Acquired redeemable noncontrolling interest

[Table of Contents](#i2ba0bd92bcb14d27a1d59d9667569d45_7)  
THE ESTÉE LAUDER COMPANIES INC.CONSOLIDATED STATEMENTS OF EQUITY AND REDEEMABLE NONCONTROLLING INTEREST

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Year Ended June 30 |
| (In millions) | 2022 |  | 2021 |  | 2020 |
|  |  |  |  |  |  |
| Common stock, beginning of year | $ | 6  |  |  | $ | 6  |  |  | $ | 6  |  |
| Stock-based compensation | —  |  |  | —  |  |  | —  |  |
| Common stock, end of year | 6  |  |  | 6  |  |  | 6  |  |
|  |  |  |  |  |  |
| Paid-in capital, beginning of year | 5,335  |  |  | 4,790  |  |  | 4,403  |  |
| Common stock dividends | 3  |  |  | 3  |  |  | 3  |  |
| Stock-based compensation | 477  |  |  | 542  |  |  | 384  |  |
| Purchase of shares from noncontrolling interests | (19) |  |  | —  |  |  | —  |  |
|  |  |  |  |  |  |
| Paid-in capital, end of year | 5,796  |  |  | 5,335  |  |  | 4,790  |  |
|  |  |  |  |  |  |
| Retained earnings, beginning of year | 12,244  |  |  | 10,134  |  |  | 9,984  |  |
| Common stock dividends | (843) |  |  | (757) |  |  | (505) |  |
| Net earnings attributable to The Estée Lauder Companies Inc. | 2,390  |  |  | 2,870  |  |  | 684  |  |
|  |  |  |  |  |  |
| Cumulative effect of adoption of new accounting standards | 121  |  |  | (3) |  |  | (29) |  |
| Retained earnings, end of year | 13,912  |  |  | 12,244  |  |  | 10,134  |  |
|  |  |  |  |  |  |
| Accumulated other comprehensive loss, beginning of year | (470) |  |  | (665) |  |  | (563) |  |
|  |  |  |  |  |  |
| Other comprehensive income (loss) attributable to The Estée Lauder Companies Inc. | (292) |  |  | 195  |  |  | (102) |  |
| Accumulated other comprehensive loss, end of year | (762) |  |  | (470) |  |  | (665) |  |
|  |  |  |  |  |  |
| Treasury stock, beginning of year | (11,058) |  |  | (10,330) |  |  | (9,444) |  |
| Acquisition of treasury stock | (2,130) |  |  | (602) |  |  | (768) |  |
| Stock-based compensation | (174) |  |  | (126) |  |  | (118) |  |
| Treasury stock, end of year | (13,362) |  |  | (11,058) |  |  | (10,330) |  |
|  |  |  |  |  |  |
| Total stockholders’ equity – The Estée Lauder Companies Inc. | 5,590  |  |  | 6,057  |  |  | 3,935  |  |
|  |  |  |  |  |  |
| Noncontrolling interests, beginning of year | 34  |  |  | 27  |  |  | 25  |  |
| Net earnings attributable to noncontrolling interests | 7  |  |  | 12  |  |  | 12  |  |
| Distribution to noncontrolling interest holders | —  |  |  | (6) |  |  | (10) |  |
| Purchase of shares from noncontrolling interests | (34) |  |  | —  |  |  | —  |  |
| Translation adjustments and other, net | (7) |  |  | 1  |  |  | —  |  |
| Noncontrolling interests, end of year | —  |  |  | 34  |  |  | 27  |  |
|  |  |  |  |  |  |
| Total equity | $ | 5,590  |  |  | $ | 6,091  |  |  | $ | 3,962  |  |
|  |  |  |  |  |  |
| Redeemable noncontrolling interest, beginning of year | $ | 857  |  |  | $ | —  |  |  | $ | —  |  |
| Acquired redeemable noncontrolling interest | —  |  |  | 881  |  |  | —  |  |
| Net earnings (loss) attributable to redeemable noncontrolling interest | 11  |  |  | (7) |  |  | —  |  |
| Translation adjustments | (25) |  |  | (17) |  |  | —  |  |
|  |  |  |  |  |  |
| Adjustment of redeemable noncontrolling interest to redemption value | (1) |  |  | —  |  |  | —  |  |
|  |  |  |  |  |  |
| Redeemable noncontrolling interest, end of year | $ | 842  |  |  | $ | 857  |  |  | $ | —  |  |
|  |  |  |  |  |  |
| Cash dividends declared per common share | $ | 2.33  |  |  | $ | 2.07  |  |  | $ | 1.39  |  |

See notes to consolidated financial statements.F-9
