STOCKHOLDERS' EQUITY

9 Months Ended

Mar. 31, 2022

Equity [Abstract]

STOCKHOLDERS' EQUITY

NOTE 15 — STOCKHOLDERS’ EQUITY

Share Repurchases

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 and was completed in November 2021.

On September 14, 2021, our Board of Directors approved a share repurchase program authorizing up to $60.0 billion in share repurchases. This share repurchase program commenced in November 2021, following completion of the program approved on September 18, 2019, has no expiration date, and may be terminated at any time. As of March 31, 2022, $48.5 billion remained of this $60.0 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				2022					2021
First Quarter		21		$	6,200		25		$	5,270
Second Quarter		20			6,233		27			5,750
Third Quarter		26			7,800		25			5,750
Total		67		$	20,233		77		$	16,770

All repurchases were made using cash resources. Shares repurchased during the third quarter of fiscal year 2022 were under the share repurchase program approved on September 14, 2021. Shares repurchased during the second quarter of fiscal year 2022 were under the share repurchase programs approved on both September 14, 2021 and September 18, 2019. All other shares repurchased were under the share repurchase program approved on September 18, 2019. The above table excludes shares repurchased to settle employee tax withholding related to the vesting of stock awards of $1.0 billion and $3.7 billion for the three and nine months ended March 31, 2022, respectively, and $1.1 billion and $3.4 billion the three and nine months ended March 31, 2021, respectively.

Dividends

Our Board of Directors declared the following dividends:

Declaration Date	Record Date	Payment Date		Dividend Per Share		Amount
Fiscal Year 2022						(In millions)
September 14, 2021	November 18, 2021	December 9, 2021	$	0.62	$	4,652
December 7, 2021	February 17, 2022	March 10, 2022		0.62		4,645
March 14, 2022	May 19, 2022	June 9, 2022		0.62		4,639
Total			$	1.86	$	13,936
Fiscal Year 2021
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		4,214
Total			$	1.68	$	12,665

The dividend declared on March 14, 2022 was included in other current liabilities as of March 31, 2022.