ESTEE LAUDER COMPANIES INC
For the period ended Jun 30, 2025. Filed Aug 20, 2025.
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FY2025 · Filed Aug 20, 2025
EL$113.43+0.2%Stored close · as of Nov 10, 2026
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Consolidated Statements of Cash Flows F-
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended June 30, | |||
|---|---|---|---|
| (In millions) | 2025 | 2024 | 2023 |
| Cash flows from operating activities | |||
| Net (loss) earnings | $(1,133) | $409 | $1,010 |
| Adjustments to reconcile net (loss) earnings to net cash flows from operating activities: | |||
| Depreciation and amortization | 829 | 825 | 744 |
| Deferred income taxes | (396) | (265) | (186) |
| Non-cash stock-based compensation | 304 | 325 | 267 |
| Net loss on disposal of property, plant and equipment | 19 | 9 | 13 |
| Non-cash restructuring and other charges | 20 | 7 | 36 |
| Pension and post-retirement benefit expense | 76 | 50 | 53 |
| Pension and post-retirement benefit contributions | (92) | (116) | (49) |
| Impairment of goodwill and other intangible assets | 1,286 | 471 | 207 |
| Other adjustments and non-cash items | 10 | 14 | (8) |
| Changes in operating assets and liabilities: | |||
| Decrease (increase) in accounts receivable, net | 230 | (285) | 185 |
| Decrease (increase) in inventory and promotional merchandise | 184 | 766 | (64) |
| (Increase) decrease in other assets, net | (11) | 15 | 26 |
| Increase (decrease) in accounts payable | 21 | (38) | (333) |
| (Decrease) increase in other accrued and noncurrent liabilities | (41) | 209 | (129) |
| Decrease in operating lease assets and liabilities, net | (34) | (36) | (41) |
| Net cash flows provided by operating activities | 1,272 | 2,360 | 1,731 |
| Cash flows from investing activities | |||
| Purchases of investments | (1) | (18) | (8) |
| Capital expenditures | (602) | (919) | (1,003) |
| Proceeds from sale of property, plant and equipment | 3 | — | — |
| Purchases of other intangible assets | — | — | (2,286) |
| Settlement of net investment hedges | (23) | (23) | 80 |
| Net cash flows used for investing activities | (623) | (960) | (3,217) |
| Cash flows from financing activities | |||
| (Repayments) proceeds of current debt, net | — | (215) | 218 |
| 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 |
| Repayments of long-term debt | (505) | (10) | (265) |
| Debt issuance costs | — | (4) | (15) |
| Settlement of cross-currency swaps | 20 | 18 | — |
| Net proceeds from stock-based compensation transactions | 15 | 40 | 88 |
| Dividends paid to stockholders | (618) | (947) | (925) |
| Payments to acquire treasury stock | (35) | (35) | (271) |
| Payment for acquisition of noncontrolling interest | (21) | — | — |
| Payment for acquisition of redeemable noncontrolling interest | — | (745) | — |
| Net cash flows (used for) provided by financing activities | (1,144) | (2,035) | 1,590 |
| Effect of exchange rate changes on Cash and cash equivalents | 21 | 1 | (32) |
| Net (decrease) increase in Cash and cash equivalents | (474) | (634) | 72 |
| Cash and cash equivalents at beginning of year | 3,395 | 4,029 | 3,957 |
| Cash and cash equivalents at end of year | $2,921 | $3,395 | $4,029 |
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