EMPLOYEE STOCK AND SAVINGS PLANS (Tables)

12 Months Ended

Jun. 30, 2023

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation Expense and Related Income Tax Benefits

Stock-based compensation expense and related income tax benefits were as follows:

(In millions)
Year Ended June 30,	2023		2022		2021
Stock-based compensation expense	$	9,611	$	7,502	$	6,118
Income tax benefits related to stock-based compensation		1,651		1,293		1,065

Assumptions Used in Estimating the Fair Value of Stock Award Grants

The fair value of stock awards was estimated on the date of grant using the following assumptions:

Year ended June 30,			2023			2022			2021
Dividends per share (quarterly amounts)	$	0.62 – 0.68		$	0.56 – 0.62		$	0.51 – 0.56
Interest rates		2.0% – 5.4%			0.03% – 3.6%			0.01% – 1.5%

Stock Plan Activity

During fiscal year 2023, the following activity occurred under our stock plans:

Shares			Weighted Average Grant-Date Fair Value
(In millions)
Stock Awards
Nonvested balance, beginning of year	93		$	227.59
Granted (a)	56			252.59
Vested	(44	)		206.90
Forfeited	(9	)		239.93
Nonvested balance, end of year	96		$	250.37

(a)Includes 1 million, 1 million, and 2 million of PSUs granted at target and performance adjustments above target levels for fiscal years 2023, 2022, and 2021, respectively.

Employee Purchased Shares

Employees purchased the following shares during the periods presented:

(Shares in millions)
Year Ended June 30,	2023		2022		2021
Shares purchased		7		7		8
Average price per share	$	245.59	$	259.55	$	207.88