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SEGMENT DATA AND RELATED INFORMATION
 6 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
SEGMENT DATA AND RELATED INFORMATION SEGMENT DATA AND RELATED INFORMATION
Reportable operating segments include components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker (the “Chief Executive”) in deciding how to allocate resources and in assessing performance. Although the Company operates in one business segment, beauty products, management also evaluates performance on a product category basis. Product category performance is measured based upon net sales before returns associated with restructuring and other activities, and operating income (loss) before charges associated with restructuring and other activities. Returns and charges associated with restructuring and other activities are not allocated to the Company's product categories or geographic regions because they are centrally directed and controlled, are not included in internal measures of product category or geographic region performance and result from activities that are deemed Company-wide initiatives to redesign, resize and reorganize select areas of the business.
The accounting policies for the Company’s reportable segments are substantially the same as those for the consolidated financial statements, as described in the notes to consolidated financial statements in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2023. The assets and liabilities of the Company are managed centrally and are reported internally in the same manner as the consolidated financial statements; thus, no additional information is produced for the Chief Executive or included herein. There has been no significant variance in the total or long-lived asset values associated with the Company’s segment data since June 30, 2023.
During the fiscal 2024 second quarter, the Company identified and corrected prior-period misclassifications of net sales and operating income between certain of the Company’s product categories in its segment footnote. As a result, product category net sales and operating income have been adjusted from the amounts previously reported for the three and six months ended December 31, 2022 for comparability purposes. Presentation of product category net sales and operating income for three and nine months ended March 31, 2023, and fiscal years ended June 30, 2023 and 2022, will also be adjusted to reflect the misclassifications arising in those periods for comparability purposes within the prospective filings. The misclassifications had no impact on the current-period or prior-period consolidated statements of earnings, consolidated statements of comprehensive income, consolidated balance sheets, or the consolidated statements of cash flows, and the Company determined that the impact on the Company’s current-period and previously issued financial statements for the respective periods was not material.
Three Months Ended
December 31		Six Months Ended
December 31
(In millions)2023202220232022
PRODUCT CATEGORY DATA
Net sales:
Skin Care$2,173 $2,427 $3,813 $4,539 
Makeup1,167 1,263 2,229 2,320 
Fragrance737 734 1,373 1,330 
Hair Care173 183 321 340 
Other30 14 62 27 
4,280 4,621 7,798 8,556 
Returns associated with restructuring and other activities(1)(1)(1)(6)
Net sales$4,279 $4,620 $7,797 $8,550 
Operating income (loss) before charges associated with restructuring and other activities:
Skin Care$415 $433 $452 $969 
Makeup30 (24)(10)(4)
Fragrance131 153 238 277 
Hair Care(3)4 (25)(8)
Other9 (1)27 (2)
582 565 682 1,232 
Reconciliation:
Charges associated with restructuring and other activities(8)(9)(10)(15)
Interest expense(98)(52)(193)(98)
Interest income and investment income, net40 26 81 41 
Other components of net periodic benefit cost3 2 5 5 
Earnings before income taxes$519 $532 $565 $1,165 
GEOGRAPHIC DATA(1)
Net sales:
The Americas$1,242 $1,235 $2,450 $2,358 
Europe, the Middle East & Africa1,589 1,816 2,841 3,498 
Asia/Pacific1,449 1,570 2,507 2,700 
4,280 4,621 7,798 8,556 
Returns associated with restructuring and other activities(1)(1)(1)(6)
Net sales$4,279 $4,620 $7,797 $8,550 
Operating income (loss):
The Americas$(55)$(85)$(237)$40 
Europe, the Middle East & Africa379 409 523 743 
Asia/Pacific258 241 396 449 
582 565 682 1,232 
Charges associated with restructuring and other activities(8)(9)(10)(15)
Operating income$574 $556 $672 $1,217 
(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.
The tables below present the effect of the corrections for the three and six months ended December, 31, 2022, the three and nine months ended March 31, 2023, and fiscal years ended June 30, 2023 and 2022.

Three Months Ended
December 31, 2022
Six Months Ended
December 31, 2022
(In millions)
As Previously Reported
Adjustments
As Adjusted
As Previously Reported
Adjustments
As Adjusted
PRODUCT CATEGORY DATA
Net sales:
Skin Care$2,382 $45 $2,427 $4,486 $53 $4,539 
Makeup1,268 (5)1,263 2,320 $— 2,320 
Fragrance775 (41)734 1,382 (52)1,330 
Hair Care182 1 183 340 $— 340 
Other14 — 14 28 (1)27 
4,621 $— 4,621 8,556 $— 8,556 
Returns associated with restructuring and other activities(1)$— (1)(6)$— (6)
Net sales$4,620 $— $4,620 $8,550 $— $8,550 
Operating income (loss):
Skin Care$421 $12 $433 $951 $18 $969 
Makeup(37)13 (24)(21)17 (4)
Fragrance177 (24)153 310 (33)277 
Hair Care5 (1)4 (7)(1)(8)
Other(1)$— (1)(1)(1)(2)
565 $— 565 1,232 $— 1,232 
Charges associated with restructuring and other activities(9)$— (9)(15)$— (15)
Operating income$556 $— $556 $1,217 $— $1,217 
Three Months Ended
March 31, 2023
Nine Months Ended
March 31, 2023
(In millions)
As Previously Reported
Adjustments
As Adjusted
As Previously Reported
Adjustments
As Adjusted
PRODUCT CATEGORY DATA
Net sales:
Skin Care$1,922 $(7)$1,915 $6,408 $46 $6,454 
Makeup1,088 16 1,104 3,408 16 3,424 
Fragrance585 (8)577 1,967 (60)1,907 
Hair Care149 (1)148 489 (1)488 
Other11 — 11 39 (1)38 
3,755 — 3,755 12,311 — 12,311 
Returns associated with restructuring and other activities(4)— (4)(10)— (10)
Net sales$3,751 $— $3,751 $12,301 $— $12,301 
Operating income (loss):
Skin Care$256 $13 $269 $1,207 $31 $1,238 
Makeup(15)10 (5)(36)27 (9)
Fragrance89 (23)66 399 (56)343 
Hair Care(24)— (24)(31)(1)(32)
Other9 — 9 8 (1)7 
315 — 315 1,547 — 1,547 
Charges associated with restructuring and other activities(18)— (18)(33)— (33)
Operating income$297 $— $297 $1,514 $— $1,514 

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 
Makeup4,516 16 4,532 4,667 3 4,670 
Fragrance2,512 (61)2,451 2,508 (17)2,491 
Hair Care653 (1)652 631 — 631 
Other54 (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 
Fragrance440 (70)370 456 (15)441 
Hair Care(34)(2)(36)(28)— (28)
Other6 (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