EQUITY AND REDEEMABLE NONCONTROLLING INTEREST (Tables)

6 Months Ended

Dec. 31, 2023

Equity [Abstract]

Schedule of equity

Total Stockholders’ Equity – The Estée Lauder Companies Inc.

	Three Months Ended December 31				Six Months Ended December 31
(In millions, except per share data)	2023		2022		2023		2022
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	6,249		5,875		6,153		5,796
Common stock dividends	1		1		3		2
Stock-based compensation	117		124		211		202
Paid-in capital, end of the period	6,367		6,000		6,367		6,000
Retained earnings, beginning of the period	13,784		14,185		13,991		13,912
Common stock dividends	(239)		(237)		(477)		(453)
Net earnings attributable to The Estée Lauder Companies Inc.	313		394		344		883
Retained earnings, end of the period	13,858		14,342		13,858		14,342
Accumulated other comprehensive loss, beginning of the period	(1,063)		(1,078)		(934)		(762)
Other comprehensive income (loss) attributable to The Estée Lauder Companies Inc.	207		249		78		(67)
Accumulated other comprehensive loss, end of the period	(856)		(829)		(856)		(829)
Treasury stock, beginning of the period	(13,634)		(13,471)		(13,631)		(13,362)
Acquisition of treasury stock	—		(92)		—		(184)
Stock-based compensation	(29)		(54)		(32)		(71)
Treasury stock, end of the period	(13,663)		(13,617)		(13,663)		(13,617)
Total equity	5,712		5,902		5,712		5,902
Redeemable noncontrolling interest, beginning of the period	$	826	$	808	$	832	$	842
Net earnings attributable to redeemable noncontrolling interest	11		3		16		4
Translation adjustments	13		8		2		(27)
Redeemable noncontrolling interest, end of the period	$	850	$	819	$	850	$	819
Cash dividends declared per common share	$	.66	$	.66	$	1.32	$	1.26

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 six months ended December 31, 2023:

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

Schedule of components of AOCI, net of tax

The following table represents changes in AOCI, net of tax, by component for the six months ended December 31, 2023:

(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	(6)		18		1		89		(1)	102
Amounts reclassified to Net earnings	(16)		(7)		(1)		—			(24)
Net current-period OCI	(22)		11		—		89			78
Balance at December 31, 2023	$	37	$	(4)	$	(177)	$	(712)		$	(856)

(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.

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 six months ended December 31, 2023 and 2022:

	Amount Reclassified from AOCI								Affected Line Item in Consolidated Statements of Earnings
	Three Months Ended December 31				Six Months Ended December 31
(In millions)	2023		2022		2023		2022
Gain (Loss) on Cash Flow Hedges
Foreign currency forward contracts	$	12	$	22	$	21	$	37	Net sales
Interest rate-related derivatives	(1)		—		(1)		—		Interest expense
	11		22		20		37
Provision for deferred taxes	(2)		(5)		(4)		(9)		Provision for income taxes
	9		17		16		28		Net earnings
Cross-Currency Swap Contracts
Gain on cross-currency swap contracts	4		—		9		—		Selling, general and administrative
Provision for deferred taxes	(1)		—		(2)		—		Provision for income taxes
	3		—		7		—		Net earnings
Retirement Plan and Other Retiree Benefit Adjustments
Amortization of prior service cost	—		—		—		—		Other components of net periodic benefit cost (1)
Amortization of actuarial gain	1		—		2		—		Other components of net periodic benefit cost (1)
	1		—		2		—
Provision for deferred taxes	(1)		—		(1)		—		Provision for income taxes
	—		—		1		—		Net earnings
Total reclassification adjustments, net	$	12	$	17	$	24	$	28	Net earnings

(1)See Note 7 – Pension and Post-Retirement Benefit Plans for additional information.