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EQUITY AND REDEEMABLE NONCONTROLLING INTEREST | 9 Months Ended
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Mar. 31, 2025
Equity [Abstract] |
EQUITY AND REDEEMABLE NONCONTROLLING INTEREST | EQUITY AND REDEEMABLE NONCONTROLLING INTEREST Total Stockholders’ Equity – The Estée Lauder Companies Inc.
|  | Three Months Ended March 31, |  |  |  | Nine Months Ended March 31,
(In millions, except per share data) |  | 2025 |  | 2024 |  |  |  |  |  | 2025 |  | 2024
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 |  | 6,889 |  |  | 6,367 |  |  |  |  |  |  | 6,685 |  |  | 6,153 |
Common stock dividends |  | 2 |  |  | 2 |  |  |  |  |  |  | 6 |  |  | 5 |
Stock-based compensation |  | 75 |  |  | 96 |  |  |  |  |  |  | 275 |  |  | 307 |
Paid-in capital, end of the period |  | 6,966 |  |  | 6,465 |  |  |  |  |  |  | 6,966 |  |  | 6,465 |
Retained earnings, beginning of the period |  | 12,313 |  |  | 13,858 |  |  |  |  |  |  | 13,427 |  |  | 13,991 |
Common stock dividends |  | (128) |  |  | (238) |  |  |  |  |  |  | (496) |  |  | (715) |
Net earnings (loss) attributable to The Estée Lauder Companies Inc. |  | 159 |  |  | 330 |  |  |  |  |  |  | (587) |  |  | 674 |
Retained earnings, end of the period |  | 12,344 |  |  | 13,950 |  |  |  |  |  |  | 12,344 |  |  | 13,950 |
Accumulated other comprehensive loss, beginning of the period |  | (1,341) |  |  | (856) |  |  |  |  |  |  | (1,140) |  |  | (934) |
Other comprehensive earnings (loss) attributable to The Estée Lauder Companies Inc. |  | 68 |  |  | (158) |  |  |  |  |  |  | (133) |  |  | (80) |
Accumulated other comprehensive loss, end of the period |  | (1,273) |  |  | (1,014) |  |  |  |  |  |  | (1,273) |  |  | (1,014) |
Treasury stock, beginning of the period |  | (13,698) |  |  | (13,663) |  |  |  |  |  |  | (13,664) |  |  | (13,631) |
Stock-based compensation |  | — |  |  | — |  |  |  |  |  |  | (34) |  |  | (32) |
Treasury stock, end of the period |  | (13,698) |  |  | (13,663) |  |  |  |  |  |  | (13,698) |  |  | (13,663) |
Total equity |  | $ | 4,345 |  |  | $ | 5,744 |  |  |  |  |  |  | $ | 4,345 |  |  | $ | 5,744 |
Redeemable noncontrolling interest, beginning of the period |  | $ | — |  |  | $ | 850 |  |  |  |  |  |  | $ | — |  |  | $ | 832 |
Net earnings attributable to redeemable noncontrolling interest |  | — |  |  | 5 |  |  |  |  |  |  | — |  |  | 21 |
Translation adjustments |  | — |  |  | (15) |  |  |  |  |  |  | — |  |  | (13) |
Redeemable noncontrolling interest, end of the period |  | $ | — |  |  | $ | 840 |  |  |  |  |  |  | $ | — |  |  | $ | 840 |
Cash dividends declared per common share |  | $ | .35 |  |  | $ | .66 |  |  |  |  |  |  | $ | 1.36 |  |  | $ | 1.98 |
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, 2025:
Date Declared |  | Record Date |  | Payable Date |  | Amount per Share
August 16, 2024 |  | August 30, 2024 |  | September 16, 2024 |  | $ | .66 |
October 30, 2024 |  | November 29, 2024 |  | December 16, 2024 |  | $ | .35 |
February 3, 2025 |  | February 28, 2025 |  | March 17, 2025 |  | $ | .35 |
On April 30, 2025, a dividend was declared in the amount of $.35 per share on the Company’s Class A and Class B Common Stock. The dividend is payable in cash on June 16, 2025 to stockholders of record at the close of business on May 30, 2025. Common Stock Beginning in December 2022, the Company suspended the repurchase of shares of its Class A Common Stock under its publicly announced program. The Company may resume repurchases in the future. Accumulated Other Comprehensive Loss The following table represents changes in accumulated other comprehensive loss, net of tax, by component for the nine months ended March 31, 2025:
(In millions) |  | Net Cash Flow Hedge Gain (Loss) |  | Cross-Currency Swap Contracts - Fair Value Hedge(2) |  | Amounts Included in Net Periodic Benefit Cost |  | Translation Adjustments |  | Total
Balance at June 30, 2024 |  | $ | 57 |  |  | $ | (5) |  |  | $ | (183) |  |  | $ | (1,009) |  |  | $ | (1,140) |
OCI before reclassifications (3) |  | 5 |  |  | 22 |  |  | — |  |  | (130) |  | (1) | (103) |
Amounts reclassified to Net loss |  | (25) |  |  | (11) |  |  | 6 |  |  | — |  |  | (30) |
Net current-period OCI |  | (20) |  |  | 11 |  |  | 6 |  |  | (130) |  |  | (133) |
Balance at March 31, 2025 |  | $ | 37 |  |  | $ | 6 |  |  | $ | (177) |  |  | $ | (1,139) |  |  | $ | (1,273) |
(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. (3)The tax provision (benefit) included in Net Cash Flow Hedge Gain (Loss), Cross-Currency Swap Contracts - Fair Value Hedge and Translation Adjustments are $1 million, $6 million, and $(3) million, respectively. The following table represents the effects of reclassification adjustments from AOCI into net earnings (loss) for the three and nine months ended March 31, 2025 and 2024:
|  | Amount Reclassified from AOCI |  |  |  |  |  | Affected Line Item in Consolidated Statements of Earnings (Loss)
|  | Three Months Ended March 31, |  | Nine Months Ended March 31, |  |  |
(In millions) |  | 2025 |  | 2024 |  | 2025 |  | 2024 |  |  |  |  |
Gain on Cash Flow Hedges |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | 7 |  |  | $ | 15 |  |  | $ | 31 |  |  | $ | 36 |  |  |  |  |  |  | Net sales
Interest rate contracts |  | — |  |  | — |  |  | 1 |  |  | (1) |  |  |  |  |  |  | Interest expense
Total gain on cash flow hedges, before tax |  | 7 |  |  | 15 |  |  | 32 |  |  | 35 |  |  |  |  |  |  |
Provision for income taxes |  | (1) |  |  | (5) |  |  | (7) |  |  | (9) |  |  |  |  |  |  | Provision (benefit) for income taxes
Total gain on cash flow hedges, net of tax |  | 6 |  |  | 10 |  |  | 25 |  |  | 26 |  |  |  |  |  |  | Net earnings (loss)
Cross-Currency Swap Contracts - Fair Value Hedge |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gain on cross-currency swap contracts, before tax |  | 5 |  |  | 5 |  |  | 14 |  |  | 14 |  |  |  |  |  |  | Selling, general and administrative
Provision for income taxes |  | (1) |  |  | (1) |  |  | (3) |  |  | (3) |  |  |  |  |  |  | Provision (benefit) for income taxes
Total gain on cross-currency swap contracts - fair value hedge, net of tax |  | 4 |  |  | 4 |  |  | 11 |  |  | 11 |  |  |  |  |  |  | Net earnings (loss)
Retirement Plan and Other Retiree Benefit Adjustments |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amortization of prior service cost |  | 1 |  |  | 2 |  |  | 4 |  |  | 2 |  |  |  |  |  |  | Other components of net periodic benefit cost
Amortization of actuarial gain (loss) |  | (4) |  |  | 1 |  |  | (11) |  |  | 3 |  |  |  |  |  |  | Other components of net periodic benefit cost
Total retirement plan and other retiree benefit adjustments, before tax |  | (3) |  |  | 3 |  |  | (7) |  |  | 5 |  |  |  |  |  |  |
Benefit (provision) for income taxes |  | — |  |  | (1) |  |  | 1 |  |  | (2) |  |  |  |  |  |  | Provision (benefit) for income taxes
Total retirement plan and other retiree benefit adjustments, net of tax |  | (3) |  |  | 2 |  |  | (6) |  |  | 3 |  |  |  |  |  |  | Net earnings (loss)
Total reclassification adjustments, net of tax |  | $ | 7 |  |  | $ | 16 |  |  | $ | 30 |  |  | $ | 40 |  |  |  |  |  |  | Net earnings (loss)

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