v3.25.2
EMPLOYEE STOCK AND SAVINGS PLANS (Tables)
12 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Expense and Related Income Tax Benefits

Stock-based compensation expense and related income tax benefits were as follows:

 

(In millions)

 

 

 

 

 

Year Ended June 30,

2025

2024

2023

 

 

 

Stock-based compensation expense

$

11,974

$

10,734

$

9,611

Income tax benefits related to stock-based compensation

 

2,027

 

1,826

 

1,651

 

 

Assumptions Used in Estimating the Fair Value of Stock Award Grants

The fair value of stock awards was estimated on the date of grant using the following assumptions:

 

 

 

 

 

 

 

Year Ended June 30,

 

 

 

 

2025

 

 

 

 

2024

 

 

 

 

2023

 

 

 

 

 

Dividends per share (quarterly amounts)

$

0.75 – 0.83

$

0.68 – 0.75

$

0.62 – 0.68

Interest rates

3.4% – 5.5%

3.8% – 5.6%

2.0% – 5.4%

 

 

Stock Plan Activity

During fiscal year 2025, the following activity occurred under our stock plans:

 

Shares

Weighted Average

Grant-Date Fair

Value

 

 

(In millions)

Stock Awards

 

 

Nonvested balance, beginning of year

 

 

88

 

$

292.28

 

Granted (a)

39

413.90

Vested

(38

)

293.25

Forfeited

(7

)

317.23

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nonvested balance, end of year

82

$

347.44

 

 

 

 

(a)
Includes 1 million of PSUs granted at target and performance adjustments above target levels for each of the fiscal years 2025, 2024, and 2023.
Employee Purchased Shares

Employees purchased the following shares during the periods presented:

(Shares in millions)

 

 

 

 

 

Year Ended June 30,

2025

2024

2023

 

 

 

Shares purchased

6

6

7

Average price per share

$

385.10

$

339.46

$

245.59