Balance Sheet: Assets
Quarterly Data
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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Estée Lauder Cos. Inc., consolidated balance sheet: assets (quarterly data)
US$ in millions
Based on: 10-K (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-K (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-K (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-K (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-K (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-K (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30).
The financial data reveals several notable trends across the periods analyzed.
- Cash and Cash Equivalents
- There is a general upward trend in cash and cash equivalents from 2017 through early 2020, peaking at $5,876 million in March 2020 and $5,545 million in December 2020. Afterward, the figures fluctuate, with a significant drop to $2,938 million in September 2022 followed by a recovery to $5,531 million in March 2023, before declining again to $4,029 million in June 2023.
- Short-term Investments
- Values for short-term investments are only available up to December 2018, showing a modest increase from $381 million to $550 million over that timeframe. Data is unavailable beyond that point.
- Accounts Receivable, Net
- Accounts receivable fluctuates considerably. It starts around $1,799 million in September 2017, peaks intermittently at $2,294 million in September 2019, then declines sharply to $1,194 million by June 2020, likely reflecting the impact of external factors such as economic disruption. Then it shows partial recovery and variability through 2023 with levels generally between $1,400 million and $2,200 million.
- Inventory and Promotional Merchandise
- Inventory steadily increases over time, from $1,518 million in September 2017 to $3,097 million in March 2023, indicating growth in stock levels. The consistent rise suggests expansion of inventory holdings or potentially slower inventory turnover.
- Prepaid Expenses and Other Current Assets
- This category shows some variability, rising from $365 million in 2017 to peak around $792 million in June 2022 before easing somewhat towards $679 million in June 2023. The upward trend indicates an increase in prepaid or other current asset accounts over time.
- Current Assets
- Current assets display an increasing trend overall, from $5,507 million in September 2017 to $11,247 million in March 2023, reflecting growth in liquidity and short-term resource availability. The data shows periodic fluctuations but a clear upward trajectory.
- Property, Plant, and Equipment, Net
- Net PPE grows steadily from $1,695 million in September 2017 to $3,179 million in June 2023, suggesting ongoing investments in fixed assets or capital expenditures.
- Operating Lease Right-of-Use Assets
- Reported only starting in September 2019 at $2,516 million, this asset decreases gradually to $1,797 million by June 2023, indicating a reduction of lease obligations or expirations over time.
- Goodwill
- Goodwill values fluctuate, decreasing from around $1,900 million range up to early 2020, dipping as low as $1,369 million in March 2021, and then rising significantly to over $2,400 million in later periods to June 2023. This pattern may reflect acquisition or impairment activities.
- Other Intangible Assets, Net
- After remaining stable around $1,300 million initially, this category sharply increases from 2019 onwards, reaching $5,602 million in June 2023. The jump likely correlates with acquisitions or revaluation of intangible assets.
- Other Assets
- There are two reported lines labeled "Other Assets." The first declines from $1,763 million in September 2017 to about $1,212 million in June 2023. The second starts at $5,000 million in 2017, dips in 2019, then rises to $11,097 million by June 2023, suggesting reclassification or changes in asset categorization and growth in certain long-term assets.
- Noncurrent Assets
- Noncurrent assets mostly decline from about $6,695 million in 2017 to $5,771 million in 2019, then surge to $14,276 million in June 2023. This reflects significant asset accumulation, possibly from acquisitions or capital investments.
- Total Assets
- Total assets grow from $12,202 million in September 2017 to $23,415 million in June 2023. The increase is steady with some periods of sharper growth, indicating overall expansion in asset base.