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: 2019 | |||
CONSOLIDATED STATEMENTS OF EARNINGS | |||
Period Ending June 30, 2019 10-K (Filed: Aug 23, 2019) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| June 30, 2019 | June 30, 2018 | June 30, 2017 | |
| Net sales | $ 14,863 | 13,683 | 11,824 |
| Cost of sales | 3,387 | 2,844 | 2,434 |
| Gross profit | 11,476 | 10,839 | 9,390 |
| Operating expenses | |||
| Selling, general and administrative | 8,857 | 8,553 | 7,460 |
| Restructuring and other charges | 216 | 231 | 195 |
| Goodwill impairment | 68 | 28 | |
| Impairment of other intangible assets | 22 | 3 | |
| Total operating expenses | 9,163 | 8,784 | 7,686 |
| Operating income | 2,313 | 2,055 | 1,704 |
| Interest expense | 133 | 128 | 103 |
| Interest income and investment income, net | 58 | 56 | 28 |
| Other components of net periodic benefit cost | 2 | 3 | 12 |
| Other income, net | 71 | ||
| Earnings before income taxes | 2,307 | 1,980 | 1,617 |
| Provision for income taxes | 513 | 863 | 361 |
| Net earnings | 1,794 | 1,117 | 1,256 |
| Net earnings attributable to noncontrolling interests | (9) | (9) | (7) |
| Net earnings attributable to The Estee Lauder Companies Inc. | 1,785 | 1,108 | 1,249 |
| Net earnings attributable to The Estee Lauder Companies Inc. per common share | |||
| Basic (in dollars per share) | 4.91 | 3.01 | 3.40 |
| Diluted (in dollars per share) | 4.82 | 2.95 | 3.35 |
| Weighted-average common shares outstanding | |||
| Basic (in shares) | 363,500 | 368,000 | 367,100 |
| Diluted (in shares) | 370,400 | 375,700 | 373,000 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ESTEE LAUDER COMPANIES INC | |||
Ticker: EL Fiscal Year: 2019 | |||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) | |||
Period Ending June 30, 2019 10-K (Filed: Aug 23, 2019) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| June 30, 2019 | June 30, 2018 | June 30, 2017 | |
| Net earnings | $ 1,794 | 1,117 | 1,256 |
| Other comprehensive income (loss): | |||
| Net unrealized investment gain (loss) | 14 | (13) | (8) |
| Net derivative instrument gain (loss) | (24) | 57 | (54) |
| Amounts included in net periodic benefit cost | (102) | 92 | 102 |
| Translation adjustments | (57) | (20) | 32 |
| Benefit (provision) for deferred income taxes on components of other comprehensive income | 40 | (34) | (11) |
| Total other comprehensive income (loss) | (129) | 82 | 61 |
| Comprehensive income | 1,665 | 1,199 | 1,317 |
| Comprehensive income attributable to noncontrolling interests: | |||
| Net earnings | (9) | (9) | (7) |
| Comprehensive income attributable to The Estee Lauder Companies Inc. | 1,656 | 1,190 | 1,310 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ESTEE LAUDER COMPANIES INC | |||
Ticker: EL Fiscal Year: 2019 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending June 30, 2019 10-K (Filed: Aug 23, 2019) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| June 30, 2019 | June 30, 2018 | June 30, 2017 | |
| Cash flows from operating activities | |||
| Net earnings | $ 1,794 | 1,117 | 1,256 |
| Adjustments to reconcile net earnings to net cash flows from operating activities: | |||
| Depreciation and amortization | 557 | 531 | 464 |
| Deferred income taxes | (66) | 175 | (118) |
| Non-cash stock-based compensation | 243 | 236 | 219 |
| Excess tax benefits from stock-based compensation arrangements | (45) | ||
| Net loss on disposal of property, plant and equipment | 17 | 15 | 5 |
| Non-cash restructuring and other charges | 1 | 3 | |
| Pension and post-retirement benefit expense | 72 | 73 | 80 |
| Pension and post-retirement benefit contributions | (53) | (85) | (38) |
| Goodwill and other intangible assets impairments | 90 | 31 | |
| Changes in fair value of contingent consideration | (37) | (43) | (57) |
| Gain on liquidation of an investment in a foreign subsidiary, net | (71) | ||
| Other non-cash items | (27) | (22) | (21) |
| Changes in operating assets and liabilities: | |||
| Increase in accounts receivable, net | (169) | (105) | (92) |
| Increase in inventory and promotional merchandise, net | (375) | (147) | (85) |
| Decrease (increase) in other assets, net | (62) | 1 | (90) |
| Increase in accounts payable | 319 | 349 | 54 |
| Increase in other accrued and noncurrent liabilities | 285 | 466 | 224 |
| Net cash flows provided by operating activities | 2,517 | 2,562 | 1,790 |
| Cash flows from investing activities | |||
| Capital expenditures | (744) | (629) | (504) |
| Payments for acquired businesses, net of cash acquired | (1,671) | ||
| Proceeds from the disposition of investments | 1,229 | 749 | 1,226 |
| Purchases of investments | (14) | (478) | (1,267) |
| Proceeds from sale of property, plant and equipment | 2 | 12 | |
| Net cash flows provided by (used for) investing activities | 473 | (358) | (2,204) |
| Cash flows from financing activities | |||
| Proceeds (repayments) of current debt, net | (171) | (8) | 165 |
| Proceeds from issuance of long-term debt, net | 1,498 | ||
| Debt issuance costs | (11) | ||
| Repayments and redemptions of long-term debt | (1) | (2) | (306) |
| Net proceeds from stock-based compensation transactions | 192 | 182 | 141 |
| Excess tax benefits from stock-based compensation arrangements | 45 | ||
| Payments to acquire treasury stock | (1,555) | (759) | (413) |
| Dividends paid to stockholders | (609) | (546) | (486) |
| Payments to noncontrolling interest holders for dividends | (6) | (4) | (3) |
| Payments of contingent consideration | (23) | (35) | |
| Net cash flows provided by (used for) financing activities | (2,173) | (1,172) | 630 |
| Effect of exchange rate changes on Cash and cash equivalents | (11) | 13 | 6 |
| Net increase in Cash and cash equivalents | 806 | 1,045 | 222 |
| Cash and cash equivalents at beginning of year | 2,181 | 1,136 | |
| Cash and cash equivalents at end of year | 2,987 | 2,181 | 1,136 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
ESTEE LAUDER COMPANIES INC | ||
Ticker: EL Fiscal Year: 2019 | ||
CONSOLIDATED BALANCE SHEETS | ||
Period Ending June 30, 2019 10-K (Filed: Aug 23, 2019) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| June 30, 2019 | June 30, 2018 | |
| Total assets: | ||
| Current assets | ||
| Cash and cash equivalents | $ 2,987 | 2,181 |
| Short-term investments | 534 | |
| Accounts receivable, net | 1,831 | 1,487 |
| Inventory and promotional merchandise, net | 2,006 | 1,618 |
| Prepaid expenses and other current assets | 388 | 348 |
| Total current assets | 7,212 | 6,168 |
| Property, plant and equipment, net | 2,068 | 1,823 |
| Other assets | ||
| Long-term investments | 177 | 843 |
| Goodwill | 1,868 | 1,926 |
| Other intangible assets, net | 1,203 | 1,276 |
| Other assets | 628 | 531 |
| Total other assets | 3,876 | 4,576 |
| Total assets | 13,156 | 12,567 |
| LIABILITIES AND EQUITY | ||
| Current liabilities | ||
| Current debt | 516 | 183 |
| Accounts payable | 1,490 | 1,182 |
| Other accrued liabilities | 2,599 | 1,945 |
| Total current liabilities | 4,605 | 3,310 |
| Noncurrent liabilities | ||
| Long-term debt | 2,896 | 3,361 |
| Other noncurrent liabilities | 1,244 | 1,186 |
| Total noncurrent liabilities | 4,140 | 4,547 |
| Commitments and contingencies | ||
| Equity | ||
| Common stock, $.01 par value; Class A shares authorized: 1,300,000,000 at June 30, 2019 and June 30, 2018; shares issued: 443,685,124 at June 30, 2019 and 435,413,976 at June 30, 2018; Class B shares authorized: 304,000,000 at June 30, 2019 and June 30, 2018; shares issued and outstanding: 139,537,814 at June 30, 2019 and 143,051,679 at June 30, 2018 | 6 | 6 |
| Paid-in capital | 4,403 | 3,972 |
| Retained earnings | 9,984 | 9,040 |
| Accumulated other comprehensive loss | (563) | (434) |
| Stockholders' equity before treasury stock | 13,830 | 12,584 |
| Less: Treasury stock, at cost; 222,120,630 Class A shares at June 30, 2019 and 211,320,208 Class A shares at June 30, 2018 | (9,444) | (7,896) |
| Total stockholders' equity - The Estee Lauder Companies Inc. | 4,386 | 4,688 |
| Noncontrolling interests | 25 | 22 |
| Total equity | 4,411 | 4,710 |
| Total liabilities and equity | 13,156 | 12,567 |
| External Links | |
| ESTEE LAUDER COMPANIES INC (EL) Fiscal Year 2019 | |
| 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 |