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Press Release: The Estée Lauder Companies Reports -8-

· 02/05/2021 06:45
CONTACT: Investors: Rainey ManciniDecember 31, June 30, December 31, 2020 2020 2019 -------------- ---------------- ($ in millions) (Audited) --------------------------- ---------- ----------- ---------- ASSETS --------------------------- Cash and cash equivalents $ 5,545 $ 5,022 $ 3,596 Accounts receivable, net 1,972 1,194 2,225 Inventory and promotional merchandise 2,116 2,062 2,058 Prepaid expenses and other current assets 658 614 469 --------------------------- -------------- ----------- -------------- Total current assets 10,291 8,892 8,348 --------------------------- -------------- ----------- -------------- Property, plant and equipment, net 2,142 2,055 2,086 Operating lease right-of-use assets 2,325 2,282 2,517 Other assets 4,837 4,552 4,986 --------------------------- -------------- ----------- -------------- Total assets $ 19,595 $ 17,781 $ 17,937 --------------------------- ---------- ------- ---------- LIABILITIES AND EQUITY --------------------------- Current debt $ 470 $ 1,222 $ 522 Accounts payable 1,299 1,177 1,137 Operating lease liabilities 387 375 369 Other accrued liabilities 3,264 2,405 2,925 --------------------------- -------------- ----------- -------------- Total current liabilities 5,420 5,179 4,953 --------------------------- -------------- ----------- -------------- Long-term debt 4,913 4,914 4,662 Long-term operating lease liabilities 2,314 2,278 2,318 Other noncurrent liabilities 1,492 1,448 1,403 --------------------------- -------------- ----------- -------------- Total noncurrent liabilities 8,719 8,640 8,383 --------------------------- -------------- ----------- -------------- Total equity 5,456 3,962 4,601 --------------------------- -------------- ----------- -------------- Total liabilities and equity $ 19,595 $ 17,781 $ 17,937 --------------------------- ---------- ------- ---------- SELECT CASH FLOW DATA (Unaudited) Six Months Ended December 31 ---------------------- ($ in millions) 2020 2019 -------------------------------------------------- ----------- --------- Net earnings $ 1,402 $1,159 Adjustments to reconcile net earnings to net cash flows from operating activities: Depreciation and amortization 316 287 Deferred income taxes (49) 7 Other items 266 359 Changes in operating assets and liabilities: Increase in accounts receivable, net (720) (347) Increase in inventory and promotional merchandise 67 31 Increase in other assets, net (110) (120) Increase (decrease) in accounts payable and other liabilities, net 806 (121) -------------------------------------------------- ---------- ------ Net cash flows provided by operating activities $ 1,978 $1,255 -------------------------------------------------- ------ ----- Other Investing and Financing Sources (Uses): Capital expenditures $ (250) $ (291) Payments for acquired businesses, net of cash acquired (6) (1,040) Purchases of investments (40) (5) Payments to acquire treasury stock (102) (813) Dividends paid (368) (330) Proceeds (repayments) of current debt, net (747) 8 Proceeds (repayments) from issuance of long-term debt, net (4) 1,775 ---------- ------

View source version on businesswire.com: https://www.businesswire.com/news/home/20210205005049/en/

rmancini@estee.com

Media: Jill Marvin

jimarvin@estee.com

(END) Dow Jones Newswires

February 05, 2021 06:45 ET (11:45 GMT)