STOCKHOLDERS' EQUITY

9 Months Ended

Mar. 31, 2017

STOCKHOLDERS' EQUITY

NOTE 16 — STOCKHOLDERS’ EQUITY

Share Repurchases

On September 16, 2013, our Board of Directors approved a share repurchase program authorizing up to $40.0 billion in share repurchases. This share repurchase program became effective on October 1, 2013, and was completed on December 22, 2016.

On September 20, 2016, our Board of Directors approved a share repurchase program authorizing up to an additional $40.0 billion in share repurchases. This share repurchase program commenced on December 22, 2016 following completion of the prior program approved on September 16, 2013, has no expiration date, and may be suspended or discontinued at any time without notice. As of March 31, 2017, $38.4 billion remained of this $40.0 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				2017						2016
First Quarter (a)		63		$	3,550			89		$	4,000
Second Quarter (a)		59			3,533			66			3,600
Third Quarter		25			1,600	(b)		69			3,600	(a)
Total		147		$	8,683			224		$	11,200

(a) Repurchased under the share repurchase program approved September 16, 2013.

(b) Repurchased under the share repurchase program approved September 20, 2016.

The above table excludes shares repurchased to settle statutory employee tax withholding related to the vesting of stock awards. All repurchases were made using cash resources.

Dividends

Our Board of Directors declared the following dividends:

Declaration Date	Dividend Per Share		Record Date		Total Amount		Payment Date
					(in millions)
Fiscal year 2017
September 20, 2016	$	0.39		November 17, 2016	$	3,024		December 8, 2016
November 30, 2016	$	0.39		February 16, 2017	$	3,012		March 9, 2017
March 14, 2017	$	0.39		May 18, 2017	$	3,012		June 8, 2017

Declaration Date	Dividend Per Share		Record Date		Total Amount		Payment Date
					(in millions)
Fiscal year 2016
September 15, 2015	$	0.36		November 19, 2015	$	2,868		December 10, 2015
December 2, 2015	$	0.36		February 18, 2016	$	2,842		March 10, 2016
March 15, 2016	$	0.36		May 19, 2016	$	2,821		June 9, 2016

The dividend declared on March 14, 2017 was included in other current liabilities as of March 31, 2017.