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SEGMENT DATA AND RELATED INFORMATION (Tables) | 12 Months Ended
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Jun. 30, 2024
Segment Reporting [Abstract] |
Schedule of segment data and related information |
|  | Year Ended June 30
(In millions) |  | 2024 |  | 2023 |  | 2022
PRODUCT CATEGORY DATA |  |  |  |  |  |
Net sales: |  |  |  |  |  |
Skin Care |  | $ | 7,908 |  |  | $ | 8,249 |  |  | $ | 9,902 |
Makeup |  | 4,470 |  |  | 4,532 |  |  | 4,670 |
Fragrance |  | 2,487 |  |  | 2,451 |  |  | 2,491 |
Hair Care |  | 629 |  |  | 652 |  |  | 631 |
Other |  | 115 |  |  | 53 |  |  | 47 |
|  | 15,609 |  |  | 15,937 |  |  | 17,741 |
Returns associated with restructuring and other activities |  | (1) |  |  | (27) |  |  | (4) |
Net sales |  | $ | 15,608 |  |  | $ | 15,910 |  |  | $ | 17,737 |
Depreciation and amortization: |  |  |  |  |  |
Skin Care |  | $ | 418 |  |  | $ | 383 |  |  | $ | 404 |
Makeup |  | 236 |  |  | 211 |  |  | 213 |
Fragrance |  | 132 |  |  | 117 |  |  | 89 |
Hair Care |  | 33 |  |  | 31 |  |  | 20 |
Other |  | 6 |  |  | 2 |  |  | 1 |
|  | $ | 825 |  |  | $ | 744 |  |  | $ | 727 |
Operating income (loss) before charges associated with restructuring and other activities: |  |  |  |  |  |
Skin Care |  | $ | 735 |  |  | $ | 1,277 |  |  | $ | 2,776 |
Makeup |  | 93 |  |  | (21) |  |  | 126 |
Fragrance |  | 265 |  |  | 370 |  |  | 441 |
Hair Care |  | (52) |  |  | (36) |  |  | (28) |
Other |  | 53 |  |  | 4 |  |  | (1) |
|  | 1,094 |  |  | 1,594 |  |  | 3,314 |
Reconciliation: |  |  |  |  |  |
Charges associated with restructuring and other activities |  | (124) |  |  | (85) |  |  | (144) |
Interest expense |  | (378) |  |  | (255) |  |  | (167) |
Interest income and investment income, net |  | 167 |  |  | 131 |  |  | 30 |
Other components of net periodic benefit cost |  | 13 |  |  | 12 |  |  | 2 |
Other income, net |  | — |  |  | — |  |  | 1 |
Earnings before income taxes |  | $ | 772 |  |  | $ | 1,397 |  |  | $ | 3,036 |
|  | Year Ended June 30
(In millions) |  | 2024 |  | 2023 |  | 2022
GEOGRAPHIC DATA(1) |  |  |  |  |  |
Net sales: |  |  |  |  |  |
The Americas |  | $ | 4,581 |  |  | $ | 4,518 |  |  | $ | 4,623 |
Europe, the Middle East & Africa |  | 6,140 |  |  | 6,225 |  |  | 7,681 |
Asia/Pacific |  | 4,888 |  |  | 5,194 |  |  | 5,437 |
|  | 15,609 |  |  | 15,937 |  |  | 17,741 |
Returns associated with restructuring and other activities |  | (1) |  |  | (27) |  |  | (4) |
Net sales |  | $ | 15,608 |  |  | $ | 15,910 |  |  | $ | 17,737 |
Operating income (loss): |  |  |  |  |  |
The Americas |  | $ | 34 |  |  | $ | (73) |  |  | $ | 1,159 |
Europe, the Middle East & Africa |  | 836 |  |  | 843 |  |  | 1,360 |
Asia/Pacific |  | 224 |  |  | 824 |  |  | 795 |
|  | 1,094 |  |  | 1,594 |  |  | 3,314 |
Charges associated with restructuring and other activities |  | (124) |  |  | (85) |  |  | (144) |
Operating income |  | $ | 970 |  |  | $ | 1,509 |  |  | $ | 3,170 |
Total assets: |  |  |  |  |  |
The Americas |  | $ | 13,985 |  |  | $ | 13,292 |  |  | $ | 10,989 |
Europe, the Middle East & Africa |  | 4,310 |  |  | 5,985 |  |  | 5,781 |
Asia/Pacific |  | 3,382 |  |  | 4,138 |  |  | 4,140 |
|  | $ | 21,677 |  |  | $ | 23,415 |  |  | $ | 20,910 |
Long-lived assets(2): |  |  |  |  |  |
The Americas |  | $ | 2,524 |  |  | $ | 2,593 |  |  | $ | 2,609 |
Europe, the Middle East & Africa |  | 1,224 |  |  | 1,202 |  |  | 1,133 |
Asia/Pacific |  | 1,221 |  |  | 1,181 |  |  | 857 |
|  | $ | 4,969 |  |  | $ | 4,976 |  |  | $ | 4,599 |
(1)The net sales from the Company’s travel retail business are included in the Europe, the Middle East & Africa region, and operating income attributable to these net sales are included in that region and in The Americas. The exception is for net sales and operating income of Dr.Jart+ in the travel retail channel in Korea that are reflected in Korea in the Asia/Pacific region. (2)Includes property, plant and equipment, net and operating lease ROU assets.
Schedule of Error Corrections and Prior Period Adjustments | The table below presents the effect of the corrections for fiscal years ended June 30, 2023 and 2022.
| Year Ended June 30, 2023 |  |  |  | Year Ended June 30, 2022
(In millions) | As Previously Reported | Adjustments | As Adjusted |  |  |  |  |  | As Previously Reported | Adjustments | As Adjusted
PRODUCT CATEGORY DATA |  |  |  |  |  |  |  |  |  |  |
Net sales: |  |  |  |  |  |  |  |  |  |  |
Skin Care | $ | 8,202 |  | $ | 47 |  | $ | 8,249 |  |  |  |  |  |  | $ | 9,886 |  | $ | 16 |  | $ | 9,902 |
Makeup | 4,516 |  | 16 |  | 4,532 |  |  |  |  |  |  | 4,667 |  | 3 |  | 4,670 |
Fragrance | 2,512 |  | (61) |  | 2,451 |  |  |  |  |  |  | 2,508 |  | (17) |  | 2,491 |
Hair Care | 653 |  | (1) |  | 652 |  |  |  |  |  |  | 631 |  | — |  | 631 |
Other | 54 |  | (1) |  | 53 |  |  |  |  |  |  | 49 |  | (2) |  | 47 |
| 15,937 |  | — |  | 15,937 |  |  |  |  |  |  | 17,741 |  | — |  | 17,741 |
Returns associated with restructuring and other activities | (27) |  | — |  | (27) |  |  |  |  |  |  | (4) |  | — |  | (4) |
Net sales | $ | 15,910 |  | $ | — |  | $ | 15,910 |  |  |  |  |  |  | $ | 17,737 |  | $ | — |  | $ | 17,737 |
Operating income (loss): |  |  |  |  |  |  |  |  |  |  |
Skin Care | $ | 1,204 |  | $ | 73 |  | $ | 1,277 |  |  |  |  |  |  | $ | 2,753 |  | $ | 23 |  | $ | 2,776 |
Makeup | (22) |  | 1 |  | (21) |  |  |  |  |  |  | 133 |  | (7) |  | 126 |
Fragrance | 440 |  | (70) |  | 370 |  |  |  |  |  |  | 456 |  | (15) |  | 441 |
Hair Care | (34) |  | (2) |  | (36) |  |  |  |  |  |  | (28) |  | — |  | (28) |
Other | 6 |  | (2) |  | 4 |  |  |  |  |  |  | 0 |  | (1) |  | (1) |
| 1,594 |  | — |  | 1,594 |  |  |  |  |  |  | 3,314 |  | — |  | 3,314 |
Charges associated with restructuring and other activities | (85) |  | — |  | (85) |  |  |  |  |  |  | (144) |  | — |  | (144) |
Operating income | $ | 1,509 |  | $ | — |  | $ | 1,509 |  |  |  |  |  |  | $ | 3,170 |  | $ | — |  | $ | 3,170 |

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