STOCK PROGRAMS |
3 Months Ended |
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Sep. 30, 2026 | |
| Share-Based Payment Arrangement [Abstract] | |
| STOCK PROGRAMS | STOCK PROGRAMS Additional information relating to the Company's stock programs are included in Notes to Consolidated Financial Statements, Note 18 - Stock Programs in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2026. Total net stock-based compensation expense is attributable to the granting of, and the remaining requisite service periods of stock options, restricted stock units (“RSUs”) and performance share units (“PSUs”). Compensation expense attributable to net stock-based compensation was $70 million and $88 million for the three months ended September 30, 2026 and 2025, respectively. Stock Options During the three months ended September 30, 2026, the Company granted stock options in respect of approximately 0.7 million shares of Class A Common Stock with a weighted average exercise price per share of $106.21 and a weighted average grant date fair value per share of $42.99. The fair value of each option grant was estimated on the date of grant using the Black-Scholes option-pricing model. Restricted Stock Units During the three months ended September 30, 2026, the Company granted RSUs in respect of approximately 2.3 million shares of Class A Common Stock with a weighted average grant date fair value per share of $106.06 that, at the time of grant, are scheduled to vest at 0.9 million, 0.8 million, and 0.6 million shares per year, in fiscal 2028, fiscal 2029 and fiscal 2030, respectively. Vesting of RSUs is generally subject to the continued employment or the retirement of the grantees. The RSUs are generally accompanied by dividend equivalent rights, payable upon settlement of the RSUs either in cash or shares (based on the terms of the particular award) and, as such, were generally valued at the closing market price of the Company’s Class A Common Stock on the date of grant. Performance Share Units During the three months ended September 30, 2026, the Company granted PSUs with a target payout of approximately 0.2 million shares of Class A Common Stock with a grant date fair value per share of $106.21, the amount of which will be settled in stock subject to the achievement of the Company’s net sales goals for the three fiscal years ending June 30, 2029 and operating income margin goal for the fiscal year ending June 30, 2029, all subject to continued employment or the retirement of the grantees. PSUs are accompanied by dividend equivalent rights that will be payable in cash upon settlement of the PSUs and, as such, were valued at the closing market value of the Company’s Class A Common Stock on the date of grant. For the PSUs granted in fiscal 2024 with a performance period ended June 30, 2026, the target goals set at the time of issuance were not achieved, resulting in no shares of the Company’s Class A Common Stock issued related to these awards.
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