Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

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Estée Lauder Cos. Inc., consolidated balance sheet: assets

US$ in millions

		Jun 30, 2023		Jun 30, 2022		Jun 30, 2021		Jun 30, 2020		Jun 30, 2019		Jun 30, 2018
	Cash and cash equivalents
	Short-term investments
	Accounts receivable, net
	Inventory and promotional merchandise
	Prepaid expenses and other current assets
	Current assets
	Property, plant and equipment, net
	Operating lease right-of-use assets
	Goodwill
	Other intangible assets, net
	Other assets
	Other assets
	Noncurrent assets
	Total assets

Based on: 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30).

The analysis of the financial data reveals several noteworthy trends in asset composition and overall financial standing over the six-year span ending June 30, 2023.

Cash and Cash Equivalents: There was a substantial increase in cash and cash equivalents from $2,181 million in 2018 to a peak of $5,022 million in 2020, followed by a decrease to around $4,029 million by 2023. This fluctuation suggests active liquidity management possibly aligned with operational or investment needs.
Short-term Investments: Reported only in 2018 at $534 million, no subsequent values are provided, indicating either divestment or changes in classification that affect comparability over time.
Accounts Receivable, Net: After rising to $1,831 million in 2019, accounts receivable declined notably to $1,194 million in 2020, then showed some recovery but remained below earlier peaks, ending at $1,452 million in 2023. This may reflect changes in sales terms or collections efficiency.
Inventory and Promotional Merchandise: This asset category exhibited steady growth from $1,618 million in 2018 to $2,979 million in 2023, indicating increased stock levels possibly due to higher sales volume or inventory buildup strategies.
Prepaid Expenses and Other Current Assets: Prepaid expenses and other current assets grew moderately from $348 million in 2018 to a peak of $792 million in 2022, before declining to $679 million in 2023, suggesting fluctuations in advance payments or other current asset components.
Current Assets: Overall current assets expanded from $6,168 million in 2018 to nearly $9,768 million in 2021, followed by a slight decrease to $9,139 million in 2023, reflecting the combined trends of the constituent components.
Property, Plant and Equipment, Net: There was a consistent increase in net property, plant, and equipment from $1,823 million in 2018 to $3,179 million in 2023, indicative of ongoing capital investment in fixed assets.
Operating Lease Right-of-Use Assets: First reported in 2020 at $2,282 million, this asset declined steadily to $1,797 million in 2023, which may reflect lease terminations or amortization over time.
Goodwill: Goodwill showed a decline from $1,926 million in 2018 to $1,401 million in 2020, then rebounded sharply to $2,616 million in 2021 before slightly decreasing to $2,486 million in 2023, pointing to acquisitions or impairment adjustments.
Other Intangible Assets, Net: This category nearly doubled from $1,276 million in 2018 to $2,338 million in 2020, then surged to $5,602 million in 2023, indicating significant investment or capitalization of intangible assets.
Other Assets: Two line items labeled "Other assets" show volatility. One increased gradually from $1,374 million in 2018 to $1,212 million in 2023, while the other rose substantially from $4,576 million in 2018 to $11,097 million in 2023, denoting possible reclassifications or expanding noncurrent asset holdings.
Noncurrent Assets: Noncurrent assets increased markedly from $6,399 million in 2018 to $14,276 million in 2023, nearly doubling over the period and underscoring substantial investment in long-term resources.
Total Assets: The total assets grew from $12,567 million in 2018 to $23,415 million in 2023, reflecting the overall growth and expansion of the asset base, with a minor dip in 2022 relative to 2021.

Assets: Selected Items

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Current Assets: Selected Items