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EARNINGS PER SHARE
 9 Months Ended
Mar. 31, 2018
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 March 31, 2018
 
Three Months Ended March 31, 2017
CONSOLIDATED AMOUNTS
Total
 
Continuing Operations
Discontinued Operations
Total
Net earnings
$
2,540

 
$
2,556

$
—

$
2,556

Net earnings attributable to noncontrolling interests
(29
)
 
(34
)
—

(34
)
Net earnings attributable to P&G (Diluted)
2,511

 
2,522

—

2,522

Preferred dividends, net of tax benefit
(74
)
 
(60
)
—

(60
)
Net earnings attributable to P&G available to common shareholders (Basic)
$
2,437

 
$
2,462

$
—

$
2,462

 
 
 
 
 
 
SHARES IN MILLIONS
 
 
 
 
 
Basic weighted average common shares outstanding
2,522.7

 
2,563.3

2,563.3

2,563.3

Effect of dilutive securities
 
 
 
 
 
Conversion of preferred shares (1)
94.3

 
98.7

98.7

98.7

Exercise of stock options and other unvested equity awards (2)
28.6

 
43.5

43.5

43.5

Diluted weighted average common shares outstanding
2,645.6

 
2,705.5

2,705.5

2,705.5

 
 
 
 
 
 
PER SHARE AMOUNTS (3)
 
 
 
 
 
Basic net earnings per common share
$
0.97

 
$
0.96

$
—

$
0.96

Diluted net earnings per common share
$
0.95

 
$
0.93

$
—

$
0.93

 
 
 
 
 
 
 
Nine Months Ended March 31, 2018
 
Nine Months Ended March 31, 2017
CONSOLIDATED AMOUNTS
Total
 
Continuing Operations
Discontinued Operations
Total
Net earnings
$
7,971

 
$
7,992

$
5,217

$
13,209

Net earnings attributable to noncontrolling interests
(112
)
 
(98
)
—

(98
)
Net earnings attributable to P&G (Diluted)
7,859

 
7,894

5,217

13,111

Preferred dividends, net of tax benefit
(198
)
 
(184
)
—

(184
)
Net earnings attributable to P&G available to common shareholders (Basic)
$
7,661

 
$
7,710

$
5,217

$
12,927

 
 
 
 
 
 
SHARES IN MILLIONS
 
 
 
 
 
Basic weighted average common shares outstanding
2,535.7

 
2,611.5

2,611.5

2,611.5

Effect of dilutive securities
 
 
 
 
 
Conversion of preferred shares (1)
95.4

 
99.9

99.9

99.9

Exercise of stock options and other unvested equity awards (2)
37.5

 
44.0

44.0

44.0

Diluted weighted average common shares outstanding
2,668.6

 
2,755.4

2,755.4

2,755.4

 
 
 
 
 
 
PER SHARE AMOUNTS (3)
 
 
 
 
 
Basic net earnings per common share
$
3.02

 
$
2.95

$
2.00

$
4.95

Diluted net earnings per common share
$
2.94

 
$
2.87

$
1.89

$
4.76


(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 54 million and 7 million for the three months ended March 31, 2018 and 2017, and approximately 24 million and 16 million for the nine months ended March 31, 2018 and 2017, 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 attributable to Procter & Gamble.