Estee Lauder 2003 Annual Report Download - page 57

Download and view the complete annual report

Please find page 57 of the 2003 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 87

  • 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
  • 87

THEEST{E LAUDER COMPANIES INC.
CONSOLIDATED BALANCE SHEETS
JUNE 30 2003 2002
(In millions, except share data)
ASSETS
Current Assets
Cash and cash equivalents $364.1 $ 546.9
Accounts receivable, net 634.2 624.8
Inventory and promotional merchandise, net 599.0 544.5
Prepaid expenses and other current assets 247.6 211.4
Total current assets 1,844.9 1,927.6
Property, Plant and Equipment, net 607.7 580.7
Other Assets
Investments, at cost or market value 14.0 30.3
Deferred income taxes 38.7 72.7
Goodwill, net 695.3 675.6
Other intangible assets, net 65.4 18.4
Other assets, net 83.9 111.2
Total other assets 897.3 908.2
Total assets $3,349.9 $3,416.5
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities
Short-term debt $7.8 $ 6.6
Accounts payable 229.9 216.4
Accrued income taxes 111.9 110.0
Other accrued liabilities 704.0 626.6
Total current liabilities 1,053.6 959.6
Noncurrent Liabilities
Long-term debt 283.6 403.9
Other noncurrent liabilities 216.8 220.9
Total noncurrent liabilities 500.4 624.8
Commitments and Contingencies (see Note 15)
$6.50 Cumulative Redeemable Preferred Stock, at redemption value 360.0 360.0
Minority interest 12.3 10.2
Stockholders’ Equity
Common stock, $.01 par value; 650,000,000 shares Class A authorized; shares issued:
133,616,710 in 2003 and 131,567,986 in 2002; 240,000,000 shares Class B authorized;
shares issued and outstanding: 107,462,533 in 2003 and 108,412,533 in 2002 2.4 2.4
Paid-in capital 293.7 268.8
Retained earnings 1,613.6 1,363.7
Accumulated other comprehensive income (loss) (53.1) (92.5)
1,856.6 1,542.4
Less: Treasury stock, at cost; 13,623,060 Class A shares at June 30, 2003 and
2,377,860 Class A shares at June 30, 2002 (433.0) (80.5)
Total stockholders’ equity 1,423.6 1,461.9
Total liabilities and stockholders’ equity $3,349.9 $3,416.5
See notes to consolidated financial statements.
56