EARNINGS PER SHARE (Tables)

12 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

Net earnings per share were calculated as follows:

Years ended June 30	2022		2021		2020
CONSOLIDATED AMOUNTS
Net earnings	$	14,793	$	14,352	$	13,103
Less: Net earnings attributable to noncontrolling interests	51		46		76
Net earnings attributable to P&G	14,742		14,306		13,027
Less: Preferred dividends	281		271		263
Net earnings attributable to P&G available to common shareholders (Basic)	$	14,461	$	14,035	$	12,764
Net earnings attributable to P&G available to common shareholders (Diluted)	$	14,742	$	14,306	$	13,027
SHARES IN MILLIONS
Basic weighted average common shares outstanding	2,410.3		2,465.8		2,487.1
Add effect of dilutive securities:
Stock options and other unvested equity awards (1)	49.5		52.5		52.7
Convertible preferred shares (2)	79.3		82.7		86.0
Diluted weighted average common shares outstanding	2,539.1		2,601.0		2,625.8
NET EARNINGS PER SHARE (3)
Basic	$	6.00	$	5.69	$	5.13
Diluted	$	5.81	$	5.50	$	4.96

(1)Excludes 11 million, 9 million and 6 million in 2022, 2021 and 2020, respectively, of weighted average stock options outstanding because the exercise price of these options was greater than the average market value of the Company's stock or their effect was antidilutive.

(2)An overview of preferred shares can be found in Note 8.

(3)Net earnings per share are calculated on Net earnings attributable to Procter & Gamble.