Noncontrolling interests

[Table of Contents](#i2ba0bd92bcb14d27a1d59d9667569d45_7)  
THE ESTÉE LAUDER COMPANIES INC.CONSOLIDATED BALANCE SHEETS

|  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |
|   | June 30 |
| (In millions, except share data) | 2022 |  | 2021 |
|  |  |  |  |
| ASSETS |   |  |   |
| Current assets |   |  |  |
| Cash and cash equivalents | $ | 3,957  |  |  | $ | 4,958  |  |
| Accounts receivable, net | 1,629  |  |  | 1,702  |  |
| Inventory and promotional merchandise | 2,920  |  |  | 2,505  |  |
| Prepaid expenses and other current assets | 792  |  |  | 603  |  |
| Total current assets | 9,298  |  |  | 9,768  |  |
|  |  |  |  |
| Property, plant and equipment, net | 2,650  |  |  | 2,280  |  |
| Other assets |  |  |  |
| Operating lease right-of-use assets | 1,949  |  |  | 2,190  |  |
| Goodwill | 2,521  |  |  | 2,616  |  |
| Other intangible assets, net | 3,428  |  |  | 4,095  |  |
| Other assets | 1,064  |  |  | 1,022  |  |
| Total other assets | 8,962  |  |  | 9,923  |  |
| Total assets | $ | 20,910  |  |  | $ | 21,971  |  |
|  |  |  |  |
| LIABILITIES AND EQUITY |  |  |  |
| Current liabilities |  |  |  |
| Current debt | $ | 268  |  |  | $ | 32  |  |
| Accounts payable | 1,822  |  |  | 1,692  |  |
| Operating lease liabilities | 365  |  |  | 379  |  |
| Other accrued liabilities | 3,360  |  |  | 3,195  |  |
| Total current liabilities | 5,815  |  |  | 5,298  |  |
|  |  |  |  |
| Noncurrent liabilities |  |  |  |
| Long-term debt | 5,144  |  |  | 5,537  |  |
| Long-term operating lease liabilities | 1,868  |  |  | 2,151  |  |
| Other noncurrent liabilities | 1,651  |  |  | 2,037  |  |
| Total noncurrent liabilities | 8,663  |  |  | 9,725  |  |
|  |  |  |  |
| Commitments and contingencies |  |  |  |
|  |  |  |  |
| Redeemable Noncontrolling Interest | 842  |  |  | 857  |  |
|  |  |  |  |
| Equity |  |  |  |
| Common stock, $.01 par value; Class A shares authorized: 1,300,000,000 at June 30, 2022 and June 30, 2021; shares issued: 467,949,351 at June 30, 2022 and 462,633,034 at June 30, 2021; Class B shares authorized: 304,000,000 at June 30, 2022 and June 30, 2021; shares issued and outstanding: 125,542,029 at June 30, 2022 and 128,242,029 at June 30, 2021 | 6  |  |  | 6  |  |
| Paid-in capital | 5,796  |  |  | 5,335  |  |
| Retained earnings | 13,912  |  |  | 12,244  |  |
| Accumulated other comprehensive loss | (762) |  |  | (470) |  |
|  |  |  |  |
|   | 18,952  |  |  | 17,115  |  |
| Less: Treasury stock, at cost; 236,435,830 Class A shares at June 30, 2022 and 229,115,665 Class A shares at June 30, 2021 | (13,362) |  |  | (11,058) |  |
| Total stockholders’ equity – The Estée Lauder Companies Inc. | 5,590  |  |  | 6,057  |  |
| Noncontrolling interests | —  |  |  | 34  |  |
| Total equity | 5,590  |  |  | 6,091  |  |
| Total liabilities, redeemable noncontrolling interest and equity | $ | 20,910  |  |  | $ | 21,971  |  |

See notes to consolidated financial statements.F-8
