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EQUITY AND REDEEMABLE NONCONTROLLING INTEREST (Tables) | 9 Months Ended
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Mar. 31, 2024
Equity [Abstract] |
Schedule of equity | Total Stockholders’ Equity – The Estée Lauder Companies Inc.
|  | Three Months Ended March 31 |  |  |  | Nine Months Ended March 31
(In millions, except per share data) |  | 2024 |  | 2023 |  |  |  |  |  | 2024 |  | 2023
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 |  | 6,367 |  |  | 6,000 |  |  |  |  |  |  | 6,153 |  |  | 5,796 |
Common stock dividends |  | 2 |  |  | 1 |  |  |  |  |  |  | 5 |  |  | 3 |
Stock-based compensation |  | 96 |  |  | 102 |  |  |  |  |  |  | 307 |  |  | 304 |
Paid-in capital, end of the period |  | 6,465 |  |  | 6,103 |  |  |  |  |  |  | 6,465 |  |  | 6,103 |
Retained earnings, beginning of the period |  | 13,858 |  |  | 14,342 |  |  |  |  |  |  | 13,991 |  |  | 13,912 |
Common stock dividends |  | (238) |  |  | (237) |  |  |  |  |  |  | (715) |  |  | (690) |
Net earnings attributable to The Estée Lauder Companies Inc. |  | 330 |  |  | 156 |  |  |  |  |  |  | 674 |  |  | 1,039 |
Retained earnings, end of the period |  | 13,950 |  |  | 14,261 |  |  |  |  |  |  | 13,950 |  |  | 14,261 |
Accumulated other comprehensive loss, beginning of the period |  | (856) |  |  | (829) |  |  |  |  |  |  | (934) |  |  | (762) |
Other comprehensive loss attributable to The Estée Lauder Companies Inc. |  | (158) |  |  | (46) |  |  |  |  |  |  | (80) |  |  | (113) |
Accumulated other comprehensive loss, end of the period |  | (1,014) |  |  | (875) |  |  |  |  |  |  | (1,014) |  |  | (875) |
Treasury stock, beginning of the period |  | (13,663) |  |  | (13,617) |  |  |  |  |  |  | (13,631) |  |  | (13,362) |
Acquisition of treasury stock |  | — |  |  | — |  |  |  |  |  |  | — |  |  | (184) |
Stock-based compensation |  | — |  |  | (1) |  |  |  |  |  |  | (32) |  |  | (72) |
Treasury stock, end of the period |  | (13,663) |  |  | (13,618) |  |  |  |  |  |  | (13,663) |  |  | (13,618) |
Total equity |  | $ | 5,744 |  |  | $ | 5,877 |  |  |  |  |  |  | $ | 5,744 |  |  | $ | 5,877 |
Redeemable noncontrolling interest, beginning of the period |  | $ | 850 |  |  | $ | 819 |  |  |  |  |  |  | $ | 832 |  |  | $ | 842 |
Net earnings (loss) attributable to redeemable noncontrolling interest |  | 5 |  |  | (1) |  |  |  |  |  |  | 21 |  |  | 3 |
Translation adjustments |  | (15) |  |  | 1 |  |  |  |  |  |  | (13) |  |  | (26) |
Redeemable noncontrolling interest, end of the period |  | $ | 840 |  |  | $ | 819 |  |  |  |  |  |  | $ | 840 |  |  | $ | 819 |
Cash dividends declared per common share |  | $ | .66 |  |  | $ | .66 |  |  |  |  |  |  | $ | 1.98 |  |  | $ | 1.92 |
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 nine months ended March 31, 2024:
Date Declared |  | Record Date |  | Payable Date |  | Amount per Share
August 17, 2023 |  | August 31, 2023 |  | September 15, 2023 |  | $ | .66 |
October 31, 2023 |  | November 30, 2023 |  | December 15, 2023 |  | $ | .66 |
February 2, 2024 |  | February 29, 2024 |  | March 15, 2024 |  | $ | .66 |
Schedule of components of AOCI, net of tax | The following table represents changes in accumulated other comprehensive loss, net of tax, by component for the nine months ended March 31, 2024:
(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 (3) |  | 21 |  |  | 19 |  |  | 23 |  |  | (103) |  | (1) | (40) |
Amounts reclassified to Net earnings |  | (26) |  |  | (11) |  |  | (3) |  |  | — |  |  | (40) |
Net current-period OCI |  | (5) |  |  | 8 |  |  | 20 |  |  | (103) |  |  | (80) |
Balance at March 31, 2024 |  | $ | 54 |  |  | $ | (7) |  |  | $ | (157) |  |  | $ | (904) |  |  | $ | (1,014) |
(1)See Note 5 – 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. (3)The tax provision included in Net Cash Flow Hedge Gain (Loss), Cross-Currency Swap Contracts, Amounts Included in Net Periodic Benefit Cost and Translation Adjustments are $7 million, $5 million, $5 million, and $26 million, respectively.
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 nine months ended March 31, 2024 and 2023:
|  | Amount Reclassified from AOCI |  |  |  |  |  | Affected Line Item in Consolidated Statements of Earnings
|  | Three Months Ended March 31 |  | Nine Months Ended March 31 |  |  |
(In millions) |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  |  |  |  |
Gain (Loss) on Cash Flow Hedges |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | 15 |  |  | $ | 22 |  |  | $ | 36 |  |  | $ | 59 |  |  |  |  |  |  | Net sales
Interest rate-related derivatives |  | — |  |  | (1) |  |  | (1) |  |  | (1) |  |  |  |  |  |  | Interest expense
|  | 15 |  |  | 21 |  |  | 35 |  |  | 58 |  |  |  |  |  |  |
Provision for income taxes |  | (5) |  |  | (5) |  |  | (9) |  |  | (14) |  |  |  |  |  |  | Provision for income taxes
|  | 10 |  |  | 16 |  |  | 26 |  |  | 44 |  |  |  |  |  |  | Net earnings
Cross-Currency Swap Contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gain on cross-currency swap contracts |  | 5 |  |  | 4 |  |  | 14 |  |  | 4 |  |  |  |  |  |  | Selling, general and administrative
Provision for income taxes |  | (1) |  |  | (1) |  |  | (3) |  |  | (1) |  |  |  |  |  |  | Provision for income taxes
|  | 4 |  |  | 3 |  |  | 11 |  |  | 3 |  |  |  |  |  |  | Net earnings
Retirement Plan and Other Retiree Benefit Adjustments |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amortization of prior service cost |  | 2 |  |  | — |  |  | 2 |  |  | — |  |  |  |  |  |  | Other components of net periodic benefit cost (1)
Amortization of actuarial gain |  | 1 |  |  | — |  |  | 3 |  |  | — |  |  |  |  |  |  | Other components of net periodic benefit cost (1)
|  | 3 |  |  | — |  |  | 5 |  |  | — |  |  |  |  |  |  |
Provision for income taxes |  | (1) |  |  | — |  |  | (2) |  |  | — |  |  |  |  |  |  | Provision for income taxes
|  | 2 |  |  | — |  |  | 3 |  |  | — |  |  |  |  |  |  | Net earnings
Total reclassification adjustments, net |  | $ | 16 |  |  | $ | 19 |  |  | $ | 40 |  |  | $ | 47 |  |  |  |  |  |  | Net earnings
(1)See Note 8 – Pension and Post-Retirement Benefit Plans for additional information.

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