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STOCK-BASED COMPENSATION (Tables)
3 Months Ended
Sep. 30, 2013
STOCK-BASED COMPENSATION  
Schedule of stock-based compensation expense and related income tax benefits

 

 

 

 

Three Months Ended
September 30

 

(In millions)

 

2013

 

2012

 

 

 

 

 

 

 

Compensation expense

 

$

56.3

 

$

54.5

 

Income tax benefit

 

18.3

 

17.6

 

Summary of stock option programs and changes

 

 

(Shares in thousands)

 

Shares

 

Weighted-
Average
Exercise
Price Per
Share

 

Aggregate

Intrinsic

Value (1)
(in millions)

 

Weighted-
 Average
Contractual Life
Remaining in
Years

 

 

 

 

 

 

 

 

 

 

 

Outstanding at June 30, 2013

 

15,071.4

 

$

36.60

 

 

 

 

 

Granted at fair value

 

1,805.6

 

67.31

 

 

 

 

 

Exercised

 

(298.5

)

27.15

 

 

 

 

 

Expired

 

(4.5

)

24.35

 

 

 

 

 

Forfeited

 

(37.5

)

50.25

 

 

 

 

 

Outstanding at September 30, 2013

 

16,536.5

 

40.09

 

$

492.9

 

7.1

 

 

 

 

 

 

 

 

 

 

 

Vested and expected to vest at September 30, 2013

 

16,346.0

 

39.85

 

$

491.3

 

7.0

 

 

 

 

 

 

 

 

 

 

 

Exercisable at September 30, 2013

 

8,286.2

 

26.77

 

$

357.4

 

5.7

 

 

(1)    The intrinsic value of a stock option is the amount by which the market value of the underlying stock exceeds the exercise price of the option.

Summary of the per-share weighted-average grant date fair value of stock options granted and total intrinsic value of stock options exercised

 

 

 

 

Three Months Ended
September 30

 

(In millions, except per share data)

 

2013

 

2012

 

Per-share weighted-average grant date fair value of stock options granted

 

$

23.03

 

$

20.36

 

 

 

 

 

 

 

Intrinsic value of stock options exercised

 

$

10.8

 

$

27.3

 

Schedule of fair value option pricing assumptions

 

 

 

 

Three Months Ended
September 30

 

 

 

2013

 

2012

 

 

 

 

 

 

 

Weighted-average expected stock-price volatility

 

33%

 

34%

 

Weighted-average expected option life

 

7 years

 

8 years

 

Average risk-free interest rate

 

2.5%

 

1.2%

 

Average dividend yield

 

1.1%

 

1.0%

 

Summary of the status of Performance Share Units, (PSUs) and activity

 

 

 

 

 

 

Weighted-Average

 

 

 

 

 

Grant Date

 

(Shares in thousands)

 

Shares

 

Fair Value Per
Share

 

 

 

 

 

 

 

Nonvested at June 30, 2013

 

510.9

 

$

53.73

 

Granted

 

284.4

 

67.31

 

Vested

 

 

 

Forfeited

 

 

 

Nonvested at September 30, 2013

 

795.3

 

58.59

 

Summary of the status of Restricted Stock Units (RSUs) and activity

 

 

 

 

 

 

Weighted-Average

 

 

 

 

 

Grant Date

 

(Shares in thousands)

 

Shares

 

Fair Value Per
Share

 

 

 

 

 

 

 

Nonvested at June 30, 2013

 

2,222.8

 

$

52.68

 

Granted

 

1,281.0

 

65.97

 

Vested

 

 

 

Forfeited

 

(23.1

)

55.27

 

Nonvested at September 30, 2013

 

3,480.7

 

57.55

 

Summary of the status of share units and activity under the Non-Employee Director Share Incentive Plan

 

 

 

 

 

 

Weighted-Average

 

 

 

 

 

Grant Date

 

(Shares in thousands)

 

Shares

 

Fair Value Per
Share

 

 

 

 

 

 

 

Outstanding at June 30, 2013

 

87.3

 

$

33.27

 

Granted

 

 

 

Dividend equivalents

 

0.2

 

71.11

 

Converted

 

 

 

Outstanding at September 30, 2013

 

87.5

 

33.36