EMPLOYEE STOCK AND SAVINGS PLANS (Tables)

12 Months Ended

Jun. 30, 2017

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,	2017		2016		2015
Stock-based compensation expense	$	3,266	$	2,668	$	2,574
Income tax benefits related to stock-based compensation		1,066		882		868

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,	2017		2016		2015
Dividends per share (quarterly amounts)	$	0.36 - $  0.39	$	0.31 - $  0.36	$	0.28 - $  0.31
Interest rates		1.2% - 2.2%		1.1% - 1.8%		1.2% - 1.9%

Stock Plan Activity

During fiscal year 2017, the following activity occurred under our stock plans:

Shares			Weighted Average Grant-Date Fair Value
(In millions)
Stock Awards
Nonvested balance, beginning of year	194		$	36.92
Granted (a)	84			55.64
Assumed in acquisitions (b)	23			59.09
Vested	(80	)		37.36
Forfeited	(20	)		43.71
Nonvested balance, end of year	201			46.32

(a) Includes 2 million PSUs granted during fiscal year 2017. During both fiscal year 2016 and 2015 we granted 1 million PSUs.

(b) Substantially all awards assumed were related to LinkedIn. See Note 9 – Business Combinations for further information.

Employee Purchased Shares

Employees purchased the following shares during the periods presented:

(Shares in millions)
Year Ended June 30,	2017		2016		2015
Shares purchased		13		15		16
Average price per share	$	56.36	$	44.83	$	39.87