2 unchanged sentences
Our Class A Common Stock is publicly traded on the New York Stock Exchange under the symbol “EL.”
−Removed: As part of the cost saving actions and cash conservation measures taken in response to the COVID-19 pandemic, we did not declare quarterly cash dividends that would have been paid in June 2020.
On August 18, 2021, a dividend was declared in the amount of $.53 per share on our Class A and Class B Common Stock.
4 unchanged sentences
We are authorized by the Board of Directors to repurchase shares of our Class A Common Stock in the open market or in privately negotiated transactions, depending on market conditions and other factors.
+Added: Beginning in early February 2020, we temporarily suspended our repurchase of shares of our Class A Common Stock, and in March 2021, we resumed such repurchases under our share repurchase program.
The following table provides information relating to our repurchase of Class A Common Stock during the referenced periods:
−Removed: Period Total Number of
−Removed: Purchased (1)
−Removed: Average Price
−Removed: Paid Per Share Total Number of
−Removed: Shares Purchased as
−Removed: Part of Publicly
−Removed: Announced Program Maximum Number
−Removed: of Shares that May
−Removed: Yet Be Purchased
+Added: Period Total Number of Shares Purchased (1)
+Added: Average Price Paid Per Share Total Number of Shares Purchased as Part of
+Added: Publicly Announced Program Maximum Number of Shares that May Yet Be Purchased
+Added: Under the Program (2)
April 2021 238,306 $ 301.17 238,306 33,765,535
2 unchanged sentences
1,384,563 301.09 1,300,302
−Removed: (1) Relates to shares that were repurchased by the Company to satisfy tax withholding obligations upon the payout of certain stock-based compensation arrangements.
+Added: (1) Includes shares that were repurchased by the Company to satisfy tax withholding obligations upon the payout of certain stock-based compensation arrangements.
(2) The Board of Directors has authorized the current repurchase program for up to 80.0 million shares.
1 unchanged sentence
Our repurchase program does not have an expiration date.
−Removed: Beginning in early February 2020, we temporarily suspended our repurchase of shares of the Company's Class A Common Stock.
−Removed: We may resume repurchases in the future.
+Added: Subsequent to June 30, 2021 and as of August 20, 2021, we purchased approximately 0.8 million additional shares of our Class A Common Stock for $244 million pursuant to our share repurchase program.
Performance Graph
2 unchanged sentences
Selected Financial Data.
−Removed: The table below summarizes selected financial information.
−Removed: For further information, refer to the audited consolidated financial statements and the notes thereto beginning on page F-1 of this report.
−Removed: Year Ended or at June 30
−Removed: (In millions, except per share data) 2020 2019 2018 2017 2016
−Removed: Statement of Earnings Data:
−Removed: Net sales (1)
−Removed: $ 14,294 $ 14,863 $ 13,683 $ 11,824 $ 11,262
−Removed: Net earnings attributable to The Estée Lauder Companies Inc.
−Removed: 684 1,785 1,108 1,249 1,115
−Removed: Per Share Data:
−Removed: Net earnings attributable to The Estée Lauder Companies Inc.
−Removed: per common share:
−Removed: Basic (1) - (7)
−Removed: $ 1.90 $ 4.91 $ 3.01 $ 3.40 $ 3.01
−Removed: Diluted (1) - (7)
−Removed: 1.86 4.82 2.95 3.35 2.96
−Removed: Cash dividends declared per common share (8)
−Removed: 1.39 1.67 1.48 1.32 1.14
−Removed: Balance Sheet Data:
−Removed: Total assets (3) (7)
−Removed: $ 17,781 $ 13,156 $ 12,567 $ 11,568 $ 9,223
−Removed: Total debt (2)
−Removed: 6,136 3,412 3,544 3,572 2,242
−Removed: (1) Results included charges associated with restructuring and other activities of $68 million, $190 million, $193 million, $143 million and $90 million, after tax, or $.19, $.51, $.51, $.38, and $.24 per diluted common share in fiscal 2020, 2019, 2018, 2017 and 2016, respectively.
−Removed: (2) In November 2019, we issued $500 million of 2.00% Senior Notes, $650 million of 2.375% Senior Notes and $650 million of 3.125% Senior Notes in a public offering.
−Removed: These Senior Notes are due in December 2024, 2029 and 2049, respectively.
−Removed: In April 2020, we issued $700 million of 2.60% Senior Notes, due in April 2030 in a public offering.
−Removed: In February 2017, we issued 1.80%, 3.15% and 4.15% Senior Notes in a public offering, each with an aggregate principal amount of $500 million.
−Removed: The 1.80% Senior Notes were repaid in February 2020.
−Removed: The 3.15% and 4.15% Senior Notes become due in March 2027 and March 2047, respectively.
−Removed: In May 2016, we issued $450 million of 1.70% Senior Notes due May 10, 2021 and an additional $150 million of our 4.375% Senior Notes due June 15, 2045 in a public offering.
−Removed: (3) Fiscal 2020 results included $1,215 million, after tax, or $3.31 per diluted common share related to goodwill, other intangible and long-lived asset impairments.
−Removed: Fiscal 2019 and 2017 results included $85 million and $23 million, after tax, or $.23 and $.06 per diluted common share related to goodwill and other intangible asset impairments, respectively.
−Removed: (4) Results included gains (losses) associated with changes in fair value of contingent consideration related to certain of our acquisitions of $16 million, $31 million, $33 million, $44 million, $(8) million and $(6) million, after tax, or $.04, $.08, $.09, $.12, $(.02) and $(.02) per diluted common share in fiscal 2019, 2018, 2017, 2016 and 2015, respectively.
−Removed: (5) On December 22, 2017, the U.S.
−Removed: government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (the “TCJA”), which, among other things, lowered the U.S.
−Removed: corporate statutory income tax rate and established a modified territorial system requiring a mandatory deemed repatriation tax on undistributed earnings of foreign subsidiaries (the “Transition Tax”).
−Removed: Financial Statements and Supplementary Data – Note 9 – Income Taxes for further discussion relating to the TCJA.
−Removed: Fiscal 2019 results reflected credits (charges) to adjust the TCJA provisional amounts recorded in fiscal 2018 relating to the Transition Tax, the remeasurement of U.S.
−Removed: net deferred tax assets and the foreign withholding taxes recorded in connection with the reversal of its indefinite reinvestment assertion related to certain foreign earnings of $12 million, or $.03 per diluted common share, $(8) million, or $(.02) per diluted common share and $(9) million, or $(.02) per diluted common share, respectively.
−Removed: Fiscal 2018 results reflected impacts and charges resulting from the TCJA, including the Transition Tax, the remeasurement of U.S.
−Removed: net deferred tax assets and the establishment of a net deferred tax liability related to foreign withholding taxes on certain foreign earnings of $(351) million, or $(.94) per diluted common share, $(53) million, or $(.14) per diluted common share and $(46) million, or $(.12) per diluted common share, respectively.
−Removed: (6) Fiscal 2020 results included $441 million, after tax, or $1.20 per diluted common share, of Other income, net primarily related to a gain on a previously held equity method investment.
−Removed: (7) Fiscal 2019 results included $57 million, after tax, or $.15 per diluted common share, related to a gain on liquidation of an investment in a foreign subsidiary, net.
−Removed: (8) As part of the cost saving actions and cash conservation measures taken in response to the COVID-19 pandemic, we did not declare quarterly cash dividends that would have been paid in June 2020.
+Added: Not required.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.