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: 2020 | |||
CONSOLIDATED STATEMENTS OF EARNINGS | |||
Period Ending June 30, 2020 10-K (Filed: Aug 28, 2020) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| June 30, 2020 | June 30, 2019 | June 30, 2018 | |
| Net sales | $ 14,294 | 14,863 | 13,683 |
| Cost of sales | 3,552 | 3,387 | 2,844 |
| Gross profit | 10,742 | 11,476 | 10,839 |
| Operating expenses | |||
| Selling, general and administrative | 8,637 | 8,857 | 8,553 |
| Restructuring and other charges | 73 | 216 | 231 |
| Goodwill impairment | 812 | 68 | 0 |
| Impairments of other intangible and long-lived assets | 614 | 22 | 0 |
| Total operating expenses | 10,136 | 9,163 | 8,784 |
| Operating income | 606 | 2,313 | 2,055 |
| Interest expense | 161 | 133 | 128 |
| Interest income and investment income, net | 48 | 58 | 56 |
| Other components of net periodic benefit cost | 4 | 2 | 3 |
| Other income, net | 557 | 71 | 0 |
| Earnings before income taxes | 1,046 | 2,307 | 1,980 |
| Provision for income taxes | 350 | 513 | 863 |
| Net earnings | 696 | 1,794 | 1,117 |
| Net earnings attributable to noncontrolling interests | (12) | (9) | (9) |
| Net earnings attributable to The Estee Lauder Companies Inc. | 684 | 1,785 | 1,108 |
| Net earnings attributable to The Estee Lauder Companies Inc. per common share | |||
| Basic (in dollars per share) | 1.90 | 4.91 | 3.01 |
| Diluted (in dollars per share) | 1.86 | 4.82 | 2.95 |
| Weighted-average common shares outstanding | |||
| Basic (in shares) | 360,600 | 363,500 | 368,000 |
| Diluted (in shares) | 366,900 | 370,400 | 375,700 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ESTEE LAUDER COMPANIES INC | |||
Ticker: EL Fiscal Year: 2020 | |||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | |||
Period Ending June 30, 2020 10-K (Filed: Aug 28, 2020) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| June 30, 2020 | June 30, 2019 | June 30, 2018 | |
| Net earnings | $ 696 | 1,794 | 1,117 |
| Other comprehensive income (loss): | |||
| Net unrealized investment gain (loss) | 0 | 14 | (13) |
| Net cash flow hedge gain (loss) | (9) | (24) | 57 |
| Amounts included in net periodic benefit cost | 12 | (102) | 92 |
| Translation adjustments | (108) | (57) | (20) |
| Benefit (provision) for deferred income taxes on components of other comprehensive income | 3 | 40 | (34) |
| Total other comprehensive income (loss) | (102) | (129) | 82 |
| Comprehensive income | 594 | 1,665 | 1,199 |
| Comprehensive income attributable to noncontrolling interests: | |||
| Net earnings | (12) | (9) | (9) |
| Comprehensive income attributable to The Estee Lauder Companies Inc. | 582 | 1,656 | 1,190 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ESTEE LAUDER COMPANIES INC | |||
Ticker: EL Fiscal Year: 2020 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending June 30, 2020 10-K (Filed: Aug 28, 2020) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| June 30, 2020 | June 30, 2019 | June 30, 2018 | |
| Cash flows from operating activities | |||
| Net earnings | $ 696 | 1,794 | 1,117 |
| Adjustments to reconcile net earnings to net cash flows from operating activities: | |||
| Depreciation and amortization | 611 | 557 | 531 |
| Deferred income taxes | (143) | (66) | 175 |
| Non-cash stock-based compensation | 213 | 243 | 236 |
| Net loss on disposal of property, plant and equipment | 20 | 17 | 15 |
| Non-cash restructuring and other charges | 20 | 0 | 1 |
| Pension and post-retirement benefit expense | 82 | 72 | 73 |
| Pension and post-retirement benefit contributions | (73) | (53) | (85) |
| Goodwill, other intangible and long-lived asset impairments | 1,426 | 90 | 0 |
| Changes in fair value of contingent consideration | (17) | (37) | (43) |
| Gain on liquidation of an investment in a foreign subsidiary, net | 0 | (71) | 0 |
| Gain on previously held equity method investment | (534) | 0 | 0 |
| Other non-cash items | (10) | (27) | (22) |
| Changes in operating assets and liabilities: | |||
| Decrease (increase) in accounts receivable, net | 625 | (169) | (105) |
| Increase in inventory and promotional merchandise | (3) | (375) | (147) |
| Decrease (increase) in other assets, net | (212) | (62) | 1 |
| Increase (decrease) in accounts payable | (308) | 319 | 349 |
| Increase (decrease) in other accrued and noncurrent liabilities | (169) | 285 | 466 |
| Increase in operating lease assets and liabilities, net | 56 | ||
| Net cash flows provided by operating activities | 2,280 | 2,517 | 2,562 |
| Cash flows from investing activities | |||
| Capital expenditures | (623) | (744) | (629) |
| Payments for acquired businesses, net of cash acquired | (1,047) | 0 | 0 |
| Proceeds from the disposition of investments | 0 | 1,229 | 749 |
| Purchases of investments | (5) | (14) | (478) |
| Proceeds from sale of property, plant and equipment | 0 | 2 | 0 |
| Settlement of net investment hedges | (23) | 0 | 0 |
| Net cash flows provided by (used for) investing activities | (1,698) | 473 | (358) |
| Cash flows from financing activities | |||
| Proceeds (repayments) of current debt, net | 755 | (171) | (8) |
| Proceeds from issuance of long-term debt, net | 2,481 | 0 | 0 |
| Debt issuance costs | (18) | 0 | 0 |
| Repayments and redemptions of long-term debt | (513) | (1) | (2) |
| Net proceeds from stock-based compensation transactions | 180 | 192 | 182 |
| Payments to acquire treasury stock | (893) | (1,555) | (759) |
| Dividends paid to stockholders | (503) | (609) | (546) |
| Payments to noncontrolling interest holders for dividends | (10) | (6) | (4) |
| Payments of contingent consideration | (18) | (23) | (35) |
| Net cash flows provided by (used for) financing activities | 1,461 | (2,173) | (1,172) |
| Effect of exchange rate changes on Cash and cash equivalents | (8) | (11) | 13 |
| Net increase in Cash and cash equivalents | 2,035 | 806 | 1,045 |
| Cash and cash equivalents at beginning of year | 2,987 | 2,181 | |
| Cash and cash equivalents at end of year | 5,022 | 2,987 | 2,181 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
ESTEE LAUDER COMPANIES INC | ||
Ticker: EL Fiscal Year: 2020 | ||
CONSOLIDATED BALANCE SHEETS | ||
Period Ending June 30, 2020 10-K (Filed: Aug 28, 2020) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| June 30, 2020 | June 30, 2019 | |
| ASSETS | ||
| Current assets | ||
| Cash and cash equivalents | $ 5,022 | 2,987 |
| Accounts receivable, net | 1,194 | 1,831 |
| Inventory and promotional merchandise | 2,062 | 2,006 |
| Prepaid expenses and other current assets | 614 | 388 |
| Total current assets | 8,892 | 7,212 |
| Property, plant and equipment, net | 2,055 | 2,068 |
| Other assets | ||
| Operating lease right-of-use assets | 2,282 | 2,598 |
| Goodwill | 1,401 | 1,868 |
| Other intangible assets, net | 2,338 | 1,203 |
| Other assets | 813 | 805 |
| Total other assets | 6,834 | 3,876 |
| Total assets | 17,781 | 13,156 |
| LIABILITIES AND EQUITY | ||
| Current liabilities | ||
| Current debt | 1,222 | 516 |
| Accounts payable | 1,177 | 1,490 |
| Operating lease liabilities | 375 | |
| Other accrued liabilities | 2,405 | 2,599 |
| Total current liabilities | 5,179 | 4,605 |
| Noncurrent liabilities | ||
| Long-term debt | 4,914 | 2,896 |
| Long-term operating lease liabilities | 2,278 | |
| Other noncurrent liabilities | 1,448 | 1,244 |
| Total noncurrent liabilities | 8,640 | 4,140 |
| Commitments and contingencies | ||
| Equity | ||
| Common stock, $.01 par value; Class A shares authorized: 1,300,000,000 at June 30, 2020 and June 30, 2019; shares issued: 451,927,441 at June 30, 2020 and 443,685,124 at June 30, 2019; Class B shares authorized: 304,000,000 at June 30, 2020 and June 30, 2019; shares issued and outstanding: 135,235,429 at June 30, 2020 and 139,537,814 at June 30, 2019 | 6 | 6 |
| Paid-in capital | 4,790 | 4,403 |
| Retained earnings | 10,134 | 9,984 |
| Accumulated other comprehensive loss | (665) | (563) |
| Stockholders' equity before treasury stock | 14,265 | 13,830 |
| Less: Treasury stock, at cost; 226,637,238 Class A shares at June 30, 2020 and 222,120,630 Class A shares at June 30, 2019 | (10,330) | (9,444) |
| Total stockholders equity The Estee Lauder Companies Inc. | 3,935 | 4,386 |
| Noncontrolling interests | 27 | 25 |
| Total equity | 3,962 | 4,411 |
| Total liabilities and equity | 17,781 | 13,156 |
| External Links | |
| ESTEE LAUDER COMPANIES INC (EL) Fiscal Year 2020 | |
| 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 |