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Estée Lauder Cos. Inc. (NYSE:EL)

This company has been moved to the archive! The financial data has not been updated since August 18, 2023.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

Estée Lauder Cos. Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017
Current debt 4.26 9.87 1.25 1.33 1.28 1.26 1.23 1.30 0.15 2.37 2.40 2.64 6.87 8.32 2.91 3.37 3.92 3.99 0.14 1.46 1.46 2.32 3.28 4.52
Accounts payable 7.13 6.69 7.27 6.96 8.71 6.88 7.42 6.88 7.70 6.42 6.63 6.58 6.62 6.33 6.34 6.94 11.33 8.26 7.85 7.28 9.41 6.92 5.86 5.56
Current operating lease liabilities 1.52 1.57 1.68 1.70 1.75 1.82 1.80 1.72 1.73 1.87 1.97 2.23 2.11 2.02 2.06 2.24 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other accrued liabilities 13.73 15.76 17.07 16.37 16.07 15.39 15.64 14.75 14.54 15.46 16.66 15.05 13.53 14.27 16.31 17.19 19.76 20.47 21.80 19.67 15.48 17.29 17.87 15.66
Current liabilities 26.65% 33.90% 27.28% 26.37% 27.81% 25.35% 26.10% 24.65% 24.11% 26.12% 27.66% 26.50% 29.13% 30.94% 27.61% 29.75% 35.00% 32.72% 29.79% 28.41% 26.34% 26.53% 27.00% 25.75%
Long-term debt, excluding current maturities 30.40 22.58 24.65 25.55 24.60 24.29 23.82 24.41 25.20 27.57 25.07 27.44 27.64 25.45 25.99 18.76 22.01 22.30 26.61 26.80 26.74 26.33 26.77 27.72
Long-term operating lease liabilities 7.25 7.63 8.48 8.91 8.93 9.12 9.19 9.61 9.79 11.05 11.81 12.90 12.81 12.46 12.92 15.13 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other noncurrent liabilities 8.30 6.41 7.17 7.53 7.90 8.23 8.77 9.10 9.27 7.34 7.61 8.13 8.14 7.42 7.82 6.82 9.46 9.28 9.42 9.48 9.44 10.05 9.82 7.57
Noncurrent liabilities 45.94% 36.62% 40.30% 41.99% 41.43% 41.64% 41.78% 43.11% 44.26% 45.95% 44.50% 48.47% 48.59% 45.33% 46.74% 40.72% 31.47% 31.58% 36.03% 36.28% 36.18% 36.38% 36.59% 35.30%
Total liabilities 72.59% 70.52% 67.58% 68.36% 69.24% 66.99% 67.88% 67.76% 68.38% 72.07% 72.16% 74.97% 77.72% 76.27% 74.35% 70.46% 66.47% 64.30% 65.82% 64.68% 62.52% 62.91% 63.59% 61.05%
Redeemable noncontrolling interest 3.55 3.61 3.95 4.04 4.03 4.05 3.80 3.90 3.90 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Common stock, $.01 par value 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.04 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05
Paid-in capital 26.28 26.87 28.94 29.39 27.72 26.90 25.39 25.25 24.28 26.29 25.86 27.44 26.94 25.92 25.73 29.25 33.47 33.49 32.83 32.41 31.61 30.62 29.93 30.04
Retained earnings 59.75 62.78 69.18 70.96 66.53 65.90 62.21 59.61 55.73 57.39 56.95 58.54 56.99 57.70 60.07 67.35 75.89 77.21 75.62 73.11 71.93 70.44 69.29 71.73
Accumulated other comprehensive loss -3.99 -3.85 -4.00 -5.39 -3.64 -2.93 -2.93 -2.90 -2.14 -2.45 -1.95 -3.32 -3.74 -3.88 -3.17 -4.06 -4.28 -3.85 -3.39 -3.26 -3.45 -3.02 -3.23 -3.56
Treasury stock, at cost -58.21 -59.95 -65.68 -67.39 -63.90 -61.11 -56.54 -53.82 -50.33 -53.48 -53.22 -57.83 -58.10 -56.20 -57.16 -63.22 -71.78 -71.42 -71.14 -67.18 -62.83 -61.20 -59.82 -59.47
Stockholders’ equity, The Estée Lauder Companies Inc. 23.85% 25.87% 28.47% 27.60% 26.73% 28.79% 28.16% 28.18% 27.57% 27.78% 27.67% 24.87% 22.13% 23.57% 25.50% 29.36% 33.34% 35.48% 33.97% 35.13% 37.30% 36.89% 36.22% 38.77%
Noncontrolling interests 0.00 0.00 0.00 0.00 0.00 0.17 0.15 0.16 0.15 0.15 0.18 0.16 0.15 0.16 0.15 0.18 0.19 0.22 0.21 0.19 0.18 0.20 0.19 0.18
Total equity 23.85% 25.87% 28.47% 27.60% 26.73% 28.96% 28.32% 28.34% 27.72% 27.93% 27.84% 25.03% 22.28% 23.73% 25.65% 29.54% 33.53% 35.70% 34.18% 35.32% 37.48% 37.09% 36.41% 38.95%
Total liabilities, redeemable noncontrolling interest and equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-K (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-K (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-K (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-K (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-K (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30).

The company's capital structure exhibits a long-term trend toward increased leverage, with total liabilities rising from 61.05% in September 2017 to 72.59% by June 2023. Correspondingly, total equity decreased from 38.95% to 23.85% over the same period, reaching a minimum of 22.28% in June 2020. This shift indicates an increasing reliance on external financing and obligations relative to shareholders' equity.

Liability Composition and Debt Trends
Current liabilities have fluctuated between 24.11% and 35.00%, with a notable peak of 33.90% observed in March 2023. Long-term debt, excluding current maturities, has remained a primary component of the liability structure, generally oscillating between 22% and 28% before climbing to 30.40% in June 2023. Following the appearance of operating lease liabilities in late 2019, a downward trend is observed in long-term lease obligations, which fell from 15.13% in September 2019 to 7.25% by June 2023.
Equity and Capital Returns
The decline in total equity is characterized by a significant negative impact from treasury stock, which peaked at -71.78% in June 2019. This suggests an aggressive share repurchase strategy that consistently reduced the equity base. Additionally, retained earnings as a percentage of total capital decreased from 71.73% in September 2017 to 59.75% in June 2023, reflecting a reduction in the proportional accumulation of undistributed profits.
Working Capital Obligations
Short-term obligations are primarily driven by other accrued liabilities and accounts payable. Accrued liabilities have generally ranged between 13% and 22%, while accounts payable peaked at 11.33% in June 2019. Current debt remained relatively low for most of the period, typically staying below 3%, though an anomalous spike to 9.87% occurred in March 2023.
Noncurrent Liability Shifts
Noncurrent liabilities increased from 35.30% in September 2017 to a peak of 48.59% in June 2020, before settling at 45.94% in June 2023. This increase was largely driven by the recognition of lease liabilities and fluctuations in long-term debt levels, offsetting the gradual decline in other noncurrent liabilities.

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