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EQUITY AND REDEEMABLE NONCONTROLLING INTEREST (Tables) | 6 Months Ended
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Dec. 31, 2022
Equity [Abstract] |
Schedule of equity | Total Stockholders’ Equity – The Estée Lauder Companies Inc.
|  | Three Months Ended December 31 |  |  |  | Six Months Ended December 31
(In millions) |  | 2022 |  | 2021 |  |  |  |  |  | 2022 |  | 2021
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 |  | 5,875 |  |  | 5,450 |  |  |  |  |  |  | 5,796 |  |  | 5,335 |
Common stock dividends |  | 1 |  |  | — |  |  |  |  |  |  | 2 |  |  | 1 |
Stock-based compensation |  | 124 |  |  | 155 |  |  |  |  |  |  | 202 |  |  | 269 |
Paid-in capital, end of the period |  | 6,000 |  |  | 5,605 |  |  |  |  |  |  | 6,000 |  |  | 5,605 |
Retained earnings, beginning of the period |  | 14,185 |  |  | 12,864 |  |  |  |  |  |  | 13,912 |  |  | 12,244 |
Common stock dividends |  | (237) |  |  | (217) |  |  |  |  |  |  | (453) |  |  | (410) |
Net earnings attributable to The Estée Lauder Companies Inc. |  | 394 |  |  | 1,088 |  |  |  |  |  |  | 883 |  |  | 1,780 |
Cumulative effect of adoption of new accounting standards |  | — |  |  | — |  |  |  |  |  |  | — |  |  | 121 |
Retained earnings, end of the period |  | 14,342 |  |  | 13,735 |  |  |  |  |  |  | 14,342 |  |  | 13,735 |
Accumulated other comprehensive loss, beginning of the period |  | (1,078) |  |  | (625) |  |  |  |  |  |  | (762) |  |  | (470) |
Other comprehensive income (loss) attributable to The Estée Lauder Companies Inc. |  | 249 |  |  | (21) |  |  |  |  |  |  | (67) |  |  | (176) |
Accumulated other comprehensive loss, end of the period |  | (829) |  |  | (646) |  |  |  |  |  |  | (829) |  |  | (646) |
Treasury stock, beginning of the period |  | (13,471) |  |  | (11,614) |  |  |  |  |  |  | (13,362) |  |  | (11,058) |
Acquisition of treasury stock |  | (92) |  |  | (763) |  |  |  |  |  |  | (184) |  |  | (1,282) |
Stock-based compensation |  | (54) |  |  | (105) |  |  |  |  |  |  | (71) |  |  | (142) |
Treasury stock, end of the period |  | (13,617) |  |  | (12,482) |  |  |  |  |  |  | (13,617) |  |  | (12,482) |
Total stockholders’ equity – The Estée Lauder Companies Inc. |  | 5,902 |  |  | 6,218 |  |  |  |  |  |  | 5,902 |  |  | 6,218 |
Noncontrolling interests, beginning of the period |  | — |  |  | 34 |  |  |  |  |  |  | — |  |  | 34 |
Net earnings attributable to noncontrolling interests |  | — |  |  | 4 |  |  |  |  |  |  | — |  |  | 5 |
Translation adjustments and other, net |  | — |  |  | (4) |  |  |  |  |  |  | — |  |  | (5) |
Noncontrolling interests, end of the period |  | — |  |  | 34 |  |  |  |  |  |  | — |  |  | 34 |
Total equity |  | $ | 5,902 |  |  | $ | 6,252 |  |  |  |  |  |  | $ | 5,902 |  |  | $ | 6,252 |
Redeemable noncontrolling interest, beginning of the period |  | $ | 808 |  |  | $ | 842 |  |  |  |  |  |  | $ | 842 |  |  | $ | 857 |
Net earnings (loss) attributable to redeemable noncontrolling interest |  | 3 |  |  | (2) |  |  |  |  |  |  | 4 |  |  | — |
Translation adjustments |  | 8 |  |  | — |  |  |  |  |  |  | (27) |  |  | (17) |
Redeemable noncontrolling interest, end of the period |  | $ | 819 |  |  | $ | 840 |  |  |  |  |  |  | $ | 819 |  |  | $ | 840 |
Cash dividends declared per common share |  | $ | .66 |  |  | $ | .60 |  |  |  |  |  |  | $ | 1.26 |  |  | $ | 1.13 |
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, 2022:
Date Declared |  | Record Date |  | Payable Date |  | Amount per Share
August 17, 2022 |  | August 31, 2022 |  | September 15, 2022 |  | $ | .60 |
November 1, 2022 |  | November 30, 2022 |  | December 15, 2022 |  | $ | .66 |
Schedule of components of AOCI, net of tax | The following table represents changes in AOCI, net of tax, by component for the six months ended December 31, 2022:
(In millions) |  | Net Cash Flow Hedge Gain (Loss) |  | Amounts Included in Net Periodic Benefit Cost |  | Translation Adjustments |  | Total
Balance at June 30, 2022 |  | $ | 68 |  |  | $ | (114) |  |  | $ | (716) |  |  | $ | (762) |
OCI before reclassifications |  | 23 |  |  | (1) |  | (1) | (61) |  | (2) | (39) |
Amounts reclassified to Net earnings |  | (28) |  |  | — |  |  | — |  |  | (28) |
Net current-period OCI |  | (5) |  |  | (1) |  |  | (61) |  |  | (67) |
Balance at December 31, 2022 |  | $ | 63 |  |  | $ | (115) |  |  | $ | (777) |  |  | $ | (829) |
(1)Consists of foreign currency translation losses. (2)See Note 4 – 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 for the three and six months ended December 31, 2022 and 2021:
|  | Amount Reclassified from AOCI |  |  |  |  |  | Affected Line Item in Consolidated Statements of Earnings
|  | Three Months Ended December 31 |  | Six Months Ended December 31 |  |  |
(In millions) |  | 2022 |  | 2021 |  | 2022 |  | 2021 |  |  |  |  |
Gain (Loss) on Cash Flow Hedges |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | 22 |  |  | $ | (2) |  |  | $ | 37 |  |  | $ | (8) |  |  |  |  |  |  | Net sales
Interest rate-related derivatives |  | — |  |  | (1) |  |  | — |  |  | (1) |  |  |  |  |  |  | Interest expense
|  | 22 |  |  | (3) |  |  | 37 |  |  | (9) |  |  |  |  |  |  |
Benefit (provision) for deferred taxes |  | (5) |  |  | — |  |  | (9) |  |  | 2 |  |  |  |  |  |  | Provision for income taxes
|  | 17 |  |  | (3) |  |  | 28 |  |  | (7) |  |  |  |  |  |  | Net earnings
Retirement Plan and Other Retiree Benefit Adjustments |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amortization of prior service cost |  | — |  |  | 1 |  |  | — |  |  | 1 |  |  |  |  |  |  | Other components of net periodic benefit cost (1)
Amortization of actuarial loss |  | — |  |  | (5) |  |  | — |  |  | (9) |  |  |  |  |  |  | Other components of net periodic benefit cost (1)
|  | — |  |  | (4) |  |  | — |  |  | (8) |  |  |  |  |  |  |
Benefit for deferred taxes |  | — |  |  | 1 |  |  | — |  |  | 2 |  |  |  |  |  |  | Provision for income taxes
|  | — |  |  | (3) |  |  | — |  |  | (6) |  |  |  |  |  |  | Net earnings
Total reclassification adjustments, net |  | $ | 17 |  |  | $ | (6) |  |  | $ | 28 |  |  | $ | (13) |  |  |  |  |  |  | Net earnings
(1)See Note 7 – Pension and Post-Retirement Benefit Plans for additional information.

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