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EQUITY | 6 Months Ended
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Dec. 31, 2020
Equity [Abstract] |
EQUITY | EQUITY Total Stockholders’ Equity – The Estée Lauder Companies Inc.
|  | Three Months Ended December 31 |  | Six Months Ended December 31
(In millions) |  | 2020 |  | 2019 |  | 2020 |  | 2019
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 |  | 4,913 |  |  | 4,514 |  |  | 4,790 |  |  | 4,403 |
Common stock dividends |  | — |  |  | 1 |  |  | 1 |  |  | 2 |
Stock-based compensation |  | 155 |  |  | 100 |  |  | 277 |  |  | 210 |
Paid-in capital, end of the period |  | 5,068 |  |  | 4,615 |  |  | 5,068 |  |  | 4,615 |
Retained earnings, beginning of the period |  | 10,480 |  |  | 10,393 |  |  | 10,134 |  |  | 9,984 |
Common stock dividends |  | (194) |  |  | (175) |  |  | (368) |  |  | (332) |
Net earnings attributable to The Estée Lauder Companies Inc. |  | 873 |  |  | 557 |  |  | 1,396 |  |  | 1,152 |
Cumulative effect of adoption of new accounting standards |  | — |  |  | — |  |  | (3) |  |  | (29) |
Retained earnings, end of the period |  | 11,159 |  |  | 10,775 |  |  | 11,159 |  |  | 10,775 |
Accumulated other comprehensive loss, beginning of the period |  | (594) |  |  | (627) |  |  | (665) |  |  | (563) |
Other comprehensive income (loss) |  | 211 |  |  | 58 |  |  | 282 |  |  | (6) |
Accumulated other comprehensive loss, end of the period |  | (383) |  |  | (569) |  |  | (383) |  |  | (569) |
Treasury stock, beginning of the period |  | (10,353) |  |  | (9,756) |  |  | (10,330) |  |  | (9,444) |
Acquisition of treasury stock |  | — |  |  | (426) |  |  | — |  |  | (703) |
Stock-based compensation |  | (76) |  |  | (71) |  |  | (99) |  |  | (106) |
Treasury stock, end of the period |  | (10,429) |  |  | (10,253) |  |  | (10,429) |  |  | (10,253) |
Total stockholders’ equity – The Estée Lauder Companies Inc. |  | 5,421 |  |  | 4,574 |  |  | 5,421 |  |  | 4,574 |
Noncontrolling interests, beginning of the period |  | 29 |  |  | 28 |  |  | 27 |  |  | 25 |
Net earnings attributable to noncontrolling interests |  | 4 |  |  | 4 |  |  | 6 |  |  | 7 |
Distribution to noncontrolling interest holders |  | — |  |  | (4) |  |  | — |  |  | (4) |
Other comprehensive (income) loss |  | 2 |  |  | (1) |  |  | 2 |  |  | (1) |
Noncontrolling interests, end of the period |  | 35 |  |  | 27 |  |  | 35 |  |  | 27 |
Total equity |  | $ | 5,456 |  |  | $ | 4,601 |  |  | $ | 5,456 |  |  | $ | 4,601 |
Cash dividends declared per common share |  | $ | .53 |  |  | $ | .48 |  |  | $ | 1.01 |  |  | $ | .91 |
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, 2020:
Date Declared |  | Record Date |  | Payable Date |  | Amount per Share
August 19, 2020 |  | August 31, 2020 |  | September 15, 2020 |  | $ | .48 |
October 30, 2020 |  | November 30, 2020 |  | December 15, 2020 |  | $ | .53 |
On February 4, 2021, a dividend was declared in the amount of $.53 per share on the Company’s Class A and Class B Common Stock. The dividend is payable in cash on March 15, 2021 to stockholders of record at the close of business on February 26, 2021. Common Stock Beginning in early February 2020, the Company temporarily suspended its repurchase of shares of the Company's Class A Common Stock. The Company may resume repurchases in the future. During the six months ended December 31, 2020, approximately 2.2 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 The following table represents changes in AOCI, net of tax, by component for the six months ended December 31, 2020:
(In millions) |  | Net Cash Flow Hedge Gain (Loss) |  | Retirement Plan and Other Retiree Benefit Adjustments |  | Translation Adjustments |  | Total
Balance at June 30, 2020 |  | $ | 14 |  |  | $ | (244) |  |  | $ | (435) |  |  | $ | (665) |
OCI before reclassifications |  | (48) |  |  | (2) |  | (1) | 318 |  | (2) | 268 |
Amounts reclassified to Net earnings |  | 4 |  |  | 10 |  |  | — |  |  | 14 |
Net current-period OCI |  | (44) |  |  | 8 |  |  | 318 |  |  | 282 |
Balance at December 31, 2020 |  | $ | (30) |  |  | $ | (236) |  |  | $ | (117) |  |  | $ | (383) |
(1)Consists of foreign currency translation losses. (2)See Note 5 – 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, 2020 and 2019:
|  | Amount Reclassified from AOCI |  | Affected Line Item in Consolidated Statements of Earnings
|  | Three Months Ended December 31 |  | Six Months Ended December 31 |
(In millions) |  | 2020 |  | 2019 |  | 2020 |  | 2019 |
Gain (Loss) on Cash Flow Hedges |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | (5) |  |  | $ | 6 |  |  | $ | (4) |  |  | $ | 19 |  |  | Net sales
Interest rate-related derivatives |  | — |  |  | — |  |  | (1) |  |  | — |  |  | Interest expense
|  | (5) |  |  | 6 |  |  | (5) |  |  | 19 |  |  |
Benefit (provision) for deferred taxes |  | 1 |  |  | (2) |  |  | 1 |  |  | (5) |  |  | Provision for income taxes
|  | $ | (4) |  |  | $ | 4 |  |  | (4) |  |  | $ | 14 |  |  | Net earnings
Retirement Plan and Other Retiree Benefit Adjustments |  |  |  |  |  |  |  |  |  |
Amortization of actuarial loss |  | $ | (6) |  |  | $ | (5) |  |  | $ | (12) |  |  | $ | (10) |  |  | Earnings before income taxes (1)
Benefit for deferred taxes |  | 1 |  |  | 1 |  |  | 2 |  |  | 2 |  |  | Provision for income taxes
|  | $ | (5) |  |  | $ | (4) |  |  | $ | (10) |  |  | $ | (8) |  |  | 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 |  | $ | (9) |  |  | $ | 4 |  |  | $ | (14) |  |  | $ | 4 |  |  | Net earnings
(1)See Note 8 – Pension and Post-Retirement Benefit Plans for additional information.

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- References No definition available. + Details
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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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