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EQUITY | 6 Months Ended
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Dec. 31, 2019
EQUITY |
EQUITY | NOTE 14 – EQUITY ​ Total Stockholders’ Equity – The Estée Lauder Companies Inc. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended |  | Six Months Ended
​ | ​ | December 31 |  | December 31
(In millions) |  | 2019 |  | 2018 |  | 2019 |  | 2018
Common stock, beginning of the period | ​ | $ | 6 | ​ | $ | 6 | ​ | $ | 6 | ​ | $ | 6
Stock-based compensation | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Common stock, end of the period | ​ |  | 6 | ​ |  | 6 | ​ |  | 6 | ​ |  | 6
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Paid-in capital, beginning of the period | ​ |  | 4,514 | ​ |  | 4,065 | ​ |  | 4,403 | ​ |  | 3,972
Common stock dividends | ​ |  | 1 | ​ |  | — | ​ |  | 2 | ​ |  | —
Stock-based compensation | ​ |  | 100 | ​ |  | 97 | ​ |  | 210 | ​ |  | 190
Paid-in capital, end of the period | ​ |  | 4,615 | ​ |  | 4,162 | ​ |  | 4,615 | ​ |  | 4,162
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Retained earnings, beginning of the period | ​ |  | 10,393 | ​ |  | 9,170 | ​ |  | 9,984 | ​ |  | 9,040
Common stock dividends | ​ |  | (175) | ​ |  | (157) | ​ |  | (332) | ​ |  | (298)
Net earnings attributable to The Estée Lauder Companies Inc. | ​ |  | 557 | ​ |  | 573 | ​ |  | 1,152 | ​ |  | 1,073
Cumulative effect of adoption of new accounting standards | ​ |  | — | ​ |  | — | ​ |  | (29) | ​ |  | (229)
Retained earnings, end of the period | ​ |  | 10,775 | ​ |  | 9,586 | ​ |  | 10,775 | ​ |  | 9,586
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Accumulated other comprehensive loss, beginning of the period | ​ |  | (627) | ​ |  | (409) | ​ |  | (563) | ​ |  | (434)
Other comprehensive income (loss) | ​ |  | 58 | ​ |  | (21) | ​ |  | (6) | ​ |  | 4
Accumulated other comprehensive loss, end of the period | ​ |  | (569) | ​ |  | (430) | ​ |  | (569) | ​ |  | (430)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Treasury stock, beginning of the period | ​ |  | (9,756) | ​ |  | (8,426) | ​ |  | (9,444) | ​ |  | (7,896)
Acquisition of treasury stock | ​ |  | (426) | ​ |  | (531) | ​ |  | (703) | ​ |  | (1,033)
Stock-based compensation | ​ |  | (71) | ​ |  | (61) | ​ |  | (106) | ​ |  | (89)
Treasury stock, end of the period | ​ |  | (10,253) | ​ |  | (9,018) | ​ |  | (10,253) | ​ |  | (9,018)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total stockholders’ equity – The Estée Lauder Companies Inc. | ​ |  | 4,574 | ​ |  | 4,306 | ​ |  | 4,574 | ​ |  | 4,306
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Noncontrolling interests, beginning of the period | ​ |  | 28 | ​ |  | 24 | ​ |  | 25 | ​ |  | 22
Net earnings attributable to noncontrolling interests | ​ |  | 4 | ​ |  | 4 | ​ |  | 7 | ​ |  | 6
Distribution to noncontrolling interest holders | ​ |  | (4) | ​ |  | — | ​ |  | (4) | ​ |  | —
Other comprehensive income | ​ |  | (1) | ​ |  | (1) | ​ |  | (1) | ​ |  | (1)
Noncontrolling interests, end of the period | ​ |  | 27 | ​ |  | 27 | ​ |  | 27 | ​ |  | 27
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total equity | ​ | $ | 4,601 | ​ | $ | 4,333 | ​ | $ | 4,601 | ​ | $ | 4,333
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash dividends declared per common share | ​ | $ | .48 | ​ | $ | .43 | ​ | $ | .91 | ​ | $ | .81
​ The following is a summary of quarterly cash dividends declared per share on the Company’s Class A and Class B Common Stock during the six months ended December 31, 2019: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Date Declared |  | Record Date |  | Payable Date |  | Amount per Share | ​
August 16, 2019 |  | August 30, 2019 |  | September 16, 2019 |  | $ | .43 | ​
October 30, 2019 | ​ | November 29, 2019 | ​ | December 16, 2019 | ​ | $ | .48 | ​
​ On February 5, 2020, a dividend was declared in the amount of $.48 per share on the Company’s Class A and Class B Common Stock. The dividend is payable in cash on March 16, 2020 to stockholders of record at the close of business on February 28, 2020. ​ Common Stock ​ During the six months ended December 31, 2019, the Company purchased approximately 4.3 million shares of its Class A Common Stock for $813 million. ​ During the six months ended December 31, 2019, approximately 2.3 million shares of the Company’s Class B Common Stock were converted into the same amount of shares of the Company’s Class A Common Stock. ​ Accumulated Other Comprehensive Income (Loss) ​ The following table represents changes in AOCI, net of tax, by component for the six months ended December 31, 2019: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Amounts | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Net Cash | ​ | Included in Net | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Flow Hedge | ​ | Periodic Benefit | ​ | Translation | ​ | ​ | ​ | ​
(In millions) |  | Gain (Loss) |  | Cost |  | Adjustments |  | Total | ​
Balance at June 30, 2019 |  | $ | 21 |  | $ | (253) | ​ | $ | (331) |  | $ | (563) | ​
OCI before reclassifications | ​ |  | (4) | ​ |  | (1) | (1) |  | 3 | (2) |  | (2) | ​
Amounts reclassified to Net earnings | ​ | ​ | (14) | ​ | ​ | 8 | ​ | ​ | 2 | ​ | ​ | (4) | ​
Net current-period OCI | ​ |  | (18) | ​ |  | 7 | ​ |  | 5 | ​ |  | (6) | ​
Balance at December 31, 2019 |  | $ | 3 |  | $ | (246) | ​ | $ | (326) |  | $ | (569) | ​
(1) | Consists of foreign currency translation losses.
(2) | See Note 7 - Derivative Financial Instruments for gains (losses) relating to net investment hedges.
​ The following table represents the effects of reclassification adjustments from AOCI into net earnings for the three and six months ended December 31, 2019 and 2018: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Amount Reclassified from AOCI | ​ | ​
​ | ​ | Three Months Ended | ​ | Six Months Ended | ​ | Affected Line Item in
​ | ​ | December 31 | ​ | December 31 | ​ | Consolidated
(In millions) |  | 2019 |  | 2018 |  | 2019 |  | 2018 |  | Statements of Earnings
Gain (Loss) on Cash Flow Hedges | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Foreign currency forward contracts |  | $ | 6 |  | $ | 4 | ​ | $ | 19 |  | $ | 7 | ​ | Net sales
Benefit (provision) for deferred taxes | ​ |  | (2) | ​ |  | (1) | ​ |  | (5) | ​ |  | (2) | ​ | Provision for income taxes
​ |  | $ | 4 |  | $ | 3 | ​ | $ | 14 |  | $ | 5 | ​ | Net earnings
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amounts Included in Net Periodic Benefit Cost | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amortization of actuarial loss | ​ | $ | (5) | ​ | $ | (4) | ​ | $ | (10) | ​ | $ | (7) | ​ | Earnings before income taxes (1)
Benefit for deferred taxes | ​ |  | 1 | ​ |  | 1 | ​ |  | 2 | ​ |  | 2 | ​ | Provision for income taxes
​ |  | $ | (4) | ​ | $ | (3) | ​ | $ | (8) | ​ | $ | (5) | ​ | Net earnings
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cumulative Translation Adjustments | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Gain on previously held equity method investment | ​ | $ | 4 | ​ | $ | — | ​ | $ | 4 | ​ | $ | — | ​ | Other income
Loss on liquidation of an investment in a foreign subsidiary | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (6) | ​ | ​ | — | ​ | Restructuring and other charges
​ | ​ | $ | 4 | ​ | $ | — | ​ | $ | (2) | ​ | $ | — | ​ | Net earnings
Total reclassification adjustments, net |  | $ | 4 |  | $ | — | ​ | $ | 4 |  | $ | — | ​ | Net earnings
(1) | See Note 10 – Pension and Post-Retirement Benefit Plans for additional information.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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