| Schedule of segment data and related information |
| | | | | | | | | | | | | | | | | | | | | | | | Year Ended June 30 | | (In millions) | | 2024 | | 2023 | | 2022 | | PRODUCT CATEGORY DATA | | | | | | | | Net sales: | | | | | | | | Skin Care | | $ | 7,908 | | | $ | 8,249 | | | $ | 9,902 | | | Makeup | | 4,470 | | | 4,532 | | | 4,670 | | | Fragrance | | 2,487 | | | 2,451 | | | 2,491 | | | Hair Care | | 629 | | | 652 | | | 631 | | | Other | | 115 | | | 53 | | | 47 | | | | 15,609 | | | 15,937 | | | 17,741 | | | Returns associated with restructuring and other activities | | (1) | | | (27) | | | (4) | | | Net sales | | $ | 15,608 | | | $ | 15,910 | | | $ | 17,737 | | | | | | | | | | Depreciation and amortization: | | | | | | | | Skin Care | | $ | 418 | | | $ | 383 | | | $ | 404 | | | Makeup | | 236 | | | 211 | | | 213 | | | Fragrance | | 132 | | | 117 | | | 89 | | | Hair Care | | 33 | | | 31 | | | 20 | | | Other | | 6 | | | 2 | | | 1 | | | | $ | 825 | | | $ | 744 | | | $ | 727 | | | | | | | | | | Operating income (loss) before charges associated with restructuring and other activities: | | | | | | | | Skin Care | | $ | 735 | | | $ | 1,277 | | | $ | 2,776 | | | Makeup | | 93 | | | (21) | | | 126 | | | Fragrance | | 265 | | | 370 | | | 441 | | | Hair Care | | (52) | | | (36) | | | (28) | | | Other | | 53 | | | 4 | | | (1) | | | | 1,094 | | | 1,594 | | | 3,314 | | | Reconciliation: | | | | | | | | Charges associated with restructuring and other activities | | (124) | | | (85) | | | (144) | | | Interest expense | | (378) | | | (255) | | | (167) | | | Interest income and investment income, net | | 167 | | | 131 | | | 30 | | | Other components of net periodic benefit cost | | 13 | | | 12 | | | 2 | | | Other income, net | | — | | | — | | | 1 | | | Earnings before income taxes | | $ | 772 | | | $ | 1,397 | | | $ | 3,036 | |
| | | | | | | | | | | | | | | | | | | | | | | | Year Ended June 30 | | (In millions) | | 2024 | | 2023 | | 2022 | GEOGRAPHIC DATA(1) | | | | | | | | Net sales: | | | | | | | | The Americas | | $ | 4,581 | | | $ | 4,518 | | | $ | 4,623 | | | Europe, the Middle East & Africa | | 6,140 | | | 6,225 | | | 7,681 | | | Asia/Pacific | | 4,888 | | | 5,194 | | | 5,437 | | | | 15,609 | | | 15,937 | | | 17,741 | | | Returns associated with restructuring and other activities | | (1) | | | (27) | | | (4) | | | Net sales | | $ | 15,608 | | | $ | 15,910 | | | $ | 17,737 | | | | | | | | | | Operating income (loss): | | | | | | | | The Americas | | $ | 34 | | | $ | (73) | | | $ | 1,159 | | | Europe, the Middle East & Africa | | 836 | | | 843 | | | 1,360 | | | Asia/Pacific | | 224 | | | 824 | | | 795 | | | | 1,094 | | | 1,594 | | | 3,314 | | | Charges associated with restructuring and other activities | | (124) | | | (85) | | | (144) | | | Operating income | | $ | 970 | | | $ | 1,509 | | | $ | 3,170 | | | | | | | | | | | | | | | | | Total assets: | | | | | | | | The Americas | | $ | 13,985 | | | $ | 13,292 | | | $ | 10,989 | | | Europe, the Middle East & Africa | | 4,310 | | | 5,985 | | | 5,781 | | | Asia/Pacific | | 3,382 | | | 4,138 | | | 4,140 | | | | $ | 21,677 | | | $ | 23,415 | | | $ | 20,910 | | | | | | | | | Long-lived assets(2): | | | | | | | | The Americas | | $ | 2,524 | | | $ | 2,593 | | | $ | 2,609 | | | Europe, the Middle East & Africa | | 1,224 | | | 1,202 | | | 1,133 | | | Asia/Pacific | | 1,221 | | | 1,181 | | | 857 | | | | $ | 4,969 | | | $ | 4,976 | | | $ | 4,599 | | | | | | | | |
(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. (2)Includes property, plant and equipment, net and operating lease ROU assets.
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| Schedule of Error Corrections and Prior Period Adjustments |
The table below presents the effect of the corrections for fiscal years ended June 30, 2023 and 2022.
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | Year Ended June 30, 2023 | | | | Year Ended June 30, 2022 | | (In millions) | As Previously Reported | Adjustments | As Adjusted | | | | | | As Previously Reported | Adjustments | As Adjusted | | PRODUCT CATEGORY DATA | | | | | | | | | | | | | Net sales: | | | | | | | | | | | | | Skin Care | $ | 8,202 | | $ | 47 | | $ | 8,249 | | | | | | | $ | 9,886 | | $ | 16 | | $ | 9,902 | | | Makeup | 4,516 | | 16 | | 4,532 | | | | | | | 4,667 | | 3 | | 4,670 | | | Fragrance | 2,512 | | (61) | | 2,451 | | | | | | | 2,508 | | (17) | | 2,491 | | | Hair Care | 653 | | (1) | | 652 | | | | | | | 631 | | — | | 631 | | | Other | 54 | | (1) | | 53 | | | | | | | 49 | | (2) | | 47 | | | 15,937 | | — | | 15,937 | | | | | | | 17,741 | | — | | 17,741 | | | Returns associated with restructuring and other activities | (27) | | — | | (27) | | | | | | | (4) | | — | | (4) | | | Net sales | $ | 15,910 | | $ | — | | $ | 15,910 | | | | | | | $ | 17,737 | | $ | — | | $ | 17,737 | | | | | | | | | | | | | | Operating income (loss): | | | | | | | | | | | | | Skin Care | $ | 1,204 | | $ | 73 | | $ | 1,277 | | | | | | | $ | 2,753 | | $ | 23 | | $ | 2,776 | | | Makeup | (22) | | 1 | | (21) | | | | | | | 133 | | (7) | | 126 | | | Fragrance | 440 | | (70) | | 370 | | | | | | | 456 | | (15) | | 441 | | | Hair Care | (34) | | (2) | | (36) | | | | | | | (28) | | — | | (28) | | | Other | 6 | | (2) | | 4 | | | | | | | 0 | | (1) | | (1) | | | 1,594 | | — | | 1,594 | | | | | | | 3,314 | | — | | 3,314 | | | Charges associated with restructuring and other activities | (85) | | — | | (85) | | | | | | | (144) | | — | | (144) | | | Operating income | $ | 1,509 | | $ | — | | $ | 1,509 | | | | | | | $ | 3,170 | | $ | — | | $ | 3,170 | |
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