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SEGMENT DATA AND RELATED INFORMATION
 3 Months Ended
Sep. 30, 2024
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, 2024. 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, 2024.
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 months ended September 30, 2023, for comparability purposes. The misclassifications had no impact on the 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 previously issued financial statements for the respective period was not material.
Three Months Ended
September 30
(In millions)20242023
PRODUCT CATEGORY DATA
Net sales:
Skin Care$1,529 $1,640 
Makeup1,038 1,062 
Fragrance630 636 
Hair Care139 148 
Other25 32 
3,361 3,518 
Returns associated with restructuring and other activities— — 
Net sales$3,361 $3,518 
Operating income (loss) before charges associated with restructuring and other activities:
Skin Care$117 $37 
Makeup(185)(40)
Fragrance60 107 
Hair Care(18)(22)
Other11 18 
(15)100 
Reconciliation:
Charges associated with restructuring and other activities(106)(2)
Interest expense(92)(95)
Interest income and investment income, net35 41 
Other components of net periodic benefit cost(2)2 
Earnings (loss) before income taxes
$(180)$46 
GEOGRAPHIC DATA(1)
Net sales:
The Americas$1,187 $1,208 
Europe, the Middle East & Africa1,230 1,252 
Asia/Pacific944 1,058 
3,361 3,518 
Returns associated with restructuring and other activities— — 
Net sales$3,361 $3,518 
Operating income (loss):
The Americas$(168)$(182)
Europe, the Middle East & Africa90 144 
Asia/Pacific63 138 
(15)100 
Charges associated with restructuring and other activities(106)(2)
Operating income (loss)
$(121)$98 
(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 table below presents the effect of the corrections for the three months ended September 30, 2023.


Three Months Ended
September 30, 2023
(In millions)
As Previously Reported
Adjustments
As Adjusted
PRODUCT CATEGORY DATA
Net sales:
Skin Care$1,638 $2 $1,640 
Makeup1,063 (1)1,062 
Fragrance637 (1)636 
Hair Care148 — 148 
Other32 — 32 
3,518 — 3,518 
Returns associated with restructuring and other activities— — — 
Net sales$3,518 $— $3,518 
Operating income (loss):
Skin Care$35 $2 $37 
Makeup(39)(1)(40)
Fragrance108 (1)107 
Hair Care(22)— (22)
Other18 — 18 
100 — 100 
Charges associated with restructuring and other activities(2)— (2)
Operating income$98 $— $98