XML 100 R47.htm IDEA: XBRL DOCUMENT
v3.21.2

STOCK PROGRAMS (Tables) | 12 Months Ended
--- | ---
Jun. 30, 2021
Share-based Payment Arrangement [Abstract] |
Schedule of stock-based compensation expense | Total net stock-based compensation expense is attributable to the granting of and the remaining requisite service periods of stock options, RSUs, PSUs, long-term PSUs and share units. Compensation expense attributable to net stock-based compensation is as follows:
|  | Year Ended June 30
(In millions) |  | 2021 |  | 2020 |  | 2019
Compensation expense(1) |  | $ | 327 |  |  | $ | 213 |  |  | $ | 243 |
Income tax benefit |  | $ | 50 |  |  | $ | 41 |  |  | $ | 47 |
(1)Excludes compensation expense relating to liability-classified awards, including DECIEM stock options discussed below.
Summary of stock option programs | The following is a summary of the Company’s stock option programs as of June 30, 2021 and changes during the fiscal year then ended:
(Shares in thousands) |  | Shares |  | Weighted- Average Exercise Price Per Share |  | Aggregate Intrinsic Value(1) (in millions) |  | Weighted-Average Contractual Life Remaining in Years
Outstanding at June 30, 2020 |  | 8,645.0 |  |  | $ | 108.30 |  |  |  |  |
Granted at fair value |  | 1,542.0 |  |  | 218.95 |  |  |  |  |
Exercised |  | (2,459.0) |  |  | 87.50 |  |  |  |  |
Expired |  | (11.1) |  |  | 130.55 |  |  |  |  |
Forfeited |  | (101.7) |  |  | 192.96 |  |  |  |  |
Outstanding at June 30, 2021 |  | 7,615.2 |  |  | 136.24 |  |  | $ | 1,385 |  |  | 6.0
Vested and expected to vest at June 30, 2021 |  | 7,547.9 |  |  | 135.58 |  |  | $ | 1,377 |  |  | 6.0
Exercisable at June 30, 2021 |  | 4,953.3 |  |  | 102.02 |  |  | $ | 1,070 |  |  | 5.0
(1)The intrinsic value of a stock option is the amount by which the market value of the underlying stock exceeds the exercise price of the option. The following is a summary of the DECIEM stock option program as of June 30, 2021 and changes during the fiscal year then ended:
(Shares in thousands) |  | Shares |  | Weighted- Average Exercise Price Per Share |  | Aggregate Intrinsic Value(1) (in millions) |  | Weighted-Average Contractual Life Remaining in Years
Outstanding at June 30, 2020 |  | — |  |  | $ | — |  |  |  |  |
Granted at fair value |  | 94.1 |  |  | 52.76 |  |  |  |  |
Exercised |  | — |  |  |  |  |  |  |
Expired |  | — |  |  |  |  |  |  |
Forfeited |  | — |  |  |  |  |  |  |
Outstanding at June 30, 2021 |  | 94.1 |  |  | 52.76 |  |  | $ | 145 |  |  | 2.9
Vested and expected to vest at June 30, 2021 |  | 91.0 |  |  | 54.54 |  |  | $ | 140 |  |  | 2.9
Exercisable at June 30, 2021 |  | — |  |  | — |  |  | $ | — |  |  | —
(1)The intrinsic value of a stock option is the amount by which the market value of the underlying stock exceeds the exercise price of the option.
Summary of weighted-average grant date fair value and intrinsic value of stock options exercised | The following is a summary of the per-share weighted-average grant date fair value of stock options granted and total intrinsic value of stock options exercised:
|  | Year Ended June 30
(In millions, except per share data) |  | 2021 |  | 2020 |  | 2019
Per-share weighted-average grant date fair value of stock options granted |  | $ | 54.83 |  |  | $ | 51.46 |  |  | $ | 38.62 |
Intrinsic value of stock options exercised |  | $ | 407 |  |  | $ | 309 |  |  | $ | 283 |
The following is a summary of the per-share weighted-average grant date fair value of stock options granted and total intrinsic value of stock options exercised:
|  | Year Ended June 30
|  | 2021 |  | 2020 |  | 2019
Per-share weighted-average grant date fair value of stock options granted |  | $ | 1,557 |  |  | $ | — |  |  | $ | — |
Intrinsic value of stock options exercised |  | $ | — |  |  | $ | — |  |  | $ | — |
Schedule of fair value option-pricing assumptions | The acquisition-date fair values of the DECIEM stock options and the net Put (Call) Option were calculated by incorporating significant assumptions including the starting equity value, revenue growth rates and EBITDA and the following key assumptions into the Monte Carlo Method:
|  | May 18, 2021
Risk-free rate |  | 0.50%
Term to mid of last twelve-month period |  | 2.54 years
Operating leverage adjustment |  | 0.45
Net sales discount rate |  | 3.30%
EBITDA discount rate |  | 6.80%
EBITDA volatility |  | 38.30%
Net sales volatility |  | 17.20%
The fair value of each of the Company's option grant was estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions:
|  | Year Ended June 30
|  | 2021 |  | 2020 |  | 2019
Weighted-average expected stock-price volatility |  | 26.1% |  | 25.1% |  | 24.5%
Weighted-average expected option life |  | 8 years |  | 7 years |  | 7 years
Average risk-free interest rate |  | 0.5% |  | 1.5% |  | 2.8%
Average dividend yield |  | 1.0% |  | 1.0% |  | 1.1%
The fair value of the stock options were calculated using the following key assumptions into the Monte Carlo Method:
|  | May 18, 2021 |  | June 30, 2021
Risk-free rate |  | 0.50% |  | 0.50%
Term to mid of last twelve-month period |  | 2.54 years |  | 2.42 years
Operating leverage adjustment |  | 0.45 |  | 0.45
Net sales discount rate |  | 3.30% |  | 3.40%
EBITDA discount rate |  | 6.80% |  | 6.90%
EBITDA volatility |  | 38.30% |  | 37.70%
Net sales volatility |  | 17.20% |  | 17.00%
Summary of restricted stock units (RSUs) | The following is a summary of the status of the Company’s RSUs as of June 30, 2021 and activity during the fiscal year then ended:
(Shares in thousands) |  | Shares |  | Weighted-Average Grant Date Fair Value Per Share
Nonvested at June 30, 2020 |  | 1,948.3 |  |  | $ | 157.89 |
Granted |  | 984.0 |  |  | 220.04 |
Dividend equivalents |  | 12.7 |  |  | 186.14 |
Vested |  | (989.7) |  |  | 145.53 |
Forfeited |  | (98.1) |  |  | 190.54 |
Nonvested at June 30, 2021 |  | 1,857.2 |  |  | 195.77 |
Summary of performance share units (PSUs) | The following is a summary of the status of the Company’s PSUs as of June 30, 2021 and activity during the fiscal year then ended:
(Shares in thousands) |  | Shares |  | Weighted-Average Grant Date Fair Value Per Share
Nonvested at June 30, 2020 |  | 695.1 |  |  | $ | 139.17 |
Granted |  | 161.2 |  |  | 217.88 |
Vested and issued(1) |  | — |  |  | — |
Forfeited |  | (56.2) |  |  | 92.18 |
Nonvested at June 30, 2021 |  | 800.1 |  |  | 158.33 |
(1) Approximately 0.2 million PSUs with a performance period ended June 30, 2021 to be issued in September 2021 are included in Nonvested at June 30, 2021.
Schedule of long-term price vested units | The number of shares subject to each tranche of the price-vested unit award, as well as the stock price goals, service periods, performance periods and share delivery dates for each tranche are as follows:
|  | Number of Shares per Tranche |  | Stock Price Goal (per Share) |  | Service Period |  | Performance Period for Stock Price Goal |  | Performance Period for Cumulative Operating Income Goal |  | Share Delivery Date
First tranche |  | 27,457 |  |  | $ | 323.03 |  |  | March 11, 2021 - June 30, 2024 |  | March 11, 2021 - June 30, 2024 |  | July 1, 2021 - June 30, 2025 |  | September 2, 2025
Second tranche |  | 28,598 |  |  | $ | 333.21 |  |  | March 11, 2021 - June 30, 2024 |  | March 11, 2021 - June 30, 2024 |  | July 1, 2021 - June 30, 2025 |  | September 2, 2025
Third tranche |  | 29,872 |  |  | $ | 343.61 |  |  | March 11, 2021 - June 30, 2024 |  | March 11, 2021 - June 30, 2024 |  | July 1, 2021 - June 30, 2025 |  | September 2, 2025
Total shares |  | 85,927 |  |  |  |  |  |  |  |  |  |  |
Schedule of assumptions used for award | The significant assumptions used for this award were as follows:
Expected volatility |  | 31.8 | %
Dividend yield |  | 0.8 | %
Risk-free interest rate |  | 0.4 | %
Expected term |  | 3.3 years
Summary of status of share units | The following is a summary of the status of the Company’s share units as of June 30, 2021 and activity during the fiscal year then ended:
(Shares in thousands) |  | Shares |  | Weighted-Average Grant Date Fair Value Per Share
Outstanding at June 30, 2020 |  | 136.8 |  |  | $ | 62.46 |
Granted |  | 3.6 |  |  | 246.82 |
Dividend equivalents |  | 1.2 |  |  | 262.37 |
Outstanding at June 30, 2021 |  | 141.6 |  |  | 68.73 |

X
- Definition Schedule of Share-based Payment Award, Equity Instruments Other than Options, Valuation Assumptions + References No definition available. + Details
Name: | el_ScheduleOfShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | el_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the weighted-average grant-date fair value of equity options granted and total intrinsic value of options exercised during the period. + References No definition available. + Details
Name: | el_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValueAndIntrinsicValueOfOptionsExercisedTableTextBlock
Namespace Prefix: | el_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for stock awards granted to nonemployee directors that were outstanding at the beginning and end of the year, and the number of awards that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (g) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationNonemployeeDirectorStockAwardPlanActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of number and weighted-average grant date fair value for nonvested performance shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_ShareBasedCompensationPerformanceSharesAwardUnvestedActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration