Estee Lauder 2012 Annual Report Download - page 125

Download and view the complete annual report

Please find page 125 of the 2012 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 174

  • 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
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174

THE EST{E LAUDER COMPANIES INC. 123
YEAR ENDED JUNE 30 2012 2011 2010
(In millions, except per share data)
Net Sales $9,713.6 $8,810.0 $7,795.8
Cost of sales 1,995.8 1,936.9 1,829.4
Gross Profit 7,717.8 6,873.1 5,966.4
Operating expenses
Selling, general and administrative 6,324.8 5,696.7 5,067.0
Restructuring and other charges 59.6 49.0 61.1
Goodwill impairment —29.3 16.6
Impairment of other intangible and long-lived assets 21.7 8.7 31.8
Total operating expenses 6,406.1 5,783.7 5,176.5
Operating Income 1,311.7 1,089.4 789.9
Interest expense, net 61.1 63.9 74.3
Interest expense on debt extinguishment —— 27.3
Other income 10.5 — —
Earnings before Income Taxes 1,261.1 1,025.5 688.3
Provision for income taxes 400.6 321.7 205.9
Net Earnings 860.5 703.8 482.4
Net earnings attributable to noncontrolling interests (3.6) (3.0) (4.1)
Net Earnings Attributable to The Estée Lauder Companies Inc. $ 856.9 $ 700.8 $ 478.3
Net earnings attributable to The Estée Lauder Companies Inc.
per common share
Basic $ 2.20 $ 1.78 $ 1.21
Diluted $ 2.16 $ 1.74 $ 1.19
Weighted-average common shares outstanding
Basic 388.7 394.0 395.4
Diluted 397.0 402.4 401.5
Cash dividends declared per common share $ .525 $ .375 $ .275
See notes to consolidated financial statements.
CONSOLIDATED STATEMENTS OF EARNINGS