Item 8

  

STOCKHOLDERS’ EQ UITY STATEMENTS

> **(In millions, except per share amounts)**
>
> Year Ended June 30, ..................... 2025 / 2025 / 2024 / 2024 / 2023 / 2023
> Common stock and paid-in capital
> Balance, beginning of period ............ $ / 100,923 / $ / 93,718 / $ / 86,939
> Common stock issued ..................... 2,056 / 2,002 / 1,866
> Common stock repurchased ................ ( 5,856 / ) / ( 5,712 / ) / ( 4,696 / )
> Stock-based compensation expense ........ 11,974 / 10,734 / 9,611
> Other, net .............................. ( 2 / ) / 181 / ( 2 / )
> Balance, end of period .................. 109,095 / 100,923 / 93,718
> Retained earnings
> Balance, beginning of period ............ 173,144 / 118,848 / 84,281
> Net income .............................. 101,832 / 88,136 / 72,361
> Common stock cash dividends ............. ( 24,677 / ) / ( 22,293 / ) / ( 20,226 / )
> Common stock repurchased ................ ( 12,568 / ) / ( 11,547 / ) / ( 17,568 / )
> Balance, end of period .................. 237,731 / 173,144 / 118,848
> Accumulated other comprehensive loss
> Balance, beginning of period ............ ( 5,590 / ) / ( 6,343 / ) / ( 4,678 / )
> Other comprehensive income (loss) ....... 2,243 / 753 / ( 1,665 / )
> Balance, end of period .................. ( 3,347 / ) / ( 5,590 / ) / ( 6,343 / )
> Total stockholders’ equity .............. $ / 343,479 / $ / 268,477 / $ / 206,223
> Cash dividends declared per common share ... $ / 3.32 / $ / 3.00 / $ / 2.72

Refer to accompanying notes.

  

54

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PART II