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: 2021 | |||
CONSOLIDATED STATEMENTS OF EARNINGS | |||
Period Ending June 30, 2021 10-K (Filed: Aug 27, 2021) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| June 30, 2021 | June 30, 2020 | June 30, 2019 | |
| Net sales | $ 16,215 | 14,294 | 14,863 |
| Cost of sales | 3,834 | 3,552 | 3,387 |
| Gross profit | 12,381 | 10,742 | 11,476 |
| Operating expenses | |||
| Selling, general and administrative | 9,371 | 8,637 | 8,857 |
| Restructuring and other charges | 204 | 73 | 216 |
| Goodwill impairment | 54 | 812 | 68 |
| Impairments of other intangible and long-lived assets | 134 | 614 | 22 |
| Total operating expenses | 9,763 | 10,136 | 9,163 |
| Operating income | 2,618 | 606 | 2,313 |
| Interest expense | 173 | 161 | 133 |
| Interest income and investment income, net | 51 | 48 | 58 |
| Other components of net periodic benefit cost | 12 | 4 | 2 |
| Other income, net | 847 | 557 | 71 |
| Earnings before income taxes | 3,331 | 1,046 | 2,307 |
| Provision for income taxes | 456 | 350 | 513 |
| Net earnings | 2,875 | 696 | 1,794 |
| Net earnings attributable to noncontrolling interests | (12) | (12) | (9) |
| Net loss attributable to redeemable noncontrolling interest | 7 | 0 | 0 |
| Net earnings attributable to The Estee Lauder Companies Inc. | 2,870 | 684 | 1,785 |
| Net earnings attributable to The Estee Lauder Companies Inc. per common share | |||
| Basic (in dollars per share) | 7.91 | 1.90 | 4.91 |
| Diluted (in dollars per share) | 7.79 | 1.86 | 4.82 |
| Weighted-average common shares outstanding | |||
| Basic (in shares) | 362,900 | 360,600 | 363,500 |
| Diluted (in shares) | 368,200 | 366,900 | 370,400 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ESTEE LAUDER COMPANIES INC | |||
Ticker: EL Fiscal Year: 2021 | |||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | |||
Period Ending June 30, 2021 10-K (Filed: Aug 27, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| June 30, 2021 | June 30, 2020 | June 30, 2019 | |
| Net earnings | $ 2,875 | 696 | 1,794 |
| Other comprehensive income (loss): | |||
| Net unrealized investment gain | 0 | 0 | 14 |
| Net cash flow hedge loss | (21) | (9) | (24) |
| Retirement plan and other retiree benefit adjustments | 82 | 12 | (102) |
| Translation adjustments | 128 | (108) | (57) |
| Benefit (provision) for income taxes on components of other comprehensive income | (10) | 3 | 40 |
| Total other comprehensive income (loss), net of tax | 179 | (102) | (129) |
| Comprehensive income | 3,054 | 594 | 1,665 |
| Comprehensive income attributable to noncontrolling interests: | |||
| Net earnings | (12) | (12) | (9) |
| Translation adjustments | (1) | 0 | 0 |
| Total comprehensive income attributable to noncontrolling interests | (13) | (12) | (9) |
| Comprehensive loss attributable to redeemable noncontrolling interest: | |||
| Net loss | 7 | 0 | 0 |
| Translation adjustments | 17 | 0 | 0 |
| Total comprehensive loss attributable to redeemable noncontrolling interest | 24 | 0 | 0 |
| Comprehensive income attributable to The Estee Lauder Companies Inc. | 3,065 | 582 | 1,656 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ESTEE LAUDER COMPANIES INC | |||
Ticker: EL Fiscal Year: 2021 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending June 30, 2021 10-K (Filed: Aug 27, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| June 30, 2021 | June 30, 2020 | June 30, 2019 | |
| Cash flows from operating activities | |||
| Net earnings | $ 2,875 | 696 | 1,794 |
| Adjustments to reconcile net earnings to net cash flows from operating activities: | |||
| Depreciation and amortization | 651 | 611 | 557 |
| Deferred income taxes | (230) | (143) | (66) |
| Non-cash stock-based compensation | 327 | 213 | 243 |
| Net loss on disposal of property, plant and equipment | 23 | 20 | 17 |
| Non-cash restructuring and other charges | 76 | 20 | 0 |
| Pension and post-retirement benefit expense | 95 | 82 | 72 |
| Pension and post-retirement benefit contributions | (59) | (73) | (53) |
| Goodwill, other intangible and long-lived asset impairments | 188 | 1,426 | 90 |
| Changes in fair value of contingent consideration | (2) | (17) | (37) |
| Gain on liquidation of an investment in a foreign subsidiary, net | 0 | 0 | (71) |
| Gain on previously held equity method investment | (847) | (534) | 0 |
| Other non-cash items | (20) | (10) | (27) |
| Changes in operating assets and liabilities: | |||
| Decrease (increase) in accounts receivable, net | (398) | 625 | (169) |
| Increase in inventory and promotional merchandise | (140) | (3) | (375) |
| Decrease (increase) in other assets, net | 13 | (212) | (62) |
| Increase (decrease) in accounts payable | 440 | (308) | 319 |
| Increase (decrease) in other accrued and noncurrent liabilities | 695 | (169) | 285 |
| Increase (decrease) in operating lease assets and liabilities, net | (56) | 56 | 0 |
| Net cash flows provided by operating activities | 3,631 | 2,280 | 2,517 |
| Cash flows from investing activities | |||
| Capital expenditures | (637) | (623) | (744) |
| Proceeds from purchase price refund | 32 | 0 | 0 |
| Payments for acquired businesses, net of cash acquired | (1,065) | (1,047) | 0 |
| Proceeds from the disposition of investments | 0 | 0 | 1,229 |
| Purchases of investments | (42) | (5) | (14) |
| Proceeds from sale of property, plant and equipment | 0 | 0 | 2 |
| Settlement of net investment hedges | (152) | (23) | 0 |
| Net cash flows provided by (used for) investing activities | (1,864) | (1,698) | 473 |
| Cash flows from financing activities | |||
| Proceeds (repayments) of current debt, net | (744) | 755 | (171) |
| Proceeds from issuance of long-term debt, net | 596 | 2,481 | 0 |
| Debt issuance costs | (4) | (18) | 0 |
| Repayments and redemptions of long-term debt | (459) | (513) | (1) |
| Net proceeds from stock-based compensation transactions | 215 | 180 | 192 |
| Payments to acquire treasury stock | (733) | (893) | (1,555) |
| Dividends paid to stockholders | (753) | (503) | (609) |
| Payments to noncontrolling interest holders for dividends | (8) | (10) | (6) |
| Payments of contingent consideration | (2) | (18) | (23) |
| Net cash flows provided by (used for) financing activities | (1,892) | 1,461 | (2,173) |
| Effect of exchange rate changes on Cash and cash equivalents | 61 | (8) | (11) |
| Net increase (decrease) in Cash and cash equivalents | (64) | 2,035 | 806 |
| Cash and cash equivalents at beginning of year | 5,022 | 2,987 | |
| Cash and cash equivalents at end of year | 4,958 | 5,022 | 2,987 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
ESTEE LAUDER COMPANIES INC | ||
Ticker: EL Fiscal Year: 2021 | ||
CONSOLIDATED BALANCE SHEETS | ||
Period Ending June 30, 2021 10-K (Filed: Aug 27, 2021) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| June 30, 2021 | June 30, 2020 | |
| ASSETS | ||
| Current assets | ||
| Cash and cash equivalents | $ 4,958 | 5,022 |
| Accounts receivable, net | 1,702 | 1,194 |
| Inventory and promotional merchandise | 2,505 | 2,062 |
| Prepaid expenses and other current assets | 603 | 614 |
| Total current assets | 9,768 | 8,892 |
| Property, plant and equipment, net | 2,280 | 2,055 |
| Other assets | ||
| Operating lease right-of-use assets | 2,190 | 2,282 |
| Goodwill | 2,616 | 1,401 |
| Other intangible assets, net | 4,095 | 2,338 |
| Other assets | 1,022 | 813 |
| Total other assets | 9,923 | 6,834 |
| Total assets | 21,971 | 17,781 |
| LIABILITIES AND EQUITY | ||
| Current liabilities | ||
| Current debt | 32 | 1,222 |
| Accounts payable | 1,692 | 1,177 |
| Operating lease liabilities | 379 | 375 |
| Other accrued liabilities | 3,195 | 2,405 |
| Total current liabilities | 5,298 | 5,179 |
| Noncurrent liabilities | ||
| Long-term debt | 5,537 | 4,914 |
| Long-term operating lease liabilities | 2,151 | 2,278 |
| Other noncurrent liabilities | 2,037 | 1,448 |
| Total noncurrent liabilities | 9,725 | 8,640 |
| Commitments and contingencies | ||
| Redeemable Noncontrolling Interest | 857 | 0 |
| Equity | ||
| Common stock, $.01 par value; Class A shares authorized: 1,300,000,000 at June 30, 2021 and June 30, 2020; shares issued: 462,633,034 at June 30, 2021 and 451,927,441 at June 30, 2020; Class B shares authorized: 304,000,000 at June 30, 2021 and June 30, 2020; shares issued and outstanding: 128,242,029 at June 30, 2021 and 135,235,429 at June 30, 2020 | 6 | 6 |
| Paid-in capital | 5,335 | 4,790 |
| Retained earnings | 12,244 | 10,134 |
| Accumulated other comprehensive loss | (470) | (665) |
| Stockholders' equity before treasury stock | 17,115 | 14,265 |
| Less: Treasury stock, at cost; 229,115,665 Class A shares at June 30, 2021 and 226,637,238 Class A shares at June 30, 2020 | (11,058) | (10,330) |
| Total stockholders equity The Estee Lauder Companies Inc. | 6,057 | 3,935 |
| Noncontrolling interests | 34 | 27 |
| Total equity | 6,091 | 3,962 |
| Total liabilities, redeemable noncontrolling interest and equity | 21,971 | 17,781 |
| External Links | |
| ESTEE LAUDER COMPANIES INC (EL) Fiscal Year 2021 | |
| 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 |