NOTE 11 — EQUITY

	Total Stockholders’ Equity — The Estée Lauder Companies Inc.																Non-
(In millions)	Common Stock		Paid-in Capital		Retained Earnings			AOCI			Treasury Stock			Total			controlling Interests		Total Equity
Balance at June 30, 2017	$	6	$	3,559	$	8,452		$	(484	)	$	(7,149	)	$	4,384		$	18	$	4,402
Net earnings	—		—		427			—			—			427			3		430
Common stock dividends	—		1		(127		)	—			—			(126		)	—		(126		)
Other comprehensive income	—		—		—			49			—			49			1		50
Acquisition of treasury stock	—		—		—			—			(98		)	(98		)	—		(98		)
Stock-based compensation	—		105		—			—			(10		)	95			—		95

Balance at September 30, 2017	$	6	$	3,665	$	8,752		$	(435	)	$	(7,257	)	$	4,731		$	22	$	4,753

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 three months ended September 30, 2017:

Date Declared		Record Date		Payable Date		Amount per Share
August 17, 2017		August 31, 2017		September 15, 2017		$	.34

On October 31, 2017, a dividend was declared in the amount of $.38 per share on the Company’s Class A and Class B Common Stock. The dividend is payable in cash on December 15, 2017 to stockholders of record at the close of business on November 30, 2017.

Common Stock

During the three months ended September 30, 2017, the Company purchased approximately 1.1 million shares of its Class A Common Stock for $111 million.

During the three months ended September 30, 2017, approximately 0.3 million shares of the Company’s Class B Common Stock were converted into the same amount of shares of the Company’s Class A Common Stock.

Accumulated Other Comprehensive Income (Loss)

The following table represents changes in AOCI, net of tax, by component for the three months ended September 30, 2017:

(In millions)	Net Unrealized Investment Gain (Loss)			Net Derivative Instrument Gain (Loss)			Amounts Included in Net Periodic Benefit Cost			Translation Adjustments			Total
Balance at June 30, 2017	$	(1	)	$	(3	)	$	(213	)	$	(267	)	$	(484	)

OCI before reclassifications	(1		)	(12		)	(1		)(1)	54			40
Amounts reclassified from AOCI	—			6			3			—			9

Net current-period OCI	(1		)	(6		)	2			54			49

Balance at September 30, 2017	$	(2	)	$	(9	)	$	(211	)	$	(213	)	$	(435	)

(1)

Consists of foreign currency translation losses.

The following table represents the effects of reclassification adjustments from AOCI into net earnings for the three months ended September 30, 2017 and 2016:

	Amount Reclassified from AOCI
	Three Months Ended September 30						Affected Line Item in Consolidated
(In millions)	2017			2016			Statements of Earnings
Gain (Loss) on Investments
Gain (loss) on investments	$	—		$	1		Interest income and investment income, net
Benefit (provision) for deferred taxes	—			—			Provision for income taxes

	$	—		$	1		Net earnings

Gain (Loss) on Cash Flow Hedges
Foreign currency forward contracts	$	(5	)	$	2		Cost of sales
Foreign currency forward contracts	(4		)	7			Selling, general and administrative

	(9		)	9			Earnings before income taxes
Benefit (provision) for deferred taxes	3			(3		)	Provision for income taxes

	$	(6	)	$	6		Net earnings

Amounts Included in Net Periodic Benefit Cost
Amortization of prior service cost	$	—		$	(1	)	(1)
Amortization of actuarial loss	(5		)	(7		)	(1)

	(5		)	(8		)	Earnings before income taxes
Benefit (provision) for deferred taxes	2			2			Provision for income taxes

	$	(3	)	$	(6	)	Net earnings

Total reclassification adjustments, net	$	(9	)	$	1		Net earnings

(1)

See Note 7 — Pension and Post-Retirement Benefit Plans for additional information.