STOCKHOLDERS' EQUITY

9 Months Ended

Mar. 31, 2023

Equity [Abstract]

STOCKHOLDERS' EQUITY

NOTE 15 — STOCKHOLDERS’ EQUITY

Share Repurchases

On September 18, 2019, our Board of Directors approved a share repurchase program authorizing up to $40.0 billion in share repurchases. This share repurchase program commenced in February 2020 and was completed in November 2021.

On September 14, 2021, our Board of Directors approved a share repurchase program authorizing up to $60.0 billion in share repurchases. This share repurchase program commenced in November 2021, following completion of the program approved on September 18, 2019, has no expiration date, and may be terminated at any time. As of March 31, 2023, $26.9 billion remained of this $60.0 billion share repurchase program.

We repurchased the following shares of common stock under the share repurchase programs:

(In millions)	Shares		Amount			Shares		Amount
Fiscal Year				2023					2022
First Quarter		17		$	4,600		21		$	6,200
Second Quarter		20			4,600		20			6,233
Third Quarter		18			4,600		26			7,800
Total		55		$	13,800		67		$	20,233

All repurchases were made using cash resources. Shares repurchased during fiscal year 2023 and the third quarter of fiscal year 2022 were under the share repurchase program approved on September 14, 2021. Shares repurchased during the second quarter of fiscal year 2022 were under the share repurchase programs approved on both September 14, 2021 and September 18, 2019. Shares repurchased during the first quarter of fiscal year 2022 were under the share repurchase program approved on September 18, 2019. The above table excludes shares repurchased to settle employee tax withholding related to the vesting of stock awards of $909 million and $2.7 billion for the three and nine months ended March 31, 2023, respectively, and $1.0 billion and $3.7 billion for the three and nine months ended March 31, 2022, respectively.

Dividends

Our Board of Directors declared the following dividends:

Declaration Date	Record Date	Payment Date		Dividend Per Share		Amount
Fiscal Year 2023						(In millions)
September 20, 2022	November 17, 2022	December 8, 2022	$	0.68	$	5,066
November 29, 2022	February 16, 2023	March 9, 2023		0.68		5,059
March 14, 2023	May 18, 2023	June 8, 2023		0.68		5,057
Total			$	2.04	$	15,182
Fiscal Year 2022
September 14, 2021	November 18, 2021	December 9, 2021	$	0.62	$	4,652
December 7, 2021	February 17, 2022	March 10, 2022		0.62		4,645
March 14, 2022	May 19, 2022	June 9, 2022		0.62		4,632
Total			$	1.86	$	13,929

The dividend declared on March 14, 2023 was included in other current liabilities as of March 31, 2023.