Cash paid / (received) on settlement of derivative

[Table of Contents](#i2ba0bd92bcb14d27a1d59d9667569d45_7)THE ESTÉE LAUDER COMPANIES INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTSAs of June 30, 2022, the Company’s long-term debt consisted of the following:

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| Notes |  | Issue Date |  | Price |  | Yield |  | Principal |  | UnamortizedDebt (Discount)Premium |  | Interest rateswapadjustments |  | DebtIssuanceCosts |  | Semi-annual interestpayments |
| ($ in millions) |  |   |  |   |  |   |  |   |  |   |  |   |  |   |  |   |
| 2049 Senior Notes(9) |  | November 2019 |  | 98.769  | % |  | 3.189  | % |  | $ | 650  |  |  | $ | (8) |  |  | $ | —  |  |  | $ | (6) |  |  | June 1/December 1 |
| 2047 Senior Notes(1),(9) |  | February 2017 |  | 99.739  |  |  | 4.165  |  |  | 500  |  |  | (1) |  |  | —  |  |  | (5) |  |  | March 15/September 15 |
| 2045 Senior Notes(2),(9) |  | June 2015 |  | 97.999  |  |  | 4.497  |  |  | 300  |  |  | (5) |  |  | —  |  |  | (3) |  |  | June 15/December 15 |
| 2045 Senior Notes(2),(9) |  | May 2016 |  | 110.847  |  |  | 3.753  |  |  | 150  |  |  | 14  |  |  | —  |  |  | (2) |  |  | June 15/December 15 |
| 2042 Senior Notes(9) |  | August 2012 |  | 99.567  |  |  | 3.724  |  |  | 250  |  |  | (1) |  |  | —  |  |  | (2) |  |  | February 15/August 15 |
| 2037 Senior Notes(3),(9) |  | May 2007 |  | 98.722  |  |  | 6.093  |  |  | 300  |  |  | (3) |  |  | —  |  |  | (3) |  |  | May 15/November 15 |
| 2033 Senior Notes(4),(9) |  | September 2003 |  | 98.645  |  |  | 5.846  |  |  | 200  |  |  | (2) |  |  | —  |  |  | (1) |  |  | April 15/October 15 |
| 2031 Senior Notes(5),(7),(9) |  | March 2021 |  | 99.340  |  |  | 2.023  |  |  | 600  |  |  | (3) |  |  | (32) |  |  | (4) |  |  | March 15/September 15 |
| 2030 Senior Notes(7),(9) |  | April 2020 |  | 99.816  |  |  | 2.621  |  |  | 700  |  |  | (1) |  |  | (83) |  |  | (3) |  |  | April 15/October 15 |
| 2029 Senior Notes(8),(9) |  | November 2019 |  | 99.046  |  |  | 2.483  |  |  | 650  |  |  | (5) |  |  | —  |  |  | (3) |  |  | June 1/December 1 |
| 2027 Senior Notes(6),(9) |  | February 2017 |  | 99.963  |  |  | 3.154  |  |  | 500  |  |  | —  |  |  | —  |  |  | (2) |  |  | March 15/September 15 |
| 2024 Senior Notes(9) |  | November 2019 |  | 99.421  |  |  | 2.122  |  |  | 500  |  |  | (1) |  |  | —  |  |  | (1) |  |  | June 1/December 1 |
| 2022 Senior Notes(7),(9) |  | August 2012 |  | 99.911  |  |  | 2.360  |  |  | 250  |  |  | —  |  |  | —  |  |  | —  |  |  | February 15/August 15 |
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(1)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.(2)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.(3)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.(4)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.(5)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.(6)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.(7)The Company entered into interest rate swap agreements with a notional amount totaling $250 million, $700 million and $300 million to effectively convert the fixed rate interest on its outstanding 2022 Senior Notes, 2030 Senior Notes and 2031 Senior Notes to variable interest rates based on three months LIBOR plus a margin.(8)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.(9)The Senior Notes contain certain customary covenants, including limitations on indebtedness secured by liens.  
  
  
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