STOCKHOLDERS' EQUITY

9 Months Ended

Mar. 31, 2021

Equity [Abstract]

STOCKHOLDERS' EQUITY

NOTE 15 — STOCKHOLDERS’ EQUITY

Share Repurchases

On September 20, 2016, our Board of Directors approved a share repurchase program authorizing up to $40.0 billion in share repurchases. This share repurchase program commenced in December 2016 and was completed in February 2020.

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, following completion of the program approved on September 20, 2016, has no expiration date, and may be terminated at any time. As of March 31, 2021, $14.9 billion remained of this $40.0 billion share repurchase program.

We repurchased the following shares of common stock under the share repurchase program:

(In millions)	Shares		Amount			Shares		Amount
Fiscal Year				2021					2020
First Quarter		25		$	5,270		29		$	4,000
Second Quarter		27			5,750		32			4,600
Third Quarter		25			5,750		37			6,000
Total		77		$	16,770		98		$	14,600

Shares repurchased during fiscal year 2021 were under the share repurchase program approved on September 18, 2019. Shares repurchased during the third quarter of fiscal year 2020 were under the share repurchase programs approved on both September 20, 2016 and September 18, 2019. Shares repurchased during the first and second quarters of fiscal year 2020 were under the share repurchase program approved on September 20, 2016. The above table excludes shares repurchased to settle employee tax withholding related to the vesting of stock awards of $1.1 billion and $3.4 billion for the three and nine months ended March 31, 2021, respectively, and $1.1 billion and $2.6 billion for the three and nine months ended March 31, 2020, respectively. All repurchases were made using cash resources.

Dividends

Our Board of Directors declared the following dividends:

Declaration Date	Record Date	Payment Date	Dividend Per Share		Amount
Fiscal Year 2021					(In millions)
September 15, 2020	November 19, 2020	December 10, 2020	$	0.56	$	4,230
December 2, 2020	February 18, 2021	March 11, 2021		0.56		4,221
March 16, 2021	May 20, 2021	June 10, 2021		0.56		4,219
Total			$	1.68	$	12,670
Fiscal Year 2020
September 18, 2019	November 21, 2019	December 12, 2019	$	0.51	$	3,886
December 4, 2019	February 20, 2020	March 12, 2020		0.51		3,876
March 9, 2020	May 21, 2020	June 11, 2020		0.51		3,865
Total			$	1.53	$	11,627

The dividend declared on March 16, 2021 was included in other current liabilities as of March 31, 2021.