Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

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.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

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

US$ in millions

	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	997)	2,243)	260)	266)	268)	269)	272)	281)	32)	471)	470)	473)	1,222)	1,527)	522)	520)	516)	516)	18)	183)	183)	296)	413)	552)
Accounts payable	1,670)	1,520)	1,507)	1,392)	1,822)	1,470)	1,639)	1,485)	1,692)	1,277)	1,299)	1,178)	1,177)	1,162)	1,137)	1,071)	1,490)	1,068)	995)	913)	1,182)	884)	738)	679)
Current operating lease liabilities	357)	357)	349)	340)	365)	388)	397)	371)	379)	372)	387)	399)	375)	371)	369)	346)	—)	—)	—)	—)	—)	—)	—)	—)
Other accrued liabilities	3,216)	3,580)	3,539)	3,273)	3,360)	3,287)	3,454)	3,182)	3,195)	3,077)	3,264)	2,694)	2,405)	2,621)	2,925)	2,653)	2,599)	2,647)	2,763)	2,467)	1,945)	2,208)	2,252)	1,911)
Current liabilities	6,240)	7,700)	5,655)	5,271)	5,815)	5,414)	5,762)	5,319)	5,298)	5,197)	5,420)	4,744)	5,179)	5,681)	4,953)	4,590)	4,605)	4,231)	3,776)	3,563)	3,310)	3,388)	3,403)	3,142)
Long-term debt, excluding current maturities	7,117)	5,128)	5,111)	5,107)	5,144)	5,188)	5,259)	5,267)	5,537)	5,487)	4,913)	4,913)	4,914)	4,674)	4,662)	2,895)	2,896)	2,883)	3,373)	3,361)	3,361)	3,363)	3,374)	3,383)
Long-term operating lease liabilities	1,698)	1,734)	1,757)	1,781)	1,868)	1,948)	2,028)	2,073)	2,151)	2,198)	2,314)	2,309)	2,278)	2,288)	2,318)	2,335)	—)	—)	—)	—)	—)	—)	—)	—)
Other noncurrent liabilities	1,943)	1,457)	1,487)	1,505)	1,651)	1,758)	1,937)	1,964)	2,037)	1,460)	1,492)	1,456)	1,448)	1,362)	1,403)	1,053)	1,244)	1,200)	1,194)	1,189)	1,186)	1,284)	1,238)	924)
Noncurrent liabilities	10,758)	8,319)	8,355)	8,393)	8,663)	8,894)	9,224)	9,304)	9,725)	9,145)	8,719)	8,678)	8,640)	8,324)	8,383)	6,283)	4,140)	4,083)	4,567)	4,550)	4,547)	4,647)	4,612)	4,307)
Total liabilities	16,998)	16,019)	14,010)	13,664)	14,478)	14,308)	14,986)	14,623)	15,023)	14,342)	14,139)	13,422)	13,819)	14,005)	13,336)	10,873)	8,745)	8,314)	8,343)	8,113)	7,857)	8,035)	8,015)	7,449)
Redeemable noncontrolling interest	832)	819)	819)	808)	842)	865)	840)	842)	857)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Common stock, $.01 par value	6)	6)	6)	6)	6)	6)	6)	6)	6)	6)	6)	6)	6)	6)	6)	6)	6)	6)	6)	6)	6)	6)	6)	6)
Paid-in capital	6,153)	6,103)	6,000)	5,875)	5,796)	5,746)	5,605)	5,450)	5,335)	5,231)	5,068)	4,913)	4,790)	4,760)	4,615)	4,514)	4,403)	4,331)	4,162)	4,065)	3,972)	3,911)	3,773)	3,665)
Retained earnings	13,991)	14,261)	14,342)	14,185)	13,912)	14,076)	13,735)	12,864)	12,244)	11,420)	11,159)	10,480)	10,134)	10,595)	10,775)	10,393)	9,984)	9,984)	9,586)	9,170)	9,040)	8,996)	8,733)	8,752)
Accumulated other comprehensive loss	(934)	(875)	(829)	(1,078)	(762)	(626)	(646)	(625)	(470)	(487)	(383)	(594)	(665)	(712)	(569)	(627)	(563)	(498)	(430)	(409)	(434)	(386)	(407)	(435)
Treasury stock, at cost	(13,631)	(13,618)	(13,617)	(13,471)	(13,362)	(13,052)	(12,482)	(11,614)	(11,058)	(10,642)	(10,429)	(10,353)	(10,330)	(10,320)	(10,253)	(9,756)	(9,444)	(9,235)	(9,018)	(8,426)	(7,896)	(7,816)	(7,540)	(7,257)
Stockholders’ equity, The Estée Lauder Companies Inc.	5,585)	5,877)	5,902)	5,517)	5,590)	6,150)	6,218)	6,081)	6,057)	5,528)	5,421)	4,452)	3,935)	4,329)	4,574)	4,530)	4,386)	4,588)	4,306)	4,406)	4,688)	4,711)	4,565)	4,731)
Noncontrolling interests	—)	—)	—)	—)	—)	36)	34)	34)	34)	30)	35)	29)	27)	29)	27)	28)	25)	29)	27)	24)	22)	26)	24)	22)
Total equity	5,585)	5,877)	5,902)	5,517)	5,590)	6,186)	6,252)	6,115)	6,091)	5,558)	5,456)	4,481)	3,962)	4,358)	4,601)	4,558)	4,411)	4,617)	4,333)	4,430)	4,710)	4,737)	4,589)	4,753)
Total liabilities, redeemable noncontrolling interest and equity	23,415)	22,715)	20,731)	19,989)	20,910)	21,359)	22,078)	21,580)	21,971)	19,900)	19,595)	17,903)	17,781)	18,363)	17,937)	15,431)	13,156)	12,931)	12,676)	12,543)	12,567)	12,772)	12,604)	12,202)

The analyzed data reveals distinct patterns in the liabilities and equity components over the examined periods.

Current Debt

Current debt shows a significant decrease from 552 million USD in late 2017 to a low point of 18 million USD in December 2018. Subsequently, there is a marked increase peaking at 1,527 million USD in March 2020, followed by fluctuations and a sharp rise to 2,243 million USD in March 2023. This volatility indicates varying short-term borrowing needs or refinancing activity.

Accounts Payable

Accounts payable rise steadily from 679 million USD in September 2017 to a peak around 1,822 million USD in June 2022, indicating increased short-term obligations with suppliers or service providers. The increase is less consistent, with some declines observed in late 2018 and early 2019.

Operating Lease Liabilities

Current operating lease liabilities become available only from December 2018 onwards and remain relatively stable, fluctuating around 340 to 400 million USD. Long-term operating lease liabilities trend downward from 2,335 million USD in September 2019 to 1,698 million USD by June 2023, reflecting reductions in lease commitments or lease reclassifications.

Other Accrued Liabilities

These liabilities increase overall from approximately 1,911 million USD in late 2017 to a peak of 3,639 million USD in late 2022, suggesting growing accrued expenses or provisions. The growth is steady, albeit with some seasonal or cyclical fluctuations.

Total Current Liabilities

Current liabilities show consistent growth from 3,142 million USD in September 2017 to a high of 7,700 million USD in March 2023, reflecting an overall increase in short-term obligations. The rise is punctuated by modest declines but maintains an upward trajectory.

Long-Term Debt

The long-term debt, excluding current maturities, remains relatively stable from 3,383 million USD in 2017 to around 5,117 million USD by late 2022. A notable spike occurs in December 2019, jumping to 4,662 million USD from prior levels near 2,900 million USD, which sustains above 5,000 million USD in subsequent periods, indicating increased long-term borrowing or refinancing.

Other Noncurrent Liabilities and Total Noncurrent Liabilities

Other noncurrent liabilities experience moderate fluctuations, peaking at 2,037 million USD in mid-2021 before gradually declining. Total noncurrent liabilities rise sharply in late 2019, from about 4,140 million USD to over 8,383 million USD, maintaining elevated levels through 2023. This points to increased long-term obligations possibly due to debt issuance or lease liabilities.

Total Liabilities

Total liabilities increase steadily from 7,449 million USD in late 2017 to 16,998 million USD by June 2023, with notable acceleration post-2019, suggesting heightened leverage or operational financing needs. The growth aligns with expansions in both current and noncurrent liabilities.

Redeemable Noncontrolling Interest

Data on redeemable noncontrolling interest appears intermittently from 2021, holding steady around 800–860 million USD, indicating a consistent minority stake subject to redemption.

Equity Components

Common Stock and Paid-in Capital: Common stock remains constant at 6 million USD, while paid-in capital shows consistent increases from 3,665 million USD in 2017 to 6,153 million USD in 2023, reflecting ongoing capital contributions or retained earnings allocations.
Retained Earnings: Retained earnings rise steadily from 8,752 million USD to peak around 14,342 million USD by late 2022, then show a modest decline by June 2023, representing accumulated profits retained within the company.
Accumulated Other Comprehensive Loss: This item reflects a growing negative balance from around -435 million USD in 2017 to nearly -934 million USD in mid-2023, suggesting accumulated losses from foreign currency translation or other comprehensive income components.
Treasury Stock: The cost of treasury stock increases steadily in absolute terms, from about -7,257 million USD to -13,631 million USD in 2023, indicating ongoing share repurchases or stock retirement activities which reduce overall equity.
Total Stockholders’ Equity: Total equity fluctuates over the period, initially decreasing from 4,731 million USD in 2017 to a low near 3,935 million USD in mid-2020, then recovering to over 6,200 million USD in late 2021 before declining again to approximately 5,585 million USD by June 2023. This volatility results from changes in retained earnings, treasury stock, and other equity components.

Total Liabilities and Equity

The combined total of liabilities, redeemable noncontrolling interests, and equity grows from 12,202 million USD in 2017 to 23,415 million USD in June 2023, reflecting overall growth in the company's balance sheet size.

Overall, the financial data reflects a trend of increasing liabilities, both current and long-term, particularly after 2019, accompanied by growth in equity components but with some variability. The increase in debt and liabilities may signal expanding operations or strategic financing, while equity fluctuations point to active capital management including share repurchases and income retention. The rise in operating lease liabilities followed by gradual reductions suggests shifts in lease agreements or accounting treatments over time.

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Estée Lauder Cos. Inc. (NYSE:EL)

Balance Sheet: Liabilities and Stockholders’ EquityQuarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data