The Estée Lauder Companies Inc.

NYSE-EL

Operating Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Net Income	-930	-1,133	-873	-697	217	409
Net Earnings
Depreciation & Amortization	821	829	830	832	830	825
Depreciation and Amortization
Stock Based Compensation	318	304	304	316	319	325
Non-Cash Stock-Based Compensation
Other Adjustments	-328.5	923	-447.5	-489	-301	170
Deferred Income Taxes
Excess Tax Benefits from Stock-Based Compensation Arrangements
Net Income on Disposal of Property, Plant and Equipment
Non-Cash Restructuring and Other Charges
Pension and Post-Retirement Benefit Expense
Pension and Post-Retirement Benefit Contributions
Impairment of Goodwill and Other Intangible Assets
Changes in Fair Value of Contingent Consideration
Gain on Liquidation of an Investment in a Foreign Subsidiary, Net
Gain on Previously Held Equity Method Investment
Other Non-Cash Items
Changes in Trade Receivables	91	230	42	73	-27	-285
Change in Accounts Receivable, Net
Changes in Inventories	200	184	328	493	694	766
Change in Inventory and Promotional Merchandise
Changes in Accounts Payable	154	21	21	-85	-120	-38
Change in Accounts Payable
Changes in Other Operating Activities	-38.5	-86	-10.5	4.5	7	188
Change in Other Assets, Net
Change in Other Accrued and Noncurrent Liabilities
Change in Operating Lease Assets and Liabilities, Net
Cash from Operating Activities	1,602	1,272	1,560	1,810	2,098	2,360

Investing Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Capital Expenditure	-557	-602	-612	-665	-765	-919
Capital Expenditures
Proceeds from Sale of Property, Plant & Equipment	—	3	—	—	—	—
Proceeds from Sale of Property, Plant and Equipment
Purchases of Intangible Assets	—	—	—	—	—	—
Purchases of Other Intangible Assets
Purchases of Investments	—	-1	—	-15.5	-19	-18
Purchases of Investments
Proceeds from Sale of Investments	—	—	—	—	—	—
Proceeds from the Disposition of Investments
Payments for Business Acquisitions	—	—	—	—	—	—
Payments for Acquired Businesses, Net of Cash Acquired
Other Investing Activities	-28	-23	-13	-17	-41	-23
Proceeds from Purchase Price Refund
Settlement of Net Investment Hedges
Cash from Investing Activities	-579	-623	-633	-697	-825	-960
Net Cash Flows Provided by Investing Activities

Financing Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Issuance of Short-Term Debt	—	—	—	—	—	-215
Proceeds of Current Debt, Net
Proceeds from Issuance of Commercial Paper (Maturities After Three Months)
Repayments of Short-Term Debt	—	—	—	—	—	-785
Repayments of Commercial Paper (Maturities After Three Months)
Net Issuance / (Repayments) of Short-Term Debt	—	—	—	—	—	-1,000
Issuance of Long-Term Debt	—	—	—	—	—	648
Proceeds from Issuance of Long-Term Debt, Net
Repayments of Long-Term Debt	-505	-505	-506	-507	-8	-10
Repayments of Long-Term Debt
Net Issuance / (Repayments) of Long-Term Debt	-505	-505	-506	-507	-8	638
Issuance of Common Shares	—	15	—	43.5	40	40
Net Proceeds from Stock-Based Compensation Transactions
Repurchases of Common Shares	—	-35	—	-37	-42	-35
Payments to Acquire Treasury Stock
Net Issuance / (Repurchases) of Common Shares	—	-20	—	6.5	-2	5
Common Share Dividends Paid	-505	-618	-729	-839	-951	-947
Dividends Paid to Stockholders
Other Financing Activities	29	-1	29.5	28.5	28	-731
Debt Issuance Costs
Settlement of Cross-Currency Swaps
Excess Tax Benefits from Stock-Based Compensation Arrangements
Payments to Noncontrolling Interest Holders for Dividends
Payments of Contingent Consideration
Payment for Acquisition of Noncontrolling Interest
Payment for Acquisition of Redeemable Noncontrolling Interest
Cash from Financing Activities	-1,157	-1,144	-1,992	-2,424	-2,042	-2,035
Net Cash Flows Provided by Financing Activities