Estee Lauder 2002 Annual Report Download - page 2

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2Portfolio of Brands
4Chairman’s Message
10 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
54 Consolidated Balance Sheets
55 Consolidated Statements of Stockholders’ Equity
and Comprehensive Income
56 Consolidated Statements of Cash Flows
57 Notes to Consolidated Financial Statements
78 Independent Auditors’ Report
80 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,
Aramis, Clinique, Prescriptives, Origins, M.A.C,
La Mer, Bobbi Brown, Tommy Hilfiger, jane, Donna
Karan, Aveda, Stila, Jo Malone, Bumble and bumble,
and kate spade beauty.
THE AMERICAS — The Company was founded
by Estée Lauder in 1946 in New York City. In
fiscal 2002, the Americas region represented
61% of net sales and 49% of operating income
before restructuring charges.
EUROPE, THE MIDDLE EAST & AFRICA — Our
first international door opened in 1960 in
London. In fiscal 2002, Europe, the Middle East
& Africa represented 26% of net sales and
39% of operating income before restructuring
charges. This region includes results from our
travel retail business.
ASIA/PACIFIC — We established a presence
in Hong Kong in 1961. In fiscal 2002, the
Asia/Pacific region represented 13% of net
sales and 12% of operating income before
restructuring charges.
CONTENTS