STOCKHOLDERS' EQUITY

12 Months Ended

Jun. 30, 2024

Equity [Abstract]

STOCKHOLDERS' EQUITY

NOTE 16 — STOCKHOLDERS’ EQUITY

Shares Outstanding

Shares of common stock outstanding were as follows:

(In millions)
Year Ended June 30,	2024			2023			2022
Balance, beginning of year		7,432			7,464			7,519
Issued		34			37			40
Repurchased		(32	)		(69	)		(95	)
Balance, end of year		7,434			7,432			7,464

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 June 30, 2024, $10.3 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		Shares		Amount
Year Ended June 30,	2024				2023				2022
First Quarter		11	$	3,560		17	$	4,600		21	$	6,200
Second Quarter		7		2,800		20		4,600		20		6,233
Third Quarter		7		2,800		18		4,600		26		7,800
Fourth Quarter		7		2,800		14		4,600		28		7,800
Total		32	$	11,960		69	$	18,400		95	$	28,033

All repurchases were made using cash resources. Shares repurchased during the first quarter of fiscal year 2022 were under the share repurchase program approved on September 18, 2019. Shares repurchased during the second quarter of fiscal year 2022 were under the share repurchase programs approved on September 18, 2019 and September 14, 2021. All other shares repurchased were under the share repurchase program approved on September 14, 2021. The above table excludes shares repurchased to settle employee tax withholding related to the vesting of stock awards of $5.3 billion, $3.8 billion, and $4.7 billion for fiscal years 2024, 2023, and 2022, respectively.

Dividends

Our Board of Directors declared the following dividends:

Declaration Date	Record Date		Payment Date		Dividend Per Share			Amount
Fiscal Year 2024								(In millions)
September 19, 2023		November 16, 2023		December 14, 2023		$	0.75	$	5,574
November 28, 2023		February 15, 2024		March 14, 2024			0.75		5,573
March 12, 2024		May 16, 2024		June 13, 2024			0.75		5,574
June 12, 2024		August 15, 2024		September 12, 2024			0.75		5,575
Total						$	3.00	$	22,296
Fiscal Year 2023
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		5,054
June 13, 2023		August 17, 2023		September 14, 2023			0.68		5,051
Total						$	2.72	$	20,230

The dividend declared on June 12, 2024 was included in other current liabilities as of June 30, 2024.