The Estée Lauder Companies Inc. (EL) 10-K 19 Aug 24 2024 FY Annual report Financial data

Cover

Cover - USD ($) $ in Billions	12 Months Ended
	Jun. 30, 2024	Aug. 12, 2024	Dec. 29, 2023
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	1-14064
Entity Registrant Name	Estée Lauder Companies Inc
Entity Tax Identification Number	11-2408943
Entity Address, Address Line One	767 Fifth Avenue
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10153
City Area Code	212
Local Phone Number	572-4200
Title of 12(b) Security	Class A Common Stock, $.01 par value
Trading Symbol	EL
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	true
Document Financial Statement Restatement Recovery Analysis [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 34
Documents Incorporated by Reference	Documents Incorporated by Reference Document Where Incorporated Proxy Statement for Annual Meeting of Stockholders to be held November 8, 2024 Part III
Entity Central Index Key	0001001250
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--06-30
Entity Incorporation, State or Country Code	DE
Common Class A
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		233,177,155
Common Class B
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		125,542,029

Audit Information

Audit Information	12 Months Ended
	Jun. 30, 2024
Audit Information [Abstract]
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	New York, New York
Auditor Firm ID	238

CONSOLIDATED STATEMENTS OF EARN

CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Net sales	$ 15,608	$ 15,910	$ 17,737
Cost of sales	4,424	4,564	4,305
Gross profit	11,184	11,346	13,432
Operating expenses
Selling, general and administrative	9,621	9,575	9,888
Restructuring and other charges	122	55	133
Goodwill impairment	291	0	0
Impairment of other intangible assets	180	207	241
Total operating expenses	10,214	9,837	10,262
Operating income	970	1,509	3,170
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	0	0	1
Earnings before income taxes	772	1,397	3,036
Provision for income taxes	363	387	628
Net earnings	409	1,010	2,408
Net earnings attributable to noncontrolling interests	0	0	(7)
Net earnings attributable to redeemable noncontrolling interest	(19)	(4)	(11)
Net earnings attributable to The Estée Lauder Companies Inc.	$ 390	$ 1,006	$ 2,390
Net earnings attributable to The Estée Lauder Companies Inc. per common share
Basic (in dollars per share)	$ 1.09	$ 2.81	$ 6.64
Diluted (in dollars per share)	$ 1.08	$ 2.79	$ 6.55
Weighted-average common shares outstanding
Basic (in shares)	359	357.9	360
Diluted (in shares)	360.8	360.9	364.9

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net earnings	$ 409	$ 1,010	$ 2,408
Other comprehensive income (loss):
Net cash flow hedge gain (loss)	(3)	(11)	91
Cross-currency swap contract gain (loss)	13	(20)	0
Retirement plan and other retiree benefit adjustments	(9)	(79)	87
Translation adjustments	(145)	(127)	(438)
Benefit (provision) for income taxes on components of other comprehensive income	(6)	51	(61)
Total other comprehensive loss, net of tax	(150)	(186)	(321)
Comprehensive income	259	824	2,087
Comprehensive income attributable to noncontrolling interests:
Net earnings	0	0	(7)
Translation adjustments	0	0	4
Total comprehensive income attributable to noncontrolling interests	0	0	(3)
Comprehensive loss (income) attributable to redeemable noncontrolling interest:
Net earnings	(19)	(4)	(11)
Translation adjustments	17	14	25
Total comprehensive loss (income) attributable to redeemable noncontrolling interest	(2)	10	14
Comprehensive income attributable to The Estée Lauder Companies Inc.	$ 257	$ 834	$ 2,098

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Current assets
Cash and cash equivalents	$ 3,395	$ 4,029
Accounts receivable, net	1,727	1,452
Inventory and promotional merchandise	2,175	2,979
Prepaid expenses and other current assets	625	679
Total current assets	7,922	9,139
Property, plant and equipment, net	3,136	3,179
Other assets
Operating lease right-of-use assets	1,833	1,797
Goodwill	2,143	2,486
Other intangible assets, net	5,183	5,602
Other assets	1,460	1,212
Total other assets	10,619	11,097
Total assets	21,677	23,415
Current liabilities
Current debt	504	997
Accounts payable	1,440	1,670
Operating lease liabilities	354	357
Other accrued liabilities	3,404	3,216
Total current liabilities	5,702	6,240
Noncurrent liabilities
Long-term debt	7,267	7,117
Long-term operating lease liabilities	1,701	1,698
Other noncurrent liabilities	1,693	1,943
Total noncurrent liabilities	10,661	10,758
Commitments and contingencies
Redeemable Noncontrolling Interest	0	832
Equity
Common stock, $.01 par value; Class A shares authorized: 1,300,000,000 at June 30, 2024 and June 30, 2023; shares issued: 471,018,569 at June 30, 2024 and 469,668,085 at June 30, 2023; Class B shares authorized: 304,000,000 at June 30, 2024 and June 30, 2023; shares issued and outstanding: 125,542,029 at June 30, 2024 and 125,542,029 at June 30, 2023	6	6
Paid-in capital	6,685	6,153
Retained earnings	13,427	13,991
Accumulated other comprehensive loss	(1,140)	(934)
Stockholders' equity before treasury stock	18,978	19,216
Less: Treasury stock, at cost; 237,871,995 Class A shares at June 30, 2024 and 237,590,199 Class A shares at June 30, 2023	(13,664)	(13,631)
Total equity	5,314	5,585
Total liabilities, redeemable noncontrolling interest and equity	$ 21,677	$ 23,415

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2024	Jun. 30, 2023
Equity
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common Class A
Equity
Common stock, par value (in dollars per share)	$ 0.01
Common stock, shares authorized	1,300,000,000	1,300,000,000
Common stock, shares issued	471,018,569	469,668,085
Common stock, shares outstanding	233,146,600	232,077,900
Treasury stock, shares	237,871,995	237,590,199
Common Class B
Equity
Common stock, par value (in dollars per share)	$ 0.01
Common stock, shares authorized	304,000,000	304,000,000
Common stock, shares issued	125,542,029	125,542,029
Common stock, shares outstanding	125,542,029	125,542,029

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY AND REDEEMABLE NONCONTROLLING INTEREST - USD ($) $ in Millions	Total	Total stockholders’ equity – The Estée Lauder Companies Inc.	Common stock	Paid-in capital	Retained earnings	Retained earnings Cumulative effect of adoption of new accounting standards	Accumulated other comprehensive loss	Treasury Stock	Non-controlling interests	Redeemable noncontrolling interest
Beginning of the period at Jun. 30, 2021			$ 6	$ 5,335	$ 12,244	$ 121	$ (470)	$ (11,058)	$ 34
Increase (Decrease) in Stockholders' Equity
Stock-based compensation			0	477				(174)
Common stock dividends				3	(843)
Purchase of shares from noncontrolling interests	$ (19)			(19)					(34)
Purchase of shares from redeemable noncontrolling interest				0			0
Net earnings attributable to The Estée Lauder Companies Inc.					2,390
Other comprehensive loss attributable to The Estée Lauder Companies Inc.	(321)						(292)
Acquisition of treasury stock								(2,130)
Net earnings attributable to noncontrolling interests	(7)								7
Translation adjustments and other, net									(7)
End of the period at Jun. 30, 2022	5,590	$ 5,590	6	5,796	13,912	0	(762)	(13,362)	0
Beginning of the period at Jun. 30, 2021										$ 857
Redeemable noncontrolling interest
Net earnings attributable to redeemable noncontrolling interest	11									11
Purchase of shares from redeemable noncontrolling interest										0
Translation adjustments	$ 25									(25)
Adjustment of redeemable noncontrolling interest to redemption value										(1)
End of the period at Jun. 30, 2022										842
Redeemable noncontrolling interest
Cash dividends declared per common share (in dollars per share)	$ 2.33
Stock-based compensation			0	353				(85)
Common stock dividends				4	(927)
Purchase of shares from noncontrolling interests	$ 0			0					0
Purchase of shares from redeemable noncontrolling interest				0			0
Net earnings attributable to The Estée Lauder Companies Inc.					1,006
Other comprehensive loss attributable to The Estée Lauder Companies Inc.	(186)						(172)
Acquisition of treasury stock								(184)
Net earnings attributable to noncontrolling interests	0								0
Translation adjustments and other, net									0
End of the period at Jun. 30, 2023	5,585	5,585	6	6,153	13,991	$ 0	(934)	(13,631)	0
Redeemable noncontrolling interest
Net earnings attributable to redeemable noncontrolling interest	4									4
Purchase of shares from redeemable noncontrolling interest										0
Translation adjustments	14									(14)
Adjustment of redeemable noncontrolling interest to redemption value										0
End of the period at Jun. 30, 2023	$ 832									832
Redeemable noncontrolling interest
Cash dividends declared per common share (in dollars per share)	$ 2.58
Stock-based compensation			0	364				(33)
Common stock dividends				6	(954)
Purchase of shares from noncontrolling interests	$ 0			0					0
Purchase of shares from redeemable noncontrolling interest				162			(73)
Net earnings attributable to The Estée Lauder Companies Inc.					390
Other comprehensive loss attributable to The Estée Lauder Companies Inc.	(150)						(133)
Acquisition of treasury stock								0
Net earnings attributable to noncontrolling interests	0								0
Translation adjustments and other, net									0
End of the period at Jun. 30, 2024	5,314	$ 5,314	$ 6	$ 6,685	$ 13,427		$ (1,140)	$ (13,664)	$ 0
Redeemable noncontrolling interest
Net earnings attributable to redeemable noncontrolling interest	19									19
Purchase of shares from redeemable noncontrolling interest										(834)
Translation adjustments	17									(17)
Adjustment of redeemable noncontrolling interest to redemption value										0
End of the period at Jun. 30, 2024	$ 0									$ 0
Redeemable noncontrolling interest
Cash dividends declared per common share (in dollars per share)	$ 2.64

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities
Net earnings	$ 409	$ 1,010	$ 2,408
Adjustments to reconcile net earnings to net cash flows from operating activities:
Depreciation and amortization	825	744	727
Deferred income taxes	(265)	(186)	(149)
Non-cash stock-based compensation	325	267	331
Net loss on disposal of property, plant and equipment	9	13	8
Non-cash restructuring and other charges	7	36	14
Pension and post-retirement benefit expense	50	53	78
Pension and post-retirement benefit contributions	(116)	(49)	(56)
Impairment of goodwill and other intangible assets	471	207	241
Gain on previously held equity method investment	0	0	(1)
Other non-cash items	14	(8)	(7)
Changes in operating assets and liabilities:
Decrease (increase) in accounts receivable, net	(285)	185	(10)
Decrease (increase) in inventory and promotional merchandise	766	(64)	(602)
Decrease (increase) in other assets, net	15	26	(101)
Increase (decrease) in accounts payable	(38)	(333)	210
Increase (decrease) in other accrued and noncurrent liabilities	209	(129)	1
Decrease in operating lease assets and liabilities, net	(36)	(41)	(52)
Net cash flows provided by operating activities	2,360	1,731	3,040
Cash flows from investing activities
Capital expenditures	(919)	(1,003)	(1,040)
Payments for acquired business	0	0	(3)
Purchases of other intangible assets	0	(2,286)	0
Purchases of investments	(18)	(8)	(10)
Settlement of net investment hedges	(23)	80	108
Net cash flows used for investing activities	(960)	(3,217)	(945)
Cash flows from financing activities
Proceeds (repayments) of current debt, net	(215)	218	(4)
Proceeds from issuance of commercial paper (maturities after three months)	0	765	0
Repayments of commercial paper (maturities after three months)	(785)	0	0
Proceeds from issuance of long-term debt, net	648	1,995	0
Debt issuance costs	(4)	(15)	(1)
Repayments and redemptions of long-term debt	(10)	(265)	(18)
Net proceeds from stock-based compensation transactions	40	88	151
Payment for acquisition of noncontrolling interest	0	0	(15)
Payments for acquisition of redeemable noncontrolling interest	(745)	0	0
Payments to acquire treasury stock	(35)	(271)	(2,309)
Settlement of cross-currency swaps	18	0	0
Dividends paid to stockholders	(947)	(925)	(840)
Net cash flows provided by (used for) financing activities	(2,035)	1,590	(3,036)
Effect of exchange rate changes on Cash and cash equivalents	1	(32)	(60)
Net increase (decrease) in Cash and cash equivalents	(634)	72	(1,001)
Cash and cash equivalents at beginning of year	4,029	3,957	4,958
Cash and cash equivalents at end of year	$ 3,395	$ 4,029	$ 3,957

DESCRIPTION OF BUSINESS

DESCRIPTION OF BUSINESS	12 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS	DESCRIPTION OF BUSINESS The Estée Lauder Companies Inc. manufactures, markets and sells skin care, makeup, fragrance and hair care products around the world. Products are marketed under owned brand names, including: Estée Lauder, Aramis, Clinique, Lab Series, Origins, M·A·C, La Mer, Bobbi Brown Cosmetics , Aveda, Jo Malone London, Bumble and bumble, Darphin Paris, TOM FORD, Smashbox, Le Labo, Editions de Parfums Frédéric Malle, GLAMGLOW, Kilian Paris, Too Faced, Dr.Jart+, and The Ordinary. The Estée Lauder Companies Inc. is also the global licensee of the AERIN, BALMAIN and Dr. Andrew Weil brand names for fragrances and cosmetics.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation The accompanying consolidated financial statements include the accounts of The Estée Lauder Companies Inc. and its subsidiaries (collectively, the “Company”). All significant intercompany balances and transactions have been eliminated. Certain amounts in the notes to the consolidated financial statements of prior years have been reclassified to conform to current year presentation. Management Estimates The preparation of financial statements and related disclosures in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses reported in those financial statements. Certain significant accounting policies that contain subjective management estimates and assumptions include those related to revenue recognition, inventory, pension and other post-retirement benefit costs, business combinations and asset acquisitions, goodwill, other intangible assets and long-lived assets, income taxes, redeemable noncontrolling interest and Deciem Beauty Group Inc. (“DECIEM”) stock options. Management evaluates the related estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, and makes adjustments when facts and circumstances dictate. As future events and their effects cannot be determined with precision, actual results could differ significantly from those estimates and assumptions. Significant changes, if any, in those estimates and assumptions resulting from continuing changes in the economic environment will be reflected in the consolidated financial statements in future periods. Currency Translation and Transactions All assets and liabilities of foreign subsidiaries and affiliates are translated at year-end rates of exchange, while revenue and expenses are translated at monthly average rates of exchange for the period. Unrealized translation losses, net of tax, reported as translation adjustments through other comprehensive income (loss) (“OCI”) attributable to The Estée Lauder Companies Inc. were $135 million, $85 million and $427 million, net of tax, in fiscal 2024, 2023 and 2022, respectively. For the Company’s subsidiaries operating in highly inflationary economies, the U.S. dollar is the functional currency. Remeasurement adjustments in financial statements in a highly inflationary economy and other transactional gains and losses are reflected in earnings. These subsidiaries are not material to the Company’s consolidated financial statements or liquidity in fiscal 2024, 2023 and 2022. The Company enters into foreign currency forward contracts and may enter into option contracts to hedge foreign currency transactions for periods consistent with its identified exposures. The Company also uses cross-currency swap contracts to hedge the impact of foreign currency changes on certain intercompany foreign currency denominated debt. Additionally, the Company enters into foreign currency forward contracts to hedge a portion of its net investment in certain foreign operations, which are designated as net investment hedges. See Note 13 – Derivative Financial Instruments for further discussion . The Company categorizes these instruments as entered into for purposes other than trading. The accompanying consolidated statements of earnings include net exchange gains (losses) on foreign currency transactions of $77 million, $57 million and $(11) million in fiscal 2024, 2023 and 2022, respectively. Cash and Cash Equivalents Cash and cash equivalents include $926 million and $66 million of short-term time deposits at June 30, 2024 and 2023, respectively. The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. Investments Investments in the common stock of privately-held companies in which the Company has the ability to exercise significant influence, but less than a controlling financial interest, are accounted for under the equity method of accounting. For those equity securities without readily determinable fair values where the Company does not have the ability to exercise significant influence, the Company records them at cost, less impairment, plus/minus subsequent observable price changes, and performs an assessment each quarter to determine whether or not a triggering event has occurred that results in changes in fair value. Collectively, these investments were not material to the Company’s consolidated financial statements as of June 30, 2024 and 2023 and are included in Other assets in the accompanying consolidated balance sheets. Accounts Receivable Accounts receivable, net is stated net of the allowance for doubtful accounts, including credit losses, and customer deductions. Payment terms are short-term in nature and are generally less than one year. The Company is required to measure credit losses based on the Company’s estimate of expected losses rather than incurred losses, which generally results in earlier recognition of allowances for credit losses. The Company evaluates certain criteria, including aging and historical write-offs, the current economic condition of specific customers and future economic conditions of countries utilizing a consumption index to determine the appropriate allowance for credit losses. The Company writes-off receivables once it is determined that the receivables are no longer collectible and as allowed by local laws. See Note 15 – Revenue Recognition for additional information. Inventory and Promotional Merchandise Inventory and promotional merchandise only includes inventory considered saleable or usable in future periods, and is stated at the lower of cost or net realizable value, with cost being based on standard cost and production variances, which approximate actual cost on the first-in, first-out method. Cost components include raw materials, componentry, direct labor and overhead (e.g., indirect labor, utilities, depreciation, purchasing, receiving, inspection and warehousing) as well as inbound freight. Manufacturing overhead is allocated to the cost of inventory based on the normal production capacity. Unallocated overhead during periods of abnormally low production levels are recognized as cost of sales in the period in which they are incurred. Promotional merchandise is charged to expense at the time the merchandise is shipped to the Company’s customers. Included in inventory and promotional merchandise is an inventory obsolescence reserve, which represents the difference between the cost of the inventory and its net realizable value. This reserve is calculated using an estimated obsolescence percentage applied to the inventory based on age and historical results. In addition, and as necessary, specific reserves for future known or anticipated events may be established. Derivative Financial Instruments The Company’s derivative financial instruments are recorded as either assets or liabilities on the balance sheet and measured at fair value. All derivatives are (i) designated as a hedge of the fair value of a recognized asset or liability or of an unrecognized firm commitment (“fair value” hedge), (ii) designated as a hedge of a forecasted transaction or of the variability of cash flows to be received or paid related to a recognized asset or liability (“cash flow” hedge), (iii) designated as a hedge of a net investment in certain foreign operations ("net investment" hedge), or (iv) not designated as a hedging instrument. For each derivative contract entered into, where the Company looks to obtain hedge accounting treatment, the Company formally and contemporaneously documents all relationships between hedging instruments and hedged items, as well as its risk-management objective and strategy for undertaking the hedge transaction, the nature of the risk being hedged, and how the hedging instruments’ effectiveness in offsetting the hedged risk will be assessed prospectively and retrospectively. This process includes linking all derivatives to specific assets and liabilities on the balance sheet or to specific firm commitments or forecasted transactions. At inception, the Company evaluates the effectiveness of hedge relationships quantitatively, and has elected to perform, after initial evaluation, qualitative effectiveness assessments of certain hedge relationships to support an ongoing expectation of high effectiveness, if effectiveness testing is required. If based on the qualitative assessment, it is determined that a derivative has ceased to be a highly effective hedge, the Company will perform a quantitative assessment to determine whether to discontinue hedge accounting with respect to that derivative prospectively. For a fair value hedge, changes in the fair value of a derivative are recorded in current-period earnings, along with the loss or gain on the hedged asset or liability that is attributable to the hedged risk (including losses or gains on unrecognized firm commitments). For a cash flow hedge, changes in the fair value of a derivative of a forecasted transaction are recorded in OCI. Gains and losses deferred in OCI are then recognized in current-period earnings when earnings are affected by the variability of cash flows of the hedged forecasted transaction (e.g., when periodic settlements on a variable-rate asset or liability are recorded in earnings). The Company also enters into foreign currency forward contracts to hedge a portion of its net investment in certain foreign operations, which are designated as net investment hedges. The net gain or loss on these contracts is recorded within translation adjustments, as a component of AOCI on the Company’s consolidated balance sheets, until the sale or substantially complete liquidation of the underlying assets of the Company’s investment. For derivative instruments, such as foreign currency forward contracts or option contracts, not designated as hedging instruments, changes in the fair value are reported in current-period earnings. All derivative gains and losses relating to fair value hedges and cash flow hedges are recognized in the same income statement line as the hedged items. Cash flows from derivatives are classified within the consolidated statements of cash flows in the same category as the items being hedged. The cross-currency swap contracts designated as fair value hedges are classified within financing activities. The foreign currency forward contracts designated as net investment hedges are classified within investing activities, except the portion related to the excluded component which is classified within operating activities. Cash flows, and their related gains and losses, from the cash flow hedges and derivative instruments not designated as hedging instruments are classified within operating activities. See Note 13 – Derivative Financial Instruments for further discussion. Property, Plant and Equipment Property, plant and equipment, including leasehold and other improvements that extend an asset’s useful life or productive capabilities, are carried at cost less accumulated depreciation and amortization. Costs incurred for computer software developed or obtained for internal use are capitalized during the application development stage and expensed as incurred during the preliminary project and post-implementation stages. Costs incurred for website development are capitalized within each applicable development stage as required. Capital costs incurred while an asset is being built are classified as construction in progress and are reclassified to its respective asset class when placed into service. For financial statement purposes, depreciation is provided principally on the straight-line method over the estimated useful lives of the assets ranging from 3 to 40 years. Leasehold improvements are amortized on a straight-line basis over the shorter of the lives of the respective leases or the expected useful lives of those improvements. Business Combinations and Asset Acquisitions The Company evaluates whether a transaction meets the definition of a business. The Company first applies a screen test to determine if substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets. If the screen test is met, the transaction is accounted for as an asset acquisition. If the screen test is not met, the Company further considers whether the set of assets or acquired entities have at a minimum, inputs and processes that have the ability to create outputs in the form of revenue. If the assets or acquired entities meet this criteria, the transaction is accounted for as a business combination. The Company uses the acquisition method of accounting for acquired businesses. Under the acquisition method, the Company's consolidated financial statements reflect the operations of an acquired business starting from the closing date of the acquisition. The Company allocates the purchase price to the tangible and identifiable intangible assets acquired and liabilities assumed based on their estimated fair values on the acquisition date. Any residual purchase price is recorded as goodwill. The Company recognizes assets acquired in an asset acquisition based on the cost to the Company on a relative fair value basis, which includes transaction costs in addition to consideration transferred and liabilities assumed or issued as part of the transaction. Neither goodwill nor bargain purchase gains are recognized in an asset acquisition; any excess of consideration transferred over the fair value of the net assets acquired, or the opposite, is allocated to qualifying assets based on their relative fair values. The determination of fair value, as well as the expected useful lives of certain assets acquired, requires management to make judgments and may involve the use of significant estimates, including assumptions with respect to estimated future cash flows, discount rates and valuation multiples from comparable publicly traded companies, among other things. See Note 5 – Asset Acquisition for further information. Goodwill and Other Indefinite-lived Intangible Assets Goodwill is calculated as the excess of the cost of purchased businesses over the fair value of their underlying net assets. Other indefinite-lived intangible assets principally consist of trademarks. Goodwill and other indefinite-lived intangible assets are not amortized. The Company assesses goodwill and other indefinite-lived intangible assets at least annually for impairment as of the beginning of the fiscal fourth quarter or more frequently if certain events or circumstances exist. The Company tests goodwill for impairment at the reporting unit level, which is one level below the Company’s operating segments. The Company identifies its reporting units by assessing whether the components of its operating segments constitute businesses for which discrete financial information is available and management of each operating segment regularly reviews the operating results of those components. The Company makes certain judgments and assumptions in allocating assets and liabilities to determine carrying values for its reporting units. When testing goodwill for impairment, the Company has the option of first performing a qualitative assessment to determine whether it is more-likely-than-not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform a quantitative goodwill impairment test. The Company uses a single quantitative step when determining the subsequent measurement of goodwill by comparing the fair value of a reporting unit with its carrying amount and recording an impairment charge for the amount that the carrying amount exceeds the fair value, up to the total amount of goodwill allocated to that reporting unit. When testing other indefinite-lived intangible assets for impairment, the Company also has the option of first performing a qualitative assessment to determine whether it is more-likely-than-not that the other indefinite-lived intangible asset is impaired as a basis for determining whether it is necessary to perform a quantitative test. The quantitative impairment test for other indefinite-lived intangible assets encompasses calculating the fair value of an other indefinite-lived intangible asset and comparing the fair value to its carrying value. If the carrying value exceeds the fair value, an impairment charge is recorded. See Note 6 – Goodwill and Other Intangible Assets for further information. Long-Lived Assets The Company reviews long-lived assets, primarily intangible assets subject to amortization, right-of-use assets and property, plant and equipment, for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. When such events or changes in circumstances occur, a recoverability test is performed comparing projected undiscounted cash flows from the use and eventual disposition of an asset or asset group to its carrying value. If the projected undiscounted cash flows are less than the carrying value, then an impairment charge would be measured and recorded for the excess of the carrying value over the fair value. Specifically for right-of-use assets, estimated fair value is based on discounting market rent using a real estate discount rate. Leases The Company recognizes a lease liability and a related right-of-use (“ROU”) asset at the commencement date for leases on its consolidated balance sheet, excluding short-term leases as noted below. The lease liability is equal to the present value of unpaid lease payments over the remaining lease term. The Company’s lease term at the commencement date may reflect options to extend or terminate the lease when it is reasonably certain that such options will be exercised. To determine the present value of the lease liability, if the rate implicit in the lease is not readily determinable, the Company uses an incremental borrowing rate, which is defined as the rate of interest that the Company would have to pay to borrow (on a collateralized basis over a similar term) an amount equal to the lease payments in similar economic environments. The ROU asset is based on the corresponding lease liability adjusted for certain costs such as initial direct costs, prepaid lease payments and lease incentives received. Both operating and finance lease ROU assets are reviewed for impairment, consistent with other long-lived assets, whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. After an ROU asset is impaired, any remaining balance of the ROU asset is amortized on a straight-line basis over the shorter of the remaining lease term or the estimated useful life. After the lease commencement date, the Company evaluates lease modifications, if any, that could result in a change in the accounting for leases. For a lease modification, an evaluation is performed to determine if it should be treated as either a separate lease or a change in the accounting of an existing lease. In addition, significant changes in events or circumstances within the Company’s control are assessed to determine whether a change in the accounting for leases is required. For lease modifications that result in partial termination of the lease, the Company has elected the proportional method whereby the carrying amount of the ROU asset is decreased in proportion with the full or partial termination of the lease based on the adjustment to the carrying value of the lease liability. The difference between those adjustments is recognized in Selling, general and administrative expense in the accompanying consolidated statements of earnings at the effective date of the termination. Certain of the Company’s leases provide for variable lease payments for the right to use an underlying asset that vary due to changes in facts and circumstances occurring after the commencement date, other than the passage of time. Variable lease payments that are dependent on an index or rate (e.g., Consumer Price Index) are included in the initial measurement of the lease liability, the initial measurement of the ROU asset, and the lease classification test based on the index or rate as of the commencement date. Any changes from the commencement date estimation of the index- and rate-based variable payments are expensed as incurred in the period of the change. Variable lease payments that are not known at the commencement date and are determinable based on the performance or use of the underlying asset , are not included in the initial measurement of the lease liability or the ROU asset, but instead are expensed as incurred. The Company’s variable lease payments primarily include rents based on a percentage of sales in excess of stipulated levels, common area maintenance based on the percentage of the total square footage leased by the Company, as well as costs relating to embedded leases, such as third-party manufacturing agreements. Certain of the Company’s contracts contain lease components as well as non-lease components, such as an agreement to purchase services. For purposes of allocating contract consideration, the Company does not separate the lease components from non-lease components for all asset classes. Short-term leases (i.e. leases with a term of 12 months or less) are not recorded as ROU assets or lease liabilities on the Company’s consolidated balance sheets, and the related lease payments are recognized in net earnings on a straight-line basis over the lease term. For certain leases relating to automobiles, information technology equipment and office equipment, the Company utilizes the portfolio approach. Under this approach, the Company combines and accounts for leases (as a portfolio) with similar characteristics (e.g., lease term, discount rates, etc.) as a single lease, provided its application is not materially different when compared to the application at the individual lease level. See Note 7 – Leases for further information. Concentration of Credit Risk The Company is a worldwide manufacturer, marketer and seller of skin care, makeup, fragrance and hair care products. The Company’s sales subject to credit risk are made primarily to retailers in its travel retail business, department stores, specialty multi-brand retailers and perfumeries. The Company grants credit to qualified customers. While the Company does not believe it is exposed significantly to any undue concentration of credit risk at this time, it continues to monitor its customers' abilities, individually and collectively, to make timely payments. The Company’s largest customer for the year ended June 30, 2024 sells products primarily in China travel retail. This customer accounted for $206 million, or 12%, and $49 million, or 3%, of the Company's accounts receivable at June 30, 2024 and 2023, respectively. Revenue Recognition Performance Obligations The Company recognizes revenue at a point in time when it satisfies a performance obligation by transferring control over a product and other promised goods and services to a customer. The Company sells wholesale to customers in distribution channels that include department stores, travel retail, specialty-multi retailers, perfumeries, salons/spas and through various online sites operated by authorized retailers, including pure-play sites. The primary performance obligation related to these channels of distribution is product sales where revenue is recognized as control of the product transfers to the customer. In the Americas region, revenue is generally recognized at the time the product is made available and provided to the customer’s carrier at the Company’s location, and in the Europe, the Middle East & Africa and Asia/Pacific regions, revenue is generally recognized based upon the customer’s receipt. The Company has certain arrangements with customers whereby it is responsible for shipping and handling through the named place of destination, which occurs after the customer has obtained control. As a result, the Company has made a policy election that permits us to account for shipping and handling activities that occur after the customer has obtained control of a good as a fulfillment cost rather than as an additional promised service. For these arrangements, the Company accrues all shipping and handling expenses related to the shipped products in the period that the revenue is recognized. The Company also sells direct to consumers at Company-operated freestanding stores and online through Company-owned and operated e-commerce sites and through third-party online malls. At Company-operated freestanding stores, revenue is recognized when control of the product is transferred at the point of sale. Revenue from online sales is recognized when control of the product is transferred, generally based upon the consumer’s receipt. In connection with the sale of product, the Company may provide other promised goods and services that are deemed to be performance obligations. These are comprised of gift with purchase and purchase with purchase promotions, customer loyalty program obligations, gift cards and other promotional goods including samples and testers. The Company provides gift with purchase promotional products to certain customers generally without additional charge and also provides purchase with purchase promotional products to certain customers at a discount in relation to prices charged for saleable product. Revenue is allocated between saleable product, gift with purchase product and purchase with purchase product based on the estimated relative standalone selling prices. Revenue is deferred and ultimately recognized based on the timing differences, if any, between when control of promotional goods and control of the related saleable products transfer to the Company’s customer (e.g., a third-party retailer), which is calculated based on the weighted-average number of days between promotional periods. The estimated standalone selling price allocated to promotional goods is based on a cost plus margin approach. The Company offers a number of different loyalty programs to its customers across regions, brands and distribution channels including points-based programs, tier-based programs and other programs. Revenue is allocated between the saleable product revenue and the material right loyalty obligations based on relative standalone selling prices when the consumer purchases the products that are earning them the right to the future benefits. Deferred revenue related to the Company’s loyalty programs is estimated based on the standalone selling price and is adjusted for an estimated breakage factor. Standalone selling price is determined primarily using the observable market price of the good or service benefit if it is sold by the Company or a cost plus margin approach for goods/services not directly sold by the Company. Breakage rates consider historical patterns of redemption and/or expiration. Revenue is recognized when the benefits are redeemed or expire. The Company also offers gift cards through Company-operated freestanding stores and Company-owned websites. The related deferred revenue is estimated based on expected breakage that considers historical patterns of redemption taking into consideration escheatment laws as applicable. In situations where promotional products are provided by the Company to its customers at the same time as the related saleable product, such as shipments of samples and testers, the cost of these promotional products are recognized as a cost of sales at the same time as the related revenue is recognized and no deferral of revenue is required. Product Returns, Sales Incentives and Other Forms of Variable Consideration In measuring revenue and determining the consideration the Company is entitled to as part of a contract with a customer, the Company takes into account the related elements of variable consideration. Such elements of variable consideration include product returns and sales incentives, such as volume rebates and discounts, markdowns, margin adjustments and early-payment discounts. We also enter into arrangements containing other forms of variable consideration, including certain demonstration arrangements, for which the Company does not receive a distinct good or service or for which the Company cannot reasonably estimate the fair value of the good or service. For these types of arrangements, the adjustments to revenue are recorded at the later of when (i) the Company recognizes revenue for the transfer of the related goods or services to the customer, or (ii) the Company pays, or promises to pay, the consideration. For the sale of goods with a right of return, the Company only recognizes revenue for the consideration it expects to be entitled to (considering the products to be returned) and records a sales return accrual within Other accrued liabilities for the amount it expects to credit back its customers. In addition, the Company recognizes an asset included in Inventory and promotional merchandise and a corresponding adjustment to Cost of sales for the right to recover goods from customers associated with the estimated returns. The sales return accrual and corresponding asset include estimates that directly impact reported net sales. These estimates are calculated based on a history of actual returns, estimated future returns and information provided by retailers regarding their inventory levels. Consideration of these factors results in an estimate for anticipated sales returns that reflects increases or decreases related to seasonal fluctuations. In addition, as necessary, sales return accruals and the related assets may be established for significant future known or anticipated events. The types of known or anticipated events that are considered, and will continue to be considered, include the financial condition of the Company’s customers, store closings by retailers, changes in the retail environment and the Company’s decision to continue to support new and existing products. The Company estimates sales incentives and other variable consideration using the most likely amount method and records accruals within Other accrued liabilities when control of the related product is transferred to the customer. Under this method, certain forms of variable consideration are based on expected sell-through results, which requires subjective estimates. These estimates are supported by historical results as well as specific facts and circumstances related to the current period. The Company also enters into transactions and makes payments to certain of its customers related to demonstration, advertising and counter construction, some of which involve cooperative relationships with customers. These activities may be arranged either with unrelated third parties or in conjunction with the customer. To the extent the Company receives a distinct good or service in exchange for consideration and the fair value of the benefit can be reasonably estimated, the Company’s share of the counter depreciation and the other costs of these transactions (regardless of to whom they were paid) are reflected in Selling, general and administrative expenses in the accompanying consolidated statements of earnings. See Note 15 – Revenue Recognition for further discussion . For revenue disaggregated by product category and geographic region, see Note 24 – Segment Data and Related Information . Royalty Revenue - License Arrangements As a result of the acquisition of the TOM FORD brand, the Company entered into license arrangements with the Marcolin Group (“Marcolin”) and Ermenegildo Zegna N.V. (“Zegna”). As part of these arrangements, the Company licensed the TOM FORD trademark for eyewear (“Eyewear”) to Marcolin and for fashionwear (“Fashion”) to Zegna. Licensing the TOM FORD trademark to customers represents a revenue-generating activity in the ordinary course of business for the Company. The Company’s performance obligation is to license the TOM FORD trademark to Marcolin and to Zegna, which grants them the right to access the symbolic intellectual property. The licensing arrangements stipulate that licensees must pay a sales-based royalty, with a guaranteed minimum, to the Company. The Company sat

INVENTORY AND PROMOTIONAL MERCH

INVENTORY AND PROMOTIONAL MERCHANDISE	12 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
INVENTORY AND PROMOTIONAL MERCHANDISE	INVENTORY AND PROMOTIONAL MERCHANDISE Inventory and promotional merchandise consists of the following: June 30 (In millions) 2024 2023 Raw materials $ 696 $ 876 Work in process 308 362 Finished goods 903 1,404 Promotional merchandise 268 337 $ 2,175 $ 2,979

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	12 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT	PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment consists of the following: June 30 (In millions) 2024 2023 Assets (Useful Life) Land and improvements (1) $ 68 $ 70 Buildings and improvements (10 to 40 years) 929 843 Machinery and equipment (3 to 10 years) 1,253 1,071 Computer hardware and software (4 to 10 years) 1,861 1,651 Furniture and fixtures (5 to 10 years) 137 136 Leasehold improvements 2,418 2,310 Construction in progress 500 827 7,166 6,908 Less accumulated depreciation and amortization (4,030) (3,729) $ 3,136 $ 3,179 (1) Land improvements are depreciated over a 10 year useful life. Depreciation and amortization of property, plant and equipment was $663 million, $577 million and $543 million in fiscal 2024, 2023 and 2022, respectively. Depreciation and amortization related to the Company’s manufacturing process is included in Cost of sales and all other depreciation and amortization is included in Selling, general and administrative expenses in the accompanying consolidated statements of earnings. See Note 7 – Leases for d iscussion of property, plant and equipment impairments.

ASSET ACQUISITION

ASSET ACQUISITION	12 Months Ended
	Jun. 30, 2024
Business Combination and Asset Acquisition [Abstract]
ASSET ACQUISITION	ASSET ACQUISITION Fiscal 2023 On April 28, 2023, the Company acquired 100% of the equity interests in 001 Del LLC (“001”) in exchange for $2,550 million in consideration (the “TOM FORD Acquisition”). 001 is the sole owner of the TOM FORD brand and its related intellectual property. The TOM FORD brand is a luxury brand created in 2005, and this acquisition is expected to further strengthen the Company’s TOM FORD BEAUTY brand, which the Company has historically licensed, while simultaneously enabling the Company to create new licensing revenue streams. At the same time as the Company's transaction, an affiliate of Zegna separately purchased the interests in the TOM FORD fashion business that Zegna and its affiliates did not own (including the purchase of interests from the sellers of 001). The TOM FORD Acquisition has been accounted for as an asset acquisition as the fair value of the gross assets acquired is concentrated in the value of the TOM FORD trademark intangible asset. The acquisition of 001 included existing license relationships for certain uses of the brand name, which were modified, terminated or otherwise renegotiated in connection with the transaction, and are discussed separately in Note 15 – Revenue Recognition . The total cost of the asset acquisition is $2,578 million, inclusive of approximately $28 million of transaction related costs and $300 million of deferred consideration payable to the sellers included in Other noncurrent liabilities in the accompanying consolidated balance sheets as of June 30, 2023. Of the $300 million of deferred consideration payable to the sellers, $150 million is due in July 2025 and the remaining $150 million is due in July 2026. The total cost of the asset acquisition was allocated to the TOM FORD trademark intangible asset. The Company determined that the TOM FORD trademark intangible asset has an indefinite life, and will not be amortized, but will be subject to impairment assessment at least annually, or more frequently if certain events or circumstances exist.

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	12 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill The Company assigns goodwill of a reporting unit to the product categories in which that reporting unit operates at the time of acquisition. The following table presents goodwill by product category and the related change in the carrying amount: (In millions) Skin Care Makeup Fragrance Hair Care Total Balance as of June 30, 2022 Goodwill $ 1,702 $ 1,116 $ 249 $ 353 $ 3,420 Accumulated impairments (138) (732) (29) — (899) 1,564 384 220 353 2,521 Translation adjustments, goodwill (38) — 5 — (33) Translation adjustments, accumulated impairments (1) — (1) — (2) (39) — 4 — (35) Balance as of June 30, 2023 Goodwill 1,664 1,116 254 353 3,387 Accumulated impairments (139) (732) (30) — (901) 1,525 384 224 353 2,486 Impairment charges (291) — — — (291) Translation adjustments, goodwill (52) — (1) — (53) Translation adjustments, accumulated impairments 1 — — — 1 (342) — (1) — (343) Balance as of June 30, 2024 Goodwill 1,612 1,116 253 353 3,334 Accumulated impairments (429) (732) (30) — (1,191) $ 1,183 $ 384 $ 223 $ 353 $ 2,143 Other Intangible Assets Other intangible assets primarily include trademarks and customer lists, as well as patents, and license arrangements resulting from or related to businesses and assets purchased by the Company. Indefinite-lived intangible assets (e.g., trademarks) are not subject to amortization and are assessed at least annually for impairment as of the beginning of the fiscal fourth quarter or more frequently if certain events or circumstances exist. Other intangible assets (e.g., customer lists) are amortized on a straight-line basis over their expected period of benefit, approximately 7 years to 18 years. The costs incurred and expensed by the Company to extend or renew the term of acquired intangible assets during fiscal 2024 and 2023 were not material to the Company’s results of operations. As previously discussed in Note 5 - Asset Acquisition , in April 2023, the Company completed the TOM FORD Acquisition and recorded an indefinite-lived intangible asset (trademark) of $2,578 million. The trademark acquired in connection with the TOM FORD Acquisition is classified as level 3 in the fair value hierarchy. The fair value of the trademark was determined using an income approach, specifically the relief-from-royalty method. This method assumes that, in lieu of ownership, a third party would be willing to pay a royalty in order to obtain the rights to use the comparable asset. The significant assumptions used to estimate the fair value were revenue growth rates, terminal value, beauty royalty savings, the weighted average cost of capital used to discount future cash flows and royalty rates. The most significant unobservable input was the weighted average cost of capital used to discount future cash flows. Other intangible assets consist of the following: June 30, 2024 June 30, 2023 (In millions) Gross Accumulated Total Net Gross Accumulated Total Net Amortizable intangible assets: Customer lists and other $ 1,971 $ 895 $ 1,076 $ 2,030 $ 766 $ 1,264 Non-amortizable intangible assets: Trademarks 4,107 4,338 Total intangible assets $ 5,183 $ 5,602 The aggregate amortization expense related to amortizable intangible assets for fiscal 2024, 2023 and 2022 was $144 million, $145 million and $160 million, respectively. The estimated aggregate amortization expense for each of the next five fiscal years is as follows: Fiscal (In millions) 2025 2026 2027 2028 2029 Estimated aggregate amortization expense $ 141 $ 141 $ 124 $ 99 $ 98 Fiscal 2024 Impairment Analysis For further policy information on the Company's policy relating to its impairment assessment of goodwill and other indefinite-lived intangible assets, see Goodwill and Other Indefinite-lived Intangible Assets within Note 2 – Summary of Significant Accounting Policies. Based on the Company’s annual goodwill and other indefinite-lived intangible asset impairment testing as of April 1, 2024, the Company determined that the carrying value of the Dr.Jart+ reporting unit and trademark exceeded their estimated fair values. Given the lower-than-expected growth within key geographic regions, the reporting unit has made a strategic shift in its operating plan to exit the travel retail channel. This revised strategy also includes increased direct investment in other areas of the business, including in China, to support the brand’s future growth. As a result of these changes in strategy, the Company made revisions to the internal forecasts relating to the Dr.Jart+ reporting unit which were finalized and approved in the fiscal 2024 fourth quarter, and reflected in the goodwill and other indefinite-lived intangible asset impairment testing as of April 1, 2024. These changes in circumstances were also indicators that the carrying amounts of its respective long-lived assets may not be recoverable. The Company concluded that the carrying value of the trademark intangible asset exceeded its estimated fair value, which was determined utilizing the relief-from-royalty method to determine discounted projected future cash flows and recorded an impairment charge of $180 million. The Company then performed a recoverability analysis of the Dr.Jart+ long-lived asset group and, based on the estimated undiscounted cash flows of the asset group, concluded that the carrying amount of the long-lived assets were recoverable. After adjusting the carrying value of the trademark, the Company completed a quantitative impairment test for goodwill. As the carrying value of the reporting unit exceeded its estimated fair value, the Company recorded a goodwill impairment charge of $291 million. The estimated fair value of the reporting unit was based upon an equal weighting of the income and market approaches, utilizing estimated cash flows and a terminal value, discounted at a rate of return that reflects the relative risk of the cash flows, as well as valuation multiples derived from comparable publicly traded companies that are applied to operating performance of the reporting unit. The significant assumptions used in these approaches include revenue growth rates and profit margins, terminal value, weighted average cost of capital used to discount future cash flows, comparable market multiples for the reporting unit, and royalty rate for the trademark. The most significant unobservable input used to estimate the fair value of the reporting unit and trademark intangible asset was the weighted-average cost of capital, which was 10.5%. A summary of the impairment charges for the twelve months ended June 30, 2024 and the remaining trademark and goodwill carrying values as of June 30, 2024 are as follows: Impairment Charges (1) Carrying Value (In millions) Twelve Months Ended June 30, 2024 As of June 30, 2024 Reporting Unit Geographic Region Trademark Goodwill Trademark (2) Goodwill Dr.Jart+ Asia/Pacific $ 180 $ 291 $ 129 $ — (1) The date of the fair value measurement for the Dr.Jart+ reporting unit and trademark intangible asset was April 1, 2024. (2) The carrying value of the trademark intangible asset, subsequent to the impairment charge, is equal to its fair value. The impairment charges for the twelve months ended June 30, 2024 were reflected in the skin care product category. Fiscal 2023 Impairment Analysis During the fiscal 2023 second quarter, given the lower-than-expected results in the overall business, the Company made revisions to the internal forecasts relating to its Smashbox reporting unit. The Company concluded that the changes in circumstances in the reporting unit triggered the need for an interim impairment review of its trademark intangible asset. The remaining carrying value of the trademark intangible asset was not recoverable and the Company recorded an impairment charge of $21 million reducing the carrying value to zero. During the fiscal 2023 second quarter, the Dr.Jart+ reporting unit experienced lower-than-expected growth within key geographic regions and channels that continue to be impacted by the spread of COVID-19 variants, resurgence in cases, and the potential future impacts relating to the uncertainty of the duration and severity of COVID-19 impacting the financial performance of the reporting unit. In addition, due to macro-economic factors, Dr.Jart+ has experienced lower-than-expected growth within key geographic regions. The Too Faced reporting unit experienced lower-than-expected results in key geographic regions and channels coupled with delays in future international expansion to areas that continue to be impacted by COVID-19. As a result, the Company made revisions to the internal forecasts relating to its Dr.Jart+ and Too Faced reporting units. Additionally, there were increases in the weighted average cost of capital for both reporting units as compared to the prior year annual goodwill and other indefinite-lived intangible asset impairment testing as of April 1, 2022. The Company concluded that the changes in circumstances in the reporting units, along with increases in the weighted average cost of capital, triggered the need for interim impairment reviews of their trademarks and goodwill. These changes in circumstances were also an indicator that the carrying amounts of Dr.Jart+’s and Too Faced’s long-lived assets, including customer lists, may not be recoverable. Accordingly, the Company performed interim impairment tests for the trademarks and a recoverability test for the long-lived assets as of November 30, 2022. The Company concluded that the carrying value of the trademark intangible assets exceeded their estimated fair values, which were determined utilizing the relief-from-royalty method to determine discounted projected future cash flows and recorded an impairment charge of $100 million for Dr.Jart+ and $86 million for Too Faced. The Company concluded that the carrying amounts of the long-lived assets were recoverable. After adjusting the carrying values of the trademarks, the Company completed interim quantitative impairment tests for goodwill. As the estimated fair value of the Dr.Jart+ and Too Faced reporting units were in excess of their carrying values, the Company concluded that the carrying amounts of the goodwill were recoverable and did not record a goodwill impairment charge related to these reporting units. The fair values of these reporting units were based upon an equal weighting of the income and market approaches, utilizing estimated cash flows and a terminal value, discounted at a rate of return that reflects the relative risk of the cash flows, as well as valuation multiples derived from comparable publicly traded companies that are applied to operating performance of the reporting units. The significant assumptions used in these approaches include revenue growth rates and profit margins, terminal values, weighted average cost of capital used to discount future cash flows and royalty rates for trademarks. The most significant unobservable input used to estimate the fair values of the Dr.Jart+ and Too Faced trademark intangible assets was the weighted average cost of capital, which was 11% and 13%, respectively. A summary of the impairment charges for the twelve months ended June 30, 2023 and the remaining trademark and goodwill carrying values as of June 30, 2023, for each reporting unit, are as follows: Impairment Charges (1) Carrying Value (In millions) Twelve Months Ended As of June 30, 2023 Reporting Unit Geographic Region Trademarks Goodwill Trademarks (2) Goodwill Smashbox The Americas $ 21 $ — $ — $ — Dr.Jart+ Asia/Pacific 100 — 325 304 Too Faced The Americas 86 — 186 13 Total $ 207 $ — $ 511 $ 317 (1) The date of the fair value measurement for the Smashbox, Dr.Jart+, and Too Faced trademark intangible assets was December 31, 2022, November 30, 2022, and November 30, 2022, respectively. (2) The carrying values of the trademark intangible assets, subsequent to the impairment charges, are equal to their fair values. The impairment charges for the twelve months ended June 30, 2023 were reflected in the skin care product category for Dr.Jart+ and the makeup product category for Smashbox and Too Faced. Fiscal 2022 Impairment Analysis During the fiscal 2022 third quarter, given the lower-than-expected results from international expansion to areas that continue to be impacted by COVID-19, the Company made revisions to the internal forecasts relating to its GLAMGLOW reporting unit. The Company concluded that the changes in circumstances in the reporting unit triggered the need for an interim impairment review of its trademark intangible asset. The remaining carrying value of the trademark intangible asset was not recoverable and the Company recorded an impairment charge of $11 million reducing the carrying value to zero. During the fiscal 2022 third quarter, given the lower-than-expected growth within key geographic regions and channels for Dr.Jart+ that continue to be impacted by the spread of COVID-19 variants and resurgence in cases and the potential future impacts relating to the uncertainty of the duration and severity of COVID-19 impacting the financial performance of the brand, the lower than expected growth in key retail channels for DECIEM, and the lower than expected results from international expansion to areas that continue to be impacted by COVID-19 for Too Faced, the Company made revisions to the internal forecasts relating to its Dr.Jart+, DECIEM and Too Faced reporting units. The Company concluded that the changes in circumstances in the reporting units triggered the need for interim impairment reviews of their trademarks and goodwill. These changes in circumstances were also an indicator that the carrying amounts of Dr.Jart+’s, DECIEM’s and Too Faced’s long-lived assets, including customer lists, may not be recoverable. Accordingly, the Company performed interim impairment tests for the trademarks and a recoverability test for the long-lived assets as of February 28, 2022. The Company concluded that the carrying amounts of the long-lived assets were recoverable. For the Dr.Jart+ reporting unit, the Company also concluded that the carrying value of the trademark intangible asset exceeded its estimated fair value, which was determined utilizing the relief-from-royalty method to determine discounted projected future cash flows, and recorded an impairment charge of $205 million. For the Too Faced and DECIEM reporting units, as the carrying values of the trademarks did not exceed their estimated fair values, which were determined utilizing the relief-from-royalty method to determine discounted projected future cash flows, the Company did not record impairment charges. The estimated fair values of Too Faced’s and DECIEM's trademarks exceeded their carrying values by 13% and 3%, respectively. For the Too Faced and DECIEM trademark intangible assets, if all other assumptions are held constant, an increase of 100 basis points and 50 basis points, respectively, in the weighted average cost of capital would result in an impairment charge. After adjusting the carrying values of the trademarks, the Company completed interim quantitative impairment tests for goodwill. As the estimated fair value of the Dr.Jart+, DECIEM and Too Faced reporting units were in excess of their carrying values, the Company concluded that the carrying amounts of the goodwill were recoverable and did not record a goodwill impairment charge related to these reporting units. The fair values of these reporting units were based upon an equal weighting of the income and market approaches, utilizing estimated cash flows and a terminal value, discounted at a rate of return that reflects the relative risk of the cash flows, as well as valuation multiples derived from comparable publicly traded companies that are applied to operating performance of the reporting units. The significant assumptions used in these approaches include revenue growth rates and profit margins, terminal values, weighted average cost of capital used to discount future cash flows and royalty rates for trademarks. The most significant unobservable input used to estimate the fair value of the Dr.Jart+ trademark intangible asset was the weighted average cost of capital, which was 10.5%. Based on the Company’s annual goodwill and other indefinite-lived intangible asset impairment testing as of April 1, 2022, the Company determined that the carrying value of the Dr.Jart+ trademark exceeded its fair value. This determination was made based on updated internal forecasts. Given the lower-than-expected growth within key geographic regions and channels that continued to be impacted by the spread of COVID-19 variants, the resurgence in cases, regional lockdowns and the potential future impacts relating to the uncertainty of the duration and severity of COVID-19 impacting the financial performance of the brand, the Company made revisions to the internal forecasts relating to the Dr.Jart+ reporting unit. These changes in circumstances were also indicators that the carrying amounts of their respective long-lived assets may not be recoverable. The Company concluded that the carrying value of the trademark intangible asset exceeded its estimated fair value, which was determined utilizing the relief-from-royalty method to determine discounted projected future cash flows, and recorded an impairment charge of $25 million. The Company concluded that the carrying amount of the long-lived assets were recoverable. After adjusting the carrying value of the trademark, the Company completed a quantitative impairment test for goodwill. As the estimated fair value of the reporting unit was in excess of its carrying value, the Company concluded that the carrying amount of the goodwill was recoverable and did not record a goodwill impairment charge related to the reporting unit. The fair value of the reporting unit was based upon an equal weighting of the income and market approaches, utilizing estimated cash flows and a terminal value, discounted at a rate of return that reflects the relative risk of the cash flows, as well as valuation multiples derived from comparable publicly traded companies that are applied to operating performance of the reporting units. The significant assumptions used in these approaches include revenue growth rates and profit margins, terminal values, weighted average cost of capital used to discount future cash flows and royalty rates for trademarks. The most significant unobservable input used to estimate the fair value of the trademark intangible asset was the weighted average cost of capital, which was 10.5%. A summary of the trademark impairment charges for the three and twelve months ended June 30, 2022 and the remaining carrying values as of June 30, 2022, for each reporting unit, are as follows: (In millions) Impairment Charges (1) Carrying Value (2) Reporting Unit: Geographic Region Three Months Ended June 30, 2022 Twelve Months Ended June 30, 2022 As of June 30, 2022 GLAMGLOW The Americas $ — $ 11 $ — Dr.Jart+ Asia/Pacific 25 230 428 Total $ 25 $ 241 $ 428 (1) The date of the fair value measurement for the GLAMGLOW trademark intangible asset was March 31, 2022. The dates of the fair value measurements for the Dr.Jart+ trademark intangible asset were February 28, 2022 and April 1, 2022. (2) The carrying values of the trademark intangible assets, subsequent to the impairment charges, are equal to their fair values. The impairment charges for the three and twelve months ended June 30, 2022 were reflected in the skin care product category.

LEASES

LEASES	12 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Leases	LEASES The Company has operating and finance leases primarily for real estate properties, including corporate offices, facilities to support the Company’s manufacturing, assembly, research and development and distribution operations and retail stores, as well as information technology equipment, automobiles and office equipment, with remaining terms of approximately 1 year to 56 years. Some of the Company’s lease contracts include options to extend the leases for up to 30 years, while others include options to terminate the leases within 25 years. A summary of total lease costs and other information for the periods relating to the Company’s finance and operating leases is as follows: June 30 (In millions) 2024 2023 2022 Total lease cost Finance lease cost: Amortization of right-of-use assets $ 11 $ 11 $ 12 Interest on lease liabilities — — — Operating lease cost 458 444 465 Short-term lease cost 45 41 24 Variable lease cost 227 213 332 Total $ 741 $ 709 $ 833 Other information Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 489 $ 463 $ 506 Financing cash flows from finance leases $ 10 $ 15 $ 18 Right-of-use assets obtained in exchange for new operating lease liabilities $ 466 $ 273 $ 279 Right-of-use assets obtained in exchange for new finance lease liabilities $ 1 $ 34 $ 10 Weighted-average remaining lease term – finance leases 16 years 14 years 3 years Weighted-average remaining lease term – operating leases 9 years 9 years 9 years Weighted-average discount rate – finance leases 0.3 % 0.4 % 1.0 % Weighted-average discount rate – operating leases 2.8 % 2.5 % 2.4 % The total future minimum lease payments, over the remaining lease term, relating to the Company’s operating and finance leases for each of the next five fiscal years and thereafter is as follows: (In millions) Operating Leases Finance Leases Fiscal 2025 $ 406 $ 4 Fiscal 2026 374 3 Fiscal 2027 303 2 Fiscal 2028 225 2 Fiscal 2029 167 1 Thereafter 841 20 Total future minimum lease payments 2,316 32 Less imputed interest (261) — Total $ 2,055 $ 32 Operating lease and finance lease liabilities included in the consolidated balance sheet are as follows: June 30 2024 2023 (In millions) Operating Leases Finance Leases Operating Leases Finance Leases Total current liabilities $ 354 $ 4 $ 357 $ 9 Total noncurrent liabilities 1,701 28 1,698 33 Total $ 2,055 $ 32 $ 2,055 $ 42 Other assets Current debt Long-term debt
Leases	LEASES The Company has operating and finance leases primarily for real estate properties, including corporate offices, facilities to support the Company’s manufacturing, assembly, research and development and distribution operations and retail stores, as well as information technology equipment, automobiles and office equipment, with remaining terms of approximately 1 year to 56 years. Some of the Company’s lease contracts include options to extend the leases for up to 30 years, while others include options to terminate the leases within 25 years. A summary of total lease costs and other information for the periods relating to the Company’s finance and operating leases is as follows: June 30 (In millions) 2024 2023 2022 Total lease cost Finance lease cost: Amortization of right-of-use assets $ 11 $ 11 $ 12 Interest on lease liabilities — — — Operating lease cost 458 444 465 Short-term lease cost 45 41 24 Variable lease cost 227 213 332 Total $ 741 $ 709 $ 833 Other information Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 489 $ 463 $ 506 Financing cash flows from finance leases $ 10 $ 15 $ 18 Right-of-use assets obtained in exchange for new operating lease liabilities $ 466 $ 273 $ 279 Right-of-use assets obtained in exchange for new finance lease liabilities $ 1 $ 34 $ 10 Weighted-average remaining lease term – finance leases 16 years 14 years 3 years Weighted-average remaining lease term – operating leases 9 years 9 years 9 years Weighted-average discount rate – finance leases 0.3 % 0.4 % 1.0 % Weighted-average discount rate – operating leases 2.8 % 2.5 % 2.4 % The total future minimum lease payments, over the remaining lease term, relating to the Company’s operating and finance leases for each of the next five fiscal years and thereafter is as follows: (In millions) Operating Leases Finance Leases Fiscal 2025 $ 406 $ 4 Fiscal 2026 374 3 Fiscal 2027 303 2 Fiscal 2028 225 2 Fiscal 2029 167 1 Thereafter 841 20 Total future minimum lease payments 2,316 32 Less imputed interest (261) — Total $ 2,055 $ 32 Operating lease and finance lease liabilities included in the consolidated balance sheet are as follows: June 30 2024 2023 (In millions) Operating Leases Finance Leases Operating Leases Finance Leases Total current liabilities $ 354 $ 4 $ 357 $ 9 Total noncurrent liabilities 1,701 28 1,698 33 Total $ 2,055 $ 32 $ 2,055 $ 42 Other assets Current debt Long-term debt

CHARGES ASSOCIATED WITH RESTRUC

CHARGES ASSOCIATED WITH RESTRUCTURING AND OTHER ACTIVITIES	12 Months Ended
	Jun. 30, 2024
Restructuring and Related Activities [Abstract]
CHARGES ASSOCIATED WITH RESTRUCTURING AND OTHER ACTIVITIES	CHARGES ASSOCIATED WITH RESTRUCTURING AND OTHER ACTIVITIES During fiscal 2024, the Company incurred charges associated with restructuring activities as follows: Sales Cost of Sales Operating Expenses Total (In millions) Restructuring Other Restructuring Program Component of the Profit Recovery and Growth Plan $ — $ — $ 92 $ 23 $ 115 Post-COVID Business Acceleration Program 1 1 1 7 10 Total $ 1 $ 1 $ 93 $ 30 $ 125 The types of activities included in restructuring and other charges, and the related accounting criteria, are described below. Charges associated with restructuring and other activities are not allocated to the Company's product categories or geographic regions because they are centrally directed and controlled, are not included in internal measures of product category or geographic region performance and result from activities that are deemed Company-wide initiatives to redesign, resize and reorganize select areas of the business. Restructuring Program Component of the Profit Recovery and Growth Plan ("Restructuring Program") As announced on November 1, 2023, the Company launched a Profit Recovery Plan, now known as the Profit Recovery and Growth Plan ("PRGP"), to help progressively rebuild its profit margins in fiscal years 2025 and 2026. The PRGP is focused on rebuilding stronger, more sustainable profitability, supporting sales growth acceleration and increasing speed and agility. The plan is designed to improve gross margin, lower the cost base and reduce overhead expenses, while increasing investments in key consumer-facing activities. Upon completion of this plan, the Company expects to have improved its gross margin and expense base to drive greater operating leverage for the future. As a component of the PRGP, on February 5, 2024, the Company announced a two-year restructuring program. The restructuring program’s main focus includes the reorganization and rightsizing of certain areas of the Company as well as simplification and acceleration of processes. The Company committed to this course of action on February 1, 2024. In connection with the restructuring program, as of June 30, 2024, the Company estimates a net reduction in the range of approximately 1,800 to 3,000 positions globally, which is about 3-5% of its positions including temporary and part-time employees as of June 30, 2023. This reduction takes into account the elimination of some positions as well as retraining and redeployment of certain employees in select areas. The Company plans to substantially complete specific initiatives under the restructuring program through fiscal 2026. The Company expects that the restructuring program will result in restructuring and other charges totaling between $500 million and $700 million, before taxes, consisting of employee-related costs, contract terminations, asset write-offs and other costs associated with implementing these initiatives. Restructuring Program Approvals The Restructuring Program cumulative charges approved by the Company as of June 30, 2024 and through July 19, 2024, as previously disclosed on July 23, 2024, were: Sales Cost of Sales Operating Expenses Total (In millions) Restructuring Other Total Charges Approved Cumulative charges through June 30, 2024 $ — $ — $ 109 $ 78 $ 187 July 1, 2024 - July 19, 2024 1 9 24 12 46 Cumulative charges through July 19, 2024 $ 1 $ 9 $ 133 $ 90 $ 233 Included in the above table, cumulative Restructuring Program restructuring initiatives approved by the Company as of June 30, 2024 and through July 19, 2024, as previously disclosed on July 23, 2024, by major cost type were: (In millions) Employee- Asset- Contract Other Exit Total Restructuring Charges Approved Cumulative charges through June 30, 2024 $ 93 $ 7 $ — $ 9 $ 109 July 1, 2024 - July 19, 2024 23 — — 1 24 Cumulative charges through July 19, 2024 $ 116 $ 7 $ — $ 10 $ 133 Specific actions taken since the Restructuring Program inception through July 19, 2024, to reorganize and right-size certain areas of the Company to drive future sales growth and productivity to rebuild gross and operating margin profitability include: • Value Chain Optimization – The Company approved initiatives to reduce spans and layers and right-size organizational capability within its supply chain. These actions will primarily result in employee severance through a net reduction in workforce, as well as costs to decommission and relocate activities, and asset write-offs. • Enabling Function Re-Invention - The Company approved initiatives to reorganize and right-size its go-to market structure, including across various corporate functions. These activities will primarily result in employee severance through a net reduction in workforce. • Future of Brand-led Model – The Company approved initiatives to focus on spans and layers to begin to develop a leaner, faster, and more agile marketing and creative organization. These activities will primarily result in employee severance through a net reduction in workforce. • Go-to-Market Operating Model Acceleration – The Company approved initiatives to exit unprofitable brands from specific markets and distribution channels. These activities will result in inventory write-offs, employee severance through a net reduction in workforce, as well as costs associated with sales returns. Restructuring Program Restructuring and Other Charges The Company classifies restructuring charges as follows: Employee-Related Costs – Employee-related costs are primarily comprised of severance and other post-employment benefit costs, calculated based on salary levels, prior service and other statutory minimum benefits, if applicable. Asset-Related Costs – Asset-related costs primarily consist of asset write-offs or accelerated depreciation related to long-lived assets (including rights associated with commercial operating leases and operating lease right-of-use assets) that will be taken out of service prior to their existing useful life as a direct result of a restructuring initiative. Contract Terminations – Costs related to contract terminations include continuing payments to a third party after the Company has ceased benefiting from the rights conveyed in the contract, or a payment made to terminate a contract prior to its expiration. Other Exit Costs – Other exit costs related to restructuring activities generally include costs to relocate facilities or employees, recruiting to fill positions as a result of relocation of operations, and outplacement for separated employees. The Company classifies other charges associated with restructuring activities as follows: Sales Returns and Cost of Sales – Product returns (offset by the related cost of sales) and inventory write-offs or write-downs as a direct result of an approved restructuring initiative to exit certain businesses or locations will be recorded as a component of Net sales and/or Cost of sales when estimable and reasonably assured. Other Charges – Other charges related to the design and implementation of approved initiatives, which are charged to Operating expenses as incurred and primarily include the following: • Consulting and other professional services for organizational design of the future structures and processes as well as the implementation thereof; • Temporary labor backfill; • Costs to establish and maintain a Project Management Office for the duration of the Restructuring Program, including internal costs for employees dedicated solely to project management activities, and consulting services to assist with business case development; and • Recruitment and training costs for new and reskilled employees to acquire and apply the capabilities needed to perform responsibilities as a direct result of an approved restructuring initiative. The Company records approved charges associated with restructuring and other activities once the relevant accounting criteria have been met. Total cumulative charges recorded associated with restructuring and other activities for the Restructuring Program through June 30, 2024 were: Sales Cost of Sales Operating Expenses Total (In millions) Restructuring Other Total Charges Cumulative charges through June 30, 2024 $ — $ — $ 92 $ 23 $ 115 (In millions) Employee- Asset- Contract Other Exit Total Restructuring Charges Cumulative charges through June 30, 2024 $ 90 $ 2 $ — $ — $ 92 Changes in accrued restructuring charges from the Restructuring Program inception through June 30, 2024 were: (In millions) Employee- Asset- Contract Other Exit Total Charges $ 90 $ 2 $ — $ — $ 92 Cash payments — — — — — Non-cash asset write-offs — (2) — — (2) Translation and other adjustments (2) — — — (2) Balance at June 30, 2024 $ 88 $ — $ — $ — $ 88 Accrued restructuring charges at June 30, 2024 relating to the Restructuring Program are expected to result in cash expenditures funded from cash provided by operations of approximately $59 million, $24 million, and $5 million for fiscal 2025, 2026, and 2027, respectively. Post-COVID Business Acceleration Program On August 20, 2020, the Company announced a two-year restructuring program, Post-COVID Business Acceleration Program (the “PCBA Program”), designed to realign the Company's business to address the dramatic shifts to its distribution landscape and consumer behaviors in the wake of the COVID-19 pandemic. The PCBA Program’s main areas of focus included accelerating the shift to online with the realignment of the Company’s distribution network reflecting freestanding store and certain department store closures, with a focus on North America and Europe, the Middle East & Africa; the reduction in brick-and-mortar point of sale employees and related support staff; and the redesign of the Company’s regional branded marketing organizations, plus select opportunities in global brands and functions. As of June 30, 2024, the net reduction of positions over the duration of the PCBA Program was approximately 2,800 positions globally. This reduction included the elimination of some positions, retraining and redeployment of certain employees and investment in new positions in key areas. As of June 30, 2024, over the duration of the PCBA program, the Company closed approximately 16% of its freestanding stores. The Company approved specific initiatives under the PCBA Program through fiscal 2022 and has substantially completed those initiatives. Inclusive of approvals from inception through June 30, 2022, as of June 30, 2024, that the PCBA Program resulted in related restructuring and other charges totaling approximately $435 million, before taxes. Specific actions taken during the PCBA Program include: • Optimize Digital Organization and Other Go-To-Market Organizations – The Company approved initiatives to enhance its go-to-market capabilities and shift more resources to support online growth. These initiatives resulted in a net reduction of the workforce, which includes position eliminations, the re-leveling of certain positions and an investment in new capabilities. • Optimize Select Marketing, Brand and Global Functions – The Company reduced its corporate and certain of its brand office footprints, by restructuring where and how its employees work and collaborate. In addition, the Company approved initiatives to reduce organizational complexity and leverage scale across various Global functions. These actions resulted in asset write-offs, employee severance, lease termination fees, and consulting and other professional services for the design and implementation of the future structures and processes. • Optimize Distribution Network – To help restore profitability to pre-COVID-19 pandemic levels in certain areas of its distribution network and, as part of a broader initiative to be completed in phases, the Company approved initiatives to close a number of underperforming freestanding stores, counters and other retail locations, mainly in certain affiliates across all geographic regions, including the Company's travel retail network. These closures reflected changing consumer behaviors including higher demand for online and omnichannel capabilities. These activities resulted in product returns, termination of contracts, a net reduction in workforce, and inventory and other asset write-offs. • Exit of the Global Distribution of BECCA Products – In reviewing the Company's brand portfolio to improve efficiency and the sustainability of long-term investments, the decision was made to exit the global distribution of BECCA products due to its limited distribution, the ongoing decline in product demand and the challenging environment caused by the COVID-19 pandemic. These activities resulted in charges for the impairment of goodwill and other intangible assets, product returns, termination of contracts, and employee severance. • Exit of Certain Designer Fragrance Licenses – In reviewing the Company’s brand portfolio of fragrances and to focus on investing its resources on alternative opportunities for long-term growth and value creation globally, the Company announced that it would not renew its license agreements for the Donna Karan New York, DKNY, Michael Kors, Tommy Hilfiger and Ermenegildo Zegna product lines when their respective terms expired in June 2023. The Company negotiated early termination agreements with each of the licensors effective June 30, 2022. These actions resulted in asset write-offs, including charges for the impairment of goodwill, employee-related costs, and consulting and legal fees. • Brand Transformation – In reviewing the Company’s brand portfolio to accelerate growth within the makeup product category and to support long-term investments, the decision was made to strategically reposition Smashbox to capitalize on changing consumer preferences and to mitigate the impact caused by the COVID-19 pandemic on the brand. These actions primarily resulted in product returns and inventory write-offs. PCBA Program Restructuring and Other Charges For the classification of the restructuring and other charges for the PCBA program, please refer to the Restructuring Program Component of the Profit Recovery and Growth Plan above. The Company records approved charges associated with restructuring and other activities once the relevant accounting criteria have been met. Total cumulative charges recorded associated with restructuring and other activities for the PCBA Program were: Sales Cost of Sales Operating Expenses Total (In millions) Restructuring Other Total Charges Fiscal 2021 $ 14 $ 2 $ 201 $ 4 $ 221 Fiscal 2022 4 5 109 9 127 Fiscal 2023 27 3 35 12 77 Fiscal 2024 1 1 1 7 10 Cumulative through June 30, 2024 $ 46 $ 11 $ 346 $ 32 $ 435 (In millions) Employee- Asset- Related Costs (1) Contract Other Exit Total Restructuring Charges (Adjustments) Fiscal 2021 $ 119 $ 75 $ 6 $ 1 $ 201 Fiscal 2022 84 11 13 1 $ 109 Fiscal 2023 3 31 (2) 3 35 Fiscal 2024 (4) 4 1 — 1 Cumulative through June 30, 2024 $ 202 $ 121 $ 18 $ 5 $ 346 (1) Asset-related costs include fiscal 2021 goodwill and other intangible asset impairment charges of $13 million and $34 million, respectively, relating to the exit of the global distribution of BECCA products. Changes in accrued restructuring charges from the PCBA Program inception through June 30, 2024 were: (In millions) Employee- Asset- Contract Other Exit Total Charges $ 119 $ 75 $ 6 $ 1 $ 201 Cash payments (18) — (6) (1) (25) Non-cash asset write-offs — (75) — — (75) Balance at June 30, 2021 101 — — — 101 Charges 84 $ 11 $ 13 1 109 Cash payments (52) — $ (13) 1 (64) Non-cash asset write-offs — (11) (11) Translation and other adjustments (8) — $ — (2) (10) Balance at June 30, 2022 125 — — — 125 Charges 3 31 (2) $ 3 35 Cash payments (40) — (1) $ (3) (44) Non-cash asset write-offs — (31) — $ — (31) Translation and other adjustments (7) — 4 $ — (3) Balance at June 30, 2023 81 — 1 — 82 Charges (4) 4 1 — 1 Cash payments (49) — (1) — (50) Non-cash asset write-offs — (4) — — (4) Translation and other adjustments — — (1) — (1) Balance at June 30, 2024 $ 28 $ — $ — $ — $ 28 Accrued restructuring charges at June 30, 2024 relating to the PCBA Program are expected to result in cash expenditures funded from cash provided by operations of approximately $25 million and $3 million for each of fiscal 2025 and 2026, respectively.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The provision for income taxes is comprised of the following: Year Ended June 30 (In millions) 2024 2023 2022 Current: Federal $ 185 $ 141 $ 219 Foreign 426 424 533 State and local 17 8 25 628 573 777 Deferred: Federal (147) (105) (12) Foreign (111) (77) (136) State and local (7) (4) (1) (265) (186) (149) $ 363 $ 387 $ 628 Earnings before income taxes include amounts contributed by the Company’s foreign operations of $1,347 million, $1,818 million and $2,248 million for fiscal 2024, 2023 and 2022, respectively. A portion of these earnings is taxed in the United States. On August 16, 2022, the U.S. federal government enacted the Inflation Reduction Act, including a tax provision implementing a 15% corporate alternative minimum tax based on global adjusted financial statement income. The corporate alternative minimum tax became effective beginning with the Company's first quarter of fiscal 2024 and did not have an impact on the Company's consolidated financial statements for the year-ended June 30, 2024. On July 20, 2020, the U.S. government released final and proposed regulations under the global intangible low-taxed income (“GILTI”) provisions of the TCJA that provide for a high-tax exception to the GILTI tax. These regulations are retroactive to the original enactment of the GILTI tax provision, commencing with the Company's 2019 fiscal year. The Company has elected to apply the GILTI high-tax exception beginning with fiscal 2019 through 2023, and intends to make the election for fiscal 2024. A reconciliation of the U.S. federal statutory income tax rate to the Company’s actual effective tax rate on earnings before income taxes is as follows: Year Ended June 30 2024 2023 2022 Provision for income taxes at statutory rate 21.0 % 21.0 % 21.0 % Increase (decrease) due to: State and local income taxes, net of federal tax benefit 1.1 0.3 0.7 Stock-based compensation arrangements – excess tax expense (benefits), net 3.0 (0.8) (2.7) Taxation of foreign operations 15.9 8.6 1.4 Income tax reserve adjustments (0.4) (0.1) 0.3 Nondeductible goodwill impairment charges 7.9 — — U.S. research and development tax credit (2.2) (0.9) (0.3) Other, net 0.7 (0.4) 0.3 Effective tax rate (1) 47.0 % 27.7 % 20.7 % (1) For fiscal 2024 and fiscal 2023, the reconciling items between the Company's U.S. federal statutory income tax rate and the Company's actual effective tax rate were materially impacted by the decrease in earnings before income taxes from fiscal 2023 to fiscal 2024 and from fiscal 2022 to fiscal 2023, respectively. Income tax reserve adjustments represent changes in the Company’s net liability for unrecognized tax benefits related to prior-year tax positions including the impact of tax settlements and lapses of the applicable statutes of limitations. All excess tax benefits and tax deficiencies related to stock-based compensation awards are recorded as income tax expense or benefit in the consolidated statements of earnings. The Company recognized $23 million of income tax expense associated with stock-based compensation for the fiscal year ended June 30, 2024, as compared to $11 million and $82 million of excess tax benefits, net as a reduction to the provision for income taxes in the accompanying consolidated statements of earnings for the fiscal year ended June 30, 2023 and 2022, respectively. The Company has $5,038 million of undistributed earnings of foreign subsidiaries as of June 30, 2024. Included in this amount is approximately $1,000 million of earnings considered permanently reinvested for which no deferred income taxes have been provided. If these reinvested earnings were repatriated into the United States as dividends, the Company would be subject to approximately $70 million in taxes, primarily related to foreign withholding taxes as well as additional state and local income taxes. During the fourth quarter of fiscal 2023, in connection with a planned change in the Company's legal entity structure that exempts foreign withholding tax on certain undistributed earnings, the Company changed its assertion regarding its ability and intent to indefinitely reinvest undistributed earnings of certain foreign subsidiaries and determined that $5,548 million of undistributed earnings of such foreign subsidiaries are no longer considered indefinitely reinvested. The federal, state, local and foreign deferred income tax impact of this change is not material. Significant components of the Company’s deferred income tax assets and liabilities were as follows: June 30 (In millions) 2024 2023 Deferred tax assets: Compensation-related expenses $ 198 $ 189 Inventory obsolescence and other inventory related reserves 103 75 Retirement benefit obligations 45 60 Various accruals not currently deductible 228 225 Net operating loss, credit and other carryforwards 405 225 Unrecognized state tax benefits and accrued interest 13 12 Lease liabilities 462 479 Research-related expenses 248 200 Other differences between tax and financial statement values 103 107 1,805 1,572 Valuation allowance for deferred tax assets (238) (200) Total deferred tax assets 1,567 1,372 Deferred tax liabilities: Fixed assets and intangibles (614) (264) ROU assets (422) (432) Partnership interest in DECIEM — (404) Other differences between tax and financial statement values (32) (32) Total deferred tax liabilities (1,068) (1,132) Total net deferred tax assets $ 499 $ 240 As of June 30, 2024, the Company had net deferred tax assets of $499 million, of which $1,018 million is included in Other assets and $519 million is included in Other noncurrent liabilities in the accompanying consolidated balance sheets. As of June 30, 2023, the Company had net deferred tax assets of $240 million, of which $860 million is included in Other assets and $620 million is included in Other noncurrent liabilities in the accompanying consolidated balance sheets. As of June 30, 2024 and 2023, certain subsidiaries had $657 million and $528 million of foreign net operating loss carryforwards, respectively, the tax effect of which was $170 million and $143 million, respectively, as well as U.S. federal tax credit carryforwards of $180 million and $79 million, respectively, and state and local tax credit carryforwards of $8 million. With the exception of $447 million of net operating losses with an indefinite carryforward period as of June 30, 2024, these net operating loss carryforwards expire at various dates through fiscal 2037. The tax credit carryforwards will begin to expire in fiscal 2025. The Company has recorded a valuation allowance of $238 million and $200 million as of June 30, 2024 and 2023, respectively, principally against certain net operating loss carryforwards and tax credit carryforwards. A valuation allowance has been provided for those deferred tax assets for which, in the opinion of management, it is more-likely-than-not that the deferred tax assets will not be realized. As of June 30, 2024, 2023 and 2022, the Company had gross unrecognized tax benefits of $65 million, $63 million, and $61 million, respectively. At June 30, 2024, the total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate was $55 million. The Company classifies applicable interest and penalties related to unrecognized tax benefits as a component of the provision for income taxes. The total gross accrued interest and penalty expense recorded during fiscal 2024, 2023 and 2022 in the accompanying consolidated statements of earnings was $3 million, $2 million and $4 million, respectively. The total gross accrued interest and penalties in the accompanying consolidated balance sheets at June 30, 2024 and 2023 was $17 million and $15 million, respectively. A reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows: June 30 (In millions) 2024 2023 2022 Beginning of the year balance of gross unrecognized tax benefits $ 63 $ 61 $ 62 Gross amounts of increases as a result of tax positions taken during a prior period 4 9 12 Gross amounts of decreases as a result of tax positions taken during a prior period (4) (5) (6) Gross amounts of increases as a result of tax positions taken during the current period 5 4 7 Amounts of decreases in unrecognized tax benefits relating to settlements with taxing authorities (1) (4) (12) Reductions to unrecognized tax benefits as a result of a lapse of the applicable statutes of limitations (2) (2) (2) End of year balance of gross unrecognized tax benefits $ 65 $ 63 $ 61 Earnings from the Company’s global operations are subject to tax in various jurisdictions both within and outside the United States. The Company participates in the U.S. Internal Revenue Service (the “IRS”) Compliance Assurance Program (“CAP”). The objective of CAP is to reduce taxpayer burden and uncertainty while assuring the IRS of the accuracy of income tax returns prior to filing, thereby reducing or eliminating the need for post-filing examinations. Subsequent to June 30, 2024, the IRS completed its examination procedures with respect to fiscal 2023 under the IRS CAP. There was no impact to the Company’s consolidated financial statements. The Company expects to receive formal notification of the conclusion of the IRS CAP process for fiscal 2023 during fiscal 2025. As of June 30, 2024, the compliance process was ongoing with respect to fiscal 2024. The Company is currently undergoing income tax examinations and controversies in several state, local and foreign jurisdictions. These matters are in various stages of completion and involve complex multi-jurisdictional issues common among multinational enterprises, including transfer pricing, which may require an extended period of time for resolution. During fiscal 2024, the Company concluded various state, local and foreign income tax audits and examinations while several other matters, including those noted above, were initiated or remained pending. On the basis of the information available as of June 30, 2024, the Company does not expect significant changes to the total amount of unrecognized tax benefits within the next twelve months. The tax years subject to examination vary depending on the tax jurisdiction. As of June 30, 2024, the following tax years remain subject to examination by the major tax jurisdictions indicated: Major Jurisdiction Open Fiscal Years Belgium 2019 – 2024 Canada 2020 – 2024 China 2021 – 2024 France 2019 – 2024 Germany 2017 – 2024 Hong Kong 2018 – 2024 Italy 2019 – 2024 Japan 2020 – 2024 Korea 2021 - 2024 Spain 2018 – 2024 Switzerland 2020 – 2024 United Kingdom 2023 – 2024 United States 2023 – 2024 State of California 2018 – 2024 State and City of New York 2018 – 2024 The Company is also subject to income tax examinations in numerous other state, local and foreign jurisdictions. The Company believes that its tax reserves are adequate for all years subject to examination.

SUPPLIER FINANCE PROGRAMS

SUPPLIER FINANCE PROGRAMS	12 Months Ended
	Jun. 30, 2024
Payables and Accruals [Abstract]
SUPPLIER FINANCE PROGRAMS	SUPPLIER FINANCE PROGRAMS Under the Company's supplier finance programs, the Company agrees to pay the banks the stated amount of confirmed invoices from its designated suppliers on the due dates of the invoices. The Company may terminate the agreements upon written notice (with notice periods ranging from 30 to 60 days) or immediately upon a breach. The supplier invoices that have been confirmed as valid under the programs require payment in full within 90 days of the invoice date. Outstanding obligations confirmed as valid totaling $58 million and $52 million as of June 30, 2024 and 2023, respectively, are included in Accounts payable

OTHER ACCRUED AND NONCURRENT LI

OTHER ACCRUED AND NONCURRENT LIABILITIES	12 Months Ended
	Jun. 30, 2024
Other Liabilities Disclosure [Abstract]
OTHER ACCRUED AND NONCURRENT LIABILITIES	OTHER ACCRUED AND NONCURRENT LIABILITIES Other accrued liabilities consist of the following: June 30 (In millions) 2024 2023 Employee compensation $ 576 $ 546 Accrued sales incentives 426 321 Deferred revenue 327 323 Payroll and other non-income taxes 333 297 Accrued income taxes 335 222 Other 1,407 1,507 $ 3,404 $ 3,216

DEBT

DEBT	12 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
DEBT	DEBT The Company’s current and long-term debt and available financing consist of the following: Debt at June 30 Available financing at June 30, 2024 (In millions) 2024 2023 Committed Uncommitted 5.150% Senior Notes, due May 15, 2053 ("2053 Senior Notes") $ 590 $ 590 $ — $ — 3.125% Senior Notes, due December 1, 2049 (“2049 Senior Notes”) 637 636 — — 4.150% Senior Notes, due March 15, 2047 (“2047 Senior Notes”) 494 494 — — 4.375% Senior Notes, due June 15, 2045 (“2045 Senior Notes”) 454 454 — — 3.700% Senior Notes, due August 15, 2042 (“2042 Senior Notes”) 247 247 — — 6.000% Senior Notes, due May 15, 2037 (“2037 Senior Notes”) 296 295 — — 5.000% Senior Notes, due February 14, 2034 ("2034 Senior Notes) 644 — — — 5.75% Senior Notes, due October 15, 2033 (“October 2033 Senior Notes”) 198 198 — — 4.650% Senior Notes, due May 15, 2033 ("May 2033 Senior Notes") 695 695 — — 1.950% Senior Notes, due March 15, 2031 (“2031 Senior Notes”) 551 550 — — 2.600% Senior Notes, due April 15, 2030 ("2030 Senior Notes") 595 589 — — 2.375% Senior Notes, due December 1, 2029 (“2029 Senior Notes”) 644 643 — — 4.375% Senior Notes, due May 15, 2028 ("2028 Senior Notes") 696 696 — — 3.150% Senior Notes, due March 15, 2027 (“2027 Senior Notes”) 499 499 — — 2.000% Senior Notes, due December 1, 2024 (“2024 Senior Notes”) 499 498 — — Commercial paper (1) — 988 — 2,500 Other long-term borrowings 28 33 — — Other current borrowings 4 9 — 155 Revolving credit facility — — 2,500 — 7,771 8,114 $ 2,500 $ 2,655 Less current debt including current maturities (504) (997) $ 7,267 $ 7,117 (1) As of June 30, 2023, commercial paper consisted of $1,000 million principal and unamortized debt discount of $12 million. As of June 30, 2024, the Company’s long-term debt consisted of the following: Notes (1) Issue Date Price Yield Principal Unamortized Interest rate Debt Semi-annual interest ($ in millions) 2053 Senior Notes May 2023 99.455 % 5.186 % $ 600 $ (3) $ — $ (7) May 15/November 15 2049 Senior Notes November 2019 98.769 3.189 650 (7) — (6) June 1/December 1 2047 Senior Notes (2) February 2017 99.739 4.165 500 (1) — (5) March 15/September 15 2045 Senior Notes (3) June 2015 97.999 4.497 300 (5) — (3) June 15/December 15 2045 Senior Notes (3) May 2016 110.847 3.753 150 13 — (1) June 15/December 15 2042 Senior Notes August 2012 99.567 3.724 250 (1) — (2) February 15/August 15 2037 Senior Notes (4) May 2007 98.722 6.093 300 (2) — (2) May 15/November 15 2034 Senior Notes (5) February 2024 99.689 5.040 650 (2) — (4) February 14/August 14 October 2033 Senior Notes (6) September 2003 98.645 5.846 200 (1) — (1) April 15/October 15 May 2033 Senior Notes (7) May 2023 99.897 4.663 700 (1) — (4) May 15/November 15 2031 Senior Notes (8),(9) March 2021 99.340 2.023 600 (2) (44) (3) March 15/September 15 2030 Senior Notes (9) April 2020 99.816 2.621 700 (1) (101) (3) April 15/October 15 2029 Senior Notes (10) November 2019 99.046 2.483 650 (4) — (2) June 1/December 1 2028 Senior Notes May 2023 99.897 4.398 700 (1) — (3) May 15/November 15 2027 Senior Notes (11) February 2017 99.963 3.154 500 — — (1) March 15/September 15 2024 Senior Notes November 2019 99.421 2.122 500 (1) — — June 1/December 1 (1) The Senior Notes contain certain customary covenants, including limitations on indebtedness secured by liens. (2) In November 2016, in anticipation of the issuance of the 2047 Senior Notes, the Company entered into a series of treasury lock agreements on a notional amount totaling $350 million at a weighted-average all-in rate of 3.01%. The treasury lock agreements were settled upon the issuance of the new debt, and the Company recognized a gain in OCI of $3 million that is being amortized against interest expense over the life of the 2047 Senior Notes. As a result of the treasury lock agreements, the debt discount and debt issuance costs, the effective interest rate on the 2047 Senior Notes will be 4.17% over the life of the debt. (3) In April and May 2015, in anticipation of the issuance of the 2045 Senior Notes in June 2015, the Company entered into a series of forward-starting interest rate swap agreements on a notional amount totaling $300 million at a weighted-average all-in rate of 2.38%. The forward-starting interest rate swap agreements were settled upon the issuance of the new debt and the Company recognized a gain in OCI of $18 million that will be amortized against interest expense over the life of the 2045 Senior Notes. As a result of the forward-starting interest rate swap agreements, the debt discount and debt issuance costs, the effective interest rate on the 2045 Senior Notes will be 4.216% over the life of the debt. In May 2016, the Company reopened this offering with the same terms and issued an additional $150 million for an aggregate amount outstanding of $450 million of 2045 Senior Notes. (4) In April 2007, in anticipation of the issuance of the 2037 Senior Notes, the Company entered into a series of forward-starting interest rate swap agreements on a notional amount totaling $210 million at a weighted-average all-in rate of 5.45%. The forward-starting interest rate swap agreements were settled upon the issuance of the new debt and the Company recognized a loss in OCI of $1 million that is being amortized to interest expense over the life of the 2037 Senior Notes. As a result of the forward-starting interest rate swap agreements, the debt discount and debt issuance costs, the effective interest rate on the 2037 Senior Notes will be 6.181% over the life of the debt. (5) In March 2022, in anticipation of the issuance of the 2034 Senior Notes, the Company entered into a series of treasury lock agreements on a notional amount totaling $300 million at a weighted average all-in rate of 2.02%. The treasury lock agreements were terminated in September 2022, and the Company recognized a gain in OCI of $31 million that is being amortized to interest expense over the life of the 2034 Senior Notes. As a result of the treasury lock agreements, as well as the debt discount and debt issuance costs, the effective interest rate on the 2034 Senior Notes will be 4.53% over the life of the debt. (6) In May 2003, in anticipation of the issuance of the 2033 Senior Notes, the Company entered into a series of treasury lock agreements on a notional amount totaling $195 million at a weighted-average all-in rate of 4.53%. The treasury lock agreements were settled upon the issuance of the new debt and the Company received a payment of $15 million that is being amortized against interest expense over the life of the 2033 Senior Notes. As a result of the treasury lock agreements, the debt discount and debt issuance costs, the effective interest rate on the 2033 Senior Notes will be 5.395% over the life of the debt. (7) In December 2022 and March 2023, in anticipation of the issuance of the May 2033 Senior Notes, the Company entered into a series of treasury lock agreements on a notional amount totaling $575 million at a weighted-average all-in rate of 3.57%. The treasury lock agreements were settled upon the issuance of the new debt, and the Company recognized a loss in OCI of $5 million that is being amortized to interest expense over the life of the May 2033 Senior Notes. As a result of the treasury lock agreements, as well as the debt discount and debt issuance costs, the effective interest rate on the May 2033 Senior Notes will be 4.83% over the life of the debt. (8) In March 2020, in anticipation of the issuance of the 2031 Senior Notes, the Company entered into a series of treasury lock agreements on a notional amount totaling $200 million at a weighted-average all-in rate of 0.84%. The treasury lock agreements were settled upon the issuance of the new debt, and the Company recognized a gain in OCI of $11 million that is being amortized to interest expense over the life of the 2031 Senior Notes. As a result of the treasury lock agreements, as well as the debt discount and debt issuance costs, the effective interest rate on the 2031 Senior Notes will be 1.89% over the life of the debt. (9) The Company entered into interest rate swap agreements with a notional amount totaling $700 million and $300 million to effectively convert the fixed rate interest on its outstanding 2030 Senior Notes and 2031 Senior Notes to variable interest rates based on three months fallback rate SOFR plus a margin. (10) In April and May 2019, in anticipation of the issuance of the 2029 Senior Notes, the Company entered into a series of treasury lock agreements on a notional amount totaling $500 million at a weighted-average all-in rate of 2.50%. The treasury lock agreements were settled upon the issuance of the new debt, and the Company recognized a loss in OCI of $33 million that is being amortized to interest expense over the life of the 2029 Senior Notes. As a result of the treasury lock agreements, as well as the debt discount and debt issuance costs, the effective interest rate on the 2029 Senior Notes will be 3.15% over the life of the debt. (11) In November 2016, in anticipation of the issuance of the 2027 Senior Notes, the Company entered into a series of treasury lock agreements on a notional amount totaling $450 million at a weighted-average all-in rate of 2.37%. The treasury lock agreements were settled upon the issuance of the new debt, and the Company recognized a gain in OCI of $2 million that is being amortized against interest expense over the life of the 2027 Senior Notes. As a result of the treasury lock agreements, the debt discount and debt issuance costs, the effective interest rate on the 2027 Senior Notes will be 3.18% over the life of the debt. In June 2024, the Company replaced its $2,500 million senior unsecured revolving credit facility that was set to expire in October 2026 with a new $2,500 million senior unsecured revolving credit facility (the “2024 Facility”). The 2024 Facility expires on June 7, 2029 unless extended for up to two additional years in accordance with the terms set forth in the agreement. Up to the equivalent of $750 million of the 2024 Facility is available for multi-currency loans. Interest rates on borrowings under the 2024 Facility will be based on prevailing market interest rates in accordance with the agreement. The costs incurred to establish the 2024 Facility were not material. The 2024 Facility has an annual fee of approximately $1 million, payable quarterly, based on the Company’s current credit ratings. The 2024 Facility contains a cross-default provision whereby a failure to pay other material financial obligations in excess of $175 million (after grace periods and absent a waiver from the lenders) would result in an event of default and the acceleration of the maturity of any outstanding debt under this facility. The 2024 Facility may be increased, at the election of the Company, by up to $500 million in accordance with the terms set forth in the agreement. At June 30, 2024, no borrowings were outstanding under the 2024 Facility. In February 2024, the Company completed a public offering of $650 million aggregate principal amount of its 2034 Senior Notes. The Company used the proceeds from this offering for general corporate purposes, including funding a portion of the price to purchase the remaining interest in DECIEM, operating expenses, working capital, capital expenditures and redemptions and repayment of short-term or long-term borrowings, including outstanding commercial paper as it matured. In June 2023, the Company decreased the size of its commercial paper program to $2,500 million and terminated the undrawn $2,000 million 364-Day Facility (as defined below). In May 2023, the Company completed a public offering of $2,000 million, consisting of $700 million aggregate principal amount of its 2028 Senior Notes, $700 million aggregate principal amount of its May 2033 Senior Notes and $600 million aggregate principal amount of its 2053 Senior Notes. The Company used proceeds from this offering for general corporate purposes, including to repay outstanding commercial paper as it matured. In January 2023, the Company entered into a $2,000 million senior unsecured revolving credit facility (the “364-Day Facility”) to support the Company's commercial paper program and for general corporate purposes, including to finance the Company's fiscal 2023 fourth quarter TOM FORD Acquisition. In January 2023, in connection with the 364-Day Facility, the Company increased its commercial paper program under which it may issue commercial paper in the United States from $2,500 million to $4,500 million. On August 15, 2022, the Company repaid the outstanding principal balance of its $250 million 2.35% Senior Notes with cash from operations. The Company maintains uncommitted credit facilities in various regions throughout the world. Interest rate terms for these facilities vary by region and reflect prevailing market rates for companies with strong credit ratings. During fiscal 2024 there were no amounts outstanding and in fiscal 2023, the average amount outstanding was approximately $1 million, and the annualized weighted-average interest rate incurred was approximately 5.4%. Refer to Note 17 – Commitments and Contingencies for the Company’s projected debt service payments as of June 30, 2024 and over the next five fiscal years.

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	12 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	DERIVATIVE FINANCIAL INSTRUMENTS The Company addresses certain financial exposures through a controlled program of risk management that includes the use of derivative financial instruments. The Company does not utilize derivative financial instruments for trading or speculative purposes. Costs associated with entering into derivative financial instruments have not been material to the Company’s consolidated financial results. At June 30, 2024, the notional amount of derivatives not designated as hedging instruments was $4,576 million. Fair Value Hedges The Company enters into interest rate derivative contracts to manage the exposure to interest rate fluctuations on its funded indebtedness. At June 30, 2024, the Company has interest rate swap agreements, with notional amounts totaling $700 million and $300 million to effectively convert the fixed rate interest on its 2030 Senior Notes and 2031 Senior Notes, respectively, to variable interest rates based on the three-month fallback rate SOFR plus a margin. These interest rate swap agreements are designated as fair value hedges of the related long-term debt, and the changes in the fair value of the interest rate swap agreements are exactly offset by the change in the fair value of the underlying long-term debt. The Company enters into cross-currency swap contracts to manage the exposure of foreign exchange rate fluctuations on its intercompany foreign currency denominated debt. At June 30, 2024, the Company has cross-currency swap contracts with notional amounts totaling $491 million, to hedge the impact of foreign currency changes on certain intercompany foreign currency denominated debt. The cross-currency swap contracts are designated as fair value hedges of the related intercompany debt, and the gains and losses representing hedge components included in the assessment of effectiveness are presented in the same income statement line item as the earnings effect of the hedged transaction. Gains and losses on the derivative representing hedge components excluded from the assessment of effectiveness are recognized over the life of the hedge on a systematic and rational basis. The earnings recognition of excluded components is presented in the same income statement line item as the earnings effect of the hedged transaction. Any difference between the changes in the fair value of the excluded components and amounts recognized in earnings will be recognized in AOCI. The estimated net gain on the Company’s derivative instruments designated as fair value hedges as of June 30, 2024 that is expected to be reclassified from AOCI into earnings, net of tax, within the next twelve months is $14 million. The accumulated net loss on derivative instruments designated as fair value hedges in AOCI was $7 million and $20 million as of June 30, 2024 and 2023, respectively. Cash Flow Hedges The Company enters into foreign currency forward contracts, and may enter into foreign currency option contracts, to hedge anticipated transactions and receivables and payables denominated in foreign currencies, for periods consistent with the Company’s identified exposures. The purpose of the hedging activities is to minimize the effect of foreign exchange rate movements on the cash flows that the Company receives from foreign subsidiaries. The foreign currency forward contracts entered into to hedge anticipated transactions have been designated as cash flow hedges and have varying maturities through the end of March 2026. Hedge effectiveness of the foreign currency forward contracts is based on the forward method, which includes time value in the effectiveness assessment. At June 30, 2024, the Company had cash flow hedges outstanding with a notional amount totaling $2,300 million. The Company may enter into interest rate forward contracts to hedge anticipated issuance of debt for periods consistent with the Company’s identified exposures. The purpose of the hedging activities is to minimize the effect of interest rate movements on the cost of debt issuance. For foreign currency hedge contracts that are no longer deemed highly effective, hedge accounting is discontinued and gains and losses in AOCI are reclassified to Net sales when the underlying forecasted transaction occurs. If it is probable that the forecasted transaction will no longer occur, then any gains or losses in AOCI are reclassified to current-period Net sales. As of June 30, 2024, the Company’s foreign currency cash flow hedges were highly effective. The estimated net gain on the Company’s derivative instruments designated as cash flow hedges as of June 30, 2024 that is expected to be reclassified from AOCI into earnings, net of tax, within the next twelve months is $27 million. The accumulated net gain on derivative instruments designated as cash flow hedges in AOCI was $75 million and $79 million as of June 30, 2024 and 2023, respectively. Net Investment Hedges The Company enters into foreign currency forward contracts, designated as net investment hedges, to hedge a portion of its net investment in certain foreign operations. Time value is excluded from the effectiveness assessment and is recognized under a systematic and rational method over the life of the hedging instrument in Selling, general and administrative expenses. The purpose of the hedging activities is to minimize the effect of foreign exchange rate movements on the Company’s net investment in these foreign operations. The net investment hedge contracts have varying maturities through the end of March 2025. Hedge effectiveness of the net investment hedge contracts is based on the spot method. At June 30, 2024, the Company had net investment hedges outstanding with a notional amount totaling $912 million. Credit Risk As a matter of policy, the Company enters into derivative contracts only with counterparties that have a long-term credit rating of at least A- or higher by at least two nationally recognized rating agencies. The counterparties to these contracts are major financial institutions. Exposure to credit risk in the event of nonperformance by any of the counterparties is limited to the gross fair value of contracts in asset positions, which totaled $148 million at June 30, 2024. To manage this risk, the Company has strict counterparty credit guidelines that are continually monitored. Accordingly, management believes risk of loss under these hedging contracts is remote. The fair values of the Company’s derivative financial instruments included in the consolidated balance sheets are presented as follows: Asset Derivatives Liability Derivatives Fair Value (1) Fair Value (1) June 30 June 30 (In millions) Balance Sheet 2024 2023 Balance Sheet 2024 2023 Derivatives Designated as Hedging Instruments: Foreign currency cash flow hedges (2) Prepaid expenses and other current assets; Other assets $ 34 $ 56 Other accrued liabilities $ 4 $ 16 Cross-currency swap contracts (3) Prepaid expenses and other current assets; Other assets 80 22 — — Net investment hedges Prepaid expenses and other current assets 15 — Other accrued liabilities — 13 Interest rate-related derivatives — — Other accrued liabilities 145 150 Total Derivatives Designated as Hedging Instruments 129 78 149 179 Derivatives Not Designated as Hedging Instruments: Foreign currency forward contracts Prepaid expenses and other current assets 19 20 Other accrued liabilities 17 20 Total derivatives $ 148 $ 98 $ 166 $ 199 (1) See Note 14 – Fair Value Measurements for further information about how the fair value of derivative assets and liabilities are determined. (2) Included in the asset derivatives for the foreign currency cash flow hedges at June 30, 2024 is approximately $2 million, classified within Other assets in the accompanying consolidated balance sheets. (3) Included in the asset derivatives for the cross-currency swap contracts at June 30, 2024 is approximately $70 million, classified within Other assets in the accompanying consolidated balance sheets. The amounts of the gains and losses related to the Company’s derivative financial instruments designated as hedging instruments that are included in the assessment of effectiveness are as follows: Amount of Gain (Loss) Location of Gain Amount of Gain (Loss) Reclassified from AOCI into Earnings (1) June 30 from AOCI into June 30 (In millions) 2024 2023 Earnings 2024 2023 Derivatives in Cash Flow Hedging Relationships: Foreign currency forward contracts $ 47 $ 57 Net sales $ 50 $ 71 Interest rate-related derivatives — 2 Interest expense — (1) 47 59 50 70 Derivatives in Net Investment Hedging Relationships (2) : Foreign currency forward contracts (3) 1 (35) — — Total derivatives $ 48 $ 24 $ 50 $ 70 (1) The amount reclassified into earnings as a result of the discontinuance of cash flow hedges because it is probable that forecasted transactions will not occur by the end of the original time period was not material. (2) During fiscal 2024 and 2023 the gain recognized in earnings from net investment hedges related to the amount excluded from effectiveness testing was $17 million and $26 million, respectively. (3) Included within translation adjustments as a component of AOCI on the Company’s consolidated balance sheets. Amount of Gain (Loss) Recognized in Earnings on Derivatives Location of Gain (Loss) June 30 (In millions) Recognized in Earnings on Derivatives 2024 2023 Derivatives in Fair Value Hedging Cross-currency swap contracts (1) Selling, general and administrative $ 44 $ 42 Interest rate swap contracts (2) Interest expense $ 5 $ (36) (1) Changes in the fair value representing hedge components included in the assessment of effectiveness of the cross-currency swap contracts are exactly offset by the change in the fair value of the underlying intercompany foreign currency denominated debt. The gain recognized in earnings from cross-currency swap contracts related to the amount excluded from effectiveness testing in fiscal 2024 and 2023 was $19 million and $9 million, respectively. (2) Changes in the fair value of the interest rate swap agreements are exactly offset by the change in the fair value of the underlying long-term debt. Additional information regarding the cumulative amount of fair value hedging gain (loss) recognized in earnings for items designated and qualifying as hedged items in fair value hedges is as follows: (In millions) Line Item in the Consolidated Balance Sheets in Which the Hedged Item is Included Carrying Amount of the Cumulative Amount of Fair June 30, 2024 June 30, 2024 Long-term debt $ 849 $ (145) Intercompany debt $ — $ 87 Additional information regarding the effects of fair value and cash flow hedging relationships for derivatives designated and qualifying as hedging instruments is as follows: June 30 2024 2023 (In millions) Net Sales Selling, General and Administrative Interest Expense Net Sales Selling, General and Administrative Interest Expense Total amounts of income and expense line items presented in the consolidated statements of earnings in which the effects of fair value and cash flow hedges are recorded $ 15,608 $ 9,621 $ 378 $ 15,910 $ 9,575 $ 255 The effects of fair value and cash flow hedging relationships: Gain (loss) on fair value hedge relationships – interest rate contracts: Hedged item N/A N/A (5) N/A N/A 36 Derivatives designated as hedging instruments N/A N/A 5 N/A N/A (36) Gain (loss) on fair value hedge relationships – cross-currency swap contracts: Hedged item N/A (44) N/A N/A (42) N/A Derivatives designated as hedging instruments N/A 44 N/A N/A 42 N/A Loss on cash flow hedge relationships – interest rate contracts: Amount of loss reclassified from AOCI into earnings N/A N/A — N/A N/A (1) Gain on cash flow hedge relationships – foreign currency forward contracts: Amount of gain reclassified from AOCI into earnings 50 N/A N/A 71 N/A N/A N/A (Not applicable) June 30 2022 (In millions) Net Sales Selling, General and Administrative Interest Expense Total amounts of income and expense line items presented in the consolidated statements of earnings in which the effects of fair value and cash flow hedges are recorded $ 17,737 $ 9,888 $ 167 The effects of fair value and cash flow hedging relationships: Gain (loss) on fair value hedge relationships – interest rate contracts: Hedged item N/A N/A 130 Derivatives designated as hedging instruments N/A N/A (130) Gain (loss) on fair value hedge relationships – cross-currency swap contracts: Hedged item N/A — N/A Derivatives designated as hedging instruments N/A — N/A Loss on cash flow hedge relationships – interest rate contracts: Amount of loss reclassified from AOCI into earnings N/A N/A (1) Gain on cash flow hedge relationships – foreign currency forward contracts: Amount of gain reclassified from AOCI into earnings 3 N/A N/A N/A (Not applicable) The amount of the gains and losses related to the Company’s derivative financial instruments not designated as hedging instruments are presented as follows: Amount of Gain (Loss) Location of Gain (Loss) June 30 (In millions) Recognized in Earnings on Derivatives 2024 2023 Derivatives Not Designated as Hedging Instruments: Foreign currency forward contracts Selling, general and administrative $ 62 $ (10) The Company's derivative instruments are subject to enforceable master netting agreements. These agreements permit the net settlement of these contracts on a per-institution basis; however, the Company records the fair value on a gross basis on its consolidated balance sheets based on maturity dates, including those subject to master netting arrangements. The following table provides information as if the Company had elected to offset the asset and liability balances of derivative instruments, netted in accordance with various criteria in the event of default or termination as stipulated by the terms of netting arrangements with each of the counterparties: As of June 30, 2024 As of June 30, 2023 (In millions) Gross Amounts of Assets / (Liabilities) Presented in Balance Sheet Contracts Subject to Netting Net Amounts of Assets / (Liabilities) Gross Amounts of Assets / (Liabilities) Presented in Balance Sheet Contracts Subject to Netting Net Amounts of Assets / (Liabilities) Derivative Financial Contracts Derivative assets $ 148 $ (49) $ 99 $ 98 $ (53) $ 45 Derivative liabilities (166) 49 (117) (199) 53 (146) Total $ (18) $ — $ (18) $ (101) $ — $ (101)

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS The Company records certain of its financial assets and liabilities at fair value, which is defined as the price that would be received to sell an asset or paid to transfer a liability, in the principal or most advantageous market for the asset or liability, in an orderly transaction between market participants at the measurement date. The accounting for fair value measurements must be applied to nonfinancial assets and nonfinancial liabilities that require initial measurement or remeasurement at fair value, which principally consist of assets and liabilities acquired through business combinations and goodwill, indefinite-lived intangible assets and long-lived assets for the purposes of calculating potential impairment. The Company is required to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The three levels of inputs that may be used to measure fair value are as follows: Level 1: Inputs based on quoted market prices for identical assets or liabilities in active markets at the measurement date. Level 2: Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3: Inputs reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. The inputs are unobservable in the market and significant to the instrument’s valuation. The following table presents the Company’s hierarchy for its financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2024: (In millions) Level 1 Level 2 Level 3 Total Assets: Money market funds $ 1,507 $ — $ — $ 1,507 Foreign currency forward contracts — 68 — 68 Cross-currency swap contracts — 80 — 80 Total $ 1,507 $ 148 $ — $ 1,655 Liabilities: Foreign currency forward contracts $ — $ 21 $ — $ 21 Interest rate-related derivatives — 145 — 145 Total $ — $ 166 $ — $ 166 The following table presents the Company’s hierarchy for its financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2023: (In millions) Level 1 Level 2 Level 3 Total Assets: Money market funds $ 3,241 $ — $ — $ 3,241 Foreign currency forward contracts — 76 — 76 Cross-currency swap contracts — 22 — 22 Total $ 3,241 $ 98 $ — $ 3,339 Liabilities: Foreign currency forward contracts $ — $ 49 $ — $ 49 Interest rate-related derivatives — 150 — 150 DECIEM stock options — — 99 99 Total $ — $ 199 $ 99 $ 298 The estimated fair values of the Company’s financial instruments are as follows: June 30 2024 2023 (In millions) Carrying Fair Carrying Fair Nonderivatives Cash and cash equivalents $ 3,395 $ 3,395 $ 4,029 $ 4,029 Current and long-term debt 7,771 7,174 8,114 7,665 DECIEM stock options — — 99 99 Deferred consideration payable 341 340 341 338 Derivatives Cross-currency swap contracts - asset 80 80 22 22 Foreign currency forward contracts – asset, net 47 47 27 27 Interest rate-related derivatives – liability (145) (145) (150) (150) The following methods and assumptions were used to estimate the fair value of the Company’s financial instruments for which it is practicable to estimate that value: Cash and cash equivalents – Cash and all highly-liquid securities with original maturities of three months or less are classified as cash and cash equivalents, primarily consisting of cash deposits in interest bearing accounts, time deposits and money market funds (classified within Level 1 of the valuation hierarchy). Cash deposits in interest bearing accounts and time deposits are carried at cost, which approximates fair value, due to the short maturity of cash equivalent instruments. Foreign currency forward contracts – The fair values of the Company’s foreign currency forward contracts were determined using an industry-standard valuation model, which is based on an income approach. The significant observable inputs to the model, such as swap yield curves and currency spot and forward rates, were obtained from an independent pricing service. To determine the fair value of contracts under the model, the difference between the contract price and the current forward rate was discounted using SOFR forward curves. Cross-currency swap contracts - The fair value of the Company’s cross-currency swap contracts were determined using an industry-standard valuation model, which is based on the income approach. The significant observable inputs to the model, such as yield curves and currency spot and forward rates, were obtained from independent pricing services. Interest rate-related derivatives – The fair values of the Company’s interest rate contracts were determined using an industry-standard valuation model, which is based on the income approach. The significant observable inputs to the model, such as treasury yield curves, swap yield curves and SOFR forward curves, were obtained from independent pricing services. Current and long-term debt – The fair value of the Company’s debt was estimated based on the current rates offered to the Company for debt with the same remaining maturities. To a lesser extent, debt also includes finance lease obligations for which the carrying amount approximates the fair value. The Company’s debt is classified within Level 2 of the valuation hierarchy. Deferred consideration payable – The deferred consideration payable consists primarily of deferred payments associated with the TOM FORD Acquisition. The fair value of the payments treated as deferred consideration payable are calculated based on the net present value of cash payments using an estimated borrowing rate based on quoted prices for a similar liability. The Company’s deferred consideration payable is classified within Level 2 of the valuation hierarchy. Refer to Note 5 – Asset Acquisition for additional information associated with the TOM FORD Acquisition. DECIEM stock options – The stock option liability represents the employee stock options issued by DECIEM in replacement and exchange for certain vested and unvested DECIEM employee stock options previously issued by DECIEM, in connection with the Company's acquisition of DECIEM in May 2021. In connection with the purchase of the remaining interest in DECIEM, all DECIEM stock options were exercised in the fiscal 2024 fourth quarter, resulting in the settlement of the stock option liability reducing the balance to zero as of June 30, 2024. See Note 19 – Stock Programs for discussion . Changes in the DECIEM stock option liability for the year ended June 30, 2024 are included in Selling, general and administrative expenses in the accompanying consolidated statements of earnings and were as follows: (In millions) Fair Value DECIEM stock option liability as of June 30, 2023 $ 99 Changes in fair value, net of foreign currency remeasurements 13 DECIEM stock options exercised (114) Translation adjustments and other, net 2 DECIEM stock option liability as of June 30, 2024 $ — Nonfinancial assets measured at fair value on a nonrecurring basis In connection with its interim and annual goodwill and other indefinite-lived intangible asset impairment testing, the Company has measured certain nonfinancial assets at fair value on a nonrecurring basis, classified as Level 3 of the fair value hierarchy. Refer to Note 6 – Goodwill and Other Intangible Assets for discussion of the valuation techniques used to measure fair value, the description of the inputs and information used to develop those inputs.

REVENUE RECOGNITION

REVENUE RECOGNITION	12 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
REVENUE RECOGNITION	REVENUE RECOGNITION For further information on the Company's policies relating to revenue recognition and accounts receivable see Note 2 – Summary of Significant Accounting Policies. Accounts Receivable Accounts receivable, net is stated net of the allowance for doubtful accounts, including credit losses, and customer deductions totaling $26 million and $30 million as of June 30, 2024 and June 30, 2023, respectively. Payment terms are short-term in nature and are generally less than one year. Changes in the allowance for credit losses are as follows: June 30 (In millions) 2024 2023 Allowance for credit losses, beginning of period $ 16 $ 10 Provision (adjustment) for expected credit losses (4) 6 Write-offs, net & other 2 — Allowance for credit losses, end of period $ 14 $ 16 The remaining balance of the allowance for doubtful accounts and customer deductions of $12 million and $14 million, as of June 30, 2024 and June 30, 2023, respectively, relates to non-credit losses, which are primarily due to customer deductions. Deferred Revenue Changes in deferred revenue are as follows: June 30 (In millions) 2024 2023 Deferred revenue, beginning of period $ 572 $ 362 Revenue recognized that was included in the deferred revenue balance at the beginning of the period (316) (343) Revenue deferred during the period 316 538 Other (12) 15 Deferred revenue, end of period $ 560 $ 572 The decrease in Revenue deferred during the period from fiscal 2023 to fiscal 2024 is driven by the deferral of revenue during fiscal 2023 for the Marcolin licensing arrangement relating to the acquisition of the TOM FORD brand, which consisted of a $250 million non-refundable upfront payment, classified as deferred revenue within Other accrued liabilities and Other noncurrent liabilities in the accompanying consolidated balance sheets. Transaction Price Allocated to the Remaining Performance Obligations At June 30, 2024, the combined estimated revenue expected to be recognized in the next twelve months related to performance obligations for customer loyalty programs, gift with purchase promotions, purchase with purchase promotions, gift card liabilities, and the Marcolin license arrangement related to TOM FORD that are unsatisfied (or partially unsatisfied) is $327 million. The remaining balance of deferred revenue at June 30, 2024 will be recognized beyond the next twelve months, of which, $223 million relates to the non-refundable upfront payment received as part of the Marcolin licensing arrangement that is being recognized on a straight-line basis over the estimated economic life of the license, which is 20 years. Royalty Revenue - License Arrangements As of June 30, 2024, the remaining contractually guaranteed minimum royalty amounts due to the Company during future periods are as follows: (In millions) Minimum Remaining Royalties Fiscal 2025 $ 28 Fiscal 2026 $ 29 Fiscal 2027 $ 30 Fiscal 2028 $ 32 Fiscal 2029 $ 33 Thereafter $ 160 The royalty revenue associated with the TOM FORD Acquisition is included within the The Americas region and within the other product category.

PENSION, DEFERRED COMPENSATION

PENSION, DEFERRED COMPENSATION AND POST-RETIREMENT BENEFIT PLANS	12 Months Ended
	Jun. 30, 2024
Retirement Benefits [Abstract]
PENSION, DEFERRED COMPENSATION AND POST-RETIREMENT BENEFIT PLANS	PENSION, DEFERRED COMPENSATION AND POST-RETIREMENT BENEFIT PLANS The Company maintains pension plans covering substantially all of its full-time employees for its U.S. operations and a majority of its international operations. Several plans provide pension benefits based primarily on years of service and employees’ earnings. In certain instances, the Company adjusts benefits in connection with international employee transfers. Retirement Growth Account Plan (U.S.) The Retirement Growth Account Plan is a trust-based, noncontributory qualified defined benefit pension plan. The Company seeks to maintain appropriate funded percentages. For contributions, the Company would seek to contribute an amount or amounts that would not be less than the minimum required by the Employee Retirement Income Security Act of 1974 (“ERISA”), as amended, and subsequent pension legislation, and would not be more than the maximum amount deductible for income tax purposes. Restoration Plan (U.S.) The Company also has an unfunded, non-qualified domestic noncontributory pension Restoration Plan to provide benefits in excess of Internal Revenue Code limitations. International Pension Plans The Company maintains international pension plans, the most significant of which are defined benefit pension plans. The Company’s funding policies for these plans are determined by local laws and regulations. The Company’s most significant defined benefit pension obligations are included in the plan summaries below. Post-retirement Benefit Plans The Company maintains a domestic post-retirement benefit plan which provides certain medical and dental benefits to eligible employees. Employees hired after January 1, 2002 are not eligible for retiree medical benefits when they retire. Certain retired employees who are receiving monthly pension benefits are eligible for participation in the plan. Contributions required and benefits received by retirees and eligible family members are dependent on the age of the retiree. It is the Company’s practice to fund a portion of these benefits as incurred and may provide discretionary funding for future liabilities up to the maximum amount deductible for income tax purposes. Certain of the Company’s international subsidiaries and affiliates have post-retirement plans, although most participants are covered by government-sponsored or administered programs. Plan Summaries The components of the above-mentioned plans as of and for the years ended June 30 are summarized as follows: Pension Plans Other than U.S. International Post-retirement (In millions) 2024 2023 2024 2023 2024 2023 Change in benefit obligation: Benefit obligation at beginning of year $ 912 $ 922 $ 522 $ 562 $ 176 $ 177 Service cost 35 37 26 27 2 1 Interest cost 46 40 19 15 8 8 Plan participant contributions — — 8 8 1 1 Actuarial loss (gain) (3) (30) (1) (51) (6) 4 Foreign currency exchange rate impact — — — (3) — (3) Benefits, expenses, taxes and premiums paid (49) (57) (32) (32) (12) (12) Plan amendments — — — — (25) — Settlements — — (2) (4) — — Special termination benefits — — 1 — — — Benefit obligation at end of year $ 941 $ 912 $ 541 $ 522 $ 144 $ 176 Change in plan assets: Fair value of plan assets at beginning of year $ 753 $ 838 $ 541 $ 579 $ 2 $ 14 Actual return on plan assets 14 (42) 29 (38) — (1) Foreign currency exchange rate impact — — (1) (7) — — Employer contributions 83 14 24 35 9 — Plan participant contributions — — 8 8 1 1 Settlements — — (2) (4) — — Benefits, expenses, taxes and premiums paid from plan assets (49) (57) (32) (32) (12) (12) Fair value of plan assets at end of year $ 801 $ 753 $ 567 $ 541 $ — $ 2 Funded status $ (140) $ (159) $ 26 $ 19 $ (144) $ (174) Amounts recognized in the Balance Sheet consist of: Other assets $ — $ — $ 125 $ 115 $ — $ — Other accrued liabilities (27) (21) (4) (4) (13) (9) Other noncurrent liabilities (113) (138) (95) (92) (131) (165) Funded status (140) (159) 26 19 (144) (174) Accumulated other comprehensive loss (income) 269 237 (5) (9) (21) 7 Net amount recognized $ 129 $ 78 $ 21 $ 10 $ (165) $ (167) For fiscal 2023, the $30 million actuarial gain relating to the U.S. pension plans was primarily due to the increase in the weighted average discount rate relating to the Retirement Growth Account Plan and the Restoration Plan from 4.5% to 5.3% and 4.3% to 5.2%, respectively. For fiscal 2023, the $51 million actuarial gain relating to the International pension plans was primarily due to the increase in the weighted average discount rate from 2.8% to 3.7%. Pension Plans Other than U.S. International Post-retirement ($ in millions) 2024 2023 2022 2024 2023 2022 2024 2023 2022 Components of net periodic benefit cost: Service cost $ 35 $ 37 $ 46 $ 26 $ 27 $ 31 $ 2 $ 1 $ 2 Interest cost 46 40 31 19 15 10 8 8 6 Expected return on assets (54) (57) (55) (25) (17) (13) (1) (1) (1) Amortization of: Actuarial loss (gain) 4 3 15 (8) (3) 2 — — 1 Prior service cost 1 — — (1) (1) (1) (3) — — Settlements — — — — 1 — — — — Special termination benefits — — — 1 — 4 — — — Net periodic benefit cost $ 32 $ 23 $ 37 $ 12 $ 22 $ 33 $ 6 $ 8 $ 8 Assumptions used to determine benefit obligations at June 30: Discount rate 5.50 – 5.70% 5.20 – 5.30% 4.30 – 4.50% 1.75 – 10.00% 1.00 – 9.00% 0.75 – 9.00% 5.00 – 11.00% 5.00 – 10.75% 4.50 – 9.75% Rate of compensation increase 2.50 – 8.00% 2.50 – 8.00% 2.50 – 8.00% 1.50 – 5.00% 1.75 – 5.00% 1.50– 5.00% N/A N/A N/A Weighted-average assumptions used to determine benefit obligations at June 30: Discount rate 5.68 % 5.29 % 4.48 % 3.50 % 3.69 % 2.77 % 5.51 % 5.19 % 4.68 % Rate of compensation increase 2.50 – 8.00% 2.50 – 8.00% 2.50 – 8.00% 3.00 % 3.08 % 3.08 % N/A N/A N/A Assumptions used to determine net periodic benefit cost for the year ended June 30: Discount rate 5.20 – 5.30% 4.30 – 4.50% 2.50 – 3.00% 1.00 – 9.00% .75– 9.00% .50 – 7.25% 5.00 – 10.75% 4.50 – 9.75% 2.70 – 9.00% Expected return on assets 6.25 % 6.25 % 6.25 % 2.25 – 9.00% 1.25 – 9.00% 1.25 – 7.25% 6.25 % 6.25 % 6.25 % Rate of compensation increase 2.50 – 8.00% 2.50 – 8.00% 2.50– 8.00% 1.75 – 5.00% — – 5.00% — – 5.00% N/A N/A N/A Weighted-average assumptions used to determine net periodic benefit cost for the year ended June 30: Discount rate 5.29 % 4.48 % 2.94 % 3.69 % 2.77 % 1.59 % 5.19 % 4.68 % 2.92 % Expected return on assets (1) 6.25 % 6.25 % 6.25 % 4.06 % 2.95 % 2.19 % 6.25 % 6.25 % 6.25 % Rate of compensation increase 2.50 – 8.00% 2.50 – 8.00% 2.50 – 8.00% 3.08 % 2.96 % 2.81 % N/A N/A N/A (1) The U.S. post-retirement benefit plan is the only post-retirement benefit plan with plan assets during fiscal 2024 and as such, the rates reflected here are the expected return on plan assets for the U.S. post-retirement plan. The discount rate for each plan used for determining future net periodic benefit cost is based on a review of highly rated long-term bonds. The discount rate for the Company’s Domestic Plans is based on a bond portfolio that includes only long-term bonds with an Aa rating, or equivalent, from a major rating agency. The Company used an above-mean yield curve which represents an estimate of the effective settlement rate of the obligation, and the timing and amount of cash flows related to the bonds included in this portfolio are expected to match the estimated defined benefit payment streams of the Company’s Domestic Plans. For the Company’s international plans, the discount rate in a particular country was principally determined based on a yield curve constructed from high quality corporate bonds in each country, with the resulting portfolio having a duration matching that particular plan. In determining the long-term rate of return for a plan, the Company considers the historical rates of return, the nature of the plan’s investments and an expectation for the plan’s investment strategies. The weighted-average interest crediting rate used to determine the benefit obligation and net periodic benefit cost relating to the Company’s U.S. Pension Plans was 5.20% and 4.00% as of and for the years ended June 30, 2024 and 2023, respectively. Assumed health care cost trend rates have a significant effect on the amounts reported for the health care plans. The assumed weighted-average health care cost trend rate for the coming year is 5.40% while the weighted-average ultimate trend rate of 4.02% is expected to be reached in approximately 16 years to 22 years. Amounts recognized in AOCI (before tax) as of June 30, 2024 are as follows: Pension Plans Other than (In millions) U.S. International Post-retirement Total Net actuarial losses (gains), beginning of year $ 235 $ (7) $ 7 $ 235 Actuarial losses (gains) recognized 37 (4) (6) 27 Amortization and settlements included in net periodic benefit cost (4) 8 — 4 Translation adjustments — (1) — (1) Net actuarial losses (gains), end of year 268 (4) 1 265 Net prior service cost, beginning of year 2 (2) — — Amortization included in net periodic benefit cost (1) 1 3 3 Prior service cost recognized — — (25) (25) Net prior service cost, end of year 1 (1) (22) (22) Total amounts recognized in AOCI $ 269 $ (5) $ (21) $ 243 The projected benefit obligation, accumulated benefit obligation and fair value of plan assets for the Company’s pension plans at June 30 are as follows: Pension Plans Other than Pension Plans Retirement Growth Restoration International Post-retirement (In millions) 2024 2023 2024 2023 2024 2023 2024 2023 Projected benefit obligation $ 825 $ 807 $ 116 $ 105 $ 541 $ 522 $ 144 $ 176 Accumulated benefit obligation $ 800 $ 774 $ 108 $ 95 $ 484 $ 467 $ — $ — Fair value of plan assets $ 801 $ 753 $ — $ — $ 567 $ 541 $ — $ 2 International pension plans with projected benefit obligations in excess of the plans’ assets had aggregate projected benefit obligations of $102 million and $275 million and aggregate fair value of plan assets of $3 million and $179 million at June 30, 2024 and 2023, respectively. International pension plans with accumulated benefit obligations in excess of the plans’ assets had aggregate accumulated benefit obligations of $89 million and $84 million and aggregate fair value of plan assets of $3 million and $3 million at June 30, 2024 and 2023, respectively. The expected cash flows for the Company’s pension and post-retirement plans are as follows: Pension Plans Other than (In millions) U.S. International Post-retirement Expected employer contributions for year ending June 30, 2025 $ 65 $ 29 $ 13 Expected benefit payments for year ending June 30, 2025 89 40 13 2026 63 34 10 2027 62 33 10 2028 63 32 11 2029 65 33 11 Years 2030 – 2034 334 169 53 Plan Assets The Company’s investment strategy for its pension plan assets is to maintain a diversified portfolio of asset classes with the primary goal of meeting long-term cash requirements as they become due. Assets are primarily invested in diversified funds that hold equity or debt securities to maintain the security of the funds while maximizing the returns within each plan’s investment policy. The investment policy for each plan specifies the type of investment vehicles appropriate for the plan, asset allocation guidelines, criteria for selection of investment managers and procedures to monitor overall investment performance, as well as investment manager performance. The Company’s target asset allocation at June 30, 2024 is as follows: Pension Plans U.S. International Equity 39 % 20 % Debt securities 50 % 58 % Other 11 % 22 % 100 % 100 % The following is a description of the valuation methodologies used for plan assets measured at fair value: Cash and Cash Equivalents – Cash and all highly-liquid securities with original maturities of three months or less are classified as cash and cash equivalents, primarily consisting of cash deposits in interest bearing accounts, time deposits and money market funds. These assets are classified within Level 1 of the valuation hierarchy. Short-term investment funds – The fair values are determined using the Net Asset Value (“NAV”) provided by the administrator of the fund when the Company has the ability to redeem the assets at the measurement date. These assets are classified within Level 2 of the valuation hierarchy. For some assets the Company is utilizing the NAV as a practical expedient and those investments are not included in the valuation hierarchy. Government and agency securities – The fair values are determined using third-party pricing services using market prices or prices derived from observable market inputs such as benchmark curves, broker/dealer quotes, and other industry and economic factors. These investments are classified within Level 1 of the valuation hierarchy as of June 30, 2024 and within Level 2 as of June 30, 2023. This change in classification is due to the ability to use unadjusted daily quoted market prices for all of the underlying assets in this category. Commingled funds – The fair values of publicly traded funds are based upon market quotes and are classified within Level 1 of the valuation hierarchy. The fair values for non-publicly traded funds are determined using the NAV provided by the administrator of the fund when the Company has the ability to redeem the assets at the measurement date. These assets are classified within Level 2 of the valuation hierarchy. When the Company is utilizing the NAV as a practical expedient those investments are not included in the valuation hierarchy. These investments have monthly redemption frequencies with redemption notice periods ranging from 10 to 30 days. There are no unfunded commitments related to these investments. Insurance contracts – The fair values are based on negotiated value and the underlying investments held in separate account portfolios, as well as the consideration of the creditworthiness of the issuer. The underlying investments are primarily government, asset-backed and fixed income securities. Insurance contracts are generally classified as Level 3 as there are no quoted prices or other observable inputs for pricing. Interests in limited partnerships and hedge fund investments – The fair values are determined using the NAV provided by the administrator as a practical expedient, and therefore these investments are not included in the valuation hierarchy. These investments have monthly and quarterly redemption frequencies with redemption notice periods ranging from 30 to 90 days. Unfunded commitments related to these investments are de minimis. The following table presents the fair values of the Company’s pension and post-retirement plan assets by asset category as of June 30, 2024: (In millions) Level 1 Level 2 Level 3 Assets Total Cash and cash equivalents $ 2 $ — $ — $ — $ 2 Short-term investment funds — 28 — 3 31 Government and agency securities 137 — — — 137 Commingled funds 301 642 — 148 1,091 Insurance contracts — — 14 — 14 Interests in limited partnerships and hedge fund investments — — — 93 93 Total $ 440 $ 670 $ 14 $ 244 $ 1,368 The following table presents the fair values of the Company’s pension and post-retirement plan assets by asset category as of June 30, 2023: (In millions) Level 1 Level 2 Level 3 Assets Total Cash and cash equivalents $ 2 $ — $ — $ — $ 2 Short-term investment funds — 12 — 3 15 Government and agency securities — 139 — — 139 Commingled funds 332 547 — 143 1,022 Insurance contracts — — 8 — 8 Interests in limited partnerships and hedge fund investments — — — 110 110 Total $ 334 $ 698 $ 8 $ 256 $ 1,296 The following table presents the changes in Level 3 plan assets: June 30 (In millions) 2024 2023 Insurance Contracts Balance at beginning of year $ 8 $ 46 Actual return on plan assets: Relating to assets still held at the reporting date 1 (2) Purchases, sales, issuances and settlements, net 5 (35) Foreign exchange impact — (1) Balance at end of year $ 14 $ 8 401(k) Savings Plan (U.S.) The Company’s 401(k) Savings Plan (“Savings Plan”) is a contributory defined contribution plan covering substantially all regular full-time U.S. employees who have completed the hours and service requirements, as defined by the plan document. Regular full-time employees are eligible to participate in the Savings Plan thirty days following their date of hire. The Savings Plan is subject to the applicable provisions of ERISA. The Company matches a portion of the participant’s contributions after one year of service under a predetermined formula based on the participant’s contribution level. The Company’s contributions were $51 million, $50 million and $47 million for fiscal 2024, 2023 and 2022, respectively. Shares of the Company’s Class A Common Stock are not an investment option in the Savings Plan and the Company does not use such shares to match participants’ contributions. Deferred Compensation The Company has agreements with certain employees and outside directors who defer compensation. The Company accrues for such compensation, and either interest thereon or for the change in the value of cash units. The amounts included in the accompanying consolidated balance sheets under these plans were $44 million and $58 million as of June 30, 2024 and 2023, respectively. The benefit for fiscal 2024, 2023 and 2022 was $14 million, $7 million and $33 million, respectively.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Contractual Obligations The following table summarizes scheduled maturities of the Company’s contractual obligations for which cash flows are fixed and determinable as of June 30, 2024: Payments Due in Fiscal (In millions) Total 2025 2026 2027 2028 2029 Thereafter Debt service (1) $ 11,845 $ 794 $ 288 $ 788 $ 973 $ 242 $ 8,760 Unconditional purchase obligations (2) 2,370 1,463 373 317 98 21 98 Gross unrecognized tax benefits and interest – current (3) 2 2 — — — — — Transition Tax payable (4) 146 65 81 — — — — Total contractual obligations (5) $ 14,363 $ 2,324 $ 742 $ 1,105 $ 1,071 $ 263 $ 8,858 (1) Includes long-term and current debt and the related projected interest costs. Refer to Note 7 – Leases for information regarding future minimum lease payments relating to the Company’s finance leases. Interest costs on long-term and current debt in fiscal 2025, 2026, 2027, 2028, 2029 and thereafter are projected to be $293 million, $288 million, $288 million, $273 million, $242 million and $2,509 million, respectively. Projected interest costs on variable rate instruments were calculated using market rates at June 30, 2024. (2) Unconditional purchase obligations primarily include: inventory commitments, information technology contract commitments, deferred consideration, advertising commitments and royalty payments pursuant to license agreements. Future royalty and advertising commitments were estimated based on planned future sales for the term that was in effect at June 30, 2024, without consideration for potential renewal periods. (3) Refer to Note 9 – Income Taxes for information regarding unrecognized tax benefits. As of June 30, 2024, the noncurrent portion of the Company’s unrecognized tax benefits, including related accrued interest and penalties, was $80 million. At this time, the settlement period for the noncurrent portion of the unrecognized tax benefits, including related accrued interest and penalties, cannot be determined and therefore was not included. (4) The Transition Tax may be paid over an eight-year period and this amount represents the remaining liability as of June 30, 2024. (5) Refer to Note 7 – Leases for information regarding future minimum lease payments relating to the Company’s operating leases. Legal Proceedings The Company is involved, from time to time, in litigation and other legal proceedings incidental to its business, including product liability matters (including asbestos-related claims), advertising, regulatory, employment, intellectual property, real estate, environmental, trade relations, securities, tax, and privacy. Management believes that the outcome of current litigation and legal proceedings will not have a material adverse effect upon the Company’s business, results of operations, financial condition or cash flows. However, management’s assessment of the Company’s current litigation and other legal proceedings could change in light of the discovery of facts with respect to legal actions or other proceedings pending against the Company not presently known to the Company or determinations by judges, juries or other finders of fact which are not in accord with management’s evaluation of the possible liability or outcome of such litigation or proceedings. Reasonably possible losses in addition to the amounts accrued for such litigation and legal proceedings above, as well as the Securities Class Action and Derivative Matters referred to below, are not material to the Company’s consolidated financial statements. Securities Class Action and Derivative Matters On December 7, 2023 and January 22, 2024, the Company and its Chief Executive Officer and Chief Financial Officer were named as defendants in separate purported securities class action complaints filed in the United States District Court for the Southern District of New York. On February 20, 2024, those two purported securities class actions were consolidated into one action. On March 22, 2024, plaintiffs filed their consolidated amended class action complaint, which alleges that defendants made materially false and misleading statements during the period February 3, 2022 to October 31, 2023 in press releases, the Company’s public filings and during conference calls with analysts that artificially inflated the price of the Company’s stock in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. Defendants intend to defend the action vigorously. On February 1, 2024 and March 15, 2024, shareholder derivative action complaints were filed against certain of the Company’s officers, all the Company’s directors as of those dates and certain of the Company’s former directors as of those dates in the United States District Court for the Southern District of New York. In April 2024, both complaints were voluntarily dismissed without prejudice; and, subsequently, one of the former derivative plaintiffs made a litigation demand, requesting, among other things, that the Company's Board of Directors investigate potential claims on behalf of the Company based on the same alleged course of conduct identified in the securities case complaint (which were also reflected in the dismissed shareholder derivative actions complaints) described above. In June 2024, the other former derivative plaintiff made a books and records demand on the Company related to any documents relevant to the same alleged course of conduct referenced above. Cosmetic Talcum Powder Matters The Company has been named as a defendant in civil actions alleging that certain cosmetic talcum powder products sold by the Company were contaminated with asbestos. Most of these actions involve a number of co-defendants from a variety of different industries. As of June 30, 2024, there were 273 individual cases pending against the Company in state and federal courts throughout the United States, as compared to 185 cases as of June 30, 2023. During the year ended June 30, 2024, 200 new cases were filed and 112 cases were resolved by voluntary dismissal, dismissal by the court, or settlement. The value of settlements, either individually or in the aggregate, in fiscal 2024, 2023, and 2022 was not material. The Company believes that a portion of its costs incurred in defending and resolving these claims may be covered by insurance policies issued by several insurance carriers, subject to deductibles, exclusions, retentions and policy limits. While the Company and its legal counsel intend to continue to defend these cases vigorously, there can be no assurances regarding the ultimate resolution of these matters. The amounts accrued for such litigation are not material to the Company's consolidated financial statements. The range of reasonably possible losses in excess of accrued liabilities currently cannot be reasonably estimated.

COMMON STOCK

COMMON STOCK	12 Months Ended
	Jun. 30, 2024
Equity [Abstract]
COMMON STOCK	COMMON STOCK As of June 30, 2024, the Company’s authorized common stock consists of 1,300 million shares of Class A Common Stock, par value $.01 per share, and 304 million shares of Class B Common Stock, par value $.01 per share. Class B Common Stock is convertible into Class A Common Stock, in whole or in part, at any time and from time to time at the option of the holder, on the basis of one share of Class A Common Stock for each share of Class B Common Stock converted. Holders of the Company’s Class A Common Stock are entitled to one vote per share and holders of the Company’s Class B Common Stock are entitled to ten votes per share. Information about the Company’s common stock outstanding is as follows: (Shares in thousands) Class A Class B Balance at June 30, 2021 233,517.4 128,242.0 Acquisition of treasury stock (1) (7,393.6) — Conversion of Class B to Class A 2,700.0 (2,700.0) Stock-based compensation 2,689.7 — Balance at June 30, 2022 231,513.5 125,542.0 Acquisition of treasury stock (1) (1,220.7) — Stock-based compensation 1,785.1 — Balance at June 30, 2023 232,077.9 125,542.0 Acquisition of treasury stock (1) (316.5) — Stock-based compensation 1,385.2 — Balance at June 30, 2024 233,146.6 125,542.0 (1) In fiscal 2022 and 2023, these amounts represent shares repurchased under our authorized share repurchase program, as well as shares repurchased to satisfy tax withholding obligations upon the payout of certain stock-based compensation arrangements. In fiscal 2024, these amounts represent shares that were repurchased by the Company to satisfy tax withholding obligations upon the payout of certain stock-based compensation arrangements. The Company is authorized by the Board of Directors to repurchase Class A Common Stock in the open market or in privately negotiated transactions, depending on market conditions and other factors. As of June 30, 2024, the remaining authorized share repurchase balance was 25.1 million shares. Beginning in December 2022, the Company suspended the repurchase of shares of our Class A Common Stock. The Company may resume repurchases in the future. The following is a summary of cash dividends declared per share on the Company’s Class A and Class B Common Stock during the year ended June 30, 2024: Date Declared Record Date Payable Date Amount per Share August 17, 2023 August 31, 2023 September 15, 2023 $ .66 October 31, 2023 November 30, 2023 December 15, 2023 $ .66 February 2, 2024 February 29, 2024 March 15, 2024 $ .66 April 30, 2024 May 31, 2024 June 17, 2024 $ .66 On August 16, 2024, a dividend was declared in the amount of $.66 per share on the Company's Class A and Class B Common Stock. The dividend is payable in cash on September 16, 2024 to stockholders of record at the close of business on August 30, 2024.

STOCK PROGRAMS

STOCK PROGRAMS	12 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
STOCK PROGRAMS	STOCK PROGRAMS As of June 30, 2024, the Company has two active equity compensation plans which include the Amended and Restated Fiscal 2002 Share Incentive Plan (the “Fiscal 2002 Plan”) and the Amended and Restated Non-Employee Director Share Incentive Plan (collectively, the “Plans”). These Plans currently provide for the issuance of approximately 88.8 million shares of Class A Common Stock, which consist of shares originally provided for and shares transferred to the Fiscal 2002 Plan from other inactive plans and employment agreements, to be granted in the form of stock-based awards to key employees and non-employee directors of the Company. As of June 30, 2024, approximately 7.1 million shares of Class A Common Stock were reserved and available to be granted pursuant to these Plans. The Company may satisfy the obligation of its stock-based compensation awards with either new or treasury shares. The Company’s equity compensation awards include stock options, restricted stock units (“RSUs”), performance share units (“PSUs”), long-term PSUs, including long-term price-vested units (“PVUs”), and share units. Total net stock-based compensation expense is attributable to the granting of and the remaining requisite service periods of stock options, RSUs, PSUs, long-term PSUs and share units. Compensation expense attributable to net stock-based compensation is as follows: Year Ended June 30 (In millions) 2024 2023 2022 Compensation expense (1) $ 325 $ 267 $ 331 Income tax benefit $ 58 $ 52 $ 51 (1) Excludes compensation expense relating to liability-classified awards, including DECIEM stock options discussed below. As of June 30, 2024, the total unrecognized compensation cost related to unvested stock-based awards was $208 million and the related weighted-average period over which it is expected to be recognized is approximately one year. Stock Options The following is a summary of the status of the Company’s stock options as of June 30, 2024 and activity during the fiscal year then ended: (Shares in thousands) Shares Weighted- Aggregate Intrinsic Value (1) (in millions) Weighted-Average Outstanding at June 30, 2023 7,497.1 $ 184.41 Granted at fair value 1,780.6 155.92 Exercised (480.7) 81.57 Expired (161.3) 240.00 Forfeited (140.0) 199.73 Outstanding at June 30, 2024 8,495.7 182.95 $ 32 6.0 Vested and expected to vest at June 30, 2024 8,415.7 182.95 $ 32 6.0 Exercisable at June 30, 2024 5,842.7 175.76 $ 32 5.0 (1) The intrinsic value of a stock option is the amount by which the market value of the underlying stock exceeds the exercise price of the option. The exercise period for all stock options generally may not exceed ten years from the date of grant. Stock option grants to individuals generally become exercisable in three substantively equal tranches over a service period of up to four years. The Company attributes the value of option awards on a straight-line basis over the requisite service period for each separately vesting portion of the award as if the award was, in substance, multiple awards. The following is a summary of the per-share weighted-average grant date fair value of stock options granted and total intrinsic value of stock options exercised: Year Ended June 30 (In millions, except per share data) 2024 2023 2022 Per-share weighted-average grant date fair value of stock options granted $ 52.83 $ 79.09 $ 85.56 Intrinsic value of stock options exercised $ 31 $ 93 $ 276 The fair value of each of the Company's option grants were estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions: Year Ended June 30 2024 2023 2022 Weighted-average expected stock-price volatility 33.8% 30.8% 27.3% Weighted-average expected option life 6 years 6 years 6 years Average risk-free interest rate 4.3% 3.4% 0.9% Average dividend yield 1.5% 0.8% 0.7% The Company uses a weighted-average expected stock-price volatility assumption that is a combination of both current and historical implied volatilities of the underlying stock. The implied volatilities were obtained from publicly available data sources. For the weighted-average expected option life assumption, the Company considers the exercise behavior for past grants and models the pattern of aggregate exercises. The average risk-free interest rate is based on the U.S. Treasury strip rate for the expected term of the options and the average dividend yield is based on historical experience. Restricted Stock Units The Company granted RSUs in respect of approximately 1.6 million shares of Class A Common Stock during fiscal 2024 with a weighted-average grant date fair value per share of $155.82 that, at the time of grant, are scheduled to vest as follows: 0.6 million in fiscal 2025, 0.6 million in fiscal 2026 and 0.4 million in fiscal 2027. Vesting of RSUs granted is generally subject to the continued employment or the retirement of the grantees. The RSUs are generally accompanied by dividend equivalent rights, payable upon settlement of the RSUs either in cash or shares (based on the terms of the particular award) and, as such, were generally valued at the closing market price of the Company’s Class A Common Stock on the date of grant. The following is a summary of the status of the Company’s RSUs as of June 30, 2024 and activity during the fiscal year then ended: (Shares in thousands) Shares Weighted-Average Nonvested at June 30, 2023 1,789.9 $ 265.04 Granted 1,606.1 155.82 Dividend equivalents 45.0 200.19 Vested (1) (849.7) 262.76 Forfeited (148.8) 201.52 Nonvested at June 30, 2024 2,442.5 196.69 1) The total fair value of RSUs vested during fiscal 2024, 2023 and 2022 was $91.6 million, $155.5 million, and $307.4 million, respectively. Performance Share Units During fiscal 2024, the Company granted PSUs with a target payout of approximately 0.2 million shares of Class A Common Stock with a weighted-average grant date fair value per share of $156.39, which will be settled in stock subject to the achievement of the Company’s net sales, diluted net earnings per common share and return on invested capital goals for the three In August 2023, less than 0.1 million shares of the Company’s Class A Common Stock were issued, and related accrued dividends were paid, relative to the target goals set at the time of the issuance, in settlement of 0.2 million PSUs with a performance period ended June 30, 2023. The following is a summary of the status of the Company’s PSUs as of June 30, 2024 and activity during the fiscal year then ended: (Shares in thousands) Shares Weighted-Average Nonvested at June 30, 2023 365.2 $ 260.90 Granted 164.5 156.39 Vested and issued (1) (44.8) 218.12 Forfeited (111.0) 217.85 Nonvested at June 30, 2024 373.9 232.83 (1) The total fair value of PSUs vested and issued during fiscal 2024, 2023 and 2022 was $7.3 million, $66.6 million, and $108.9 million, respectively. Long-term Performance Share Units During September 2015, the Company granted PSUs to the Company's Chief Executive Officer (“CEO”) with an aggregate target payout of 387,848 shares (in three tranches of approximately 129,283 each) of the Company’s Class A Common Stock, generally subject to continued employment through the end of relative performance periods, which ended June 30, 2018, 2019, and 2020. Since the Company achieved positive Net Earnings, as defined in the PSU award agreement, for the fiscal year ended June 30, 2016, performance and vesting of each tranche was based on the Company achieving positive Cumulative Operating Income, as defined in the PSU award agreement, during the relative performance period. Payment with respect to a tranche was made on the third anniversary of the last day of the respective performance period. The PSUs are accompanied by dividend equivalent rights that was payable in cash at the same time as the payment of shares of Class A Common Stock. The grant date fair value of these PSUs of $30 million was estimated using the closing stock price of the Company’s Class A Common Stock as of September 4, 2015, the date of grant. As of June 30, 2023, all 387,848 shares of the Company’s Class A Common Stock were issued, and the related dividends paid, in accordance with the terms of the grant, related to the performance periods ended June 30, 2018, 2019, and 2020. In February 2018, the Company granted to the Company's CEO PSUs with an aggregate payout of 195,940 shares (in two tranches of 97,970 shares each) of the Company’s Class A Common Stock, generally subject to continued employment through the end of the respective performance periods ending June 30, 2021 and 2022. No portion of the award will generally vest unless the Company has achieved positive Cumulative Operating Income, as defined in the performance share unit award agreement, during the relevant performance period. Settlement, if any, with respect to both tranches will be made on September 3, 2024. The PSUs are accompanied by dividend equivalent rights that will be payable in cash at the same time as any payment of shares of Class A Common Stock. The grant date fair value of these PSUs of $27 million was estimated using the closing stock price of the Company’s Class A Common Stock as of the date of grant. Since the Company achieved positive Cumulative Operating Income, as defined in the PSU award agreement, and since the executive completed the requisite service, 195,940 shares of the Company’s Class A Common Stock are anticipated to be issued, and the related dividends to be paid, in accordance with the terms of the grant on September 3, 2024. In March 2021, the Company granted to the Company’s CEO PSUs with an aggregate payout of 68,578 shares of the Company's Class A Common Stock, to incentivize him to continue serving through at least June 30, 2024. Generally, no portion of this award will vest unless the Company has achieved positive Cumulative Operating Income, as defined in the performance share unit award agreement, during the relevant performance period, and delivery of shares of the Company’s Class A Common Stock, if any, will be made on September 2, 2025. The PSUs are accompanied by dividend equivalent rights that will be payable in cash at the same time as any delivery of shares of the Company's Class A Common Stock. The aggregate grant date fair value of the PSUs of approximately $20 million was estimated using the closing stock price of the Company's Class A Common Stock on the date of grant. Long-term Price-Vested Units In March 2021, the Company granted to the Company’s CEO PVUs with an aggregate payout of 85,927 shares, divided into three tranches, of the Company's Class A Common Stock, to incentivize him to continue serving through at least June 30, 2024. Generally, no portion of this award will vest unless the Company has achieved positive Cumulative Operating Income, as defined in the price-vested unit award agreement, during the relevant performance period. In addition, the vesting of each tranche is contingent upon the Company’s achievement of the respective stock price goal, which means that the average closing price per share of the Company’s Class A Common Stock traded on the New York Stock Exchange be at or above the applicable stock price goal (noted in the table below) for 20 consecutive trading days during the applicable performance period. The number of shares subject to each tranche of the price-vested unit award, as well as the stock price goals, service periods, performance periods and share delivery dates for each tranche are as follows: Number Stock Price Goal Service Period Performance Period for Stock Price Goal Performance Period for Cumulative Operating Income Goal Share Delivery Date First tranche 27,457 $ 323.03 March 11, 2021 - June 30, 2024 March 11, 2021 - June 30, 2024 July 1, 2021 - June 30, 2025 September 2, 2025 Second tranche 28,598 $ 333.21 March 11, 2021 - June 30, 2024 March 11, 2021 - June 30, 2024 July 1, 2021 - June 30, 2025 September 2, 2025 Third tranche 29,872 $ 343.61 March 11, 2021 - June 30, 2024 March 11, 2021 - June 30, 2024 July 1, 2021 - June 30, 2025 September 2, 2025 Total shares 85,927 The Stock Price Goals (per Share) were all achieved during fiscal 2022 but delivery of the shares are still subject to achievement of the Cumulative Operating Income goal and other terms and conditions in accordance with the terms of the award agreement . Generally, delivery of shares of the Company’s Class A Common Stock, if any, will be made on September 2, 2025. The PVUs are accompanied by dividend equivalent rights that will be payable in cash at the same time as any delivery of shares of the Company's Class A Common Stock. The aggregate grant date fair value of the PVUs of approximately $20 million was estimated using the Monte Carlo Method, which requires certain assumptions. The significant assumptions used for this award were as follows: Expected volatility 31.8 % Dividend yield 0.8 % Risk-free interest rate 0.4 % Expected term 3.3 years Share Units The Company grants share units to certain non-employee directors under the Amended and Restated Non-Employee Director Share Incentive Plan. The share units are convertible into shares of the Company’s Class A Common Stock as provided for in that plan. Share units are accompanied by dividend equivalent rights that are converted to additional share units when such dividends are declared. The following is a summary of the status of the Company’s share units as of June 30, 2024 and activity during the fiscal year then ended: (Shares in thousands) Shares Weighted-Average Outstanding at June 30, 2023 112.7 $ 87.84 Granted 8.7 123.81 Dividend equivalents 2.2 139.11 Converted (1) (10.0) 105.78 Outstanding at June 30, 2024 113.6 90.02 (1) The total intrinsic value of share units converted during fiscal 2024, 2023 and 2022 was $1.5 million, $4.1 million, and $8.5 million, respectively. Cash Units Certain non-employee directors defer cash compensation in the form of cash payout share units, which are not subject to the Plans. These share units are classified as liabilities and, as such, their fair value is adjusted to reflect the current market value of the Company’s Class A Common Stock. The Company recorded $13 million, $8 million and $5 million as compensation income to reflect additional deferrals and the change in the market value for fiscal 2024, 2023 and 2022, respectively. DECIEM Stock Options As a result of the fiscal 2021 acquisition of additional shares of DECIEM, the Company had a stock option plan relating to its majority-owned subsidiary DECIEM (“DECIEM Stock Option Plan”). The DECIEM stock options were issued in replacement of and exchange for certain vested and unvested DECIEM employee stock options previously issued by DECIEM. The DECIEM stock options were subject to the terms and conditions of the DECIEM 2021 Stock Option Plan. In connection with the purchase of the remaining interest in DECIEM, all DECIEM stock options were exercised in the fiscal 2024 fourth quarter, resulting in the settlement of the stock option liability reducing the balance to zero as of June 30, 2024. The DECIEM stock options were reported as a stock option liability of $99 million in Other accrued liabilities in the accompanying consolidated balance sheets at June 30, 2023. The DECIEM stock options were liability-classified awards as they were expected to be settled in cash and were remeasured to fair value at each reporting date through date of settlement, with a corresponding charge to compensation expense. Total stock-based compensation expense is attributable to the exchange or replacement of and the remaining requisite service period of stock options. The total stock option expense (income) The following is a summary of the DECIEM stock option program as of June 30, 2024 and changes during the fiscal year then ended: (Shares in thousands) Shares Weighted- Outstanding at June 30, 2023 94.1 $ 58.48 Granted at fair value — — Exercised 94.1 56.65 Expired — — Forfeited — — Outstanding at June 30, 2024 — — Stock options granted to individuals under the DECIEM 2021 Stock Option Plan had a per-share weighted average grant date fair value of $1,557. There were no options granted during fiscal 2024, 2023 and 2022. Stock options granted vested between two to seven tranches over a service period of up to two years and all post-combination options were fully vested as of June 30, 2023. The total fair value of vested awards during fiscal 2023 and 2022 was not material. The Company attributed the value of option awards under the DECIEM Stock Option Plan on a graded vesting basis where awards vested at specified rates over a specified period. During fiscal 2024, all the DECIEM stock options were exercised and the intrinsic value of the stock options exercised was $114 million, which represented the cash paid to settle the DECIEM stock option liability. The DECIEM stock option liability as of June 30, 2023 and June 30, 2022 was measured using the Monte Carlo Method, which required certain significant assumptions including the starting equity value, revenue growth rates and EBITDA assumptions. Significant changes in the projected future operating results would have resulted in a higher or lower fair value measurement. Changes to the discount rates or volatilities would have had a lesser effect. These inputs were categorized as Level 3 of the valuation hierarchy. The following key assumptions were also used in the Monte Carlo Method: June 30, 2023 June 30, 2022 Risk-free rate 4.90% 3.20% Term to mid of last twelve-month period 0.46 years 1.42 years Operating leverage adjustment 0.45 0.45 Net sales discount rate 7.80% 6.00% EBITDA discount rate 11.30% 9.40% EBITDA volatility 32.00% 33.90% Net sales volatility 14.40% 15.30%

CHANGES IN OWNERSHIP INTEREST O

CHANGES IN OWNERSHIP INTEREST ON NET EARNINGS ATTRIBUTABLE TO THE ESTEE LAUDER COMPANIES INC.	12 Months Ended
	Jun. 30, 2024
Temporary Equity Disclosure [Abstract]
CHANGES IN OWNERSHIP INTEREST ON NET EARNINGS ATTRIBUTABLE TO THE ESTEE LAUDER COMPANIES INC.	CHANGES IN OWNERSHIP INTEREST ON NET EARNINGS ATTRIBUTABLE TO THE ESTÉE LAUDER COMPANIES INC. The following table summarizes the effects of changes in ownership of redeemable noncontrolling interest and noncontrolling interests on the Company's equity: Year Ended June 30 2024 2023 2022 Net earnings attributable to The Estée Lauder Companies Inc. $ 390 $ 1,006 $ 2,390 Transfers from redeemable noncontrolling interest: Increase in paid-in capital as a result of the purchase of shares from redeemable noncontrolling interest 162 — — Transfers from noncontrolling interests: Decrease in paid-in capital as a result of the purchase of shares from noncontrolling interests — — (19) Total effect of changes in ownership interest on equity attributable to The Estée Lauder Companies Inc. $ 552 $ 1,006 $ 2,371

NET EARNINGS ATTRIBUTABLE TO TH

NET EARNINGS ATTRIBUTABLE TO THE ESTEE LAUDER COMPANIES INC. PER COMMON SHARE	12 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
NET EARNINGS ATTRIBUTABLE TO THE ESTEE LAUDER COMPANIES INC. PER COMMON SHARE	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 shares underlying PSUs and RSUs where the vesting conditions have been met. 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 numerator and denominator of the basic and diluted EPS computations is as follows: Year Ended June 30 (In millions, except per share data) 2024 2023 2022 Numerator: Net earnings attributable to The Estée Lauder Companies Inc. $ 390 $ 1,006 $ 2,390 Denominator: Weighted-average common shares outstanding – Basic 359.0 357.9 360.0 Effect of dilutive stock options 0.9 2.3 3.7 Effect of PSUs 0.2 0.1 0.2 Effect of RSUs 0.7 0.6 1.0 Weighted-average common shares outstanding – Diluted 360.8 360.9 364.9 Net earnings attributable to The Estée Lauder Companies Inc. per common share: Basic $ 1.09 $ 2.81 $ 6.64 Diluted $ 1.08 $ 2.79 $ 6.55 The shares of Class A Common Stock underlying stock options, RSUs and PSUs that were excluded in the computation of diluted EPS because their inclusion would be anti-dilutive were as follows: Year Ended June 30 (In millions) 2024 2023 2022 Stock options 5.9 2.4 0.9 RSUs and PSUs 0.4 0.1 0.1 As of June 30, 2024, 2023 and 2022, 0.4 million shares, 0.4 million shares and 0.7 million shares at target, respectively, of Class A Common Stock underlying 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 19 – Stock Programs .

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	12 Months Ended
	Jun. 30, 2024
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	ACCUMULATED OTHER COMPREHENSIVE LOSS The components of AOCI included in the accompanying consolidated balance sheets consist of the following: Year Ended June 30 (In millions) 2024 2023 2022 Net derivative instruments, beginning of year $ 44 $ 68 $ (2) Gain on derivative instruments (1) 79 48 93 Provision for income taxes (18) (11) (21) Reclassification to earnings during the year: Foreign currency forward contracts (2) (50) (71) (3) Interest rate-related derivatives (3) — 1 1 Cross-currency swap contracts (1)(4) (19) (9) — Benefit for income taxes on reclassification (5) 16 18 — Net derivative instruments, end of year 52 44 68 Net pension and post-retirement adjustments, beginning of year (177) (114) (179) Changes in plan assets and benefit obligations: Net actuarial gains (losses) recognized (27) (79) 71 Prior service credit recognized 25 — (1) Translation adjustments 1 (1) — Benefit (provision) for income taxes — 17 (18) Amortization and settlements included in net periodic benefit cost (6) : Net actuarial gains (losses) (4) — 18 Net prior service cost (3) (1) (1) Settlements — 1 — Benefit (provision) for income taxes on reclassification (5) 2 — (4) Net pension and post-retirement adjustments, end of year (183) (177) (114) Cumulative translation adjustments, beginning of year (801) (716) (289) Translation adjustments (7) (129) (112) (409) Purchase of shares from redeemable noncontrolling interest (8) (73) — — Benefit (provision) for income taxes (6) 27 (18) Cumulative translation adjustments, end of year (1,009) (801) (716) Accumulated other comprehensive loss $ (1,140) $ (934) $ (762) (1) Includes the gain recognized in AOCI from cross-currency swap contracts which represents the amount excluded from effectiveness testing. (2) Amounts recorded in Net Sales in the accompanying consolidated statements of earnings. (3) Amounts recorded in Interest expense in the accompanying consolidated statements of earnings. (4) Amounts recorded in Selling, general and administrative in the accompanying consolidated statements of earnings. (5) Amounts recorded in Provision for income taxes in the accompanying consolidated statements of earnings. (6) Reclassification adjustments for pension and post-retirement plans is recorded in Other components of net periodic benefit cost in the accompanying consolidated statements of earnings. (7) See Note 13 – Derivative Financial Instruments for gains (losses) relating to net investment hedges. (8) Upon purchase of the remaining interest in DECIEM during the fourth quarter of fiscal 2024, the cumulative amount of translation adjustments were reallocated from redeemable noncontrolling interest back to the Company.

STATEMENT OF CASH FLOWS

STATEMENT OF CASH FLOWS	12 Months Ended
	Jun. 30, 2024
Supplemental Cash Flow Elements [Abstract]
STATEMENT OF CASH FLOWS	STATEMENT OF CASH FLOWS Supplemental cash flow information is as follows: Year Ended June 30 (In millions) 2024 2023 2022 Cash: Cash paid during the year for interest $ 359 $ 235 $ 163 Cash paid during the year for income taxes $ 550 $ 665 $ 760 Non-cash investing and financing activities: Capitalized interest and asset retirement obligations incurred $ 5 $ 13 $ 6 Deferred consideration payable $ — $ 300 $ 38 Property, plant and equipment accrued but unpaid $ 42 $ 246 $ 106

SEGMENT DATA AND RELATED INFORM

SEGMENT DATA AND RELATED INFORMATION	12 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
SEGMENT DATA AND RELATED INFORMATION	SEGMENT DATA AND RELATED INFORMATION Reportable operating segments include components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker (the “Chief Executive”) in deciding how to allocate resources and in assessing performance. As a result of the similarities in the manufacturing, marketing and distribution processes for all of the Company’s products, much of the information provided in the consolidated financial statements is similar to, or the same as, that reviewed on a regular basis by the Chief Executive. Although the Company operates in one business segment, beauty products, management also evaluates performance on a product category basis. While the Company’s results of operations are also reviewed on a consolidated basis, the Chief Executive reviews data segmented on a basis that facilitates comparison to industry statistics. Accordingly, net sales, depreciation and amortization, and operating income are available with respect to the manufacture and distribution of skin care, makeup, fragrance, hair care and other products. These product categories meet the definition of operating segments and, accordingly, additional financial data are provided below. The other segment includes the sales and related results of ancillary products and services that do not fit the definition of skin care, makeup, fragrance and hair care, including royalty revenue associated with the license of the TOM FORD trademark as discussed in Note 15 - Revenue Recognition . Product category performance is measured based upon net sales before returns associated with restructuring and other activities, and operating income (loss) before charges associated with restructuring and other activities. Returns and charges associated with restructuring and other activities are not allocated to the Company's product categories or geographic regions because they are centrally directed and controlled, are not included in internal measures of product category or geographic region performance and result from activities that are deemed Company-wide initiatives to redesign, resize and reorganize select areas of the business. The accounting policies for the Company’s reportable segments are substantially the same as those described in the summary of significant accounting policies, except for depreciation and amortization charges, which are allocated, primarily, based upon net sales. The assets and liabilities of the Company are managed centrally and are reported internally in the same manner as the consolidated financial statements; thus, no additional information is produced for the Chief Executive or included herein. During the fiscal 2024 second quarter, the Company identified and corrected prior-period misclassifications of net sales and operating income between certain of the Company’s product categories in its segment footnote. As a result, product category net sales and operating income have been adjusted from the amounts previously reported for the fiscal years ended June 30, 2023 and 2022, for comparability purposes. The misclassifications had no impact on the current-period or prior-period consolidated statements of earnings, consolidated statements of comprehensive income, consolidated balance sheets, or the consolidated statements of cash flows, and the Company determined that the impact on the Company’s current-period and previously issued financial statements for the respective periods was not material. 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. Net sales are predominantly attributed to a country within a geographic region based on the location of the customer. The Company is domiciled in the United States. Net sales in the United States, including net sales from travel retail locations, in fiscal 2024, 2023 and 2022 were $3,887 million, $3,848 million and $4,009 million, respectively. Net sales in mainland China, as well as net sales from travel retail locations, in fiscal 2024, 2023 and 2022 were approximately 26%, 28% and 34% of consolidated net sales, respectively. In fiscal 2024, 2023 and 2022, net sales in Korea, including net sales from travel retail locations, were approximately 8%, 10% and 11%, respectively, and no other country represented greater than 10% of the Company’s consolidated net sales. The Company’s long-lived assets in the United States at June 30, 2024, 2023 and 2022 were $2,087 million, $2,136 million and $2,153 million, respectively. 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

SCHEDULE II - VALUATION AND QUA

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS	12 Months Ended
	Jun. 30, 2024
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS	THE ESTÉE LAUDER COMPANIES INC. SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS Three Years Ended June 30, 2024 (In millions) Additions Description Balance (1) (2) Deductions Balance Reserves deducted in the balance sheet from the assets to which they apply: Allowance for doubtful accounts and customer deductions: Year ended June 30, 2024 $ 30 $ 7 $ — $ 11 (a) $ 26 Year ended June 30, 2023 $ 27 $ 21 $ — $ 18 (a) $ 30 Year ended June 30, 2022 $ 40 $ 5 $ — $ 18 (a) $ 27 Deferred tax valuation allowance: Year ended June 30, 2024 $ 200 $ 47 $ — $ 9 $ 238 Year ended June 30, 2023 $ 185 $ 36 $ — $ 21 $ 200 Year ended June 30, 2022 $ 168 $ 41 $ — $ 24 $ 185 (a) Includes amounts written-off, net of recoveries.

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements include the accounts of The Estée Lauder Companies Inc. and its subsidiaries (collectively, the “Company”). All significant intercompany balances and transactions have been eliminated. Certain amounts in the notes to the consolidated financial statements of prior years have been reclassified to conform to current year presentation.
Management Estimates	Management Estimates The preparation of financial statements and related disclosures in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses reported in those financial statements. Certain significant accounting policies that contain subjective management estimates and assumptions include those related to revenue recognition, inventory, pension and other post-retirement benefit costs, business combinations and asset acquisitions, goodwill, other intangible assets and long-lived assets, income taxes, redeemable noncontrolling interest and Deciem Beauty Group Inc. (“DECIEM”) stock options. Management evaluates the related estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, and makes adjustments when facts and circumstances dictate. As future events and their effects cannot be determined with precision, actual results could differ significantly from those estimates and assumptions. Significant changes, if any, in those estimates and assumptions resulting from continuing changes in the economic environment will be reflected in the consolidated financial statements in future periods.
Currency Translation and Transactions	Currency Translation and Transactions All assets and liabilities of foreign subsidiaries and affiliates are translated at year-end rates of exchange, while revenue and expenses are translated at monthly average rates of exchange for the period. Unrealized translation losses, net of tax, reported as translation adjustments through other comprehensive income (loss) (“OCI”) attributable to The Estée Lauder Companies Inc. were $135 million, $85 million and $427 million, net of tax, in fiscal 2024, 2023 and 2022, respectively. For the Company’s subsidiaries operating in highly inflationary economies, the U.S. dollar is the functional currency. Remeasurement adjustments in financial statements in a highly inflationary economy and other transactional gains and losses are reflected in earnings. These subsidiaries are not material to the Company’s consolidated financial statements or liquidity in fiscal 2024, 2023 and 2022. The Company enters into foreign currency forward contracts and may enter into option contracts to hedge foreign currency transactions for periods consistent with its identified exposures. The Company also uses cross-currency swap contracts to hedge the impact of foreign currency changes on certain intercompany foreign currency denominated debt. Additionally, the Company enters into foreign currency forward contracts to hedge a portion of its net investment in certain foreign operations, which are designated as net investment hedges. See Note 13 – Derivative Financial Instruments for further discussion . The Company categorizes these instruments as entered into for purposes other than trading.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include $926 million and $66 million of short-term time deposits at June 30, 2024 and 2023, respectively. The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents.
Investments	Investments Investments in the common stock of privately-held companies in which the Company has the ability to exercise significant influence, but less than a controlling financial interest, are accounted for under the equity method of accounting. For those equity securities without readily determinable fair values where the Company does not have the ability to exercise significant influence, the Company records them at cost, less impairment, plus/minus subsequent observable price changes, and performs an assessment each quarter to determine whether or not a triggering event has occurred that results in changes in fair value. Collectively, these investments were not material to the Company’s consolidated financial statements as of June 30, 2024 and 2023 and are included in Other assets in the accompanying consolidated balance sheets.
Accounts Receivable	Accounts Receivable Accounts receivable, net is stated net of the allowance for doubtful accounts, including credit losses, and customer deductions. Payment terms are short-term in nature and are generally less than one year. The Company is required to measure credit losses based on the Company’s estimate of expected losses rather than incurred losses, which generally results in earlier recognition of allowances for credit losses. The Company evaluates certain criteria, including aging and historical write-offs, the current economic condition of specific customers and future economic conditions of countries utilizing a consumption index to determine the appropriate allowance for credit losses. The Company writes-off receivables once it is determined that the receivables are no longer collectible and as allowed by local laws. See Note 15 – Revenue Recognition for additional information.
Inventory and Promotional Merchandise	Inventory and Promotional Merchandise Inventory and promotional merchandise only includes inventory considered saleable or usable in future periods, and is stated at the lower of cost or net realizable value, with cost being based on standard cost and production variances, which approximate actual cost on the first-in, first-out method. Cost components include raw materials, componentry, direct labor and overhead (e.g., indirect labor, utilities, depreciation, purchasing, receiving, inspection and warehousing) as well as inbound freight. Manufacturing overhead is allocated to the cost of inventory based on the normal production capacity. Unallocated overhead during periods of abnormally low production levels are recognized as cost of sales in the period in which they are incurred. Promotional merchandise is charged to expense at the time the merchandise is shipped to the Company’s customers. Included in inventory and promotional merchandise is an inventory obsolescence reserve, which represents the difference between the cost of the inventory and its net realizable value. This reserve is calculated using an estimated obsolescence percentage applied to the inventory based on age and historical results. In addition, and as necessary, specific reserves for future known or anticipated events may be established.
Derivative Financial Instruments	Derivative Financial Instruments The Company’s derivative financial instruments are recorded as either assets or liabilities on the balance sheet and measured at fair value. All derivatives are (i) designated as a hedge of the fair value of a recognized asset or liability or of an unrecognized firm commitment (“fair value” hedge), (ii) designated as a hedge of a forecasted transaction or of the variability of cash flows to be received or paid related to a recognized asset or liability (“cash flow” hedge), (iii) designated as a hedge of a net investment in certain foreign operations ("net investment" hedge), or (iv) not designated as a hedging instrument. For each derivative contract entered into, where the Company looks to obtain hedge accounting treatment, the Company formally and contemporaneously documents all relationships between hedging instruments and hedged items, as well as its risk-management objective and strategy for undertaking the hedge transaction, the nature of the risk being hedged, and how the hedging instruments’ effectiveness in offsetting the hedged risk will be assessed prospectively and retrospectively. This process includes linking all derivatives to specific assets and liabilities on the balance sheet or to specific firm commitments or forecasted transactions. At inception, the Company evaluates the effectiveness of hedge relationships quantitatively, and has elected to perform, after initial evaluation, qualitative effectiveness assessments of certain hedge relationships to support an ongoing expectation of high effectiveness, if effectiveness testing is required. If based on the qualitative assessment, it is determined that a derivative has ceased to be a highly effective hedge, the Company will perform a quantitative assessment to determine whether to discontinue hedge accounting with respect to that derivative prospectively. For a fair value hedge, changes in the fair value of a derivative are recorded in current-period earnings, along with the loss or gain on the hedged asset or liability that is attributable to the hedged risk (including losses or gains on unrecognized firm commitments). For a cash flow hedge, changes in the fair value of a derivative of a forecasted transaction are recorded in OCI. Gains and losses deferred in OCI are then recognized in current-period earnings when earnings are affected by the variability of cash flows of the hedged forecasted transaction (e.g., when periodic settlements on a variable-rate asset or liability are recorded in earnings). The Company also enters into foreign currency forward contracts to hedge a portion of its net investment in certain foreign operations, which are designated as net investment hedges. The net gain or loss on these contracts is recorded within translation adjustments, as a component of AOCI on the Company’s consolidated balance sheets, until the sale or substantially complete liquidation of the underlying assets of the Company’s investment. For derivative instruments, such as foreign currency forward contracts or option contracts, not designated as hedging instruments, changes in the fair value are reported in current-period earnings. All derivative gains and losses relating to fair value hedges and cash flow hedges are recognized in the same income statement line as the hedged items. Cash flows from derivatives are classified within the consolidated statements of cash flows in the same category as the items being hedged. The cross-currency swap contracts designated as fair value hedges are classified within financing activities. The foreign currency forward contracts designated as net investment hedges are classified within investing activities, except the portion related to the excluded component which is classified within operating activities. Cash flows, and their related gains and losses, from the cash flow hedges and derivative instruments not designated as hedging instruments are classified within operating activities. See Note 13 – Derivative Financial Instruments for further discussion.
Property, Plant and Equipment	Property, Plant and Equipment
Business Combinations and Asset Acquisitions	Business Combinations and Asset Acquisitions The Company evaluates whether a transaction meets the definition of a business. The Company first applies a screen test to determine if substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets. If the screen test is met, the transaction is accounted for as an asset acquisition. If the screen test is not met, the Company further considers whether the set of assets or acquired entities have at a minimum, inputs and processes that have the ability to create outputs in the form of revenue. If the assets or acquired entities meet this criteria, the transaction is accounted for as a business combination. The Company uses the acquisition method of accounting for acquired businesses. Under the acquisition method, the Company's consolidated financial statements reflect the operations of an acquired business starting from the closing date of the acquisition. The Company allocates the purchase price to the tangible and identifiable intangible assets acquired and liabilities assumed based on their estimated fair values on the acquisition date. Any residual purchase price is recorded as goodwill. The Company recognizes assets acquired in an asset acquisition based on the cost to the Company on a relative fair value basis, which includes transaction costs in addition to consideration transferred and liabilities assumed or issued as part of the transaction. Neither goodwill nor bargain purchase gains are recognized in an asset acquisition; any excess of consideration transferred over the fair value of the net assets acquired, or the opposite, is allocated to qualifying assets based on their relative fair values. The determination of fair value, as well as the expected useful lives of certain assets acquired, requires management to make judgments and may involve the use of significant estimates, including assumptions with respect to estimated future cash flows, discount rates and valuation multiples from comparable publicly traded companies, among other things. See Note 5 – Asset Acquisition for further information.
Goodwill and Other Indefinite-lived Intangible Assets	Goodwill and Other Indefinite-lived Intangible Assets Goodwill is calculated as the excess of the cost of purchased businesses over the fair value of their underlying net assets. Other indefinite-lived intangible assets principally consist of trademarks. Goodwill and other indefinite-lived intangible assets are not amortized. The Company assesses goodwill and other indefinite-lived intangible assets at least annually for impairment as of the beginning of the fiscal fourth quarter or more frequently if certain events or circumstances exist. The Company tests goodwill for impairment at the reporting unit level, which is one level below the Company’s operating segments. The Company identifies its reporting units by assessing whether the components of its operating segments constitute businesses for which discrete financial information is available and management of each operating segment regularly reviews the operating results of those components. The Company makes certain judgments and assumptions in allocating assets and liabilities to determine carrying values for its reporting units. When testing goodwill for impairment, the Company has the option of first performing a qualitative assessment to determine whether it is more-likely-than-not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform a quantitative goodwill impairment test. The Company uses a single quantitative step when determining the subsequent measurement of goodwill by comparing the fair value of a reporting unit with its carrying amount and recording an impairment charge for the amount that the carrying amount exceeds the fair value, up to the total amount of goodwill allocated to that reporting unit. When testing other indefinite-lived intangible assets for impairment, the Company also has the option of first performing a qualitative assessment to determine whether it is more-likely-than-not that the other indefinite-lived intangible asset is impaired as a basis for determining whether it is necessary to perform a quantitative test. The quantitative impairment test for other indefinite-lived intangible assets encompasses calculating the fair value of an other indefinite-lived intangible asset and comparing the fair value to its carrying value. If the carrying value exceeds the fair value, an impairment charge is recorded.
Long-Lived Assets	Long-Lived Assets The Company reviews long-lived assets, primarily intangible assets subject to amortization, right-of-use assets and property, plant and equipment, for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. When such events or changes in circumstances occur, a recoverability test is performed comparing projected undiscounted cash flows from the use and eventual disposition of an asset or asset group to its carrying value. If the projected undiscounted cash flows are less than the carrying value, then an impairment charge would be measured and recorded for the excess of the carrying value over the fair value. Specifically for right-of-use assets, estimated fair value is based on discounting market rent using a real estate discount rate.
Leases	Leases The Company recognizes a lease liability and a related right-of-use (“ROU”) asset at the commencement date for leases on its consolidated balance sheet, excluding short-term leases as noted below. The lease liability is equal to the present value of unpaid lease payments over the remaining lease term. The Company’s lease term at the commencement date may reflect options to extend or terminate the lease when it is reasonably certain that such options will be exercised. To determine the present value of the lease liability, if the rate implicit in the lease is not readily determinable, the Company uses an incremental borrowing rate, which is defined as the rate of interest that the Company would have to pay to borrow (on a collateralized basis over a similar term) an amount equal to the lease payments in similar economic environments. The ROU asset is based on the corresponding lease liability adjusted for certain costs such as initial direct costs, prepaid lease payments and lease incentives received. Both operating and finance lease ROU assets are reviewed for impairment, consistent with other long-lived assets, whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. After an ROU asset is impaired, any remaining balance of the ROU asset is amortized on a straight-line basis over the shorter of the remaining lease term or the estimated useful life. After the lease commencement date, the Company evaluates lease modifications, if any, that could result in a change in the accounting for leases. For a lease modification, an evaluation is performed to determine if it should be treated as either a separate lease or a change in the accounting of an existing lease. In addition, significant changes in events or circumstances within the Company’s control are assessed to determine whether a change in the accounting for leases is required. For lease modifications that result in partial termination of the lease, the Company has elected the proportional method whereby the carrying amount of the ROU asset is decreased in proportion with the full or partial termination of the lease based on the adjustment to the carrying value of the lease liability. The difference between those adjustments is recognized in Selling, general and administrative expense in the accompanying consolidated statements of earnings at the effective date of the termination. Certain of the Company’s leases provide for variable lease payments for the right to use an underlying asset that vary due to changes in facts and circumstances occurring after the commencement date, other than the passage of time. Variable lease payments that are dependent on an index or rate (e.g., Consumer Price Index) are included in the initial measurement of the lease liability, the initial measurement of the ROU asset, and the lease classification test based on the index or rate as of the commencement date. Any changes from the commencement date estimation of the index- and rate-based variable payments are expensed as incurred in the period of the change. Variable lease payments that are not known at the commencement date and are determinable based on the performance or use of the underlying asset , are not included in the initial measurement of the lease liability or the ROU asset, but instead are expensed as incurred. The Company’s variable lease payments primarily include rents based on a percentage of sales in excess of stipulated levels, common area maintenance based on the percentage of the total square footage leased by the Company, as well as costs relating to embedded leases, such as third-party manufacturing agreements. Certain of the Company’s contracts contain lease components as well as non-lease components, such as an agreement to purchase services. For purposes of allocating contract consideration, the Company does not separate the lease components from non-lease components for all asset classes. Short-term leases (i.e. leases with a term of 12 months or less) are not recorded as ROU assets or lease liabilities on the Company’s consolidated balance sheets, and the related lease payments are recognized in net earnings on a straight-line basis over the lease term. For certain leases relating to automobiles, information technology equipment and office equipment, the Company utilizes the portfolio approach. Under this approach, the Company combines and accounts for leases (as a portfolio) with similar characteristics (e.g., lease term, discount rates, etc.) as a single lease, provided its application is not materially different when compared to the application at the individual lease level.
Concentration of Credit Risk	Concentration of Credit Risk The Company is a worldwide manufacturer, marketer and seller of skin care, makeup, fragrance and hair care products. The Company’s sales subject to credit risk are made primarily to retailers in its travel retail business, department stores, specialty multi-brand retailers and perfumeries. The Company grants credit to qualified customers. While the Company does not believe it is exposed significantly to any undue concentration of credit risk at this time, it continues to monitor its customers' abilities, individually and collectively, to make timely payments.
Revenue Recognition and Royalty Revenue	Revenue Recognition Performance Obligations The Company recognizes revenue at a point in time when it satisfies a performance obligation by transferring control over a product and other promised goods and services to a customer. The Company sells wholesale to customers in distribution channels that include department stores, travel retail, specialty-multi retailers, perfumeries, salons/spas and through various online sites operated by authorized retailers, including pure-play sites. The primary performance obligation related to these channels of distribution is product sales where revenue is recognized as control of the product transfers to the customer. In the Americas region, revenue is generally recognized at the time the product is made available and provided to the customer’s carrier at the Company’s location, and in the Europe, the Middle East & Africa and Asia/Pacific regions, revenue is generally recognized based upon the customer’s receipt. The Company has certain arrangements with customers whereby it is responsible for shipping and handling through the named place of destination, which occurs after the customer has obtained control. As a result, the Company has made a policy election that permits us to account for shipping and handling activities that occur after the customer has obtained control of a good as a fulfillment cost rather than as an additional promised service. For these arrangements, the Company accrues all shipping and handling expenses related to the shipped products in the period that the revenue is recognized. The Company also sells direct to consumers at Company-operated freestanding stores and online through Company-owned and operated e-commerce sites and through third-party online malls. At Company-operated freestanding stores, revenue is recognized when control of the product is transferred at the point of sale. Revenue from online sales is recognized when control of the product is transferred, generally based upon the consumer’s receipt. In connection with the sale of product, the Company may provide other promised goods and services that are deemed to be performance obligations. These are comprised of gift with purchase and purchase with purchase promotions, customer loyalty program obligations, gift cards and other promotional goods including samples and testers. The Company provides gift with purchase promotional products to certain customers generally without additional charge and also provides purchase with purchase promotional products to certain customers at a discount in relation to prices charged for saleable product. Revenue is allocated between saleable product, gift with purchase product and purchase with purchase product based on the estimated relative standalone selling prices. Revenue is deferred and ultimately recognized based on the timing differences, if any, between when control of promotional goods and control of the related saleable products transfer to the Company’s customer (e.g., a third-party retailer), which is calculated based on the weighted-average number of days between promotional periods. The estimated standalone selling price allocated to promotional goods is based on a cost plus margin approach. The Company offers a number of different loyalty programs to its customers across regions, brands and distribution channels including points-based programs, tier-based programs and other programs. Revenue is allocated between the saleable product revenue and the material right loyalty obligations based on relative standalone selling prices when the consumer purchases the products that are earning them the right to the future benefits. Deferred revenue related to the Company’s loyalty programs is estimated based on the standalone selling price and is adjusted for an estimated breakage factor. Standalone selling price is determined primarily using the observable market price of the good or service benefit if it is sold by the Company or a cost plus margin approach for goods/services not directly sold by the Company. Breakage rates consider historical patterns of redemption and/or expiration. Revenue is recognized when the benefits are redeemed or expire. The Company also offers gift cards through Company-operated freestanding stores and Company-owned websites. The related deferred revenue is estimated based on expected breakage that considers historical patterns of redemption taking into consideration escheatment laws as applicable. In situations where promotional products are provided by the Company to its customers at the same time as the related saleable product, such as shipments of samples and testers, the cost of these promotional products are recognized as a cost of sales at the same time as the related revenue is recognized and no deferral of revenue is required. Product Returns, Sales Incentives and Other Forms of Variable Consideration In measuring revenue and determining the consideration the Company is entitled to as part of a contract with a customer, the Company takes into account the related elements of variable consideration. Such elements of variable consideration include product returns and sales incentives, such as volume rebates and discounts, markdowns, margin adjustments and early-payment discounts. We also enter into arrangements containing other forms of variable consideration, including certain demonstration arrangements, for which the Company does not receive a distinct good or service or for which the Company cannot reasonably estimate the fair value of the good or service. For these types of arrangements, the adjustments to revenue are recorded at the later of when (i) the Company recognizes revenue for the transfer of the related goods or services to the customer, or (ii) the Company pays, or promises to pay, the consideration. For the sale of goods with a right of return, the Company only recognizes revenue for the consideration it expects to be entitled to (considering the products to be returned) and records a sales return accrual within Other accrued liabilities for the amount it expects to credit back its customers. In addition, the Company recognizes an asset included in Inventory and promotional merchandise and a corresponding adjustment to Cost of sales for the right to recover goods from customers associated with the estimated returns. The sales return accrual and corresponding asset include estimates that directly impact reported net sales. These estimates are calculated based on a history of actual returns, estimated future returns and information provided by retailers regarding their inventory levels. Consideration of these factors results in an estimate for anticipated sales returns that reflects increases or decreases related to seasonal fluctuations. In addition, as necessary, sales return accruals and the related assets may be established for significant future known or anticipated events. The types of known or anticipated events that are considered, and will continue to be considered, include the financial condition of the Company’s customers, store closings by retailers, changes in the retail environment and the Company’s decision to continue to support new and existing products. The Company estimates sales incentives and other variable consideration using the most likely amount method and records accruals within Other accrued liabilities when control of the related product is transferred to the customer. Under this method, certain forms of variable consideration are based on expected sell-through results, which requires subjective estimates. These estimates are supported by historical results as well as specific facts and circumstances related to the current period. The Company also enters into transactions and makes payments to certain of its customers related to demonstration, advertising and counter construction, some of which involve cooperative relationships with customers. These activities may be arranged either with unrelated third parties or in conjunction with the customer. To the extent the Company receives a distinct good or service in exchange for consideration and the fair value of the benefit can be reasonably estimated, the Company’s share of the counter depreciation and the other costs of these transactions (regardless of to whom they were paid) are reflected in Selling, general and administrative expenses in the accompanying consolidated statements of earnings. See Note 15 – Revenue Recognition for further discussion . For revenue disaggregated by product category and geographic region, see Note 24 – Segment Data and Related Information . Royalty Revenue - License Arrangements As a result of the acquisition of the TOM FORD brand, the Company entered into license arrangements with the Marcolin Group (“Marcolin”) and Ermenegildo Zegna N.V. (“Zegna”). As part of these arrangements, the Company licensed the TOM FORD trademark for eyewear (“Eyewear”) to Marcolin and for fashionwear (“Fashion”) to Zegna. Licensing the TOM FORD trademark to customers represents a revenue-generating activity in the ordinary course of business for the Company. The Company’s performance obligation is to license the TOM FORD trademark to Marcolin and to Zegna, which grants them the right to access the symbolic intellectual property. The licensing arrangements stipulate that licensees must pay a sales-based royalty, with a guaranteed minimum, to the Company. The Company satisfies its performance obligation over the license period, as the Company fulfills its promise to grant the licensees rights to use and benefit from the intellectual property as well as maintain the intellectual property. As such, revenue for both the Marcolin and Zegna arrangements is recognized over time. Royalty payments are collected on a quarterly basis. The Company expects the guaranteed minimum royalty amounts to be exceeded and, as a result, sales-based royalties will be recognized in the period in which the sales occur. The upfront payment received from Marcolin is recognized on a straight-line basis over the estimated economic life of the license. See Note 5 – Asset Acquisition and Note 15 - Revenue Recognition for further information regarding the acquisition of the TOM FORD brand.
Advertising and Promotion	Advertising and Promotion
Research and Development	Research and Development Research and development costs of $360 million, $344 million and $307 million in fiscal 2024, 2023 and 2022, respectively, are recorded in Selling, general and administrative expenses in the accompanying consolidated statements of earnings and are expensed as incurred.
Shipping and Handling	Shipping and Handling Shipping and handling expenses of $792 million, $838 million and $860 million in fiscal 2024, 2023 and 2022, respectively, are recorded in Selling, general and administrative expenses in the accompanying consolidated statements of earnings and include distribution center costs, promotional shipping costs, third-party logistics costs and outbound freight.
Royalty Fees - License Arrangements	Royalty Fees - License Arrangements The Company’s license agreements provide the Company with worldwide rights to manufacture, market and sell beauty and beauty-related products (or particular categories thereof) using the licensors’ trademarks. The Company's current license arrangements have an initial term of approximately 3 years to 10 years, and are renewable subject to the Company’s compliance with the license agreement provisions. As of June 30, 2024, the remaining terms considering available renewal periods range from 2 years to approximately 26 years. Under each license, the Company is required to pay royalties to the licensor, at least annually, based on net sales to third parties. Certain license agreements may require minimum royalty payments, incremental royalties based on net sales levels and minimum spending on advertising and promotional activities. Royalty expenses are accrued in the period in which net sales are recognized while advertising and promotional expenses are accrued at the time these costs are incurred.
Stock-Based Compensation	Stock-Based Compensation The Company records stock-based compensation, measured at the fair value of the awards that are ultimately expected to vest, as an expense in the consolidated financial statements, net of estimated forfeitures. All excess tax benefits and tax deficiencies related to stock-based compensation awards are recorded as income tax expense or benefit in the accompanying consolidated statements of earnings.
Income Taxes	Income Taxes The Company calculates and provides for income taxes in each tax jurisdiction in which it operates. As the application of various tax laws relevant to the Company’s global business is often uncertain, significant judgment is required in determining the Company’s annual tax expense and in evaluating the Company’s tax positions. The provision for income taxes includes the amounts payable or refundable for the current year, the effect of deferred taxes and impacts from uncertain tax positions. The Company recognizes deferred tax assets and liabilities for future tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their respective tax basis, net operating losses, tax credit and other carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates when the assets and liabilities are expected to be realized or settled. The Company regularly reviews deferred tax assets for realizability and establishes valuation allowances based on available evidence including historical operating losses, projected future taxable income, expected timing of the reversals of existing temporary differences, and appropriate tax planning strategies. If the Company’s assessment of the realizability of a deferred tax asset changes, an increase to a valuation allowance will result in a reduction of net earnings at that time, while the reduction of a valuation allowance will result in an increase of net earnings at that time. The Company provides tax reserves for U.S. federal, state, local and foreign tax exposures relating to periods subject to audit. The development of reserves for these exposures requires judgments about tax issues, potential outcomes and timing, and is a subjective critical estimate. The Company assesses its tax positions and records tax benefits for all years subject to examination based upon management’s evaluation of the facts, circumstances, and information available at the reporting dates. For those tax positions where it is more-likely-than-not that a tax benefit will be sustained, the Company has recorded the largest amount of tax benefit with a greater than 50% likelihood of being realized upon settlement with a tax authority that has full knowledge of all relevant information. For those tax positions where it is more-likely-than-not that a tax benefit will not be sustained, no tax benefit has been recognized in the consolidated financial statements. The Company classifies applicable interest and penalties as a component of the provision for income taxes. Although the outcome relating to these exposures is uncertain, in management’s opinion adequate provisions for income taxes have been made for estimable potential liabilities emanating from these exposures. If actual outcomes differ materially from these estimates, they could have a material impact on the Company’s consolidated net earnings.
Redeemable Noncontrolling Interest	Redeemable Noncontrolling Interest On May 18, 2021, the Company acquired additional shares in DECIEM , a Toronto-based skin care company. The Company originally acquired a minority interest in DECIEM in June 2017. The acquisition of additional shares increased the Company's equity interest and was considered a step acquisition. As part of the increase in the Company's investment, the Company was granted the right to purchase (“Call Option”), and granted the remaining investors a right to sell to the Company (“Put Option”), the remaining interests after a three-yea As a result of this redemption feature, the Company recorded redeemable noncontrolling interest, at its acquisition‑date fair value, that was classified as mezzanine equity in the accompanying consolidated balance sheets. The noncontrolling interest is adjusted each reporting period for income (loss) attributable to the noncontrolling interest. Each reporting period, an adjustment, if any, is then recorded to adjust the noncontrolling interest to the higher of either the redemption value, assuming it was redeemable at the reporting date, or its carrying value. If and when applicable, these adjustments are recorded in Paid-in capital and are not reflected in the accompanying consolidated statements of earnings. In addition, based on the Company's policy election, if the redemption value exceeds the fair value of the noncontrolling interest on a cumulative basis, an adjustment is recorded in Retained earnings and the Company will adjust Net earnings (loss) attributable to The Estée Lauder Companies Inc. as required by the two-class method when calculating earnings per common share. Prior to May 31, 2024, the fair value of the noncontrolling interest per share was calculated by incorporating significant assumptions including the starting equity value, revenue growth rates and earnings before interest, taxes, depreciation and amortization (“EBITDA”) and the following key assumptions into the Monte Carlo method: risk-free rate, term to mid of last twelve-month period, operating leverage adjustment, net sales discount rate, EBITDA discount rate, EBITDA volatility and net sales volatility. The Company has not recorded any adjustments, as described above, since the acquisition of DECIEM.
Recently Issued Accounting Standards	Recently Adopted Accounting Standards FASB ASU No. 2022-04 – Liabilities—Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations In September 2022, the FASB issued authoritative guidance which is intended to enhance the transparency surrounding the use of supplier finance programs. The guidance requires companies that use supplier finance programs to make annual disclosures about the program’s key terms, the balance sheet presentation of related amounts, the confirmed amount outstanding at the end of the period and associated rollforward information. Only the amount outstanding at the end of the period must be disclosed in interim periods. The guidance does not affect the recognition, measurement or financial statement presentation of supplier finance program obligations. Effective for the Company – The guidance became effective for the Company’s first quarter fiscal 2024 and has been applied on a retrospective basis, except for the requirement to disclose rollforward information annually which is effective prospectively for the Company beginning in fiscal 2025. Impact on consolidated financial statements – The Company has supplier financing arrangements and applied the disclosure requirements as required by the amendments. Such information is included below wit hin Note 10 – Supplier Finance Programs . Reference Rate Reform (ASC Topic 848 “ ASC 848 ” ) In March 2020, the FASB issued authoritative guidance to provide optional relief for companies preparing for the discontinuation of interest rates such as the London Interbank Offered Rate (“LIBOR”) and applies to lease and other contracts, hedging instruments, held-to-maturity debt securities and debt arrangements that reference LIBOR or another rate that is expected to be discontinued as a result of reference rate reform. In January 2021, the FASB issued authoritative guidance that makes amendments to the new rules on accounting for reference rate reform. The amendments clarify that for all derivative instruments affected by the changes to interest rates used for discounting, margining or contract price alignment, regardless of whether they reference LIBOR or another rate expected to be discontinued as a result of reference rate reform, an entity may apply certain practical expedients in ASC 848. In December 2022, the FASB issued authoritative guidance to defer the sunset date of ASC 848 from December 31, 2022 to December 31, 2024. Effective for the Company – This guidance can only be applied for a limited time through December 31, 2024. Impact on consolidated financial statements – The Company completed its comprehensive evaluation of applying this guidance and adopted certain practical expedients for its interest rate swap agreements in the fiscal 2024 first quarter which did not have a significant impact on its consolidated financial statements. The practical expedients that were adopted permit its hedging relationships to continue without de-designation upon changes due to reference rate reform. Foreign currency forward contracts do not reference LIBOR and no practical expedients were elected, but are now discounted using the Secured Overnight Financing Rate ("SOFR"). For existing lease, debt arrangements and other contracts, the Company did not adopt any ASC 848 practical expedients as it relates to these arrangements. Recently Issued Accounting Standards FASB ASU No. 2023-07 – Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures In November 2023, the FASB issued authoritative guidance to improve reportable segment disclosure requirements. Companies are required to disclose significant segment expenses by reportable segment if they are regularly provided to the chief operating decision maker (CODM). Companies are also required to disclose other segment items by reportable segment. The guidance clarifies that companies may disclose more than one measure of segment profit or loss used by the CODM, provided that at least one of the reported measures includes the segment profit or loss measure that is most consistent with U.S. GAAP measurement principles. All existing annual disclosures about segment profit or loss, as well as the new requirements, must now be provided on an interim basis. Additionally, on an annual basis, the CODM’s title and position is required, as well as an explanation of how the CODM uses the reported measure(s) and other disclosures. The guidance does not change how companies identify their operating segments, aggregates those operating segments, or applies the quantitative thresholds to determine its reportable segments. Effective for the Company – The guidance is effective for the Company’s fiscal year ending June 30, 2025 Form 10-K and then in interim periods beginning in the Company’s first quarter of fiscal 2026. Early adoption is permitted. The guidance should be applied retrospectively unless impracticable. Impact on consolidated financial statement s – The Company is currently evaluating the impact that this guidance will have on its financial statement disclosures. FASB ASU No. 2023-09 – Income Taxes (Topic 740): Improvements to Income Tax Disclosures In December 2023, the FASB issued authoritative guidance to amend and enhance existing annual in come tax disclosures primarily focusing on two reporting areas: (1) greater disaggregation of information in the effective tax rate reconciliations and (2) disclosure of income taxes paid by the companies, disaggregated by applicable jurisdiction. Companies are required to use specific categories to prepare and disclose a tabular rate reconciliation (using both percentages and reporting currency amounts) of: • the reported income tax expense (or benefit) from continuing operations and the product of the income (or loss) from continuing operations before income taxes and the applicable statutory federal income tax rate of the jurisdiction of domicile. • reconciling items within certain categories that are equal to or greater than a specified quantitative threshold, including the nature, effect, and underlying causes of the reconciling items and the judgment used in categorizing the reconciling items. The guidance also requires companies to disclose the amount of income taxes paid (net of refunds received) disaggregated by federal, state, and foreign jurisdictions including individual jurisdictions with amounts paid equal to or greater than a specified quantitative threshold. The guidance also requires companies to disclose income (or loss) from continuing operations before income tax expense (or benefit) disaggregated between domestic and foreign as well as income tax expense (or benefit) from continuing operations disaggregated by federal, state, and foreign jurisdictions. Effective for the Company – The guidance is effective for the Company’s fiscal year ending June 30, 2026 Form 10-K. Early adoption is permitted. The guidance should be applied on a prospective basis with the option to apply the standard retrospectively. Impact on consolidated financial statement s – The Company is currently evaluating the impact that this guidance will have on its financial statement disclosures. SEC Final Rule Release No. 33-11275 – The Enhancement and Standardization of Climate-Related Disclosures for Investors In March 2024, the SEC adopted rules intended to enhance and standardize climate-related disclosures in registration statements and annual reports. The rules require significant effects of severe weather events and other natural conditions, amounts related to carbon offsets and renewable energy credits or certificates, as well as material impacts on financial estimates and assumptions that are due to severe weather events and other natural conditions or disclosed climate-related targets or transition plans to be disclosed in the annual financial statements in certain circumstances. Effective for the Company – On April 4, 2024, the SEC issued an order staying the final rule on climate-related disclosures pending certain legal challenges. Under the rule as currently issued, the disclosure requirements related to the annual financial statements are expected to be effective for the Company's annual report on Form 10-K for the fiscal year ending June 30, 2026. The Company is not required to provide comparative information in the year of adoption. Impact on consolidated financial statement s – The Company is currently evaluating the impact that this guidance will have on its annual financial statement disclosures. No other recently issued accounting pronouncements are expected to have a material impact on the Company’s consolidated financial statements.

INVENTORY AND PROMOTIONAL MER_2

INVENTORY AND PROMOTIONAL MERCHANDISE (Tables)	12 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Schedule of inventory and promotional merchandise	Inventory and promotional merchandise consists of the following: June 30 (In millions) 2024 2023 Raw materials $ 696 $ 876 Work in process 308 362 Finished goods 903 1,404 Promotional merchandise 268 337 $ 2,175 $ 2,979

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	12 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
Schedule of property, plant and equipment	Property, plant and equipment consists of the following: June 30 (In millions) 2024 2023 Assets (Useful Life) Land and improvements (1) $ 68 $ 70 Buildings and improvements (10 to 40 years) 929 843 Machinery and equipment (3 to 10 years) 1,253 1,071 Computer hardware and software (4 to 10 years) 1,861 1,651 Furniture and fixtures (5 to 10 years) 137 136 Leasehold improvements 2,418 2,310 Construction in progress 500 827 7,166 6,908 Less accumulated depreciation and amortization (4,030) (3,729) $ 3,136 $ 3,179 (1) Land improvements are depreciated over a 10 year useful life.

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	12 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill by product category and related change in the carrying amount	The following table presents goodwill by product category and the related change in the carrying amount: (In millions) Skin Care Makeup Fragrance Hair Care Total Balance as of June 30, 2022 Goodwill $ 1,702 $ 1,116 $ 249 $ 353 $ 3,420 Accumulated impairments (138) (732) (29) — (899) 1,564 384 220 353 2,521 Translation adjustments, goodwill (38) — 5 — (33) Translation adjustments, accumulated impairments (1) — (1) — (2) (39) — 4 — (35) Balance as of June 30, 2023 Goodwill 1,664 1,116 254 353 3,387 Accumulated impairments (139) (732) (30) — (901) 1,525 384 224 353 2,486 Impairment charges (291) — — — (291) Translation adjustments, goodwill (52) — (1) — (53) Translation adjustments, accumulated impairments 1 — — — 1 (342) — (1) — (343) Balance as of June 30, 2024 Goodwill 1,612 1,116 253 353 3,334 Accumulated impairments (429) (732) (30) — (1,191) $ 1,183 $ 384 $ 223 $ 353 $ 2,143
Schedule of other intangible assets	Other intangible assets consist of the following: June 30, 2024 June 30, 2023 (In millions) Gross Accumulated Total Net Gross Accumulated Total Net Amortizable intangible assets: Customer lists and other $ 1,971 $ 895 $ 1,076 $ 2,030 $ 766 $ 1,264 Non-amortizable intangible assets: Trademarks 4,107 4,338 Total intangible assets $ 5,183 $ 5,602
Estimated aggregate amortization expense for the next five years	The estimated aggregate amortization expense for each of the next five fiscal years is as follows: Fiscal (In millions) 2025 2026 2027 2028 2029 Estimated aggregate amortization expense $ 141 $ 141 $ 124 $ 99 $ 98
Summary of impairment charges and carrying value of intangible assets and goodwill	A summary of the impairment charges for the twelve months ended June 30, 2024 and the remaining trademark and goodwill carrying values as of June 30, 2024 are as follows: Impairment Charges (1) Carrying Value (In millions) Twelve Months Ended June 30, 2024 As of June 30, 2024 Reporting Unit Geographic Region Trademark Goodwill Trademark (2) Goodwill Dr.Jart+ Asia/Pacific $ 180 $ 291 $ 129 $ — (1) The date of the fair value measurement for the Dr.Jart+ reporting unit and trademark intangible asset was April 1, 2024. (2) The carrying value of the trademark intangible asset, subsequent to the impairment charge, is equal to its fair value. A summary of the impairment charges for the twelve months ended June 30, 2023 and the remaining trademark and goodwill carrying values as of June 30, 2023, for each reporting unit, are as follows: Impairment Charges (1) Carrying Value (In millions) Twelve Months Ended As of June 30, 2023 Reporting Unit Geographic Region Trademarks Goodwill Trademarks (2) Goodwill Smashbox The Americas $ 21 $ — $ — $ — Dr.Jart+ Asia/Pacific 100 — 325 304 Too Faced The Americas 86 — 186 13 Total $ 207 $ — $ 511 $ 317 (1) The date of the fair value measurement for the Smashbox, Dr.Jart+, and Too Faced trademark intangible assets was December 31, 2022, November 30, 2022, and November 30, 2022, respectively. (2) The carrying values of the trademark intangible assets, subsequent to the impairment charges, are equal to their fair values. A summary of the trademark impairment charges for the three and twelve months ended June 30, 2022 and the remaining carrying values as of June 30, 2022, for each reporting unit, are as follows: (In millions) Impairment Charges (1) Carrying Value (2) Reporting Unit: Geographic Region Three Months Ended June 30, 2022 Twelve Months Ended June 30, 2022 As of June 30, 2022 GLAMGLOW The Americas $ — $ 11 $ — Dr.Jart+ Asia/Pacific 25 230 428 Total $ 25 $ 241 $ 428 (1) The date of the fair value measurement for the GLAMGLOW trademark intangible asset was March 31, 2022. The dates of the fair value measurements for the Dr.Jart+ trademark intangible asset were February 28, 2022 and April 1, 2022. (2) The carrying values of the trademark intangible assets, subsequent to the impairment charges, are equal to their fair values.

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Lease, cost	A summary of total lease costs and other information for the periods relating to the Company’s finance and operating leases is as follows: June 30 (In millions) 2024 2023 2022 Total lease cost Finance lease cost: Amortization of right-of-use assets $ 11 $ 11 $ 12 Interest on lease liabilities — — — Operating lease cost 458 444 465 Short-term lease cost 45 41 24 Variable lease cost 227 213 332 Total $ 741 $ 709 $ 833 Other information Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 489 $ 463 $ 506 Financing cash flows from finance leases $ 10 $ 15 $ 18 Right-of-use assets obtained in exchange for new operating lease liabilities $ 466 $ 273 $ 279 Right-of-use assets obtained in exchange for new finance lease liabilities $ 1 $ 34 $ 10 Weighted-average remaining lease term – finance leases 16 years 14 years 3 years Weighted-average remaining lease term – operating leases 9 years 9 years 9 years Weighted-average discount rate – finance leases 0.3 % 0.4 % 1.0 % Weighted-average discount rate – operating leases 2.8 % 2.5 % 2.4 %
Operating lease liability, maturity schedule	The total future minimum lease payments, over the remaining lease term, relating to the Company’s operating and finance leases for each of the next five fiscal years and thereafter is as follows: (In millions) Operating Leases Finance Leases Fiscal 2025 $ 406 $ 4 Fiscal 2026 374 3 Fiscal 2027 303 2 Fiscal 2028 225 2 Fiscal 2029 167 1 Thereafter 841 20 Total future minimum lease payments 2,316 32 Less imputed interest (261) — Total $ 2,055 $ 32
Finance lease liability, maturity schedule	The total future minimum lease payments, over the remaining lease term, relating to the Company’s operating and finance leases for each of the next five fiscal years and thereafter is as follows: (In millions) Operating Leases Finance Leases Fiscal 2025 $ 406 $ 4 Fiscal 2026 374 3 Fiscal 2027 303 2 Fiscal 2028 225 2 Fiscal 2029 167 1 Thereafter 841 20 Total future minimum lease payments 2,316 32 Less imputed interest (261) — Total $ 2,055 $ 32
Schedule of operating lease and finance lease liabilities included in the consolidated balance sheet	Operating lease and finance lease liabilities included in the consolidated balance sheet are as follows: June 30 2024 2023 (In millions) Operating Leases Finance Leases Operating Leases Finance Leases Total current liabilities $ 354 $ 4 $ 357 $ 9 Total noncurrent liabilities 1,701 28 1,698 33 Total $ 2,055 $ 32 $ 2,055 $ 42

CHARGES ASSOCIATED WITH RESTR_2

CHARGES ASSOCIATED WITH RESTRUCTURING AND OTHER ACTIVITIES (Tables)	12 Months Ended
	Jun. 30, 2024
Restructuring and Related Activities [Abstract]
Schedule Of Restructuring And Other Charges	During fiscal 2024, the Company incurred charges associated with restructuring activities as follows: Sales Cost of Sales Operating Expenses Total (In millions) Restructuring Other Restructuring Program Component of the Profit Recovery and Growth Plan $ — $ — $ 92 $ 23 $ 115 Post-COVID Business Acceleration Program 1 1 1 7 10 Total $ 1 $ 1 $ 93 $ 30 $ 125
Schedule Of Restructuring And Other Charges Expected To Be Incurred	The Restructuring Program cumulative charges approved by the Company as of June 30, 2024 and through July 19, 2024, as previously disclosed on July 23, 2024, were: Sales Cost of Sales Operating Expenses Total (In millions) Restructuring Other Total Charges Approved Cumulative charges through June 30, 2024 $ — $ — $ 109 $ 78 $ 187 July 1, 2024 - July 19, 2024 1 9 24 12 46 Cumulative charges through July 19, 2024 $ 1 $ 9 $ 133 $ 90 $ 233 Included in the above table, cumulative Restructuring Program restructuring initiatives approved by the Company as of June 30, 2024 and through July 19, 2024, as previously disclosed on July 23, 2024, by major cost type were: (In millions) Employee- Asset- Contract Other Exit Total Restructuring Charges Approved Cumulative charges through June 30, 2024 $ 93 $ 7 $ — $ 9 $ 109 July 1, 2024 - July 19, 2024 23 — — 1 24 Cumulative charges through July 19, 2024 $ 116 $ 7 $ — $ 10 $ 133
Schedule of Total Cumulative Charges Recorded, Associated With Restructuring and Other Activities	The Company records approved charges associated with restructuring and other activities once the relevant accounting criteria have been met. Total cumulative charges recorded associated with restructuring and other activities for the Restructuring Program through June 30, 2024 were: Sales Cost of Sales Operating Expenses Total (In millions) Restructuring Other Total Charges Cumulative charges through June 30, 2024 $ — $ — $ 92 $ 23 $ 115 (In millions) Employee- Asset- Contract Other Exit Total Restructuring Charges Cumulative charges through June 30, 2024 $ 90 $ 2 $ — $ — $ 92 The Company records approved charges associated with restructuring and other activities once the relevant accounting criteria have been met. Total cumulative charges recorded associated with restructuring and other activities for the PCBA Program were: Sales Cost of Sales Operating Expenses Total (In millions) Restructuring Other Total Charges Fiscal 2021 $ 14 $ 2 $ 201 $ 4 $ 221 Fiscal 2022 4 5 109 9 127 Fiscal 2023 27 3 35 12 77 Fiscal 2024 1 1 1 7 10 Cumulative through June 30, 2024 $ 46 $ 11 $ 346 $ 32 $ 435 (In millions) Employee- Asset- Related Costs (1) Contract Other Exit Total Restructuring Charges (Adjustments) Fiscal 2021 $ 119 $ 75 $ 6 $ 1 $ 201 Fiscal 2022 84 11 13 1 $ 109 Fiscal 2023 3 31 (2) 3 35 Fiscal 2024 (4) 4 1 — 1 Cumulative through June 30, 2024 $ 202 $ 121 $ 18 $ 5 $ 346 (1) Asset-related costs include fiscal 2021 goodwill and other intangible asset impairment charges of $13 million and $34 million, respectively, relating to the exit of the global distribution of BECCA products.
Schedule of Changes in Accrued Restructuring Charges	Changes in accrued restructuring charges from the Restructuring Program inception through June 30, 2024 were: (In millions) Employee- Asset- Contract Other Exit Total Charges $ 90 $ 2 $ — $ — $ 92 Cash payments — — — — — Non-cash asset write-offs — (2) — — (2) Translation and other adjustments (2) — — — (2) Balance at June 30, 2024 $ 88 $ — $ — $ — $ 88 Changes in accrued restructuring charges from the PCBA Program inception through June 30, 2024 were: (In millions) Employee- Asset- Contract Other Exit Total Charges $ 119 $ 75 $ 6 $ 1 $ 201 Cash payments (18) — (6) (1) (25) Non-cash asset write-offs — (75) — — (75) Balance at June 30, 2021 101 — — — 101 Charges 84 $ 11 $ 13 1 109 Cash payments (52) — $ (13) 1 (64) Non-cash asset write-offs — (11) (11) Translation and other adjustments (8) — $ — (2) (10) Balance at June 30, 2022 125 — — — 125 Charges 3 31 (2) $ 3 35 Cash payments (40) — (1) $ (3) (44) Non-cash asset write-offs — (31) — $ — (31) Translation and other adjustments (7) — 4 $ — (3) Balance at June 30, 2023 81 — 1 — 82 Charges (4) 4 1 — 1 Cash payments (49) — (1) — (50) Non-cash asset write-offs — (4) — — (4) Translation and other adjustments — — (1) — (1) Balance at June 30, 2024 $ 28 $ — $ — $ — $ 28

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Provision for income taxes	The provision for income taxes is comprised of the following: Year Ended June 30 (In millions) 2024 2023 2022 Current: Federal $ 185 $ 141 $ 219 Foreign 426 424 533 State and local 17 8 25 628 573 777 Deferred: Federal (147) (105) (12) Foreign (111) (77) (136) State and local (7) (4) (1) (265) (186) (149) $ 363 $ 387 $ 628
Reconciliation of the U.S. federal statutory income tax rate and actual effective tax rate on earnings before income taxes	A reconciliation of the U.S. federal statutory income tax rate to the Company’s actual effective tax rate on earnings before income taxes is as follows: Year Ended June 30 2024 2023 2022 Provision for income taxes at statutory rate 21.0 % 21.0 % 21.0 % Increase (decrease) due to: State and local income taxes, net of federal tax benefit 1.1 0.3 0.7 Stock-based compensation arrangements – excess tax expense (benefits), net 3.0 (0.8) (2.7) Taxation of foreign operations 15.9 8.6 1.4 Income tax reserve adjustments (0.4) (0.1) 0.3 Nondeductible goodwill impairment charges 7.9 — — U.S. research and development tax credit (2.2) (0.9) (0.3) Other, net 0.7 (0.4) 0.3 Effective tax rate (1) 47.0 % 27.7 % 20.7 % (1)
Significant components of deferred income tax assets and liabilities	Significant components of the Company’s deferred income tax assets and liabilities were as follows: June 30 (In millions) 2024 2023 Deferred tax assets: Compensation-related expenses $ 198 $ 189 Inventory obsolescence and other inventory related reserves 103 75 Retirement benefit obligations 45 60 Various accruals not currently deductible 228 225 Net operating loss, credit and other carryforwards 405 225 Unrecognized state tax benefits and accrued interest 13 12 Lease liabilities 462 479 Research-related expenses 248 200 Other differences between tax and financial statement values 103 107 1,805 1,572 Valuation allowance for deferred tax assets (238) (200) Total deferred tax assets 1,567 1,372 Deferred tax liabilities: Fixed assets and intangibles (614) (264) ROU assets (422) (432) Partnership interest in DECIEM — (404) Other differences between tax and financial statement values (32) (32) Total deferred tax liabilities (1,068) (1,132) Total net deferred tax assets $ 499 $ 240
Reconciliation of the beginning and ending amount of gross unrecognized tax benefits	A reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows: June 30 (In millions) 2024 2023 2022 Beginning of the year balance of gross unrecognized tax benefits $ 63 $ 61 $ 62 Gross amounts of increases as a result of tax positions taken during a prior period 4 9 12 Gross amounts of decreases as a result of tax positions taken during a prior period (4) (5) (6) Gross amounts of increases as a result of tax positions taken during the current period 5 4 7 Amounts of decreases in unrecognized tax benefits relating to settlements with taxing authorities (1) (4) (12) Reductions to unrecognized tax benefits as a result of a lapse of the applicable statutes of limitations (2) (2) (2) End of year balance of gross unrecognized tax benefits $ 65 $ 63 $ 61
Tax years that remain subject to examination vary by the major tax jurisdictions	The tax years subject to examination vary depending on the tax jurisdiction. As of June 30, 2024, the following tax years remain subject to examination by the major tax jurisdictions indicated: Major Jurisdiction Open Fiscal Years Belgium 2019 – 2024 Canada 2020 – 2024 China 2021 – 2024 France 2019 – 2024 Germany 2017 – 2024 Hong Kong 2018 – 2024 Italy 2019 – 2024 Japan 2020 – 2024 Korea 2021 - 2024 Spain 2018 – 2024 Switzerland 2020 – 2024 United Kingdom 2023 – 2024 United States 2023 – 2024 State of California 2018 – 2024 State and City of New York 2018 – 2024

OTHER ACCRUED AND NONCURRENT _2

OTHER ACCRUED AND NONCURRENT LIABILITIES (Tables)	12 Months Ended
	Jun. 30, 2024
Other Liabilities Disclosure [Abstract]
Schedule of other accrued liabilities	Other accrued liabilities consist of the following: June 30 (In millions) 2024 2023 Employee compensation $ 576 $ 546 Accrued sales incentives 426 321 Deferred revenue 327 323 Payroll and other non-income taxes 333 297 Accrued income taxes 335 222 Other 1,407 1,507 $ 3,404 $ 3,216

DEBT (Tables)

DEBT (Tables)	12 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of current and long-term debt and available financing	The Company’s current and long-term debt and available financing consist of the following: Debt at June 30 Available financing at June 30, 2024 (In millions) 2024 2023 Committed Uncommitted 5.150% Senior Notes, due May 15, 2053 ("2053 Senior Notes") $ 590 $ 590 $ — $ — 3.125% Senior Notes, due December 1, 2049 (“2049 Senior Notes”) 637 636 — — 4.150% Senior Notes, due March 15, 2047 (“2047 Senior Notes”) 494 494 — — 4.375% Senior Notes, due June 15, 2045 (“2045 Senior Notes”) 454 454 — — 3.700% Senior Notes, due August 15, 2042 (“2042 Senior Notes”) 247 247 — — 6.000% Senior Notes, due May 15, 2037 (“2037 Senior Notes”) 296 295 — — 5.000% Senior Notes, due February 14, 2034 ("2034 Senior Notes) 644 — — — 5.75% Senior Notes, due October 15, 2033 (“October 2033 Senior Notes”) 198 198 — — 4.650% Senior Notes, due May 15, 2033 ("May 2033 Senior Notes") 695 695 — — 1.950% Senior Notes, due March 15, 2031 (“2031 Senior Notes”) 551 550 — — 2.600% Senior Notes, due April 15, 2030 ("2030 Senior Notes") 595 589 — — 2.375% Senior Notes, due December 1, 2029 (“2029 Senior Notes”) 644 643 — — 4.375% Senior Notes, due May 15, 2028 ("2028 Senior Notes") 696 696 — — 3.150% Senior Notes, due March 15, 2027 (“2027 Senior Notes”) 499 499 — — 2.000% Senior Notes, due December 1, 2024 (“2024 Senior Notes”) 499 498 — — Commercial paper (1) — 988 — 2,500 Other long-term borrowings 28 33 — — Other current borrowings 4 9 — 155 Revolving credit facility — — 2,500 — 7,771 8,114 $ 2,500 $ 2,655 Less current debt including current maturities (504) (997) $ 7,267 $ 7,117 (1) As of June 30, 2023, commercial paper consisted of $1,000 million principal and unamortized debt discount of $12 million.
Schedule of long-term debt	As of June 30, 2024, the Company’s long-term debt consisted of the following: Notes (1) Issue Date Price Yield Principal Unamortized Interest rate Debt Semi-annual interest ($ in millions) 2053 Senior Notes May 2023 99.455 % 5.186 % $ 600 $ (3) $ — $ (7) May 15/November 15 2049 Senior Notes November 2019 98.769 3.189 650 (7) — (6) June 1/December 1 2047 Senior Notes (2) February 2017 99.739 4.165 500 (1) — (5) March 15/September 15 2045 Senior Notes (3) June 2015 97.999 4.497 300 (5) — (3) June 15/December 15 2045 Senior Notes (3) May 2016 110.847 3.753 150 13 — (1) June 15/December 15 2042 Senior Notes August 2012 99.567 3.724 250 (1) — (2) February 15/August 15 2037 Senior Notes (4) May 2007 98.722 6.093 300 (2) — (2) May 15/November 15 2034 Senior Notes (5) February 2024 99.689 5.040 650 (2) — (4) February 14/August 14 October 2033 Senior Notes (6) September 2003 98.645 5.846 200 (1) — (1) April 15/October 15 May 2033 Senior Notes (7) May 2023 99.897 4.663 700 (1) — (4) May 15/November 15 2031 Senior Notes (8),(9) March 2021 99.340 2.023 600 (2) (44) (3) March 15/September 15 2030 Senior Notes (9) April 2020 99.816 2.621 700 (1) (101) (3) April 15/October 15 2029 Senior Notes (10) November 2019 99.046 2.483 650 (4) — (2) June 1/December 1 2028 Senior Notes May 2023 99.897 4.398 700 (1) — (3) May 15/November 15 2027 Senior Notes (11) February 2017 99.963 3.154 500 — — (1) March 15/September 15 2024 Senior Notes November 2019 99.421 2.122 500 (1) — — June 1/December 1 (1) The Senior Notes contain certain customary covenants, including limitations on indebtedness secured by liens. (2) In November 2016, in anticipation of the issuance of the 2047 Senior Notes, the Company entered into a series of treasury lock agreements on a notional amount totaling $350 million at a weighted-average all-in rate of 3.01%. The treasury lock agreements were settled upon the issuance of the new debt, and the Company recognized a gain in OCI of $3 million that is being amortized against interest expense over the life of the 2047 Senior Notes. As a result of the treasury lock agreements, the debt discount and debt issuance costs, the effective interest rate on the 2047 Senior Notes will be 4.17% over the life of the debt. (3) In April and May 2015, in anticipation of the issuance of the 2045 Senior Notes in June 2015, the Company entered into a series of forward-starting interest rate swap agreements on a notional amount totaling $300 million at a weighted-average all-in rate of 2.38%. The forward-starting interest rate swap agreements were settled upon the issuance of the new debt and the Company recognized a gain in OCI of $18 million that will be amortized against interest expense over the life of the 2045 Senior Notes. As a result of the forward-starting interest rate swap agreements, the debt discount and debt issuance costs, the effective interest rate on the 2045 Senior Notes will be 4.216% over the life of the debt. In May 2016, the Company reopened this offering with the same terms and issued an additional $150 million for an aggregate amount outstanding of $450 million of 2045 Senior Notes. (4) In April 2007, in anticipation of the issuance of the 2037 Senior Notes, the Company entered into a series of forward-starting interest rate swap agreements on a notional amount totaling $210 million at a weighted-average all-in rate of 5.45%. The forward-starting interest rate swap agreements were settled upon the issuance of the new debt and the Company recognized a loss in OCI of $1 million that is being amortized to interest expense over the life of the 2037 Senior Notes. As a result of the forward-starting interest rate swap agreements, the debt discount and debt issuance costs, the effective interest rate on the 2037 Senior Notes will be 6.181% over the life of the debt. (5) In March 2022, in anticipation of the issuance of the 2034 Senior Notes, the Company entered into a series of treasury lock agreements on a notional amount totaling $300 million at a weighted average all-in rate of 2.02%. The treasury lock agreements were terminated in September 2022, and the Company recognized a gain in OCI of $31 million that is being amortized to interest expense over the life of the 2034 Senior Notes. As a result of the treasury lock agreements, as well as the debt discount and debt issuance costs, the effective interest rate on the 2034 Senior Notes will be 4.53% over the life of the debt. (6) In May 2003, in anticipation of the issuance of the 2033 Senior Notes, the Company entered into a series of treasury lock agreements on a notional amount totaling $195 million at a weighted-average all-in rate of 4.53%. The treasury lock agreements were settled upon the issuance of the new debt and the Company received a payment of $15 million that is being amortized against interest expense over the life of the 2033 Senior Notes. As a result of the treasury lock agreements, the debt discount and debt issuance costs, the effective interest rate on the 2033 Senior Notes will be 5.395% over the life of the debt. (7) In December 2022 and March 2023, in anticipation of the issuance of the May 2033 Senior Notes, the Company entered into a series of treasury lock agreements on a notional amount totaling $575 million at a weighted-average all-in rate of 3.57%. The treasury lock agreements were settled upon the issuance of the new debt, and the Company recognized a loss in OCI of $5 million that is being amortized to interest expense over the life of the May 2033 Senior Notes. As a result of the treasury lock agreements, as well as the debt discount and debt issuance costs, the effective interest rate on the May 2033 Senior Notes will be 4.83% over the life of the debt. (8) In March 2020, in anticipation of the issuance of the 2031 Senior Notes, the Company entered into a series of treasury lock agreements on a notional amount totaling $200 million at a weighted-average all-in rate of 0.84%. The treasury lock agreements were settled upon the issuance of the new debt, and the Company recognized a gain in OCI of $11 million that is being amortized to interest expense over the life of the 2031 Senior Notes. As a result of the treasury lock agreements, as well as the debt discount and debt issuance costs, the effective interest rate on the 2031 Senior Notes will be 1.89% over the life of the debt. (9) The Company entered into interest rate swap agreements with a notional amount totaling $700 million and $300 million to effectively convert the fixed rate interest on its outstanding 2030 Senior Notes and 2031 Senior Notes to variable interest rates based on three months fallback rate SOFR plus a margin. (10) In April and May 2019, in anticipation of the issuance of the 2029 Senior Notes, the Company entered into a series of treasury lock agreements on a notional amount totaling $500 million at a weighted-average all-in rate of 2.50%. The treasury lock agreements were settled upon the issuance of the new debt, and the Company recognized a loss in OCI of $33 million that is being amortized to interest expense over the life of the 2029 Senior Notes. As a result of the treasury lock agreements, as well as the debt discount and debt issuance costs, the effective interest rate on the 2029 Senior Notes will be 3.15% over the life of the debt. (11) In November 2016, in anticipation of the issuance of the 2027 Senior Notes, the Company entered into a series of treasury lock agreements on a notional amount totaling $450 million at a weighted-average all-in rate of 2.37%. The treasury lock agreements were settled upon the issuance of the new debt, and the Company recognized a gain in OCI of $2 million that is being amortized against interest expense over the life of the 2027 Senior Notes. As a result of the treasury lock agreements, the debt discount and debt issuance costs, the effective interest rate on the 2027 Senior Notes will be 3.18% over the life of the debt.

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of fair values of the derivative financial instruments included in the consolidated balance sheets	The fair values of the Company’s derivative financial instruments included in the consolidated balance sheets are presented as follows: Asset Derivatives Liability Derivatives Fair Value (1) Fair Value (1) June 30 June 30 (In millions) Balance Sheet 2024 2023 Balance Sheet 2024 2023 Derivatives Designated as Hedging Instruments: Foreign currency cash flow hedges (2) Prepaid expenses and other current assets; Other assets $ 34 $ 56 Other accrued liabilities $ 4 $ 16 Cross-currency swap contracts (3) Prepaid expenses and other current assets; Other assets 80 22 — — Net investment hedges Prepaid expenses and other current assets 15 — Other accrued liabilities — 13 Interest rate-related derivatives — — Other accrued liabilities 145 150 Total Derivatives Designated as Hedging Instruments 129 78 149 179 Derivatives Not Designated as Hedging Instruments: Foreign currency forward contracts Prepaid expenses and other current assets 19 20 Other accrued liabilities 17 20 Total derivatives $ 148 $ 98 $ 166 $ 199 (1) See Note 14 – Fair Value Measurements for further information about how the fair value of derivative assets and liabilities are determined. (2) Included in the asset derivatives for the foreign currency cash flow hedges at June 30, 2024 is approximately $2 million, classified within Other assets in the accompanying consolidated balance sheets. (3) Included in the asset derivatives for the cross-currency swap contracts at June 30, 2024 is approximately $70 million, classified within Other assets in the accompanying consolidated balance sheets.
Schedule of gains and losses related to derivative financial instruments designated as hedging instruments that are included in the assessment of effectiveness	The amounts of the gains and losses related to the Company’s derivative financial instruments designated as hedging instruments that are included in the assessment of effectiveness are as follows: Amount of Gain (Loss) Location of Gain Amount of Gain (Loss) Reclassified from AOCI into Earnings (1) June 30 from AOCI into June 30 (In millions) 2024 2023 Earnings 2024 2023 Derivatives in Cash Flow Hedging Relationships: Foreign currency forward contracts $ 47 $ 57 Net sales $ 50 $ 71 Interest rate-related derivatives — 2 Interest expense — (1) 47 59 50 70 Derivatives in Net Investment Hedging Relationships (2) : Foreign currency forward contracts (3) 1 (35) — — Total derivatives $ 48 $ 24 $ 50 $ 70 (1) The amount reclassified into earnings as a result of the discontinuance of cash flow hedges because it is probable that forecasted transactions will not occur by the end of the original time period was not material. (2) During fiscal 2024 and 2023 the gain recognized in earnings from net investment hedges related to the amount excluded from effectiveness testing was $17 million and $26 million, respectively. (3) Included within translation adjustments as a component of AOCI on the Company’s consolidated balance sheets. Amount of Gain (Loss) Recognized in Earnings on Derivatives Location of Gain (Loss) June 30 (In millions) Recognized in Earnings on Derivatives 2024 2023 Derivatives in Fair Value Hedging Cross-currency swap contracts (1) Selling, general and administrative $ 44 $ 42 Interest rate swap contracts (2) Interest expense $ 5 $ (36) (1) Changes in the fair value representing hedge components included in the assessment of effectiveness of the cross-currency swap contracts are exactly offset by the change in the fair value of the underlying intercompany foreign currency denominated debt. The gain recognized in earnings from cross-currency swap contracts related to the amount excluded from effectiveness testing in fiscal 2024 and 2023 was $19 million and $9 million, respectively. (2) Changes in the fair value of the interest rate swap agreements are exactly offset by the change in the fair value of the underlying long-term debt.
Schedule of cumulative amount of fair value hedging adjustments for designated and qualifying hedged items	Additional information regarding the cumulative amount of fair value hedging gain (loss) recognized in earnings for items designated and qualifying as hedged items in fair value hedges is as follows: (In millions) Line Item in the Consolidated Balance Sheets in Which the Hedged Item is Included Carrying Amount of the Cumulative Amount of Fair June 30, 2024 June 30, 2024 Long-term debt $ 849 $ (145) Intercompany debt $ — $ 87
Schedule of effects of fair value and cash flow hedging relationships for designated and qualified hedging instruments	Additional information regarding the effects of fair value and cash flow hedging relationships for derivatives designated and qualifying as hedging instruments is as follows: June 30 2024 2023 (In millions) Net Sales Selling, General and Administrative Interest Expense Net Sales Selling, General and Administrative Interest Expense Total amounts of income and expense line items presented in the consolidated statements of earnings in which the effects of fair value and cash flow hedges are recorded $ 15,608 $ 9,621 $ 378 $ 15,910 $ 9,575 $ 255 The effects of fair value and cash flow hedging relationships: Gain (loss) on fair value hedge relationships – interest rate contracts: Hedged item N/A N/A (5) N/A N/A 36 Derivatives designated as hedging instruments N/A N/A 5 N/A N/A (36) Gain (loss) on fair value hedge relationships – cross-currency swap contracts: Hedged item N/A (44) N/A N/A (42) N/A Derivatives designated as hedging instruments N/A 44 N/A N/A 42 N/A Loss on cash flow hedge relationships – interest rate contracts: Amount of loss reclassified from AOCI into earnings N/A N/A — N/A N/A (1) Gain on cash flow hedge relationships – foreign currency forward contracts: Amount of gain reclassified from AOCI into earnings 50 N/A N/A 71 N/A N/A N/A (Not applicable) June 30 2022 (In millions) Net Sales Selling, General and Administrative Interest Expense Total amounts of income and expense line items presented in the consolidated statements of earnings in which the effects of fair value and cash flow hedges are recorded $ 17,737 $ 9,888 $ 167 The effects of fair value and cash flow hedging relationships: Gain (loss) on fair value hedge relationships – interest rate contracts: Hedged item N/A N/A 130 Derivatives designated as hedging instruments N/A N/A (130) Gain (loss) on fair value hedge relationships – cross-currency swap contracts: Hedged item N/A — N/A Derivatives designated as hedging instruments N/A — N/A Loss on cash flow hedge relationships – interest rate contracts: Amount of loss reclassified from AOCI into earnings N/A N/A (1) Gain on cash flow hedge relationships – foreign currency forward contracts: Amount of gain reclassified from AOCI into earnings 3 N/A N/A N/A (Not applicable)
Schedule of gains and losses related to derivative financial instruments not designated as hedging instruments	The amount of the gains and losses related to the Company’s derivative financial instruments not designated as hedging instruments are presented as follows: Amount of Gain (Loss) Location of Gain (Loss) June 30 (In millions) Recognized in Earnings on Derivatives 2024 2023 Derivatives Not Designated as Hedging Instruments: Foreign currency forward contracts Selling, general and administrative $ 62 $ (10)
Schedule of Offsetting Liabilities	The following table provides information as if the Company had elected to offset the asset and liability balances of derivative instruments, netted in accordance with various criteria in the event of default or termination as stipulated by the terms of netting arrangements with each of the counterparties: As of June 30, 2024 As of June 30, 2023 (In millions) Gross Amounts of Assets / (Liabilities) Presented in Balance Sheet Contracts Subject to Netting Net Amounts of Assets / (Liabilities) Gross Amounts of Assets / (Liabilities) Presented in Balance Sheet Contracts Subject to Netting Net Amounts of Assets / (Liabilities) Derivative Financial Contracts Derivative assets $ 148 $ (49) $ 99 $ 98 $ (53) $ 45 Derivative liabilities (166) 49 (117) (199) 53 (146) Total $ (18) $ — $ (18) $ (101) $ — $ (101)
Schedule of Offsetting Assets	The following table provides information as if the Company had elected to offset the asset and liability balances of derivative instruments, netted in accordance with various criteria in the event of default or termination as stipulated by the terms of netting arrangements with each of the counterparties: As of June 30, 2024 As of June 30, 2023 (In millions) Gross Amounts of Assets / (Liabilities) Presented in Balance Sheet Contracts Subject to Netting Net Amounts of Assets / (Liabilities) Gross Amounts of Assets / (Liabilities) Presented in Balance Sheet Contracts Subject to Netting Net Amounts of Assets / (Liabilities) Derivative Financial Contracts Derivative assets $ 148 $ (49) $ 99 $ 98 $ (53) $ 45 Derivative liabilities (166) 49 (117) (199) 53 (146) Total $ (18) $ — $ (18) $ (101) $ — $ (101)

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of financial assets and liabilities measured at fair value on a recurring basis	The following table presents the Company’s hierarchy for its financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2024: (In millions) Level 1 Level 2 Level 3 Total Assets: Money market funds $ 1,507 $ — $ — $ 1,507 Foreign currency forward contracts — 68 — 68 Cross-currency swap contracts — 80 — 80 Total $ 1,507 $ 148 $ — $ 1,655 Liabilities: Foreign currency forward contracts $ — $ 21 $ — $ 21 Interest rate-related derivatives — 145 — 145 Total $ — $ 166 $ — $ 166 The following table presents the Company’s hierarchy for its financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2023: (In millions) Level 1 Level 2 Level 3 Total Assets: Money market funds $ 3,241 $ — $ — $ 3,241 Foreign currency forward contracts — 76 — 76 Cross-currency swap contracts — 22 — 22 Total $ 3,241 $ 98 $ — $ 3,339 Liabilities: Foreign currency forward contracts $ — $ 49 $ — $ 49 Interest rate-related derivatives — 150 — 150 DECIEM stock options — — 99 99 Total $ — $ 199 $ 99 $ 298
Schedule of estimated fair values of financial instruments	The estimated fair values of the Company’s financial instruments are as follows: June 30 2024 2023 (In millions) Carrying Fair Carrying Fair Nonderivatives Cash and cash equivalents $ 3,395 $ 3,395 $ 4,029 $ 4,029 Current and long-term debt 7,771 7,174 8,114 7,665 DECIEM stock options — — 99 99 Deferred consideration payable 341 340 341 338 Derivatives Cross-currency swap contracts - asset 80 80 22 22 Foreign currency forward contracts – asset, net 47 47 27 27 Interest rate-related derivatives – liability (145) (145) (150) (150)
Changes in DECEIM stock option liability	Changes in the DECIEM stock option liability for the year ended June 30, 2024 are included in Selling, general and administrative expenses in the accompanying consolidated statements of earnings and were as follows: (In millions) Fair Value DECIEM stock option liability as of June 30, 2023 $ 99 Changes in fair value, net of foreign currency remeasurements 13 DECIEM stock options exercised (114) Translation adjustments and other, net 2 DECIEM stock option liability as of June 30, 2024 $ —

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	12 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of changes in allowance for credit losses	Changes in the allowance for credit losses are as follows: June 30 (In millions) 2024 2023 Allowance for credit losses, beginning of period $ 16 $ 10 Provision (adjustment) for expected credit losses (4) 6 Write-offs, net & other 2 — Allowance for credit losses, end of period $ 14 $ 16
Schedule of significant changes in deferred revenue	Changes in deferred revenue are as follows: June 30 (In millions) 2024 2023 Deferred revenue, beginning of period $ 572 $ 362 Revenue recognized that was included in the deferred revenue balance at the beginning of the period (316) (343) Revenue deferred during the period 316 538 Other (12) 15 Deferred revenue, end of period $ 560 $ 572
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction	As of June 30, 2024, the remaining contractually guaranteed minimum royalty amounts due to the Company during future periods are as follows: (In millions) Minimum Remaining Royalties Fiscal 2025 $ 28 Fiscal 2026 $ 29 Fiscal 2027 $ 30 Fiscal 2028 $ 32 Fiscal 2029 $ 33 Thereafter $ 160

PENSION, DEFERRED COMPENSATIO_2

PENSION, DEFERRED COMPENSATION AND POST-RETIREMENT BENEFIT PLANS (Tables)	12 Months Ended
	Jun. 30, 2024
Retirement Benefits [Abstract]
Schedule of components of net periodic benefit cost for pension and other post-retirement benefit plans	The components of the above-mentioned plans as of and for the years ended June 30 are summarized as follows: Pension Plans Other than U.S. International Post-retirement (In millions) 2024 2023 2024 2023 2024 2023 Change in benefit obligation: Benefit obligation at beginning of year $ 912 $ 922 $ 522 $ 562 $ 176 $ 177 Service cost 35 37 26 27 2 1 Interest cost 46 40 19 15 8 8 Plan participant contributions — — 8 8 1 1 Actuarial loss (gain) (3) (30) (1) (51) (6) 4 Foreign currency exchange rate impact — — — (3) — (3) Benefits, expenses, taxes and premiums paid (49) (57) (32) (32) (12) (12) Plan amendments — — — — (25) — Settlements — — (2) (4) — — Special termination benefits — — 1 — — — Benefit obligation at end of year $ 941 $ 912 $ 541 $ 522 $ 144 $ 176 Change in plan assets: Fair value of plan assets at beginning of year $ 753 $ 838 $ 541 $ 579 $ 2 $ 14 Actual return on plan assets 14 (42) 29 (38) — (1) Foreign currency exchange rate impact — — (1) (7) — — Employer contributions 83 14 24 35 9 — Plan participant contributions — — 8 8 1 1 Settlements — — (2) (4) — — Benefits, expenses, taxes and premiums paid from plan assets (49) (57) (32) (32) (12) (12) Fair value of plan assets at end of year $ 801 $ 753 $ 567 $ 541 $ — $ 2 Funded status $ (140) $ (159) $ 26 $ 19 $ (144) $ (174) Amounts recognized in the Balance Sheet consist of: Other assets $ — $ — $ 125 $ 115 $ — $ — Other accrued liabilities (27) (21) (4) (4) (13) (9) Other noncurrent liabilities (113) (138) (95) (92) (131) (165) Funded status (140) (159) 26 19 (144) (174) Accumulated other comprehensive loss (income) 269 237 (5) (9) (21) 7 Net amount recognized $ 129 $ 78 $ 21 $ 10 $ (165) $ (167)
Net periodic benefit costs and weighted-average assumptions	Pension Plans Other than U.S. International Post-retirement ($ in millions) 2024 2023 2022 2024 2023 2022 2024 2023 2022 Components of net periodic benefit cost: Service cost $ 35 $ 37 $ 46 $ 26 $ 27 $ 31 $ 2 $ 1 $ 2 Interest cost 46 40 31 19 15 10 8 8 6 Expected return on assets (54) (57) (55) (25) (17) (13) (1) (1) (1) Amortization of: Actuarial loss (gain) 4 3 15 (8) (3) 2 — — 1 Prior service cost 1 — — (1) (1) (1) (3) — — Settlements — — — — 1 — — — — Special termination benefits — — — 1 — 4 — — — Net periodic benefit cost $ 32 $ 23 $ 37 $ 12 $ 22 $ 33 $ 6 $ 8 $ 8 Assumptions used to determine benefit obligations at June 30: Discount rate 5.50 – 5.70% 5.20 – 5.30% 4.30 – 4.50% 1.75 – 10.00% 1.00 – 9.00% 0.75 – 9.00% 5.00 – 11.00% 5.00 – 10.75% 4.50 – 9.75% Rate of compensation increase 2.50 – 8.00% 2.50 – 8.00% 2.50 – 8.00% 1.50 – 5.00% 1.75 – 5.00% 1.50– 5.00% N/A N/A N/A Weighted-average assumptions used to determine benefit obligations at June 30: Discount rate 5.68 % 5.29 % 4.48 % 3.50 % 3.69 % 2.77 % 5.51 % 5.19 % 4.68 % Rate of compensation increase 2.50 – 8.00% 2.50 – 8.00% 2.50 – 8.00% 3.00 % 3.08 % 3.08 % N/A N/A N/A Assumptions used to determine net periodic benefit cost for the year ended June 30: Discount rate 5.20 – 5.30% 4.30 – 4.50% 2.50 – 3.00% 1.00 – 9.00% .75– 9.00% .50 – 7.25% 5.00 – 10.75% 4.50 – 9.75% 2.70 – 9.00% Expected return on assets 6.25 % 6.25 % 6.25 % 2.25 – 9.00% 1.25 – 9.00% 1.25 – 7.25% 6.25 % 6.25 % 6.25 % Rate of compensation increase 2.50 – 8.00% 2.50 – 8.00% 2.50– 8.00% 1.75 – 5.00% — – 5.00% — – 5.00% N/A N/A N/A Weighted-average assumptions used to determine net periodic benefit cost for the year ended June 30: Discount rate 5.29 % 4.48 % 2.94 % 3.69 % 2.77 % 1.59 % 5.19 % 4.68 % 2.92 % Expected return on assets (1) 6.25 % 6.25 % 6.25 % 4.06 % 2.95 % 2.19 % 6.25 % 6.25 % 6.25 % Rate of compensation increase 2.50 – 8.00% 2.50 – 8.00% 2.50 – 8.00% 3.08 % 2.96 % 2.81 % N/A N/A N/A (1) The U.S. post-retirement benefit plan is the only post-retirement benefit plan with plan assets during fiscal 2024 and as such, the rates reflected here are the expected return on plan assets for the U.S. post-retirement plan.
Amounts recognized in AOCI (before tax)	Amounts recognized in AOCI (before tax) as of June 30, 2024 are as follows: Pension Plans Other than (In millions) U.S. International Post-retirement Total Net actuarial losses (gains), beginning of year $ 235 $ (7) $ 7 $ 235 Actuarial losses (gains) recognized 37 (4) (6) 27 Amortization and settlements included in net periodic benefit cost (4) 8 — 4 Translation adjustments — (1) — (1) Net actuarial losses (gains), end of year 268 (4) 1 265 Net prior service cost, beginning of year 2 (2) — — Amortization included in net periodic benefit cost (1) 1 3 3 Prior service cost recognized — — (25) (25) Net prior service cost, end of year 1 (1) (22) (22) Total amounts recognized in AOCI $ 269 $ (5) $ (21) $ 243
Projected benefit obligation, accumulated benefit obligation and fair value of plan assets for the company's pension plans	The projected benefit obligation, accumulated benefit obligation and fair value of plan assets for the Company’s pension plans at June 30 are as follows: Pension Plans Other than Pension Plans Retirement Growth Restoration International Post-retirement (In millions) 2024 2023 2024 2023 2024 2023 2024 2023 Projected benefit obligation $ 825 $ 807 $ 116 $ 105 $ 541 $ 522 $ 144 $ 176 Accumulated benefit obligation $ 800 $ 774 $ 108 $ 95 $ 484 $ 467 $ — $ — Fair value of plan assets $ 801 $ 753 $ — $ — $ 567 $ 541 $ — $ 2
Expected cash flows	The expected cash flows for the Company’s pension and post-retirement plans are as follows: Pension Plans Other than (In millions) U.S. International Post-retirement Expected employer contributions for year ending June 30, 2025 $ 65 $ 29 $ 13 Expected benefit payments for year ending June 30, 2025 89 40 13 2026 63 34 10 2027 62 33 10 2028 63 32 11 2029 65 33 11 Years 2030 – 2034 334 169 53
Target asset allocation	The Company’s target asset allocation at June 30, 2024 is as follows: Pension Plans U.S. International Equity 39 % 20 % Debt securities 50 % 58 % Other 11 % 22 % 100 % 100 %
Fair values of the company's pension and post-retirement plan assets by asset category	The following table presents the fair values of the Company’s pension and post-retirement plan assets by asset category as of June 30, 2024: (In millions) Level 1 Level 2 Level 3 Assets Total Cash and cash equivalents $ 2 $ — $ — $ — $ 2 Short-term investment funds — 28 — 3 31 Government and agency securities 137 — — — 137 Commingled funds 301 642 — 148 1,091 Insurance contracts — — 14 — 14 Interests in limited partnerships and hedge fund investments — — — 93 93 Total $ 440 $ 670 $ 14 $ 244 $ 1,368 The following table presents the fair values of the Company’s pension and post-retirement plan assets by asset category as of June 30, 2023: (In millions) Level 1 Level 2 Level 3 Assets Total Cash and cash equivalents $ 2 $ — $ — $ — $ 2 Short-term investment funds — 12 — 3 15 Government and agency securities — 139 — — 139 Commingled funds 332 547 — 143 1,022 Insurance contracts — — 8 — 8 Interests in limited partnerships and hedge fund investments — — — 110 110 Total $ 334 $ 698 $ 8 $ 256 $ 1,296
Changes in Level 3 plan assets	The following table presents the changes in Level 3 plan assets: June 30 (In millions) 2024 2023 Insurance Contracts Balance at beginning of year $ 8 $ 46 Actual return on plan assets: Relating to assets still held at the reporting date 1 (2) Purchases, sales, issuances and settlements, net 5 (35) Foreign exchange impact — (1) Balance at end of year $ 14 $ 8

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Summary of scheduled maturities of contractual obligations for which cash flows are fixed and determinable	The following table summarizes scheduled maturities of the Company’s contractual obligations for which cash flows are fixed and determinable as of June 30, 2024: Payments Due in Fiscal (In millions) Total 2025 2026 2027 2028 2029 Thereafter Debt service (1) $ 11,845 $ 794 $ 288 $ 788 $ 973 $ 242 $ 8,760 Unconditional purchase obligations (2) 2,370 1,463 373 317 98 21 98 Gross unrecognized tax benefits and interest – current (3) 2 2 — — — — — Transition Tax payable (4) 146 65 81 — — — — Total contractual obligations (5) $ 14,363 $ 2,324 $ 742 $ 1,105 $ 1,071 $ 263 $ 8,858 (1) Includes long-term and current debt and the related projected interest costs. Refer to Note 7 – Leases for information regarding future minimum lease payments relating to the Company’s finance leases. Interest costs on long-term and current debt in fiscal 2025, 2026, 2027, 2028, 2029 and thereafter are projected to be $293 million, $288 million, $288 million, $273 million, $242 million and $2,509 million, respectively. Projected interest costs on variable rate instruments were calculated using market rates at June 30, 2024. (2) Unconditional purchase obligations primarily include: inventory commitments, information technology contract commitments, deferred consideration, advertising commitments and royalty payments pursuant to license agreements. Future royalty and advertising commitments were estimated based on planned future sales for the term that was in effect at June 30, 2024, without consideration for potential renewal periods. (3) Refer to Note 9 – Income Taxes for information regarding unrecognized tax benefits. As of June 30, 2024, the noncurrent portion of the Company’s unrecognized tax benefits, including related accrued interest and penalties, was $80 million. At this time, the settlement period for the noncurrent portion of the unrecognized tax benefits, including related accrued interest and penalties, cannot be determined and therefore was not included. (4) The Transition Tax may be paid over an eight-year period and this amount represents the remaining liability as of June 30, 2024. (5) Refer to Note 7 – Leases for information regarding future minimum lease payments relating to the Company’s operating leases.

COMMON STOCK (Tables)

COMMON STOCK (Tables)	12 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Common stock outstanding	Information about the Company’s common stock outstanding is as follows: (Shares in thousands) Class A Class B Balance at June 30, 2021 233,517.4 128,242.0 Acquisition of treasury stock (1) (7,393.6) — Conversion of Class B to Class A 2,700.0 (2,700.0) Stock-based compensation 2,689.7 — Balance at June 30, 2022 231,513.5 125,542.0 Acquisition of treasury stock (1) (1,220.7) — Stock-based compensation 1,785.1 — Balance at June 30, 2023 232,077.9 125,542.0 Acquisition of treasury stock (1) (316.5) — Stock-based compensation 1,385.2 — Balance at June 30, 2024 233,146.6 125,542.0 (1) In fiscal 2022 and 2023, these amounts represent shares repurchased under our authorized share repurchase program, as well as shares repurchased to satisfy tax withholding obligations upon the payout of certain stock-based compensation arrangements. In fiscal 2024, these amounts represent shares that were repurchased by the Company to satisfy tax withholding obligations upon the payout of certain stock-based compensation arrangements.
Summary of cash dividends per share	The following is a summary of cash dividends declared per share on the Company’s Class A and Class B Common Stock during the year ended June 30, 2024: Date Declared Record Date Payable Date Amount per Share August 17, 2023 August 31, 2023 September 15, 2023 $ .66 October 31, 2023 November 30, 2023 December 15, 2023 $ .66 February 2, 2024 February 29, 2024 March 15, 2024 $ .66 April 30, 2024 May 31, 2024 June 17, 2024 $ .66

STOCK PROGRAMS (Tables)

STOCK PROGRAMS (Tables)	12 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of stock-based compensation expense	Total net stock-based compensation expense is attributable to the granting of and the remaining requisite service periods of stock options, RSUs, PSUs, long-term PSUs and share units. Compensation expense attributable to net stock-based compensation is as follows: Year Ended June 30 (In millions) 2024 2023 2022 Compensation expense (1) $ 325 $ 267 $ 331 Income tax benefit $ 58 $ 52 $ 51 (1) Excludes compensation expense relating to liability-classified awards, including DECIEM stock options discussed below.
Summary of stock option programs	The following is a summary of the status of the Company’s stock options as of June 30, 2024 and activity during the fiscal year then ended: (Shares in thousands) Shares Weighted- Aggregate Intrinsic Value (1) (in millions) Weighted-Average Outstanding at June 30, 2023 7,497.1 $ 184.41 Granted at fair value 1,780.6 155.92 Exercised (480.7) 81.57 Expired (161.3) 240.00 Forfeited (140.0) 199.73 Outstanding at June 30, 2024 8,495.7 182.95 $ 32 6.0 Vested and expected to vest at June 30, 2024 8,415.7 182.95 $ 32 6.0 Exercisable at June 30, 2024 5,842.7 175.76 $ 32 5.0 (1) The intrinsic value of a stock option is the amount by which the market value of the underlying stock exceeds the exercise price of the option. The following is a summary of the DECIEM stock option program as of June 30, 2024 and changes during the fiscal year then ended: (Shares in thousands) Shares Weighted- Outstanding at June 30, 2023 94.1 $ 58.48 Granted at fair value — — Exercised 94.1 56.65 Expired — — Forfeited — — Outstanding at June 30, 2024 — —
Summary of weighted-average grant date fair value and intrinsic value of stock options exercised	The following is a summary of the per-share weighted-average grant date fair value of stock options granted and total intrinsic value of stock options exercised: Year Ended June 30 (In millions, except per share data) 2024 2023 2022 Per-share weighted-average grant date fair value of stock options granted $ 52.83 $ 79.09 $ 85.56 Intrinsic value of stock options exercised $ 31 $ 93 $ 276
Schedule of fair value option-pricing assumptions	The fair value of each of the Company's option grants were estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions: Year Ended June 30 2024 2023 2022 Weighted-average expected stock-price volatility 33.8% 30.8% 27.3% Weighted-average expected option life 6 years 6 years 6 years Average risk-free interest rate 4.3% 3.4% 0.9% Average dividend yield 1.5% 0.8% 0.7% June 30, 2023 June 30, 2022 Risk-free rate 4.90% 3.20% Term to mid of last twelve-month period 0.46 years 1.42 years Operating leverage adjustment 0.45 0.45 Net sales discount rate 7.80% 6.00% EBITDA discount rate 11.30% 9.40% EBITDA volatility 32.00% 33.90% Net sales volatility 14.40% 15.30%
Summary of restricted stock units (RSUs)	The following is a summary of the status of the Company’s RSUs as of June 30, 2024 and activity during the fiscal year then ended: (Shares in thousands) Shares Weighted-Average Nonvested at June 30, 2023 1,789.9 $ 265.04 Granted 1,606.1 155.82 Dividend equivalents 45.0 200.19 Vested (1) (849.7) 262.76 Forfeited (148.8) 201.52 Nonvested at June 30, 2024 2,442.5 196.69 1) The total fair value of RSUs vested during fiscal 2024, 2023 and 2022 was $91.6 million, $155.5 million, and $307.4 million, respectively.
Summary of performance share units (PSUs)	The following is a summary of the status of the Company’s PSUs as of June 30, 2024 and activity during the fiscal year then ended: (Shares in thousands) Shares Weighted-Average Nonvested at June 30, 2023 365.2 $ 260.90 Granted 164.5 156.39 Vested and issued (1) (44.8) 218.12 Forfeited (111.0) 217.85 Nonvested at June 30, 2024 373.9 232.83 (1) The total fair value of PSUs vested and issued during fiscal 2024, 2023 and 2022 was $7.3 million, $66.6 million, and $108.9 million, respectively.
Schedule of long-term price vested units	The number of shares subject to each tranche of the price-vested unit award, as well as the stock price goals, service periods, performance periods and share delivery dates for each tranche are as follows: Number Stock Price Goal Service Period Performance Period for Stock Price Goal Performance Period for Cumulative Operating Income Goal Share Delivery Date First tranche 27,457 $ 323.03 March 11, 2021 - June 30, 2024 March 11, 2021 - June 30, 2024 July 1, 2021 - June 30, 2025 September 2, 2025 Second tranche 28,598 $ 333.21 March 11, 2021 - June 30, 2024 March 11, 2021 - June 30, 2024 July 1, 2021 - June 30, 2025 September 2, 2025 Third tranche 29,872 $ 343.61 March 11, 2021 - June 30, 2024 March 11, 2021 - June 30, 2024 July 1, 2021 - June 30, 2025 September 2, 2025 Total shares 85,927
Schedule of assumptions used for award	The significant assumptions used for this award were as follows: Expected volatility 31.8 % Dividend yield 0.8 % Risk-free interest rate 0.4 % Expected term 3.3 years
Summary of status of share units	The following is a summary of the status of the Company’s share units as of June 30, 2024 and activity during the fiscal year then ended: (Shares in thousands) Shares Weighted-Average Outstanding at June 30, 2023 112.7 $ 87.84 Granted 8.7 123.81 Dividend equivalents 2.2 139.11 Converted (1) (10.0) 105.78 Outstanding at June 30, 2024 113.6 90.02 (1)

CHANGES IN OWNERSHIP INTEREST_2

CHANGES IN OWNERSHIP INTEREST ON NET EARNINGS ATTRIBUTABLE TO THE ESTEE LAUDER COMPANIES INC. (Tables)	12 Months Ended
	Jun. 30, 2024
Temporary Equity Disclosure [Abstract]
Schedule of Changes in Ownership of Redeemable Noncontrolling Interest and Noncontrolling Interest on the Company's Equity	The following table summarizes the effects of changes in ownership of redeemable noncontrolling interest and noncontrolling interests on the Company's equity: Year Ended June 30 2024 2023 2022 Net earnings attributable to The Estée Lauder Companies Inc. $ 390 $ 1,006 $ 2,390 Transfers from redeemable noncontrolling interest: Increase in paid-in capital as a result of the purchase of shares from redeemable noncontrolling interest 162 — — Transfers from noncontrolling interests: Decrease in paid-in capital as a result of the purchase of shares from noncontrolling interests — — (19) Total effect of changes in ownership interest on equity attributable to The Estée Lauder Companies Inc. $ 552 $ 1,006 $ 2,371

NET EARNINGS ATTRIBUTABLE TO _2

NET EARNINGS ATTRIBUTABLE TO THE ESTEE LAUDER COMPANIES INC. PER COMMON SHARE (Tables)	12 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of reconciliation between the numerator and denominator of the basic and diluted EPS computations	A reconciliation between the numerator and denominator of the basic and diluted EPS computations is as follows: Year Ended June 30 (In millions, except per share data) 2024 2023 2022 Numerator: Net earnings attributable to The Estée Lauder Companies Inc. $ 390 $ 1,006 $ 2,390 Denominator: Weighted-average common shares outstanding – Basic 359.0 357.9 360.0 Effect of dilutive stock options 0.9 2.3 3.7 Effect of PSUs 0.2 0.1 0.2 Effect of RSUs 0.7 0.6 1.0 Weighted-average common shares outstanding – Diluted 360.8 360.9 364.9 Net earnings attributable to The Estée Lauder Companies Inc. per common share: Basic $ 1.09 $ 2.81 $ 6.64 Diluted $ 1.08 $ 2.79 $ 6.55
Schedule of antidilutive securities excluded from computation of earnings per share	The shares of Class A Common Stock underlying stock options, RSUs and PSUs that were excluded in the computation of diluted EPS because their inclusion would be anti-dilutive were as follows: Year Ended June 30 (In millions) 2024 2023 2022 Stock options 5.9 2.4 0.9 RSUs and PSUs 0.4 0.1 0.1

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	12 Months Ended
	Jun. 30, 2024
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Schedule of components of AOCI, net of tax	The components of AOCI included in the accompanying consolidated balance sheets consist of the following: Year Ended June 30 (In millions) 2024 2023 2022 Net derivative instruments, beginning of year $ 44 $ 68 $ (2) Gain on derivative instruments (1) 79 48 93 Provision for income taxes (18) (11) (21) Reclassification to earnings during the year: Foreign currency forward contracts (2) (50) (71) (3) Interest rate-related derivatives (3) — 1 1 Cross-currency swap contracts (1)(4) (19) (9) — Benefit for income taxes on reclassification (5) 16 18 — Net derivative instruments, end of year 52 44 68 Net pension and post-retirement adjustments, beginning of year (177) (114) (179) Changes in plan assets and benefit obligations: Net actuarial gains (losses) recognized (27) (79) 71 Prior service credit recognized 25 — (1) Translation adjustments 1 (1) — Benefit (provision) for income taxes — 17 (18) Amortization and settlements included in net periodic benefit cost (6) : Net actuarial gains (losses) (4) — 18 Net prior service cost (3) (1) (1) Settlements — 1 — Benefit (provision) for income taxes on reclassification (5) 2 — (4) Net pension and post-retirement adjustments, end of year (183) (177) (114) Cumulative translation adjustments, beginning of year (801) (716) (289) Translation adjustments (7) (129) (112) (409) Purchase of shares from redeemable noncontrolling interest (8) (73) — — Benefit (provision) for income taxes (6) 27 (18) Cumulative translation adjustments, end of year (1,009) (801) (716) Accumulated other comprehensive loss $ (1,140) $ (934) $ (762) (1) Includes the gain recognized in AOCI from cross-currency swap contracts which represents the amount excluded from effectiveness testing. (2) Amounts recorded in Net Sales in the accompanying consolidated statements of earnings. (3) Amounts recorded in Interest expense in the accompanying consolidated statements of earnings. (4) Amounts recorded in Selling, general and administrative in the accompanying consolidated statements of earnings. (5) Amounts recorded in Provision for income taxes in the accompanying consolidated statements of earnings. (6) Reclassification adjustments for pension and post-retirement plans is recorded in Other components of net periodic benefit cost in the accompanying consolidated statements of earnings. (7) See Note 13 – Derivative Financial Instruments for gains (losses) relating to net investment hedges. (8) Upon purchase of the remaining interest in DECIEM during the fourth quarter of fiscal 2024, the cumulative amount of translation adjustments were reallocated from redeemable noncontrolling interest back to the Company.

STATEMENT OF CASH FLOWS (Tables

STATEMENT OF CASH FLOWS (Tables)	12 Months Ended
	Jun. 30, 2024
Supplemental Cash Flow Elements [Abstract]
Supplemental cash flow information	Supplemental cash flow information is as follows: Year Ended June 30 (In millions) 2024 2023 2022 Cash: Cash paid during the year for interest $ 359 $ 235 $ 163 Cash paid during the year for income taxes $ 550 $ 665 $ 760 Non-cash investing and financing activities: Capitalized interest and asset retirement obligations incurred $ 5 $ 13 $ 6 Deferred consideration payable $ — $ 300 $ 38 Property, plant and equipment accrued but unpaid $ 42 $ 246 $ 106

SEGMENT DATA AND RELATED INFO_2

SEGMENT DATA AND RELATED INFORMATION (Tables)	12 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
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.
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

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Currency Translation and Transactions (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Currency Translation and Transactions
Unrealized translation gains (losses), net of tax	$ (135)	$ (85)	$ (427)
Net exchange gains (losses) on foreign currency transactions	$ 77	$ 57	$ (11)

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Cash and Cash Equivalents (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Cash and Cash Equivalents
Short-term time deposits	$ 926	$ 66

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Property, Plant and Equipment (Details)	Jun. 30, 2024
Minimum
Property, Plant and Equipment
Property, plant and equipment, useful life	3 years
Maximum
Property, Plant and Equipment
Property, plant and equipment, useful life	40 years

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Concentration of Credit Risk (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Concentration Risk [Line Items]
Net sales	$ 15,608	$ 15,910	$ 17,737
Accounts receivable, net	1,727	1,452
Largest Customer
Concentration Risk [Line Items]
Accounts receivable, net	$ 206	$ 49
Largest Customer | Accounts Receivable | Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk (as a percent)	12%	3%

SUMMARY OF SIGNIFICANT ACCOUN_7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Advertising and Promotion (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Product Information [Line Items]
Selling, general and administrative	$ 9,621	$ 9,575	$ 9,888
Advertising and Promotion
Product Information [Line Items]
Selling, general and administrative	$ 3,657	$ 3,711	$ 3,877

SUMMARY OF SIGNIFICANT ACCOUN_8

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Research and Development (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Product Information [Line Items]
Selling, general and administrative	$ 9,621	$ 9,575	$ 9,888
Research and Development
Product Information [Line Items]
Selling, general and administrative	$ 360	$ 344	$ 307

SUMMARY OF SIGNIFICANT ACCOUN_9

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Shipping and Handling (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Product Information [Line Items]
Selling, general and administrative	$ 9,621	$ 9,575	$ 9,888
Shipping and Handling
Product Information [Line Items]
Selling, general and administrative	$ 792	$ 838	$ 860

SUMMARY OF SIGNIFICANT ACCOU_10

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Licensing Arrangements (Details)	Jun. 30, 2024
Minimum
License Arrangements [Line Items]
License arrangements, useful life	3 years
License arrangements, useful life, available renewal term	2 years
Maximum
License Arrangements [Line Items]
License arrangements, useful life	10 years
License arrangements, useful life, available renewal term	26 years

SUMMARY OF SIGNIFICANT ACCOU_11

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Redeemable Noncontrolling Interest (Details) - DECIEM $ in Millions	May 31, 2024 USD ($)	May 18, 2021
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Additional interest purchased during period (as a percentage)	0.24
Settlement of redeemable noncontrolling interest	$ 743
Settlement of stock options	114
Transaction costs	$ 2
DECIEM
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Right to sell, period		3 years
Right to purchase, period		3 years

INVENTORY AND PROMOTIONAL MER_3

INVENTORY AND PROMOTIONAL MERCHANDISE (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 696	$ 876
Work in process	308	362
Finished goods	903	1,404
Promotional merchandise	268	337
Inventory and promotional merchandise	$ 2,175	$ 2,979

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Property, Plant and Equipment
Property, plant and equipment, gross	$ 7,166	$ 6,908
Less accumulated depreciation and amortization	(4,030)	(3,729)
Property, plant and equipment, net	3,136	3,179
Depreciation and amortization of property, plant and equipment	$ 663	577	$ 543
Minimum
Property, Plant and Equipment
Property, plant and equipment, useful life	3 years
Maximum
Property, Plant and Equipment
Property, plant and equipment, useful life	40 years
Land and improvements
Property, Plant and Equipment
Property, plant and equipment, gross	$ 68	70
Buildings and improvements
Property, Plant and Equipment
Property, plant and equipment, gross	$ 929	843
Buildings and improvements | Minimum
Property, Plant and Equipment
Property, plant and equipment, useful life	10 years
Buildings and improvements | Maximum
Property, Plant and Equipment
Property, plant and equipment, useful life	40 years
Machinery and equipment
Property, Plant and Equipment
Property, plant and equipment, gross	$ 1,253	1,071
Machinery and equipment | Minimum
Property, Plant and Equipment
Property, plant and equipment, useful life	3 years
Machinery and equipment | Maximum
Property, Plant and Equipment
Property, plant and equipment, useful life	10 years
Computer hardware and software
Property, Plant and Equipment
Property, plant and equipment, gross	$ 1,861	1,651
Computer hardware and software | Minimum
Property, Plant and Equipment
Property, plant and equipment, useful life	4 years
Computer hardware and software | Maximum
Property, Plant and Equipment
Property, plant and equipment, useful life	10 years
Furniture and fixtures
Property, Plant and Equipment
Property, plant and equipment, gross	$ 137	136
Furniture and fixtures | Minimum
Property, Plant and Equipment
Property, plant and equipment, useful life	5 years
Furniture and fixtures | Maximum
Property, Plant and Equipment
Property, plant and equipment, useful life	10 years
Leasehold improvements
Property, Plant and Equipment
Property, plant and equipment, gross	$ 2,418	2,310
Construction in progress
Property, Plant and Equipment
Property, plant and equipment, gross	$ 500	$ 827
Land Improvements
Property, Plant and Equipment
Property, plant and equipment, useful life	10 years

ASSET ACQUISITION - Narrative (

ASSET ACQUISITION - Narrative (Details) - USD ($) $ in Millions		12 Months Ended
	Apr. 28, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Business Acquisition [Line Items]
Deferred consideration		$ 0	$ 300	$ 38
Tom Ford
Business Acquisition [Line Items]
Equity interests acquired	100%
Payments for asset acquisition	$ 2,550
Total costs of the asset acquisition	2,578
Transaction costs	28
Deferred consideration	300
Tom Ford | Deferred Consideration, Due July 2025
Business Acquisition [Line Items]
Deferred consideration	150
Tom Ford | Deferred Consideration, Due July 2026
Business Acquisition [Line Items]
Deferred consideration	$ 150

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS - Goodwill (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Changes in goodwill
Goodwill, gross, beginning balance	$ 3,387	$ 3,420
Accumulated impairments, beginning balance	(901)	(899)
Goodwill, beginning balance	2,486	2,521
Goodwill impairment	291	0	$ 0
Translation adjustments, goodwill	(53)	(33)
Translation adjustments, accumulated impairments	1	(2)
Goodwill, period increase (decrease)	(343)	(35)
Goodwill, gross, ending balance	3,334	3,387	3,420
Accumulated impairments, ending balance	(1,191)	(901)	(899)
Goodwill, ending balance	2,143	2,486	2,521
Skin Care
Changes in goodwill
Goodwill, gross, beginning balance	1,664	1,702
Accumulated impairments, beginning balance	(139)	(138)
Goodwill, beginning balance	1,525	1,564
Goodwill impairment	291
Translation adjustments, goodwill	(52)	(38)
Translation adjustments, accumulated impairments	1	(1)
Goodwill, period increase (decrease)	(342)	(39)
Goodwill, gross, ending balance	1,612	1,664	1,702
Accumulated impairments, ending balance	(429)	(139)	(138)
Goodwill, ending balance	1,183	1,525	1,564
Makeup
Changes in goodwill
Goodwill, gross, beginning balance	1,116	1,116
Accumulated impairments, beginning balance	(732)	(732)
Goodwill, beginning balance	384	384
Goodwill impairment	0
Translation adjustments, goodwill	0	0
Translation adjustments, accumulated impairments	0	0
Goodwill, period increase (decrease)	0	0
Goodwill, gross, ending balance	1,116	1,116	1,116
Accumulated impairments, ending balance	(732)	(732)	(732)
Goodwill, ending balance	384	384	384
Fragrance
Changes in goodwill
Goodwill, gross, beginning balance	254	249
Accumulated impairments, beginning balance	(30)	(29)
Goodwill, beginning balance	224	220
Goodwill impairment	0
Translation adjustments, goodwill	(1)	5
Translation adjustments, accumulated impairments	0	(1)
Goodwill, period increase (decrease)	(1)	4
Goodwill, gross, ending balance	253	254	249
Accumulated impairments, ending balance	(30)	(30)	(29)
Goodwill, ending balance	223	224	220
Hair Care
Changes in goodwill
Goodwill, gross, beginning balance	353	353
Accumulated impairments, beginning balance	0	0
Goodwill, beginning balance	353	353
Goodwill impairment	0
Translation adjustments, goodwill	0	0
Translation adjustments, accumulated impairments	0	0
Goodwill, period increase (decrease)	0	0
Goodwill, gross, ending balance	353	353	353
Accumulated impairments, ending balance	0	0	0
Goodwill, ending balance	$ 353	$ 353	$ 353

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS - Narrative (Details) - USD ($)	1 Months Ended	3 Months Ended				9 Months Ended	12 Months Ended
	Apr. 30, 2023	Jun. 30, 2024	Dec. 31, 2022	Jun. 30, 2022	Mar. 31, 2022	Mar. 31, 2022	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Goodwill and Other Intangible Assets
Amortization of intangible assets							$ 144,000,000	$ 145,000,000	$ 160,000,000
Goodwill impairment							291,000,000	0	0
Goodwill		$ 2,143,000,000		$ 2,521,000,000			2,143,000,000	2,486,000,000	2,521,000,000
Tom Ford
Goodwill and Other Intangible Assets
Indefinite-lived intangible assets acquired	$ 2,578,000,000
Skin Care
Goodwill and Other Intangible Assets
Goodwill impairment							291,000,000
Goodwill		1,183,000,000		1,564,000,000			1,183,000,000	1,525,000,000	1,564,000,000
Makeup
Goodwill and Other Intangible Assets
Goodwill impairment							0
Goodwill		384,000,000		384,000,000			384,000,000	384,000,000	384,000,000
Smashbox | Makeup | The Americas
Goodwill and Other Intangible Assets
Trademarks, impairment charges								21,000,000
Goodwill impairment								0
Goodwill								0
GLAMGLOW | Skin Care | The Americas
Goodwill and Other Intangible Assets
Trademarks, impairment charges				0					11,000,000
Too Faced | Makeup | The Americas
Goodwill and Other Intangible Assets
Trademarks, impairment charges								86,000,000
Goodwill impairment								0
Goodwill								13,000,000
Dr. Jart+ | Skin Care | Asia/Pacific
Goodwill and Other Intangible Assets
Trademarks, impairment charges				25,000,000			180,000,000	100,000,000	230,000,000
Goodwill impairment		291,000,000					291,000,000	0
Goodwill		$ 0					$ 0	304,000,000
Dr. Jart+ | Skin Care | Asia/Pacific | Goodwill
Goodwill and Other Intangible Assets
Weighted-average cost of capital used to estimate fair value (as a percent)		10.50%					10.50%
Trademarks
Goodwill and Other Intangible Assets
Carrying value		$ 4,107,000,000					$ 4,107,000,000	4,338,000,000
Trademarks | Smashbox | Makeup | The Americas
Goodwill and Other Intangible Assets
Trademarks, impairment charges			$ 21,000,000					21,000,000
Carrying value			0					0
Trademarks | GLAMGLOW | Skin Care | The Americas
Goodwill and Other Intangible Assets
Trademarks, impairment charges					$ 11,000,000				11,000,000
Carrying value				$ 0	$ 0	$ 0			$ 0
Trademarks | Too Faced | Makeup | The Americas
Goodwill and Other Intangible Assets
Trademarks, impairment charges			$ 86,000,000					$ 86,000,000
Fair value in excess of carrying value					13%	13%
Increase in weighted average cost of capital resulting in impairment charge (as a percent)					1%	1%
Weighted-average cost of capital used to estimate fair value (as a percent)			13%					13%
Trademarks | DECIEM | Skin Care | The Americas
Goodwill and Other Intangible Assets
Fair value in excess of carrying value					3%	3%
Increase in weighted average cost of capital resulting in impairment charge (as a percent)					0.50%	0.50%
Trademarks | Dr. Jart+ | Skin Care | Asia/Pacific
Goodwill and Other Intangible Assets
Trademarks, impairment charges		$ 180,000,000	$ 100,000,000				$ 180,000,000	$ 100,000,000
Weighted-average cost of capital used to estimate fair value (as a percent)		10.50%	11%	10.50%	10.50%		10.50%	11%
Other | Minimum
Goodwill and Other Intangible Assets
Other intangible asset useful life (in years)		7 years					7 years
Other | Maximum
Goodwill and Other Intangible Assets
Other intangible asset useful life (in years)		18 years					18 years
Trademarks | Dr. Jart+ | Skin Care | Asia/Pacific
Goodwill and Other Intangible Assets
Trademarks, impairment charges				$ 25,000,000	$ 205,000,000

GOODWILL AND OTHER INTANGIBLE_5

GOODWILL AND OTHER INTANGIBLE ASSETS - Other Intangible Assets (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Intangible assets
Total intangible assets	$ 5,183	$ 5,602
Estimated aggregate amortization expense
2025	141
2026	141
2027	124
2028	99
2029	98
Trademarks
Intangible assets
Trademarks	4,107	4,338
Customer lists and other
Amortizable intangible assets:
Gross Carrying Value	1,971	2,030
Accumulated Amortization	895	766
Total Net Book Value	$ 1,076	$ 1,264

GOODWILL AND OTHER INTANGIBLE_6

GOODWILL AND OTHER INTANGIBLE ASSETS - Impairment (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2022	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Intangible assets and goodwill
Goodwill impairment			$ 291	$ 0	$ 0
Goodwill	$ 2,143	$ 2,521	2,143	2,486	$ 2,521
Impairment, Intangible Asset, Indefinite-Lived (Excluding Goodwill), Statement of Income or Comprehensive Income [Extensible Enumeration]					Impairment of other intangible assets
Skin Care
Intangible assets and goodwill
Goodwill impairment			291
Goodwill	1,183	1,564	1,183	1,525	$ 1,564
Makeup
Intangible assets and goodwill
Goodwill impairment			0
Goodwill	384	384	384	384	384
Smashbox | Makeup | The Americas
Intangible assets and goodwill
Impairment, Trademark				21
Goodwill impairment				0
Carrying Value, Trademark				0
Goodwill				0
Dr. Jart+ | Skin Care | Asia/Pacific
Intangible assets and goodwill
Impairment, Trademark		25	180	100	230
Goodwill impairment	291		291	0
Carrying Value, Trademark	129	428	129	325	428
Goodwill	$ 0		$ 0	304
Too Faced | Makeup | The Americas
Intangible assets and goodwill
Impairment, Trademark				86
Goodwill impairment				0
Carrying Value, Trademark				186
Goodwill				13
Smashbox, Dr. Jart+ and Too Faced
Intangible assets and goodwill
Impairment, Trademark				207
Goodwill impairment				0
Carrying Value, Trademark				511
Goodwill				$ 317
GLAMGLOW | Skin Care | The Americas
Intangible assets and goodwill
Impairment, Trademark		0			11
Carrying Value, Trademark		0			0
GLAMGLOW and Dr. Jart+ | Skin Care
Intangible assets and goodwill
Impairment, Trademark		25			241
Carrying Value, Trademark		$ 428			$ 428

LEASES - General (Details)

LEASES - General (Details)	12 Months Ended
	Jun. 30, 2024
Lessee, Lease, Description [Line Items]
Lease renewal term	30 years
Lease termination period	25 years
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	56 years

LEASES - Total Lease Costs and

LEASES - Total Lease Costs and Other Information (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Finance lease cost:
Amortization of right-of-use assets	$ 11	$ 11	$ 12
Interest on lease liabilities	0	0	0
Operating lease cost	458	444	465
Short-term lease cost	45	41	24
Variable lease cost	227	213	332
Total	741	709	833
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	489	463	506
Financing cash flows from finance leases	10	15	18
Right-of-use assets obtained in exchange for new operating lease liabilities	466	273	279
Right-of-use assets obtained in exchange for new finance lease liabilities	$ 1	$ 34	$ 10
Weighted-average remaining lease term – finance leases	16 years	14 years	3 years
Weighted-average remaining lease term – operating leases	9 years	9 years	9 years
Weighted-average discount rate – finance leases	0.30%	0.40%	1%
Weighted-average discount rate – operating leases	2.80%	2.50%	2.40%

LEASES - Future Minimum Lease P

LEASES - Future Minimum Lease Payments (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Operating Leases
Fiscal 2025	$ 406
Fiscal 2026	374
Fiscal 2027	303
Fiscal 2028	225
Fiscal 2029	167
Thereafter	841
Total future minimum lease payments	2,316
Less imputed interest	(261)
Total	2,055	$ 2,055
Finance Leases
Fiscal 2025	4
Fiscal 2026	3
Fiscal 2027	2
Fiscal 2028	2
Fiscal 2029	1
Thereafter	20
Total future minimum lease payments	32
Less imputed interest	0
Total	$ 32	$ 42

LEASES - Operating Lease and Fi

LEASES - Operating Lease and Finance Lease Liabilities included in the Consolidated Balance Sheet (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Operating Leases
Total current liabilities	$ 354	$ 357
Total noncurrent liabilities	1,701	1,698
Total	2,055	2,055
Finance Leases
Total current liabilities	4	9
Total noncurrent liabilities	28	33
Total	$ 32	$ 42
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other assets	Other assets
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Current debt	Current debt
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Long-term debt	Long-term debt

CHARGES ASSOCIATED WITH RESTR_3

CHARGES ASSOCIATED WITH RESTRUCTURING AND OTHER ACTIVITIES - Restructuring and Other Charges (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Restructuring and Other Costs
Charges	$ 124	$ 85	$ 144
Restructuring Program
Restructuring and Other Costs
Charges	115
PCBA
Restructuring and Other Costs
Charges	10	77	127	$ 221
Restructuring Program And PCBA
Restructuring and Other Costs
Charges	125
Sales Returns (included in Net Sales)
Restructuring and Other Costs
Charges	1	27	4
Sales Returns (included in Net Sales) | Restructuring Program
Restructuring and Other Costs
Charges	0
Sales Returns (included in Net Sales) | PCBA
Restructuring and Other Costs
Charges	1	27	4	14
Sales Returns (included in Net Sales) | Restructuring Program And PCBA
Restructuring and Other Costs
Charges	1
Cost of Sales | Restructuring Program
Restructuring and Other Costs
Charges	0
Cost of Sales | PCBA
Restructuring and Other Costs
Charges	1	3	5	2
Cost of Sales | Restructuring Program And PCBA
Restructuring and Other Costs
Charges	1
Restructuring Charges | Restructuring Program
Restructuring and Other Costs
Charges	92
Restructuring Charges | PCBA
Restructuring and Other Costs
Charges	1	35	109	201
Restructuring Charges | Restructuring Program And PCBA
Restructuring and Other Costs
Charges	93
Restructuring Charges | Employee- Related Costs | Restructuring Program
Restructuring and Other Costs
Charges	90
Restructuring Charges | Employee- Related Costs | PCBA
Restructuring and Other Costs
Charges	(4)	3	84	119
Restructuring Charges | Asset- Related Costs | Restructuring Program
Restructuring and Other Costs
Charges	2
Restructuring Charges | Asset- Related Costs | PCBA
Restructuring and Other Costs
Charges	4	31	11	75
Restructuring Charges | Contract Terminations | Restructuring Program
Restructuring and Other Costs
Charges	0
Restructuring Charges | Contract Terminations | PCBA
Restructuring and Other Costs
Charges	1	(2)	13	6
Restructuring Charges | Other Exit Costs | Restructuring Program
Restructuring and Other Costs
Charges	0
Restructuring Charges | Other Exit Costs | PCBA
Restructuring and Other Costs
Charges	0	3	1	1
Other Charges | Restructuring Program
Restructuring and Other Costs
Charges	23
Other Charges | PCBA
Restructuring and Other Costs
Charges	7	$ 12	$ 9	$ 4
Other Charges | Restructuring Program And PCBA
Restructuring and Other Costs
Charges	$ 30

CHARGES ASSOCIATED WITH RESTR_4

CHARGES ASSOCIATED WITH RESTRUCTURING AND OTHER ACTIVITIES - Narrative (Details) $ in Millions		5 Months Ended	12 Months Ended				46 Months Ended
	Feb. 05, 2024 USD ($)	Jun. 30, 2024 USD ($) position	Jun. 30, 2027 USD ($)	Jun. 30, 2026 USD ($)	Jun. 30, 2025 USD ($)	Jun. 30, 2023	Jun. 30, 2024 USD ($) position
Restructuring Program
Restructuring and Other Costs
Restructuring program, period	2 years
Restructuring and related costs, expected costs		$ 187					$ 187
Cumulative through June 30, 2024		115					115
Restructuring Program | Forecast
Restructuring and Other Costs
Accrued restructuring charges expected to result in cash expenditures funded from cash provided by operations			$ 5	$ 24	$ 59
Restructuring Program | Restructuring Charges
Restructuring and Other Costs
Restructuring and related costs, expected costs		109					109
Cumulative through June 30, 2024		92					92
Restructuring Program | Restructuring Charges | Asset- Related Costs
Restructuring and Other Costs
Restructuring and related costs, expected costs		7					7
Cumulative through June 30, 2024		$ 2					$ 2
Restructuring Program | Minimum
Restructuring and Other Costs
Net reduction in global positions, expected | position		1,800
Net reduction of current workforce (as a percent)						3%
Restructuring and related costs, expected costs	$ 500
Restructuring Program | Maximum
Restructuring and Other Costs
Net reduction in global positions, expected | position		3,000
Net reduction of current workforce (as a percent)						5%
Restructuring and related costs, expected costs	$ 700
PCBA
Restructuring and Other Costs
Net reduction in global positions | position							2,800
Closure of freestanding stores (as a percent)							16%
Cumulative through June 30, 2024		$ 435					$ 435
PCBA | Forecast
Restructuring and Other Costs
Accrued restructuring charges expected to result in cash expenditures funded from cash provided by operations				$ 3	$ 25
PCBA | Restructuring Charges
Restructuring and Other Costs
Cumulative through June 30, 2024		346					346
PCBA | Restructuring Charges | Asset- Related Costs
Restructuring and Other Costs
Cumulative through June 30, 2024		$ 121					$ 121

CHARGES ASSOCIATED WITH RESTR_5

CHARGES ASSOCIATED WITH RESTRUCTURING AND OTHER ACTIVITIES - Restructuring Approved Costs (Details) - Restructuring Program - USD ($) $ in Millions	1 Months Ended
	Jul. 19, 2024	Jun. 30, 2024
Restructuring and Other Costs
Cumulative approved charges		$ 187
Subsequent Event
Restructuring and Other Costs
Cumulative approved charges	$ 233
July 1 - July 19, 2024 approved charges	46
Sales Returns (included in Net Sales)
Restructuring and Other Costs
Cumulative approved charges		0
Sales Returns (included in Net Sales) | Subsequent Event
Restructuring and Other Costs
Cumulative approved charges	1
July 1 - July 19, 2024 approved charges	1
Cost of Sales
Restructuring and Other Costs
Cumulative approved charges		0
Cost of Sales | Subsequent Event
Restructuring and Other Costs
Cumulative approved charges	9
July 1 - July 19, 2024 approved charges	9
Restructuring Charges
Restructuring and Other Costs
Cumulative approved charges		109
Restructuring Charges | Employee- Related Costs
Restructuring and Other Costs
Cumulative approved charges		93
Restructuring Charges | Asset- Related Costs
Restructuring and Other Costs
Cumulative approved charges		7
Restructuring Charges | Contract Terminations
Restructuring and Other Costs
Cumulative approved charges		0
Restructuring Charges | Other Exit Costs
Restructuring and Other Costs
Cumulative approved charges		9
Restructuring Charges | Subsequent Event
Restructuring and Other Costs
Cumulative approved charges	133
July 1 - July 19, 2024 approved charges	24
Restructuring Charges | Subsequent Event | Employee- Related Costs
Restructuring and Other Costs
Cumulative approved charges	116
July 1 - July 19, 2024 approved charges	23
Restructuring Charges | Subsequent Event | Asset- Related Costs
Restructuring and Other Costs
Cumulative approved charges	7
July 1 - July 19, 2024 approved charges	0
Restructuring Charges | Subsequent Event | Contract Terminations
Restructuring and Other Costs
Cumulative approved charges	0
July 1 - July 19, 2024 approved charges	0
Restructuring Charges | Subsequent Event | Other Exit Costs
Restructuring and Other Costs
Cumulative approved charges	10
July 1 - July 19, 2024 approved charges	1
Other Charges
Restructuring and Other Costs
Cumulative approved charges		$ 78
Other Charges | Subsequent Event
Restructuring and Other Costs
Cumulative approved charges	90
July 1 - July 19, 2024 approved charges	$ 12

CHARGES ASSOCIATED WITH RESTR_6

CHARGES ASSOCIATED WITH RESTRUCTURING AND OTHER ACTIVITIES - Cumulative Restructuring Charges (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Restructuring and Other Costs
Restructuring and other charges	$ 124	$ 85	$ 144
Sales Returns (included in Net Sales)
Restructuring and Other Costs
Restructuring and other charges	1	27	4
Restructuring Program
Restructuring and Other Costs
Restructuring and other charges	115
Cumulative through June 30, 2024	115
Restructuring Program | Sales Returns (included in Net Sales)
Restructuring and Other Costs
Restructuring and other charges	0
Cumulative through June 30, 2024	0
Restructuring Program | Cost of Sales
Restructuring and Other Costs
Restructuring and other charges	0
Cumulative through June 30, 2024	0
Restructuring Program | Restructuring Charges
Restructuring and Other Costs
Restructuring and other charges	92
Cumulative through June 30, 2024	92
Restructuring Program | Restructuring Charges | Employee- Related Costs
Restructuring and Other Costs
Restructuring and other charges	90
Cumulative through June 30, 2024	90
Restructuring Program | Restructuring Charges | Asset- Related Costs
Restructuring and Other Costs
Restructuring and other charges	2
Cumulative through June 30, 2024	2
Restructuring Program | Restructuring Charges | Contract Terminations
Restructuring and Other Costs
Restructuring and other charges	0
Cumulative through June 30, 2024	0
Restructuring Program | Restructuring Charges | Other Exit Costs
Restructuring and Other Costs
Restructuring and other charges	0
Cumulative through June 30, 2024	0
Restructuring Program | Other Charges
Restructuring and Other Costs
Restructuring and other charges	23
Cumulative through June 30, 2024	23
PCBA
Restructuring and Other Costs
Restructuring and other charges	10	77	127	$ 221
Cumulative through June 30, 2024	435
PCBA | Sales Returns (included in Net Sales)
Restructuring and Other Costs
Restructuring and other charges	1	27	4	14
Cumulative through June 30, 2024	46
PCBA | Cost of Sales
Restructuring and Other Costs
Restructuring and other charges	1	3	5	2
Cumulative through June 30, 2024	11
PCBA | Restructuring Charges
Restructuring and Other Costs
Restructuring and other charges	1	35	109	201
Cumulative through June 30, 2024	346
PCBA | Restructuring Charges | Employee- Related Costs
Restructuring and Other Costs
Restructuring and other charges	(4)	3	84	119
Cumulative through June 30, 2024	202
PCBA | Restructuring Charges | Asset- Related Costs
Restructuring and Other Costs
Restructuring and other charges	4	31	11	75
Cumulative through June 30, 2024	121
PCBA | Restructuring Charges | Impairment In Value Of Assets, Goodwill | BECCA
Restructuring and Other Costs
Restructuring and other charges				13
PCBA | Restructuring Charges | Impairment In Value Of Assets, Other Intangible Assets | BECCA
Restructuring and Other Costs
Restructuring and other charges				34
PCBA | Restructuring Charges | Contract Terminations
Restructuring and Other Costs
Restructuring and other charges	1	(2)	13	6
Cumulative through June 30, 2024	18
PCBA | Restructuring Charges | Other Exit Costs
Restructuring and Other Costs
Restructuring and other charges	0	3	1	1
Cumulative through June 30, 2024	5
PCBA | Other Charges
Restructuring and Other Costs
Restructuring and other charges	7	$ 12	$ 9	$ 4
Cumulative through June 30, 2024	$ 32

CHARGES ASSOCIATED WITH RESTR_7

CHARGES ASSOCIATED WITH RESTRUCTURING AND OTHER ACTIVITIES - Accrued Restructuring Charges (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Restructuring and Other Costs
Charges	$ 124	$ 85	$ 144
Restructuring Program
Restructuring and Other Costs
Charges	115
Restructuring Program | Restructuring Charges
Restructuring and Other Costs
Charges	92
Cash payments	0
Non-cash asset write-offs	(2)
Translation and other adjustments	(2)
Accrued restructuring balance	88
Restructuring Program | Employee- Related Costs | Restructuring Charges
Restructuring and Other Costs
Charges	90
Cash payments	0
Non-cash asset write-offs	0
Translation and other adjustments	(2)
Accrued restructuring balance	88
Restructuring Program | Asset- Related Costs | Restructuring Charges
Restructuring and Other Costs
Charges	2
Cash payments	0
Non-cash asset write-offs	(2)
Translation and other adjustments	0
Accrued restructuring balance	0
Restructuring Program | Contract Terminations | Restructuring Charges
Restructuring and Other Costs
Charges	0
Cash payments	0
Non-cash asset write-offs	0
Translation and other adjustments	0
Accrued restructuring balance	0
Restructuring Program | Other Exit Costs | Restructuring Charges
Restructuring and Other Costs
Charges	0
Cash payments	0
Non-cash asset write-offs	0
Translation and other adjustments	0
Accrued restructuring balance	0
PCBA
Restructuring and Other Costs
Charges	10	77	127	$ 221
PCBA | Restructuring Charges
Restructuring and Other Costs
Charges	1	35	109	201
Cash payments	(50)	(44)	(64)	(25)
Non-cash asset write-offs	(4)	(31)	(11)	(75)
Translation and other adjustments	(1)	(3)	(10)
Accrued restructuring balance	28	82	125	101
PCBA | Employee- Related Costs | Restructuring Charges
Restructuring and Other Costs
Charges	(4)	3	84	119
Cash payments	(49)	(40)	(52)	(18)
Non-cash asset write-offs	0	0	0	0
Translation and other adjustments	0	(7)	(8)
Accrued restructuring balance	28	81	125	101
PCBA | Asset- Related Costs | Restructuring Charges
Restructuring and Other Costs
Charges	4	31	11	75
Cash payments	0	0	0	0
Non-cash asset write-offs	(4)	(31)	(11)	(75)
Translation and other adjustments	0	0	0
Accrued restructuring balance	0	0	0	0
PCBA | Contract Terminations | Restructuring Charges
Restructuring and Other Costs
Charges	1	(2)	13	6
Cash payments	(1)	(1)	(13)	(6)
Non-cash asset write-offs	0	0		0
Translation and other adjustments	(1)	4	0
Accrued restructuring balance	0	1	0	0
PCBA | Other Exit Costs | Restructuring Charges
Restructuring and Other Costs
Charges	0	3	1	1
Cash payments	0	(3)	1	(1)
Non-cash asset write-offs	0	0		0
Translation and other adjustments	0	0	(2)
Accrued restructuring balance	$ 0	$ 0	$ 0	$ 0

INCOME TAXES - Provision for In

INCOME TAXES - Provision for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Current:
Federal	$ 185	$ 141	$ 219
Foreign	426	424	533
State and local	17	8	25
Total	628	573	777
Deferred:
Federal	(147)	(105)	(12)
Foreign	(111)	(77)	(136)
State and local	(7)	(4)	(1)
Total	(265)	(186)	(149)
Provision for income taxes	$ 363	$ 387	$ 628

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Income Tax Contingency [Line Items]
Amounts contributed by foreign operations	$ 1,347	$ 1,818	$ 2,248
Expense (benefit) for income taxes	23	(11)	(82)
Undistributed earnings of foreign subsidiaries	5,038
Undistributed earnings of foreign subsidiaries considered permanently reinvested	1,000
Undistributed earnings of foreign subsidiaries, if repatriated, tax	70
Undistributed earnings of foreign aubsidiaries, no longer expected to be permanently reinvested		5,548
Net deferred tax assets	499	240
Foreign net operating loss carryforwards	657	528
Foreign net operating loss carryforwards, tax effect	170	143
U.S. Federal tax credit carryforwards	180	79
State and local tax credit carryforwards	8	8
Portion of net operating loss carryforwards with indefinite carryforward period	447
Valuation allowance for deferred tax assets	238	200
Gross unrecognized tax benefits	65	63	61	$ 62
Total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate	55
Gross interest and penalty accrued	3	2	$ 4
Total gross accrued interest and penalties related to unrecognized tax benefits	17	15
Other Noncurrent Assets
Income Tax Contingency [Line Items]
Net deferred tax assets	1,018	860
Other Noncurrent Liabilities
Income Tax Contingency [Line Items]
Net deferred tax assets	$ 519	$ 620

INCOME TAXES - Effective Income

INCOME TAXES - Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Provision for income taxes at statutory rate	21%	21%	21%
Increase (decrease) due to:
State and local income taxes, net of federal tax benefit	1.10%	0.30%	0.70%
Stock-based compensation arrangements – excess tax expense (benefits), net	3%	(0.80%)	(2.70%)
Taxation of foreign operations	15.90%	8.60%	1.40%
Income tax reserve adjustments	(0.40%)	(0.10%)	0.30%
Nondeductible goodwill impairment charges	7.90%	0%	0%
U.S. research and development tax credit	(2.20%)	(0.90%)	(0.30%)
Other, net	0.70%	(0.40%)	0.30%
Effective tax rate	47%	27.70%	20.70%

INCOME TAXES - Significant Comp

INCOME TAXES - Significant Components of Deferred Income Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Deferred tax assets:
Compensation-related expenses	$ 198	$ 189
Inventory obsolescence and other inventory related reserves	103	75
Retirement benefit obligations	45	60
Various accruals not currently deductible	228	225
Net operating loss, credit and other carryforwards	405	225
Unrecognized state tax benefits and accrued interest	13	12
Lease liabilities	462	479
Research-related expenses	248	200
Other differences between tax and financial statement values	103	107
Deferred tax assets, gross	1,805	1,572
Valuation allowance for deferred tax assets	(238)	(200)
Total deferred tax assets	1,567	1,372
Deferred tax liabilities:
Fixed assets and intangibles	(614)	(264)
ROU assets	(422)	(432)
Partnership interest in DECIEM	0	(404)
Other differences between tax and financial statement values	(32)	(32)
Total deferred tax liabilities	(1,068)	(1,132)
Total net deferred tax assets	$ 499	$ 240

INCOME TAXES - Unrecognized Tax

INCOME TAXES - Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Reconciliation of the beginning and ending amount of gross unrecognized tax benefits [Roll Forward]
Beginning of the year balance of gross unrecognized tax benefits	$ 63	$ 61	$ 62
Gross amounts of increases as a result of tax positions taken during a prior period	4	9	12
Gross amounts of decreases as a result of tax positions taken during a prior period	(4)	(5)	(6)
Gross amounts of increases as a result of tax positions taken during the current period	5	4	7
Amounts of decreases in unrecognized tax benefits relating to settlements with taxing authorities	(1)	(4)	(12)
Reductions to unrecognized tax benefits as a result of a lapse of the applicable statutes of limitations	(2)	(2)	(2)
End of year balance of gross unrecognized tax benefits	$ 65	$ 63	$ 61

SUPPLIER FINANCE PROGRAMS (Deta

SUPPLIER FINANCE PROGRAMS (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Supplier Finance Program [Line Items]
Supplier finance program, payment timing period	90 days
Outstanding obligation	$ 58	$ 52
Supplier Finance Program, Obligation, Current, Statement of Financial Position [Extensible Enumeration]	Accounts payable	Accounts payable
Minimum
Supplier Finance Program [Line Items]
Supplier finance, agreement termination period	30 days
Maximum
Supplier Finance Program [Line Items]
Supplier finance, agreement termination period	60 days

OTHER ACCRUED AND NONCURRENT _3

OTHER ACCRUED AND NONCURRENT LIABILITIES - Schedule of Other Accrued Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Other Liabilities Disclosure [Abstract]
Employee compensation	$ 576	$ 546
Accrued sales incentives	426	321
Deferred revenue	327	323
Payroll and other non-income taxes	333	297
Accrued income taxes	335	222
Other	1,407	1,507
Total Other Accrued Liabilities	$ 3,404	$ 3,216

DEBT (Details)

DEBT (Details) - USD ($)		1 Months Ended					2 Months Ended		4 Months Ended	12 Months Ended
	Aug. 15, 2022	Sep. 30, 2022	Mar. 31, 2020	Nov. 30, 2016	Apr. 30, 2007	May 31, 2003	May 31, 2019	May 31, 2015	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022	Feb. 29, 2024	May 31, 2023	Jan. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Oct. 31, 2021	May 31, 2016
Current and long-term debt and available financing
Current and long-term debt										$ 7,771,000,000	$ 8,114,000,000
Less current debt including current maturities										(504,000,000)	(997,000,000)
Long-term debt, excluding current maturities										7,267,000,000	7,117,000,000
Available financing, committed										2,500,000,000
Available financing, uncommitted										2,655,000,000
Commercial paper, outstanding											1,000,000,000
Gain (loss) on derivative instruments recognized in other comprehensive income										48,000,000	24,000,000
Cash payment received on settlement of derivative										18,000,000	0	$ 0
Commercial paper program															$ 4,500,000,000	$ 2,500,000,000
Commercial paper
Current and long-term debt and available financing
Unamortized discount											12,000,000
Commercial paper											2,500,000,000
Revolving credit facility
Current and long-term debt and available financing
Current and long-term debt										$ 0	0
5.150% Senior Notes, due May 15, 2053 ("2053 Senior Notes")
Current and long-term debt and available financing
Interest rate, stated percentage										5.15%
Current and long-term debt										$ 590,000,000	590,000,000
Price (as a percent)										99.455%
Yield (as a percent)										5.186%
Principal										$ 600,000,000				$ 600,000,000
Unamortized Debt (Discount) Premium										(3,000,000)
Debt Issuance Costs										$ (7,000,000)
3.125% Senior Notes, due December 1, 2049 (“2049 Senior Notes”)
Current and long-term debt and available financing
Interest rate, stated percentage										3.125%
Current and long-term debt										$ 637,000,000	636,000,000
Price (as a percent)										98.769%
Yield (as a percent)										3.189%
Principal										$ 650,000,000
Unamortized Debt (Discount) Premium										(7,000,000)
Debt Issuance Costs										$ (6,000,000)
4.150% Senior Notes, due March 15, 2047 (“2047 Senior Notes”)
Current and long-term debt and available financing
Interest rate, stated percentage										4.15%
Current and long-term debt										$ 494,000,000	494,000,000
Price (as a percent)										99.739%
Yield (as a percent)										4.165%
Principal										$ 500,000,000
Unamortized Debt (Discount) Premium										(1,000,000)
Debt Issuance Costs										$ (5,000,000)
4.150% Senior Notes, due March 15, 2047 (“2047 Senior Notes”) | Treasury lock agreements
Current and long-term debt and available financing
Yield (as a percent)				4.17%
Notional amount				$ 350,000,000
Weighted-average all-in rate (as a percent)				3.01%
Gain (loss) on derivative instruments recognized in other comprehensive income				$ 3,000,000
4.375% Senior Notes, due June 15, 2045 (“2045 Senior Notes”)
Current and long-term debt and available financing
Interest rate, stated percentage										4.375%
Current and long-term debt										$ 454,000,000	454,000,000
Price (as a percent)										97.999%
Yield (as a percent)										4.497%
Principal										$ 300,000,000									$ 150,000,000
Unamortized Debt (Discount) Premium										(5,000,000)
Debt Issuance Costs										$ (3,000,000)
Aggregate amount outstanding of senior notes																			$ 450,000,000
4.375% Senior Notes, due June 15, 2045 (“2045 Senior Notes”) | Interest rate swap contracts
Current and long-term debt and available financing
Yield (as a percent)								4.216%
Notional amount								$ 300,000,000
Weighted-average all-in rate (as a percent)								2.38%
Gain (loss) on derivative instruments recognized in other comprehensive income								$ 18,000,000
4.375% Senior Notes, due June 15, 2045 ("2045 Senior Notes")
Current and long-term debt and available financing
Price (as a percent)										110.847%
Yield (as a percent)										3.753%
Principal										$ 150,000,000
Unamortized Debt (Discount) Premium										13,000,000
Debt Issuance Costs										$ (1,000,000)
3.700% Senior Notes, due August 15, 2042 (“2042 Senior Notes”)
Current and long-term debt and available financing
Interest rate, stated percentage										3.70%
Current and long-term debt										$ 247,000,000	247,000,000
Price (as a percent)										99.567%
Yield (as a percent)										3.724%
Principal										$ 250,000,000
Unamortized Debt (Discount) Premium										(1,000,000)
Debt Issuance Costs										$ (2,000,000)
6.000% Senior Notes, due May 15, 2037 (“2037 Senior Notes”)
Current and long-term debt and available financing
Interest rate, stated percentage										6%
Current and long-term debt										$ 296,000,000	295,000,000
Price (as a percent)										98.722%
Yield (as a percent)										6.093%
Principal										$ 300,000,000
Unamortized Debt (Discount) Premium										(2,000,000)
Debt Issuance Costs										$ (2,000,000)
6.000% Senior Notes, due May 15, 2037 (“2037 Senior Notes”) | Interest rate swap contracts
Current and long-term debt and available financing
Yield (as a percent)					6.181%
Notional amount					$ 210,000,000
Weighted-average all-in rate (as a percent)					5.45%
Gain (loss) on derivative instruments recognized in other comprehensive income					$ (1,000,000)
5.000% Senior Notes, due February 14, 2034 ("2034 Senior Notes)
Current and long-term debt and available financing
Interest rate, stated percentage										5%
Current and long-term debt										$ 644,000,000	0
Price (as a percent)										99.689%
Yield (as a percent)										5.04%
Principal										$ 650,000,000
Unamortized Debt (Discount) Premium										(2,000,000)
Debt Issuance Costs										$ (4,000,000)
5.000% Senior Notes, due February 14, 2034 ("2034 Senior Notes) | Senior Notes
Current and long-term debt and available financing
Principal													$ 650,000,000
5.000% Senior Notes, due February 14, 2034 ("2034 Senior Notes) | Treasury lock agreements
Current and long-term debt and available financing
Yield (as a percent)																	4.53%
Notional amount																	$ 300,000,000
Weighted-average all-in rate (as a percent)																	2.02%
Gain (loss) on derivative instruments recognized in other comprehensive income		$ 31,000,000
5.75% Senior Notes, due October 15, 2033 (“October 2033 Senior Notes”)
Current and long-term debt and available financing
Interest rate, stated percentage										5.75%
Current and long-term debt										$ 198,000,000	198,000,000
Price (as a percent)										98.645%
Yield (as a percent)										5.846%
Principal										$ 200,000,000
Unamortized Debt (Discount) Premium										(1,000,000)
Debt Issuance Costs										$ (1,000,000)
5.75% Senior Notes, due October 15, 2033 (“October 2033 Senior Notes”) | Treasury lock agreements
Current and long-term debt and available financing
Yield (as a percent)						5.395%
Notional amount						$ 195,000,000
Weighted-average all-in rate (as a percent)						4.53%
Cash payment received on settlement of derivative						$ 15,000,000
4.650% Senior Notes, due May 15, 2033 ("May 2033 Senior Notes")
Current and long-term debt and available financing
Interest rate, stated percentage										4.65%
Current and long-term debt										$ 695,000,000	695,000,000
Price (as a percent)										99.897%
Yield (as a percent)										4.663%
Principal										$ 700,000,000				700,000,000
Unamortized Debt (Discount) Premium										(1,000,000)
Debt Issuance Costs										$ (4,000,000)
4.650% Senior Notes, due May 15, 2033 ("May 2033 Senior Notes") | Treasury lock agreements
Current and long-term debt and available financing
Yield (as a percent)									4.83%
Notional amount									$ 575,000,000
Weighted-average all-in rate (as a percent)									3.57%
Gain (loss) on derivative instruments recognized in other comprehensive income									$ (5,000,000)
1.950% Senior Notes, due March 15, 2031 (“2031 Senior Notes”)
Current and long-term debt and available financing
Interest rate, stated percentage										1.95%
Current and long-term debt										$ 551,000,000	550,000,000
Price (as a percent)										99.34%
Yield (as a percent)										2.023%
Principal										$ 600,000,000
Unamortized Debt (Discount) Premium										(2,000,000)
Interest rate swap adjustments										(44,000,000)
Debt Issuance Costs										(3,000,000)
1.950% Senior Notes, due March 15, 2031 (“2031 Senior Notes”) | Treasury lock agreements
Current and long-term debt and available financing
Yield (as a percent)			1.89%
Notional amount			$ 200,000,000
Weighted-average all-in rate (as a percent)			0.84%
Gain (loss) on derivative instruments recognized in other comprehensive income			$ 11,000,000
1.950% Senior Notes, due March 15, 2031 (“2031 Senior Notes”) | Interest rate swap contracts
Current and long-term debt and available financing
Notional amount										$ 300,000,000
Number of months for SOFR calculation										3 months
2.600% Senior Notes, due April 15, 2030 ("2030 Senior Notes")
Current and long-term debt and available financing
Interest rate, stated percentage										2.60%
Current and long-term debt										$ 595,000,000	589,000,000
Price (as a percent)										99.816%
Yield (as a percent)										2.621%
Principal										$ 700,000,000
Unamortized Debt (Discount) Premium										(1,000,000)
Interest rate swap adjustments										(101,000,000)
Debt Issuance Costs										(3,000,000)
2.600% Senior Notes, due April 15, 2030 ("2030 Senior Notes") | Interest rate swap contracts
Current and long-term debt and available financing
Notional amount										$ 700,000,000
Number of months for SOFR calculation										3 months
2.375% Senior Notes, due December 1, 2029 (“2029 Senior Notes”)
Current and long-term debt and available financing
Interest rate, stated percentage										2.375%
Current and long-term debt										$ 644,000,000	643,000,000
Price (as a percent)										99.046%
Yield (as a percent)										2.483%
Principal										$ 650,000,000
Unamortized Debt (Discount) Premium										(4,000,000)
Debt Issuance Costs										$ (2,000,000)
2.375% Senior Notes, due December 1, 2029 (“2029 Senior Notes”) | Treasury lock agreements
Current and long-term debt and available financing
Yield (as a percent)							3.15%
Notional amount							$ 500,000,000
Weighted-average all-in rate (as a percent)							2.50%
Gain (loss) on derivative instruments recognized in other comprehensive income							$ (33,000,000)
4.375% Senior Notes, due May 15, 2028 ("2028 Senior Notes")
Current and long-term debt and available financing
Interest rate, stated percentage										4.375%
Current and long-term debt										$ 696,000,000	696,000,000
Price (as a percent)										99.897%
Yield (as a percent)										4.398%
Principal										$ 700,000,000				700,000,000
Unamortized Debt (Discount) Premium										(1,000,000)
Debt Issuance Costs										$ (3,000,000)
3.150% Senior Notes, due March 15, 2027 (“2027 Senior Notes”)
Current and long-term debt and available financing
Interest rate, stated percentage										3.15%
Current and long-term debt										$ 499,000,000	499,000,000
Price (as a percent)										99.963%
Yield (as a percent)										3.154%
Principal										$ 500,000,000
Unamortized Debt (Discount) Premium										0
Debt Issuance Costs										$ (1,000,000)
3.150% Senior Notes, due March 15, 2027 (“2027 Senior Notes”) | Treasury lock agreements
Current and long-term debt and available financing
Yield (as a percent)				3.18%
Notional amount				$ 450,000,000
Weighted-average all-in rate (as a percent)				2.37%
Gain (loss) on derivative instruments recognized in other comprehensive income				$ 2,000,000
2.000% Senior Notes, due December 1, 2024 (“2024 Senior Notes”)
Current and long-term debt and available financing
Interest rate, stated percentage										2%
Current and long-term debt										$ 499,000,000	498,000,000
Price (as a percent)										99.421%
Yield (as a percent)										2.122%
Principal										$ 500,000,000
Unamortized Debt (Discount) Premium										(1,000,000)
Debt Issuance Costs										0
2.350% Senior Notes, due August 15, 2022 (“2022 Senior Notes”)
Current and long-term debt and available financing
Interest rate, stated percentage	2.35%
Repayments of senior debt	$ 250,000,000
Commercial paper
Current and long-term debt and available financing
Current and long-term debt										0	988,000,000
Available financing, uncommitted										2,500,000,000
Other long-term borrowings
Current and long-term debt and available financing
Current and long-term debt										28,000,000	33,000,000
Other current borrowings
Current and long-term debt and available financing
Current and long-term debt										4,000,000	9,000,000
Available financing, uncommitted										155,000,000
Monthly average amount outstanding											$ 1,000,000
Weighted-average interest rate (as a percent)											5.40%
Revolving credit facility
Current and long-term debt and available financing
Available financing, committed										2,500,000,000
Revolving Credit Facility Expiring October 2026 | Revolving credit facility | Revolving credit facility
Current and long-term debt and available financing
Maximum borrowing capacity																		$ 2,500,000,000
Revolving Credit Facility, Expiring June 2029 | Revolving credit facility | Revolving credit facility
Current and long-term debt and available financing
Maximum borrowing capacity										2,500,000,000
Maximum borrowing capacity for multi-currency loans										750,000,000
Annual fee										1,000,000
Amount of cross-default provision										175,000,000
Potential increase in borrowing capacity										$ 500,000,000
364-Day Facility
Current and long-term debt and available financing
Maximum borrowing capacity															$ 2,000,000,000
Line of credit, terminated											$ 2,000,000,000
Senior Notes Due 2028 through 2053
Current and long-term debt and available financing
Principal														$ 2,000,000,000

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS - Narrative (Details)	12 Months Ended
	Jun. 30, 2024 USD ($) agency	Jun. 30, 2023 USD ($)
Derivative
Derivative instruments
Minimum number of nationally recognized rating agencies | agency	2
Maximum exposure to credit risk in the event of non performance by counterparties, gross fair value of contracts in asset positions	$ 148,000,000
Cross-currency swap contracts
Derivative instruments
Fair value hedge gain to be reclassified within 12 Months	14,000,000
Accumulated net gain (loss) on derivative instruments in AOCI, before tax	(7,000,000)	$ (20,000,000)
2.600% Senior Notes, due April 15, 2030 ("2030 Senior Notes") | Interest rate swap contracts
Derivative instruments
Notional amount	$ 700,000,000
Number of months for SOFR calculation	3 months
1.950% Senior Notes, due March 15, 2031 (“2031 Senior Notes”) | Interest rate swap contracts
Derivative instruments
Notional amount	$ 300,000,000
Number of months for SOFR calculation	3 months
Derivatives in Cash Flow Hedging Relationships
Derivative instruments
Accumulated net gain (loss) on derivative instruments in AOCI, before tax	$ 75,000,000	$ 79,000,000
Amount expected to be reclassified from AOCI into earnings, net of tax, within the next twelve months	27,000,000
Derivatives in Cash Flow Hedging Relationships | Foreign currency forward contracts
Derivative instruments
Notional amount	2,300,000,000
Derivatives in Fair Value Hedging Relationships | Cross-currency swap contracts
Derivative instruments
Notional amount	491,000,000
Derivatives in Fair Value Hedging Relationships | 2.600% Senior Notes, due April 15, 2030 ("2030 Senior Notes") | Interest rate swap contracts
Derivative instruments
Notional amount	$ 700,000,000
Derivatives in Fair Value Hedging Relationships | 2.600% Senior Notes, due April 15, 2030 ("2030 Senior Notes") | Interest rate swap contracts | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Derivative instruments
Number of months for SOFR calculation	3 months
Derivatives in Fair Value Hedging Relationships | 1.950% Senior Notes, due March 15, 2031 (“2031 Senior Notes”) | Interest rate swap contracts
Derivative instruments
Notional amount	$ 300,000,000
Net investment hedges | Foreign currency forward contracts
Derivative instruments
Notional amount	912,000,000
Derivatives Not Designated as Hedging Instruments
Derivative instruments
Notional amount	$ 4,576,000,000

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS - Derivative Instruments Included in the Consolidated Balance Sheets (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Derivatives, Fair Value
Asset Derivatives	$ 148	$ 98
Liability Derivatives	166	199
Derivative Asset, Total	148	98
Derivative Liability, Total	$ 166	$ 199
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other accrued liabilities	Other accrued liabilities
Prepaid expenses and other current assets
Derivatives, Fair Value
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Prepaid expenses and other current assets	Prepaid expenses and other current assets
Other Assets
Derivatives, Fair Value
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets
Derivatives Designated as Hedging Instruments
Derivatives, Fair Value
Asset Derivatives	$ 129	$ 78
Liability Derivatives	149	179
Derivatives Designated as Hedging Instruments | Prepaid expenses and other current assets | Net investment hedges
Derivatives, Fair Value
Asset Derivatives	15	0
Derivatives Designated as Hedging Instruments | Other accrued liabilities | Net investment hedges
Derivatives, Fair Value
Liability Derivatives	0	13
Derivatives Designated as Hedging Instruments | Foreign currency forward contracts | Prepaid expenses and other current assets; Other assets
Derivatives, Fair Value
Asset Derivatives	34
Derivatives Designated as Hedging Instruments | Foreign currency forward contracts | Prepaid expenses and other current assets
Derivatives, Fair Value
Asset Derivatives		56
Derivatives Designated as Hedging Instruments | Foreign currency forward contracts | Other accrued liabilities
Derivatives, Fair Value
Liability Derivatives	4	16
Derivatives Designated as Hedging Instruments | Foreign currency forward contracts | Other Assets
Derivatives, Fair Value
Asset Derivatives	2
Derivatives Designated as Hedging Instruments | Cross-currency swap contracts | Prepaid expenses and other current assets; Other assets
Derivatives, Fair Value
Asset Derivatives	80
Derivatives Designated as Hedging Instruments | Cross-currency swap contracts | Prepaid expenses and other current assets
Derivatives, Fair Value
Asset Derivatives		22
Derivatives Designated as Hedging Instruments | Cross-currency swap contracts | Other accrued liabilities
Derivatives, Fair Value
Liability Derivatives	0	0
Derivatives Designated as Hedging Instruments | Cross-currency swap contracts | Other Assets
Derivatives, Fair Value
Asset Derivatives	70
Derivatives Designated as Hedging Instruments | Interest rate-related derivatives | Prepaid expenses and other current assets
Derivatives, Fair Value
Asset Derivatives	0	0
Derivatives Designated as Hedging Instruments | Interest rate-related derivatives | Other accrued liabilities
Derivatives, Fair Value
Liability Derivatives	145	150
Derivatives Not Designated as Hedging Instruments | Foreign currency forward contracts | Prepaid expenses and other current assets
Derivatives, Fair Value
Asset Derivatives	19	20
Derivatives Not Designated as Hedging Instruments | Foreign currency forward contracts | Other accrued liabilities
Derivatives, Fair Value
Liability Derivatives	$ 17	$ 20

DERIVATIVE FINANCIAL INSTRUME_5

DERIVATIVE FINANCIAL INSTRUMENTS - Gain (Loss) on Derivative Financial Instruments (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Gain (loss) on derivative financial instruments
Amount of Gain (Loss) Recognized in OCI on Derivatives	$ 48	$ 24
Amount of Gain (Loss) Reclassified from AOCI into Earnings	50	70
Derivatives in Cash Flow Hedging Relationships
Gain (loss) on derivative financial instruments
Amount of Gain (Loss) Recognized in OCI on Derivatives	47	59
Amount of Gain (Loss) Reclassified from AOCI into Earnings	50	70
Derivatives in Cash Flow Hedging Relationships | Foreign currency forward contracts
Gain (loss) on derivative financial instruments
Amount of Gain (Loss) Recognized in OCI on Derivatives	47	57
Derivatives in Cash Flow Hedging Relationships | Foreign currency forward contracts | Net sales
Gain (loss) on derivative financial instruments
Amount of Gain (Loss) Reclassified from AOCI into Earnings	50	71	$ 3
Derivatives in Cash Flow Hedging Relationships | Interest rate-related derivatives
Gain (loss) on derivative financial instruments
Amount of Gain (Loss) Recognized in OCI on Derivatives	0	2
Derivatives in Cash Flow Hedging Relationships | Interest rate-related derivatives | Interest expense
Gain (loss) on derivative financial instruments
Amount of Gain (Loss) Reclassified from AOCI into Earnings	0	(1)	(1)
Derivatives in Net Investment Hedging Relationships
Gain (loss) on derivative financial instruments
Gain from amount excluded from effectiveness testing	17	26
Derivatives in Net Investment Hedging Relationships | Foreign currency forward contracts
Gain (loss) on derivative financial instruments
Amount of Gain (Loss) Recognized in OCI on Derivatives	1	(35)
Amount of Gain (Loss) Reclassified from AOCI into Earnings	0	0
Derivatives in Fair Value Hedging Relationships | Interest rate-related derivatives | Interest expense
Gain (loss) on derivative financial instruments
Amount of Gain (Loss) Recognized in Earnings on Derivatives	(5)	36	130
Derivatives in Fair Value Hedging Relationships | Interest rate-related derivatives | Interest expense | Derivatives Designated as Hedging Instruments
Gain (loss) on derivative financial instruments
Amount of Gain (Loss) Recognized in Earnings on Derivatives	5	(36)	(130)
Derivatives in Fair Value Hedging Relationships | Cross-currency swap contracts | Derivatives Designated as Hedging Instruments
Gain (loss) on derivative financial instruments
Gain from amount excluded from effectiveness testing	19	9
Derivatives in Fair Value Hedging Relationships | Cross-currency swap contracts | Selling, general and administrative
Gain (loss) on derivative financial instruments
Amount of Gain (Loss) Recognized in Earnings on Derivatives	(44)	(42)	0
Derivatives in Fair Value Hedging Relationships | Cross-currency swap contracts | Selling, general and administrative | Derivatives Designated as Hedging Instruments
Gain (loss) on derivative financial instruments
Amount of Gain (Loss) Recognized in Earnings on Derivatives	44	42
Amount of Gain (Loss) Recognized in Earnings on Derivatives	44	42	$ 0
Derivatives in Fair Value Hedging Relationships | Interest rate swap contracts | Interest expense | Derivatives Designated as Hedging Instruments
Gain (loss) on derivative financial instruments
Amount of Gain (Loss) Recognized in Earnings on Derivatives	$ 5	$ (36)

DERIVATIVE FINANCIAL INSTRUME_6

DERIVATIVE FINANCIAL INSTRUMENTS - Cumulative Amount of Fair Value Hedging Gain (Loss) (Details) - Derivatives in Fair Value Hedging Relationships $ in Millions	12 Months Ended
	Jun. 30, 2024 USD ($)
Long-term debt
Derivative instruments
Carrying Amount of the Hedged Liabilities	$ 849
Cumulative Amount of Fair Value Hedging Gain (Loss) Included in the Carrying Amount of the Hedged Liability	(145)
Intercompany debt
Derivative instruments
Carrying Amount of the Hedged Liabilities	0
Cumulative Amount of Fair Value Hedging Gain (Loss) Included in the Carrying Amount of the Hedged Liability	$ 87

DERIVATIVE FINANCIAL INSTRUME_7

DERIVATIVE FINANCIAL INSTRUMENTS - Effects of Fair Value and Cash Flow Hedging Relationships (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
The effects of fair value and cash flow hedging relationships:
Amount of gain (loss) reclassified from AOCI into earnings	$ 50	$ 70
Derivatives in Cash Flow Hedging Relationships
The effects of fair value and cash flow hedging relationships:
Amount of gain (loss) reclassified from AOCI into earnings	50	70
Net sales
Derivative instruments
Total amounts of income and expense line items presented in the consolidated statements of earnings in which the effects of fair value and cash flow hedges are recorded	$ 15,608	$ 15,910	$ 17,737
The effects of fair value and cash flow hedging relationships:
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Net sales	Net sales	Net sales
Net sales | Foreign currency forward contracts | Derivatives in Cash Flow Hedging Relationships
The effects of fair value and cash flow hedging relationships:
Amount of gain (loss) reclassified from AOCI into earnings	$ 50	$ 71	$ 3
Selling, general and administrative
Derivative instruments
Total amounts of income and expense line items presented in the consolidated statements of earnings in which the effects of fair value and cash flow hedges are recorded	$ 9,621	$ 9,575	$ 9,888
The effects of fair value and cash flow hedging relationships:
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Selling, general and administrative	Selling, general and administrative	Selling, general and administrative
Selling, general and administrative | Cross-currency swap contracts | Derivatives in Fair Value Hedging Relationships
The effects of fair value and cash flow hedging relationships:
Amount of gain (loss) recognized in earnings	$ (44)	$ (42)	$ 0
Selling, general and administrative | Cross-currency swap contracts | Derivatives in Fair Value Hedging Relationships | Derivatives Designated as Hedging Instruments
The effects of fair value and cash flow hedging relationships:
Amount of gain (loss) recognized in earnings	44	42	0
Interest expense
Derivative instruments
Total amounts of income and expense line items presented in the consolidated statements of earnings in which the effects of fair value and cash flow hedges are recorded	$ 378	$ 255	$ 167
The effects of fair value and cash flow hedging relationships:
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest expense	Interest expense	Interest expense
Interest expense | Interest rate-related derivatives | Derivatives in Fair Value Hedging Relationships
The effects of fair value and cash flow hedging relationships:
Amount of gain (loss) recognized in earnings	$ (5)	$ 36	$ 130
Interest expense | Interest rate-related derivatives | Derivatives in Fair Value Hedging Relationships | Derivatives Designated as Hedging Instruments
The effects of fair value and cash flow hedging relationships:
Amount of gain (loss) recognized in earnings	5	(36)	(130)
Interest expense | Interest rate-related derivatives | Derivatives in Cash Flow Hedging Relationships
The effects of fair value and cash flow hedging relationships:
Amount of gain (loss) reclassified from AOCI into earnings	$ 0	$ (1)	$ (1)

DERIVATIVE FINANCIAL INSTRUME_8

DERIVATIVE FINANCIAL INSTRUMENTS - Gains and Losses Related to Instruments Not Designated as Hedging Instruments (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Foreign currency forward contracts | Derivatives Not Designated as Hedging Instruments | Selling, general and administrative
Derivative instruments
Amount of Gain (Loss) Recognized in Earnings on Derivatives	$ 62	$ (10)

DERIVATIVE FINANCIAL INSTRUME_9

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Derivative Asset and Liabilities, Offset (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Derivative assets
Gross Amounts of Assets / (Liabilities) Presented in Balance Sheet	$ 148	$ 98
Contracts Subject to Netting	(49)	(53)
Net Amounts of Assets / (Liabilities)	99	45
Derivative liabilities
Gross Amounts of Assets / (Liabilities) Presented in Balance Sheet	(166)	(199)
Contracts Subject to Netting	49	53
Net Amounts of Assets / (Liabilities)	(117)	(146)
Derivative Total [Abstract]
Gross Amounts of Assets / (Liabilities) Presented in Balance Sheet	(18)	(101)
Contracts Subject to Netting	0	0
Net Amounts of Assets / (Liabilities)	$ (18)	$ (101)

FAIR VALUE MEASUREMENTS - Hiera

FAIR VALUE MEASUREMENTS - Hierarchy For Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - Recurring basis - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Assets:
Money market funds	$ 1,507	$ 3,241
Foreign currency forward contracts	68	76
Cross-currency swap contracts	80	22
Total	1,655	3,339
Liabilities:
Foreign currency forward contracts	21	49
Interest rate-related derivatives	145	150
DECIEM stock options		99
Total	166	298
Level 1
Assets:
Money market funds	1,507	3,241
Foreign currency forward contracts	0	0
Cross-currency swap contracts	0	0
Total	1,507	3,241
Liabilities:
Foreign currency forward contracts	0	0
Interest rate-related derivatives	0	0
DECIEM stock options		0
Total	0	0
Level 2
Assets:
Money market funds	0	0
Foreign currency forward contracts	68	76
Cross-currency swap contracts	80	22
Total	148	98
Liabilities:
Foreign currency forward contracts	21	49
Interest rate-related derivatives	145	150
DECIEM stock options		0
Total	166	199
Level 3
Assets:
Money market funds	0	0
Foreign currency forward contracts	0	0
Cross-currency swap contracts	0	0
Total	0	0
Liabilities:
Foreign currency forward contracts	0	0
Interest rate-related derivatives	0	0
DECIEM stock options		99
Total	$ 0	$ 99

FAIR VALUE MEASUREMENTS - Estim

FAIR VALUE MEASUREMENTS - Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Carrying Amount
Non derivatives
Cash and cash equivalents	$ 3,395	$ 4,029
Current and long-term debt	7,771	8,114
DECIEM stock options	0	99
Deferred consideration payable	341	341
Carrying Amount | Cross-currency swap contracts
Derivatives
Derivative assets (liabilities)	80	22
Carrying Amount | Foreign currency forward contracts
Derivatives
Derivative assets (liabilities)	47	27
Carrying Amount | Interest rate-related derivatives
Derivatives
Derivative assets (liabilities)	(145)	(150)
Fair Value
Non derivatives
Cash and cash equivalents	3,395	4,029
Current and long-term debt	7,174	7,665
DECIEM stock options	0	99
Deferred consideration payable	340	338
Fair Value | Cross-currency swap contracts
Derivatives
Derivative assets (liabilities)	80	22
Fair Value | Foreign currency forward contracts
Derivatives
Derivative assets (liabilities)	47	27
Fair Value | Interest rate-related derivatives
Derivatives
Derivative assets (liabilities)	$ (145)	$ (150)

FAIR VALUE MEASUREMENTS - Chang

FAIR VALUE MEASUREMENTS - Changes in DECEIM Stock Option Liability (Details) - Level 3 - Recurring basis - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Fair Value Measurement Inputs and Valuation Techniques [Roll Forward]
Changes in fair value (expense) income, net of foreign currency remeasurements	$ (13)	$ (22)	$ 55
DECIEM Stock Option
Fair Value Measurement Inputs and Valuation Techniques [Roll Forward]
DECIEM stock option liability, beginning balance	99
Changes in fair value (expense) income, net of foreign currency remeasurements	13
DECIEM stock options exercised	(114)
Translation adjustments and other, net	2
DECIEM stock option liability, ending balance	$ 0	$ 99

REVENUE RECOGNITION - Narrative

REVENUE RECOGNITION - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Allowance for doubtful accounts and customer deductions	$ 26	$ 30
Allowance for non-credit losses	12	14
Deferred revenue	$ 560	572	$ 362
Marcolin Group | License
Disaggregation of Revenue [Line Items]
Deferred revenue		$ 250

REVENUE RECOGNITION - Changes i

REVENUE RECOGNITION - Changes in Allowance for Credit Losses (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses, beginning of period	$ 16	$ 10
Provision (adjustment) for expected credit losses	(4)	6
Write-offs, net & other	2	0
Allowance for credit losses, end of period	$ 14	$ 16

REVENUE RECOGNITION - Changes_2

REVENUE RECOGNITION - Changes in Deferred Revenue (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Change in Contract with Customer, Liability [Roll Forward]
Deferred revenue, beginning of period	$ 572	$ 362
Revenue recognized that was included in the deferred revenue balance at the beginning of the period	(316)	(343)
Revenue deferred during the period	316	538
Other	(12)	15
Deferred revenue, end of period	$ 560	$ 572

REVENUE RECOGNITION - Transacti

REVENUE RECOGNITION - Transaction Price Allocated to the Remaining Performance Obligations (Details) $ in Millions	Jun. 30, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-28 | Marcolin Group | License
REVENUE RECOGNITION
Expected timing of revenue recognition	20 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
REVENUE RECOGNITION
Expected timing of revenue recognition	12 months
Estimated recognition of deferred revenue	$ 327
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01 | License
REVENUE RECOGNITION
Expected timing of revenue recognition	1 year
Estimated recognition of deferred revenue	$ 28
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-07-01 | License
REVENUE RECOGNITION
Expected timing of revenue recognition	1 year
Estimated recognition of deferred revenue	$ 29
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-07-01 | Marcolin Group | License
REVENUE RECOGNITION
Estimated recognition of deferred revenue	$ 223
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-07-01 | License
REVENUE RECOGNITION
Expected timing of revenue recognition	1 year
Estimated recognition of deferred revenue	$ 30
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-07-01 | License
REVENUE RECOGNITION
Expected timing of revenue recognition	1 year
Estimated recognition of deferred revenue	$ 32
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-07-01 | License
REVENUE RECOGNITION
Expected timing of revenue recognition	1 year
Estimated recognition of deferred revenue	$ 33
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-07-01 | License
REVENUE RECOGNITION
Expected timing of revenue recognition
Estimated recognition of deferred revenue	$ 160

REVENUE RECOGNITION - Schedule

REVENUE RECOGNITION - Schedule of Guaranteed Minimum Royalty Amounts (Details) $ in Millions	Jun. 30, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
REVENUE RECOGNITION
Estimated recognition of deferred revenue	$ 327
Expected timing of revenue recognition	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01 | License
REVENUE RECOGNITION
Estimated recognition of deferred revenue	$ 28
Expected timing of revenue recognition	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-07-01 | License
REVENUE RECOGNITION
Estimated recognition of deferred revenue	$ 29
Expected timing of revenue recognition	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-07-01 | License
REVENUE RECOGNITION
Estimated recognition of deferred revenue	$ 30
Expected timing of revenue recognition	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-07-01 | License
REVENUE RECOGNITION
Estimated recognition of deferred revenue	$ 32
Expected timing of revenue recognition	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-07-01 | License
REVENUE RECOGNITION
Estimated recognition of deferred revenue	$ 33
Expected timing of revenue recognition	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-07-01 | License
REVENUE RECOGNITION
Estimated recognition of deferred revenue	$ 160
Expected timing of revenue recognition

PENSION, DEFERRED COMPENSATIO_3

PENSION, DEFERRED COMPENSATION AND POST-RETIREMENT BENEFIT PLANS - Benefit Obligation, Plan Assets and Amounts Recognized in Balance Sheet (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Change in plan assets:
Fair value of plan assets at beginning of year	$ 1,296
Fair value of plan assets at end of year	1,368	$ 1,296
Amounts recognized in the Balance Sheet consist of:
Accumulated other comprehensive loss (income)	243
Pension Plans | Retirement Growth Account
Change in benefit obligation:
Benefit obligation at beginning of year	807
Benefit obligation at end of year	825	807
Change in plan assets:
Fair value of plan assets at beginning of year	753
Fair value of plan assets at end of year	801	$ 753
Amounts recognized in the Balance Sheet consist of:
Discount rate (as a percent)		5.30%	4.50%
Pension Plans | Pension Plans Restoration
Change in benefit obligation:
Benefit obligation at beginning of year	105
Benefit obligation at end of year	116	$ 105
Change in plan assets:
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	$ 0
Amounts recognized in the Balance Sheet consist of:
Discount rate (as a percent)		5.20%	4.30%
Pension Plans | U.S.
Change in benefit obligation:
Benefit obligation at beginning of year	912	$ 922
Service cost	35	37	$ 46
Interest cost	46	40	31
Plan participant contributions	0	0
Actuarial loss (gain)	(3)	(30)
Foreign currency exchange rate impact	0	0
Benefits, expenses, taxes and premiums paid	(49)	(57)
Plan amendments	0	0
Settlements	0	0
Special termination benefits	0	0	0
Benefit obligation at end of year	941	912	922
Change in plan assets:
Fair value of plan assets at beginning of year	753	838
Actual return on plan assets	14	(42)
Foreign exchange impact	0	0
Employer contributions	83	14
Plan participant contributions	0	0
Settlements	0	0
Benefits, expenses, taxes and premiums paid from plan assets	(49)	(57)
Fair value of plan assets at end of year	801	753	838
Funded status	(140)	(159)
Amounts recognized in the Balance Sheet consist of:
Other assets	0	0
Other accrued liabilities	(27)	(21)
Other noncurrent liabilities	(113)	(138)
Funded status	(140)	(159)
Accumulated other comprehensive loss (income)	269	237
Net amount recognized	129	78
Pension Plans | International
Change in benefit obligation:
Benefit obligation at beginning of year	522	562
Service cost	26	27	31
Interest cost	19	15	10
Plan participant contributions	8	8
Actuarial loss (gain)	(1)	(51)
Foreign currency exchange rate impact	0	(3)
Benefits, expenses, taxes and premiums paid	(32)	(32)
Plan amendments	0	0
Settlements	(2)	(4)
Special termination benefits	1	0	4
Benefit obligation at end of year	541	522	562
Change in plan assets:
Fair value of plan assets at beginning of year	541	579
Actual return on plan assets	29	(38)
Foreign exchange impact	(1)	(7)
Employer contributions	24	35
Plan participant contributions	8	8
Settlements	(2)	(4)
Benefits, expenses, taxes and premiums paid from plan assets	(32)	(32)
Fair value of plan assets at end of year	567	541	$ 579
Funded status	26	19
Amounts recognized in the Balance Sheet consist of:
Other assets	125	115
Other accrued liabilities	(4)	(4)
Other noncurrent liabilities	(95)	(92)
Funded status	26	19
Accumulated other comprehensive loss (income)	(5)	(9)
Net amount recognized	21	$ 10
Discount rate (as a percent)		3.70%	2.80%
Other than Pension Plans
Change in benefit obligation:
Benefit obligation at beginning of year	176	$ 177
Service cost	2	1	$ 2
Interest cost	8	8	6
Plan participant contributions	1	1
Actuarial loss (gain)	(6)	4
Foreign currency exchange rate impact	0	(3)
Benefits, expenses, taxes and premiums paid	(12)	(12)
Plan amendments	(25)	0
Settlements	0	0
Special termination benefits	0	0	0
Benefit obligation at end of year	144	176	177
Change in plan assets:
Fair value of plan assets at beginning of year	2	14
Actual return on plan assets	0	(1)
Foreign exchange impact	0	0
Employer contributions	9	0
Plan participant contributions	1	1
Settlements	0	0
Benefits, expenses, taxes and premiums paid from plan assets	(12)	(12)
Fair value of plan assets at end of year	0	2	$ 14
Funded status	(144)	(174)
Amounts recognized in the Balance Sheet consist of:
Other assets	0	0
Other accrued liabilities	(13)	(9)
Other noncurrent liabilities	(131)	(165)
Funded status	(144)	(174)
Accumulated other comprehensive loss (income)	(21)	7
Net amount recognized	$ (165)	$ (167)

PENSION, DEFERRED COMPENSATIO_4

PENSION, DEFERRED COMPENSATION AND POST-RETIREMENT BENEFIT PLANS - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Pension Plans | U.S.
Components of net periodic benefit cost:
Service cost	$ 35	$ 37	$ 46
Interest cost	46	40	31
Expected return on assets	(54)	(57)	(55)
Amortization of:
Actuarial loss (gain)	4	3	15
Prior service cost	1	0	0
Settlements	0	0	0
Special termination benefits	0	0	0
Net periodic benefit cost	$ 32	$ 23	$ 37
Assumptions used to determine benefit obligations at June 30
Weighted-average discount rate (as a percent)	0.0568	0.0529	0.0448
Assumptions used to determine net periodic benefit cost for the year ended June 30
Expected return on assets (as a percent)	6.25%	6.25%	6.25%
Weighted-average discount rate (as a percent)	0.0529	0.0448	0.0294
Weighted-average expected return on assets (as a percent)	0.0625	0.0625	0.0625
Pension Plans | U.S. | Minimum
Assumptions used to determine benefit obligations at June 30
Discount rate (as a percent)	5.50%	5.20%	4.30%
Rate of compensation increase (as a percent)	2.50%	2.50%	2.50%
Weighted-average rate of compensation increase (as a percent)	0.0250	0.0250	0.0250
Assumptions used to determine net periodic benefit cost for the year ended June 30
Discount rate (as a percent)	5.20%	4.30%	2.50%
Rate of compensation increase (as a percent)	2.50%	2.50%	2.50%
Weighted-average rate of compensation increase (as a percent)	0.0250	0.0250	0.0250
Pension Plans | U.S. | Maximum
Assumptions used to determine benefit obligations at June 30
Discount rate (as a percent)	5.70%	5.30%	4.50%
Rate of compensation increase (as a percent)	8%	8%	8%
Weighted-average rate of compensation increase (as a percent)	0.0800	0.0800	0.0800
Assumptions used to determine net periodic benefit cost for the year ended June 30
Discount rate (as a percent)	5.30%	4.50%	3%
Rate of compensation increase (as a percent)	8%	8%	8%
Weighted-average rate of compensation increase (as a percent)	0.0800	0.0800	0.0800
Pension Plans | International
Components of net periodic benefit cost:
Service cost	$ 26	$ 27	$ 31
Interest cost	19	15	10
Expected return on assets	(25)	(17)	(13)
Amortization of:
Actuarial loss (gain)	(8)	(3)	2
Prior service cost	(1)	(1)	(1)
Settlements	0	1	0
Special termination benefits	1	0	4
Net periodic benefit cost	$ 12	$ 22	$ 33
Assumptions used to determine benefit obligations at June 30
Discount rate (as a percent)		3.70%	2.80%
Weighted-average discount rate (as a percent)	0.0350	0.0369	0.0277
Weighted-average rate of compensation increase (as a percent)	0.0300	0.0308	0.0308
Assumptions used to determine net periodic benefit cost for the year ended June 30
Weighted-average discount rate (as a percent)	0.0369	0.0277	0.0159
Weighted-average expected return on assets (as a percent)	0.0406	0.0295	0.0219
Weighted-average rate of compensation increase (as a percent)	0.0308	0.0296	0.0281
Pension Plans | International | Minimum
Assumptions used to determine benefit obligations at June 30
Discount rate (as a percent)	1.75%	1%	0.75%
Rate of compensation increase (as a percent)	1.50%	1.75%	1.50%
Assumptions used to determine net periodic benefit cost for the year ended June 30
Discount rate (as a percent)	1%	0.75%	0.50%
Expected return on assets (as a percent)	2.25%	1.25%	1.25%
Rate of compensation increase (as a percent)	1.75%	0%	0%
Pension Plans | International | Maximum
Assumptions used to determine benefit obligations at June 30
Discount rate (as a percent)	10%	9%	9%
Rate of compensation increase (as a percent)	5%	5%	5%
Assumptions used to determine net periodic benefit cost for the year ended June 30
Discount rate (as a percent)	9%	9%	7.25%
Expected return on assets (as a percent)	9%	9%	7.25%
Rate of compensation increase (as a percent)	5%	5%	5%
Other than Pension Plans
Components of net periodic benefit cost:
Service cost	$ 2	$ 1	$ 2
Interest cost	8	8	6
Expected return on assets	(1)	(1)	(1)
Amortization of:
Actuarial loss (gain)	0	0	1
Prior service cost	(3)	0	0
Settlements	0	0	0
Special termination benefits	0	0	0
Net periodic benefit cost	$ 6	$ 8	$ 8
Assumptions used to determine benefit obligations at June 30
Weighted-average discount rate (as a percent)	0.0551	0.0519	0.0468
Assumptions used to determine net periodic benefit cost for the year ended June 30
Expected return on assets (as a percent)	6.25%	6.25%	6.25%
Weighted-average discount rate (as a percent)	0.0519	0.0468	0.0292
Weighted-average expected return on assets (as a percent)	0.0625	0.0625	0.0625
Other than Pension Plans | Minimum
Assumptions used to determine benefit obligations at June 30
Discount rate (as a percent)	5%	5%	4.50%
Assumptions used to determine net periodic benefit cost for the year ended June 30
Discount rate (as a percent)	5%	4.50%	2.70%
Other than Pension Plans | Maximum
Assumptions used to determine benefit obligations at June 30
Discount rate (as a percent)	11%	10.75%	9.75%
Assumptions used to determine net periodic benefit cost for the year ended June 30
Discount rate (as a percent)	10.75%	9.75%	9%

PENSION, DEFERRED COMPENSATIO_5

PENSION, DEFERRED COMPENSATION AND POST-RETIREMENT BENEFIT PLANS - Trend Rates (Details) - Other than Pension Plans	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Defined Benefit Plan Disclosure
Weighted-average interest crediting rates (as a percent)	5.20%	4%
Assumed weighted-average health care cost trend rate for the coming year (as a percent)	5.40%
Weighted-average ultimate trend rate (as a percent)	4.02%
Minimum
Defined Benefit Plan Disclosure
Period after which ultimate trend rate is expected to be reached	16 years
Maximum
Defined Benefit Plan Disclosure
Period after which ultimate trend rate is expected to be reached	22 years

PENSION, DEFERRED COMPENSATIO_6

PENSION, DEFERRED COMPENSATION AND POST-RETIREMENT BENEFIT PLANS - Amounts Recognized in AOCI (Before Tax) (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
AOCI (before tax)
Translation adjustments	$ 145	$ 127	$ 438
Total amounts recognized in AOCI	243
Net actuarial (gains) losses recognized
AOCI (before tax)
Balance, beginning of year	235
Actuarial losses (gains) recognized	27
Amortization and settlements included in net periodic benefit cost	4
Translation adjustments	(1)
Balance, end of year	265	235
Net prior service cost (credit) recognized
AOCI (before tax)
Balance, beginning of year	0
Amortization and settlements included in net periodic benefit cost	3
Prior service cost recognized	(25)
Balance, end of year	(22)	0
Pension Plans | U.S.
AOCI (before tax)
Total amounts recognized in AOCI	269	237
Pension Plans | U.S. | Net actuarial (gains) losses recognized
AOCI (before tax)
Balance, beginning of year	235
Actuarial losses (gains) recognized	37
Amortization and settlements included in net periodic benefit cost	(4)
Translation adjustments	0
Balance, end of year	268	235
Pension Plans | U.S. | Net prior service cost (credit) recognized
AOCI (before tax)
Balance, beginning of year	2
Amortization and settlements included in net periodic benefit cost	(1)
Prior service cost recognized	0
Balance, end of year	1	2
Pension Plans | International
AOCI (before tax)
Total amounts recognized in AOCI	(5)	(9)
Pension Plans | International | Net actuarial (gains) losses recognized
AOCI (before tax)
Balance, beginning of year	(7)
Actuarial losses (gains) recognized	(4)
Amortization and settlements included in net periodic benefit cost	8
Translation adjustments	(1)
Balance, end of year	(4)	(7)
Pension Plans | International | Net prior service cost (credit) recognized
AOCI (before tax)
Balance, beginning of year	(2)
Amortization and settlements included in net periodic benefit cost	1
Prior service cost recognized	0
Balance, end of year	(1)	(2)
Other than Pension Plans
AOCI (before tax)
Total amounts recognized in AOCI	(21)	7
Other than Pension Plans | Net actuarial (gains) losses recognized
AOCI (before tax)
Balance, beginning of year	7
Actuarial losses (gains) recognized	(6)
Amortization and settlements included in net periodic benefit cost	0
Translation adjustments	0
Balance, end of year	1	7
Other than Pension Plans | Net prior service cost (credit) recognized
AOCI (before tax)
Balance, beginning of year	0
Amortization and settlements included in net periodic benefit cost	3
Prior service cost recognized	(25)
Balance, end of year	$ (22)	$ 0

PENSION, DEFERRED COMPENSATIO_7

PENSION, DEFERRED COMPENSATION AND POST-RETIREMENT BENEFIT PLANS - Projected and Accumulated Benefit Obligation and Fair Value of Plan Assets (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Defined Benefit Plan Disclosure
Fair value of plan assets	$ 1,368	$ 1,296
Pension Plans | Retirement Growth Account
Defined Benefit Plan Disclosure
Projected benefit obligation	825	807
Accumulated benefit obligation	800	774
Fair value of plan assets	801	753
Pension Plans | Pension Plans Restoration
Defined Benefit Plan Disclosure
Projected benefit obligation	116	105
Accumulated benefit obligation	108	95
Fair value of plan assets	0	0
Pension Plans | International
Defined Benefit Plan Disclosure
Projected benefit obligation	541	522	$ 562
Accumulated benefit obligation	484	467
Fair value of plan assets	567	541	579
Defined benefit plans with obligations in excess of plan assets:
Pension plans with projected benefit obligations in excess of the plans' assets, aggregate projected benefit obligations	102	275
Pension plans with projected benefit obligations in excess of the plans' assets, aggregate fair value of plan assets	3	179
Defined benefit plans with accumulated benefit obligations in excess of plan assets:
Pension plans with accumulated benefit obligations in excess of the plans' assets, aggregate accumulated benefit obligations	89	84
Pension plans with accumulated benefit obligations in excess of the plans' assets, aggregate fair value of plan assets	3	3
Other than Pension Plans
Defined Benefit Plan Disclosure
Projected benefit obligation	144	176	177
Accumulated benefit obligation	0	0
Fair value of plan assets	$ 0	$ 2	$ 14

PENSION, DEFERRED COMPENSATIO_8

PENSION, DEFERRED COMPENSATION AND POST-RETIREMENT BENEFIT PLANS - Expected Cash Flows for the Company's Pension and Post-Retirement Plans (Details) $ in Millions	Jun. 30, 2024 USD ($)
Pension Plans | U.S.
Expected cash flows for the Company's pension and post-retirement plans
Expected employer contributions for year ending June 30, 2025	$ 65
Expected benefit payments for year ending June 30, 2025	89
Expected benefit payments for year ending June 30, 2026	63
Expected benefit payments for year ending June 30, 2027	62
Expected benefit payments for year ending June 30, 2028	63
Expected benefit payments for year ending June 30, 2029	65
Expected benefit payments for year ending June 30, Years 2030-2034	334
Pension Plans | International
Expected cash flows for the Company's pension and post-retirement plans
Expected employer contributions for year ending June 30, 2025	29
Expected benefit payments for year ending June 30, 2025	40
Expected benefit payments for year ending June 30, 2026	34
Expected benefit payments for year ending June 30, 2027	33
Expected benefit payments for year ending June 30, 2028	32
Expected benefit payments for year ending June 30, 2029	33
Expected benefit payments for year ending June 30, Years 2030-2034	169
Other than Pension Plans
Expected cash flows for the Company's pension and post-retirement plans
Expected employer contributions for year ending June 30, 2025	13
Expected benefit payments for year ending June 30, 2025	13
Expected benefit payments for year ending June 30, 2026	10
Expected benefit payments for year ending June 30, 2027	10
Expected benefit payments for year ending June 30, 2028	11
Expected benefit payments for year ending June 30, 2029	11
Expected benefit payments for year ending June 30, Years 2030-2034	$ 53

PENSION, DEFERRED COMPENSATIO_9

PENSION, DEFERRED COMPENSATION AND POST-RETIREMENT BENEFIT PLANS - Company's Target Asset Allocation (Details) - Pension Plans	Jun. 30, 2024
U.S.
Company's target asset allocation
Target asset allocation (as a percent)	100%
U.S. | Equity
Company's target asset allocation
Target asset allocation (as a percent)	39%
U.S. | Debt securities
Company's target asset allocation
Target asset allocation (as a percent)	50%
U.S. | Other
Company's target asset allocation
Target asset allocation (as a percent)	11%
International
Company's target asset allocation
Target asset allocation (as a percent)	100%
International | Equity
Company's target asset allocation
Target asset allocation (as a percent)	20%
International | Debt securities
Company's target asset allocation
Target asset allocation (as a percent)	58%
International | Other
Company's target asset allocation
Target asset allocation (as a percent)	22%

PENSION, DEFERRED COMPENSATI_10

PENSION, DEFERRED COMPENSATION AND POST-RETIREMENT BENEFIT PLANS - Fair Values of the Company's Pension and Post-Retirement Plan Assets by Asset Category (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Defined Benefit Plan Disclosure
Fair value of plan assets	$ 1,368	$ 1,296
Level 1
Defined Benefit Plan Disclosure
Fair value of plan assets	440	334
Level 2
Defined Benefit Plan Disclosure
Fair value of plan assets	670	698
Level 3
Defined Benefit Plan Disclosure
Fair value of plan assets	14	8
Assets Measured at NAV
Defined Benefit Plan Disclosure
Fair value of plan assets	244	256
Cash and cash equivalents
Defined Benefit Plan Disclosure
Fair value of plan assets	2	2
Cash and cash equivalents | Level 1
Defined Benefit Plan Disclosure
Fair value of plan assets	2	2
Cash and cash equivalents | Level 2
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Cash and cash equivalents | Level 3
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Cash and cash equivalents | Assets Measured at NAV
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Short-term investment funds
Defined Benefit Plan Disclosure
Fair value of plan assets	31	15
Short-term investment funds | Level 1
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Short-term investment funds | Level 2
Defined Benefit Plan Disclosure
Fair value of plan assets	28	12
Short-term investment funds | Level 3
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Short-term investment funds | Assets Measured at NAV
Defined Benefit Plan Disclosure
Fair value of plan assets	3	3
Government and agency securities
Defined Benefit Plan Disclosure
Fair value of plan assets	137	139
Government and agency securities | Level 1
Defined Benefit Plan Disclosure
Fair value of plan assets	137	0
Government and agency securities | Level 2
Defined Benefit Plan Disclosure
Fair value of plan assets	0	139
Government and agency securities | Level 3
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Government and agency securities | Assets Measured at NAV
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Commingled funds
Defined Benefit Plan Disclosure
Fair value of plan assets	$ 1,091	1,022
Commingled funds | Minimum
Defined Benefit Plan Disclosure
Monthly and/or quarterly redemption notice period	10 days
Commingled funds | Maximum
Defined Benefit Plan Disclosure
Monthly and/or quarterly redemption notice period	30 days
Commingled funds | Level 1
Defined Benefit Plan Disclosure
Fair value of plan assets	$ 301	332
Commingled funds | Level 2
Defined Benefit Plan Disclosure
Fair value of plan assets	642	547
Commingled funds | Level 3
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Commingled funds | Assets Measured at NAV
Defined Benefit Plan Disclosure
Fair value of plan assets	148	143
Insurance contracts
Defined Benefit Plan Disclosure
Fair value of plan assets	14	8
Insurance contracts | Level 1
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Insurance contracts | Level 2
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Insurance contracts | Level 3
Defined Benefit Plan Disclosure
Fair value of plan assets	14	8	$ 46
Insurance contracts | Assets Measured at NAV
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Interests in limited partnerships and hedge fund investments
Defined Benefit Plan Disclosure
Fair value of plan assets	$ 93	110
Interests in limited partnerships and hedge fund investments | Minimum
Defined Benefit Plan Disclosure
Monthly and/or quarterly redemption notice period	30 days
Interests in limited partnerships and hedge fund investments | Maximum
Defined Benefit Plan Disclosure
Monthly and/or quarterly redemption notice period	90 days
Interests in limited partnerships and hedge fund investments | Level 1
Defined Benefit Plan Disclosure
Fair value of plan assets	$ 0	0
Interests in limited partnerships and hedge fund investments | Level 2
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Interests in limited partnerships and hedge fund investments | Level 3
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Interests in limited partnerships and hedge fund investments | Assets Measured at NAV
Defined Benefit Plan Disclosure
Fair value of plan assets	$ 93	$ 110

PENSION, DEFERRED COMPENSATI_11

PENSION, DEFERRED COMPENSATION AND POST-RETIREMENT BENEFIT PLANS - Changes in Level 3 Plan Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Changes in Level 3 plan assets
Fair value of plan assets at beginning of year	$ 1,296
Actual return on plan assets:
Fair value of plan assets at end of year	1,368	$ 1,296
Level 3
Changes in Level 3 plan assets
Fair value of plan assets at beginning of year	8
Actual return on plan assets:
Fair value of plan assets at end of year	14	8
Insurance contracts
Changes in Level 3 plan assets
Fair value of plan assets at beginning of year	8
Actual return on plan assets:
Fair value of plan assets at end of year	14	8
Insurance contracts | Level 3
Changes in Level 3 plan assets
Fair value of plan assets at beginning of year	8	46
Actual return on plan assets:
Relating to assets still held at the reporting date	1	(2)
Purchases, sales, issuances and settlements, net	5	(35)
Foreign exchange impact	0	(1)
Fair value of plan assets at end of year	$ 14	$ 8

PENSION, DEFERRED COMPENSATI_12

PENSION, DEFERRED COMPENSATION AND POST-RETIREMENT BENEFIT PLANS - 401(k) Savings Plan (U.S.) and Deferred Compensation (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
401(k) Savings Plan (U.S.)
Minimum period following date of hire after which full-time employees become eligible to participate in the savings plan	30 days
Minimum service period after which the Company matches a portion of the participant's contributions	1 year
Company's contribution to contributory defined contribution plan	$ 51	$ 50	$ 47
Deferred Compensation
Accrued amount of deferred compensation and interest thereon	44	58
Deferred compensation expense (income) to reflect additional deferrals and change in market value (in dollars)	$ (14)	$ (7)	$ (33)

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	12 Months Ended
	Jun. 30, 2024 USD ($)
Debt service, Payments Due in Fiscal
Debt service	$ 11,845
Debt service, Payments Due in Fiscal 2025	794
Debt service, Payments Due in Fiscal 2026	288
Debt service, Payments Due in Fiscal 2027	788
Debt service, Payments Due in Fiscal 2028	973
Debt service, Payments Due in Fiscal 2029	242
Debt service, Payments Due in Fiscal Thereafter	8,760
Unconditional purchase obligations, Payments Due in Fiscal
Unconditional purchase obligations	2,370
Unconditional purchase obligations, Payments Due in Fiscal 2025	1,463
Unconditional purchase obligations, Payments Due in Fiscal 2026	373
Unconditional purchase obligations, Payments Due in Fiscal 2027	317
Unconditional purchase obligations, Payments Due in Fiscal 2028	98
Unconditional purchase obligations, Payments Due in Fiscal 2029	21
Unconditional purchase obligations, Payments Due in Fiscal Thereafter	98
Gross unrecognized tax benefits and interest - current, Payments Due in Fiscal
Gross unrecognized tax benefits and interest - current	2
Gross unrecognized tax benefits and interest - current, Payments Due in Fiscal 2025	2
Gross unrecognized tax benefits and interest - current, Payments Due in Fiscal 2026	0
Gross unrecognized tax benefits and interest - current, Payments Due in Fiscal 2027	0
Gross unrecognized tax benefits and interest - current, Payments Due in Fiscal 2028	0
Gross unrecognized tax benefits and interest - current, Payments Due in Fiscal 2029	0
Gross unrecognized tax benefits and interest - current, Payments Due Thereafter	0
Transition Tax payable, Payments Due in Fiscal
Transition Tax payable	146
Transition Tax payable, Payments Due in Fiscal 2025	65
Transition Tax payable, Payments Due in Fiscal 2026	81
Transition Tax payable, Payments Due in Fiscal 2027	0
Transition Tax payable, Payments Due in Fiscal 2028	0
Transition Tax payable, Payments Due in Fiscal 2029	0
Transition Tax payable, Payments Due in Fiscal Thereafter	0
Total contractual obligations, Payments Due in Fiscal
Total contractual obligations	14,363
Total contractual obligations, Payments Due in Fiscal 2025	2,324
Total contractual obligations, Payments Due in Fiscal 2026	742
Total contractual obligations, Payments Due in Fiscal 2027	1,105
Total contractual obligations, Payments Due in Fiscal 2028	1,071
Total contractual obligations, Payments Due in Fiscal 2029	263
Total contractual obligations, Payments Due in Fiscal Thereafter	8,858
Projected interest costs on long-term and current debt, payments Due in fiscal
Projected interest costs on long-term and current debt Due in fiscal 2025	293
Projected interest costs on long-term and current debt Due in fiscal 2026	288
Projected interest costs on long-term and current debt Due in fiscal 2027	288
Projected interest costs on long-term and current debt Due in fiscal 2028	273
Projected interest costs on long-term and current debt Due in fiscal 2029	242
Projected interest costs on long-term and current debt Due in fiscal Thereafter	2,509
Noncurrent unrecognized tax benefits, accrued interest and penalties	$ 80
Transition tax repayment period (in years)	8 years

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Narrative (Details) - Cosmetic Talcum Powder Matters - case	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Loss Contingencies [Line Items]
Pending cases	273	185
New cases filed	200
Cases resolved	112

COMMON STOCK - Narrative (Detai

COMMON STOCK - Narrative (Details)						12 Months Ended
	Aug. 16, 2024 $ / shares	Apr. 30, 2024 $ / shares	Feb. 02, 2024 $ / shares	Oct. 31, 2023 $ / shares	Aug. 17, 2023 $ / shares	Jun. 30, 2024 vote $ / shares shares	Jun. 30, 2023 $ / shares shares	Jun. 30, 2022 $ / shares
Class of Stock
Common stock, par value (in dollars per share)						$ 0.01	$ 0.01
Cash dividends declared per common share (in dollars per share)						$ 2.64	$ 2.58	$ 2.33
Common Class A
Class of Stock
Common stock, shares authorized | shares						1,300,000,000	1,300,000,000
Common stock, par value (in dollars per share)						$ 0.01
Common stock, votes per share | vote						1
Remaining authorized share repurchase balance (in shares) | shares						25,100,000
Cash dividends declared per common share (in dollars per share)		$ 0.66	$ 0.66	$ 0.66	$ 0.66
Common Class A | Subsequent Event
Class of Stock
Cash dividends declared per common share (in dollars per share)	$ 0.66
Common Class B
Class of Stock
Common stock, shares authorized | shares						304,000,000	304,000,000
Common stock, par value (in dollars per share)						$ 0.01
Common stock, votes per share | vote						10
Cash dividends declared per common share (in dollars per share)		$ 0.66	$ 0.66	$ 0.66	$ 0.66
Common Class B | Subsequent Event
Class of Stock
Cash dividends declared per common share (in dollars per share)	$ 0.66

COMMON STOCK - Common Stock Out

COMMON STOCK - Common Stock Outstanding (Details) - shares	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Common Class A
Increase (Decrease) in Stockholders' Equity
Balance at the beginning of the period (in shares)	232,077,900	231,513,500	233,517,400
Acquisition of treasury stock (in shares)	(316,500)	(1,220,700)	(7,393,600)
Conversion of Class B to Class A (in shares)			2,700,000
Stock-based compensation (in shares)	1,385,200	1,785,100	2,689,700
Balance at the end of the period (in shares)	233,146,600	232,077,900	231,513,500
Common Class B
Increase (Decrease) in Stockholders' Equity
Balance at the beginning of the period (in shares)	125,542,029	125,542,000	128,242,000
Acquisition of treasury stock (in shares)	0	0	0
Conversion of Class B to Class A (in shares)			(2,700,000)
Stock-based compensation (in shares)	0	0	0
Balance at the end of the period (in shares)	125,542,029	125,542,029	125,542,000

COMMON STOCK - Summary of Cash

COMMON STOCK - Summary of Cash Dividends Per Share (Details) - $ / shares									12 Months Ended
	Jun. 17, 2024	Apr. 30, 2024	Mar. 15, 2024	Feb. 02, 2024	Dec. 15, 2023	Oct. 31, 2023	Sep. 15, 2023	Aug. 17, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Class of Stock
Cash dividends declared per common share (in dollars per share)									$ 2.64	$ 2.58	$ 2.33
Common Class A
Class of Stock
Cash dividends declared per common share (in dollars per share)		$ 0.66		$ 0.66		$ 0.66		$ 0.66
Cash dividends paid per common share (in dollars per share)	$ 0.66		$ 0.66		$ 0.66		$ 0.66
Common Class B
Class of Stock
Cash dividends declared per common share (in dollars per share)		$ 0.66		$ 0.66		$ 0.66		$ 0.66
Cash dividends paid per common share (in dollars per share)	$ 0.66		$ 0.66		$ 0.66		$ 0.66

STOCK PROGRAMS - Narrative (Det

STOCK PROGRAMS - Narrative (Details) $ / shares in Units, $ in Millions		1 Months Ended				12 Months Ended
	Sep. 03, 2024 shares	Aug. 31, 2023 shares	Mar. 31, 2021 USD ($) tranche shares	Feb. 28, 2018 USD ($) tranche shares	Sep. 30, 2015 tranche shares	Jun. 30, 2024 USD ($) tranche plan $ / shares shares	Jun. 30, 2023 USD ($) shares	Jun. 30, 2022 USD ($) shares	Jun. 30, 2021 $ / shares	Sep. 04, 2015 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award
Number of active equity compensation plans | plan						2
Total unrecognized compensation cost related to unvested stock-based awards | $						$ 208
Weighted-average period over which compensation cost related to unvested stock-based awards is expected to be recognized						1 year
Deferred compensation income to reflect additional deferrals and change in market value (in dollars) | $						$ 14	$ 7	$ 33
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]						Selling, general and administrative	Selling, general and administrative	Selling, general and administrative
Level 3 | Recurring basis
Share-based Compensation Arrangement by Share-based Payment Award
Changes in fair value, net of foreign currency remeasurements | $						$ 13	$ 22	$ (55)
Stock Options | Company Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award
Maximum exercise period for all stock options from the date of grant						10 years
Number of substantively equal tranches in which stock options grants become exercisable | tranche						3
Service period over which stock option grants generally become exercisable in substantively equal tranches						4 years
Stock Options | DECIEM 2021 Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award
Service period over which stock option grants generally become exercisable in substantively equal tranches						2 years
Weighted-average grant date fair value (in dollars per share) | $ / shares									$ 1,557
Stock option liability | $						$ 0	$ 99
Employer-related payroll taxes | $						10
Intrinsic value | $						$ 114
Stock Options | DECIEM 2021 Stock Option Plan | Minimum
Share-based Compensation Arrangement by Share-based Payment Award
Number of substantively equal tranches in which stock options grants become exercisable | tranche						2
Stock Options | DECIEM 2021 Stock Option Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award
Number of substantively equal tranches in which stock options grants become exercisable | tranche						7
Restricted Stock Units (RSUs) | Employee
Share-based Compensation Arrangement by Share-based Payment Award
Granted (in shares)						1,606,100
Weighted-average grant date fair value (in dollars per share) | $ / shares						$ 155.82
Vested (in shares)						849,700
Restricted Stock Units (RSUs) | Employee | RSU grants scheduled to vest in fiscal 2025
Share-based Compensation Arrangement by Share-based Payment Award
Vested (in shares)						600,000
Restricted Stock Units (RSUs) | Employee | RSU grants scheduled to vest in fiscal 2026
Share-based Compensation Arrangement by Share-based Payment Award
Vested (in shares)						600,000
Restricted Stock Units (RSUs) | Employee | RSU grants scheduled to vest in fiscal 2027
Share-based Compensation Arrangement by Share-based Payment Award
Vested (in shares)						400,000
Performance Share Units | Employee
Share-based Compensation Arrangement by Share-based Payment Award
Granted (in shares)						164,500
Weighted-average grant date fair value (in dollars per share) | $ / shares						$ 156.39
Vesting period						3 years
Vested (in shares)		200,000				44,800
Long-term Performance Share Units | Performance period ending June 30, 2018 through 2020
Share-based Compensation Arrangement by Share-based Payment Award
Common stock issued (in shares)							387,848
Cash Units
Share-based Compensation Arrangement by Share-based Payment Award
Deferred compensation income to reflect additional deferrals and change in market value (in dollars) | $						$ 13	$ 8	$ 5
Common Class A
Share-based Compensation Arrangement by Share-based Payment Award
Number of Class A Common Stock shares authorized under active equity compensation plans (in shares)						88,800,000
Number of Class A Common Stock shares reserved and available to be granted pursuant to equity compensation plans (in shares)						7,100,000
Common stock issued (in shares)						1,385,200	1,785,100	2,689,700
Common Class A | Restricted Stock Units (RSUs) | Employee
Share-based Compensation Arrangement by Share-based Payment Award
Weighted-average grant date fair value (in dollars per share) | $ / shares						$ 155.82
Common Class A | Performance Share Units | Employee
Share-based Compensation Arrangement by Share-based Payment Award
Weighted-average grant date fair value (in dollars per share) | $ / shares						$ 156.39
Payout for performance share units in Class A Common Stock (in shares)						200,000
Common stock issued (in shares)		100,000
Common Class A | Long-term Performance Share Units | Employee | Forecast
Share-based Compensation Arrangement by Share-based Payment Award
Common stock issued (in shares)	195,940
Common Class A | Long-term Performance Share Units | Employee | Executive
Share-based Compensation Arrangement by Share-based Payment Award
Granted (in shares)			68,578
Payout for performance share units in Class A Common Stock (in shares)				195,940	387,848
Number of tranches | tranche				2	3
Grant date fair value (in USD) | $			$ 20	$ 27						$ 30
Common Class A | Long-term Performance Share Units | Employee | Performance periods ending June 30, 2018, 2019 and 2020 | Executive
Share-based Compensation Arrangement by Share-based Payment Award
Payout for performance share units in Class A Common Stock (in shares)					129,283
Common Class A | Long-term Performance Share Units | Employee | Share Based Compensation Award Performance Period 2021 and 2022 | Executive
Share-based Compensation Arrangement by Share-based Payment Award
Payout for performance share units in Class A Common Stock (in shares)				97,970
Common Class A | Long-Term Price-Vested Units | Employee | Executive
Share-based Compensation Arrangement by Share-based Payment Award
Granted (in shares)			85,927
Number of tranches | tranche			3
Grant date fair value (in USD) | $			$ 20
Consecutive trading days			20 days

STOCK PROGRAMS - Schedule of St

STOCK PROGRAMS - Schedule of Stock-Based Compensation Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award
Compensation expense	$ 325	$ 267	$ 331
Income tax benefit	$ 58	$ 52	$ 51

STOCK PROGRAMS - Summary of Sto

STOCK PROGRAMS - Summary of Stock Option Programs (Details) $ / shares in Units, $ in Millions	12 Months Ended
	Jun. 30, 2024 USD ($) $ / shares shares
Company Stock Option Plan
Shares
Outstanding at the beginning of the year (in shares) | shares	7,497,100
Grant at fair value (in shares) | shares	1,780,600
Exercised (in shares) | shares	(480,700)
Expired (in shares) | shares	(161,300)
Forfeited (in shares) | shares	(140,000)
Outstanding at the end of the period (in shares) | shares	8,495,700
Vested and expected to vest (in shares) | shares	8,415,700
Exercisable (in shares) | shares	5,842,700
Weighted-Average Exercise Price Per Share
Outstanding at the beginning of the year (in dollars per share) | $ / shares	$ 184.41
Weighted-average grant date fair value (in dollars per share) | $ / shares	155.92
Exercise price (in dollars per share) | $ / shares	81.57
Expired (in dollars per share) | $ / shares	240
Forfeited (in dollars per share) | $ / shares	199.73
Outstanding at the end of the period (in dollars per share) | $ / shares	182.95
Vested and expected to vest Weighted-Average Exercise Price (in dollars per share) | $ / shares	182.95
Exercisable Weighted-Average Exercise Price (in dollars per share) | $ / shares	$ 175.76
Additional General Disclosures
Outstanding Aggregate Intrinsic Value (in dollars) | $	$ 32
Outstanding, Weighted-Average Contractual Life Remaining	6 years
Vested and expected to vest, Aggregate Intrinsic Value (in dollars) | $	$ 32
Vested and expected to vest, Weighted-Average Contractual Life Remaining	6 years
Exercisable, Aggregate Intrinsic Value (in dollars) | $	$ 32
Exercisable, Weighted-Average Contractual Life Remaining	5 years
DECIEM 2021 Stock Option Plan
Shares
Outstanding at the beginning of the year (in shares) | shares	94,100,000
Grant at fair value (in shares) | shares	0
Exercised (in shares) | shares	(94,100,000)
Expired (in shares) | shares	0
Forfeited (in shares) | shares	0
Outstanding at the end of the period (in shares) | shares	0
Weighted-Average Exercise Price Per Share
Outstanding at the beginning of the year (in dollars per share) | $ / shares	$ 58.48
Weighted-average grant date fair value (in dollars per share) | $ / shares	0
Exercise price (in dollars per share) | $ / shares	56.65
Expired (in dollars per share) | $ / shares	0
Forfeited (in dollars per share) | $ / shares	0
Outstanding at the end of the period (in dollars per share) | $ / shares	$ 0

STOCK PROGRAMS - Summary of Wei

STOCK PROGRAMS - Summary of Weighted-Average Grant Date Fair Value and Intrinsic Value of Stock Options Exercised (Details) - Company Stock Option Plan - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award
Per-share weighted-average grant date fair value of stock options granted (in dollars per share)	$ 52.83	$ 79.09	$ 85.56
Intrinsic value of stock options exercised	$ 31	$ 93	$ 276

STOCK PROGRAMS - Summary of Res

STOCK PROGRAMS - Summary of Restricted Stock Units (RSUs) (Details) - Restricted Stock Units (RSUs) - Employee - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Shares
Nonvested at the beginning of the period (in shares)	1,789,900
Granted (in shares)	1,606,100
Dividend equivalents (in shares)	45,000
Vested (in shares)	(849,700)
Forfeited (in shares)	(148,800)
Nonvested at the end of the period (in shares)	2,442,500	1,789,900
Weighted-Average Grant Date Fair Value
Nonvested at the beginning of the period (in dollars per share)	$ 265.04
Granted (in dollars per share)	155.82
Dividend equivalents (in dollars per share)	200.19
Vested (in dollars per share)	262.76
Forfeited (in dollars per share)	201.52
Nonvested at the end of the period (in dollars per share)	$ 196.69	$ 265.04
Fair value	$ 91.6	$ 155.5	$ 307.4

STOCK PROGRAMS - Summary of Per

STOCK PROGRAMS - Summary of Performance Share Units (PSUs) (Details) - Performance Share Units - Employee - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	12 Months Ended
	Aug. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Other Equity Compensation Plans
Nonvested at the beginning of the period (in shares)		365,200
Granted (in shares)		164,500
Vested and issued (in shares)	(200,000)	(44,800)
Forfeited (in shares)		(111,000)
Nonvested at the end of the period (in shares)		373,900	365,200
Weighted-Average Grant Date Fair Value
Nonvested at the beginning of the period (in dollars per share)		$ 260.90
Granted (in dollars per share)		156.39
Vested and issued (in dollars per share)		218.12
Forfeited (in dollars per share)		217.85
Nonvested at the end of the period (in dollars per share)		$ 232.83	$ 260.90
Fair value		$ 7.3	$ 66.6	$ 108.9

STOCK PROGRAMS - Schedule of Lo

STOCK PROGRAMS - Schedule of Long-Term Price Vested Units (Details) - Long-Term Price-Vested Units - Executive - Employee - Common Class A	1 Months Ended
	Mar. 31, 2021 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award
Number of Shares per Tranche	85,927
First tranche
Share-based Compensation Arrangement by Share-based Payment Award
Number of Shares per Tranche	27,457
Stock Price Goal (per Share) | $ / shares	$ 323.03
Second tranche
Share-based Compensation Arrangement by Share-based Payment Award
Number of Shares per Tranche	28,598
Stock Price Goal (per Share) | $ / shares	$ 333.21
Third tranche
Share-based Compensation Arrangement by Share-based Payment Award
Number of Shares per Tranche	29,872
Stock Price Goal (per Share) | $ / shares	$ 343.61

STOCK PROGRAMS - Schedule of As

STOCK PROGRAMS - Schedule of Assumptions Used For Award (Details)	1 Months Ended	12 Months Ended
	Mar. 31, 2021	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Long-Term Price-Vested Units
Share-based Compensation Arrangement by Share-based Payment Award
Expected volatility (as a percent)	31.80%
Dividend yield (as a percent)	0.80%
Risk-free rate (as a percent)	0.40%
Expected term	3 years 3 months 18 days
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award
Expected volatility (as a percent)		33.80%	30.80%	27.30%
Dividend yield (as a percent)		1.50%	0.80%	0.70%
Risk-free rate (as a percent)		4.30%	3.40%	0.90%
Expected term		6 years	6 years	6 years
Stock Options | DECIEM | DECIEM 2021 Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award
Risk-free rate (as a percent)			4.90%	3.20%
Expected term			5 months 15 days	1 year 5 months 1 day
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Operating Leverage Adjustment			0.45	0.45
Net sales discount rate (as a percent)			7.80%	6%
EBITDA discount rate (as a percent)			11.30%	9.40%
EBITDA volatility (as a percent)			32%	33.90%
Net sales volatility (as a percent)			14.40%	15.30%

STOCK PROGRAMS - Summary of Sta

STOCK PROGRAMS - Summary of Status of Share Units (Details) - Share Units - Non-employee - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Shares
Outstanding at the beginning of the period (in shares)	112,700
Granted (in shares)	8,700
Dividend equivalents (in shares)	2,200
Converted (in shares)	(10,000)
Outstanding at the end of the period (in shares)	113,600	112,700
Weighted-Average Grant Date Fair Value Per Share
Outstanding at the beginning of the period (in dollars per share)	$ 87.84
Weighted-average grant date fair value (in dollars per share)	123.81
Dividend equivalents (in dollars per share)	139.11
Converted (in dollars per share)	105.78
Outstanding at the end of the period (in dollars per share)	$ 90.02	$ 87.84
Intrinsic value	$ 1.5	$ 4.1	$ 8.5

CHANGES IN OWNERSHIP INTEREST_3

CHANGES IN OWNERSHIP INTEREST ON NET EARNINGS ATTRIBUTABLE TO THE ESTEE LAUDER COMPANIES INC. (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Temporary Equity Disclosure [Abstract]
Net earnings attributable to The Estée Lauder Companies Inc.	$ 390	$ 1,006	$ 2,390
Increase in paid-in capital as a result of the purchase of shares from redeemable noncontrolling interest	162	0	0
Purchase of shares from noncontrolling interests	0	0	(19)
Total effect of changes in ownership interest on equity attributable to The Estée Lauder Companies Inc.	$ 552	$ 1,006	$ 2,371

NET EARNINGS ATTRIBUTABLE TO _3

NET EARNINGS ATTRIBUTABLE TO THE ESTEE LAUDER COMPANIES INC. PER COMMON SHARE - Reconciliation Between Numerator and Denominator of Basic and Diluted EPS Computations (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Numerator:
Net earnings attributable to The Estée Lauder Companies Inc.	$ 390	$ 1,006	$ 2,390
Denominator:
Weighted-average common shares outstanding- Basic (in shares)	359	357.9	360
Weighted-average common shares outstanding - Diluted (in shares)	360.8	360.9	364.9
Net earnings attributable to The Estee Lauder Companies Inc. per common share:
Basic (in dollars per share)	$ 1.09	$ 2.81	$ 6.64
Diluted (in dollars per share)	$ 1.08	$ 2.79	$ 6.55
Stock Options
Denominator:
Effect (in shares)	0.9	2.3	3.7
Performance Share Units
Denominator:
Effect (in shares)	0.2	0.1	0.2
Restricted Stock Units
Denominator:
Effect (in shares)	0.7	0.6	1

NET EARNINGS ATTRIBUTABLE TO _4

NET EARNINGS ATTRIBUTABLE TO THE ESTEE LAUDER COMPANIES INC. PER COMMON SHARE - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares shares in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Stock Options
Antidilutive Securities Excluded from Computation of Earnings, Per Share
Antidilutive shares excluded from the calculation of diluted earnings per share (in shares)	5.9	2.4	0.9
Restricted Stock Units and Performance Shares
Antidilutive Securities Excluded from Computation of Earnings, Per Share
Antidilutive shares excluded from the calculation of diluted earnings per share (in shares)	0.4	0.1	0.1

NET EARNINGS ATTRIBUTABLE TO _5

NET EARNINGS ATTRIBUTABLE TO THE ESTEE LAUDER COMPANIES INC. PER COMMON SHARE - Narrative (Details) - shares shares in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Contingently Issuable Shares
Antidilutive Securities Excluded from Computation of Earnings, Per Share
Antidilutive shares excluded from the calculation of diluted earnings per share (in shares)	0.4	0.4	0.7

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE LOSS - Changes in AOCI by Component (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Changes in AOCI, net of tax by component
Beginning of the period	$ 5,585	$ 5,590
Amount of (Gain) Loss Reclassified from AOCI into Earnings	(50)	(70)
Benefit (provision) for income taxes	(6)	51	$ (61)
End of the period	5,314	5,585	5,590
Accumulated other comprehensive loss	(1,140)	(934)
AOCI
Changes in AOCI, net of tax by component
Beginning of the period	(934)	(762)	(470)
End of the period	(1,140)	(934)	(762)
Accumulated other comprehensive loss	(1,140)	(934)	(762)
Net derivative instruments
Changes in AOCI, net of tax by component
Beginning of the period	44	68	(2)
Other comprehensive income (loss), before reclassifications, before tax	79	48	93
Benefit (provision) for income taxes	(18)	(11)	(21)
Benefit (provision) for deferred income taxes on reclassification	16	18	0
End of the period	52	44	68
Net derivative instruments | Foreign currency forward contracts
Changes in AOCI, net of tax by component
Amount of (Gain) Loss Reclassified from AOCI into Earnings	(50)	(71)	(3)
Net derivative instruments | Interest rate-related derivatives
Changes in AOCI, net of tax by component
Amount of (Gain) Loss Reclassified from AOCI into Earnings	0	1	1
Net derivative instruments | Cross-currency swap contracts
Changes in AOCI, net of tax by component
Amount of (Gain) Loss Reclassified from AOCI into Earnings	(19)	(9)	0
Amounts Included in Net Periodic Benefit Cost
Changes in AOCI, net of tax by component
Beginning of the period	(177)	(114)	(179)
End of the period	(183)	(177)	(114)
Net actuarial gains (losses) recognized
Changes in AOCI, net of tax by component
Other comprehensive income (loss), before reclassifications, before tax	(27)	(79)	71
Amount of (Gain) Loss Reclassified from AOCI into Earnings	(4)	0	18
Net prior service cost (credit) recognized
Changes in AOCI, net of tax by component
Other comprehensive income (loss), before reclassifications, before tax	25	0	(1)
Amount of (Gain) Loss Reclassified from AOCI into Earnings	(3)	(1)	(1)
Translation adjustments
Changes in AOCI, net of tax by component
Other comprehensive income (loss), before reclassifications, before tax	1	(1)	0
Settlements
Changes in AOCI, net of tax by component
Amount of (Gain) Loss Reclassified from AOCI into Earnings	0	1	0
Benefit (provision) for income taxes
Changes in AOCI, net of tax by component
Benefit (provision) for income taxes	0	17	(18)
Provision for deferred income taxes on reclassification
Changes in AOCI, net of tax by component
Benefit (provision) for deferred income taxes on reclassification	2	0	(4)
Translation adjustments
Changes in AOCI, net of tax by component
Beginning of the period	(801)	(716)	(289)
Other comprehensive income (loss), before reclassifications, before tax	(129)	(112)	(409)
Purchase of shares from redeemable noncontrolling interest	(73)	0	0
Benefit (provision) for income taxes	(6)	27	(18)
End of the period	$ (1,009)	$ (801)	$ (716)

STATEMENT OF CASH FLOWS (Detail

STATEMENT OF CASH FLOWS (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Cash:
Cash paid during the year for interest	$ 359	$ 235	$ 163
Cash paid during the year for income taxes	550	665	760
Non-cash investing and financing activities:
Capitalized interest and asset retirement obligations incurred	5	13	6
Deferred consideration payable	0	300	38
Property, plant and equipment accrued but unpaid	$ 42	$ 246	$ 106

SEGMENT DATA AND RELATED INFO_3

SEGMENT DATA AND RELATED INFORMATION - Narrative (Details) $ in Millions	12 Months Ended
	Jun. 30, 2024 USD ($) segment	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)
SEGMENT DATA AND RELATED INFORMATION
Number of operating segments | segment	1
Net sales	$ 15,608	$ 15,910	$ 17,737
Long-lived assets	4,969	4,976	4,599
U.S.
SEGMENT DATA AND RELATED INFORMATION
Net sales	3,887	3,848	4,009
Long-lived assets	$ 2,087	$ 2,136	$ 2,153
Mainland China | Geographic Concentration Risk | Revenue from Contract with Customer Benchmark
SEGMENT DATA AND RELATED INFORMATION
Percentage of net sales (as a percent)	26%	28%	34%
Korea | Geographic Concentration Risk | Revenue from Contract with Customer Benchmark
SEGMENT DATA AND RELATED INFORMATION
Percentage of net sales (as a percent)	8%	10%	11%

SEGMENT DATA AND RELATED INFO_4

SEGMENT DATA AND RELATED INFORMATION - Schedule of Segment Data and Related Information (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Net sales:
Net sales before returns associated with restructuring and other activities	$ 15,609	$ 15,937	$ 17,741
Charges associated with restructuring and other activities	(124)	(85)	(144)
Net sales	15,608	15,910	17,737
Depreciation and amortization:
Depreciation and amortization	825	744	727
Operating income (loss) before charges associated with restructuring and other activities:
Operating income (loss) before charges associated with restructuring activities	1,094	1,594	3,314
Operating income	970	1,509	3,170
Reconciliation:
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 Operating Income (Expense), Net	0	0	1
Earnings before income taxes	772	1,397	3,036
ASSETS
Total assets	21,677	23,415	20,910
Long-lived assets
Long-lived assets	4,969	4,976	4,599
Sales Returns (included in Net Sales)
Net sales:
Charges associated with restructuring and other activities	(1)	(27)	(4)
Restructuring and other charges
Net sales:
Charges associated with restructuring and other activities	(124)	(85)	(144)
The Americas
Net sales:
Net sales before returns associated with restructuring and other activities	4,581	4,518	4,623
Operating income (loss) before charges associated with restructuring and other activities:
Operating income (loss) before charges associated with restructuring activities	34	(73)	1,159
ASSETS
Total assets	13,985	13,292	10,989
Long-lived assets
Long-lived assets	2,524	2,593	2,609
EMEA
Net sales:
Net sales before returns associated with restructuring and other activities	6,140	6,225	7,681
Operating income (loss) before charges associated with restructuring and other activities:
Operating income (loss) before charges associated with restructuring activities	836	843	1,360
ASSETS
Total assets	4,310	5,985	5,781
Long-lived assets
Long-lived assets	1,224	1,202	1,133
Asia/Pacific
Net sales:
Net sales before returns associated with restructuring and other activities	4,888	5,194	5,437
Operating income (loss) before charges associated with restructuring and other activities:
Operating income (loss) before charges associated with restructuring activities	224	824	795
ASSETS
Total assets	3,382	4,138	4,140
Long-lived assets
Long-lived assets	1,221	1,181	857
Skin Care
Net sales:
Net sales before returns associated with restructuring and other activities	7,908	8,249	9,902
Depreciation and amortization:
Depreciation and amortization	418	383	404
Operating income (loss) before charges associated with restructuring and other activities:
Operating income (loss) before charges associated with restructuring activities	735	1,277	2,776
Makeup
Net sales:
Net sales before returns associated with restructuring and other activities	4,470	4,532	4,670
Depreciation and amortization:
Depreciation and amortization	236	211	213
Operating income (loss) before charges associated with restructuring and other activities:
Operating income (loss) before charges associated with restructuring activities	93	(21)	126
Fragrance
Net sales:
Net sales before returns associated with restructuring and other activities	2,487	2,451	2,491
Depreciation and amortization:
Depreciation and amortization	132	117	89
Operating income (loss) before charges associated with restructuring and other activities:
Operating income (loss) before charges associated with restructuring activities	265	370	441
Hair Care
Net sales:
Net sales before returns associated with restructuring and other activities	629	652	631
Depreciation and amortization:
Depreciation and amortization	33	31	20
Operating income (loss) before charges associated with restructuring and other activities:
Operating income (loss) before charges associated with restructuring activities	(52)	(36)	(28)
Other
Net sales:
Net sales before returns associated with restructuring and other activities	115	53	47
Depreciation and amortization:
Depreciation and amortization	6	2	1
Operating income (loss) before charges associated with restructuring and other activities:
Operating income (loss) before charges associated with restructuring activities	$ 53	$ 4	$ (1)

SEGMENT DATA AND RELATED INFO_5

SEGMENT DATA AND RELATED INFORMATION - Schedule of Error Correction (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Error Corrections [Line Items]
Net sales before returns associated with restructuring and other activities	$ 15,609	$ 15,937	$ 17,741
Charges associated with restructuring and other activities	(124)	(85)	(144)
Net sales	15,608	15,910	17,737
Operating Income (Loss) before Total Returns and Charges Associated with Restructuring Activities	1,094	1,594	3,314
Operating income	970	1,509	3,170
Previously Reported
Error Corrections [Line Items]
Net sales before returns associated with restructuring and other activities		15,937	17,741
Charges associated with restructuring and other activities		(85)	(144)
Net sales		15,910	17,737
Operating Income (Loss) before Total Returns and Charges Associated with Restructuring Activities		1,594	3,314
Operating income		1,509	3,170
Revision of Prior Period, Error Correction, Adjustment
Error Corrections [Line Items]
Net sales before returns associated with restructuring and other activities		0	0
Charges associated with restructuring and other activities		0	0
Net sales		0	0
Operating Income (Loss) before Total Returns and Charges Associated with Restructuring Activities		0	0
Operating income		0	0
Sales Returns (included in Net Sales)
Error Corrections [Line Items]
Charges associated with restructuring and other activities	(1)	(27)	(4)
Sales Returns (included in Net Sales) | Previously Reported
Error Corrections [Line Items]
Charges associated with restructuring and other activities		(27)	(4)
Sales Returns (included in Net Sales) | Revision of Prior Period, Error Correction, Adjustment
Error Corrections [Line Items]
Charges associated with restructuring and other activities		0	0
Skin Care
Error Corrections [Line Items]
Net sales before returns associated with restructuring and other activities	7,908	8,249	9,902
Operating Income (Loss) before Total Returns and Charges Associated with Restructuring Activities	735	1,277	2,776
Skin Care | Previously Reported
Error Corrections [Line Items]
Net sales before returns associated with restructuring and other activities		8,202	9,886
Operating Income (Loss) before Total Returns and Charges Associated with Restructuring Activities		1,204	2,753
Skin Care | Revision of Prior Period, Error Correction, Adjustment
Error Corrections [Line Items]
Net sales before returns associated with restructuring and other activities		47	16
Operating Income (Loss) before Total Returns and Charges Associated with Restructuring Activities		73	23
Makeup
Error Corrections [Line Items]
Net sales before returns associated with restructuring and other activities	4,470	4,532	4,670
Operating Income (Loss) before Total Returns and Charges Associated with Restructuring Activities	93	(21)	126
Makeup | Previously Reported
Error Corrections [Line Items]
Net sales before returns associated with restructuring and other activities		4,516	4,667
Operating Income (Loss) before Total Returns and Charges Associated with Restructuring Activities		(22)	133
Makeup | Revision of Prior Period, Error Correction, Adjustment
Error Corrections [Line Items]
Net sales before returns associated with restructuring and other activities		16	3
Operating Income (Loss) before Total Returns and Charges Associated with Restructuring Activities		1	(7)
Fragrance
Error Corrections [Line Items]
Net sales before returns associated with restructuring and other activities	2,487	2,451	2,491
Operating Income (Loss) before Total Returns and Charges Associated with Restructuring Activities	265	370	441
Fragrance | Previously Reported
Error Corrections [Line Items]
Net sales before returns associated with restructuring and other activities		2,512	2,508
Operating Income (Loss) before Total Returns and Charges Associated with Restructuring Activities		440	456
Fragrance | Revision of Prior Period, Error Correction, Adjustment
Error Corrections [Line Items]
Net sales before returns associated with restructuring and other activities		(61)	(17)
Operating Income (Loss) before Total Returns and Charges Associated with Restructuring Activities		(70)	(15)
Hair Care
Error Corrections [Line Items]
Net sales before returns associated with restructuring and other activities	629	652	631
Operating Income (Loss) before Total Returns and Charges Associated with Restructuring Activities	(52)	(36)	(28)
Hair Care | Previously Reported
Error Corrections [Line Items]
Net sales before returns associated with restructuring and other activities		653	631
Operating Income (Loss) before Total Returns and Charges Associated with Restructuring Activities		(34)	(28)
Hair Care | Revision of Prior Period, Error Correction, Adjustment
Error Corrections [Line Items]
Net sales before returns associated with restructuring and other activities		(1)	0
Operating Income (Loss) before Total Returns and Charges Associated with Restructuring Activities		(2)	0
Other
Error Corrections [Line Items]
Net sales before returns associated with restructuring and other activities	115	53	47
Operating Income (Loss) before Total Returns and Charges Associated with Restructuring Activities	$ 53	4	(1)
Other | Previously Reported
Error Corrections [Line Items]
Net sales before returns associated with restructuring and other activities		54	49
Operating Income (Loss) before Total Returns and Charges Associated with Restructuring Activities		6	0
Other | Revision of Prior Period, Error Correction, Adjustment
Error Corrections [Line Items]
Net sales before returns associated with restructuring and other activities		(1)	(2)
Operating Income (Loss) before Total Returns and Charges Associated with Restructuring Activities		$ (2)	$ (1)

SCHEDULE II - VALUATION AND Q_2

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Allowance for doubtful accounts and customer deductions:
Reserves deducted in the balance sheet from the assets to which they apply:
Balance at Beginning of Period	$ 30	$ 27	$ 40
Additions Charged to Costs and Expenses	7	21	5
Additions Charged to Other Accounts	0	0	0
Deductions	11	18	18
Balance at End of Period	26	30	27
Deferred tax valuation allowance:
Reserves deducted in the balance sheet from the assets to which they apply:
Balance at Beginning of Period	200	185	168
Additions Charged to Costs and Expenses	47	36	41
Additions Charged to Other Accounts	0	0	0
Deductions	9	21	24
Balance at End of Period	$ 238	$ 200	$ 185