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EQUITY (Tables)

9 Months Ended

Mar. 31, 2021

Equity [Abstract]

Schedule of equity

Total Stockholders’ Equity – The Estée Lauder Companies Inc.

						Three Months Ended March 31												Nine Months Ended March 31
(In millions)						2021						2020						2021						2020
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						5,068						4,615						4,790						4,403
Common stock dividends						1						1						2						3
Stock-based compensation						162						144						439						354
Paid-in capital, end of the period						5,231						4,760						5,231						4,760
Retained earnings, beginning of the period						11,159						10,775						10,134						9,984
Common stock dividends						(195)						(174)						(563)						(506)
Net earnings (loss) attributable to The Estée Lauder Companies Inc.						456						(6)						1,852						1,146
Cumulative effect of adoption of new accounting standards						—						—						(3)						(29)
Retained earnings, end of the period						11,420						10,595						11,420						10,595
Accumulated other comprehensive loss, beginning of the period						(383)						(569)						(665)						(563)
Other comprehensive income (loss)						(104)						(143)						178						(149)
Accumulated other comprehensive loss, end of the period						(487)						(712)						(487)						(712)
Treasury stock, beginning of the period						(10,429)						(10,253)						(10,330)						(9,444)
Acquisition of treasury stock						(212)						(65)						(212)						(768)
Stock-based compensation						(1)						(2)						(100)						(108)
Treasury stock, end of the period						(10,642)						(10,320)						(10,642)						(10,320)
Total stockholders’ equity – The Estée Lauder Companies Inc.						5,528						4,329						5,528						4,329
Noncontrolling interests, beginning of the period						35						27						27						25
Net earnings attributable to noncontrolling interests						2						2						8						9
Distribution to noncontrolling interest holders						(6)						—						(6)						(4)
Other comprehensive (income) loss						(1)						—						1						(1)
Noncontrolling interests, end of the period						30						29						30						29
Total equity						$	5,558					$	4,358					$	5,558					$	4,358
Cash dividends declared per common share						$	.53					$	.48					$	1.54					$	1.39

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 nine months ended March 31, 2021:

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

February 4, 2021

February 26, 2021

March 15, 2021

$

.53

Schedule of components of AOCI, net of tax

The following table represents changes in AOCI, net of tax, by component for the nine months ended March 31, 2021:

(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						(22)						1			(1)			175			(2)			154
Amounts reclassified to Net earnings						10						14						—						24
Net current-period OCI						(12)						15						175						178
Balance at March 31, 2021						$	2					$	(229)					$	(260)					$	(487)

(1)Consists of foreign currency translation gains.

(2)See Note 6 – Derivative Financial Instruments for gains (losses) relating to net investment hedges.

Schedule of effects of reclassification adjustments from AOCI into net earnings

The following table represents the effects of reclassification adjustments from AOCI into net earnings (loss) for the three and nine months ended March 31, 2021 and 2020:

						Amount Reclassified from AOCI																								Affected Line Item in Consolidated Statements of Earnings (Loss)
						Three Months Ended March 31												Nine Months Ended March 31
(In millions)						2021						2020						2021						2020
Gain (Loss) on Cash Flow Hedges
Foreign currency forward contracts						$	(7)					$	10					$	(11)					$	29					Net sales
Interest rate-related derivatives						(1)						—						(2)						—						Interest expense
						(8)						10						(13)						29
Benefit (provision) for deferred taxes						2						(2)						3						(7)						Provision for income taxes
						$	(6)					$	8					(10)						$	22					Net earnings (loss)
Retirement Plan and Other Retiree Benefit Adjustments
Amortization of actuarial loss						$	(6)					$	(6)					$	(18)					$	(16)					Other components of net periodic benefit cost (1)
Settlements						(1)						—						(1)						—						Other components of net periodic benefit cost (1)
						(7)						(6)						(19)						(16)						Earnings before income taxes (1)
Benefit for deferred taxes						3						1						5						3						Provision for income taxes
						$	(4)					$	(5)					$	(14)					$	(13)					Net earnings (loss)
Cumulative Translation Adjustments
Gain on previously held equity method investment						$	—					$	—					$	—					$	4					Other income
Loss on liquidation of an investment in a foreign subsidiary						—						—						—						(6)						Restructuring and other charges
						$	—					$	—					—						$	(2)					Net earnings (loss)
Total reclassification adjustments, net						$	(10)					$	3					$	(24)					$	7					Net earnings (loss)

(1)See Note 9 – Pension and Post-Retirement Benefit Plans for additional information.

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