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STOCKHOLDERS' EQUITY

9 Months Ended

Mar. 31, 2020

Equity [Abstract]

STOCKHOLDERS' EQUITY

NOTE 14 — 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, 2020, $36.8 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						2020								2019
First Quarter			29			$	4,000				24			$	2,600
Second Quarter			32				4,600				57				6,100
Third Quarter			37				6,000				36				3,899
Total			98			$	14,600				117			$	12,599

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. All other shares repurchased 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 $2.6 billion for the three and nine months ended March 31, 2020, respectively, and $854 million and $2.3 billion for the three and nine months ended March 31, 2019, 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 2020													(In millions)
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				3,871
Total									$	1.53			$	11,633
Fiscal Year 2019
September 18, 2018		November 15, 2018			December 13, 2018				$	0.46			$	3,544
November 28, 2018		February 21, 2019			March 14, 2019					0.46				3,526
March 11, 2019		May 16, 2019			June 13, 2019					0.46				3,521
Total									$	1.38			$	10,591

The dividend declared on March 9, 2020 was included in other current liabilities as of March 31, 2020.

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- References

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- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI http://asc.fasb.org/topic&trid=2208762

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