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EQUITY AND REDEEMABLE NONCONTROLLING INTEREST
 6 Months Ended
Dec. 31, 2021
Equity [Abstract]  
EQUITY AND REDEEMABLE NONCONTROLLING INTEREST EQUITY AND REDEEMABLE NONCONTROLLING INTERESTTotal Stockholders’ Equity – The Estée Lauder Companies Inc.
Three Months Ended
December 31		Six Months Ended
December 31
(In millions)2021202020212020
Common stock, beginning of the period
$6 $6 $6 $6 
Stock-based compensation
— — — — 
Common stock, end of the period
6 6 6 6 
Paid-in capital, beginning of the period
5,450 4,913 5,335 4,790 
Common stock dividends
— — 1 1 
Stock-based compensation
155 155 269 277 
Paid-in capital, end of the period
5,605 5,068 5,605 5,068 
Retained earnings, beginning of the period
12,864 10,480 12,244 10,134 
Common stock dividends
(217)(194)(410)(368)
Net earnings attributable to The Estée Lauder Companies Inc.1,088 873 1,780 1,396 
Cumulative effect of adoption of new accounting standards
— — 121 (3)
Retained earnings, end of the period
13,735 11,159 13,735 11,159 
Accumulated other comprehensive loss, beginning of the period(625)(594)(470)(665)
Other comprehensive income (loss) attributable to The Estée Lauder Companies Inc.(21)211 (176)282 
Accumulated other comprehensive loss, end of the period(646)(383)(646)(383)
Treasury stock, beginning of the period
(11,614)(10,353)(11,058)(10,330)
Acquisition of treasury stock
(763)— (1,282)— 
Stock-based compensation
(105)(76)(142)(99)
Treasury stock, end of the period
(12,482)(10,429)(12,482)(10,429)
Total stockholders’ equity – The Estée Lauder Companies Inc.
6,218 5,421 6,218 5,421 
Noncontrolling interests, beginning of the period
34 29 34 27 
Net earnings attributable to noncontrolling interests4 4 5 6 
Translation adjustments and other, net(4)2 (5)2 
Noncontrolling interests, end of the period34 35 34 35 
Total equity
$6,252 $5,456 $6,252 $5,456 
Redeemable noncontrolling interest, beginning of the period$842 $— $857 $— 
Net loss attributable to redeemable noncontrolling interest(2)— — — 
Translation adjustments— — (17)— 
Redeemable noncontrolling interest, end of the period$840 $— $840 $— 
Cash dividends declared per common share$.60 $.53 $1.13 $1.01 
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 six months ended December 31, 2021:

Date DeclaredRecord DatePayable DateAmount per Share
August 18, 2021August 31, 2021September 15, 2021$.53 
November 1, 2021November 30, 2021December 15, 2021$.60 

On February 2, 2022, a dividend was declared in the amount of $.60 per share on the Company’s Class A and Class B Common Stock. The dividend is payable in cash on March 15, 2022 to stockholders of record at the close of business on February 28, 2022.

Common Stock
During the six months ended December 31, 2021, the Company purchased approximately 4.3 million shares of its Class A Common Stock for $1,428 million.
During the six months ended December 31, 2021, 2.0 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
The following table represents changes in AOCI, net of tax, by component for the six months ended December 31, 2021:

(In millions)Net Cash
Flow Hedge
Gain (Loss)		Amounts
Included in Net Periodic Benefit Cost		Translation
Adjustments		Total
Balance at June 30, 2021$(2)$(179)$(289)$(470)
OCI before reclassifications5 1 
(1)
(195)
(2)
(189)
Amounts reclassified to Net earnings7 6 — 13 
Net current-period OCI12 7 (195)(176)
Balance at December 31, 2021$10 $(172)$(484)$(646)
(1)Consists of foreign currency translation losses.
(2)See Note 5 – Derivative Financial Instruments for gains (losses) relating to net investment hedges.
The following table represents the effects of reclassification adjustments from AOCI into net earnings for the three and six months ended December 31, 2021 and 2020:

Amount Reclassified from AOCIAffected Line Item in
Consolidated
Statements of Earnings
Three Months Ended
December 31		Six Months Ended
December 31
(In millions)2021202020212020
Gain (Loss) on Cash Flow Hedges
Foreign currency forward contracts$(2)$(5)$(8)$(4)Net sales
Interest rate-related derivatives(1)— (1)(1)Interest expense
(3)(5)(9)(5)
Benefit for deferred taxes— 1 2 1 Provision for income taxes
(3)(4)(7)(4)Net earnings
Retirement Plan and Other Retiree Benefit Adjustments
Amortization of prior service cost1 — 1 — 
Other components of net periodic benefit cost (1)
Amortization of actuarial loss(5)(6)(9)(12)
Other components of net periodic benefit cost (1)
(4)(6)(8)(12)
Benefit for deferred taxes1 1 2 2 Provision for income taxes
(3)(5)(6)(10)Net earnings
Total reclassification adjustments, net$(6)$(9)$(13)$(14)Net earnings
(1)See Note 8 – Pension and Post-Retirement Benefit Plans for additional information.