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NET EARNINGS ATTRIBUTABLE TO THE ESTEE LAUDER COMPANIES INC. PER COMMON SHARE
 12 Months Ended
Jun. 30, 2015
NET EARNINGS ATTRIBUTABLE TO THE ESTEE LAUDER COMPANIES INC. PER COMMON SHARE  
NET EARNINGS ATTRIBUTABLE TO THE ESTEE LAUDER COMPANIES INC. PER COMMON SHARE

 

NOTE 17 — NET EARNINGS ATTRIBUTABLE TO THE ESTÉE LAUDER COMPANIES INC. PER COMMON SHARE

 

Net earnings attributable to The Estée Lauder Companies Inc. per common share (“basic EPS”) is computed by dividing net earnings attributable to The Estée Lauder Companies Inc. by the weighted-average number of common shares outstanding and contingently issuable shares (which satisfy certain conditions).  Net earnings attributable to The Estée Lauder Companies Inc. per common share assuming dilution (“diluted EPS”) is computed by reflecting potential dilution from stock-based awards.

 

A reconciliation between the numerators and denominators of the basic and diluted EPS computations is as follows:

 

 

 

Year Ended June 30

 

(In millions, except per share data)

 

2015

 

2014

 

2013

 

Numerator:

 

 

 

 

 

 

 

Net earnings attributable to The Estée Lauder Companies Inc.

 

$
1,088.9 

 

$
1,204.1 

 

$
1,019.8 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

Weighted-average common shares outstanding — Basic

 
379.3 

 
386.2 

 
387.6 

 

Effect of dilutive stock options

 
4.6 

 
5.0 

 
5.5 

 

Effect of PSUs

 
0.1 

 
0.1 

 

—

 

Effect of RSUs

 
1.6 

 
1.4 

 
1.4 

 

Effect of performance share units based on TSR

 
0.1 

 
0.1 

 
0.1 

 

Effect of MSU

 

—

 
0.3 

 
0.3 

 

 

 

 

 

 

 

 

 

Weighted-average common shares outstanding — Diluted

 
385.7 

 
393.1 

 
394.9 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings attributable to The Estée Lauder Companies Inc. per common share:

 

 

 

 

 

 

 

Basic

 

$
2.87 

 

$
3.12 

 

$
2.63 

 

Diluted

 
2.82 

 
3.06 

 
2.58 

 

 

As of June 30, 2015, there were no anti-dilutive stock options to be excluded from the computation of diluted EPS.  As of June 30, 2014 and 2013, 0.1 million outstanding stock options were excluded from the computation of diluted EPS because their inclusion would be anti-dilutive.  As of June 30, 2015, 2014 and 2013, 0.6 million, 0.5 million and 0.5 million, respectively, of PSUs have been excluded from the calculation of diluted EPS because the number of shares ultimately issued is contingent on the achievement of certain performance targets of the Company, as discussed in Note 16 — Stock Programs.