NOTE 18 — STOCKHOLDERS’ EQUITY
Shares Outstanding
Shares of common stock outstanding were as follows:
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| Year Ended June 30, | 2013 | 2012 | 2011 | |||||||||
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Balance, beginning of year |
8,381 | 8,376 | 8,668 | |||||||||
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Issued |
105 | 147 | 155 | |||||||||
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Repurchased |
(158 | ) | (142 | ) | (447 | ) | ||||||
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Balance, end of year |
8,328 | 8,381 | 8,376 | |||||||||
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Share Repurchases
On September 22, 2008, we announced that our Board of Directors approved a share repurchase program authorizing up to $40.0 billion in share repurchases with an expiration date of September 30, 2013. As of June 30, 2013, approximately $3.6 billion of the approved repurchase amount remained. The repurchase program may be suspended or discontinued at any time without prior notice.
We repurchased the following shares of common stock under the above-described repurchase plan using cash resources:
| (In millions) | Shares | Amount | Shares | Amount | Shares | Amount | ||||||||||||||||||
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| Year Ended June 30, | 2013 | 2012 | 2011 | |||||||||||||||||||||
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First quarter |
33 | $ | 1,000 | 38 | $ | 1,000 | 163 | $ | 4,000 | |||||||||||||||
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Second quarter |
58 | 1,607 | 39 | 1,000 | 188 | 5,000 | ||||||||||||||||||
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Third quarter |
36 | 1,000 | 31 | 1,000 | 30 | 827 | ||||||||||||||||||
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Fourth quarter |
31 | 1,000 | 34 | 1,000 | 66 | 1,631 | ||||||||||||||||||
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Total |
158 | $ | 4,607 | 142 | $ | 4,000 | 447 | $ | 11,458 | |||||||||||||||
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Dividends
In fiscal year 2013, our Board of Directors declared the following dividends:
| Declaration Date |
Dividend Per Share |
Record Date | Total Amount | Payment Date | ||||||||||||
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September 18, 2012 |
$ | 0.23 | November 15, 2012 | $ | 1,933 | December 13, 2012 | ||||||||||
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November 28, 2012 |
$ | 0.23 | February 21, 2013 | $ | 1,925 | March 14, 2013 | ||||||||||
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March 11, 2013 |
$ | 0.23 | May 16, 2013 | $ | 1,921 | June 13, 2013 | ||||||||||
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June 12, 2013 |
$ | 0.23 | August 15, 2013 | $ | 1,916 | September 12, 2013 | ||||||||||
The dividend declared on June 12, 2013 will be paid after the filing date of this report on Form 10-K and was included in other current liabilities as of June 30, 2013.
In fiscal year 2012, our Board of Directors declared the following dividends:
| Declaration Date |
Dividend Per Share |
Record Date | Total Amount | Payment Date | ||||||||||||
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September 20, 2011 |
$ | 0.20 | November 17, 2011 | $ | 1,683 | December 8, 2011 | ||||||||||
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December 14, 2011 |
$ | 0.20 | February 16, 2012 | $ | 1,683 | March 8, 2012 | ||||||||||
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March 13, 2012 |
$ | 0.20 | May 17, 2012 | $ | 1,678 | June 14, 2012 | ||||||||||
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June 13, 2012 |
$ | 0.20 | August 16, 2012 | $ | 1,676 | September 13, 2012 | ||||||||||
The dividend declared on June 13, 2012 was included in other current liabilities as of June 30, 2012.