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UNAUDITED QUARTERLY FINANCIAL DATA (Tables) | 12 Months Ended
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Jun. 30, 2020
Quarterly Financial Information Disclosure [Abstract] |
Summary of unaudited quarterly operating results | The following summarizes the unaudited quarterly operating results of the Company for fiscal 2020 and 2019:
|  | Quarter Ended |  |  |  |  |  |  |  |
(In millions, except per share data) |  | September 30 (1) |  | December 31 (2) |  | March 31 (3) |  | June 30 (4) |  | Total Year
Fiscal 2020 |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 3,895 |  |  | $ | 4,624 |  |  | $ | 3,345 |  |  | $ | 2,430 |  |  | $ | 14,294 |
Gross profit |  | 2,987 |  |  | 3,583 |  |  | 2,509 |  |  | 1,663 |  |  | 10,742 |
Operating income (loss) |  | 779 |  |  | 261 |  |  | 109 |  |  | (543) |  |  | 606 |
Net earnings (loss) attributable to The Estée Lauder Companies Inc. |  | 595 |  |  | 557 |  |  | (6) |  |  | (462) |  |  | 684 |
Net earnings (loss) attributable to The Estée Lauder Companies Inc. per common share: |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 1.65 |  |  | $ | 1.55 |  |  | $ | (.02) |  |  | $ | (1.28) |  |  | $ | 1.90 |
Diluted |  | $ | 1.61 |  |  | $ | 1.52 |  |  | $ | (.02) |  |  | $ | (1.28) |  |  | $ | 1.86 |
Fiscal 2019 |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 3,524 |  |  | $ | 4,005 |  |  | $ | 3,744 |  |  | $ | 3,590 |  |  | $ | 14,863 |
Gross profit |  | 2,701 |  |  | 3,095 |  |  | 2,925 |  |  | 2,755 |  |  | 11,476 |
Operating income |  | 652 |  |  | 771 |  |  | 674 |  |  | 216 |  |  | 2,313 |
Net earnings attributable to The Estée Lauder Companies Inc. |  | 500 |  |  | 573 |  |  | 555 |  |  | 157 |  |  | 1,785 |
Net earnings attributable to The Estée Lauder Companies Inc. per common share: |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 1.36 |  |  | $ | 1.58 |  |  | $ | 1.53 |  |  | $ | .43 |  |  | $ | 4.91 |
Diluted |  | $ | 1.34 |  |  | $ | 1.55 |  |  | $ | 1.51 |  |  | $ | .43 |  |  | $ | 4.82 |
(1)Fiscal 2020 first quarter results include charges associated with restructuring and other activities of $(25) million ($(21) million after tax, or $(.06) per diluted common share). Fiscal 2019 first quarter results include charges associated with restructuring and other activities of $(47) million ($(37) million after tax, or $(.10) per diluted common share) and the changes in fair value of contingent consideration of $11 million ($9 million after tax, or $.02 per diluted common share). The fiscal 2019 first quarter results also include a net credit resulting from the TCJA of $1 million, or $(.01) per diluted common share, relating to the Transition Tax and the net deferred tax liability related to foreign withholding taxes on certain foreign earnings. (2)Fiscal 2020 second quarter results include goodwill and other intangible asset impairments of $(777) million ($(663) million after tax, or $(1.81) per diluted common share), charges associated with restructuring and other activities of $(13) million ($(10) million after tax, or $(.03) per diluted common share) and the changes in fair value of contingent consideration of $7 million ($6 million after tax, or $.02 per diluted common share). The fiscal 2020 second quarter results also include gains relating to the Company's previously held equity method investment in Have&Be of $576 million ($450 million after tax, or $1.23 per diluted common share). Fiscal 2019 second quarter results include goodwill and other intangible asset impairments of $(38) million ($(34) million after tax, or $(.09) per diluted common share), charges associated with restructuring and other activities of $(35) million ($(31) million after tax, or $(.08) per diluted common share) and the changes in fair value of contingent consideration of $(2) million ($(1) million after tax, which did not have an impact on diluted earnings per share). The fiscal 2019 second quarter results also include a net charge resulting from the TCJA of $(6) million, or $(.02) per diluted common share, relating to the remeasurement of U.S. net deferred tax assets and the Transition Tax. (3)Fiscal 2020 third quarter results include goodwill, other intangible and long-lived asset impairments of $(346) million ($(298) million after tax, or $(.83) per diluted common share), charges associated with restructuring and other activities of $(25) million ($(20) million after tax, or $(.05) per diluted common share) and the changes in fair value of contingent consideration of $2 million ($2 million after tax, or $.01 per diluted common share). Fiscal 2019 third quarter results include a gain on liquidation of an investment in a foreign subsidiary, net of $71 million ($57 million after tax, or $.15 per diluted common share). The fiscal 2019 third quarter results also include goodwill and other intangible asset impairments of $(52) million (before and after tax, or $(.14) per diluted common share), charges associated with restructuring and other activities of $(35) million ($(27) million after tax, or $(.07) per diluted common share) and the changes in fair value of contingent consideration of $9 million ($7 million after tax, or $.02 per diluted common share). (4)Fiscal 2020 fourth quarter results include goodwill, other intangible and long-lived asset impairments of $(303) million ($(254) million after tax, or $(.70) per diluted common share), charges associated with restructuring and other activities of $(20) million ($(17) million after tax, or $(.05) per diluted common share) and the changes in fair value of contingent consideration of $8 million ($8 million after tax, or $.02 per diluted common share). The fiscal 2020 fourth quarter results also include Other income, net, primarily relating to the Company's previously held equity method investment in Have&Be, of $(19) million ($(9) million after tax, or $(.02) per diluted common share). Fiscal 2019 fourth quarter results include charges associated with restructuring and other activities of $(124) million ($(95) million after tax, or $(.25) per diluted common share) and the changes in fair value of contingent consideration of $19 million ($16 million after tax, or $.04 per diluted common share).

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- Definition Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=118952077&loc=d3e1280-108306 + Details
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