v3.22.2.2
Supplemental Balance Sheet Information (Tables)
 12 Months Ended
Jun. 30, 2022
Balance Sheet Related Disclosures [Abstract]  
Work-in-Process and Finished Goods Inventories Include Raw Materials, Labor and Overhead Work-in-process and inventories include raw materials, labor, and overhead. Total inventories consist of the following:
(Dollars in millions)June 30,
2022		June 30,
2021
Raw materials and supplies$651 $469 
Work-in-process109 151 
Total inventories, gross760 620 
Inventory cost adjustment(58)(57)
Total inventories$702 $563 
Prepaid and Other Assets 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 assets398 181 
Spare parts supplies22 30 
Prepaid income tax26 22 
Non-U.S. value-added tax48 50 
Other current assets70 47 
Total prepaid expenses and other$625 $376 
Property and Equipment 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 equipment1,891 1,558 
Furniture and fixtures48 31 
Construction in progress848 543 
Property and equipment, at cost4,474 3,703 
Accumulated depreciation(1,347)(1,179)
Property, plant, and equipment, net$3,127 $2,524 
Other Assets Non Current 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 receivable51 47 
Pension assets37 43 
Corporate-owned life insurance policies35 35 
Venture capital investments33 38 
Interest rate swap36 2 
Long-term contract assets 43 — 
Other21 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 expenses198 184 
Accrued expenses140 170 
Operating lease liabilities14 16 
Restructuring accrual1 4 
Accrued interest32 27 
Accrued income tax50 30 
Total other accrued liabilities$620 $736