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STOCK PROGRAMS (Tables) | 12 Months Ended
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Jun. 30, 2020
Share-based Payment Arrangement [Abstract] |
Schedule of stock-based compensation expense | Total net stock-based compensation expense is attributable to the granting of, and the remaining requisite service periods of stock options, RSUs, PSUs, long-term PSUs and share units. Compensation expense attributable to net stock-based compensation is as follows:
|  | Year Ended June 30 |  |  |  |
(In millions) |  | 2020 |  | 2019 |  | 2018
Compensation expense |  | $ | 213 |  |  | $ | 243 |  |  | $ | 236 |
Income tax benefit |  | $ | 41 |  |  | $ | 47 |  |  | $ | 49 |
Summary of stock option programs | The following is a summary of the Company’s stock option programs as of June 30, 2020 and changes during the fiscal year then ended:
(Shares in thousands) |  | Shares |  | Weighted- Average Exercise Price Per Share |  | Aggregate Intrinsic Value(1) (in millions) |  | Weighted-Average Contractual Life Remaining in Years
Outstanding at June 30, 2019 |  | 9,848.0 |  |  | $ | 87.68 |  |  |  |  |
Granted at fair value |  | 1,332.2 |  |  | 199.24 |  |  |  |  |
Exercised |  | (2,454.5) |  |  | 73.68 |  |  |  |  |
Expired |  | (13.8) |  |  | 99.14 |  |  |  |  |
Forfeited |  | (66.9) |  |  | 155.66 |  |  |  |  |
Outstanding at June 30, 2020 |  | 8,645.0 |  |  | 108.30 |  |  | $ | 709 |  |  | 6.0
Vested and expected to vest at June 30, 2020 |  | 8,595.9 |  |  | 107.86 |  |  | $ | 708 |  |  | 6.0
Exercisable at June 30, 2020 |  | 5,780.6 |  |  | 82.85 |  |  | $ | 612 |  |  | 4.9
(1)The intrinsic value of a stock option is the amount by which the market value of the underlying stock exceeds the exercise price of the option.
Summary of weighted-average grant date fair value and intrinsic value of stock options exercised | The following is a summary of the per-share weighted-average grant date fair value of stock options granted and total intrinsic value of stock options exercised:
|  | Year Ended June 30 |  |  |  |
(In millions, except per share data) |  | 2020 |  | 2019 |  | 2018
Per-share weighted-average grant date fair value of stock options granted |  | $ | 51.46 |  |  | $ | 38.62 |  |  | $ | 27.76 |
Intrinsic value of stock options exercised |  | $ | 309 |  |  | $ | 283 |  |  | $ | 246 |
Schedule of fair value option-pricing assumptions | The fair value of each option grant was estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions:
|  | Year Ended June 30 |  |  |  |
|  | 2020 |  | 2019 |  | 2018
Weighted-average expected stock-price volatility |  | 25.1% |  | 24.5% |  | 25.6%
Weighted-average expected option life |  | 7 years |  | 7 years |  | 7 years
Average risk-free interest rate |  | 1.5% |  | 2.8% |  | 2.0%
Average dividend yield |  | 1.0% |  | 1.1% |  | 1.5%
Summary of restricted stock units (RSUs) | The following is a summary of the status of the Company’s RSUs as of June 30, 2020 and activity during the fiscal year then ended:
(Shares in thousands) |  | Shares |  | Weighted-Average Grant Date Fair Value Per Share
Nonvested at June 30, 2019 |  | 2,441.9 |  |  | $ | 119.62 |
Granted |  | 834.5 |  |  | 199.25 |
Dividend equivalents |  | 13.7 |  |  | 178.63 |
Vested |  | (1,233.3) |  |  | 111.44 |
Forfeited |  | (108.5) |  |  | 145.42 |
Nonvested at June 30, 2020 |  | 1,948.3 |  |  | 157.89 |
Summary of performance share units (PSUs) | The following is a summary of the status of the Company’s PSUs as of June 30, 2020 and activity during the fiscal year then ended:
(Shares in thousands) |  | Shares |  | Weighted-Average Grant Date Fair Value Per Share
Nonvested at June 30, 2019 |  | 1,009.8 |  |  | 105.92 |
Granted |  | 198.5 |  |  | 187.10 |
Vested |  | (512.1) |  |  | 92.19 |
Forfeited |  | (1.1) |  |  | 132.73 |
Nonvested at June 30, 2020 |  | 695.1 |  |  | 139.17 |
Summary of status of share units | The following is a summary of the status of the Company’s share units as of June 30, 2020 and activity during the fiscal year then ended:
(Shares in thousands) |  | Shares |  | Weighted-Average Grant Date Fair Value Per Share
Outstanding at June 30, 2019 |  | 131.2 |  |  | $ | 57.22 |
Granted |  | 4.6 |  |  | 190.99 |
Dividend equivalents |  | 1.0 |  |  | 177.86 |
Outstanding at June 30, 2020 |  | 136.8 |  |  | 62.46 |

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- Definition Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for stock awards granted to nonemployee directors that were outstanding at the beginning and end of the year, and the number of awards that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (g) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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