Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Estée Lauder Cos. Inc., consolidated income statement

US$ in millions

12 months ended:	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021	Jun 30, 2020	Jun 30, 2019	Jun 30, 2018
Net sales	15,910)	17,737)	16,215)	14,294)	14,863)	13,683)
Cost of sales	(4,564)	(4,305)	(3,834)	(3,552)	(3,387)	(2,844)
Gross profit	11,346)	13,432)	12,381)	10,742)	11,476)	10,839)
Selling, general and administrative	(9,575)	(9,888)	(9,371)	(8,637)	(8,857)	(8,556)
Restructuring and other charges	(55)	(133)	(204)	(73)	(216)	(231)
Goodwill impairment	—)	—)	(54)	(812)	(68)	—)
Impairments of other intangible and long-lived assets	(207)	(241)	(134)	(614)	(22)	—)
Operating expenses	(9,837)	(10,262)	(9,763)	(10,136)	(9,163)	(8,787)
Operating income	1,509)	3,170)	2,618)	606)	2,313)	2,052)
Interest expense	(255)	(167)	(173)	(161)	(133)	(128)
Interest income and investment income, net	131)	30)	51)	48)	58)	56)
Other components of net periodic benefit cost	12)	2)	(12)	(4)	(2)	—)
Other income, net	—)	1)	847)	557)	71)	—)
Earnings before income taxes	1,397)	3,036)	3,331)	1,046)	2,307)	1,980)
Provision for income taxes	(387)	(628)	(456)	(350)	(513)	(863)
Net earnings	1,010)	2,408)	2,875)	696)	1,794)	1,117)
Net earnings attributable to noncontrolling interests and redeemable noncontrolling interest	(4)	(18)	(5)	(12)	(9)	(9)
Net earnings attributable to The Estée Lauder Companies Inc.	1,006)	2,390)	2,870)	684)	1,785)	1,108)

Based on: 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30).

Download chart

Income statement item	Description	The company
Net sales	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Estée Lauder Cos. Inc. net sales increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	Estée Lauder Cos. Inc. operating income increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Earnings before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Estée Lauder Cos. Inc. earnings before income taxes decreased from 2021 to 2022 and from 2022 to 2023.
Net earnings attributable to The Estée Lauder Companies Inc.	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Estée Lauder Cos. Inc. net earnings attributable to The Estée Lauder Companies Inc. decreased from 2021 to 2022 and from 2022 to 2023.

Estée Lauder Cos. Inc. (NYSE:EL)

Income Statement