XML 174 R30.htm IDEA: XBRL DOCUMENT v3.22.4

EQUITY AND REDEEMABLE NONCONTROLLING INTEREST (Tables)

6 Months Ended

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.

X

- Definition

Tabular disclosure of information related to dividends declared, including paid and unpaid dividends.

+ References

No definition available.

+ Details

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

X

- References

No definition available.

+ Details

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

X

- Definition

Tabular disclosure of information about items reclassified out of accumulated other comprehensive income (loss).

+ References

No definition available.

+ Details

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

X

- Definition

Tabular disclosure of the components of accumulated other comprehensive income (loss).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14A
-URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669686-108580

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 20
-URI https://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900

+ Details

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

X

- Definition

Tabular disclosure of changes in the separate accounts comprising stockholders' equity (in addition to retained earnings) and of the changes in the number of shares of equity securities during at least the most recent annual fiscal period and any subsequent interim period presented is required to make the financial statements sufficiently informative if both financial position and results of operations are presented.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21463-112644

+ Details

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