QUARTERLY INFORMATION (UNAUDITED)

12 Months Ended

Jun. 30, 2020

Quarterly Financial Information Disclosure [Abstract]

NOTE 20 — QUARTERLY INFORMATION (UNAUDITED)

(In millions, except per share amounts)


Quarter Ended	September 30		December 31		March 31		June 30		Total

Fiscal Year 2020

Revenue	$	33,055	$	36,906	$	35,021	$	38,033	$	143,015
Gross margin		22,649		24,548		24,046		25,694		96,937
Operating income		12,686		13,891		12,975		13,407		52,959
Net income		10,678		11,649		10,752		11,202		44,281
Basic earnings per share		1.40		1.53		1.41		1.48		5.82
Diluted earnings per share		1.38		1.51		1.40		1.46		5.76

Fiscal Year 2019

Revenue		29,084		32,471		30,571		33,717		125,843
Gross margin		19,179		20,048		20,401		23,305		82,933
Operating income		9,955		10,258		10,341		12,405		42,959
Net income ^(a)		8,824		8,420		8,809		13,187		39,240
Basic earnings per share		1.15		1.09		1.15		1.72		5.11
Diluted earnings per share ^(b)		1.14		1.08		1.14		1.71		5.06

(a)

Reflects the $157 million net charge related to the enactment of the TCJA for the second quarter and the $2.6 billion net income tax benefit related to the intangible property transfers for the fourth quarter, which together increased net income by $2.4 billion for fiscal year 2019. See Note 12 – Income Taxes for further information.

(b)	Reflects the net charge related to the enactment of the TCJA and the net income tax benefit related to the intangible property transfers, which decreased (increased) diluted EPS $0.02 for the second quarter, $(0.34) for the fourth quarter, and $(0.31) for fiscal year 2019.