The Estee Lauder Companies Inc. 2009 Annual Report
FINANCIAL OVERVIEW

NET SALES*†
(Dollars in billions)

OPERATING INCOME*†
(Dollars in millions)

NET EARNINGS FROM
CONTINUING OPERATIONS*†
(Dollars in millions)

DILUTED NET EARNINGS PER SHARE
FROM CONTINUING OPERATIONS*†
 

OPERATING WORKING CAPITAL
Accounts receivable plus
inventory less accounts payable
(As % of net sales)
 

FREE CASH FLOW†
Net cash flow from continuing
operations less capital expenditures
(Dollars in millions)
Compound Annual Growth Rate 13.6%

GLOBAL NET SALES

NET SALES BY DISTRIBUTION CHANNEL

HISTORICAL NET SALES GROWTH

* Refer to Selected Financial Data and related footnotes on page 91.

† In April 2006, we completed the sale of certain assets and operations of the reporting unit that marketed and sold Stila brand products. As a result, statements of earnings information for all periods presented has been restated to reflect the Stila reporting unit as discontinued operations.