LEASES (Tables)
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3 Months Ended |
Sep. 30, 2024 |
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| Leases [Abstract] |
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| Components of Lease Expense |
The components of lease expense were as follows:
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(In millions) |
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Three Months Ended September 30, |
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2024 |
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2023 |
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Operating lease cost |
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$ |
1,161 |
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$ |
775 |
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Finance lease cost: |
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Amortization of right-of-use assets |
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$ |
696 |
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$ |
380 |
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Interest on lease liabilities |
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275 |
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149 |
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Total finance lease cost |
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$ |
971 |
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$ |
529 |
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| Supplemental Cash Flow Information Related to Leases |
Supplemental cash flow information related to leases was as follows:
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(In millions) |
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Three Months Ended September 30, |
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2024 |
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2023 |
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Cash paid for amounts included in the measurement of lease liabilities: |
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Operating cash flows from operating leases |
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$ |
1,207 |
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$ |
795 |
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Operating cash flows from finance leases |
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275 |
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149 |
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Financing cash flows from finance leases |
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802 |
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285 |
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Right-of-use assets obtained in exchange for lease obligations: |
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Operating leases |
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1,892 |
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1,804 |
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Finance leases |
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4,332 |
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1,704 |
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| Supplemental Balance Sheet Information Related to Leases |
Supplemental balance sheet information related to leases was as follows:
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(In millions, except lease term and discount rate) |
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September 30, 2024 |
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June 30, 2024 |
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Operating Leases |
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Operating lease right-of-use assets |
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$ |
20,528 |
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$ |
18,961 |
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Other current liabilities |
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$ |
4,009 |
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$ |
3,580 |
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Operating lease liabilities |
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16,361 |
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15,497 |
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Total operating lease liabilities |
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$ |
20,370 |
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$ |
19,077 |
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Finance Leases |
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Property and equipment, at cost |
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$ |
37,186 |
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$ |
32,248 |
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Accumulated depreciation |
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(7,070 |
) |
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(6,386 |
) |
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Property and equipment, net |
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$ |
30,116 |
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$ |
25,862 |
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Other current liabilities |
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$ |
2,504 |
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$ |
2,349 |
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Other long-term liabilities |
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28,847 |
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24,796 |
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Total finance lease liabilities |
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$ |
31,351 |
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$ |
27,145 |
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Weighted Average Remaining Lease Term |
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Operating leases |
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7 years |
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7 years |
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Finance leases |
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12 years |
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12 years |
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Weighted Average Discount Rate |
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Operating leases |
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3.4% |
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3.3% |
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Finance leases |
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4.0% |
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3.9% |
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| Maturities of Lease Liabilities |
The following table outlines maturities of our lease liabilities as of September 30, 2024:
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(In millions) |
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Year Ending June 30, |
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Operating Leases |
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Finance Leases |
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2025 (excluding the three months ended September 30, 2024) |
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$ |
3,386 |
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$ |
2,742 |
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2026 |
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4,122 |
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3,697 |
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2027 |
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3,411 |
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3,720 |
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2028 |
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2,754 |
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3,706 |
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2029 |
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2,124 |
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3,099 |
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Thereafter |
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7,174 |
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22,745 |
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Total lease payments |
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22,971 |
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39,709 |
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Less imputed interest |
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(2,601 |
) |
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(8,358 |
) |
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Total |
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$ |
20,370 |
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$ |
31,351 |
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