Estee Lauder 2004 Annual Report Download - page 3

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CONTENTS
1
02 Tribute to Mrs. Estée Lauder
04 Portfolio of Brands
08 Chairman’s Message
13 Chief Executive’s Review
34 Board of Directors
35 Officers
36 Financial Highlights
37 Selected Financial Data
38 Consolidated Statements of Earnings
39 Management’s Discussion and Analysis of
Financial Condition and Results of Operations
56 Consolidated Balance Sheets
57 Consolidated Statements of Stockholders’ Equity
and Comprehensive Income
58 Consolidated Statements of Cash Flows
59 Notes to Consolidated Financial Statements
83 Report of Independent Registered Public
Accounting Firm
84 Stockholder Information
THE EST{E LAUDER COMPANIES INC.
The Estée Lauder Companies Inc. is one of the world’s leading manufacturers and marketers of quality skin
care, makeup, fragrance and hair care products. The Company’s products are sold in over 130 countries and
territories under well-recognized brand names, including Estée Lauder, Clinique, Aramis, Prescriptives,
Origins, M.A.C, Bobbi Brown, Tommy Hilfiger, La Mer, Donna Karan, Aveda, Stila, Jo Malone, Bumble and
bumble, kate spade beauty, Darphin, Michael Kors and Rodan + Fields.
THE AMERICAS — The Company was founded by Estée Lauder in 1946 in New York City.
In fiscal 2004, the Americas region represented 55% of net sales and 49% of
operating income.
EUROPE, THE MIDDLE EAST & AFRICA — Our first international door opened in 1960 in
London. In fiscal 2004, Europe, the Middle East & Africa represented 32% of net sales
and 43% of operating income. This region includes results from our travel retail business.
ASIA/PACIFIC — We established a presence in Hong Kong in 1961. In fiscal 2004, the
Asia/Pacific region represented 13% of net sales and 8% of operating income.