v3.20.2
EMPLOYEE STOCK AND SAVINGS PLANS (Tables)
 12 Months Ended
Jun. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [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,

 

2020

 

 

2019

 

 

2018

 

 

 

 

 

Stock-based compensation expense

 

$

5,289

 

 

$

4,652

 

 

$

  3,940

 

Income tax benefits related to stock-based compensation

 

 

938

 

 

 

816

 

 

 

823

 

 

 
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,

 

 

 

 

  2020

 

 

 

 

 

  2019

 

 

 

 

 

  2018

 

 

 

 

 

 

 

Dividends per share (quarterly amounts)

 

$

0.46

–

0.51

 

 

$

0.42

–

0.46

 

 

$

0.39

–

0.42

 

Interest rates

 

 

0.1%

–

2.2%

 

 

 

1.8%

–

3.1%

 

 

 

1.7%

–

2.9%

 

 

 

 

 

 

 

 

 

 
Stock Plan Activity

During fiscal year 2020, the following activity occurred under our stock plans:

 

Shares

 

 

Weighted

Average

Grant-Date

Fair Value

 

 

 

 

 

(In millions)

 

 

 

 

 

Stock Awards

  

 

 

 

Nonvested balance, beginning of year

 

 

147

 

 

 $

78.49

 

Granted (a)

 

 

53

 

 

 

140.49

 

Vested

 

 

(65

) 

 

 

75.35

 

Forfeited

 

 

(9

) 

 

 

90.30

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nonvested balance, end of year

 

 

126

 

 

 $

105.23

 

 

 

 

 

 

 

 

 

 

 

(a)

Includes 2 million, 2 million, and 3 million of PSUs granted at target and performance adjustments above target levels for fiscal years 2020, 2019, and 2018, respectively.

 
Employee Purchased Shares Employees purchased the following shares during the periods presented:

(Shares in millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended June 30,

 

2020

 

 

2019

 

 

2018

 

 

 

 

 

Shares purchased

 

 

9

 

 

 

11

 

 

 

13

 

Average price per share

 

$

142.22

 

 

$

104.85

 

 

$

  76.40