XML 90 R46.htm IDEA: XBRL DOCUMENT v3.23.2

PENSION, DEFERRED COMPENSATION AND POST-RETIREMENT BENEFIT PLANS (Tables)

12 Months Ended

Jun. 30, 2023

Retirement Benefits [Abstract]

Schedule of components of net periodic benefit cost for pension and other post-retirement benefit plans

The components of the above-mentioned plans as of and for the years ended June 30 are summarized as follows:

						Pension Plans																								Other than Pension Plans
						U.S.												International												Post-retirement
(In millions)						2023						2022						2023						2022						2023						2022
Change in benefit obligation:
Benefit obligation at beginning of year						$	922					$	1,075					$	562					$	700					$	177					$	209
Service cost						37						46						27						31						1						2
Interest cost						40						31						15						10						8						6
Plan participant contributions						—						—						8						7						1						1
Actuarial loss (gain)						(30)						(164)						(51)						(82)						4						(29)
Foreign currency exchange rate impact						—						—						(3)						(64)						(3)						(2)
Benefits, expenses, taxes and premiums paid						(57)						(66)						(32)						(39)						(12)						(10)
Plan amendments						—						—						—						1						—						—
Settlements						—						—						(4)						(6)						—						—
Special termination benefits						—						—						—						4						—						—
Benefit obligation at end of year						$	912					$	922					$	522					$	562					$	176					$	177
Change in plan assets:
Fair value of plan assets at beginning of year						$	838					$	981					$	579					$	681					$	14					$	24
Actual return on plan assets						(42)						(95)						(38)						(37)						(1)						(1)
Foreign currency exchange rate impact						—						—						(7)						(64)						—						—
Employer contributions						14						18						35						38						—						—
Plan participant contributions						—						—						8						7						1						1
Settlements						—						—						(4)						(7)						—						—
Benefits, expenses, taxes and premiums paid from plan assets						(57)						(66)						(32)						(39)						(12)						(10)
Fair value of plan assets at end of year						$	753					$	838					$	541					$	579					$	2					$	14
Funded status						$	(159)					$	(84)					$	19					$	17					$	(174)					$	(163)
Amounts recognized in the Balance Sheet consist of:
Other assets						$	—					$	26					$	115					$	125					$	—					$	—
Other accrued liabilities						(21)						(20)						(4)						(3)						(9)						(1)
Other noncurrent liabilities						(138)						(90)						(92)						(105)						(165)						(162)
Funded status						(159)						(84)						19						17						(174)						(163)
Accumulated other comprehensive loss (income)						237						172						(9)						(16)						7						(1)
Net amount recognized						$	78					$	88					$	10					$	1					$	(167)					$	(164)

Net periodic benefit costs and weighted-average assumptions

						Pension Plans																																				Other than Pension Plans
						U.S.																		International																		Post-retirement
($ in millions)						2023						2022						2021						2023						2022						2021						2023						2022						2021
Components of net periodic benefit cost:
Service cost						$	37					$	46					$	45					$	27					$	31					$	36					$	1					$	2					$	2
Interest cost						40						31						31						15						10						10						8						6						6
Expected return on assets						(57)						(55)						(53)						(17)						(13)						(14)						(1)						(1)						(1)
Amortization of:
Actuarial loss						3						15						20						(3)						2						4						—						1						—
Prior service cost						—						—						—						(1)						(1)						(1)						—						—						—
Settlements						—						—						—						1						—						—						—						—						—
Special termination benefits						—						—						—						—						4						10						—						—						—
Net periodic benefit cost						$	23					$	37					$	43					$	22					$	33					$	45					$	8					$	8					$	7
Assumptions used to determine benefit obligations at June 30(1):
Discount rate						5.20 – 5.30%						4.30 – 4.50%						2.50 – 3.00%						1.00 – 9.00%						0.75 – 9.00%						0.50 – 7.25%						5.00 – 10.75%						4.50 – 9.75%						2.70 – 9.00%
Rate of compensation increase						2.50 – 8.00%						2.50 – 8.00%						2.50 – 8.00%						1.75 – 5.00%						1.50 – 5.00%						1.00– 5.00%						N/A						N/A						N/A
Assumptions used to determine net periodic benefit cost for the year ended June 30(2):
Discount rate						4.30 – 4.50%						2.50 – 3.00%						2.50 – 3.00%						.75 – 9.00%						.50– 7.25%						.50 – 7.00%						4.50 – 9.75%						2.70 – 9.00%						2.70 – 9.00%
Expected return on assets						6.25		%				6.25		%				6.25		%				1.25 – 9.00%						1.25 – 7.25%						1.25 – 7.00%						6.25		%				6.25		%				6.25		%
Rate of compensation increase						2.50 – 8.00%						2.50 – 8.00%						2.50– 8.00%						— – 5.00%						— – 5.00%						1.00 – 5.50%						N/A						N/A						N/A

(1) The weighted-average assumptions used to determine benefit obligations at June 30, 2023 were as follows:

a.Discount rate - 5.29% (U.S.), 3.69% (International) and 5.19% (Other than Pension Plans, Post-retirement)

b.Rate of compensation increase - 2.50% - 8.00%, graded (U.S.), 3.08% (International) and N/A (Other than Pension Plans, Post-retirement)

The weighted-average assumptions used to determine benefit obligations at June 30, 2022 were as follows:

a.Discount rate - 4.48% (U.S.), 2.77% (International) and 4.68% (Other than Pension Plans, Post-retirement)

b.Rate of compensation increase - 2.50% - 8.00%, graded (U.S.), 2.96% (International) and N/A (Other than Pension Plans, Post-retirement)

(2) The weighted-average assumptions used to determine net periodic benefit cost for the year ended June 30, 2023 were as follows:

a.Discount rate - 4.48% (U.S.), 2.77% (International) and 4.68% (Other than Pension Plans, Post-retirement)

b.Expected return on assets - 6.25% (U.S.), 2.95% (International) and N/A (Other than Pension Plans, Post-retirement)

c.Rate of compensation increase - 2.50% - 8.00%, graded (U.S.), 2.96% (International) and N/A (Other than Pension Plans, Post-retirement)

The weighted-average assumptions used to determine net periodic benefit cost for the year ended June 30, 2022 were as follows:

a.Discount rate - 2.94% (U.S.), 1.59% (International) and 2.92% (Other than Pension Plans, Post-retirement)

b.Expected return on assets - 6.25% (U.S. and Other than Pension Plans, Post-retirement) and 2.19% (International)

c.Rate of compensation increase - 2.50% - 8.00%, graded (U.S.), 2.81% (International) and N/A (Other than Pension Plans, Post-retirement)

Amounts recognized in AOCI (before tax)

Amounts recognized in AOCI (before tax) as of June 30, 2023 are as follows:

						Pension Plans												Other than Pension Plans
(In millions)						U.S.						International						Post-retirement						Total
Net actuarial losses (gains), beginning of year						$	170					$	(13)					$	(1)					$	156
Actuarial losses recognized						68						4						7						79
Amortization and settlements included in net periodic benefit cost						(3)						2						—						(1)
Translation adjustments						—						—						1						1
Net actuarial losses (gains), end of year						235						(7)						7						235
Net prior service cost, beginning of year						2						(3)						—						(1)
Amortization included in net periodic benefit cost						—						1						—						1
Net prior service cost, end of year						2						(2)						—						—
Total amounts recognized in AOCI						$	237					$	(9)					$	7					$	235

Projected benefit obligation, accumulated benefit obligation and fair value of plan assets for the company's pension plans

The projected benefit obligation, accumulated benefit obligation and fair value of plan assets for the Company’s pension plans at June 30 are as follows:

						Pension Plans																																				Other than Pension Plans
						Retirement Growth Account												Restoration												International												Post-retirement
(In millions)						2023						2022						2023						2022						2023						2022						2023						2022
Projected benefit obligation						$	807					$	811					$	105					$	111					$	522					$	562					$	176					$	177
Accumulated benefit obligation						$	774					$	777					$	95					$	100					$	467					$	507					$	—					$	—
Fair value of plan assets						$	753					$	838					$	—					$	—					$	541					$	579					$	2					$	14

Expected cash flows

The expected cash flows for the Company’s pension and post-retirement plans are as follows:

						Pension Plans												Other than Pension Plans
(In millions)						U.S.						International						Post-retirement
Expected employer contributions for year ending June 30, 2024						$	72					$	28					$	9
Expected benefit payments for year ending June 30,
2024						75						39						11
2025						52						35						12
2026						53						34						12
2027						53						33						13
2028						55						34						14
Years 2029 – 2033						314						163						73

Target asset allocation

The Company’s target asset allocation at June 30, 2023 is as follows:

						Pension Plans												Other than Pension Plans
						U.S.						International						Post-retirement
Equity						39		%				19		%				39		%
Debt securities						50		%				59		%				50		%
Other						11		%				22		%				11		%
						100		%				100		%				100		%

Fair values of the company's pension and post-retirement plan assets by asset category

The following table presents the fair values of the Company’s pension and post-retirement plan assets by asset category as of June 30, 2023:

(In millions)						Level 1						Level 2						Level 3						Assets Measured at NAV						Total
Cash and cash equivalents						$	2					$	—					$	—					$	—					$	2
Short-term investment funds						—						12						—						3						15
Government and agency securities						—						139						—						—						139
Commingled funds						332						547						—						143						1,022
Insurance contracts						—						—						8						—						8
Interests in limited partnerships and hedge fund investments						—						—						—						110						110
Total						$	334					$	698					$	8					$	256					$	1,296

The following table presents the fair values of the Company’s pension and post-retirement plan assets by asset category as of June 30, 2022:

(In millions)						Level 1						Level 2						Level 3						Assets Measured at NAV						Total
Cash and cash equivalents						$	6					$	—					$	—					$	—					$	6
Short-term investment funds						—						59						—						6						65
Government and agency securities						—						103						—						—						103
Commingled funds						378						574						—						144						1,096
Insurance contracts						—						—						46						—						46
Interests in limited partnerships and hedge fund investments						—						—						—						115						115
Total						$	384					$	736					$	46					$	265					$	1,431

Changes in Level 3 plan assets

The following table presents the changes in Level 3 plan assets:

						June 30
(In millions)						2023						2022
Insurance Contracts
Balance at beginning of year						$	46					$	54
Actual return on plan assets:
Relating to assets still held at the reporting date						(2)						(3)
Purchases, sales, issuances and settlements, net						(35)						1
Foreign exchange impact						(1)						(6)
Balance at end of year						$	8					$	46

X

- Definition

Tabular disclosure of the changes in net actuarial (gains) losses, net prior service cost (credit) and net transition obligation (assets) recognized in accumulated other comprehensive income.

+ References

No definition available.

+ Details

Name:	el_ScheduleOfAmountsRecognizedInAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix:	el_
Data Type:	dtr-types1:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the expected employer contribution in the next fiscal year, benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter.

+ References

No definition available.

+ Details

Name:	el_ScheduleOfEmployerFutureContributionAndExpectedBenefitPaymentsTableTextBlock
Namespace Prefix:	el_
Data Type:	dtr-types1:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall.

+ References

No definition available.

+ Details

Name:	el_ScheduleOfFairValueOfPlanAssetsTableTextBlock
Namespace Prefix:	el_
Data Type:	dtr-types1:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net benefit costs and the assumptions used to determine the benefit obligation and net benefit cost for pension plans and/or other employee benefit plans.

+ References

No definition available.

+ Details

Name:	el_ScheduleOfNetBenefitCostsAndAssumptionsUsedTableTextBlock
Namespace Prefix:	el_
Data Type:	dtr-types1:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the projected benefit obligation, accumulated benefit obligation and fair value of plan assets of defined benefit plans of the reporting entity.

+ References

No definition available.

+ Details

Name:	el_ScheduleOfProjectedBenefitObligationAccumulatedBenefitObligationAndFairValueOfPlanAssetsTableTextBlock
Namespace Prefix:	el_
Data Type:	dtr-types1:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 715
-SubTopic 20
-Subparagraph (d)(5)
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

+ Details

Name:	us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the effect of fair value measurements using significant unobservable inputs (Level 3) on changes in plan assets of pension plans and/or other employee benefit plans for the period.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(02)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

+ Details

Name:	us-gaap_ScheduleOfEffectOfSignificantUnobservableInputsChangesInPlanAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 715
-SubTopic 20
-Subparagraph (h)
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

+ Details

Name:	us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration