Supplemental Balance Sheet Information

12 Months Ended

Jun. 30, 2022

SUPPLEMENTAL BALANCE SHEET INFORMATION

Supplemental balance sheet information at June 30, 2022 and June 30, 2021 is detailed in the following tables.

Inventories

Work-in-process and inventories include raw materials, labor, and overhead. Total inventories consist of the following:

Prepaid expenses and other

Prepaid expenses and other current assets consist of the following:


(Dollars in millions)	June 30, 2022		June 30, 2021
Prepaid expenses	$	61	$	46
Short-term contract assets	398		181
Spare parts supplies	22		30
Prepaid income tax	26		22
Non-U.S. value-added tax	48		50



Other current assets	70		47
Total prepaid expenses and other	$	625	$	376

Property, plant, and equipment, net

Property, plant, and equipment, net consist of the following:


(Dollars in millions)	June 30, 2022		June 30, 2021
Land, buildings, and improvements	$	1,687	$	1,571
Machinery and equipment	1,891		1,558
Furniture and fixtures	48		31
Construction in progress	848		543
Property and equipment, at cost	4,474		3,703
Accumulated depreciation	(1,347)		(1,179)
Property, plant, and equipment, net	$	3,127	$	2,524

Other long-term assets

Other long-term assets consist of the following:


(Dollars in millions)	June 30, 2022		June 30, 2021
Operating lease right-of-use-assets	$	93	$	84
Note receivable	51		47

Pension assets	37		43
Corporate-owned life insurance policies	35		35

Venture capital investments	33		38
Interest rate swap	36		2
Long-term contract assets	43		—
Other	21		19
Total other long-term assets	$	349	$	268

Other accrued liabilities

Other accrued liabilities consist of the following:


(Dollars in millions)	June 30, 2022		June 30, 2021
Contract liability	$	185	$	305
Accrued employee-related expenses	198		184
Accrued expenses	140		170
Operating lease liabilities	14		16
Restructuring accrual	1		4

Accrued interest	32		27


Accrued income tax	50		30
Total other accrued liabilities	$	620	$	736