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EQUITY (Tables)

6 Months Ended

Dec. 31, 2019


	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.