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EQUITY AND REDEEMABLE NONCONTROLLING INTEREST (Tables) | 3 Months Ended
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Sep. 30, 2023
Equity [Abstract] |
Schedule of equity | Total Stockholders’ Equity – The Estée Lauder Companies Inc.
|  |  |  |  |  | Three Months Ended September 30
(In millions, except per share data) |  |  |  |  |  |  |  |  |  | 2023 |  | 2022
Common stock, beginning of the period |  |  |  |  |  |  |  |  |  | $ | 6 |  |  | $ | 6 |
Stock-based compensation |  |  |  |  |  |  |  |  |  | — |  |  | — |
Common stock, end of the period |  |  |  |  |  |  |  |  |  | 6 |  |  | 6 |
Paid-in capital, beginning of the period |  |  |  |  |  |  |  |  |  | 6,153 |  |  | 5,796 |
Common stock dividends |  |  |  |  |  |  |  |  |  | 2 |  |  | 1 |
Stock-based compensation |  |  |  |  |  |  |  |  |  | 94 |  |  | 78 |
Paid-in capital, end of the period |  |  |  |  |  |  |  |  |  | 6,249 |  |  | 5,875 |
Retained earnings, beginning of the period |  |  |  |  |  |  |  |  |  | 13,991 |  |  | 13,912 |
Common stock dividends |  |  |  |  |  |  |  |  |  | (238) |  |  | (216) |
Net earnings attributable to The Estée Lauder Companies Inc. |  |  |  |  |  |  |  |  |  | 31 |  |  | 489 |
Retained earnings, end of the period |  |  |  |  |  |  |  |  |  | 13,784 |  |  | 14,185 |
Accumulated other comprehensive loss, beginning of the period |  |  |  |  |  |  |  |  |  | (934) |  |  | (762) |
Other comprehensive loss attributable to The Estée Lauder Companies Inc. |  |  |  |  |  |  |  |  |  | (129) |  |  | (316) |
Accumulated other comprehensive loss, end of the period |  |  |  |  |  |  |  |  |  | (1,063) |  |  | (1,078) |
Treasury stock, beginning of the period |  |  |  |  |  |  |  |  |  | (13,631) |  |  | (13,362) |
Acquisition of treasury stock |  |  |  |  |  |  |  |  |  | — |  |  | (92) |
Stock-based compensation |  |  |  |  |  |  |  |  |  | (3) |  |  | (17) |
Treasury stock, end of the period |  |  |  |  |  |  |  |  |  | (13,634) |  |  | (13,471) |
Total equity |  |  |  |  |  |  |  |  |  | $ | 5,342 |  |  | $ | 5,517 |
Redeemable noncontrolling interest, beginning of the period |  |  |  |  |  |  |  |  |  | $ | 832 |  |  | $ | 842 |
Net earnings attributable to redeemable noncontrolling interest |  |  |  |  |  |  |  |  |  | 5 |  |  | 1 |
Translation adjustments |  |  |  |  |  |  |  |  |  | (11) |  |  | (35) |
Redeemable noncontrolling interest, end of the period |  |  |  |  |  |  |  |  |  | $ | 826 |  |  | $ | 808 |
Cash dividends declared per common share |  |  |  |  |  |  |  |  |  | $ | .66 |  |  | $ | .60 |
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 three months ended September 30, 2023:
Date Declared |  | Record Date |  | Payable Date |  | Amount per Share
August 17, 2023 |  | August 31, 2023 |  | September 15, 2023 |  | $ | .66 |
Schedule of components of AOCI, net of tax | The following table represents changes in AOCI, net of tax, by component for the three months ended September 30, 2023:
(In millions) |  | Net Cash Flow Hedge Gain (Loss) |  | Cross-Currency Swap Contracts (2) |  | Amounts Included in Net Periodic Benefit Cost |  | Translation Adjustments |  | Total
Balance at June 30, 2023 |  | $ | 59 |  |  | $ | (15) |  |  | $ | (177) |  |  | $ | (801) |  |  | $ | (934) |
OCI before reclassifications |  | 21 |  |  | 4 |  |  | 1 |  |  | (143) |  | (1) | (117) |
Amounts reclassified to Net earnings |  | (7) |  |  | (4) |  |  | (1) |  |  | — |  |  | (12) |
Net current-period OCI |  | 14 |  |  | — |  |  | — |  |  | (143) |  |  | (129) |
Balance at September 30, 2023 |  | $ | 73 |  |  | $ | (15) |  |  | $ | (177) |  |  | $ | (944) |  |  | $ | (1,063) |
(1)See Note 4 – Derivative Financial Instruments for gains (losses) relating to net investment hedges. (2)The gain recognized in AOCI, net of tax from cross-currency swap contracts represents the amount excluded from effectiveness testing.
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 months ended September 30, 2023 and 2022:
|  |  |  |  |  | Amount Reclassified from AOCI |  |  |  |  |  | Affected Line Item in Consolidated Statements of Earnings
|  |  |  | Three Months Ended September 30 |  |  |
(In millions) |  |  |  |  |  | 2023 |  | 2022 |  |  |  |  |
Gain (Loss) on Cash Flow Hedges |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts |  |  |  |  |  | $ | 9 |  |  | $ | 15 |  |  |  |  |  |  | Net sales
Provision for deferred taxes |  |  |  |  |  | (2) |  |  | (4) |  |  |  |  |  |  | Provision for income taxes
|  |  |  |  |  | 7 |  |  | 11 |  |  |  |  |  |  | Net earnings
Cross-Currency Swap Contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gain on cross-currency swap contracts |  |  |  |  |  | 5 |  |  | — |  |  |  |  |  |  | Selling, general and administrative
Provision for deferred taxes |  |  |  |  |  | (1) |  |  | — |  |  |  |  |  |  | Provision for income taxes
|  |  |  |  |  | 4 |  |  | — |  |  |  |  |  |  |
Retirement Plan and Other Retiree Benefit Adjustments |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amortization of actuarial loss |  |  |  |  |  | 1 |  |  | — |  |  |  |  |  |  | Other components of net periodic benefit cost (1)
Provision for deferred taxes |  |  |  |  |  | — |  |  | — |  |  |  |  |  |  | Provision for income taxes
|  |  |  |  |  | 1 |  |  | — |  |  |  |  |  |  | Net earnings
Total reclassification adjustments, net |  |  |  |  |  | $ | 12 |  |  | $ | 11 |  |  |  |  |  |  | Net earnings
(1)See Note 7 – Pension and Post-Retirement Benefit Plans for additional information.

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