ACCOUNTING POLICIES (Tables)

9 Months Ended

Mar. 31, 2016

Adoption of New Standard Impact on Previously Reported Quarterly Results

Adoption of the new standard resulted in the recognition of excess tax benefits in our provision for income taxes rather than paid-in capital of $74 million and $376 million for the three and nine months ended March 31, 2016, respectively, and impacted our previously reported quarterly results for fiscal year 2016 as follows:

(In millions, except earnings per share)	Three Months Ended September 30, 2015						Three Months Ended December 31, 2015
	As reported			As adjusted			As reported			As adjusted
Income statements:
Provision for income taxes	$	893		$	611		$	857		$	837
Net income	$	4,620		$	4,902		$	4,998		$	5,018
Basic earnings per share	$	0.58		$	0.61		$	0.63		$	0.63
Diluted earnings per share	$	0.57		$	0.61		$	0.62		$	0.62
Diluted weighted average shares outstanding		8,066			8,084			8,028			8,051
Cash flows statements:
Net cash from operations	$	8,594		$	8,876		$	5,598		$	5,618
Net cash used in financing	$	(3,648	)	$	(3,930	)	$	(498	)	$	(518	)

(In millions)	September 30, 2015				December 31, 2015
	As reported		As adjusted		As reported		As adjusted
Balance sheets:
Common stock and paid-in capital	$	68,093	$	67,811	$	68,279	$	67,977
Retained earnings	$	7,614	$	7,896	$	6,728	$	7,030