REVENUE RECOGNITION (Tables)

12 Months Ended

Jun. 30, 2020

Revenue from Contract with Customer [Abstract]

Schedule of significant changes in Deferred Revenue

Significant changes in deferred revenue during the period are as follows:

(In millions)	June 30, 2020
Balance at June 30, 2019	$	361
Revenue recognized that was included in the deferred revenue balance at the beginning of the period	(271)
Revenue deferred during the period	189
Balance at June 30, 2020	$	279

Adoption of ASC 606

The following tables summarize impacts of the adoption of ASC 606 on the Company's fiscal 2019 consolidated financial statements:

Consolidated Statement of Earnings
	June 30, 2019
(In millions, except per share data)	As Reported		Impact		Prior to the adoption of ASC 606
Net sales	$	14,863	$	49	$	14,912
Cost of sales	3,387		(300)		3,087
Gross profit	11,476		349		11,825
Selling, general and administrative	8,857		370		9,227
Operating income	2,313		(21)		2,292
Provision for income taxes	513		(5)		508
Net earnings attributable to The Estée Lauder Companies Inc.	1,785		(16)		1,769
Net earnings attributable to The Estée Lauder Companies Inc. per common share
Basic	$	4.91	$	(.04)	$	4.87
Diluted	$	4.82	$	(.04)	$	4.78
Consolidated Balance Sheet
	June 30, 2019
(In millions)	As Reported		Impact		Prior to the adoption of ASC 606
Accounts receivable, net	$	1,831	$	(202)	$	1,629
Inventory and promotional merchandise, net	2,006		(21)		1,985
Other assets	805		(65)		740
Total assets	13,156		(288)		12,868
Other accrued liabilities	2,599		(452)		2,147
Other noncurrent liabilities	1,244		(47)		1,197
Total liabilities	8,745		(499)		8,246
Retained earnings	9,984		213		10,197
Accumulated other comprehensive loss	(563)		(2)		(565)
Total stockholders' equity - The Estée Lauder Companies Inc.	4,386		211		4,597
Consolidated Statement of Cash Flows
	June 30, 2019
(In millions)	As Reported		Impact		Prior to the adoption of ASC 606
Net earnings	$	1,794	$	(16)	$	1,778
Changes in operating assets and liabilities
Increase in accounts receivable, net	(169)		5		(164)
Increase in inventory and promotional merchandise, net	(375)		(6)		(381)
Increase in other assets, net	(62)		(5)		(67)
Increase in other accrued and noncurrent liabilities	285		22		307
Net cash flows provided by operating activities	2,517		—		2,517