Adjustments to Financial Statements
Advanced level
Adjustments to Current Assets
Estée Lauder Cos. Inc., adjusted current assets
US$ in millions
|
|
Jun 30, 2020 |
Jun 30, 2019 |
Jun 30, 2018 |
Jun 30, 2017 |
Jun 30, 2016 |
Jun 30, 2015 |
|
As Reported |
|
|
Current assets |
8,892 | 7,212 | 6,168 | 4,964 | 4,225 | 4,469 |
|
Adjustments |
|
|
Add: Allowance for doubtful accounts and customer deductions |
63 | 32 | 29 | 30 | 24 | 21 |
|
|
Less: Current net deferred tax assets (included in Prepaid expenses and other current assets)1 |
— | — | — | — | — | 279 |
|
After Adjustment |
|
|
Adjusted current assets |
8,955 |
7,244 |
6,197 |
4,994 |
4,249 |
4,210 |
Based on:
10-K (filing date: 2020-08-28),
10-K (filing date: 2019-08-23),
10-K (filing date: 2018-08-24),
10-K (filing date: 2017-08-25),
10-K (filing date: 2016-08-24),
10-K (filing date: 2015-08-20).
1 Current net deferred tax assets (included in Prepaid expenses and other current assets). See details »
Adjustments to Total Assets
Estée Lauder Cos. Inc., adjusted total assets
US$ in millions
|
|
Jun 30, 2020 |
Jun 30, 2019 |
Jun 30, 2018 |
Jun 30, 2017 |
Jun 30, 2016 |
Jun 30, 2015 |
|
As Reported |
|
|
Total assets |
17,781 | 13,156 | 12,567 | 11,568 | 9,223 | 8,239 |
|
Adjustments |
|
|
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)1 |
— | 2,826 | 2,777 | 2,090 | 1,780 | 1,577 |
|
|
Add: Allowance for doubtful accounts and customer deductions |
63 | 32 | 29 | 30 | 24 | 21 |
|
|
Less: Current net deferred tax assets (included in Prepaid expenses and other current assets)2 |
— | — | — | — | — | 279 |
|
|
Less: Noncurrent net deferred tax assets (included in Other assets)3 |
44 | 295 | 120 | 322 | 422 | 72 |
|
After Adjustment |
|
|
Adjusted total assets |
17,800 |
15,719 |
15,253 |
13,366 |
10,605 |
9,486 |
Based on:
10-K (filing date: 2020-08-28),
10-K (filing date: 2019-08-23),
10-K (filing date: 2018-08-24),
10-K (filing date: 2017-08-25),
10-K (filing date: 2016-08-24),
10-K (filing date: 2015-08-20).
1 Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »
2 Current net deferred tax assets (included in Prepaid expenses and other current assets). See details »
3 Noncurrent net deferred tax assets (included in Other assets). See details »
Adjustments to Current Liabilities
Estée Lauder Cos. Inc., adjusted current liabilities
US$ in millions
|
|
Jun 30, 2020 |
Jun 30, 2019 |
Jun 30, 2018 |
Jun 30, 2017 |
Jun 30, 2016 |
Jun 30, 2015 |
|
As Reported |
|
|
Current liabilities |
5,179 | 4,605 | 3,310 | 2,823 | 2,681 | 2,136 |
|
Adjustments |
|
|
Less: Current deferred revenue |
222 | 314 | — | — | — | — |
|
After Adjustment |
|
|
Adjusted current liabilities |
4,957 |
4,291 |
3,310 |
2,823 |
2,681 |
2,136 |
Based on:
10-K (filing date: 2020-08-28),
10-K (filing date: 2019-08-23),
10-K (filing date: 2018-08-24),
10-K (filing date: 2017-08-25),
10-K (filing date: 2016-08-24),
10-K (filing date: 2015-08-20).
Adjustments to Total Liabilities
Estée Lauder Cos. Inc., adjusted total liabilities
US$ in millions
|
|
Jun 30, 2020 |
Jun 30, 2019 |
Jun 30, 2018 |
Jun 30, 2017 |
Jun 30, 2016 |
Jun 30, 2015 |
|
As Reported |
|
|
Total liabilities |
13,819 | 8,745 | 7,857 | 7,166 | 5,636 | 4,585 |
|
Adjustments |
|
|
Add: Operating lease liability (before adoption of FASB Topic 842)1 |
— | 2,826 | 2,777 | 2,090 | 1,780 | 1,577 |
|
|
Less: Deferred revenue |
279 | 361 | — | — | — | — |
|
|
Less: Accrued restructuring charges |
112 | 204 | 182 | 151 | 77 | — |
|
After Adjustment |
|
|
Adjusted total liabilities |
13,428 |
11,006 |
10,452 |
9,105 |
7,340 |
6,162 |
Based on:
10-K (filing date: 2020-08-28),
10-K (filing date: 2019-08-23),
10-K (filing date: 2018-08-24),
10-K (filing date: 2017-08-25),
10-K (filing date: 2016-08-24),
10-K (filing date: 2015-08-20).
1 Operating lease liability (before adoption of FASB Topic 842). See details »
Adjustments to Stockholders’ Equity
Estée Lauder Cos. Inc., adjusted stockholders’ equity, The Estée Lauder Companies Inc.
US$ in millions
|
|
Jun 30, 2020 |
Jun 30, 2019 |
Jun 30, 2018 |
Jun 30, 2017 |
Jun 30, 2016 |
Jun 30, 2015 |
|
As Reported |
|
|
Stockholders’ equity, The Estée Lauder Companies Inc. |
3,935 | 4,386 | 4,688 | 4,384 | 3,572 | 3,643 |
|
Adjustments |
|
|
Less: Net deferred tax assets (liabilities)1 |
44 | 295 | 120 | 322 | 422 | 351 |
|
|
Add: Allowance for doubtful accounts and customer deductions |
63 | 32 | 29 | 30 | 24 | 21 |
|
|
Add: Deferred revenue |
279 | 361 | — | — | — | — |
|
|
Add: Accrued restructuring charges |
112 | 204 | 182 | 151 | 77 | — |
|
|
Add: Noncontrolling interests |
27 | 25 | 22 | 18 | 15 | 11 |
|
After Adjustment |
|
|
Adjusted total equity |
4,372 |
4,713 |
4,801 |
4,261 |
3,266 |
3,324 |
Based on:
10-K (filing date: 2020-08-28),
10-K (filing date: 2019-08-23),
10-K (filing date: 2018-08-24),
10-K (filing date: 2017-08-25),
10-K (filing date: 2016-08-24),
10-K (filing date: 2015-08-20).
Adjustments to Capitalization Table
Estée Lauder Cos. Inc., adjusted capitalization table
US$ in millions
|
|
Jun 30, 2020 |
Jun 30, 2019 |
Jun 30, 2018 |
Jun 30, 2017 |
Jun 30, 2016 |
Jun 30, 2015 |
|
As Reported |
|
|
Current debt |
1,222 | 516 | 183 | 189 | 332 | 30 |
|
|
Long-term debt, excluding current maturities |
4,914 | 2,896 | 3,361 | 3,383 | 1,910 | 1,608 |
|
|
Total reported debt |
6,136 |
3,412 |
3,544 |
3,572 |
2,242 |
1,637 |
|
|
Stockholders’ equity, The Estée Lauder Companies Inc. |
3,935 | 4,386 | 4,688 | 4,384 | 3,572 | 3,643 |
|
|
Total reported capital |
10,071 |
7,798 |
8,232 |
7,956 |
5,813 |
5,281 |
|
Adjustments to Debt |
|
|
Add: Operating lease liability (before adoption of FASB Topic 842)1 |
— | 2,826 | 2,777 | 2,090 | 1,780 | 1,577 |
|
|
Add: Current operating lease liabilities2 |
375 | — | — | — | — | — |
|
|
Add: Long-term operating lease liabilities3 |
2,278 | — | — | — | — | — |
|
|
Adjusted total debt |
8,789 |
6,238 |
6,321 |
5,662 |
4,022 |
3,215 |
|
Adjustments to Equity |
|
|
Less: Net deferred tax assets (liabilities)4 |
44 | 295 | 120 | 322 | 422 | 351 |
|
|
Add: Allowance for doubtful accounts and customer deductions |
63 | 32 | 29 | 30 | 24 | 21 |
|
|
Add: Deferred revenue |
279 | 361 | — | — | — | — |
|
|
Add: Accrued restructuring charges |
112 | 204 | 182 | 151 | 77 | — |
|
|
Add: Noncontrolling interests |
27 | 25 | 22 | 18 | 15 | 11 |
|
|
Adjusted total equity |
4,372 |
4,713 |
4,801 |
4,261 |
3,266 |
3,324 |
|
After Adjustment |
|
|
Adjusted total capital |
13,161 |
10,951 |
11,122 |
9,923 |
7,288 |
6,539 |
Based on:
10-K (filing date: 2020-08-28),
10-K (filing date: 2019-08-23),
10-K (filing date: 2018-08-24),
10-K (filing date: 2017-08-25),
10-K (filing date: 2016-08-24),
10-K (filing date: 2015-08-20).
Adjustments to Revenues
Estée Lauder Cos. Inc., adjusted net sales
US$ in millions
|
12 months ended: |
Jun 30, 2020 |
Jun 30, 2019 |
Jun 30, 2018 |
Jun 30, 2017 |
Jun 30, 2016 |
Jun 30, 2015 |
|
As Reported |
|
|
Net sales |
14,294 | 14,863 | 13,683 | 11,824 | 11,262 | 10,780 |
|
Adjustment |
|
|
Add: Increase (decrease) in deferred revenue |
(82) | (19) | — | — | — | — |
|
After Adjustment |
|
|
Adjusted net sales |
14,212 |
14,844 |
13,683 |
11,824 |
11,262 |
10,780 |
Based on:
10-K (filing date: 2020-08-28),
10-K (filing date: 2019-08-23),
10-K (filing date: 2018-08-24),
10-K (filing date: 2017-08-25),
10-K (filing date: 2016-08-24),
10-K (filing date: 2015-08-20).
Adjustments to Reported Income
Estée Lauder Cos. Inc., adjusted net earnings attributable to The Estée Lauder Companies Inc.
US$ in millions
|
12 months ended: |
Jun 30, 2020 |
Jun 30, 2019 |
Jun 30, 2018 |
Jun 30, 2017 |
Jun 30, 2016 |
Jun 30, 2015 |
|
As Reported |
|
|
Net earnings attributable to The Estée Lauder Companies Inc. |
684 | 1,785 | 1,108 | 1,249 | 1,115 | 1,089 |
|
Adjustments |
|
|
Add: Deferred income tax expense (benefit)1 |
(143) | (66) | 175 | (118) | (94) | (53) |
|
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Add: Increase (decrease) in allowance for doubtful accounts and customer deductions |
31 | 3 | (1) | 6 | 4 | (3) |
|
|
Add: Increase (decrease) in deferred revenue |
(82) | (19) | — | — | — | — |
|
|
Add: Increase (decrease) in accrued restructuring charges |
(91) | 22 | 31 | 74 | 77 | (8) |
|
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Add: Other comprehensive income (loss) |
(102) | (129) | 82 | 61 | (164) | (283) |
|
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Add: Comprehensive income (loss), net of tax, attributable to noncontrolling interest |
12 | 9 | 9 | 7 | 6 | 2 |
|
After Adjustment |
|
|
Adjusted net earnings |
309 |
1,605 |
1,404 |
1,279 |
943 |
744 |
Based on:
10-K (filing date: 2020-08-28),
10-K (filing date: 2019-08-23),
10-K (filing date: 2018-08-24),
10-K (filing date: 2017-08-25),
10-K (filing date: 2016-08-24),
10-K (filing date: 2015-08-20).
