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STOCKHOLDERS' EQUITY | 12 Months Ended
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Jun. 30, 2022
Equity [Abstract] |
STOCKHOLDERS' EQUITY | NOTE 16 — STOCKHOLDERS’ EQUITY Shares Outstanding Shares of common stock outstanding were as follows:
(In millions) |  |  |  |  |  |  |  |  |
Year Ended June 30, |  | 2022 |  |  | 2021 |  |  | 2020 |
Balance, beginning of year |  |  | 7,519 |  |  |  | 7,571 |  |  |  | 7,643 |
Issued |  |  | 40 |  |  |  | 49 |  |  |  | 54 |
Repurchased |  |  | (95 | ) |  |  | (101 | ) |  |  | (126 | )
Balance, end of year |  |  | 7,464 |  |  |  | 7,519 |  |  |  | 7,571 |
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 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 June 30, 2022, $40.7 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 |  |  | Shares |  |  | Amount |
Year Ended June 30, |  | 2022 |  |  | 2021 |  |  | 2020 |
First Quarter |  |  | 21 |  |  | $ | 6,200 |  |  |  | 25 |  |  | $ | 5,270 |  |  |  | 29 |  |  | $ | 4,000 |
Second Quarter |  |  | 20 |  |  |  | 6,233 |  |  |  | 27 |  |  |  | 5,750 |  |  |  | 32 |  |  |  | 4,600 |
Third Quarter |  |  | 26 |  |  |  | 7,800 |  |  |  | 25 |  |  |  | 5,750 |  |  |  | 37 |  |  |  | 6,000 |
Fourth Quarter |  |  | 28 |  |  |  | 7,800 |  |  |  | 24 |  |  |  | 6,200 |  |  |  | 28 |  |  |  | 5,088 |
Total |  |  | 95 |  |  | $ | 28,033 |  |  |  | 101 |  |  | $ | 22,970 |  |  |  | 126 |  |  | $ | 19,688 |
All repurchases were made using cash resources. Shares repurchased during the fourth and third quarters 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. Shares repurchased during the first quarter of fiscal year 2022, fiscal year 2021, and the fourth quarter of fiscal year 2020 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. 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 $4.7 billion, $4.4 billion, and $3.3 billion for fiscal years 2022, 2021, and 2020, 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 |  |  |  | 4,632 |
June 14, 2022 |  |  | August 18, 2022 |  |  |  | September 8, 2022 |  |  |  | 0.62 |  |  |  | 4,627 |
Total |  |  |  |  |  |  |  |  |  | $ | 2.48 |  |  | $ | 18,556 |
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 |
June 16, 2021 |  |  | August 19, 2021 |  |  |  | September 9, 2021 |  |  |  | 0.56 |  |  |  | 4,206 |
Total |  |  |  |  |  |  |  |  |  | $ | 2.24 |  |  | $ | 16,871 |
The dividend declared on June 14, 2022 was included in other current liabilities as of June 30, 2022.

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