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EARNINGS PER SHARE
 3 Months Ended
Sep. 30, 2017
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block] Earnings Per Share
Basic net earnings per common share are calculated by dividing Net earnings attributable to Procter & Gamble, less preferred dividends (net of related tax benefits), by the weighted average number of common shares outstanding during the period. Diluted net earnings per common share are calculated on the basis of the weighted average number of common shares outstanding plus the dilutive effect of stock options and other stock-based awards and the assumed conversion of preferred stock.
Net earnings per share were as follows:
 
Three Months Ended September 30, 2017
 
Three Months Ended September 30, 2016
CONSOLIDATED AMOUNTS
Continuing Operations
Discontinued Operations
Total
 
Continuing Operations
Discontinued Operations
Total
Net earnings/(loss)
$
2,870

$
—

$
2,870

 
$
2,875

$
(118
)
$
2,757

Net earnings attributable to noncontrolling interests
(17
)
—

(17
)
 
(43
)
—

(43
)
Net earnings/(loss) attributable to P&G (Diluted)
2,853

—

2,853

 
2,832

(118
)
2,714

Preferred dividends, net of tax benefit
(62
)
—

(62
)
 
(63
)
—

(63
)
Net earnings/(loss) attributable to P&G available to common shareholders (Basic)
$
2,791

$
—

$
2,791

 
$
2,769

$
(118
)
$
2,651

 
 
 
 
 
 
 
 
SHARES IN MILLIONS
 
 
 
 
 
 
 
Basic weighted average common shares outstanding
2,550.5

—

2,550.5

 
2,674.7

2,674.7

2,674.7

Effect of dilutive securities
 
 
 
 
 
 
 
Conversion of preferred shares (1)
96.6

—

96.6

 
101.0

101.0

101.0

Exercise of stock options and other unvested equity awards (2)
43.5

—

43.5

 
47.2

47.2

47.2

Diluted weighted average common shares outstanding
2,690.6

—

2,690.6

 
2,822.9

2,822.9

2,822.9

 
 
 
 
 
 
 
 
PER SHARE AMOUNTS (3)
 
 
 
 
 
 
 
Basic net earnings/(loss) per common share
$
1.09

$
—

$
1.09

 
$
1.03

$
(0.04
)
$
0.99

Diluted net earnings/(loss) per common share
$
1.06

$
—

$
1.06

 
$
1.00

$
(0.04
)
$
0.96

(1) 
Despite being included currently in Diluted net earnings per common share, the actual conversion to common stock occurs when the preferred shares are sold. Shares may only be sold after being allocated to the ESOP participants pursuant to the repayment of the ESOP's obligations through 2035.
(2) 
Weighted average outstanding stock options of approximately 20 million and 26 million for the three months ended September 30, 2017 and 2016, respectively, were not included in the Diluted net earnings per share calculation because the options were out of the money or to do so would have been antidilutive (i.e., the total proceeds upon exercise would have exceeded the market value of the underlying common shares).
(3) 
Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings/(loss) attributable to Procter & Gamble.