ESTEE LAUDER COMPANIES INC
For the period ended Jun 30, 2024. Filed Aug 19, 2024.
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FY2024 · Filed Aug 19, 2024
EL$113.43+0.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows F-
CONSOLIDATED STATEMENTS OF CASH FLOWS
| (In millions) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Cash flows from operating activities | |||
| Net earnings | $409 | $1,010 | $2,408 |
| Adjustments to reconcile net earnings to net cash flows from operating activities: | |||
| Depreciation and amortization | 825 | 744 | 727 |
| Deferred income taxes | (265) | (186) | (149) |
| Non-cash stock-based compensation | 325 | 267 | 331 |
| Net loss on disposal of property, plant and equipment | 9 | 13 | 8 |
| Non-cash restructuring and other charges | 7 | 36 | 14 |
| Pension and post-retirement benefit expense | 50 | 53 | 78 |
| Pension and post-retirement benefit contributions | (116) | (49) | (56) |
| Impairment of goodwill and other intangible assets | 471 | 207 | 241 |
| Gain on previously held equity method investment | — | — | (1) |
| Other non-cash items | 14 | (8) | (7) |
| Changes in operating assets and liabilities: | |||
| Decrease (increase) in accounts receivable, net | (285) | 185 | (10) |
| Decrease (increase) in inventory and promotional merchandise | 766 | (64) | (602) |
| Decrease (increase) in other assets, net | 15 | 26 | (101) |
| Increase (decrease) in accounts payable | (38) | (333) | 210 |
| Increase (decrease) in other accrued and noncurrent liabilities | 209 | (129) | 1 |
| Decrease in operating lease assets and liabilities, net | (36) | (41) | (52) |
| Net cash flows provided by operating activities | 2,360 | 1,731 | 3,040 |
| Cash flows from investing activities | |||
| Capital expenditures | (919) | (1,003) | (1,040) |
| Payments for acquired business | — | — | (3) |
| Purchases of other intangible assets | — | (2,286) | — |
| Purchases of investments | (18) | (8) | (10) |
| Settlement of net investment hedges | (23) | 80 | 108 |
| Net cash flows used for investing activities | (960) | (3,217) | (945) |
| Cash flows from financing activities | |||
| Proceeds (repayments) of current debt, net | (215) | 218 | (4) |
| Proceeds from issuance of commercial paper (maturities after three months) | — | 765 | — |
| Repayments of commercial paper (maturities after three months) | (785) | — | — |
| Proceeds from issuance of long-term debt, net | 648 | 1,995 | — |
| Debt issuance costs | (4) | (15) | (1) |
| Repayments and redemptions of long-term debt | (10) | (265) | (18) |
| Net proceeds from stock-based compensation transactions | 40 | 88 | 151 |
| Payment for acquisition of noncontrolling interest | — | — | (15) |
| Payments for acquisition of redeemable noncontrolling interest | (745) | — | — |
| Payments to acquire treasury stock | (35) | (271) | (2,309) |
| Settlement of cross-currency swaps | 18 | — | — |
| Dividends paid to stockholders | (947) | (925) | (840) |
| Net cash flows provided by (used for) financing activities | (2,035) | 1,590 | (3,036) |
| Effect of exchange rate changes on Cash and cash equivalents | 1 | (32) | (60) |
| Net increase (decrease) in Cash and cash equivalents | (634) | 72 | (1,001) |
| Cash and cash equivalents at beginning of year | 4,029 | 3,957 | 4,958 |
| Cash and cash equivalents at end of year | $3,395 | $4,029 | $3,957 |
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