STOCK PROGRAMS (Tables)
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12 Months Ended |
Jun. 30, 2026 |
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| Share-Based Payment Arrangement [Abstract] |
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| 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) | | 2026 | | 2025 | | 2024 | Compensation expense(1) | | $ | 310 | | | $ | 304 | | | $ | 325 | | | Income tax benefit | | $ | 57 | | | $ | 58 | | | $ | 58 | | | | | | | | |
(1)Excludes compensation expense relating to liability-classified awards.
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| Summary of stock option programs |
The following is a summary of the status of the Company’s stock options as of June 30, 2026 and activity 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, 2025 | | 8,686.5 | | | $ | 175.21 | | | | | | | Granted at fair value | | 1,210.3 | | | 92.18 | | | | | | | Exercised | | (651.8) | | | 80.60 | | | | | | | Expired | | (522.5) | | | 199.55 | | | | | | | Forfeited | | (75.8) | | | 126.28 | | | | | | Outstanding at June 30, 2026 | | 8,646.7 | | | 169.68 | | | $ | 1 | | | 5.0 | | | | | | | | | | Vested and expected to vest at June 30, 2026 | | 8,621.0 | | | 169.87 | | | $ | 1 | | | 5.0 | | | | | | | | | | Exercisable at June 30, 2026 | | 7,057.3 | | | 183.89 | | | $ | 1 | | | 4.0 | | | | | | | | | |
(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.
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| 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) | | 2026 | | 2025 | | 2024 | | Per-share weighted-average grant date fair value of stock options granted | | $ | 35.07 | | | $ | 29.24 | | | $ | 52.83 | | | | | | | | | | Intrinsic value of stock options exercised | | $ | 8 | | | $ | 3 | | | $ | 31 | |
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| Schedule of fair value option-pricing assumptions |
The fair value of each of the Company's option grants were estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions: | | | | | | | | | | | | | | | | | | | | | | | Year Ended June 30, | | | 2026 | | 2025 | | 2024 | | Weighted-average expected stock-price volatility | | 40.9% | | 37.5% | | 33.8% | | Weighted-average expected option life | | 6 years | | 6 years | | 6 years | | Average risk-free interest rate | | 3.8% | | 3.6% | | 4.3% | | Average dividend yield | | 1.7% | | 2.4% | | 1.5% |
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| Summary of restricted stock units (RSUs) |
The following is a summary of the status of the Company’s RSUs as of June 30, 2026 and activity during the fiscal year then ended: | | | | | | | | | | | | | | | | (Shares in thousands) | | Shares | | Weighted-Average
Grant Date
Fair Value Per Share | Nonvested at June 30, 2025 | | 4,301.8 | | | $ | 115.31 | | | Granted | | 3,594.3 | | | 91.59 | | | Dividend equivalents | | 79.8 | | | 99.23 | | Vested(1) | | (1,921.1) | | | 132.99 | | | Forfeited | | (594.5) | | | 95.67 | | Nonvested at June 30, 2026 | | 5,460.3 | | | 95.38 | |
1) The total fair value of RSUs vested during fiscal 2026, 2025 and 2024 was $184 million, $78 million, and $92 million, respectively.
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| Summary of performance share units (PSUs) |
The following is a summary of the status of the Company’s PSUs as of June 30, 2026 and activity during the fiscal year then ended: | | | | | | | | | | | | | | | | (Shares in thousands) | | Shares | | Weighted-Average
Grant Date
Fair Value Per Share | Nonvested at June 30, 2025 | | 621.3 | | | $ | 139.87 | | | Granted | | — | | | — | | Vested and issued(1) | | (14.5) | | | 344.06 | | | Forfeited | | (109.6) | | | 241.92 | | Nonvested at June 30, 2026 | | 497.2 | | | 111.42 | | | | | | |
(1) The total fair value of PSUs vested and issued during fiscal 2026 and 2024 was $1 million and $7 million, respectively. No PSUs vested and were issued during fiscal 2025.
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| Schedule of long-term price vested units |
The number of shares subject to each tranche of the price-vested unit award, as well as the stock price goals, service periods, performance periods and share delivery dates for each tranche are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Number of Shares per Tranche | | Stock Price Goal (per Share) | | Service Period | | Performance Period for Stock Price Goal | | Performance Period for Cumulative Operating Income Goal | | Share Delivery Date | | First tranche | | 27,457 | | | $ | 323.03 | | | March 11, 2021 - June 30, 2024 | | March 11, 2021 - June 30, 2024 | | July 1, 2021 - June 30, 2025 | | September 2, 2025 | | Second tranche | | 28,598 | | | $ | 333.21 | | | March 11, 2021 - June 30, 2024 | | March 11, 2021 - June 30, 2024 | | July 1, 2021 - June 30, 2025 | | September 2, 2025 | | Third tranche | | 29,872 | | | $ | 343.61 | | | March 11, 2021 - June 30, 2024 | | March 11, 2021 - June 30, 2024 | | July 1, 2021 - June 30, 2025 | | September 2, 2025 | | Total shares | | 85,927 | | | | | | | | | | | |
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| Schedule of assumptions used for Long-term Price-Vested Units |
The significant assumptions used for this award were as follows: | | | | | | | | | | Expected volatility | | 31.8 | % | | Dividend yield | | 0.8 | % | | Risk-free interest rate | | 0.4 | % | | Expected term | | 3.3 years |
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| Summary of status of share units |
The following is a summary of the status of the Company’s share units as of June 30, 2026 and activity during the fiscal year then ended: | | | | | | | | | | | | | | | | (Shares in thousands) | | Shares | | Weighted-Average
Grant Date
Fair Value Per Share | | Outstanding at June 30, 2025 | | 106.9 | | | $ | 90.15 | | | Granted | | 12.2 | | | 95.75 | | | Dividend equivalents | | 1.6 | | | 92.22 | | Converted (1) | | (26.6) | | | 79.60 | | | Outstanding at June 30, 2026 | | 94.1 | | | 93.88 | |
(1) The total intrinsic value of share units converted during fiscal 2026, 2025 and 2024 was $3 million, $2 million, and $2 million, respectively.
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