XML 61 R47.htm IDEA: XBRL DOCUMENT v3.23.2
STOCK-BASED COMPENSATION PLANS (Tables)
 12 Months Ended
Jun. 30, 2023
Share-Based Payment Arrangement, Noncash Expense [Abstract]  
Schedule of Compensation Cost and Related Income Tax Benefit Compensation cost and the related income tax benefit recognized for stock-based compensation plans were classified as indicated below for the fiscal years ended June 30:
202320222021
Cost of products sold$7 $6 $6 
Selling and administrative expenses61 42 40 
Research and development costs5 4 4 
Total compensation costs$73 $52 $50 
Related income tax benefit$17 $12 $12 
Assumptions Utilized in the Valuation in Calculating the Compensation Expense for Stock Options Granted The fair value of each stock option award granted during fiscal years 2023, 2022 and 2021 was estimated on the date of grant using the Black-Scholes valuation model and assumptions noted in the following table:
202320222021
Expected life5.3 years5.4 years
5.3 years to 5.4 years
Weighted-average expected life5.3 years5.4 years5.4 years
Expected volatility
24.2%
21.7% to 25.0%
21.4% to 23.2%
Weighted-average volatility24.2%21.8%21.9%
Risk-free interest rate
3.7%
0.9% to 2.1%
0.3% to 0.5%
Weighted-average risk-free interest rate3.7%0.9%0.3%
Dividend yield
3.4%
2.9% to 3.7%
2.1% to 2.3%
Weighted-average dividend yield3.4%2.9%2.1%
Summary of Stock Option Activity Details of the Company’s stock option activities are summarized below:
Number of
Shares
(In thousands)		Weighted-
Average
Exercise
Price
per Share		Average
Remaining
Contractual
Life		Aggregate
Intrinsic
Value
Options outstanding as of June 30, 20224,198 $144 5 years$49 
Granted564 141 
Exercised(515)105 
Canceled(172)164 
Options outstanding as of June 30, 20234,075 $147 5 years$69 
Options vested as of June 30, 20232,817 $142 4 years$59 
Summary of Restricted Stock Award Activity A summary of the status of the Company’s restricted stock awards is presented below:
Number of
Shares
(In thousands)		Weighted-Average
Grant Date
Fair Value
per Share
Restricted stock awards as of June 30, 2022412 $168 
Granted312 143 
Vested(128)171 
Forfeited(52)160 
Restricted stock awards as of June 30, 2023544 $155 
Summary of Performance Stock Award Activity A summary of the status of the Company’s performance share awards is presented below:
Number of
Shares
(In thousands)		Weighted-Average
Grant Date
Fair Value
per Share
Performance share awards as of June 30, 2022313 $162 
Granted156 $142 
Distributed(76)$137 
Forfeited(25)$167 
Performance share awards as of June 30, 2023368 $158 
Performance shares vested and deferred as of June 30, 202348 $128