Earnings Per Share

12 Months Ended

Jun. 30, 2025

Basic earnings per share are computed using the weighted-average number of common shares outstanding during the year. Diluted earnings per share are computed using the weighted-average number of common shares and common share equivalents outstanding during the year. Common share equivalents represent the dilutive effect of outstanding equity-based awards. The reconciliation of the numerator and denominator of basic and diluted earnings per share was as follows (shares in millions):


	2025		2024		2023
Numerator:
Net income attributable to common shareholders	$	3,531	$	2,844	$	2,083
Denominator:
Basic - weighted-average common shares	128.3		128.5		128.4
Dilutive effect of equity-based awards	1.9		1.7		1.5
Diluted - weighted-average common shares	130.2		130.2		129.9
Basic earnings per share(1)	$	27.52	$	22.13	$	16.23
Diluted earnings per share(1)	$	27.12	$	21.84	$	16.04

(1) Figures in the table may not recalculate exactly due to rounding. Earnings per share is calculated using unrounded numbers.

For 2025, 2024 and 2023, 0.3 million, 0.4 million and 1.0 million common shares, respectively, subject to equity-based awards were excluded from the computation of diluted earnings per share because the effect of their exercise would be anti-dilutive.