10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ESTEE LAUDER COMPANIES INC | |||
Ticker: EL Fiscal Year: 2018 | |||
CONSOLIDATED STATEMENTS OF EARNINGS | |||
Period Ending June 30, 2018 10-K (Filed: Aug 24, 2018) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| June 30, 2018 | June 30, 2017 | June 30, 2016 | |
| Net Sales | $ 13,683 | 11,824 | 11,262 |
| Cost of sales | 2,844 | 2,437 | 2,181 |
| Gross Profit | 10,839 | 9,387 | 9,081 |
| Operating expenses | |||
| Selling, general and administrative expenses | 8,556 | 7,469 | 7,338 |
| Restructuring and other charges | 231 | 195 | 133 |
| Goodwill impairment | 28 | ||
| Impairment of other intangible assets | 3 | ||
| Total operating expenses | 8,787 | 7,695 | 7,471 |
| Operating Income | 2,052 | 1,692 | 1,610 |
| Interest expense | 128 | 103 | 71 |
| Interest income and investment income, net | 56 | 28 | 16 |
| Earnings before Income Taxes | 1,980 | 1,617 | 1,555 |
| Provision for income taxes | 863 | 361 | 434 |
| Net Earnings | 1,117 | 1,256 | 1,121 |
| Net earnings attributable to noncontrolling interests | (9) | (7) | (6) |
| Net earnings attributable to The Estee Lauder Companies Inc. | 1,108 | 1,249 | 1,115 |
| Net earnings attributable to The Estee Lauder Companies Inc. per common share | |||
| Basic (in dollars per share) | 3.01 | 3.40 | 3.01 |
| Diluted (in dollars per share) | 2.95 | 3.35 | 2.96 |
| Weighted-average common shares outstanding | |||
| Basic (in shares) | 368,000 | 367,100 | 370,000 |
| Diluted (in shares) | 375,700 | 373,000 | 376,600 |
| Cash dividends declared per common share (in dollars per share) | 1.48 | 1.32 | 1.14 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ESTEE LAUDER COMPANIES INC | |||
Ticker: EL Fiscal Year: 2018 | |||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) | |||
Period Ending June 30, 2018 10-K (Filed: Aug 24, 2018) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| June 30, 2018 | June 30, 2017 | June 30, 2016 | |
| Net earnings | $ 1,117 | 1,256 | 1,121 |
| Other comprehensive income (loss): | |||
| Net unrealized investment gain (loss) | (13) | (8) | 7 |
| Net derivative instrument gain (loss) | 57 | (54) | (18) |
| Amounts included in net periodic benefit cost | 92 | 102 | (88) |
| Translation adjustments | (20) | 32 | (101) |
| Benefit (provision) for deferred income taxes on components of other comprehensive income | (34) | (11) | 36 |
| Total other comprehensive income (loss) | 82 | 61 | (164) |
| Comprehensive income | 1,199 | 1,317 | 957 |
| Comprehensive income attributable to noncontrolling interests: | |||
| Net earnings | (9) | (7) | (6) |
| Total comprehensive income attributable to noncontrolling interests | (9) | (7) | (6) |
| Comprehensive income attributable to The Estee Lauder Companies Inc. | 1,190 | 1,310 | 951 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ESTEE LAUDER COMPANIES INC | |||
Ticker: EL Fiscal Year: 2018 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending June 30, 2018 10-K (Filed: Aug 24, 2018) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| June 30, 2018 | June 30, 2017 | June 30, 2016 | |
| Cash Flows from Operating Activities | |||
| Net earnings | $ 1,117 | 1,256 | 1,121 |
| Adjustments to reconcile net earnings to net cash flows from operating activities: | |||
| Depreciation and amortization | 531 | 464 | 415 |
| Deferred income taxes | 175 | (118) | (94) |
| Non-cash stock-based compensation | 236 | 219 | 184 |
| Excess tax benefits from stock-based compensation arrangements | (45) | (23) | |
| Loss on disposal of property, plant and equipment | 15 | 5 | 17 |
| Goodwill and other intangible asset impairments | 31 | ||
| Non-cash restructuring and other charges | 1 | 3 | 19 |
| Pension and post-retirement benefit expense | 73 | 80 | 71 |
| Pension and post-retirement benefit contributions | (85) | (38) | (67) |
| Changes in fair value of contingent consideration | (43) | (57) | 8 |
| Other non-cash items | (22) | (21) | (7) |
| Changes in operating assets and liabilities: | |||
| Increase in accounts receivable, net | (105) | (92) | (101) |
| Increase in inventory and promotional merchandise, net | (147) | (85) | (69) |
| Decrease (increase) in other assets, net | 12 | (80) | (72) |
| Increase in accounts payable | 349 | 54 | 101 |
| Increase in other accrued and noncurrent liabilities | 466 | 224 | 286 |
| Net cash flows provided by operating activities | 2,573 | 1,800 | 1,789 |
| Cash Flows from Investing Activities | |||
| Capital expenditures | (629) | (504) | (525) |
| Payments for acquired businesses, net of cash acquired | (11) | (1,681) | (101) |
| Proceeds from the disposition of investments | 749 | 1,226 | 1,373 |
| Purchases of investments | (478) | (1,267) | (2,016) |
| Proceeds from sale of property, plant and equipment | 12 | ||
| Net cash flows used for investing activities | (369) | (2,214) | (1,269) |
| Cash Flows from Financing Activities | |||
| Proceeds (repayments) of current debt, net | (8) | 165 | |
| Proceeds from issuance of long-term debt, net | 1,498 | 616 | |
| Debt issuance costs | (11) | (4) | |
| Repayments and redemptions of long-term debt | (2) | (306) | (8) |
| Net proceeds from stock-based compensation transactions | 182 | 141 | 85 |
| Excess tax benefits from stock-based compensation arrangements | 45 | 23 | |
| Payments to acquire treasury stock | (759) | (413) | (890) |
| Dividends paid to stockholders | (546) | (486) | (423) |
| Payments to noncontrolling interest holders for dividends | (4) | (3) | (4) |
| Payments of contingent consideration | (35) | ||
| Net cash flows provided by (used for) financing activities | (1,172) | 630 | (605) |
| Effect of Exchange Rate Changes on Cash and Cash Equivalents | 13 | 6 | (22) |
| Net Increase (Decrease) in Cash and Cash Equivalents | 1,045 | 222 | (107) |
| Cash and Cash Equivalents at Beginning of Year | 1,136 | 914 | |
| Cash and Cash Equivalents at End of Year | 2,181 | 1,136 | 914 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
ESTEE LAUDER COMPANIES INC | ||
Ticker: EL Fiscal Year: 2018 | ||
CONSOLIDATED BALANCE SHEETS | ||
Period Ending June 30, 2018 10-K (Filed: Aug 24, 2018) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| June 30, 2018 | June 30, 2017 | |
| Total Assets: | ||
| Current Assets | ||
| Cash and cash equivalents | $ 2,181 | 1,136 |
| Short-term investments | 534 | 605 |
| Accounts receivable, net | 1,487 | 1,395 |
| Inventory and promotional merchandise, net | 1,618 | 1,479 |
| Prepaid expenses and other current assets | 348 | 349 |
| Total current assets | 6,168 | 4,964 |
| Property, Plant and Equipment, net | 1,823 | 1,671 |
| Other Assets | ||
| Long-term investments | 843 | 1,026 |
| Goodwill | 1,926 | 1,916 |
| Other intangible assets, net | 1,276 | 1,327 |
| Other assets | 531 | 664 |
| Total other assets | 4,576 | 4,933 |
| Total assets | 12,567 | 11,568 |
| LIABILITIES AND EQUITY | ||
| Current Liabilities | ||
| Current debt | 183 | 189 |
| Accounts payable | 1,182 | 835 |
| Other accrued liabilities | 1,945 | 1,799 |
| Total current liabilities | 3,310 | 2,823 |
| Noncurrent Liabilities | ||
| Long-term debt | 3,361 | 3,383 |
| Other noncurrent liabilities | 1,186 | 960 |
| Total noncurrent liabilities | 4,547 | 4,343 |
| Commitments and Contingencies | ||
| Equity | ||
| Common stock, $.01 par value; Class A shares authorized: 1,300,000,000 at June 30, 2018 and June 30, 2017; shares issued: 435,413,976 at June 30, 2018 and 429,968,260 at June 30, 2017; Class B shares authorized: 304,000,000 at June 30, 2018 and June 30, 2017; shares issued and outstanding: 143,051,679 at June 30, 2018 and 143,762,288 at June 30, 2017 | 6 | 6 |
| Paid-in capital | 3,972 | 3,559 |
| Retained earnings | 9,040 | 8,452 |
| Accumulated other comprehensive loss | (434) | (484) |
| Stockholders' equity before treasury stock | 12,584 | 11,533 |
| Less: Treasury stock, at cost; 211,320,208 Class A shares at June 30, 2018 and 205,627,082 Class A shares at June 30, 2017 | (7,896) | (7,149) |
| Total stockholders' equity - The Estee Lauder Companies Inc. | 4,688 | 4,384 |
| Noncontrolling interests | 22 | 18 |
| Total equity | 4,710 | 4,402 |
| Total liabilities and equity | 12,567 | 11,568 |
| External Links | |
| ESTEE LAUDER COMPANIES INC (EL) Fiscal Year 2018 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |