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EQUITY (Tables) | 6 Months Ended
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Dec. 31, 2019
EQUITY |
Schedule of equity | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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
​
Summary of cash dividends declared per share on the Company's Class A and Class B Common Stock | 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 | ​
​
Schedule of components of AOCI, net of tax | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | 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.
​
Schedule of effects of reclassification adjustments from AOCI into net earnings | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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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