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84 THE EST{E LAUDER COMPANIES INC.
The following table presents accrued restructuring charges (adjustments) and the related activities under the Program
to date:
Employee-Related Asset Contract
Costs Write-offs Terminations Other Exit Costs Total
(In millions)
Balance at June 30, 2012 $ 47.9 $— $ 0.8 $ 0.5 $ 49.2
Charges 7.7 2.1 1.5 3.3 14.6
Cash payments (26.0) — (2.1) (3.1) (31.2)
Non-cash write-offs — (2.1) — — (2.1)
Translation adjustments 0.2 — — — 0.2
Other adjustments (2.3) — — — (2.3)
Balance at June 30, 2013 27.5 — 0.2 0.7 28.4
Charges (adjustments) (4.1) — 1.2 — (2.9)
Cash payments (16.6) — (0.8) (0.5) (17.9)
Translation adjustments 0.3 — 0.1 (0.1) 0.3
Balance at June 30, 2014 $ 7.1 $— $ 0.7 $ 0.1 $ 7.9
Accrued restructuring charges at June 30, 2014 are expected to result in cash expenditures funded from cash provided
by operations of approximately $7 million and $1 million in fiscal 2015 and 2016, respectively.
Total Returns and Other Charges (Adjustments) Associated with Restructuring Activities
The following table presents total returns and charges (adjustments) associated with restructuring and other activities
related to the Program:
YEAR ENDED JUNE 30 2014 2013 2012
(In millions)
Sales returns (included in Net Sales) $(0.1) $ 1.5 $ 2.1
Cost of sales 0.1 1.2 1.5
Restructuring charges (adjustments) (2.9) 14.6 53.6
Other charges — 0.5 6.0
Total charges (adjustments) associated with restructuring activities $(2.9) $17.8 $63.2
20142014
$(0.1)$(0.1)
0.10.1
(2.9)(2.9)
——
$(2.9)$(2.9)
Other charges in connection with the implementation of the Program were primarily related to consulting and other
professional services.
NOTE 7
—
INCOME TAXES
The provision for income taxes is comprised of the following:
YEAR ENDED JUNE 30 2014 2013 2012
(In millions)
Current:
Federal $338.2 $261.7 $154.5
Foreign 265.4 241.5 254.1
State and local 20.5 24.3 14.1
624.1 527.5 422.7
Deferred:
Federal (41.7) (35.2) (13.8)
Foreign (18.6) (41.3) (9.0)
State and local 3.9 0.4 0.7
(56.4) (76.1) (22.1)
$567.7 $451.4 $400.6
20142014
$338.2$338.2
265.4265.4
20.520.5
624.1624.1
(41.7)(41.7)
(18.6)(18.6)
3.93.9
(56.4)(56.4)
$567.7$567.7
Earnings before income taxes include amounts contributed by the Company’s foreign operations of approximately $1,384
million, $1,220 million and $1,172 million for fiscal 2014, 2013 and 2012, respectively. A portion of these earnings are
taxed in the United States.