Acquisition/disposal loss

  
  
    The following table provides information as to how the funded status is recognized in the consolidated balance sheets:

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| ($ in millions) |  | June 30, 2022 |  | June 30, 2021 |
| Non-current assets - Employee benefit assets |  | $ | 89  |  |  | $ | 52  |  |
| Current liabilities - Other current liabilities |  | (7) |  |  | (8) |  |
| Non-current liabilities - Employee benefit obligations |  | (201) |  |  | (307) |  |
| Funded status |  | $ | (119) |  |  | $ | (263) |  |

        Amounts recognized in other comprehensive (income)/loss for the fiscal years ended are as follows:

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | Years ended June 30,  |
| ($ in millions) |  | 2022 |  | 2021 |  | 2020 |
| Changes in plan assets and benefit obligations recognized in other comprehensive (income)/loss: |  |  |  |  |  |  |
| Net actuarial loss/(gain) occurring during the year |  | $ | (91) |  |  | $ | (58) |  |  | $ | 41  |  |
| Net prior service loss/(gain) occurring during the year |  | 1  |  |  | (16) |  |  | —  |  |
| Amortization of actuarial loss |  | (5) |  |  | (8) |  |  | (6) |  |
| Gain recognized due to settlement/curtailment |  | (8) |  |  | (2) |  |  | (6) |  |
| Amortization of prior service credit |  | 3  |  |  | 2  |  |  | 2  |  |
| Acquisition/disposal loss |  | (1) |  |  | —  |  |  | —  |  |
| Foreign currency translation |  | (14) |  |  | 16  |  |  | (3) |  |
| Tax effect |  | 21  |  |  | 14  |  |  | (12) |  |
| Total recognized in other comprehensive (income)/loss |  | $ | (94) |  |  | $ | (52) |  |  | $ | 16  |  |

    Amounts in AOCI that have not yet been recognized as net periodic benefit cost, as of fiscal year-ends, are as follows:

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | June 30,  |
| ($ in millions) |  | 2022 |  | 2021 |  | 2020 |
| Net prior service credit |  | $ | (15) |  |  | $ | (20) |  |  | $ | (6) |  |
| Net actuarial loss |  | 65  |  |  | 185  |  |  | 237  |  |
| Accumulated other comprehensive loss at the end of the year |  | $ | 50  |  |  | $ | 165  |  |  | $ | 231  |  |

        Weighted-average assumptions used to determine benefit obligations at fiscal year-end were:

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | June 30,  |
|  |  | 2022 |  | 2021 |  | 2020 |
| Discount rate |  | 3.8  | % |  | 2.1  | % |  | 2.0  | % |
| Rate of compensation increase |  | 2.3  | % |  | 1.7  | % |  | 1.9  | % |

        Weighted-average assumptions used to determine net periodic benefit cost for the fiscal years ended were:

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | June 30,  |
|  |  | 2022 |  | 2021 |  | 2020 |
| Discount rate |  | 2.1  | % |  | 2.0  | % |  | 2.5  | % |
| Rate of compensation increase |  | 1.7  | % |  | 1.9  | % |  | 2.1  | % |
| Expected long-term rate of return on plan assets |  | 3.8  | % |  | 3.5  | % |  | 4.5  | % |

  
    Where funded, the Company and, in some countries, the employees make cash contributions into the pension fund. In the case of unfunded plans, the Company is responsible for benefit payments as they fall due. Plan funding requirements are generally determined by local regulation and/or best practice and differ between countries. The local statutory funding positions are not necessarily consistent with the funded status disclosed on the consolidated balance sheets. For any funded plans in deficit (as measured under local country guidelines), the Company agrees with the trustees and plan fiduciaries to undertake suitable funding programs to provide additional contributions over time in accordance with local country requirements. 79
