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NET EARNINGS (LOSS) ATTRIBUTABLE TO THE ESTEE LAUDER COMPANIES INC. PER COMMON SHARE
 6 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
NET EARNINGS (LOSS) ATTRIBUTABLE TO THE ESTEE LAUDER COMPANIES INC. PER COMMON SHARE NET EARNINGS (LOSS) ATTRIBUTABLE TO THE ESTÉE LAUDER COMPANIES INC. PER COMMON SHARE
Net earnings (loss) attributable to The Estée Lauder Companies Inc. per common share (“basic EPS”) is computed by dividing net earnings (loss) attributable to The Estée Lauder Companies Inc. by the weighted average number of common shares outstanding and shares underlying PSUs and RSUs where the vesting conditions have been met. Net earnings (loss) attributable to The Estée Lauder Companies Inc. per common share assuming dilution (“diluted EPS”) is computed by reflecting potential dilution from stock-based awards using the treasury stock method.

A reconciliation between the numerator and denominator of the basic and diluted EPS computations is as follows:
Three Months Ended
December 31,		Six Months Ended
December 31,
(In millions, except per share data)2024202320242023
Numerator:
Net earnings (loss) attributable to The Estée Lauder Companies Inc.$(590)$313 $(746)$344 
Denominator:
Weighted average common shares outstanding – Basic
360.0 358.7 359.8 358.6 
Effect of dilutive stock options(1)
—0.7—1.0
Effect of PSUs(1)
—0.1—0.1
Effect of RSUs(1)
—0.5—0.6
Weighted average common shares outstanding – Diluted
360.0 360.0 359.8 360.3 
Net earnings (loss) attributable to The Estée Lauder Companies Inc. per common share:
Basic
$(1.64)$.87 $(2.07)$.96 
Diluted
$(1.64)$.87 $(2.07)$.95 
(1)For the three and six months ended December 31, 2024, the effects of potentially dilutive stock options, PSUs and RSUs were excluded from the computation of diluted EPS as they were anti-dilutive due to the net loss incurred during the period.


The shares of Class A Common Stock underlying stock options, RSUs and PSUs that were excluded in the computation of diluted EPS because their inclusion would be anti-dilutive were as follows:

Three Months Ended
December 31,
Six Months Ended
December 31,
(In millions)2024202320242023
Stock options
8.56.68.15.7
RSUs and PSUs
2.91.32.10.7
As of December 31, 2024 and 2023, 0.6 million and 0.4 million shares, respectively, of Class A Common Stock underlying PSUs have been excluded from the computation of diluted EPS as the number of shares ultimately issued is contingent on the achievement of applicable performance targets of the Company, as discussed in Note 9 – Stock Programs.