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: 2011 | |||
CONSOLIDATED STATEMENTS OF EARNINGS | |||
Period Ending June 30, 2011 10-K (Filed: Aug 22, 2011) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| June 30, 2011 | June 30, 2010 | June 30, 2009 | |
| Net Sales | $ 8,810,000 | 7,795,800 | 7,323,800 |
| Cost of sales | 1,936,900 | 1,829,400 | 1,881,600 |
| Gross Profit | 6,873,100 | 5,966,400 | 5,442,200 |
| Operating expenses | |||
| Selling, general and administrative | 5,696,700 | 5,067,000 | 4,883,900 |
| Restructuring and other special charges | 49,000 | 61,100 | 76,800 |
| Goodwill impairment | 29,300 | 16,600 | 14,300 |
| Impairment of other intangible and long-lived assets | 8,700 | 31,800 | 48,800 |
| Total operating expenses | 5,783,700 | 5,176,500 | 5,023,800 |
| Operating Income | 1,089,400 | 789,900 | 418,400 |
| Interest expense, net | 63,900 | 74,300 | 75,700 |
| Interest expense on debt extinguishment | 27,300 | ||
| Earnings before Income Taxes | 1,025,500 | 688,300 | 342,700 |
| Provision for income taxes | 321,700 | 205,900 | 115,900 |
| Net Earnings | 703,800 | 482,400 | 226,800 |
| Net earnings attributable to noncontrolling interests | (3,000) | (4,100) | (8,400) |
| Net Earnings Attributable to The Estee Lauder Companies Inc. | 700,800 | 478,300 | 218,400 |
| Net earnings attributable to The Estee Lauder Companies Inc. per common share | |||
| Basic (in dollars per share) | 3.56 | 2.42 | 1.11 |
| Diluted (in dollars per share) | 3.48 | 2.38 | 1.10 |
| Weighted average common shares outstanding | |||
| Basic (in shares) | 197,000 | 197,700 | 196,300 |
| Diluted (in shares) | 201,200 | 200,700 | 197,700 |
| Cash dividends declared per common share (in dollars per share) | 0.75 | 0.55 | 0.55 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ESTEE LAUDER COMPANIES INC | |||
Ticker: EL Fiscal Year: 2011 | |||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) | |||
Period Ending June 30, 2011 10-K (Filed: Aug 22, 2011) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| June 30, 2011 | June 30, 2010 | June 30, 2009 | |
| Net earnings | $ 703,800 | 482,400 | 226,800 |
| Other comprehensive income (loss): | |||
| Net unrealized investment gain (loss), net of tax | 300 | 400 | (500) |
| Net derivative instrument gain (loss), net of tax | (15,000) | 12,800 | (6,400) |
| Net actuarial gain (loss), net of tax | 25,900 | (32,400) | (87,400) |
| Net prior service credit (cost), net of tax | (7,300) | 5,500 | 5,500 |
| Net transition asset (obligation), net of tax | 0 | ||
| Translation adjustments, net of tax | 213,700 | (69,300) | (141,800) |
| Total other comprehensive income (loss) | 217,600 | (83,000) | (230,600) |
| Comprehensive income (loss) | 921,400 | 399,400 | (3,800) |
| Comprehensive (income) loss attributable to noncontrolling interests: | |||
| Net earnings | (3,000) | (4,100) | (8,400) |
| Translation adjustments, net of tax | (3,200) | 3,400 | 2,700 |
| Total comprehensive (income) loss attributable to noncontrolling interests | (6,200) | (700) | (5,700) |
| Comprehensive income (loss) attributable to The Estee Lauder Companies Inc. | 915,200 | 398,700 | (9,500) |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ESTEE LAUDER COMPANIES INC | |||
Ticker: EL Fiscal Year: 2011 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending June 30, 2011 10-K (Filed: Aug 22, 2011) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| June 30, 2011 | June 30, 2010 | June 30, 2009 | |
| Cash Flows from Operating Activities | |||
| Net earnings | $ 703,800 | 482,400 | 226,800 |
| Adjustments to reconcile net earnings to net cash flows from operating activities: | |||
| Depreciation and amortization | 294,400 | 263,700 | 254,000 |
| Deferred income taxes | (24,500) | (24,700) | (108,200) |
| Non-cash stock-based compensation | 94,800 | 57,000 | 51,500 |
| Excess tax benefits from stock-based compensation arrangements | (49,700) | (10,800) | (1,400) |
| Loss on disposal of property, plant and equipment | 7,700 | 23,000 | 11,400 |
| Goodwill, other intangible asset and long-lived asset impairments | 38,000 | 48,400 | 63,100 |
| Non-cash charges associated with restructuring activities | 9,400 | 21,400 | 12,200 |
| Non-cash charge on debt extinguishment | 2,400 | ||
| Pension and post-retirement benefit expense | 78,500 | 61,600 | 52,000 |
| Pension and post-retirement benefit contributions | (92,400) | (125,700) | (71,300) |
| Other non-cash items | 600 | 600 | 1,200 |
| Changes in operating assets and liabilities: | |||
| Decrease (increase) in accounts receivable, net | (124,700) | 79,200 | 103,800 |
| Decrease (increase) in inventory and promotional merchandise, net | (95,100) | (60,800) | 125,700 |
| Decrease (increase) in other assets, net | (52,500) | 29,300 | (72,200) |
| Increase (decrease) in accounts payable | (17,000) | 103,600 | (11,900) |
| Increase (decrease) in accrued income taxes | 103,100 | (78,800) | 24,500 |
| Increase in other liabilities | 152,600 | 84,900 | 34,800 |
| Net cash flows provided by operating activities | 1,027,000 | 956,700 | 696,000 |
| Cash Flows from Investing Activities | |||
| Capital expenditures | (351,000) | (270,600) | (279,800) |
| Acquisition of businesses and other intangible assets, net of cash acquired | (256,100) | (10,700) | (68,500) |
| Proceeds from the disposition of long-term investments | 200 | 9,200 | |
| Purchases of long-term investments | (100) | (400) | |
| Net cash flows used for investing activities | (606,900) | (281,400) | (339,500) |
| Cash Flows from Financing Activities | |||
| Borrowings (repayments) of current debt, net | 400 | (7,500) | (93,500) |
| Proceeds from issuance of long-term debt, net | 297,700 | ||
| Repayments and redemptions of long-term debt | (16,500) | (227,200) | (10,100) |
| Net settlement of interest rate derivatives | 47,400 | ||
| Net proceeds from stock-based compensation transactions | 156,100 | 205,000 | 109,600 |
| Excess tax benefits from stock-based compensation arrangements | 49,700 | 10,800 | 1,400 |
| Payments to acquire treasury stock | (396,600) | (266,700) | (62,600) |
| Dividends paid to stockholders | (148,000) | (109,100) | (108,400) |
| Payments to noncontrolling interest holders | (5,600) | (11,400) | (8,300) |
| Net cash flows provided by (used for) financing activities | (313,100) | (406,100) | 125,800 |
| Effect of Exchange Rate Changes on Cash and Cash Equivalents | 25,300 | (13,000) | (19,500) |
| Net Increase in Cash and Cash Equivalents | 132,300 | 256,200 | 462,800 |
| Cash and Cash Equivalents at Beginning of Period | 1,120,700 | 864,500 | |
| Cash and Cash Equivalents at End of Period | 1,253,000 | 1,120,700 | 864,500 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
ESTEE LAUDER COMPANIES INC | ||
Ticker: EL Fiscal Year: 2011 | ||
CONSOLIDATED BALANCE SHEETS | ||
Period Ending June 30, 2011 10-K (Filed: Aug 22, 2011) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| June 30, 2011 | June 30, 2010 | |
| ASSETS | ||
| Current Assets | ||
| Cash and cash equivalents | $ 1,253,000 | 1,120,700 |
| Accounts receivable, net | 945,600 | 746,200 |
| Inventory and promotional merchandise, net | 995,600 | 826,600 |
| Prepaid expenses and other current assets | 492,300 | 427,500 |
| Total current assets | 3,686,500 | 3,121,000 |
| Property, Plant and Equipment, net | 1,143,100 | 1,023,600 |
| Other Assets | ||
| Goodwill | 877,300 | 752,500 |
| Other intangible assets, net | 227,500 | 109,500 |
| Other assets | 339,500 | 329,000 |
| Total other assets | 1,444,300 | 1,191,000 |
| Total assets | 6,273,900 | 5,335,600 |
| LIABILITIES AND EQUITY | ||
| Current Liabilities | ||
| Current debt | 138,000 | 23,400 |
| Accounts payable | 446,700 | 425,200 |
| Accrued income taxes | 62,300 | 5,600 |
| Other accrued liabilities | 1,296,300 | 1,118,000 |
| Total current liabilities | 1,943,300 | 1,572,200 |
| Noncurrent Liabilities | ||
| Long-term debt | 1,080,100 | 1,205,000 |
| Accrued income taxes | 130,000 | 163,300 |
| Other noncurrent liabilities | 473,500 | 429,700 |
| Total noncurrent liabilities | 1,683,600 | 1,798,000 |
| Contingencies (Note 14) | ||
| Equity | ||
| Common stock, $.01 par value; 650,000,000 shares Class A authorized; shares issued: 196,586,976 at June 30, 2011 and 190,767,435 at June 30, 2010; 240,000,000 shares Class B authorized; shares issued and outstanding: 75,982,041 at June 30, 2011 and 77,082,041 at June 30, 2010 | 2,700 | 2,700 |
| Paid-in capital | 1,735,600 | 1,428,700 |
| Retained earnings | 4,116,500 | 3,564,000 |
| Accumulated other comprehensive income (loss) | 17,700 | (196,700) |
| Stockholders' equity before treasury stock | 5,872,500 | 4,798,700 |
| Less: Treasury stock, at cost; 75,287,545 Class A shares at June 30, 2011 and 70,125,805 Class A shares at June 30, 2010 | (3,243,100) | (2,850,300) |
| Total stockholders' equity - The Estee Lauder Companies Inc. | 2,629,400 | 1,948,400 |
| Noncontrolling interests | 17,600 | 17,000 |
| Total equity | 2,647,000 | 1,965,400 |
| Total liabilities and equity | 6,273,900 | 5,335,600 |
| External Links | |
| ESTEE LAUDER COMPANIES INC (EL) Fiscal Year 2011 | |
| 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 |