Estee Lauder 2011 Annual Report Download - page 143
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THE EST{E LAUDER COMPANIES INC. 141
The following table presents the Company’s hierarchy for its financial assets and liabilities measured at fair value on a
recurring basis as of June 30, 2011:
Level 1 Level 2 Level 3 Total
(In millions)
Assets:
Foreign currency forward contracts $ — $15.0 $ — $15.0
Available-for-sale securities 6.6 — — 6.6
Total $6.6 $15.0 $ — $21.6
Liabilities:
Foreign currency forward contracts $ — $30.9 $ — $30.9
The following table presents the Company’s hierarchy for its financial assets and liabilities measured at fair value on a
recurring basis as of June 30, 2010:
Level 1 Level 2 Level 3 Total
(In millions)
Assets:
Foreign currency forward contracts $ — $19.1 $ — $19.1
Interest rate swap contracts — 38.7 — 38.7
Available-for-sale securities 5.4 — — 5.4
Total $5.4 $57.8 $ — $63.2
Liabilities:
Foreign currency forward contracts $ — $12.5 $ — $12.5
The following table presents the Company’s hierarchy and impairment charges for certain of its nonfinancial assets
measured at fair value on a nonrecurring basis during fiscal 2011:
Impairment Date of
Charges Carrying Value Carrying Value Level 3(1)
(In millions)
Goodwill $29.3 March 31, 2011 $ — $ —
Other intangible assets, net 7.0 March 31, 2011 10.0 10.0
Other intangible assets, net 1.7 April 1, 2011 — —
Total $38.0 $10.0 $10.0
(1) See Note 5— Goodwill and Other Intangible Assets for discussion of the valuation techniques used to measure fair value, the description of the inputs
and information used to develop those inputs.
The following table presents the Company’s hierarchy and impairment charges for certain of its nonfinancial assets
measured at fair value on a nonrecurring basis during fiscal 2010:
Impairment Date of
Charges Carrying Value Carrying Value Level 3(2)
(In millions)
Goodwill $16.6 December 31, 2009 $28.1 $28.1
Other intangible assets, net 29.0 December 31, 2009 41.2 41.2
Other intangible assets, net 8.9(3) June 30, 2010 — —
Long-lived assets 2.7 June 30, 2010 — —
Total $57.2 $69.3 $69.3
(2) See Note 4—Property, Plant and Equipment and Note 5 — Goodwill and Other Intangible Assets for discussion of the valuation techniques used to
measure fair value, the description of the inputs and information used to develop those inputs.
(3) Includes $8.8 million related to the reformulation of Ojon brand products, which is included in Restructuring and other special charges in the
accompanying consolidated statements of earnings.