v3.24.3
EQUITY AND REDEEMABLE NONCONTROLLING INTEREST
 3 Months Ended
Sep. 30, 2024
Equity [Abstract]  
EQUITY AND REDEEMABLE NONCONTROLLING INTEREST EQUITY AND REDEEMABLE NONCONTROLLING INTEREST
Total Stockholders’ Equity – The Estée Lauder Companies Inc.
Three Months Ended
September 30
(In millions, except per share data)
20242023
Common stock, beginning of the period$6 $6 
Stock-based compensation— — 
Common stock, end of the period6 6 
Paid-in capital, beginning of the period6,685 6,153 
Common stock dividends3 2 
Stock-based compensation90 94 
Paid-in capital, end of the period6,778 6,249 
Retained earnings, beginning of the period13,427 13,991 
Common stock dividends(240)(238)
Net earnings (loss) attributable to The Estée Lauder Companies Inc.(156)31 
Retained earnings, end of the period13,031 13,784 
Accumulated other comprehensive loss, beginning of the period(1,140)(934)
Other comprehensive earnings (loss) attributable to The Estée Lauder Companies Inc.83 (129)
Accumulated other comprehensive loss, end of the period(1,057)(1,063)
Treasury stock, beginning of the period(13,664)(13,631)
Stock-based compensation(10)(3)
Treasury stock, end of the period(13,674)(13,634)
Total equity
$5,084 $5,342 
Redeemable noncontrolling interest, beginning of the period$— $832 
Net earnings attributable to redeemable noncontrolling interest
— 5 
Translation adjustments— (11)
Redeemable noncontrolling interest, end of the period$— $826 
Cash dividends declared per common share$.66 $.66 
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, 2024:

Date DeclaredRecord DatePayable DateAmount per Share
August 16, 2024August 30, 2024September 16, 2024$.66 

On October 30, 2024, a dividend was declared in the amount of $.35 per share on the Company’s Class A and Class B Common Stock. The dividend is payable in cash on December 16, 2024 to stockholders of record at the close of business on November 29, 2024.

Common Stock
Beginning in December 2022, we suspended the repurchase of shares of our Class A Common Stock under our publicly announced program. We may resume repurchases in the future.
Accumulated Other Comprehensive Loss
The following table represents changes in accumulated other comprehensive loss, net of tax, by component for the three months ended September 30, 2024:

(In millions)Net Cash
Flow Hedge
Gain (Loss)
Cross-Currency Swap Contracts (2)
Amounts
Included in Net Periodic Benefit Cost		Translation
Adjustments		Total
Balance at June 30, 2024$57 $(5)$(183)$(1,009)$(1,140)
OCI before reclassifications (3)
(36)12 — 115 
(1)
91 
Amounts reclassified to Net loss
(7)(3)2 — (8)
Net current-period OCI(43)9 2 115 83 
Balance at September 30, 2024$14 $4 $(181)$(894)$(1,057)
(1)See Note 4 – Derivative Financial Instruments for gains (losses) relating to net investment hedges.
(2)The gain recognized in AOCI, net of tax from cross-currency swap contracts represents the amount excluded from effectiveness testing.
(3)The tax provision (benefit) included in Net Cash Flow Hedge Gain (Loss), Cross-Currency Swap Contracts and Translation Adjustments are $(11) million, $4 million, and $(7) million, respectively.
The following table represents the effects of reclassification adjustments from AOCI into net earnings for the three months ended September 30, 2024 and 2023:

Amount Reclassified from AOCI
Affected Line Item in
Consolidated
Statements of Earnings (Loss)
Three Months Ended
September 30
(In millions)20242023
Gain (Loss) on Cash Flow Hedges
Foreign currency forward contracts$10 $9 Net sales
Provision for income taxes(3)(2)
Provision (benefit) for income taxes
7 7 
Net earnings (loss)
Cross-Currency Swap Contracts
Gain on cross-currency swap contracts4 5 Selling, general and administrative
Provision for income taxes
(1)(1)
Provision (benefit) for income taxes
3 4 
Net earnings (loss)
Retirement Plan and Other Retiree Benefit Adjustments
Amortization of prior service cost2 — 
Other components of net periodic benefit cost
Amortization of actuarial gain
(4)1 
Other components of net periodic benefit cost 
(2)1 
Other components of net periodic benefit cost 
Provision for income taxes
— — 
Provision (benefit) for income taxes
(2)1 
Net earnings (loss)
Total reclassification adjustments, net$8 $12 
Net earnings (loss)