Estee Lauder 2004 Annual Report Download - page 58

Download and view the complete annual report

Please find page 58 of the 2004 Estee Lauder annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 86

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86

THE EST{E LAUDER COMPANIES INC.
CONSOLIDATED BALANCE SHEETS
JUNE 30 2004 2003
(In millions, except share data)
ASSETS
Current Assets
Cash and cash equivalents $ 611.6 $ 364.1
Accounts receivable, net 664.9 634.2
Inventory and promotional merchandise, net 653.5 599.0
Prepaid expenses and other current assets 269.2 247.6
Total current assets 2,199.2 1,844.9
Property, Plant and Equipment, net 647.0 607.7
Other Assets
Investments, at cost or market value 12.6 14.0
Goodwill, net 672.3 695.3
Other intangible assets, net 71.9 65.4
Other assets, net 105.1 122.6
Total other assets 861.9 897.3
Total assets $3,708.1 $3,349.9
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities
Short-term debt $ 73.8 $ 7.8
Accounts payable 267.3 229.9
Accrued income taxes 109.4 111.9
Other accrued liabilities 871.5 704.0
Total current liabilities 1,322.0 1,053.6
Noncurrent Liabilities
Long-term debt 461.5 283.6
Other noncurrent liabilities 175.6 216.8
Total noncurrent liabilities 637.1 500.4
Commitments and Contingencies (see Note 15)
$6.50 Cumulative Redeemable Preferred Stock, at redemption value — 360.0
Minority interest 15.5 12.3
Stockholders’ Equity
Common stock, $.01 par value; 650,000,000 shares Class A authorized; shares issued:
150,969,807 in 2004 and 133,616,710 in 2003; 240,000,000 shares Class B authorized;
shares issued and outstanding: 93,012,901 in 2004 and 107,462,533 in 2003 2.4 2.4
Paid-in capital 382.3 293.7
Retained earnings 1,887.2 1,613.6
Accumulated other comprehensive income (loss) 10.5 (53.1)
2,282.4 1,856.6
Less: Treasury stock, at cost; 16,455,660 Class A shares at June 30, 2004 and
13,623,060 Class A shares at June 30, 2003 (548.9) (433.0)
Total stockholders’ equity 1,733.5 1,423.6
Total liabilities and stockholders’ equity $3,708.1 $3,349.9
See notes to consolidated financial statements.
56