30 2024 2023 DEFERRED TAX ASSETS Capitalized research & development $ 1,140 $ 930 Loss and other carryforwards 892 1,014 Pension and other retiree benefits 592 737 Accrued marketing and promotion 460 421 Stock-based compensation 433 412 Fixed assets 206 223 Lease liabilities 199 197 Unrealized loss on financial and foreign exchange transactions 107 282 Other 843 874 Valuation allowances (290) (403) TOTAL $ 4,582 $ 4,687 DEFERRED TAX LIABILITIES Goodwill and other intangible assets $ 5,459 $ 5,811 Fixed assets 1,573 1,556 Other retiree benefits 1,319 1,101 Unrealized gain on financial and foreign exchange transactions 263 198 Lease right-of-use assets 196 191 Foreign withholding tax on earnings to be repatriated 104 96 Other 441 381 TOTAL $ 9,355 $ 9,334 Net operating loss carryforwards were $2.3 billion at June 30, 2024, and $2.9 billion at June 30, 2023. If unused, approximately $100 will expire between 2024 and 2043. The remainder, totaling $2.2 billion at June 30, 2024, may be carried forward indefinitely.

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE Basic net earnings per common share are calculated by dividing Net earnings attributable to Procter & Gamble less preferred dividends by the weighted average number of common shares outstanding during the period. Diluted net earnings per common share are calculated by dividing Net earnings attributable to Procter & Gamble by the diluted weighted average number of common shares outstanding during the period. The diluted shares include the dilutive effect of stock options and other share-based awards based on the treasury stock method (see Note 7) and the assumed conversion of preferred stock (see Note 8). Net earnings per common share were calculated as follows: Fiscal years ended June 30 2024 2023 2022 CONSOLIDATED AMOUNTS Net earnings $ 14,974 $ 14,738 $ 14,793 Less: Net earnings attributable to noncontrolling interests 95 85 51 Net earnings attributable to P&G 14,879 14,653 14,742 Less: Preferred dividends 284 282 281 Net earnings attributable to P&G available to common shareholders (Basic) $ 14,595 $ 14,371 $ 14,461 Net earnings attributable to P&G available to common shareholders (Diluted) $ 14,879 $ 14,653 $ 14,742 SHARES IN MILLIONS Basic weighted average common shares outstanding 2,360.1 2,368.2 2,410.3 Add effect of dilutive securities: Stock options and other unvested equity awards (1) 38.3 39.4 49.5 Convertible preferred shares (2) 73.6 76.3 79.3 Diluted weighted average common shares outstanding 2,471.9 2,483.9 2,539.1 NET EARNINGS PER COMMON SHARE Basic $ 6.18 $ 6.07 $ 6.00 Diluted $ 6.02 $ 5.90 $ 5.81 (1) Excludes 4 million, 19 million and 11 million in 2024, 2023 and 2022, respectively, of weighted average stock options outstanding because the exercise price of these options was greater than the average market value of the Company's stock or their effect was antidilutive. (2) An overview of preferred shares can be found in Note 8.

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	12 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION	SHARE-BASED COMPENSATION The Company has two primary share-based compensation programs under which we annually grant stock option, restricted stock unit (RSU) and performance stock unit (PSU) awards to certain managers and directors. In our main long-term incentive program, managers can elect to receive stock options or RSUs. All options vest after three years and have a 10-year life. Exercise prices on options are set equal to the market price of the underlying shares on the date of the grant. RSUs vest and settle in shares of common stock three years from the grant date. Senior-level executives participate in an additional long-term incentive program that awards PSUs, which are paid in shares after the end of a three-year performance period subject to pre-established performance goals. The program includes a Relative Total Shareholder Return (R-TSR) modifier under which the number of shares ultimately granted is also impacted by the Company's actual shareholder return relative to our consumer products competitive peer set. In addition to these long-term incentive programs, we award RSUs to the Company's non-employee directors and make other minor stock option and RSU grants to employees for which the terms are not substantially different from our long-term incentive awards. The Company's share-based compensation plan was approved by shareholders in 2019. Under the 2019 plan, a maximum of 150 million shares of common stock was authorized for issuance and a total of 77 million shares remain available for grant. The Company recognizes share-based compensation expense based on the fair value of the awards at the date of grant. The expense is recognized on a straight-line basis over the requisite service period. Awards to employees eligible for retirement prior to the award becoming fully vested are recognized as compensation expense ratably from the grant date through the date the employee first becomes eligible to retire and/or is no longer required to provide services to earn the award. Share-based compensation expense is included as part of Cost of products sold and SG&A in the Consolidated Statements of Earnings and includes an estimate of forfeitures, which is based on historical data. Total expense and related recognized tax benefit were as follows: Fiscal years ended June 30 2024 2023 2022 Stock options $ 270 $ 303 $ 271 RSUs and PSUs 292 242 257 Total share-based expense $ 562 $ 545 $ 528 Income tax benefit $ 103 $ 103 $ 88 We utilize an industry standard lattice-based valuation model to calculate the fair value for stock options granted. Assumptions utilized in the model, which are evaluated and revised to reflect market conditions and experience, were as follows: Fiscal years ended June 30 2024 2023 2022 Interest rate 4.6 - 5.5 % 3.7 - 4.1 % 0.1 - 1.6 % Weighted average interest rate 4.6 % 3.7 % 1.5 % Dividend yield 2.5 % 2.6 % 2.4 % Expected volatility 18 % 21 % 19 % Expected life in years 8.8 8.8 9.1 Lattice-based option valuation models incorporate ranges of assumptions for inputs and those ranges are disclosed in the preceding table. Expected volatilities are based on a combination of historical volatility of our stock and implied volatilities of call options on our stock. We use historical data to estimate option exercise and employee termination patterns within the valuation model. The expected life of options granted is derived from the output of the option valuation model and represents the average period of time that options granted are expected to be outstanding. The interest rate for periods within the contractual life of the options is based on the U.S. Treasury yield curve in effect at the time of grant. We utilize a Monte-Carlo simulation model to estimate the fair value of performance stock units granted. Assumptions utilized in the model are not substantially different from those used for stock options. A summary of options outstanding under the plans as of June 30, 2024, and activity during the year then ended is presented below: Options Options Weighted Average Exercise Price Weighted Average Contractual Life in Years Aggregate Intrinsic Value OUTSTANDING AT JULY 1, 2023 121,205 $ 104.18 Granted 8,737 147.76 Exercised (22,190) 85.08 Forfeited/expired (391) 134.69 OUTSTANDING AT JUNE 30, 2024 107,362 $ 111.59 5.1 $ 5,732 Exercisable 75,692 $ 99.51 3.9 $ 4,951 The following table provides additional information on stock options: Fiscal years ended June 30 2024 2023 2022 Weighted average grant-date fair value of options granted $ 34.25 $ 29.58 $ 21.55 Intrinsic value of options exercised 1,621 979 1,886 Grant-date fair value of options that vested 244 219 177 Cash received from options exercised 1,888 1,189 1,930 Actual tax benefit from options exercised 330 207 399 At June 30, 2024, $171 of compensation cost had not yet been recognized related to stock option grants. That cost is expected to be recognized over a remaining weighted average period of 1.6 years. A summary of non-vested RSUs and PSUs outstanding under the plans as of June 30, 2024, and activity during the year then ended is presented below: RSUs PSUs RSU and PSU awards Units (in thousands) Weighted Average Grant Date Fair Value Units (in thousands) Weighted Average Grant Date Fair Value Non-vested at July 1, 2023 3,172 $ 134.94 1,011 $ 142.40 Granted 1,519 147.15 524 155.86 Vested (1,299) 136.73 (506) 152.73 Forfeited (71) 143.02 (13) 155.36 Non-vested at June 30, 2024 3,321 $ 139.65 1,016 $ 144.06 At June 30, 2024, $243 of compensation cost had not yet been recognized related to RSUs and PSUs. That cost is expected to be recognized over a remaining weighted average period of 1.6 years. The total grant date fair value of shares vested was $256, $220 and $248 in 2024, 2023 and 2022, respectively. The Company settles equity issuances with treasury shares. We have no specific policy to repurchase common shares to mitigate the dilutive impact of options, RSUs and PSUs. However, we have historically made adequate discretionary purchases, based on cash availability, market trends and other factors, to offset the impacts of such activity.

POSTRETIREMENT BENEFITS AND EMP

POSTRETIREMENT BENEFITS AND EMPLOYEE STOCK OWNERSHIP PLAN	12 Months Ended
	Jun. 30, 2024
Retirement Benefits [Abstract]
POSTRETIREMENT BENEFITS AND EMPLOYEE STOCK OWNERSHIP PLAN	POSTRETIREMENT BENEFITS AND EMPLOYEE STOCK OWNERSHIP PLAN We offer various postretirement benefits to our employees. Defined Contribution Retirement Plans We have defined contribution plans, which cover the majority of our U.S. employees, as well as employees in certain other countries. These plans are fully funded. We generally make contributions to participants' accounts based on individual base salaries and years of service. Total global defined contribution expense was $425, $392 and $366 in 2024, 2023 and 2022, respectively. The primary U.S. defined contribution plan (the U.S. DC plan) comprises the majority of the expense for the Company's defined contribution plans. For the U.S. DC plan, the contribution rate is set annually. Total contributions for this plan approximated 13% of total participants' annual wages and salaries in 2024 and 2023 and 14% in 2022. We maintain The Procter & Gamble Profit Sharing Trust (Trust) and Employee Stock Ownership Plan (ESOP) to provide a portion of the funding for the U.S. DC plan and other retiree benefits (described below). Operating details of the ESOP are provided at the end of this Note. The fair value of the ESOP Series A shares allocated to participants reduces our cash contribution required to fund the U.S. DC plan. Defined Benefit Retirement Plans and Other Retiree Benefits We offer defined benefit retirement pension plans to certain employees. These benefits relate primarily to plans outside the U.S. and, to a lesser extent, plans assumed in previous acquisitions covering U.S. employees. We also provide certain other retiree benefits, primarily health care benefits for the majority of our U.S. employees who become eligible for these benefits when they meet minimum age and service requirements. The plans require cost sharing with retirees and the benefits are funded by ESOP Series B shares and certain other assets contributed by the Company. Obligation and Funded Status . The following provides a reconciliation of benefit obligations, plan assets and funded status of these defined benefit plans: Pension Benefits (1) Other Retiree Benefits (2) Fiscal years ended June 30 2024 2023 2024 2023 CHANGE IN BENEFIT OBLIGATION Benefit obligation at beginning of year (3) $ 12,499 $ 12,608 $ 2,933 $ 3,070 Service cost 164 173 68 71 Interest cost 527 430 157 142 Participants' contributions 14 13 56 50 Amendments 21 8 2 — Net actuarial loss/(gain) (11) (550) (268) (208) Special termination benefits 4 5 3 4 Currency translation and other (155) 363 (22) 31 Benefit payments (707) (551) (242) (227) BENEFIT OBLIGATION AT END OF YEAR (3) $ 12,355 $ 12,499 $ 2,687 $ 2,933 CHANGE IN PLAN ASSETS Fair value of plan assets at beginning of year $ 10,374 $ 10,173 $ 7,324 $ 6,889 Actual return on plan assets 1,058 37 784 482 Employer contributions 239 392 44 42 Participants' contributions 14 13 56 50 Currency translation and other (119) 310 — 1 ESOP debt impacts (4) — — 77 87 Benefit payments (707) (551) (242) (227) FAIR VALUE OF PLAN ASSETS AT END OF YEAR $ 10,857 $ 10,374 $ 8,043 $ 7,324 FUNDED STATUS $ (1,498) $ (2,125) $ 5,356 $ 4,391 (1) Primarily non-U.S.-based defined benefit retirement plans. (2) Primarily U.S.-based other postretirement benefit plans. (3) For the pension benefit plans, the benefit obligation is the projected benefit obligation. For other retiree benefit plans, the benefit obligation is the accumulated postretirement benefit obligation. (4) Represents the net impact of ESOP debt service requirements, which is netted against plan assets for other retiree benefits. The actuarial gain for pension benefits in 2024 was primarily related to updating of various assumptions in the plan, offset by updates in work experience and decreases in discount rates. The actuarial gain for other retiree benefits in 2024 was primarily related to updating various assumptions in the plan based work experience and an increase in discount rates. The actuarial gain for pension plans in 2023 was primarily related to increases in discount rates, offset by inflation-related pension benefit increases. The actuarial gain for other retiree benefits in 2023 was primarily related to increases in discount rates and a decrease in assumptions for medical claims costs. The underfunding of pension benefits is primarily a function of the different funding incentives that exist outside of the U.S. In certain countries, there are no legal requirements or financial incentives provided to companies to pre-fund pension obligations prior to their due date. In these instances, benefit payments are typically paid directly from the Company's cash as they become due. Pension Benefits Other Retiree Benefits As of June 30 2024 2023 2024 2023 CLASSIFICATION OF NET AMOUNT RECOGNIZED Noncurrent assets $ 1,458 $ 1,085 $ 6,047 $ 5,119 Current liabilities (73) (94) (38) (38) Noncurrent liabilities (2,884) (3,116) (653) (690) NET AMOUNT RECOGNIZED $ (1,498) $ (2,125) $ 5,356 $ 4,391 AMOUNTS RECOGNIZED IN ACCUMULATED OTHER COMPREHENSIVE (INCOME)/LOSS (AOCI) Net actuarial loss/(gain) $ 1,258 $ 1,818 $ (1,493) $ (1,160) Prior service cost/(credit) 140 156 (655) (787) NET AMOUNTS RECOGNIZED IN AOCI $ 1,398 $ 1,974 $ (2,148) $ (1,947) The accumulated benefit obligation for all defined benefit pension plans, which differs from the projected obligation in that it excludes the assumption of future salary increases, was $11.6 billion and $11.8 billion as of June 30, 2024 and 2023, respectively. Information related to the funded status of selected pension and other retiree benefits at June 30 is as follows: As of June 30 2024 2023 PENSION PLANS WITH A PROJECTED BENEFIT OBLIGATION IN EXCESS OF PLAN ASSETS Projected benefit obligation $ 7,613 $ 7,967 Fair value of plan assets 4,656 4,758 PENSION PLANS WITH AN ACCUMULATED BENEFIT OBLIGATION IN EXCESS OF PLAN ASSETS Accumulated benefit obligation $ 7,103 $ 7,442 Fair value of plan assets 4,624 4,677 OTHER RETIREE BENEFIT PLANS WITH AN ACCUMULATED BENEFIT OBLIGATION IN EXCESS OF PLAN ASSETS Accumulated benefit obligation $ 770 $ 818 Fair value of plan assets 79 89 Net Periodic Benefit Cost . Components of the net periodic benefit cost were as follows: Pension Benefits Other Retiree Benefits Fiscal years ended June 30 2024 2023 2022 2024 2023 2022 AMOUNTS RECOGNIZED IN NET PERIODIC BENEFIT COST/(CREDIT) Service cost $ 164 $ 173 $ 253 $ 68 $ 71 $ 86 Interest cost 527 430 253 157 142 99 Expected return on plan assets (610) (591) (684) (687) (611) (564) Amortization of net actuarial loss/(gain) 95 133 337 (38) (7) 11 Amortization of prior service cost/(credit) 37 26 28 (127) (125) (107) Amortization of net actuarial loss/(gain) due to settlements (13) — (5) — — — Special termination benefits 4 5 4 3 4 1 NET PERIODIC BENEFIT COST/(CREDIT) $ 203 $ 176 $ 186 $ (623) $ (526) $ (474) CHANGE IN PLAN ASSETS AND BENEFIT OBLIGATIONS RECOGNIZED IN AOCI Net actuarial loss/(gain) - current year $ (458) $ 4 $ (366) $ (79) Prior service cost/(credit) - current year 21 8 2 — Amortization of net actuarial (loss)/gain (95) (133) 38 7 Amortization of prior service (cost)/credit (37) (26) 127 125 Amortization of net actuarial (loss)/gain due to settlements 13 — — — Currency translation and other (21) 45 (2) — TOTAL CHANGE IN AOCI (576) (102) (201) 53 NET AMOUNTS RECOGNIZED IN PERIODIC BENEFIT COST/(CREDIT) AND AOCI $ (373) $ 74 $ (824) $ (473) The service cost component of the net periodic benefit cost is included in the Consolidated Statements of Earnings in Cost of products sold and SG&A. All other components are included in the Consolidated Statements of Earnings in Other non-operating income, net, unless otherwise noted. Assumptions . We determine our actuarial assumptions on an annual basis. These assumptions are weighted to reflect each country that may have an impact on the cost of providing retirement benefits. The weighted average assumptions used to determine benefit obligations recorded on the Consolidated Balance Sheets as of June 30, 2024 and 2023, were as follows: (1) Pension Benefits Other Retiree Benefits As of June 30 2024 2023 2024 2023 Discount rate 4.2 % 4.2 % 5.8 % 5.6 % Rate of compensation increase 2.8 % 2.9 % N/A N/A Interest crediting rate for cash balance plans 4.7 % 4.3 % N/A N/A Health care cost trend rates assumed for next year N/A N/A 6.3 % 6.1 % Rate to which the health care cost trend rate is assumed to decline (ultimate trend rate) N/A N/A 4.9 % 4.5 % Year that the rate reaches the ultimate trend rate N/A N/A 2029 2028 (1) Determined as of end of fiscal year. The weighted average assumptions used to determine net benefit cost recorded on the Consolidated Statements of Earnings for the fiscal years ended June 30 were as follows: (1) Pension Benefits Other Retiree Benefits Fiscal years ended June 30 2024 2023 2022 2024 2023 2022 Discount rate 4.2 % 3.7 % 1.7 % 5.6 % 5.0 % 3.2 % Expected return on plan assets 6.0 % 5.9 % 5.5 % 8.5 % 8.4 % 8.4 % Rate of compensation increase 2.9 % 2.8 % 2.7 % N/A N/A N/A Interest crediting rate for cash balance plans 4.3 % 4.3 % 4.4 % N/A N/A N/A (1) Determined as of beginning of fiscal year. For plans that make up the majority of our obligation, the Company calculates the benefit obligation and the related impacts on service and interest costs using specific spot rates along the corporate bond yield curve. For the remaining plans, the Company determines these amounts utilizing a single weighted average discount rate derived from the corporate bond yield curve used to measure the plan obligations. Several factors are considered in developing the estimate for the long-term expected rate of return on plan assets. For the defined benefit retirement plans, these factors include historical rates of return of broad equity and bond indices and projected long-term rates of return obtained from pension investment consultants. The expected long-term rates of return for plan assets are 8 - 9% for equities and 3 - 5% for bonds. For other retiree benefit plans, the expected long-term rate of return reflects that the assets are comprised primarily of Company stock. The expected rate of return on Company stock is based on the long-term projected return of 8.5% and reflects the historical pattern of returns. Plan Assets . Our investment objective for defined benefit retirement plan assets is to meet the plans' benefit obligations and to improve plan self-sufficiency for future benefit obligations. The investment strategies focus on asset class diversification, liquidity to meet benefit payments and an appropriate balance of long-term investment return and risk. Target ranges for asset allocations are determined by assessing different investment risks and matching the actuarial projections of the plans' future liabilities and benefit payments with current as well as expected long-term rates of return on the assets, taking into account investment return volatility and correlations across asset classes. Plan assets are diversified across several investment managers and are generally invested in liquid funds that are selected to track broad market equity and bond indices. Investment risk is carefully controlled with plan assets rebalanced to target allocations on a periodic basis and with continual monitoring of investment managers' performance relative to the investment guidelines established with each investment manager. Our target asset allocation for the fiscal year ended June 30, 2024, and actual asset allocation by asset category as of June 30, 2024 and 2023, were as follows: Target Asset Allocation Actual Asset Allocation at June 30 Pension Benefits Other Retiree Pension Benefits Other Retiree Benefits Asset Category 2024 2023 2024 2023 Cash 1 % 2 % 2 % 1 % 2 % 2 % Debt securities 61 % 1 % 61 % 60 % 1 % 1 % Equity securities 38 % 97 % 37 % 39 % 97 % 97 % TOTAL 100 % 100 % 100 % 100 % 100 % 100 % The following table sets forth the fair value of the Company's plan assets as of June 30, 2024 and 2023, segregated by level within the fair value hierarchy (refer to Note 9 for further discussion on the fair value hierarchy and fair value principles). Investments valued using net asset value as a practical expedient are not valued using the fair value hierarchy, but rather valued using the net asset value reported by the managers of the funds and as supported by the unit prices of actual purchase and sale transactions. Pension Benefits Other Retiree Benefits As of June 30 Fair Value Hierarchy Level 2024 2023 Fair Value Hierarchy Level 2024 2023 ASSETS AT FAIR VALUE Cash and cash equivalents 1 $ 267 $ 54 1 $ 135 $ 148 Company common stock — — 1 451 368 Company preferred stock (1) — — 2 7,380 6,721 Fixed income securities (2) 2 1,076 1,190 — — Insurance contracts (3) 3 165 93 — — TOTAL ASSETS IN THE FAIR VALUE HIERARCHY 1,508 1,337 7,966 7,237 Investments valued at net asset value (4) 9,349 9,037 77 87 TOTAL ASSETS AT FAIR VALUE $ 10,857 $ 10,374 $ 8,043 $ 7,324 (1) Company preferred stock is valued based on the value of Company common stock and is presented net of ESOP debt discussed below. (2) Fixed income securities are estimated by using pricing models or quoted prices of securities with similar characteristics. (3) Fair values of insurance contracts are valued based on either their cash equivalent value or models that project future cash flows and discount the future amounts to a present value using market-based observable inputs, including credit risk and interest rate curves. The activity for Level 3 assets is not significant for all years presented. (4) Investments valued using net asset value as a practical expedient are primarily equity and fixed income collective funds. Cash Flows . Management's best estimate of cash requirements and discretionary contributions for the defined benefit retirement plans and other retiree benefit plans for the fiscal year ending June 30, 2025, is $180 and $53, respectively. Expected contributions are dependent on many variables, including the variability of the market value of the plan assets as compared to the benefit obligation and other market or regulatory conditions. In addition, we take into consideration our business investment opportunities and resulting cash requirements. Accordingly, actual funding may differ significantly from current estimates. Total benefit payments expected to be paid to participants, which include payments funded from the Company's assets and payments from the plans are as follows: Fiscal years ending June 30 Pension Benefits Other Retiree Benefits EXPECTED BENEFIT PAYMENTS 2025 $ 635 $ 166 2026 595 179 2027 615 176 2028 666 181 2029 684 187 2030 - 2034 3,747 1,032 Employee Stock Ownership Plan We maintain the ESOP to provide funding for certain employee benefits discussed in the preceding paragraphs. The ESOP borrowed $1.0 billion in 1989, and the proceeds were used to purchase Series A ESOP Convertible Class A Preferred Stock to fund a portion of the U.S. DC plan. Principal and interest requirements of the borrowing were paid by the Trust from dividends on the preferred shares and from advances provided by the Company. The original borrowing of $1.0 billion has been repaid in full. No advances from the Company remain outstanding at June 30, 2024. Each share is convertible at the option of the holder into one share of the Company's common stock. The dividend for the current year was equal to the common stock dividend of $3.83 per share. The liquidation value is $6.82 per share. In 1991, the ESOP borrowed an additional $1.0 billion. The proceeds were used to purchase Series B ESOP Convertible Class A Preferred Stock to fund a portion of retiree health care benefits. These shares, net of the ESOP's debt, are considered plan assets of the other retiree benefits plan discussed above. The original borrowings of $1.0 billion were repaid in 2021. Debt service requirements were funded by preferred stock dividends, cash contributions and advances provided by the Company, of which $737 are outstanding at June 30, 2024. Each share is convertible at the option of the holder into one share of the Company's common stock. The dividend for the current year was equal to the common stock dividend of $3.83 per share. The liquidation value is $12.96 per share. Our ESOP accounting practices are consistent with current ESOP accounting guidance, including the permissible continuation of certain provisions from prior accounting guidance. ESOP debt, which was guaranteed by the Company, was recorded as debt with an offset to the Reserve for ESOP debt retirement, which is presented within Shareholders' equity. Advances to the ESOP by the Company are recorded as an increase in the Reserve for ESOP debt retirement. Interest incurred on the ESOP debt was recorded as Interest expense. Dividends on all preferred shares are charged to Retained earnings. The series A and B preferred shares of the ESOP are allocated to employees based on debt service requirements. The number of preferred shares outstanding at June 30 was as follows: Shares in thousands 2024 2023 2022 Allocated 22,724 24,449 25,901 Unallocated — 535 1,123 TOTAL SERIES A 22,724 24,984 27,024 Allocated 33,723 32,172 30,719 Unallocated 15,864 17,867 20,120 TOTAL SERIES B 49,587 50,039 50,839 For purposes of calculating diluted net earnings per common share, the preferred shares held by the ESOP are considered converted from inception.

RISK MANAGEMENT ACTIVITIES AND

RISK MANAGEMENT ACTIVITIES AND FAIR VALUE MEASUREMENTS	12 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
RISK MANAGEMENT ACTIVITIES AND FAIR VALUE MEASUREMENTS	RISK MANAGEMENT ACTIVITIES AND FAIR VALUE MEASUREMENTS As a multinational company with diverse product offerings, we are exposed to market risks, such as changes in interest rates, currency exchange rates and commodity prices. We evaluate exposures on a centralized basis to take advantage of natural exposure correlation and netting. To the extent we choose to manage volatility associated with the net exposures, we enter into various financial transactions that we account for using the applicable accounting guidance for derivative instruments and hedging activities. These financial transactions are governed by our policies covering acceptable counterparty exposure, instrument types and other hedging practices. If the Company elects to do so and if the instrument meets certain specified accounting criteria, management designates derivative instruments as cash flow hedges, fair value hedges or net investment hedges. We record derivative instruments at fair value and the accounting for changes in the fair value depends on the intended use of the derivative, the resulting designation and the effectiveness of the instrument in offsetting the risk exposure it is designed to hedge. We generally have a high degree of effectiveness between the exposure being hedged and the hedging instrument. Credit Risk Management We have counterparty credit guidelines and normally enter into transactions with investment grade financial institutions, to the extent commercially viable. Counterparty exposures are monitored daily and downgrades in counterparty credit ratings are reviewed on a timely basis. We have not incurred, and do not expect to incur, material credit losses on our risk management or other financial instruments. Substantially all of the Company's financial instruments used in hedging transactions are governed by industry standard netting and collateral agreements with counterparties. If the Company's credit rating were to fall below the levels stipulated in the agreements, the counterparties could demand either collateralization or termination of the arrangements. The aggregate fair value of the instruments covered by these contractual features that are in a net liability position was $307 and $1,088 as of June 30, 2024 and 2023, respectively. The Company has not been required to post collateral as a result of these contractual features. Interest Rate Risk Management Our policy is to manage interest cost using a mixture of fixed-rate and variable-rate debt. To manage this risk in a cost-efficient manner, we enter into interest rate swaps whereby we agree to exchange with the counterparty, at specified intervals, the difference between fixed and variable interest amounts calculated by reference to a notional amount. We designate certain interest rate swaps on fixed rate debt that meet specific accounting criteria as fair value hedges. For fair value hedges, the changes in the fair value of both the hedging instruments and the underlying debt obligations are immediately recognized in earnings. Foreign Currency Risk Management We manufacture and sell our products and finance our operations in a number of countries throughout the world. As a result, we are exposed to movements in foreign currency exchange rates. We leverage the Company’s diversified portfolio of exposures as a natural hedge. In certain cases, we enter into non-qualifying foreign currency contracts to hedge certain balance sheet items subject to revaluation. The change in fair value of these instruments and the underlying exposure are both immediately recognized in earnings. To manage exchange rate risk related to our intercompany financing, we primarily use forward contracts and currency swaps. The change in fair value of these non-qualifying instruments is immediately recognized in earnings, substantially offsetting the foreign currency mark-to-market impact of the related exposure. Net Investment Hedging We hedge certain net investment positions in foreign subsidiaries. To accomplish this, we either borrow directly in foreign currencies and designate all or a portion of the foreign currency debt as a hedge of the applicable net investment position or we enter into foreign currency swaps that are designated as hedges of net investments. The time value component of the net investment hedge currency swaps is excluded from the assessment of hedge effectiveness. Changes in the fair value of the swap, including changes in the fair value of the excluded time value component, are recognized in OCI and offset the value of the net investment being hedged. The time value component is subsequently reported in income on a systematic basis. Commodity Risk Management Certain raw materials used in our products or production processes are subject to price volatility caused by weather, supply conditions, political and economic variables and other unpredictable factors. As of and during the fiscal years ended June 30, 2024 and 2023, we did not have any financial commodity hedging activity. Insurance We self-insure for most insurable risks. However, we purchase insurance for Directors and Officers Liability and certain other coverage where it is required by law or by contract. Fair Value Hierarchy Accounting guidance on fair value measurements for certain financial assets and liabilities requires that financial assets and liabilities carried at fair value be classified and disclosed in one of the following categories: • Level 1: Quoted market prices in active markets for identical assets or liabilities. • Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data. • Level 3: Unobservable inputs reflecting the reporting entity's own assumptions or external inputs from inactive markets. The Company had no significant activity with Level 3 assets and liabilities during the periods presented. Except for the impairment of the Gillette indefinite-lived intangible asset discussed in Note 4, there were no significant assets or liabilities that were re-measured at fair value on a non-recurring basis for the periods presented. When applying fair value principles in the valuation of assets and liabilities, we are required to maximize the use of quoted market prices and minimize the use of unobservable inputs. The Company has not changed its valuation techniques used in measuring the fair value of any financial assets or liabilities during the year. When active market quotes are not available for financial assets and liabilities, we use industry standard valuation models. Where applicable, these models project future cash flows and discount the future amounts to a present value using market-based observable inputs including credit risk, interest rate curves and forward and spot prices for currencies. In circumstances where market-based observable inputs are not available, management judgment is used to develop assumptions to estimate fair value. Assets and Liabilities Measured at Fair Value Cash equivalents were $8.0 billion and $6.8 billion as of June 30, 2024 and 2023, respectively, and are classified as Level 1 within the fair value hierarchy. The Company had no other material investments in debt or equity securities during the periods presented. The fair value of long-term debt was $27.7 billion and $26.9 billion as of June 30, 2024 and 2023, respectively. This includes the current portion of long-term debt instruments ($3.8 billion as of June 30, 2024, and $3.9 billion as of June 30, 2023). Certain long-term debt (debt designated as a fair value hedge) is recorded at fair value. All other long-term debt is recorded at amortized cost but is measured at fair value for disclosure purposes. We consider our debt to be Level 2 in the fair value hierarchy. Fair values are generally estimated based on quoted market prices for identical or similar instruments. Disclosures about Financial Instruments The notional amounts and fair values of financial instruments used in hedging transactions as of June 30, 2024 and 2023, are as follows: Notional Amount Fair Value Asset Fair Value (Liability) As of June 30 2024 2023 2024 2023 2024 2023 DERIVATIVES IN FAIR VALUE HEDGING RELATIONSHIPS Interest rate contracts $ 2,993 $ 4,044 $ — $ — $ (325) $ (445) DERIVATIVES IN NET INVESTMENT HEDGING RELATIONSHIPS Foreign currency interest rate contracts $ 10,140 $ 11,005 $ 119 $ 26 $ (31) $ (631) TOTAL DERIVATIVES DESIGNATED AS HEDGING INSTRUMENTS $ 13,133 $ 15,049 $ 119 $ 26 $ (356) $ (1,076) DERIVATIVES NOT DESIGNATED AS HEDGING INSTRUMENTS Foreign currency contracts $ 3,192 $ 3,489 $ 1 $ 7 $ (23) $ (42) TOTAL DERIVATIVES AT FAIR VALUE $ 16,325 $ 18,538 $ 120 $ 33 $ (379) $ (1,118) The fair value of the interest rate derivative asset/(liability) directly offsets the cumulative amount of the fair value hedging adjustment included in the carrying amount of the underlying debt obligation. The carrying amount of the underlying debt obligation, which includes the unamortized discount or premium and the fair value adjustment, was $2.7 billion and $3.6 billion as of June 30, 2024 and 2023, respectively. In addition to the foreign currency derivative contracts designated as net investment hedges, certain of our foreign currency denominated debt instruments are designated as net investment hedges. The carrying value of those debt instruments designated as net investment hedges, which includes the adjustment for the foreign currency transaction gain or loss on those instruments, was $11.9 billion and $11.8 billion as of June 30, 2024 and 2023, respectively. Derivative assets Derivative liabilities Before tax gains/(losses) on our financial instruments in hedging relationships are categorized as follows: Amount of Gain/(Loss) Recognized in OCI on Derivatives Fiscal years ended June 30 2024 2023 DERIVATIVES IN NET INVESTMENT HEDGING RELATIONSHIPS (1) (2) Foreign currency interest rate contracts $ 163 $ (544) (1) For the derivatives in net investment hedging relationships, the amount of gain excluded from effectiveness testing, which was recognized in earnings, was $229 and $238 for the fiscal years ended June 30, 2024 and 2023, respectively. (2) In addition to the foreign currency derivative contracts designated as net investment hedges, certain of our foreign currency denominated debt instruments are designated as net investment hedges. The amount of gain/(loss) recognized in AOCI for such instruments was $255 and $(315), for the fiscal years ended June 30, 2024 and 2023, respectively. Amount of Gain/(Loss) Recognized in Earnings Fiscal years ended June 30 2024 2023 DERIVATIVES IN FAIR VALUE HEDGING RELATIONSHIPS Interest rate contracts $ 120 $ (141) DERIVATIVES NOT DESIGNATED AS HEDGING INSTRUMENTS Foreign currency contracts $ (91) $ (97) The gains/(losses) on the derivatives in fair value hedging relationships are fully offset by the mark-to-market impact of the related exposure. These are both recognized in Interest expense. The losses on derivatives not designated as hedging instruments are substantially offset by the currency mark-to-market of the related exposure. These are both recognized in Selling, general and administrative expense (SG&A).

SHORT-TERM AND LONG-TERM DEBT

SHORT-TERM AND LONG-TERM DEBT	12 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
SHORT-TERM AND LONG-TERM DEBT	SHORT-TERM AND LONG-TERM DEBT As of June 30 2024 2023 DEBT DUE WITHIN ONE YEAR Current portion of long-term debt $ 3,838 $ 3,951 Commercial paper 3,327 6,236 Other 26 42 TOTAL $ 7,191 $ 10,229 Weighted average interest rate of debt due within one year (1) 3.7 % 4.2 % (1) Weighted average interest rate of debt due within one year includes the effects of interest rate swaps discussed in Note 9. As of June 30 2024 2023 LONG-TERM DEBT 3.10% USD note due August 2023 $ — $ 1,000 1.13% EUR note due November 2023 — 1,359 0.50% EUR note due October 2024 534 544 0.63% EUR note due October 2024 855 870 0.55% USD note due October 2025 1,000 1,000 4.10% USD note due January 2026 650 650 2.70% USD note due February 2026 600 600 1.00% USD note due April 2026 1,000 1,000 3.25% EUR note due August 2026 695 707 2.45% USD note due November 2026 875 875 1.90% USD note due February 2027 1,000 1,000 2.80% USD note due March 2027 500 500 4.88% EUR note due May 2027 1,069 1,087 2.85% USD note due August 2027 750 750 3.95% USD note due January 2028 600 600 3.15% EUR note due April 2028 695 — 1.20% EUR note due October 2028 855 870 4.35% USD note due January 2029 600 — 1.25% EUR note due October 2029 534 544 3.00% USD note due March 2030 1,500 1,500 0.35% EUR note due May 2030 534 544 1.20% USD note due October 2030 1,250 1,250 1.95% USD note due April 2031 1,000 1,000 3.25% EUR note due August 2031 695 707 2.30% USD note due February 2032 850 850 4.05% USD note due January 2033 850 850 4.55% USD note due January 2034 750 — 3.20% EUR note due April 2034 909 — 5.55% USD note due March 2037 716 716 1.88% EUR note due October 2038 534 544 3.55% USD note due March 2040 516 516 0.90% EUR note due November 2041 641 652 All other long-term debt 5,550 5,244 Current portion of long-term debt (3,838) (3,951) TOTAL $ 25,269 $ 24,378 Weighted average interest rate of long-term debt (1) 3.2% 2.9% (1) Weighted average interest rate of long-term debt includes the effects of interest rate swaps discussed in Note 9. Long-term debt maturities during the next five fiscal years are as follows: Fiscal years ending June 30 2025 2026 2027 2028 2029 Debt maturities $3,838 $3,367 $4,350 $2,074 $1,867 Credit Facilities

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS)	12 Months Ended
	Jun. 30, 2024
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS)	ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) The table below presents the changes in Accumulated other comprehensive income/(loss) attributable to Procter & Gamble (AOCI), including the reclassifications out of AOCI by component: Changes in Accumulated Other Comprehensive Income/(Loss) by Component Investment Securities Post-retirement Benefit Plans Foreign Currency Translation Total AOCI BALANCE AT JUNE 30, 2022, NET OF TAX $ 20 $ 27 $ (12,236) $ (12,189) Other comprehensive income/(loss), before tax: OCI before reclassifications (9) 22 (268) (255) Amounts reclassified to the Consolidated Statement of Earnings — 27 — 27 Total other comprehensive income/(loss), before tax (9) 49 (268) (228) Tax effect 2 (9) 197 190 Total other comprehensive income/(loss), net of tax (7) 40 (71) (38) Less: OCI attributable to non-controlling interests, net of tax — — (7) (7) BALANCE AT JUNE 30, 2023, NET OF TAX 13 67 (12,300) (12,220) Other comprehensive income/(loss), before tax: OCI before reclassifications (4) 823 (376) 443 Amounts reclassified to the Consolidated Statement of Earnings — (47) 216 169 Total other comprehensive income/(loss), before tax (4) 776 (160) 612 Tax effect 1 (230) (66) (295) Total other comprehensive income/(loss), net of tax (3) 546 (226) 317 Less: OCI attributable to non-controlling interests, net of tax — — (3) (3) BALANCE AT JUNE 30, 2024, NET OF TAX $ 10 $ 613 $ (12,522) $ (11,900) The below provides additional details on amounts reclassified from AOCI into the Consolidated Statement of Earnings: • Postretirement benefit plan amounts are reclassified from AOCI into Other non-operating income, net and included in the computation of net periodic postretirement costs (see Note 8). •

LEASES

LEASES	12 Months Ended
	Jun. 30, 2024
Leases [Abstract]
LEASES	LEASES The Company determines whether a contract contains a lease at the inception of a contract by determining if the contract conveys the right to control the use of identified property, plant or equipment for a period of time in exchange for consideration. We lease certain real estate, machinery, equipment, vehicles and office equipment for varying periods. Many of these leases include an option to either renew or terminate the lease. For purposes of calculating lease liabilities, these options are included within the lease term when it has become reasonably certain that the Company will exercise such options. The incremental borrowing rate utilized to calculate our lease liabilities is based on the information available at commencement date, as most of the leases do not provide an implicit borrowing rate. Our operating lease agreements do not contain any material guarantees or restrictive covenants. The Company does not have any material finance leases or sublease activities. Short-term leases, defined as leases with initial terms of 12 months or less, are not reflected on the Consolidated Balance Sheets. Lease expense for such short-term leases is not material. The most significant assets in our leasing portfolio relate to real estate and vehicles. For purposes of calculating lease liabilities for such leases, we have combined lease and non-lease components. The components of the Company’s total operating lease cost for the fiscal years ended June 30, 2024, 2023 and 2022, were as follows: Fiscal years ended June 30 2024 2023 2022 Operating lease cost $ 252 $ 229 $ 220 Variable lease cost (1) 91 79 89 Total lease cost $ 343 $ 308 $ 309 (1) Includes primarily costs for utilities, common area maintenance, property taxes and other operating costs associated with operating leases that are not included in the lease liability and are recognized in the period in which they are incurred. Supplemental balance sheet and other information related to leases is as follows: As of June 30 2024 2023 Operating leases: Right-of-use assets (Other noncurrent assets) $ 875 $ 781 Current lease liabilities (Accrued and other liabilities) 243 222 Noncurrent lease liabilities (Other noncurrent liabilities) 666 595 Total operating lease liabilities $ 909 $ 817 Weighted average remaining lease term: Operating leases 6.0 years 6.2 years Weighted average discount rate: Operating leases 4.5 % 3.5 % At June 30, 2024, future payments of operating lease liabilities were as follows: Operating Leases June 30, 2024 1 year $ 244 2 years 206 3 years 164 4 years 122 5 years 105 Over 5 years 190 Total lease payments 1,031 Less: Interest (122) Present value of lease liabilities $ 909 Total cash paid for amounts included in the measurement of lease liabilities was $255 and $233 for the fiscal years ended June 30, 2024 and 2023, respectively. The right-of-use assets obtained in exchange for lease liabilities were $357 and $213 for the fiscal years ended June 30, 2024 and 2023, respectively.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Guarantees In conjunction with certain transactions, primarily divestitures, we may provide routine indemnifications (e.g., indemnification for representations and warranties and retention of previously existing environmental, tax and employee liabilities) for which terms range in duration and, in some circumstances, are not explicitly defined. The maximum obligation under some indemnifications is also not explicitly stated and, as a result, the overall amount of these obligations cannot be reasonably estimated. We have not made significant payments for these indemnifications. We believe that if we were to incur a loss on any of these matters, the loss would not have a material effect on our financial position, results of operations or cash flows. In certain situations, we guarantee loans for suppliers and customers. The total amount of guarantees issued under such arrangements is not material. Off-Balance Sheet Arrangements We do not have off-balance sheet financing arrangements, including variable interest entities, that have a material impact on our financial statements. Purchase Commitments We have purchase commitments for materials, supplies, services and property, plant and equipment as part of the normal course of business. Commitments made under take-or-pay obligations are as follows: Fiscal years ending June 30 2025 2026 2027 2028 2029 Thereafter Purchase obligations $ 1,092 $ 596 $ 314 $ 214 $ 162 $ 232 Such amounts represent minimum commitments under take-or-pay agreements with suppliers and are in line with expected usage. These amounts include purchase commitments related to service contracts for information technology, human resources management and facilities management activities that have been outsourced to third-party suppliers. Due to the proprietary nature of many of our materials and processes, certain supply contracts contain penalty provisions for early termination. We do not expect to incur penalty payments under these provisions that would materially affect our financial position, results of operations or cash flows. Litigation We are subject, from time to time, to certain legal proceedings and claims arising out of our business, which cover a wide range of matters, including antitrust and trade regulation, product liability, advertising, contracts, environmental, patent and trademark matters, labor and employment matters and tax. While considerable uncertainty exists, in the opinion of management and our counsel, the ultimate resolution of the various lawsuits and claims will not materially affect our financial position, results of operations or cash flows. We are also subject to contingencies pursuant to environmental laws and regulations that in the future may require us to take action to correct the effects on the environment of prior manufacturing and waste disposal practices. Based on currently available information, we do not believe the ultimate resolution of environmental remediation will materially affect our financial position, results of operations or cash flows.

SUPPLIER FINANCE PROGRAMS

SUPPLIER FINANCE PROGRAMS	12 Months Ended
	Jun. 30, 2024
Payables and Accruals [Abstract]
SUPPLIER FINANCE PROGRAMS	SUPPLIER FINANCE PROGRAMS Accounts payable

SUBSEQUENT EVENT

SUBSEQUENT EVENT	12 Months Ended
	Jun. 30, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENT	SUBSEQUENT EVENT On July 1, 2024, the Company completed the divestiture of its business in Argentina. The Company expects to record a non-cash charge of approximately $750 for accumulated foreign currency translation losses in the first quarter of the fiscal year ended June 30, 2025.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ 14,879	$ 14,653	$ 14,742

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Jun. 30, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation
Use of Estimates	Use of Estimates Preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) requires management to make estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and accompanying disclosures. These estimates are based on management's best knowledge of current events and actions the Company may undertake in the future. Estimates are used in accounting for, among other items, consumer and trade promotion accruals, restructuring reserves, pensions, postretirement benefits, stock options, valuation of acquired intangible assets, useful lives for depreciation and amortization of long-lived assets, future cash flows associated with impairment testing for goodwill, indefinite-lived intangible assets and other long-lived assets, deferred tax assets and liabilities, uncertain income tax positions and contingencies. Actual results may ultimately differ from estimates, although management does not generally believe such differences would materially affect the financial statements in any individual year. However, regarding ongoing impairment testing of goodwill and indefinite-lived intangible assets, significant deterioration in future cash flow projections or other assumptions used in estimating fair values versus those anticipated at the time of the initial valuations, could result in impairment charges that materially affect the financial statements in a given year.
Revenue Recognition	Revenue Recognition Our revenue is primarily generated from the sale of finished product to customers. Those sales predominantly contain a single performance obligation and revenue is recognized at a single point in time when ownership, risks and rewards transfer, which can be on the date of shipment or the date of receipt by the customer. A provision for payment discounts and product return allowances is recorded as a reduction of sales in the same period the revenue is recognized. The revenue recorded is presented net of sales and other taxes we collect on behalf of governmental authorities. The revenue includes shipping and handling costs, which generally are included in the list price to the customer. Trade promotions, consisting primarily of customer pricing allowances, merchandising funds and consumer coupons, are offered through various programs to customers and consumers. Sales are recorded net of trade promotion spending, which is recognized as incurred at the time of the sale. Most of these arrangements have terms of approximately one year. Accruals for expected payouts under these programs are included as accrued marketing and promotion in the Accrued and other liabilities line item in the Consolidated Balance Sheets.
Cost of Products Sold	Cost of Products Sold Cost of products sold is primarily comprised of direct materials and supplies consumed in the manufacturing of product, as well as manufacturing labor, depreciation expense and direct overhead expenses necessary to acquire and convert the purchased materials and supplies into finished products. Cost of products sold also includes the cost to distribute products to customers, inbound freight costs, internal transfer costs, warehousing costs and other shipping and handling activity.
Selling, General and Administrative Expense	Selling, General and Administrative Expense Selling, general and administrative expense (SG&A) is primarily comprised of marketing expenses, selling expenses, research and development costs, administrative and other indirect overhead costs, depreciation and amortization expense on non-manufacturing assets and other miscellaneous operating items. Research and development costs are charged to expense as incurred and were $2.0 billion in 2024, 2023 and 2022. Advertising costs, charged to expense as incurred, include television, print, radio, digital and in-store advertising expenses and were $9.6 billion in 2024, $8.0 billion in 2023 and $7.9 billion in 2022. Non-advertising related components of the Company's total marketing spending reported in SG&A include costs associated with consumer promotions, product sampling and sales aids.
Other Non-Operating Income, Net	Other Non-Operating Income, Net Other non-operating income, net primarily includes divestiture gains, net non-service impacts related to postretirement benefit plans, investment income, accumulated foreign currency translation losses and other non-operating items.
Currency Translation	Currency Translation Financial statements of operating subsidiaries outside the U.S. generally are measured using the local currency as the functional currency. Adjustments to translate those statements into U.S. dollars are recorded in Other comprehensive income (OCI). For subsidiaries operating in highly inflationary economies, the U.S. dollar is the functional currency. Re-measurement adjustments for financial statements in highly inflationary economies and other transactional exchange gains and losses are reflected in earnings.
Cash Flow Presentation	Cash Flow Presentation
Investments	Investments The Company holds minor equity investments in certain companies over which we exert significant influence, but do not control the financial and operating decisions. These are accounted for as equity method investments. Other equity investments that are not controlled, and over which we do not have the ability to exercise significant influence, and for which there is a readily determinable market value, are recorded at fair value, with gains and losses recorded through net earnings. Equity investments without readily determinable fair values are measured at cost, less impairments, plus or minus observable price changes. Equity investments are included as Other noncurrent assets in the Consolidated Balance Sheets. The Company also holds highly liquid investments, primarily money market funds and time deposits. Such investments are considered cash equivalents and are included within Cash and cash equivalents in the Consolidated Balance Sheets.
Inventory Valuation	Inventory Valuation Inventories are valued at the lower of cost or net realizable value. Product-related inventories are maintained on the first-in, first-out method. The cost of spare part inventories is maintained using the average-cost method.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment is recorded at cost reduced by accumulated depreciation. Depreciation expense is recognized over the assets' estimated useful lives using the straight-line method. Machinery and equipment includes office furniture and fixtures (15-year life), computer equipment and capitalized software (3- to 5-year lives) and manufacturing equipment (3- to 20-year lives). Buildings are depreciated over an estimated useful life of 40 years. Estimated useful lives are periodically reviewed and, when appropriate, changes are made prospectively. When certain events or changes in operating conditions occur, asset lives may be adjusted and an impairment assessment may be performed on the recoverability of the carrying amounts.
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Goodwill and indefinite-lived intangible assets are not amortized but are evaluated for impairment annually or more often if indicators of a potential impairment are present. Our annual impairment testing of goodwill is performed separately from our impairment testing of indefinite-lived intangible assets. We have acquired brands that have been determined to have indefinite lives. We evaluate several factors to determine whether an indefinite life is appropriate, including the competitive environment, market share, brand history, underlying product life cycles, operating plans and the macroeconomic environment of the countries in which the brands are sold. In addition, when certain events or changes in operating conditions occur, an additional impairment assessment is performed and indefinite-lived assets may be adjusted to a determinable life. The cost of intangible assets with determinable useful lives is amortized to reflect the pattern of economic benefits consumed, either on a straight-line or accelerated basis over the estimated periods benefited. Patents, technology and other intangible assets with contractual terms are generally amortized over their respective legal or contractual lives. Customer relationships, brands and other non-contractual intangible assets with determinable lives are amortized over periods generally ranging from 5 to 30 years. When certain events or changes in operating conditions occur, an impairment assessment is performed and remaining lives of intangible assets with determinable lives may be adjusted. For additional details on goodwill and intangible assets see Note 4.
Fair Values of Financial Instruments	Fair Values of Financial Instruments Certain financial instruments are required to be recorded at fair value. Changes in assumptions or estimation methods could affect the fair value estimates; however, we do not believe any such changes would have a material impact on our financial condition, results of operations or cash flows. Other financial instruments, including cash equivalents, certain investments and certain short-term debt, are recorded at cost, which approximates fair value. The fair values of long-term debt and financial instruments are disclosed in Note 9.
New Accounting Pronouncements and Policies	New Accounting Pronouncements and Policies In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2023-07, “Segment Reporting: Improvements to Reportable Segment Disclosures.” This guidance requires disclosure of incremental segment information on an annual and interim basis. This amendment is effective for our fiscal year ending June 30, 2025, and our interim periods within the fiscal year ending June 30, 2026. We are currently assessing the impact of this guidance on our disclosures. In December 2023, the FASB issued ASU No. 2023-09, “Income Taxes: Improvements to Income Tax Disclosures.” This guidance requires consistent categories and greater disaggregation of information in the rate reconciliation and disclosures of income taxes paid by jurisdiction. This amendment is effective for our fiscal year ending June 30, 2026. We are currently assessing the impact of this guidance on our disclosures. No other new accounting pronouncement issued or effective during the fiscal year had, or is expected to have, a material impact on our Consolidated Financial Statements.

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	12 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Operating segments that individually accounted for 5% or more of consolidated net sales are as follows: % of Net sales by operating segment (1) Fiscal years ended June 30 2024 2023 2022 Fabric Care 24% 23% 23% Home Care 12% 12% 12% Baby Care 9% 10% 10% Family Care 9% 8% 9% Hair Care 9% 9% 9% Skin and Personal Care 9% 9% 9% Grooming (2) 8% 8% 6% Oral Care 8% 8% 8% Feminine Care 6% 7% 6% Personal Health Care 6% 6% 6% Other (2) —% —% 2% TOTAL 100% 100% 100% (1) % of Net sales by operating segment excludes sales recorded in Corporate. (2) Effective July 1, 2022, the Grooming Sector Business Unit completed the full integration of its Shave Care and Appliances categories to cohesively serve consumers' grooming needs. This transition included the integration of the management team, strategic decision-making, innovation plans, financial targets, budgets and internal management reporting. For the fiscal year ended June 30, 2022, Appliances was presented in Other.
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas	Net sales and long-lived assets in the United States and internationally were as follows (in billions): Fiscal years ended June 30 2024 2023 2022 NET SALES United States $ 40.5 $ 38.7 $ 36.5 International $ 43.5 $ 43.3 $ 43.7 LONG-LIVED ASSETS (1) United States $ 12.0 $ 11.4 $ 10.7 International $ 10.2 $ 10.5 $ 10.5 (1)
Reconciliation of Revenue from Segments to Consolidated	Global Segment Results Net Sales Earnings/(Loss) Net Earnings/(Loss) Depreciation Total Capital BEAUTY 2024 $ 15,220 $ 3,805 $ 2,963 $ 399 $ 6,103 $ 280 2023 15,008 4,009 3,178 376 6,196 287 2022 14,740 3,946 3,160 348 6,055 331 GROOMING 2024 6,654 1,845 1,477 335 19,082 337 2023 6,419 1,806 1,461 335 20,601 300 2022 6,587 1,835 1,490 361 20,482 260 HEALTH CARE 2024 11,793 2,941 2,258 381 8,416 524 2023 11,226 2,759 2,125 352 8,480 466 2022 10,824 2,618 2,006 376 7,888 410 FABRIC & HOME CARE 2024 29,495 7,339 5,687 710 8,907 1,076 2023 28,371 6,303 4,828 675 8,669 979 2022 27,556 5,729 4,386 672 8,567 988 BABY, FEMININE & FAMILY CARE 2024 20,277 5,253 4,020 824 8,497 979 2023 20,217 4,623 3,545 804 8,517 994 2022 19,736 4,267 3,266 826 8,443 932 CORPORATE 2024 601 (2,422) (1,430) 247 71,365 126 2023 765 (1,147) (399) 172 68,366 36 2022 744 (400) 485 224 65,773 235 TOTAL COMPANY 2024 $ 84,039 $ 18,761 $ 14,974 $ 2,896 $ 122,370 $ 3,322 2023 82,006 18,353 14,738 2,714 120,829 3,062 2022 80,187 17,995 14,793 2,807 117,208 3,156

SUPPLEMENTAL FINANCIAL INFORM_2

SUPPLEMENTAL FINANCIAL INFORMATION (Tables)	12 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Property, Plant and Equipment	The components of property, plant and equipment were as follows: As of June 30 2024 2023 PROPERTY, PLANT AND EQUIPMENT Machinery and equipment $ 37,507 $ 36,521 Buildings 8,534 8,277 Construction in progress 3,126 2,980 Land 895 867 TOTAL PROPERTY, PLANT AND EQUIPMENT 50,063 48,645 Accumulated depreciation (27,911) (26,736) PROPERTY, PLANT AND EQUIPMENT, NET $ 22,152 $ 21,909
Other Liabilities	Selected components of current and noncurrent liabilities were as follows: As of June 30 2024 2023 ACCRUED AND OTHER LIABILITIES - CURRENT Accrued marketing and promotion $ 4,172 $ 3,894 Accrued compensation 2,161 2,030 Taxes payable 1,042 828 Accrued interest 282 235 Lease liabilities 243 222 Restructuring reserves 166 174 Derivative liabilities 54 631 Other 2,953 2,915 TOTAL $ 11,073 $ 10,929 OTHER NONCURRENT LIABILITIES Pension benefit obligations $ 2,884 $ 3,116 Uncertain tax positions 723 622 Lease liabilities 666 595 Other retiree benefit obligations 653 690 U.S. Tax Act transitional tax payable 592 1,154 Derivative liabilities 325 445 Other 555 530 TOTAL $ 6,398 $ 7,152
Schedule of Restructuring Reserve by Type of Cost	The following table presents restructuring activity for the fiscal years ended June 30, 2024 and 2023: Separation Costs Asset-Related Costs Other Costs Total RESERVE JUNE 30, 2022 $ 121 $ — $ 26 $ 147 Cost incurred 175 43 111 329 Cost paid/settled (141) (43) (118) (302) RESERVE JUNE 30, 2023 155 — 19 174 Cost incurred 202 101 355 659 Cost paid/settled (224) (101) (342) (667) RESERVE JUNE 30, 2024 $ 133 $ — $ 32 $ 166
Restructuring and Related Costs	However, for information purposes, the following table summarizes the total restructuring costs related to our reportable segments: Fiscal years ended June 30 2024 2023 2022 Beauty $ 43 $ 15 $ 11 Grooming 76 17 14 Health Care 33 28 32 Fabric & Home Care 84 87 42 Baby, Feminine & Family Care 50 21 83 Corporate (1) 371 161 71 TOTAL $ 659 $ 329 $ 253 (1)

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	12 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The change in the net carrying amount of goodwill by reportable segment was as follows: Beauty Grooming Health Care Fabric & Home Care Baby, Feminine & Family Care TOTAL BALANCE AT JUNE 30, 2022 - NET (1) $ 13,296 $ 12,571 $ 7,589 $ 1,808 $ 4,436 $ 39,700 Acquisitions and divestitures 405 — — — 33 438 Translation and other 187 132 129 13 60 521 BALANCE AT JUNE 30, 2023 - NET (1) 13,888 12,703 7,718 1,821 4,529 40,659 Acquisitions and divestitures (61) — — — — (61) Translation and other (104) (71) (80) (10) (30) (295) BALANCE AT JUNE 30, 2024 - NET (1) $ 13,723 $ 12,633 $ 7,638 $ 1,810 $ 4,499 $ 40,303 (1) Grooming goodwill balance is net of $7.9 billion accumulated impairment losses.
Schedule of Finite-Lived Intangible Assets	Identifiable intangible assets were comprised of: 2024 2023 As of June 30 Gross Carrying Amount Accumulated Gross Carrying Amount Accumulated INTANGIBLE ASSETS WITH DETERMINABLE LIVES Brands $ 4,318 $ (2,725) $ 4,352 $ (2,540) Patents and technology 2,794 (2,683) 2,775 (2,649) Customer relationships 1,834 (1,121) 1,847 (1,039) Other 72 (29) 73 (28) TOTAL $ 9,019 $ (6,558) $ 9,047 $ (6,256) INTANGIBLE ASSETS WITH INDEFINITE LIVES Brands 19,587 — 20,992 — TOTAL INTANGIBLE ASSETS $ 28,605 $ (6,558) $ 30,039 $ (6,256)
Schedule of Indefinite-Lived Intangible Assets	Identifiable intangible assets were comprised of: 2024 2023 As of June 30 Gross Carrying Amount Accumulated Gross Carrying Amount Accumulated INTANGIBLE ASSETS WITH DETERMINABLE LIVES Brands $ 4,318 $ (2,725) $ 4,352 $ (2,540) Patents and technology 2,794 (2,683) 2,775 (2,649) Customer relationships 1,834 (1,121) 1,847 (1,039) Other 72 (29) 73 (28) TOTAL $ 9,019 $ (6,558) $ 9,047 $ (6,256) INTANGIBLE ASSETS WITH INDEFINITE LIVES Brands 19,587 — 20,992 — TOTAL INTANGIBLE ASSETS $ 28,605 $ (6,558) $ 30,039 $ (6,256)
Schedule of Amortization Expense	Amortization expense of intangible assets was as follows: Fiscal years ended June 30 2024 2023 2022 Intangible asset amortization $ 338 $ 327 $ 312
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	Estimated amortization expense over the next five fiscal years is as follows: Fiscal years ending June 30 2025 2026 2027 2028 2029 Estimated amortization expense $ 318 $ 297 $ 287 $ 248 $ 200

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Schedule of Income before Income Tax, Domestic and Foreign	Earnings before income taxes consisted of the following: Fiscal years ended June 30 2024 2023 2022 United States $ 12,246 $ 12,107 $ 11,698 International 6,515 6,246 6,297 TOTAL $ 18,761 $ 18,353 $ 17,995
Schedule of Components of Income Tax Expense (Benefit)	Income taxes consisted of the following: Fiscal years ended June 30 2024 2023 2022 CURRENT TAX EXPENSE U.S. federal $ 1,954 $ 2,303 $ 1,916 International 1,708 1,412 1,333 U.S. state and local 368 353 355 TOTAL 4,031 4,068 3,604 DEFERRED TAX EXPENSE/(BENEFIT) U.S. federal (133) (224) (320) International and other (111) (229) (82) TOTAL (244) (453) (402) TOTAL TAX EXPENSE $ 3,787 $ 3,615 $ 3,202
Schedule of Effective Income Tax Rate Reconciliation	A reconciliation of the U.S. federal statutory income tax rate to our actual effective income tax rate is provided below: Fiscal years ended June 30 2024 2023 2022 U.S. federal statutory income tax rate 21.0 % 21.0 % 21.0 % Country mix impacts of foreign operations 0.1 % (0.5) % (0.3) % State income taxes, net of federal benefit 1.8 % 1.6 % 1.5 % Excess tax benefits from the exercise of stock options (1.5) % (1.0) % (2.0) % Foreign derived intangible income deduction (FDII) (1.1) % (0.8) % (1.1) % Changes in uncertain tax positions 0.1 % 0.1 % (0.4) % Other (0.2) % (0.7) % (0.9) % EFFECTIVE INCOME TAX RATE 20.2 % 19.7 % 17.8 %
Summary of Income Tax Contingencies	A reconciliation of the beginning and ending liability for uncertain tax positions is as follows: Fiscal years ended June 30 2024 2023 2022 BEGINNING OF YEAR $ 515 $ 583 $ 627 Increases in tax positions for prior years 157 113 102 Decreases in tax positions for prior years (133) (119) (118) Increases in tax positions for current year 160 60 53 Settlements with taxing authorities (100) (108) (42) Lapse in statute of limitations (9) (7) (17) Currency translation (8) (7) (22) END OF YEAR $ 582 $ 515 $ 583
Schedule of Deferred Tax Assets and Liabilities	Deferred income tax assets and liabilities were comprised of the following: As of June 30 2024 2023 DEFERRED TAX ASSETS Capitalized research & development $ 1,140 $ 930 Loss and other carryforwards 892 1,014 Pension and other retiree benefits 592 737 Accrued marketing and promotion 460 421 Stock-based compensation 433 412 Fixed assets 206 223 Lease liabilities 199 197 Unrealized loss on financial and foreign exchange transactions 107 282 Other 843 874 Valuation allowances (290) (403) TOTAL $ 4,582 $ 4,687 DEFERRED TAX LIABILITIES Goodwill and other intangible assets $ 5,459 $ 5,811 Fixed assets 1,573 1,556 Other retiree benefits 1,319 1,101 Unrealized gain on financial and foreign exchange transactions 263 198 Lease right-of-use assets 196 191 Foreign withholding tax on earnings to be repatriated 104 96 Other 441 381 TOTAL $ 9,355 $ 9,334

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Net earnings per common share were calculated as follows: Fiscal years ended June 30 2024 2023 2022 CONSOLIDATED AMOUNTS Net earnings $ 14,974 $ 14,738 $ 14,793 Less: Net earnings attributable to noncontrolling interests 95 85 51 Net earnings attributable to P&G 14,879 14,653 14,742 Less: Preferred dividends 284 282 281 Net earnings attributable to P&G available to common shareholders (Basic) $ 14,595 $ 14,371 $ 14,461 Net earnings attributable to P&G available to common shareholders (Diluted) $ 14,879 $ 14,653 $ 14,742 SHARES IN MILLIONS Basic weighted average common shares outstanding 2,360.1 2,368.2 2,410.3 Add effect of dilutive securities: Stock options and other unvested equity awards (1) 38.3 39.4 49.5 Convertible preferred shares (2) 73.6 76.3 79.3 Diluted weighted average common shares outstanding 2,471.9 2,483.9 2,539.1 NET EARNINGS PER COMMON SHARE Basic $ 6.18 $ 6.07 $ 6.00 Diluted $ 6.02 $ 5.90 $ 5.81 (1) Excludes 4 million, 19 million and 11 million in 2024, 2023 and 2022, respectively, of weighted average stock options outstanding because the exercise price of these options was greater than the average market value of the Company's stock or their effect was antidilutive. (2) An overview of preferred shares can be found in Note 8.

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	12 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Share-based Payment Arrangement, Activity	Total expense and related recognized tax benefit were as follows: Fiscal years ended June 30 2024 2023 2022 Stock options $ 270 $ 303 $ 271 RSUs and PSUs 292 242 257 Total share-based expense $ 562 $ 545 $ 528 Income tax benefit $ 103 $ 103 $ 88
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions	Assumptions utilized in the model, which are evaluated and revised to reflect market conditions and experience, were as follows: Fiscal years ended June 30 2024 2023 2022 Interest rate 4.6 - 5.5 % 3.7 - 4.1 % 0.1 - 1.6 % Weighted average interest rate 4.6 % 3.7 % 1.5 % Dividend yield 2.5 % 2.6 % 2.4 % Expected volatility 18 % 21 % 19 % Expected life in years 8.8 8.8 9.1 The following table provides additional information on stock options: Fiscal years ended June 30 2024 2023 2022 Weighted average grant-date fair value of options granted $ 34.25 $ 29.58 $ 21.55 Intrinsic value of options exercised 1,621 979 1,886 Grant-date fair value of options that vested 244 219 177 Cash received from options exercised 1,888 1,189 1,930 Actual tax benefit from options exercised 330 207 399
Share-based Payment Arrangement, Option, Activity	A summary of options outstanding under the plans as of June 30, 2024, and activity during the year then ended is presented below: Options Options Weighted Average Exercise Price Weighted Average Contractual Life in Years Aggregate Intrinsic Value OUTSTANDING AT JULY 1, 2023 121,205 $ 104.18 Granted 8,737 147.76 Exercised (22,190) 85.08 Forfeited/expired (391) 134.69 OUTSTANDING AT JUNE 30, 2024 107,362 $ 111.59 5.1 $ 5,732 Exercisable 75,692 $ 99.51 3.9 $ 4,951
Schedule of Nonvested Share Activity	A summary of non-vested RSUs and PSUs outstanding under the plans as of June 30, 2024, and activity during the year then ended is presented below: RSUs PSUs RSU and PSU awards Units (in thousands) Weighted Average Grant Date Fair Value Units (in thousands) Weighted Average Grant Date Fair Value Non-vested at July 1, 2023 3,172 $ 134.94 1,011 $ 142.40 Granted 1,519 147.15 524 155.86 Vested (1,299) 136.73 (506) 152.73 Forfeited (71) 143.02 (13) 155.36 Non-vested at June 30, 2024 3,321 $ 139.65 1,016 $ 144.06

POSTRETIREMENT BENEFITS AND E_2

POSTRETIREMENT BENEFITS AND EMPLOYEE STOCK OWNERSHIP PLAN (Tables)	12 Months Ended
	Jun. 30, 2024
Retirement Benefits [Abstract]
Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan	The following provides a reconciliation of benefit obligations, plan assets and funded status of these defined benefit plans: Pension Benefits (1) Other Retiree Benefits (2) Fiscal years ended June 30 2024 2023 2024 2023 CHANGE IN BENEFIT OBLIGATION Benefit obligation at beginning of year (3) $ 12,499 $ 12,608 $ 2,933 $ 3,070 Service cost 164 173 68 71 Interest cost 527 430 157 142 Participants' contributions 14 13 56 50 Amendments 21 8 2 — Net actuarial loss/(gain) (11) (550) (268) (208) Special termination benefits 4 5 3 4 Currency translation and other (155) 363 (22) 31 Benefit payments (707) (551) (242) (227) BENEFIT OBLIGATION AT END OF YEAR (3) $ 12,355 $ 12,499 $ 2,687 $ 2,933 CHANGE IN PLAN ASSETS Fair value of plan assets at beginning of year $ 10,374 $ 10,173 $ 7,324 $ 6,889 Actual return on plan assets 1,058 37 784 482 Employer contributions 239 392 44 42 Participants' contributions 14 13 56 50 Currency translation and other (119) 310 — 1 ESOP debt impacts (4) — — 77 87 Benefit payments (707) (551) (242) (227) FAIR VALUE OF PLAN ASSETS AT END OF YEAR $ 10,857 $ 10,374 $ 8,043 $ 7,324 FUNDED STATUS $ (1,498) $ (2,125) $ 5,356 $ 4,391 (1) Primarily non-U.S.-based defined benefit retirement plans. (2) Primarily U.S.-based other postretirement benefit plans. (3) For the pension benefit plans, the benefit obligation is the projected benefit obligation. For other retiree benefit plans, the benefit obligation is the accumulated postretirement benefit obligation. (4)
Schedule of Amounts Recognized in Balance Sheet	In these instances, benefit payments are typically paid directly from the Company's cash as they become due. Pension Benefits Other Retiree Benefits As of June 30 2024 2023 2024 2023 CLASSIFICATION OF NET AMOUNT RECOGNIZED Noncurrent assets $ 1,458 $ 1,085 $ 6,047 $ 5,119 Current liabilities (73) (94) (38) (38) Noncurrent liabilities (2,884) (3,116) (653) (690) NET AMOUNT RECOGNIZED $ (1,498) $ (2,125) $ 5,356 $ 4,391 AMOUNTS RECOGNIZED IN ACCUMULATED OTHER COMPREHENSIVE (INCOME)/LOSS (AOCI) Net actuarial loss/(gain) $ 1,258 $ 1,818 $ (1,493) $ (1,160) Prior service cost/(credit) 140 156 (655) (787) NET AMOUNTS RECOGNIZED IN AOCI $ 1,398 $ 1,974 $ (2,148) $ (1,947)
Schedule of Accumulated and Projected Benefit Obligations	Information related to the funded status of selected pension and other retiree benefits at June 30 is as follows: As of June 30 2024 2023 PENSION PLANS WITH A PROJECTED BENEFIT OBLIGATION IN EXCESS OF PLAN ASSETS Projected benefit obligation $ 7,613 $ 7,967 Fair value of plan assets 4,656 4,758 PENSION PLANS WITH AN ACCUMULATED BENEFIT OBLIGATION IN EXCESS OF PLAN ASSETS Accumulated benefit obligation $ 7,103 $ 7,442 Fair value of plan assets 4,624 4,677 OTHER RETIREE BENEFIT PLANS WITH AN ACCUMULATED BENEFIT OBLIGATION IN EXCESS OF PLAN ASSETS Accumulated benefit obligation $ 770 $ 818 Fair value of plan assets 79 89
Schedule of Net Benefit Costs	Components of the net periodic benefit cost were as follows: Pension Benefits Other Retiree Benefits Fiscal years ended June 30 2024 2023 2022 2024 2023 2022 AMOUNTS RECOGNIZED IN NET PERIODIC BENEFIT COST/(CREDIT) Service cost $ 164 $ 173 $ 253 $ 68 $ 71 $ 86 Interest cost 527 430 253 157 142 99 Expected return on plan assets (610) (591) (684) (687) (611) (564) Amortization of net actuarial loss/(gain) 95 133 337 (38) (7) 11 Amortization of prior service cost/(credit) 37 26 28 (127) (125) (107) Amortization of net actuarial loss/(gain) due to settlements (13) — (5) — — — Special termination benefits 4 5 4 3 4 1 NET PERIODIC BENEFIT COST/(CREDIT) $ 203 $ 176 $ 186 $ (623) $ (526) $ (474) CHANGE IN PLAN ASSETS AND BENEFIT OBLIGATIONS RECOGNIZED IN AOCI Net actuarial loss/(gain) - current year $ (458) $ 4 $ (366) $ (79) Prior service cost/(credit) - current year 21 8 2 — Amortization of net actuarial (loss)/gain (95) (133) 38 7 Amortization of prior service (cost)/credit (37) (26) 127 125 Amortization of net actuarial (loss)/gain due to settlements 13 — — — Currency translation and other (21) 45 (2) — TOTAL CHANGE IN AOCI (576) (102) (201) 53 NET AMOUNTS RECOGNIZED IN PERIODIC BENEFIT COST/(CREDIT) AND AOCI $ (373) $ 74 $ (824) $ (473)
Defined Benefit Plan, Assumptions	The weighted average assumptions used to determine benefit obligations recorded on the Consolidated Balance Sheets as of June 30, 2024 and 2023, were as follows: (1) Pension Benefits Other Retiree Benefits As of June 30 2024 2023 2024 2023 Discount rate 4.2 % 4.2 % 5.8 % 5.6 % Rate of compensation increase 2.8 % 2.9 % N/A N/A Interest crediting rate for cash balance plans 4.7 % 4.3 % N/A N/A Health care cost trend rates assumed for next year N/A N/A 6.3 % 6.1 % Rate to which the health care cost trend rate is assumed to decline (ultimate trend rate) N/A N/A 4.9 % 4.5 % Year that the rate reaches the ultimate trend rate N/A N/A 2029 2028 (1) Determined as of end of fiscal year. The weighted average assumptions used to determine net benefit cost recorded on the Consolidated Statements of Earnings for the fiscal years ended June 30 were as follows: (1) Pension Benefits Other Retiree Benefits Fiscal years ended June 30 2024 2023 2022 2024 2023 2022 Discount rate 4.2 % 3.7 % 1.7 % 5.6 % 5.0 % 3.2 % Expected return on plan assets 6.0 % 5.9 % 5.5 % 8.5 % 8.4 % 8.4 % Rate of compensation increase 2.9 % 2.8 % 2.7 % N/A N/A N/A Interest crediting rate for cash balance plans 4.3 % 4.3 % 4.4 % N/A N/A N/A (1) Determined as of beginning of fiscal year.
Schedule of Allocation of Plan Assets	Our target asset allocation for the fiscal year ended June 30, 2024, and actual asset allocation by asset category as of June 30, 2024 and 2023, were as follows: Target Asset Allocation Actual Asset Allocation at June 30 Pension Benefits Other Retiree Pension Benefits Other Retiree Benefits Asset Category 2024 2023 2024 2023 Cash 1 % 2 % 2 % 1 % 2 % 2 % Debt securities 61 % 1 % 61 % 60 % 1 % 1 % Equity securities 38 % 97 % 37 % 39 % 97 % 97 % TOTAL 100 % 100 % 100 % 100 % 100 % 100 %
Pension and Postretirement Plan Assets By Fair Value Hierarchy	Investments valued using net asset value as a practical expedient are not valued using the fair value hierarchy, but rather valued using the net asset value reported by the managers of the funds and as supported by the unit prices of actual purchase and sale transactions. Pension Benefits Other Retiree Benefits As of June 30 Fair Value Hierarchy Level 2024 2023 Fair Value Hierarchy Level 2024 2023 ASSETS AT FAIR VALUE Cash and cash equivalents 1 $ 267 $ 54 1 $ 135 $ 148 Company common stock — — 1 451 368 Company preferred stock (1) — — 2 7,380 6,721 Fixed income securities (2) 2 1,076 1,190 — — Insurance contracts (3) 3 165 93 — — TOTAL ASSETS IN THE FAIR VALUE HIERARCHY 1,508 1,337 7,966 7,237 Investments valued at net asset value (4) 9,349 9,037 77 87 TOTAL ASSETS AT FAIR VALUE $ 10,857 $ 10,374 $ 8,043 $ 7,324 (1) Company preferred stock is valued based on the value of Company common stock and is presented net of ESOP debt discussed below. (2) Fixed income securities are estimated by using pricing models or quoted prices of securities with similar characteristics. (3) Fair values of insurance contracts are valued based on either their cash equivalent value or models that project future cash flows and discount the future amounts to a present value using market-based observable inputs, including credit risk and interest rate curves. The activity for Level 3 assets is not significant for all years presented. (4)
Schedule of Expected Benefit Payments	Total benefit payments expected to be paid to participants, which include payments funded from the Company's assets and payments from the plans are as follows: Fiscal years ending June 30 Pension Benefits Other Retiree Benefits EXPECTED BENEFIT PAYMENTS 2025 $ 635 $ 166 2026 595 179 2027 615 176 2028 666 181 2029 684 187 2030 - 2034 3,747 1,032
Employee Stock Ownership Plan (ESOP) Disclosures	The number of preferred shares outstanding at June 30 was as follows: Shares in thousands 2024 2023 2022 Allocated 22,724 24,449 25,901 Unallocated — 535 1,123 TOTAL SERIES A 22,724 24,984 27,024 Allocated 33,723 32,172 30,719 Unallocated 15,864 17,867 20,120 TOTAL SERIES B 49,587 50,039 50,839

RISK MANAGEMENT ACTIVITIES AN_2

RISK MANAGEMENT ACTIVITIES AND FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	The notional amounts and fair values of financial instruments used in hedging transactions as of June 30, 2024 and 2023, are as follows: Notional Amount Fair Value Asset Fair Value (Liability) As of June 30 2024 2023 2024 2023 2024 2023 DERIVATIVES IN FAIR VALUE HEDGING RELATIONSHIPS Interest rate contracts $ 2,993 $ 4,044 $ — $ — $ (325) $ (445) DERIVATIVES IN NET INVESTMENT HEDGING RELATIONSHIPS Foreign currency interest rate contracts $ 10,140 $ 11,005 $ 119 $ 26 $ (31) $ (631) TOTAL DERIVATIVES DESIGNATED AS HEDGING INSTRUMENTS $ 13,133 $ 15,049 $ 119 $ 26 $ (356) $ (1,076) DERIVATIVES NOT DESIGNATED AS HEDGING INSTRUMENTS Foreign currency contracts $ 3,192 $ 3,489 $ 1 $ 7 $ (23) $ (42) TOTAL DERIVATIVES AT FAIR VALUE $ 16,325 $ 18,538 $ 120 $ 33 $ (379) $ (1,118)
Schedule of Net Investment Hedges in Accumulated Other Comprehensive Income (Loss)	Before tax gains/(losses) on our financial instruments in hedging relationships are categorized as follows: Amount of Gain/(Loss) Recognized in OCI on Derivatives Fiscal years ended June 30 2024 2023 DERIVATIVES IN NET INVESTMENT HEDGING RELATIONSHIPS (1) (2) Foreign currency interest rate contracts $ 163 $ (544) (1) For the derivatives in net investment hedging relationships, the amount of gain excluded from effectiveness testing, which was recognized in earnings, was $229 and $238 for the fiscal years ended June 30, 2024 and 2023, respectively. (2) In addition to the foreign currency derivative contracts designated as net investment hedges, certain of our foreign currency denominated debt instruments are designated as net investment hedges. The amount of gain/(loss) recognized in AOCI for such instruments was $255 and $(315), for the fiscal years ended June 30, 2024 and 2023, respectively.
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	Amount of Gain/(Loss) Recognized in Earnings Fiscal years ended June 30 2024 2023 DERIVATIVES IN FAIR VALUE HEDGING RELATIONSHIPS Interest rate contracts $ 120 $ (141) DERIVATIVES NOT DESIGNATED AS HEDGING INSTRUMENTS Foreign currency contracts $ (91) $ (97)

SHORT-TERM AND LONG-TERM DEBT (

SHORT-TERM AND LONG-TERM DEBT (Tables)	12 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Short-term Debt	As of June 30 2024 2023 DEBT DUE WITHIN ONE YEAR Current portion of long-term debt $ 3,838 $ 3,951 Commercial paper 3,327 6,236 Other 26 42 TOTAL $ 7,191 $ 10,229 Weighted average interest rate of debt due within one year (1) 3.7 % 4.2 % (1) Weighted average interest rate of debt due within one year includes the effects of interest rate swaps discussed in Note 9.
Schedule of Long-term Debt Instruments	As of June 30 2024 2023 LONG-TERM DEBT 3.10% USD note due August 2023 $ — $ 1,000 1.13% EUR note due November 2023 — 1,359 0.50% EUR note due October 2024 534 544 0.63% EUR note due October 2024 855 870 0.55% USD note due October 2025 1,000 1,000 4.10% USD note due January 2026 650 650 2.70% USD note due February 2026 600 600 1.00% USD note due April 2026 1,000 1,000 3.25% EUR note due August 2026 695 707 2.45% USD note due November 2026 875 875 1.90% USD note due February 2027 1,000 1,000 2.80% USD note due March 2027 500 500 4.88% EUR note due May 2027 1,069 1,087 2.85% USD note due August 2027 750 750 3.95% USD note due January 2028 600 600 3.15% EUR note due April 2028 695 — 1.20% EUR note due October 2028 855 870 4.35% USD note due January 2029 600 — 1.25% EUR note due October 2029 534 544 3.00% USD note due March 2030 1,500 1,500 0.35% EUR note due May 2030 534 544 1.20% USD note due October 2030 1,250 1,250 1.95% USD note due April 2031 1,000 1,000 3.25% EUR note due August 2031 695 707 2.30% USD note due February 2032 850 850 4.05% USD note due January 2033 850 850 4.55% USD note due January 2034 750 — 3.20% EUR note due April 2034 909 — 5.55% USD note due March 2037 716 716 1.88% EUR note due October 2038 534 544 3.55% USD note due March 2040 516 516 0.90% EUR note due November 2041 641 652 All other long-term debt 5,550 5,244 Current portion of long-term debt (3,838) (3,951) TOTAL $ 25,269 $ 24,378 Weighted average interest rate of long-term debt (1) 3.2% 2.9% (1) Weighted average interest rate of long-term debt includes the effects of interest rate swaps discussed in Note 9.
Maturities of Long-term Debt	Long-term debt maturities during the next five fiscal years are as follows: Fiscal years ending June 30 2025 2026 2027 2028 2029 Debt maturities $3,838 $3,367 $4,350 $2,074 $1,867

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) (Tables)	12 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The table below presents the changes in Accumulated other comprehensive income/(loss) attributable to Procter & Gamble (AOCI), including the reclassifications out of AOCI by component: Changes in Accumulated Other Comprehensive Income/(Loss) by Component Investment Securities Post-retirement Benefit Plans Foreign Currency Translation Total AOCI BALANCE AT JUNE 30, 2022, NET OF TAX $ 20 $ 27 $ (12,236) $ (12,189) Other comprehensive income/(loss), before tax: OCI before reclassifications (9) 22 (268) (255) Amounts reclassified to the Consolidated Statement of Earnings — 27 — 27 Total other comprehensive income/(loss), before tax (9) 49 (268) (228) Tax effect 2 (9) 197 190 Total other comprehensive income/(loss), net of tax (7) 40 (71) (38) Less: OCI attributable to non-controlling interests, net of tax — — (7) (7) BALANCE AT JUNE 30, 2023, NET OF TAX 13 67 (12,300) (12,220) Other comprehensive income/(loss), before tax: OCI before reclassifications (4) 823 (376) 443 Amounts reclassified to the Consolidated Statement of Earnings — (47) 216 169 Total other comprehensive income/(loss), before tax (4) 776 (160) 612 Tax effect 1 (230) (66) (295) Total other comprehensive income/(loss), net of tax (3) 546 (226) 317 Less: OCI attributable to non-controlling interests, net of tax — — (3) (3) BALANCE AT JUNE 30, 2024, NET OF TAX $ 10 $ 613 $ (12,522) $ (11,900)

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Lease, Cost	The components of the Company’s total operating lease cost for the fiscal years ended June 30, 2024, 2023 and 2022, were as follows: Fiscal years ended June 30 2024 2023 2022 Operating lease cost $ 252 $ 229 $ 220 Variable lease cost (1) 91 79 89 Total lease cost $ 343 $ 308 $ 309 (1) Includes primarily costs for utilities, common area maintenance, property taxes and other operating costs associated with operating leases that are not included in the lease liability and are recognized in the period in which they are incurred.
Asset and Liabilities, Lessee	Supplemental balance sheet and other information related to leases is as follows: As of June 30 2024 2023 Operating leases: Right-of-use assets (Other noncurrent assets) $ 875 $ 781 Current lease liabilities (Accrued and other liabilities) 243 222 Noncurrent lease liabilities (Other noncurrent liabilities) 666 595 Total operating lease liabilities $ 909 $ 817 Weighted average remaining lease term: Operating leases 6.0 years 6.2 years Weighted average discount rate: Operating leases 4.5 % 3.5 %
Lessee, Operating Lease, Liability, Maturity	At June 30, 2024, future payments of operating lease liabilities were as follows: Operating Leases June 30, 2024 1 year $ 244 2 years 206 3 years 164 4 years 122 5 years 105 Over 5 years 190 Total lease payments 1,031 Less: Interest (122) Present value of lease liabilities $ 909

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Unrecorded Unconditional Purchase Obligations Disclosure	Commitments made under take-or-pay obligations are as follows: Fiscal years ending June 30 2025 2026 2027 2028 2029 Thereafter Purchase obligations $ 1,092 $ 596 $ 314 $ 214 $ 162 $ 232

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details) $ in Billions	12 Months Ended
	Jun. 30, 2024 USD ($) country	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)
Accounting Policies [Line Items]
Number of countries in which entity operates | country	180
Number of countries with on-the-ground operations | country	70
Research and development costs | $	$ 2	$ 2	$ 2
Advertising costs | $	$ 9.6	$ 8	$ 7.9
Minimum | Customer Relationships, Brands, and Other Non-Contractual Intangible Assets [Member]
Accounting Policies [Line Items]
Finite-lived intangible assets, useful life (in years)	5 years
Maximum | Customer Relationships, Brands, and Other Non-Contractual Intangible Assets [Member]
Accounting Policies [Line Items]
Finite-lived intangible assets, useful life (in years)	30 years
Furniture and Fixtures
Accounting Policies [Line Items]
Property, plant, and equipment, useful life (in years)	15 years
Computer Equipment | Minimum
Accounting Policies [Line Items]
Property, plant, and equipment, useful life (in years)	3 years
Computer Equipment | Maximum
Accounting Policies [Line Items]
Property, plant, and equipment, useful life (in years)	5 years
Machinery and equipment | Minimum
Accounting Policies [Line Items]
Property, plant, and equipment, useful life (in years)	3 years
Machinery and equipment | Maximum
Accounting Policies [Line Items]
Property, plant, and equipment, useful life (in years)	20 years
Buildings
Accounting Policies [Line Items]
Property, plant, and equipment, useful life (in years)	40 years

SEGMENT INFORMATION - Additiona

SEGMENT INFORMATION - Additional Information (Details) - segment	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Number of reportable segments	5
Walmart Inc. And Affiliates | Revenue Benchmark | Customer Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk (in percent)	16%	15%	15%

SEGMENT INFORMATION - Percent O

SEGMENT INFORMATION - Percent Of Sales By Business Unit (Details) - Revenue Benchmark - Product Concentration Risk	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Concentration risk (in percent)	100%	100%	100%
FABRIC & HOME CARE | Fabric Care
Segment Reporting Information [Line Items]
Concentration risk (in percent)	24%	23%	23%
FABRIC & HOME CARE | Home Care
Segment Reporting Information [Line Items]
Concentration risk (in percent)	12%	12%	12%
BABY, FEMININE & FAMILY CARE | Baby Care
Segment Reporting Information [Line Items]
Concentration risk (in percent)	9%	10%	10%
BABY, FEMININE & FAMILY CARE | Family Care
Segment Reporting Information [Line Items]
Concentration risk (in percent)	9%	8%	9%
BABY, FEMININE & FAMILY CARE | Skin and Personal Care
Segment Reporting Information [Line Items]
Concentration risk (in percent)	9%	9%	9%
BABY, FEMININE & FAMILY CARE | Feminine Care
Segment Reporting Information [Line Items]
Concentration risk (in percent)	6%	7%	6%
BEAUTY | Hair Care
Segment Reporting Information [Line Items]
Concentration risk (in percent)	9%	9%	9%
GROOMING | Grooming
Segment Reporting Information [Line Items]
Concentration risk (in percent)	8%	8%	6%
GROOMING | Other
Segment Reporting Information [Line Items]
Concentration risk (in percent)	0%	0%	2%
HEALTH CARE | Oral Care
Segment Reporting Information [Line Items]
Concentration risk (in percent)	8%	8%	8%
HEALTH CARE | Personal Health Care
Segment Reporting Information [Line Items]
Concentration risk (in percent)	6%	6%	6%

SEGMENT INFORMATION - US And In

SEGMENT INFORMATION - US And International Sales And Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
NET SALES	$ 84,039	$ 82,006	$ 80,187
PROPERTY, PLANT AND EQUIPMENT, NET	22,152	21,909
United States
Segment Reporting Information [Line Items]
NET SALES	40,500	38,700	36,500
PROPERTY, PLANT AND EQUIPMENT, NET	12,000	11,400	10,700
International
Segment Reporting Information [Line Items]
NET SALES	43,500	43,300	43,700
PROPERTY, PLANT AND EQUIPMENT, NET	$ 10,200	$ 10,500	$ 10,500

SEGMENT INFORMATION - Global Se

SEGMENT INFORMATION - Global Segment Results (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Net Sales	$ 84,039	$ 82,006	$ 80,187
Earnings/(Loss) Before Income Taxes	18,761	18,353	17,995
Net Earnings/(Loss)	14,974	14,738	14,793
Depreciation and Amortization	2,896	2,714	2,807
Total Assets	122,370	120,829	117,208
Capital Expenditures	3,322	3,062	3,156
BEAUTY
Segment Reporting Information [Line Items]
Net Sales	15,220	15,008	14,740
Earnings/(Loss) Before Income Taxes	3,805	4,009	3,946
Net Earnings/(Loss)	2,963	3,178	3,160
Depreciation and Amortization	399	376	348
Total Assets	6,103	6,196	6,055
Capital Expenditures	280	287	331
GROOMING
Segment Reporting Information [Line Items]
Net Sales	6,654	6,419	6,587
Earnings/(Loss) Before Income Taxes	1,845	1,806	1,835
Net Earnings/(Loss)	1,477	1,461	1,490
Depreciation and Amortization	335	335	361
Total Assets	19,082	20,601	20,482
Capital Expenditures	337	300	260
HEALTH CARE
Segment Reporting Information [Line Items]
Net Sales	11,793	11,226	10,824
Earnings/(Loss) Before Income Taxes	2,941	2,759	2,618
Net Earnings/(Loss)	2,258	2,125	2,006
Depreciation and Amortization	381	352	376
Total Assets	8,416	8,480	7,888
Capital Expenditures	524	466	410
FABRIC & HOME CARE
Segment Reporting Information [Line Items]
Net Sales	29,495	28,371	27,556
Earnings/(Loss) Before Income Taxes	7,339	6,303	5,729
Net Earnings/(Loss)	5,687	4,828	4,386
Depreciation and Amortization	710	675	672
Total Assets	8,907	8,669	8,567
Capital Expenditures	1,076	979	988
BABY, FEMININE & FAMILY CARE
Segment Reporting Information [Line Items]
Net Sales	20,277	20,217	19,736
Earnings/(Loss) Before Income Taxes	5,253	4,623	4,267
Net Earnings/(Loss)	4,020	3,545	3,266
Depreciation and Amortization	824	804	826
Total Assets	8,497	8,517	8,443
Capital Expenditures	979	994	932
CORPORATE
Segment Reporting Information [Line Items]
Net Sales	601	765	744
Earnings/(Loss) Before Income Taxes	(2,422)	(1,147)	(400)
Net Earnings/(Loss)	(1,430)	(399)	485
Depreciation and Amortization	247	172	224
Total Assets	71,365	68,366	65,773
Capital Expenditures	$ 126	$ 36	$ 235

SUPPLEMENTAL FINANCIAL INFORM_3

SUPPLEMENTAL FINANCIAL INFORMATION - Property, Plant And Equipment (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Property, Plant and Equipment [Line Items]
TOTAL PROPERTY, PLANT AND EQUIPMENT	$ 50,063	$ 48,645
Accumulated depreciation	(27,911)	(26,736)
PROPERTY, PLANT AND EQUIPMENT, NET	22,152	21,909
Machinery and equipment
Property, Plant and Equipment [Line Items]
TOTAL PROPERTY, PLANT AND EQUIPMENT	37,507	36,521
Buildings
Property, Plant and Equipment [Line Items]
TOTAL PROPERTY, PLANT AND EQUIPMENT	8,534	8,277
Construction in progress
Property, Plant and Equipment [Line Items]
TOTAL PROPERTY, PLANT AND EQUIPMENT	3,126	2,980
Land
Property, Plant and Equipment [Line Items]
TOTAL PROPERTY, PLANT AND EQUIPMENT	$ 895	$ 867

SUPPLEMENTAL FINANCIAL INFORM_4

SUPPLEMENTAL FINANCIAL INFORMATION - Accrued And Other Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
ACCRUED AND OTHER LIABILITIES - CURRENT
Accrued marketing and promotion	$ 4,172	$ 3,894
Accrued compensation	2,161	2,030
Taxes payable	1,042	828
Accrued interest	282	235
Lease liabilities	$ 243	$ 222
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	TOTAL	TOTAL
Restructuring reserves	$ 166	$ 174
Derivative liabilities	54	631
Other	2,953	2,915
TOTAL	11,073	10,929
OTHER NONCURRENT LIABILITIES
Pension benefit obligations	2,884	3,116
Uncertain tax positions	723	622
Lease liabilities	$ 666	$ 595
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	TOTAL	TOTAL
Other retiree benefit obligations	$ 653	$ 690
U.S. Tax Act transitional tax payable	592	1,154
Derivative liabilities	325	445
Other	555	530
TOTAL	$ 6,398	$ 7,152

SUPPLEMENTAL FINANCIAL INFORM_5

SUPPLEMENTAL FINANCIAL INFORMATION - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 659	$ 329	$ 253
Foreign currency translation gain (loss)	(216)
Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 155	$ 160
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]	Selling, general and administrative expense	Selling, general and administrative expense
Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 248	$ 160
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]	Cost of products sold	Cost of products sold
Other Nonoperating Income (Expense)
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 255	$ 9
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other non-operating income, net	Other non-operating income, net
Minimum
Restructuring Cost and Reserve [Line Items]
Historical restructuring costs, before tax	$ 250
Expected restructuring charges				$ 1,000
Maximum
Restructuring Cost and Reserve [Line Items]
Historical restructuring costs, before tax	$ 500
Expected restructuring charges				$ 1,500

SUPPLEMENTAL FINANCIAL INFORM_6

SUPPLEMENTAL FINANCIAL INFORMATION - Restructuring Activity (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Restructuring Reserve [Roll Forward]
Beginning balance	$ 174	$ 147
Cost incurred	659	329	$ 253
Cost paid/settled	(667)	(302)
Ending balance	166	174	147
Separation Costs
Restructuring Reserve [Roll Forward]
Beginning balance	155	121
Cost incurred	202	175
Cost paid/settled	(224)	(141)
Ending balance	133	155	121
Asset-Related Costs
Restructuring Reserve [Roll Forward]
Beginning balance	0	0
Cost incurred	101	43
Cost paid/settled	(101)	(43)
Ending balance	0	0	0
Other Costs
Restructuring Reserve [Roll Forward]
Beginning balance	19	26
Cost incurred	355	111
Cost paid/settled	(342)	(118)
Ending balance	$ 32	$ 19	$ 26

SUPPLEMENTAL FINANCIAL INFORM_7

SUPPLEMENTAL FINANCIAL INFORMATION - Other Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Restructuring Cost and Reserve [Line Items]
Cost incurred	$ 659	$ 329	$ 253
BEAUTY
Restructuring Cost and Reserve [Line Items]
Cost incurred	43	15	11
GROOMING
Restructuring Cost and Reserve [Line Items]
Cost incurred	76	17	14
HEALTH CARE
Restructuring Cost and Reserve [Line Items]
Cost incurred	33	28	32
FABRIC & HOME CARE
Restructuring Cost and Reserve [Line Items]
Cost incurred	84	87	42
BABY, FEMININE & FAMILY CARE
Restructuring Cost and Reserve [Line Items]
Cost incurred	50	21	83
CORPORATE
Restructuring Cost and Reserve [Line Items]
Cost incurred	$ 371	$ 161	$ 71

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Goodwill By Global Business Unit (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Goodwill [Roll Forward]
Beginning balance	$ 40,659	$ 39,700
Acquisitions and divestitures	(61)	438
Translation and other	(295)	521
Ending balance	40,303	40,659
Beauty
Goodwill [Roll Forward]
Beginning balance	13,888	13,296
Acquisitions and divestitures	(61)	405
Translation and other	(104)	187
Ending balance	13,723	13,888
Grooming
Goodwill [Roll Forward]
Beginning balance	12,703	12,571
Acquisitions and divestitures	0	0
Translation and other	(71)	132
Ending balance	12,633	12,703
Accumulated impairment losses	7,900	7,900	$ 7,900
Health Care
Goodwill [Roll Forward]
Beginning balance	7,718	7,589
Acquisitions and divestitures	0	0
Translation and other	(80)	129
Ending balance	7,638	7,718
Fabric & Home Care
Goodwill [Roll Forward]
Beginning balance	1,821	1,808
Acquisitions and divestitures	0	0
Translation and other	(10)	13
Ending balance	1,810	1,821
Baby, Feminine & Family Care
Goodwill [Roll Forward]
Beginning balance	4,529	4,436
Acquisitions and divestitures	0	33
Translation and other	(30)	60
Ending balance	$ 4,499	$ 4,529

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Indefinite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible asset impairment charge	$ 1,341	$ 0	$ 0
Gillette
Indefinite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible asset impairment charge	1,300
Indefinite-lived intangible asset impairment charge, after tax	1,000
Indefinite-lived intangible asset	$ 12,800

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS - Intangible Assets (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 9,019	$ 9,047
Accumulated Amortization	(6,558)	(6,256)
Indefinite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	28,605	30,039
Accumulated Amortization	(6,558)	(6,256)
Brands
Indefinite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	19,587	20,992
Brands
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	4,318	4,352
Accumulated Amortization	(2,725)	(2,540)
Indefinite-Lived Intangible Assets [Line Items]
Accumulated Amortization	(2,725)	(2,540)
Patents and technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	2,794	2,775
Accumulated Amortization	(2,683)	(2,649)
Indefinite-Lived Intangible Assets [Line Items]
Accumulated Amortization	(2,683)	(2,649)
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,834	1,847
Accumulated Amortization	(1,121)	(1,039)
Indefinite-Lived Intangible Assets [Line Items]
Accumulated Amortization	(1,121)	(1,039)
Other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	72	73
Accumulated Amortization	(29)	(28)
Indefinite-Lived Intangible Assets [Line Items]
Accumulated Amortization	$ (29)	$ (28)

GOODWILL AND INTANGIBLE ASSET_5

GOODWILL AND INTANGIBLE ASSETS - Amortization Of Intangible Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible asset amortization	$ 338	$ 327	$ 312

GOODWILL AND INTANGIBLE ASSET_6

GOODWILL AND INTANGIBLE ASSETS - Estimated Amortization Expense (Details) $ in Millions	Jun. 30, 2024 USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2025	$ 318
2026	297
2027	287
2028	248
2029	$ 200

INCOME TAXES - Earnings From Co

INCOME TAXES - Earnings From Continuing Operations Before Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
United States	$ 12,246	$ 12,107	$ 11,698
International	6,515	6,246	6,297
TOTAL	$ 18,761	$ 18,353	$ 17,995

INCOME TAXES - Provision For In

INCOME TAXES - Provision For Income Taxes On Continuing Operations (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
CURRENT TAX EXPENSE
U.S. federal	$ 1,954	$ 2,303	$ 1,916
International	1,708	1,412	1,333
U.S. state and local	368	353	355
TOTAL	4,031	4,068	3,604
DEFERRED TAX EXPENSE/(BENEFIT)
U.S. federal	(133)	(224)	(320)
International and other	(111)	(229)	(82)
TOTAL	(244)	(453)	(402)
TOTAL TAX EXPENSE	$ 3,787	$ 3,615	$ 3,202

INCOME TAXES - Income Tax Rate

INCOME TAXES - Income Tax Rate Reconciliation (Details)	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Effective Income Tax Rate Reconciliation, Percent [Abstract]
U.S. federal statutory income tax rate	21%	21%	21%
Country mix impacts of foreign operations	0.10%	(0.50%)	(0.30%)
State income taxes, net of federal benefit	1.80%	1.60%	1.50%
Excess tax benefits from the exercise of stock options	(1.50%)	(1.00%)	(2.00%)
Foreign derived intangible income deduction (FDII)	(1.10%)	(0.80%)	(1.10%)
Changes in uncertain tax positions	0.10%	0.10%	(0.40%)
Other	(0.20%)	(0.70%)	(0.90%)
EFFECTIVE INCOME TAX RATE	20.20%	19.70%	17.80%

INCOME TAXES - Additional Infor

INCOME TAXES - Additional Information (Details) $ in Millions	12 Months Ended
	Jun. 30, 2024 USD ($) country audit	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)
Income Tax Contingency [Line Items]
Undistributed earnings of foreign subsidiaries	$ 22,000
Unrecognized tax benefits that could impact the effective tax rate in future periods	$ 488
Number of countries with on-the-ground operations | country	70
Number of income tax jurisdictions | country	150
Open tax year	2010
Uncertain tax positions, accrued interest	$ 111	$ 143
Uncertain tax positions, accrued penalties	15	12
Uncertain tax positions, interest expense	18	23	$ 21
Uncertain tax positions, penalties expense	4	1	$ 2
Net operating loss carryforwards	2,300	$ 2,900
Subject To Expiration, Expiring Between 2024 and 2043
Income Tax Contingency [Line Items]
Net operating loss carryforwards	100
Not Subject To Expiration
Income Tax Contingency [Line Items]
Net operating loss carryforwards	$ 2,200
Minimum
Income Tax Contingency [Line Items]
Number of jurisdictional audits | audit	30
Maximum
Income Tax Contingency [Line Items]
Number of jurisdictional audits | audit	40

INCOME TAXES - Unrecognized Tax

INCOME TAXES - Unrecognized Tax Benefits Reconciliation (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Unrecognized Tax Benefits [Roll Forward]
BEGINNING OF YEAR	$ 515	$ 583	$ 627
Increases in tax positions for prior years	157	113	102
Decreases in tax positions for prior years	(133)	(119)	(118)
Increases in tax positions for current year	160	60	53
Settlements with taxing authorities	(100)	(108)	(42)
Lapse in statute of limitations	(9)	(7)	(17)
Currency translation	(8)	(7)	(22)
END OF YEAR	$ 582	$ 515	$ 583

INCOME TAXES - Deferred Income

INCOME TAXES - Deferred Income Tax Assets And Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
DEFERRED TAX ASSETS
Capitalized research & development	$ 1,140	$ 930
Loss and other carryforwards	892	1,014
Pension and other retiree benefits	592	737
Accrued marketing and promotion	460	421
Stock-based compensation	433	412
Fixed assets	206	223
Lease liabilities	199	197
Unrealized loss on financial and foreign exchange transactions	107	282
Other	843	874
Valuation allowances	(290)	(403)
TOTAL	4,582	4,687
DEFERRED TAX LIABILITIES
Goodwill and other intangible assets	5,459	5,811
Fixed assets	1,573	1,556
Other retiree benefits	1,319	1,101
Unrealized gain on financial and foreign exchange transactions	263	198
Lease right-of-use assets	196	191
Foreign withholding tax on earnings to be repatriated	104	96
Other	441	381
TOTAL	$ 9,355	$ 9,334

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions		12 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
CONSOLIDATED AMOUNTS
NET EARNINGS		$ 14,974	$ 14,738	$ 14,793
Less: Net earnings attributable to noncontrolling interests		95	85	51
NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE		14,879	14,653	14,742
Less: Preferred dividends		284	282	281
Net earnings attributable to P&G available to common shareholders (Basic)		14,595	14,371	14,461
Net earnings attributable to P&G available to common shareholders (Diluted)		$ 14,879	$ 14,653	$ 14,742
SHARES IN MILLIONS
Basic weighted average common shares outstanding (in shares)		2,360.1	2,368.2	2,410.3
Add effect of dilutive securities:
Stock options and other unvested equity awards (in shares)		38.3	39.4	49.5
Convertible preferred shares (in shares)		73.6	76.3	79.3
Diluted weighted average common shares outstanding (in shares)		2,471.9	2,483.9	2,539.1
NET EARNINGS PER COMMON SHARE
Basic (in dollars per share)	[1]	$ 6.18	$ 6.07	$ 6
Diluted (in dollars per share)	[1]	$ 6.02	$ 5.90	$ 5.81
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)		4	19	11
[1]Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings attributable to Procter & Gamble.

SHARE-BASED COMPENSATION - Addi

SHARE-BASED COMPENSATION - Additional Information (Details) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares authorized (in shares)	150
Number of shares available for grant (in shares)	77
Grant date fair value of shares vested	$ 256	$ 220	$ 248
Stock options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Award vesting period (in years)	3 years
Award expiration period (in years)	10 years
Compensation cost not yet recognized	$ 171
Compensation cost not yet recognized, period for recognition (in years)	1 year 7 months 6 days
RSUs and PSUs
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Compensation cost not yet recognized	$ 243
Compensation cost not yet recognized, period for recognition (in years)	1 year 7 months 6 days
RSUs
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Award vesting period (in years)	3 years
PSUs
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Award vesting period (in years)	3 years

SHARE-BASED COMPENSATION - Shar

SHARE-BASED COMPENSATION - Share-Based Compensation Activity (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based expense	$ 562	$ 545	$ 528
Income tax benefit	103	103	88
Stock options
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based expense	270	303	271
RSUs and PSUs
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based expense	$ 292	$ 242	$ 257

SHARE-BASED COMPENSATION - Assu

SHARE-BASED COMPENSATION - Assumptions Utilized In The Binomial Lattice-Based Valuation Model (Details)	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Interest rate, minimum (in percent)	4.60%	3.70%	0.10%
Interest rate, maximum (in percent)	5.50%	4.10%	1.60%
Weighted average interest rate (in percent)	4.60%	3.70%	1.50%
Dividend yield (in percent)	2.50%	2.60%	2.40%
Expected volatility (in percent)	18%	21%	19%
Expected life in years (in years)	8 years 9 months 18 days	8 years 9 months 18 days	9 years 1 month 6 days

SHARE-BASED COMPENSATION - Opti

SHARE-BASED COMPENSATION - Options Outstanding (Details) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Jun. 30, 2024 USD ($) $ / shares shares
Options (in thousands)
Outstanding, beginning balance (in shares) | shares	121,205
Granted (in shares) | shares	8,737
Exercised (in shares) | shares	(22,190)
Forfeited/expired (in shares) | shares	(391)
Outstanding, ending balance (in shares) | shares	107,362
Exercisable (in shares) | shares	75,692
Weighted Average Exercise Price
Outstanding, beginning balance (in dollars per share) | $ / shares	$ 104.18
Granted (in dollars per share) | $ / shares	147.76
Exercised (in dollars per share) | $ / shares	85.08
Forfeited/expired (in dollars per share) | $ / shares	134.69
Outstanding, ending balance (in dollars per share) | $ / shares	111.59
Exercisable (in dollars per share) | $ / shares	$ 99.51
Options Additional Disclosures
Outstanding, Weighted Average Contractual Life in Years (in years)	5 years 1 month 6 days
Exercisable, Weighted Average Contractual Life in Years (in years)	3 years 10 months 24 days
Outstanding, Aggregate Intrinsic Value | $	$ 5,732
Exercisable, Aggregate Intrinsic Value | $	$ 4,951

SHARE-BASED COMPENSATION - Ad_2

SHARE-BASED COMPENSATION - Additional Information On Stock Options (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Weighted average grant-date fair value of options granted (in dollars per share)	$ 34.25	$ 29.58	$ 21.55
Intrinsic value of options exercised	$ 1,621	$ 979	$ 1,886
Grant-date fair value of options that vested	244	219	177
Cash received from options exercised	1,888	1,189	1,930
Actual tax benefit from options exercised	$ 330	$ 207	$ 399

SHARE-BASED COMPENSATION - Sche

SHARE-BASED COMPENSATION - Schedule Of Non-Vested RSUs And PSUs (Details)	12 Months Ended
	Jun. 30, 2024 $ / shares shares
RSUs
Units (in thousands)
Non-vested, beginning balance (in shares) | shares	3,172,000
Granted (in shares) | shares	1,519,000
Vested (in shares) | shares	(1,299,000)
Forfeited (in shares) | shares	(71,000)
Non-vested, ending balance (in shares) | shares	3,321,000
Weighted Average Grant Date Fair Value
Non-vested, beginning balance (in dollars per share) | $ / shares	$ 134.94
Granted (in dollars per share) | $ / shares	147.15
Vested (in dollars per share) | $ / shares	136.73
Forfeited (in dollars per share) | $ / shares	143.02
Non-vested, ending balance (in dollars per share) | $ / shares	$ 139.65
PSUs
Units (in thousands)
Non-vested, beginning balance (in shares) | shares	1,011,000
Granted (in shares) | shares	524,000
Vested (in shares) | shares	(506,000)
Forfeited (in shares) | shares	(13,000)
Non-vested, ending balance (in shares) | shares	1,016,000
Weighted Average Grant Date Fair Value
Non-vested, beginning balance (in dollars per share) | $ / shares	$ 142.40
Granted (in dollars per share) | $ / shares	155.86
Vested (in dollars per share) | $ / shares	152.73
Forfeited (in dollars per share) | $ / shares	155.36
Non-vested, ending balance (in dollars per share) | $ / shares	$ 144.06

POSTRETIREMENT BENEFITS AND E_3

POSTRETIREMENT BENEFITS AND EMPLOYEE STOCK OWNERSHIP PLAN - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 1991	Jun. 30, 1989
Defined Benefit Plan Disclosure [Line Items]
Defined contribution expense	$ 425	$ 392	$ 366
Accumulated benefit obligation	$ 11,600	$ 11,800
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Expected return on plan assets (in percent)	6%	5.90%	5.50%
Expected future employer contributions, next fiscal year	$ 180
Pension Benefits | Series A Preferred Stock
Defined Benefit Plan Disclosure [Line Items]
ESOP, direct loan amount					$ 1,000
ESOP, debt structure, employer loan guarantee	$ 0
Dividend (in dollars per share)	$ 3.83
Liquidation value (in dollars per share)	$ 6.82
Other Retiree Benefits
Defined Benefit Plan Disclosure [Line Items]
Expected return on plan assets (in percent)	8.50%	8.40%	8.40%
Expected future employer contributions, next fiscal year	$ 53
Other Retiree Benefits | Series B Preferred Stock
Defined Benefit Plan Disclosure [Line Items]
ESOP, direct loan amount				$ 1,000
ESOP, debt structure, employer loan guarantee	$ 737
Dividend (in dollars per share)	$ 3.83
Liquidation value (in dollars per share)	$ 12.96
Treasury Stock
Defined Benefit Plan Disclosure [Line Items]
Expected return on plan assets (in percent)	8.50%
Minimum | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Expected return on plan assets (in percent)	8%
Minimum | Debt securities
Defined Benefit Plan Disclosure [Line Items]
Expected return on plan assets (in percent)	3%
Maximum | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Expected return on plan assets (in percent)	9%
Maximum | Debt securities
Defined Benefit Plan Disclosure [Line Items]
Expected return on plan assets (in percent)	5%
United States
Defined Benefit Plan Disclosure [Line Items]
Contribution rate (in percent)	13%	13%	14%

POSTRETIREMENT BENEFITS AND E_4

POSTRETIREMENT BENEFITS AND EMPLOYEE STOCK OWNERSHIP PLAN - Reconciliation Of Benefit Obligations And Plan Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Pension Benefits
CHANGE IN BENEFIT OBLIGATION
Benefit obligation, beginning balance	$ 12,499	$ 12,608
Service cost	164	173	$ 253
Interest cost	527	430	253
Participants' contributions	14	13
Amendments	21	8
Net actuarial loss/(gain)	(11)	(550)
Special termination benefits	4	5
Currency translation and other	(155)	363
Benefit payments	(707)	(551)
Benefit obligation, ending balance	12,355	12,499	12,608
CHANGE IN PLAN ASSETS
Fair value of plan assets, beginning balance	10,374	10,173
Actual return on plan assets	1,058	37
Employer contributions	239	392
Participants' contributions	14	13
Currency translation and other	(119)	310
ESOP debt impacts	0	0
Benefit payments	(707)	(551)
Fair value of plan assets, ending balance	10,857	10,374	10,173
FUNDED STATUS	(1,498)	(2,125)
Other Retiree Benefits
CHANGE IN BENEFIT OBLIGATION
Benefit obligation, beginning balance	2,933	3,070
Service cost	68	71	86
Interest cost	157	142	99
Participants' contributions	56	50
Amendments	2	0
Net actuarial loss/(gain)	(268)	(208)
Special termination benefits	3	4
Currency translation and other	(22)	31
Benefit payments	(242)	(227)
Benefit obligation, ending balance	2,687	2,933	3,070
CHANGE IN PLAN ASSETS
Fair value of plan assets, beginning balance	7,324	6,889
Actual return on plan assets	784	482
Employer contributions	44	42
Participants' contributions	56	50
Currency translation and other	0	1
ESOP debt impacts	77	87
Benefit payments	(242)	(227)
Fair value of plan assets, ending balance	8,043	7,324	$ 6,889
FUNDED STATUS	$ 5,356	$ 4,391

POSTRETIREMENT BENEFITS AND E_5

POSTRETIREMENT BENEFITS AND EMPLOYEE STOCK OWNERSHIP PLAN - Reconciliation Of Benefit Plans Recognized In The Balance Sheet (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Pension Benefits
CLASSIFICATION OF NET AMOUNT RECOGNIZED
Noncurrent assets	$ 1,458	$ 1,085
Current liabilities	(73)	(94)
Noncurrent liabilities	(2,884)	(3,116)
NET AMOUNT RECOGNIZED	(1,498)	(2,125)
AMOUNTS RECOGNIZED IN ACCUMULATED OTHER COMPREHENSIVE (INCOME)/LOSS (AOCI)
Net actuarial loss/(gain)	1,258	1,818
Prior service cost/(credit)	140	156
NET AMOUNTS RECOGNIZED IN AOCI	1,398	1,974
Other Retiree Benefits
CLASSIFICATION OF NET AMOUNT RECOGNIZED
Noncurrent assets	6,047	5,119
Current liabilities	(38)	(38)
Noncurrent liabilities	(653)	(690)
NET AMOUNT RECOGNIZED	5,356	4,391
AMOUNTS RECOGNIZED IN ACCUMULATED OTHER COMPREHENSIVE (INCOME)/LOSS (AOCI)
Net actuarial loss/(gain)	(1,493)	(1,160)
Prior service cost/(credit)	(655)	(787)
NET AMOUNTS RECOGNIZED IN AOCI	$ (2,148)	$ (1,947)

POSTRETIREMENT BENEFITS AND E_6

POSTRETIREMENT BENEFITS AND EMPLOYEE STOCK OWNERSHIP PLAN - Pension Plans With Accumulated And Projected Benefit Obligations In Excess Of Plan (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	$ 7,613	$ 7,967
Fair value of plan assets	4,656	4,758
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation	7,103	7,442
Fair value of plan assets	4,624	4,677
Other Retiree Benefits
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation	770	818
Fair value of plan assets	$ 79	$ 89

POSTRETIREMENT BENEFITS AND E_7

POSTRETIREMENT BENEFITS AND EMPLOYEE STOCK OWNERSHIP PLAN - Components Of Net Periodic Benefit Cost (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Pension Benefits
AMOUNTS RECOGNIZED IN NET PERIODIC BENEFIT COST/(CREDIT)
Service cost	$ 164	$ 173	$ 253
Interest cost	527	430	253
Expected return on plan assets	(610)	(591)	(684)
Amortization of net actuarial loss/(gain)	95	133	337
Amortization of prior service cost/(credit)	37	26	28
Amortization of net actuarial loss/(gain) due to settlements	(13)	0	(5)
Special termination benefits	4	5	4
NET PERIODIC BENEFIT COST/(CREDIT)	203	176	186
CHANGE IN PLAN ASSETS AND BENEFIT OBLIGATIONS RECOGNIZED IN AOCI
Net actuarial loss/(gain) - current year	(458)	4
Prior service cost/(credit) - current year	21	8
Amortization of net actuarial (loss)/gain	(95)	(133)
Amortization of prior service (cost)/credit	(37)	(26)
Amortization of net actuarial (loss)/gain due to settlements	13	0
Currency translation and other	(21)	45
TOTAL CHANGE IN AOCI	(576)	(102)
NET AMOUNTS RECOGNIZED IN PERIODIC BENEFIT COST/(CREDIT) AND AOCI	(373)	74
Other Retiree Benefits
AMOUNTS RECOGNIZED IN NET PERIODIC BENEFIT COST/(CREDIT)
Service cost	68	71	86
Interest cost	157	142	99
Expected return on plan assets	(687)	(611)	(564)
Amortization of net actuarial loss/(gain)	(38)	(7)	11
Amortization of prior service cost/(credit)	(127)	(125)	(107)
Amortization of net actuarial loss/(gain) due to settlements	0	0	0
Special termination benefits	3	4	1
NET PERIODIC BENEFIT COST/(CREDIT)	(623)	(526)	$ (474)
CHANGE IN PLAN ASSETS AND BENEFIT OBLIGATIONS RECOGNIZED IN AOCI
Net actuarial loss/(gain) - current year	(366)	(79)
Prior service cost/(credit) - current year	2	0
Amortization of net actuarial (loss)/gain	38	7
Amortization of prior service (cost)/credit	127	125
Amortization of net actuarial (loss)/gain due to settlements	0	0
Currency translation and other	(2)	0
TOTAL CHANGE IN AOCI	(201)	53
NET AMOUNTS RECOGNIZED IN PERIODIC BENEFIT COST/(CREDIT) AND AOCI	$ (824)	$ (473)

POSTRETIREMENT BENEFITS AND E_8

POSTRETIREMENT BENEFITS AND EMPLOYEE STOCK OWNERSHIP PLAN - Weighted Average Assumptions For The Benefit Calculations As Well As Assumed Health Care Trend Rates Balance Sheets (Details)	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Pension Benefits
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]
Discount rate (in percent)	4.20%	4.20%
Rate of compensation increase (in percent)	2.80%	2.90%
Interest crediting rate for cash balance plans (in percent)	4.70%	4.30%
Other Retiree Benefits
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]
Discount rate (in percent)	5.80%	5.60%
Defined Benefit Plan, Assumed Health Care Cost Trend Rates [Abstract]
Health care cost trend rates assumed for next year (in percent)	6.30%	6.10%
Rate to which the health care cost trend rate is assumed to decline (ultimate trend rate) (in percent)	4.90%	4.50%
Year that the rate reaches the ultimate trend rate	2029	2028

POSTRETIREMENT BENEFITS AND E_9

POSTRETIREMENT BENEFITS AND EMPLOYEE STOCK OWNERSHIP PLAN - Weighted Average Assumptions For The Benefit Calculations As Well As Assumed Health Care Trend Rates Statement Of Earnings (Details)	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rate (in percent)	4.20%	3.70%	1.70%
Expected return on plan assets (in percent)	6%	5.90%	5.50%
Rate of compensation increase (in percent)	2.90%	2.80%	2.70%
Interest crediting rate for cash balance plans (in percent)	4.30%	4.30%	4.40%
Other Retiree Benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rate (in percent)	5.60%	5%	3.20%
Expected return on plan assets (in percent)	8.50%	8.40%	8.40%

POSTRETIREMENT BENEFITS AND _10

POSTRETIREMENT BENEFITS AND EMPLOYEE STOCK OWNERSHIP PLAN - Target And Actual Asset Allocation (Details)	Jun. 30, 2024	Jun. 30, 2023
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Target Asset Allocation (in percent)	100%
Actual Asset Allocation (in percent)	100%	100%
Other Retiree Benefits
Defined Benefit Plan Disclosure [Line Items]
Target Asset Allocation (in percent)	100%
Actual Asset Allocation (in percent)	100%	100%
Cash | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Target Asset Allocation (in percent)	1%
Actual Asset Allocation (in percent)	2%	1%
Cash | Other Retiree Benefits
Defined Benefit Plan Disclosure [Line Items]
Target Asset Allocation (in percent)	2%
Actual Asset Allocation (in percent)	2%	2%
Debt securities | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Target Asset Allocation (in percent)	61%
Actual Asset Allocation (in percent)	61%	60%
Debt securities | Other Retiree Benefits
Defined Benefit Plan Disclosure [Line Items]
Target Asset Allocation (in percent)	1%
Actual Asset Allocation (in percent)	1%	1%
Equity securities | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Target Asset Allocation (in percent)	38%
Actual Asset Allocation (in percent)	37%	39%
Equity securities | Other Retiree Benefits
Defined Benefit Plan Disclosure [Line Items]
Target Asset Allocation (in percent)	97%
Actual Asset Allocation (in percent)	97%	97%

POSTRETIREMENT BENEFITS AND _11

POSTRETIREMENT BENEFITS AND EMPLOYEE STOCK OWNERSHIP PLAN - Fair Value Of Plan Asset (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Pension Benefits
ASSETS AT FAIR VALUE
TOTAL ASSETS AT FAIR VALUE	$ 10,857	$ 10,374	$ 10,173
Pension Benefits | Fair Value, Inputs, Level 1, 2 and 3
ASSETS AT FAIR VALUE
TOTAL ASSETS AT FAIR VALUE	1,508	1,337
Pension Benefits | Fair Value Measured at Net Asset Value Per Share
ASSETS AT FAIR VALUE
TOTAL ASSETS AT FAIR VALUE	9,349	9,037
Pension Benefits | Cash | Fair Value, Inputs, Level 1
ASSETS AT FAIR VALUE
TOTAL ASSETS AT FAIR VALUE	267	54
Pension Benefits | Company common stock | Fair Value, Inputs, Level 1
ASSETS AT FAIR VALUE
TOTAL ASSETS AT FAIR VALUE	0	0
Pension Benefits | Company preferred stock | Fair Value, Inputs, Level 2
ASSETS AT FAIR VALUE
TOTAL ASSETS AT FAIR VALUE	0	0
Pension Benefits | Fixed income securities | Fair Value, Inputs, Level 2
ASSETS AT FAIR VALUE
TOTAL ASSETS AT FAIR VALUE	1,076	1,190
Pension Benefits | Insurance contracts | Fair Value, Inputs, Level 3
ASSETS AT FAIR VALUE
TOTAL ASSETS AT FAIR VALUE	165	93
Other Retiree Benefits
ASSETS AT FAIR VALUE
TOTAL ASSETS AT FAIR VALUE	8,043	7,324	$ 6,889
Other Retiree Benefits | Fair Value, Inputs, Level 1, 2 and 3
ASSETS AT FAIR VALUE
TOTAL ASSETS AT FAIR VALUE	7,966	7,237
Other Retiree Benefits | Fair Value Measured at Net Asset Value Per Share
ASSETS AT FAIR VALUE
TOTAL ASSETS AT FAIR VALUE	77	87
Other Retiree Benefits | Cash | Fair Value, Inputs, Level 1
ASSETS AT FAIR VALUE
TOTAL ASSETS AT FAIR VALUE	135	148
Other Retiree Benefits | Company common stock | Fair Value, Inputs, Level 1
ASSETS AT FAIR VALUE
TOTAL ASSETS AT FAIR VALUE	451	368
Other Retiree Benefits | Company preferred stock | Fair Value, Inputs, Level 2
ASSETS AT FAIR VALUE
TOTAL ASSETS AT FAIR VALUE	7,380	6,721
Other Retiree Benefits | Fixed income securities | Fair Value, Inputs, Level 2
ASSETS AT FAIR VALUE
TOTAL ASSETS AT FAIR VALUE	0	0
Other Retiree Benefits | Insurance contracts | Fair Value, Inputs, Level 3
ASSETS AT FAIR VALUE
TOTAL ASSETS AT FAIR VALUE	$ 0	$ 0

POSTRETIREMENT BENEFITS AND _12

POSTRETIREMENT BENEFITS AND EMPLOYEE STOCK OWNERSHIP PLAN - Total Benefit Payments Expected To Be Paid (Details) $ in Millions	Jun. 30, 2024 USD ($)
Pension Benefits
EXPECTED BENEFIT PAYMENTS
2025	$ 635
2026	595
2027	615
2028	666
2029	684
2030 - 2034	3,747
Other Retiree Benefits
EXPECTED BENEFIT PAYMENTS
2025	166
2026	179
2027	176
2028	181
2029	187
2030 - 2034	$ 1,032

POSTRETIREMENT BENEFITS AND _13

POSTRETIREMENT BENEFITS AND EMPLOYEE STOCK OWNERSHIP PLAN - ESOP Shares Outstanding (Details) - shares shares in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Series A Preferred Stock
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Allocated (in shares)	22,724	24,449	25,901
Unallocated (in shares)	0	535	1,123
TOTAL (in shares)	22,724	24,984	27,024
Series B Preferred Stock
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Allocated (in shares)	33,723	32,172	30,719
Unallocated (in shares)	15,864	17,867	20,120
TOTAL (in shares)	49,587	50,039	50,839

RISK MANAGEMENT ACTIVITIES AN_3

RISK MANAGEMENT ACTIVITIES AND FAIR VALUE MEASUREMENTS - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Collateral already posted, aggregate fair value	$ 307	$ 1,088
Cash equivalents	8,000	6,800
Fair value of long-term debt	27,700	26,900
Current portion of long-term debt instruments	$ 3,800	$ 3,900
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	OTHER NONCURRENT ASSETS, Prepaid expenses and other current assets	OTHER NONCURRENT ASSETS, Prepaid expenses and other current assets
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Accrued and other liabilities, OTHER NONCURRENT LIABILITIES	Accrued and other liabilities, OTHER NONCURRENT LIABILITIES
Fair Value Hedging | Underlying, Other
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Carrying amount of the underlying debt obligation	$ 2,700	$ 3,600
Net Investment Hedging | Underlying, Other
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Carrying amount of the underlying debt obligation	$ 11,900	$ 11,800

RISK MANAGEMENT ACTIVITIES AN_4

RISK MANAGEMENT ACTIVITIES AND FAIR VALUE MEASUREMENTS - Notional Amounts And Fair Values Of Qualifying And Non-Qualifying Financial Instruments Used In Hedging Transactions (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Amount	$ 16,325	$ 18,538
Fair Value Asset	120	33
Fair Value (Liability)	(379)	(1,118)
Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Amount	13,133	15,049
Fair Value Asset	119	26
Fair Value (Liability)	(356)	(1,076)
Interest rate contracts | Fair Value Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Amount	2,993	4,044
Fair Value Asset	0	0
Fair Value (Liability)	(325)	(445)
Foreign currency contracts | Not Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Amount	3,192	3,489
Fair Value Asset	1	7
Fair Value (Liability)	(23)	(42)
Foreign currency contracts | Net Investment Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Amount	10,140	11,005
Fair Value Asset	119	26
Fair Value (Liability)	$ (31)	$ (631)

RISK MANAGEMENT ACTIVITIES AN_5

RISK MANAGEMENT ACTIVITIES AND FAIR VALUE MEASUREMENTS - Gains And Losses On Derivatives In Net Investment Hedges Recognized in OCI (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gain (loss) excluded from effectiveness testing, which was recognized in earnings	$ 229	$ 238
Gain/(loss) recognized in AOCI	255	(315)
Foreign currency contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of Gain/(Loss) Recognized in OCI on Derivatives	$ 163	$ (544)

RISK MANAGEMENT ACTIVITIES AN_6

RISK MANAGEMENT ACTIVITIES AND FAIR VALUE MEASUREMENTS - Gains And Losses On Derivatives In Net Investment Hedges Recognized in Earnings (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Interest rate contracts | Fair Value Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of Gain/(Loss) Recognized in Earnings	$ 120	$ (141)
Foreign currency contracts | Not Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of Gain/(Loss) Recognized in Earnings	$ (91)	$ (97)

SHORT-TERM AND LONG-TERM DEBT -

SHORT-TERM AND LONG-TERM DEBT - Short-Term Debt (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Debt Disclosure [Abstract]
Current portion of long-term debt	$ 3,838	$ 3,951
Commercial paper	3,327	6,236
Other	26	42
TOTAL	$ 7,191	$ 10,229
Weighted average interest rate of debt due within one year (in percent)	3.70%	4.20%

SHORT-TERM AND LONG-TERM DEBT_2

SHORT-TERM AND LONG-TERM DEBT - Long-Term Debt (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Debt Instrument [Line Items]
All other long-term debt	$ 5,550	$ 5,244
Current portion of long-term debt	(3,838)	(3,951)
TOTAL	$ 25,269	$ 24,378
Weighted average interest rate of long-term debt (in percent)	3.20%	2.90%
3.10% USD note due August 2023
Debt Instrument [Line Items]
Interest rate (in percent)	3.10%
Long-term debt	$ 0	$ 1,000
1.13% EUR note due November 2023
Debt Instrument [Line Items]
Interest rate (in percent)	1.13%
Long-term debt	$ 0	1,359
0.50% EUR note due October 2024
Debt Instrument [Line Items]
Interest rate (in percent)	0.50%
Long-term debt	$ 534	544
0.63% EUR note due October 2024
Debt Instrument [Line Items]
Interest rate (in percent)	0.63%
Long-term debt	$ 855	870
0.55% USD note due October 2025
Debt Instrument [Line Items]
Interest rate (in percent)	0.55%
Long-term debt	$ 1,000	1,000
4.10% USD note due January 2026
Debt Instrument [Line Items]
Interest rate (in percent)	4.10%
Long-term debt	$ 650	650
2.70% USD note due February 2026
Debt Instrument [Line Items]
Interest rate (in percent)	2.70%
Long-term debt	$ 600	600
1.00% USD note due April 2026
Debt Instrument [Line Items]
Interest rate (in percent)	1%
Long-term debt	$ 1,000	1,000
3.25% EUR note due August 2026
Debt Instrument [Line Items]
Interest rate (in percent)	3.25%
Long-term debt	$ 695	707
2.45% USD note due November 2026
Debt Instrument [Line Items]
Interest rate (in percent)	2.45%
Long-term debt	$ 875	875
1.90% USD note due February 2027
Debt Instrument [Line Items]
Interest rate (in percent)	1.90%
Long-term debt	$ 1,000	1,000
2.80% USD note due March 2027
Debt Instrument [Line Items]
Interest rate (in percent)	2.80%
Long-term debt	$ 500	500
4.88% EUR note due May 2027
Debt Instrument [Line Items]
Interest rate (in percent)	4.88%
Long-term debt	$ 1,069	1,087
2.85% USD note due August 2027
Debt Instrument [Line Items]
Interest rate (in percent)	2.85%
Long-term debt	$ 750	750
3.95% USD note due January 2028
Debt Instrument [Line Items]
Interest rate (in percent)	3.95%
Long-term debt	$ 600	600
3.15% EUR note due April 2028
Debt Instrument [Line Items]
Interest rate (in percent)	3.15%
Long-term debt	$ 695	0
1.20% EUR note due October 2028
Debt Instrument [Line Items]
Interest rate (in percent)	1.20%
Long-term debt	$ 855	870
4.35% USD note due January 2029
Debt Instrument [Line Items]
Interest rate (in percent)	4.35%
Long-term debt	$ 600	0
1.25% EUR note due October 2029
Debt Instrument [Line Items]
Interest rate (in percent)	1.25%
Long-term debt	$ 534	544
3.00% USD note due March 2030
Debt Instrument [Line Items]
Interest rate (in percent)	3%
Long-term debt	$ 1,500	1,500
0.35% EUR note due May 2030
Debt Instrument [Line Items]
Interest rate (in percent)	0.35%
Long-term debt	$ 534	544
1.20% USD note due October 2030
Debt Instrument [Line Items]
Interest rate (in percent)	1.20%
Long-term debt	$ 1,250	1,250
1.95% USD note due April 2031
Debt Instrument [Line Items]
Interest rate (in percent)	1.95%
Long-term debt	$ 1,000	1,000
3.25% EUR note due August 2031
Debt Instrument [Line Items]
Interest rate (in percent)	3.25%
Long-term debt	$ 695	707
2.30% USD note due February 2032
Debt Instrument [Line Items]
Interest rate (in percent)	2.30%
Long-term debt	$ 850	850
4.05% USD note due January 2033
Debt Instrument [Line Items]
Interest rate (in percent)	4.05%
Long-term debt	$ 850	850
4.55% USD note due January 2034
Debt Instrument [Line Items]
Interest rate (in percent)	4.55%
Long-term debt	$ 750	0
3.20% EUR note due April 2034
Debt Instrument [Line Items]
Interest rate (in percent)	3.20%
Long-term debt	$ 909	0
5.55% USD note due March 2037
Debt Instrument [Line Items]
Interest rate (in percent)	5.55%
Long-term debt	$ 716	716
1.88% EUR note due October 2038
Debt Instrument [Line Items]
Interest rate (in percent)	1.88%
Long-term debt	$ 534	544
3.55% USD note due March 2040
Debt Instrument [Line Items]
Interest rate (in percent)	3.55%
Long-term debt	$ 516	516
0.90% EUR note due November 2041
Debt Instrument [Line Items]
Interest rate (in percent)	0.90%
Long-term debt	$ 641	$ 652

SHORT-TERM AND LONG-TERM DEBT_3

SHORT-TERM AND LONG-TERM DEBT - Long-Term Debt Maturities (Details) $ in Millions	Jun. 30, 2024 USD ($)
Maturities of Long-term Debt [Abstract]
2025	$ 3,838
2026	3,367
2027	4,350
2028	2,074
2029	$ 1,867

SHORT-TERM AND LONG-TERM DEBT_4

SHORT-TERM AND LONG-TERM DEBT - Additional Information (Details) - Line of Credit $ in Billions	12 Months Ended
	Jun. 30, 2024 USD ($)
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 8
Five-Year Credit Facility
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 3.2
Facility term	5 years
364-Day Credit Facility
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 4.8
Facility term	364 days

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) - Statement of AOCI (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 47,065	$ 46,854	$ 46,654
Other comprehensive income/(loss), before tax:
OCI before reclassifications	443	(255)
Amounts reclassified to the Consolidated Statement of Earnings	169	27
Total other comprehensive income/(loss), before tax	612	(228)
Tax effect	(295)	190
TOTAL OTHER COMPREHENSIVE INCOME/(LOSS), NET OF TAX	317	(38)	1,547
Less: OCI attributable to non-controlling interests, net of tax	(3)	(7)
Ending balance	50,559	47,065	46,854
Accumulated Other Comprehensive Income/(Loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(12,220)	(12,189)	(13,744)
Other comprehensive income/(loss), before tax:
TOTAL OTHER COMPREHENSIVE INCOME/(LOSS), NET OF TAX	320	(31)	1,555
Ending balance	(11,900)	(12,220)	(12,189)
Investment Securities
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	13	20
Other comprehensive income/(loss), before tax:
OCI before reclassifications	(4)	(9)
Amounts reclassified to the Consolidated Statement of Earnings	0	0
Total other comprehensive income/(loss), before tax	(4)	(9)
Tax effect	1	2
TOTAL OTHER COMPREHENSIVE INCOME/(LOSS), NET OF TAX	(3)	(7)
Less: OCI attributable to non-controlling interests, net of tax	0	0
Ending balance	10	13	20
Post-retirement Benefit Plans
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	67	27
Other comprehensive income/(loss), before tax:
OCI before reclassifications	823	22
Amounts reclassified to the Consolidated Statement of Earnings	(47)	27
Total other comprehensive income/(loss), before tax	776	49
Tax effect	(230)	(9)
TOTAL OTHER COMPREHENSIVE INCOME/(LOSS), NET OF TAX	546	40
Less: OCI attributable to non-controlling interests, net of tax	0	0
Ending balance	613	67	27
Foreign Currency Translation
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(12,300)	(12,236)
Other comprehensive income/(loss), before tax:
OCI before reclassifications	(376)	(268)
Amounts reclassified to the Consolidated Statement of Earnings	216	0
Total other comprehensive income/(loss), before tax	(160)	(268)
Tax effect	(66)	197
TOTAL OTHER COMPREHENSIVE INCOME/(LOSS), NET OF TAX	(226)	(71)
Less: OCI attributable to non-controlling interests, net of tax	(3)	(7)
Ending balance	$ (12,522)	$ (12,300)	$ (12,236)

LEASES - Lease Cost (Details)

LEASES - Lease Cost (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Leases [Abstract]
Operating lease cost	$ 252	$ 229	$ 220
Variable lease cost	91	79	89
Total lease cost	$ 343	$ 308	$ 309

LEASES - Supplemental Balance S

LEASES - Supplemental Balance Sheet (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
Right-of-use assets	$ 875	$ 781
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	OTHER NONCURRENT ASSETS	OTHER NONCURRENT ASSETS
Current lease liabilities	$ 243	$ 222
Noncurrent lease liabilities	666	595
Total operating lease liabilities	$ 909	$ 817
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Accrued and other liabilities, OTHER NONCURRENT LIABILITIES
Weighted average remaining lease term (in years)	6 years	6 years 2 months 12 days
Weighted average discount rate (in percent)	4.50%	3.50%

LEASES - Future Maturities (Det

LEASES - Future Maturities (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
1 year	$ 244
2 years	206
3 years	164
4 years	122
5 years	105
Over 5 years	190
Total lease payments	1,031
Less: Interest	(122)
Total operating lease liabilities	$ 909	$ 817

LEASES - Additional Information

LEASES - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities	$ 255	$ 233
Right-of-use assets obtained in exchange for lease liabilities	$ 357	$ 213

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Purchase Obligations (Details) $ in Millions	Jun. 30, 2024 USD ($)
Unrecorded Unconditional Purchase Obligation, Rolling Maturity [Abstract]
2025	$ 1,092
2026	596
2027	314
2028	214
2029	162
Thereafter	$ 232

SUPPLIER FINANCE PROGRAMS (Deta

SUPPLIER FINANCE PROGRAMS (Details) - USD ($) $ in Billions	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Supplier Finance Program [Line Items]
Amount due to suppliers participating in SCF	$ 5.6	$ 5.7
Supplier Finance Program, Obligation, Statement of Financial Position [Extensible Enumeration]	Accounts payable	Accounts payable	Accounts payable
Minimum
Supplier Finance Program [Line Items]
Payment terms for suppliers (in days)	60 days
Maximum
Supplier Finance Program [Line Items]
Payment terms for suppliers (in days)	180 days

SUBSEQUENT EVENT (Details)

SUBSEQUENT EVENT (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Sep. 30, 2024	Jun. 30, 2024
Subsequent Event [Line Items]
Foreign currency translation gain (loss)		$ (216)
ARGENTINA | Forecast
Subsequent Event [Line Items]
Foreign currency translation gain (loss)	$ (750)