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10-Q Filing

ESTEE LAUDER COMPANIES INC CIK: 1001250 Q1 2024
Filing Information
Form Type 10-Q
Accession Number 0001001250-23-000177
Period End Date 20230930
Filing Date 20231101
Fiscal Year 2024
Fiscal Period Q1
XBRL Instance el-20230930_htm.xml
Filing Contents
Balance Sheet 68 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.09B USD Point-in-time
Cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.94B USD Point-in-time
Cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.96B USD Point-in-time
Cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $4.03B USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $1.45B USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $1.91B USD Point-in-time
Inventory and promotional merchandise InventoryNet $2.98B USD Point-in-time
Inventory and promotional merchandise InventoryNet $2.86B USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $679.00M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $723.00M USD Point-in-time
Total current assets AssetsCurrent $9.14B USD Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Total current assets AssetsCurrent $8.59B USD Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $3.10B USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $3.18B USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $1.80B USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $1.79B USD Point-in-time
Treasury stock, shares TreasuryStockCommonShares 237.60M shares Point-in-time
Treasury stock, shares TreasuryStockCommonShares 237.59M shares Point-in-time
Goodwill Goodwill $2.46B USD Point-in-time
Goodwill Goodwill $2.49B USD Point-in-time
Other intangible assets, net IntangibleAssetsNetExcludingGoodwill $5.51B USD Point-in-time
Other intangible assets, net IntangibleAssetsNetExcludingGoodwill $5.60B USD Point-in-time
Other assets OtherAssetsNoncurrent $1.21B USD Point-in-time
Other assets OtherAssetsNoncurrent $1.21B USD Point-in-time
Total other assets TotalOtherAssets $11.10B USD Point-in-time
Total other assets TotalOtherAssets $10.96B USD Point-in-time
Total assets Assets $22.65B USD Point-in-time
Total assets Assets $23.41B USD Point-in-time
Current debt NotesAndLoansPayableCurrent $997.00M USD Point-in-time
Current debt NotesAndLoansPayableCurrent $1.00B USD Point-in-time
Accounts payable AccountsPayableTradeCurrent $1.67B USD Point-in-time
Accounts payable AccountsPayableTradeCurrent $1.26B USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityCurrent $352.00M USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityCurrent $357.00M USD Point-in-time
Other accrued liabilities OtherAccruedLiabilitiesCurrent $3.30B USD Point-in-time
Other accrued liabilities OtherAccruedLiabilitiesCurrent $3.22B USD Point-in-time
Total current liabilities LiabilitiesCurrent $5.91B USD Point-in-time
Total current liabilities LiabilitiesCurrent $6.24B USD Point-in-time
Long-term debt LongTermDebtAndCapitalLeaseObligations $7.12B USD Point-in-time
Long-term debt LongTermDebtAndCapitalLeaseObligations $7.09B USD Point-in-time
Long-term operating lease liabilities OperatingLeaseLiabilityNoncurrent $1.70B USD Point-in-time
Long-term operating lease liabilities OperatingLeaseLiabilityNoncurrent $1.69B USD Point-in-time
Other noncurrent liabilities OtherLiabilitiesNoncurrent $1.94B USD Point-in-time
Other noncurrent liabilities OtherLiabilitiesNoncurrent $1.79B USD Point-in-time
Total noncurrent liabilities LiabilitiesNoncurrent $10.76B USD Point-in-time
Total noncurrent liabilities LiabilitiesNoncurrent $10.57B USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Redeemable Noncontrolling Interest RedeemableNoncontrollingInterestEquityCarryingAmount $832.00M USD Point-in-time
Redeemable Noncontrolling Interest RedeemableNoncontrollingInterestEquityCarryingAmount $826.00M USD Point-in-time
Common stock, $.01 par value; Class A shares authorized: 1,300,000,000 at September 30, 2023 and June 30, 2023; shares issued: 469,905,435 at September 30, 2023 and 469,668,085 at June 30, 2023; Class B shares authorized: 304,000,000 at September 30, 2023 and June 30, 2023; shares issued and outstanding: 125,542,029 at September 30, 2023 and 125,542,029 at June 30, 2023 CommonStockValue $6.00M USD Point-in-time
Common stock, $.01 par value; Class A shares authorized: 1,300,000,000 at September 30, 2023 and June 30, 2023; shares issued: 469,905,435 at September 30, 2023 and 469,668,085 at June 30, 2023; Class B shares authorized: 304,000,000 at September 30, 2023 and June 30, 2023; shares issued and outstanding: 125,542,029 at September 30, 2023 and 125,542,029 at June 30, 2023 CommonStockValue $6.00M USD Point-in-time
Paid-in capital AdditionalPaidInCapitalCommonStock $6.25B USD Point-in-time
Paid-in capital AdditionalPaidInCapitalCommonStock $6.15B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $13.99B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $13.78B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-1.06B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-934.00M USD Point-in-time
Stockholders' equity before treasury stock StockholdersEquityBeforeTreasuryStock $18.98B USD Point-in-time
Stockholders' equity before treasury stock StockholdersEquityBeforeTreasuryStock $19.22B USD Point-in-time
Less: Treasury stock, at cost; 237,604,494 Class A shares at September 30, 2023 and 237,590,199 Class A shares at June 30, 2023 TreasuryStockValue $13.63B USD Point-in-time
Less: Treasury stock, at cost; 237,604,494 Class A shares at September 30, 2023 and 237,590,199 Class A shares at June 30, 2023 TreasuryStockValue $13.63B USD Point-in-time
Total equity StockholdersEquity $5.58B USD Point-in-time
Total equity StockholdersEquity $5.34B USD Point-in-time
Total liabilities, redeemable noncontrolling interest and equity LiabilitiesAndStockholdersEquity $22.65B USD Point-in-time
Total liabilities, redeemable noncontrolling interest and equity LiabilitiesAndStockholdersEquity $23.41B USD Point-in-time
Income Statement 38 line items
Line Item Tag Value Unit Period
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $3.52B USD 1 Quarter
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $3.93B USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $1.07B USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $1.02B USD 1 Quarter
Gross profit GrossProfit $2.91B USD 1 Quarter
Gross profit GrossProfit $2.45B USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $2.35B USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $2.24B USD 1 Quarter
Restructuring and other charges RestructuringAndRelatedCostIncurredCost $2.00M USD 1 Quarter
Restructuring and other charges RestructuringAndRelatedCostIncurredCost $1.00M USD 1 Quarter
Total operating expenses OperatingExpenses $2.35B USD 1 Quarter
Total operating expenses OperatingExpenses $2.25B USD 1 Quarter
Operating income OperatingIncomeLoss $98.00M USD 1 Quarter
Operating income OperatingIncomeLoss $661.00M USD 1 Quarter
Interest expense InterestExpense $95.00M USD 1 Quarter
Interest expense InterestExpense $46.00M USD 1 Quarter
Interest income and investment income, net InvestmentIncomeNet $15.00M USD 1 Quarter
Interest income and investment income, net InvestmentIncomeNet $41.00M USD 1 Quarter
Other components of net periodic benefit cost DefinedBenefitPlanOtherCosts $-3.00M USD 1 Quarter
Other components of net periodic benefit cost DefinedBenefitPlanOtherCosts $-2.00M USD 1 Quarter
Earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $46.00M USD 1 Quarter
Earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $633.00M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $10.00M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $143.00M USD 1 Quarter
Net earnings ProfitLoss $36.00M USD 1 Quarter
Net earnings ProfitLoss $490.00M USD 1 Quarter
Net earnings attributable to redeemable noncontrolling interest NetIncomeLossAttributableToRedeemableNoncontrollingInterest $1.00M USD 1 Quarter
Net earnings attributable to redeemable noncontrolling interest NetIncomeLossAttributableToRedeemableNoncontrollingInterest $5.00M USD 1 Quarter
Net earnings attributable to The Estee Lauder Companies Inc. NetIncomeLossAvailableToCommonStockholdersBasic $489.00M USD 1 Quarter
Net earnings attributable to The Estee Lauder Companies Inc. NetIncomeLossAvailableToCommonStockholdersBasic $31.00M USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $1.37 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.09 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.09 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $1.35 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 357.90M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 358.40M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 360.50M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 361.40M shares 1 Quarter
Cash Flow Statement 64 line items
Line Item Tag Value Unit Period
Net earnings ProfitLoss $36.00M USD 1 Quarter
Net earnings ProfitLoss $490.00M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $203.00M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $178.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-57.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-53.00M USD 1 Quarter
Non-cash stock-based compensation ShareBasedCompensation $53.00M USD 1 Quarter
Non-cash stock-based compensation ShareBasedCompensation $80.00M USD 1 Quarter
Net loss on disposal of property, plant and equipment GainLossOnSaleOfPropertyPlantEquipment $-1.00M USD 1 Quarter
Net loss on disposal of property, plant and equipment GainLossOnSaleOfPropertyPlantEquipment $-2.00M USD 1 Quarter
Non-cash restructuring and other charges RestructuringCosts $9.00M USD 1 Quarter
Non-cash restructuring and other charges RestructuringCosts $2.00M USD 1 Quarter
Pension and post-retirement benefit expense PensionAndOtherPostretirementBenefitExpense $13.00M USD 1 Quarter
Pension and post-retirement benefit expense PensionAndOtherPostretirementBenefitExpense $13.00M USD 1 Quarter
Pension and post-retirement benefit contributions PaymentOfPensionAndOtherPostretirementBenefitContributions $5.00M USD 1 Quarter
Pension and post-retirement benefit contributions PaymentOfPensionAndOtherPostretirementBenefitContributions $54.00M USD 1 Quarter
Other non-cash items OtherNoncashIncomeExpense $3.00M USD 1 Quarter
Other non-cash items OtherNoncashIncomeExpense $-7.00M USD 1 Quarter
Increase in accounts receivable, net IncreaseDecreaseInAccountsReceivable $579.00M USD 1 Quarter
Increase in accounts receivable, net IncreaseDecreaseInAccountsReceivable $477.00M USD 1 Quarter
Decrease (increase) in inventory and promotional merchandise IncreaseDecreaseInInventories $-62.00M USD 1 Quarter
Decrease (increase) in inventory and promotional merchandise IncreaseDecreaseInInventories $229.00M USD 1 Quarter
Decrease (increase) in other assets, net IncreaseDecreaseInOtherOperatingAssets $17.00M USD 1 Quarter
Decrease (increase) in other assets, net IncreaseDecreaseInOtherOperatingAssets $-3.00M USD 1 Quarter
Decrease in accounts payable IncreaseDecreaseInAccountsPayableTrade $-255.00M USD 1 Quarter
Decrease in accounts payable IncreaseDecreaseInAccountsPayableTrade $-375.00M USD 1 Quarter
Increase (decrease) in other accrued and noncurrent liabilities IncreaseDecreaseInOtherOperatingLiabilities $-135.00M USD 1 Quarter
Increase (decrease) in other accrued and noncurrent liabilities IncreaseDecreaseInOtherOperatingLiabilities $51.00M USD 1 Quarter
Decrease in operating lease assets and liabilities, net IncreaseDecreaseInOperatingLeaseAssetsAndLiabilitiesNet $-3.00M USD 1 Quarter
Decrease in operating lease assets and liabilities, net IncreaseDecreaseInOperatingLeaseAssetsAndLiabilitiesNet $-19.00M USD 1 Quarter
Net cash flows used for operating activities NetCashProvidedByUsedInOperatingActivities $-408.00M USD 1 Quarter
Net cash flows used for operating activities NetCashProvidedByUsedInOperatingActivities $-650.00M USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $295.00M USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $152.00M USD 1 Quarter
Settlement of net investment hedges PaymentsForProceedsFromHedgeInvestingActivities $-138.00M USD 1 Quarter
Settlement of net investment hedges PaymentsForProceedsFromHedgeInvestingActivities - USD 1 Quarter
Net cash flows used for investing activities NetCashProvidedByUsedInInvestingActivities $-14.00M USD 1 Quarter
Net cash flows used for investing activities NetCashProvidedByUsedInInvestingActivities $-295.00M USD 1 Quarter
Proceeds (repayments) of current debt, net ProceedsFromRepaymentsOfShortTermDebt $-1.00M USD 1 Quarter
Proceeds (repayments) of current debt, net ProceedsFromRepaymentsOfShortTermDebt $249.00M USD 1 Quarter
Repayments and redemptions of long-term debt ProceedsFromRepaymentsOfLongTermDebtAndCapitalSecurities $-3.00M USD 1 Quarter
Repayments and redemptions of long-term debt ProceedsFromRepaymentsOfLongTermDebtAndCapitalSecurities $-254.00M USD 1 Quarter
Net proceeds from stock-based compensation transactions ProceedsFromStockOptionsExercised $15.00M USD 1 Quarter
Net proceeds from stock-based compensation transactions ProceedsFromStockOptionsExercised $26.00M USD 1 Quarter
Payments to acquire treasury stock PaymentsForRepurchaseOfCommonStock $3.00M USD 1 Quarter
Payments to acquire treasury stock PaymentsForRepurchaseOfCommonStock $110.00M USD 1 Quarter
Settlement of cross-currency swap ProceedsFromDerivativeInstrumentFinancingActivities $9.00M USD 1 Quarter
Settlement of cross-currency swap ProceedsFromDerivativeInstrumentFinancingActivities - USD 1 Quarter
Dividends paid to stockholders PaymentsOfDividendsCommonStock $215.00M USD 1 Quarter
Dividends paid to stockholders PaymentsOfDividendsCommonStock $236.00M USD 1 Quarter
Net cash flows used for financing activities NetCashProvidedByUsedInFinancingActivities $-219.00M USD 1 Quarter
Net cash flows used for financing activities NetCashProvidedByUsedInFinancingActivities $-304.00M USD 1 Quarter
Effect of exchange rate changes on Cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-51.00M USD 1 Quarter
Effect of exchange rate changes on Cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-17.00M USD 1 Quarter
Net decrease in Cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-1.02B USD 1 Quarter
Net decrease in Cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-939.00M USD 1 Quarter
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.09B USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.94B USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.96B USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $4.03B USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.09B USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.94B USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.96B USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $4.03B USD Point-in-time
Comprehensive Income 24 line items
Line Item Tag Value Unit Period
Net earnings ProfitLoss $36.00M USD 1 Quarter
Net earnings ProfitLoss $490.00M USD 1 Quarter
Net cash flow hedge gain OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTax $49.00M USD 1 Quarter
Net cash flow hedge gain OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTax $19.00M USD 1 Quarter
Cross-currency swap contract gain OtherComprehensiveIncomeLossFairValueHedgeGainLossAfterReclassificationBeforeTax - USD 1 Quarter
Cross-currency swap contract gain OtherComprehensiveIncomeLossFairValueHedgeGainLossAfterReclassificationBeforeTax - USD 1 Quarter
Retirement plan and other retiree benefit adjustments OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax $1.00M USD 1 Quarter
Retirement plan and other retiree benefit adjustments OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax - USD 1 Quarter
Translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax $-381.00M USD 1 Quarter
Translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax $-120.00M USD 1 Quarter
Provision for income taxes on components of other comprehensive income OtherComprehensiveIncomeLossTax $19.00M USD 1 Quarter
Provision for income taxes on components of other comprehensive income OtherComprehensiveIncomeLossTax $38.00M USD 1 Quarter
Total other comprehensive loss, net of tax OtherComprehensiveIncomeLossNetOfTax $-140.00M USD 1 Quarter
Total other comprehensive loss, net of tax OtherComprehensiveIncomeLossNetOfTax $-351.00M USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-104.00M USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $139.00M USD 1 Quarter
Net earnings NetIncomeLossAttributableToRedeemableNoncontrollingInterest $1.00M USD 1 Quarter
Net earnings NetIncomeLossAttributableToRedeemableNoncontrollingInterest $5.00M USD 1 Quarter
Translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToRedeemableNoncontrollingInterest $-35.00M USD 1 Quarter
Translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToRedeemableNoncontrollingInterest $-11.00M USD 1 Quarter
Total comprehensive loss attributable to redeemable noncontrolling interest ComprehensiveIncomeLossNetOfTaxAttributableToRedeemableNoncontrollingInterest $-34.00M USD 1 Quarter
Total comprehensive loss attributable to redeemable noncontrolling interest ComprehensiveIncomeLossNetOfTaxAttributableToRedeemableNoncontrollingInterest $-6.00M USD 1 Quarter
Comprehensive income (loss) attributable to The Estee Lauder Companies Inc. ComprehensiveIncomeNetOfTax $-98.00M USD 1 Quarter
Comprehensive income (loss) attributable to The Estee Lauder Companies Inc. ComprehensiveIncomeNetOfTax $173.00M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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