<SEC-DOCUMENT>0001104659-20-011697.txt : 20200206
<SEC-HEADER>0001104659-20-011697.hdr.sgml : 20200206
<ACCEPTANCE-DATETIME>20200206105215
ACCESSION NUMBER:		0001104659-20-011697
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		15
CONFORMED PERIOD OF REPORT:	20200205
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200206
DATE AS OF CHANGE:		20200206

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ESTEE LAUDER COMPANIES INC
		CENTRAL INDEX KEY:			0001001250
		STANDARD INDUSTRIAL CLASSIFICATION:	PERFUMES, COSMETICS & OTHER TOILET PREPARATIONS [2844]
		IRS NUMBER:				112408943
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14064
		FILM NUMBER:		20581684

	BUSINESS ADDRESS:	
		STREET 1:		767 FIFTH AVE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10153
		BUSINESS PHONE:		2125724200

	MAIL ADDRESS:	
		STREET 1:		767 FIFTH AVE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10153
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>tm206175-1_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<XBRL>
<?xml version="1.0" encoding="utf-8"?>
<html xmlns="http://www.w3.org/1999/xhtml" xmlns:xs="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:ix="http://www.xbrl.org/2013/inlineXBRL" xmlns:ixt="http://www.xbrl.org/inlineXBRL/transformation/2015-02-26" xmlns:ixt-sec="http://www.sec.gov/inlineXBRL/transformation/2015-08-31" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:dei="http://xbrl.sec.gov/dei/2019-01-31" xmlns:ref="http://www.xbrl.org/2006/ref" xmlns:us-gaap="http://fasb.org/us-gaap/2019-01-31" xmlns:us-roles="http://fasb.org/us-roles/2019-01-31" xmlns:country="http://xbrl.sec.gov/country/2017-01-31" xmlns:srt="http://fasb.org/srt/2019-01-31" xmlns:el="http://elcompanies.com/20200205">
<head>
     <title></title>
<meta http-equiv="Content-Type" content="text/html" /></head>
<!-- Field: Set; Name: xdx; ID: xdx_021_US%2DGAAP%2D2019 -->
<!-- Field: Set; Name: xdx; ID: xdx_036_el_elcompanies.com_20200205 -->
<!-- Field: Set; Name: xdx; ID: xdx_048_20200204_20200205 -->
<!-- Field: Set; Name: xdx; ID: xdx_053_edei%2D%2DEntityCentralIndexKey_0001001250 -->
<!-- Field: Set; Name: xdx; ID: xdx_059_edei%2D%2DAmendmentFlag_false -->
<!-- Field: Set; Name: xdx; ID: xdx_06B_USD_1_iso4217%2D%2DUSD -->
<!-- Field: Set; Name: xdx; ID: xdx_062_Shares_2_xbrli%2D%2Dshares -->
<!-- Field: Set; Name: xdx; ID: xdx_06D_USDPShares_3_iso4217%2D%2DUSD_xbrli%2D%2Dshares -->
<body style="font: 10pt Times New Roman, Times, Serif">
<div style="display: none">
<ix:header>
  <ix:hidden>
    <ix:nonNumeric contextRef="From2020-02-04to2020-02-05" name="dei:EntityCentralIndexKey">0001001250</ix:nonNumeric>
    <ix:nonNumeric contextRef="From2020-02-04to2020-02-05" format="ixt:booleanfalse" name="dei:AmendmentFlag">false</ix:nonNumeric>
    <ix:nonNumeric contextRef="From2020-02-04to2020-02-05" id="xdx2ixbrl0011" name="dei:EntityRegistrantName">ESTEE LAUDER COMPANIES INC</ix:nonNumeric>
    </ix:hidden>
  <ix:references>
    <link:schemaRef xlink:href="el-20200205.xsd" xlink:type="simple" />
    </ix:references>
  <ix:resources>
    <xbrli:context id="From2020-02-04to2020-02-05">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001001250</xbrli:identifier>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2020-02-04</xbrli:startDate>
        <xbrli:endDate>2020-02-05</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:unit id="USD">
      <xbrli:measure>iso4217:USD</xbrli:measure>
    </xbrli:unit>
    <xbrli:unit id="Shares">
      <xbrli:measure>xbrli:shares</xbrli:measure>
    </xbrli:unit>
    <xbrli:unit id="USDPShares">
      <xbrli:divide>
        <xbrli:unitNumerator>
          <xbrli:measure>iso4217:USD</xbrli:measure>
        </xbrli:unitNumerator>
        <xbrli:unitDenominator>
          <xbrli:measure>xbrli:shares</xbrli:measure>
        </xbrli:unitDenominator>
      </xbrli:divide>
    </xbrli:unit>
    </ix:resources>
  </ix:header>
</div>


<p style="margin: 0"></p>

<p style="font-family: Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p>

<!-- Field: Rule-Page --><div style="margin-top: 12pt; margin-bottom: 3pt; width: 100%"><div style="border-top: Black 2pt solid; border-bottom: Black 1pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page -->

<p style="margin-top: 0pt; margin-bottom: 0pt"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>UNITED STATES</b></p>

<p style="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>SECURITIES AND EXCHANGE COMMISSION</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Washington, D.C. 20549</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="margin: 0pt 0; text-align: center"></p>

<!-- Field: Rule-Page --><div style="margin: 0pt auto; width: 25%"><div style="border-top: Black 1pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page -->



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>FORM&#160;<span id="xdx_908_edei--DocumentType_c20200204__20200205_zmuoWPWcMaM5"><ix:nonNumeric contextRef="From2020-02-04to2020-02-05" name="dei:DocumentType">8-K</ix:nonNumeric></span></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>CURRENT REPORT</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Pursuant to Section&#160;13 OR
15(d)&#160;of The Securities Exchange Act of 1934</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported)</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b><span id="xdx_90C_edei--DocumentPeriodEndDate_c20200204__20200205_zzTpwTdbLRe1"><ix:nonNumeric contextRef="From2020-02-04to2020-02-05" format="ixt:datemonthdayyearen" name="dei:DocumentPeriodEndDate">February 5, 2020</ix:nonNumeric></span></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b><span id="xdx_90D_edei--EntityRegistrantName_dxL_c20200204__20200205_zXLIO6pa1Nwh" title="::XDX::ESTEE%20LAUDER%20COMPANIES%20INC"><span style="-sec-ix-hidden: xdx2ixbrl0011">The Est&#233;e Lauder Companies Inc.</span></span></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
its charter)</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table border="0" cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr>
    <td style="vertical-align: top; width: 34%; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b><span id="xdx_909_edei--EntityIncorporationStateCountryCode_c20200204__20200205_zEVfZq8QHkCk"><ix:nonNumeric contextRef="From2020-02-04to2020-02-05" format="ixt-sec:stateprovnameen" name="dei:EntityIncorporationStateCountryCode">Delaware</ix:nonNumeric></span></b></span></td>
    <td style="vertical-align: bottom; width: 1%">&#160;</td>
    <td style="vertical-align: top; width: 32%; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b><span id="xdx_90B_edei--EntityFileNumber_c20200204__20200205_zN56tuX5umga"><ix:nonNumeric contextRef="From2020-02-04to2020-02-05" name="dei:EntityFileNumber">1-14064</ix:nonNumeric></span></b></span></td>
    <td style="vertical-align: bottom; width: 1%">&#160;</td>
    <td style="vertical-align: top; width: 32%; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b><span id="xdx_904_edei--EntityTaxIdentificationNumber_c20200204__20200205_znpopKKbFOOa"><ix:nonNumeric contextRef="From2020-02-04to2020-02-05" name="dei:EntityTaxIdentificationNumber">11-2408943</ix:nonNumeric></span></b></span></td></tr>
<tr>
    <td style="vertical-align: top; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">(State or other jurisdiction of <br /> incorporation)</span></td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: top; text-align: center"><p style="margin-top: 0; margin-bottom: 0"><span style="font: 10pt Times New Roman, Times, Serif">(Commission File</span></p>
                                                        <p style="margin-top: 0; margin-bottom: 0"><span style="font: 10pt Times New Roman, Times, Serif">Number)</span></p></td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: top; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">(IRS Employer Identification No.)</span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="margin-top: 0pt; margin-bottom: 0pt">&#160;</p>

<table border="0" cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr>
    <td style="vertical-align: top; width: 50%; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b><span id="xdx_90C_edei--EntityAddressAddressLine1_c20200204__20200205_z5cmbHXjm0C5"><ix:nonNumeric contextRef="From2020-02-04to2020-02-05" name="dei:EntityAddressAddressLine1">767 Fifth Avenue</ix:nonNumeric></span>, <span id="xdx_907_edei--EntityAddressCityOrTown_c20200204__20200205_zaWq9xGjhvua"><ix:nonNumeric contextRef="From2020-02-04to2020-02-05" name="dei:EntityAddressCityOrTown">New York</ix:nonNumeric></span>, <span id="xdx_90A_edei--EntityAddressStateOrProvince_c20200204__20200205_zSqmEp4WuS28"><ix:nonNumeric contextRef="From2020-02-04to2020-02-05" format="ixt-sec:stateprovnameen" name="dei:EntityAddressStateOrProvince">New York</ix:nonNumeric></span></b></span></td>
    <td style="vertical-align: bottom; width: 1%">&#160;</td>
    <td style="vertical-align: top; width: 49%; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b><span id="xdx_903_edei--EntityAddressPostalZipCode_c20200204__20200205_z8Tlo97jZB9g"><ix:nonNumeric contextRef="From2020-02-04to2020-02-05" name="dei:EntityAddressPostalZipCode">10153</ix:nonNumeric></span></b></span></td></tr>
<tr>
    <td style="vertical-align: top; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">(Address of principal executive offices)</span></td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: top; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">(Zip Code)</span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Registrant&#8217;s telephone number, including
area code</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b><span id="xdx_90A_edei--CityAreaCode_c20200204__20200205_zTTrRSixABjb"><ix:nonNumeric contextRef="From2020-02-04to2020-02-05" name="dei:CityAreaCode">212</ix:nonNumeric></span>-<span id="xdx_900_edei--LocalPhoneNumber_c20200204__20200205_z5SAWFIrDLw"><ix:nonNumeric contextRef="From2020-02-04to2020-02-05" name="dei:LocalPhoneNumber">572-4200</ix:nonNumeric></span></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Not Applicable</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Former name or former address, if changed
since last report)</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form&#160;8-K filing
is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General
Instruction A.2. below):</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="margin: 0pt 0; font-size: 10pt"><span id="xdx_90B_edei--WrittenCommunications_c20200204__20200205_zZVaOQU7A2S7" style="font-family: Wingdings"><ix:nonNumeric contextRef="From2020-02-04to2020-02-05" format="ixt:booleanfalse" name="dei:WrittenCommunications">&#168;</ix:nonNumeric>
</span><span style="font: 10pt Times New Roman, Times, Serif">Written communications pursuant to Rule&#160;425
under the Securities Act (17 CFR 230.425)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="margin: 0pt 0; font-size: 10pt"><span id="xdx_90E_edei--SolicitingMaterial_c20200204__20200205_zbpehebhuPwc" style="font-family: Wingdings"><ix:nonNumeric contextRef="From2020-02-04to2020-02-05" format="ixt:booleanfalse" name="dei:SolicitingMaterial">&#168;</ix:nonNumeric>
</span><span style="font: 10pt Times New Roman, Times, Serif">Soliciting material pursuant to Rule&#160;14a-12
under the Exchange Act (17 CFR 240.14a-12)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="margin: 0pt 0; font-size: 10pt"><span id="xdx_905_edei--PreCommencementTenderOffer_c20200204__20200205_znJcNMgLGQ5d" style="font-family: Wingdings"><ix:nonNumeric contextRef="From2020-02-04to2020-02-05" format="ixt:booleanfalse" name="dei:PreCommencementTenderOffer">&#168;</ix:nonNumeric>
</span><span style="font: 10pt Times New Roman, Times, Serif">Pre-commencement communications pursuant to Rule&#160;14d-2(b)&#160;under
the Exchange Act (17 CFR 240.14d-2(b))</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="margin: 0pt 0; font-size: 10pt"><span id="xdx_90D_edei--PreCommencementIssuerTenderOffer_c20200204__20200205_zmEe0rzhgkrh" style="font-family: Wingdings"><ix:nonNumeric contextRef="From2020-02-04to2020-02-05" format="ixt:booleanfalse" name="dei:PreCommencementIssuerTenderOffer">&#168;</ix:nonNumeric>
</span><span style="font: 10pt Times New Roman, Times, Serif">Pre-commencement communications pursuant to Rule&#160;13e-4(c)&#160;under
the Exchange Act (17 CFR 240.13e-4(c))</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Securities registered pursuant to Section 12(b) of the Act:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 40%; text-align: center">Title of each class</td>
    <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 20%; text-align: center">Trading Symbol(s)</td>
    <td style="border: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 40%; text-align: center">Name of each exchange on which registered</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span id="xdx_902_edei--Security12bTitle_c20200204__20200205_z5xA0d7lAR2k"><ix:nonNumeric contextRef="From2020-02-04to2020-02-05" name="dei:Security12bTitle">Class A Common Stock, $.01 par value</ix:nonNumeric></span></td>
    <td style="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span id="xdx_900_edei--TradingSymbol_c20200204__20200205_z5i0cDJ0bNI9"><ix:nonNumeric contextRef="From2020-02-04to2020-02-05" name="dei:TradingSymbol">EL</ix:nonNumeric></span></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span id="xdx_904_edei--SecurityExchangeName_c20200204__20200205_zmwFXtyt6MXb"><ix:nonNumeric contextRef="From2020-02-04to2020-02-05" format="ixt-sec:exchnameen" name="dei:SecurityExchangeName">New York Stock Exchange</ix:nonNumeric></span></td></tr>
</table>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule&#160;405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule&#160;12b-2 of
the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="margin: 0pt 0; font-size: 10pt"><span style="font: 10pt Times New Roman, Times, Serif">Emerging growth
company&#160; </span><span style="font-family: Wingdings"><span id="xdx_901_edei--EntityEmergingGrowthCompany_c20200204__20200205_z6cPDaDBJe4g"><ix:nonNumeric contextRef="From2020-02-04to2020-02-05" format="ixt:booleanfalse" name="dei:EntityEmergingGrowthCompany">&#168;</ix:nonNumeric></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="margin: 0pt 0; font-size: 10pt"><span style="font: 10pt Times New Roman, Times, Serif">If an emerging
growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with
any new or revised financial accounting standards provided pursuant to Section&#160;13(a)&#160;of the Exchange Act. </span><span style="font-family: Wingdings">&#168;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Rule-Page --><div style="margin-top: 3pt; margin-bottom: 12pt; width: 100%"><div style="border-top: Black 1pt solid; border-bottom: Black 2pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 1 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 12pt; margin-bottom: 6pt"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&#160;</p></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Item 2.02 Results of Operations and Financial Condition</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On February 6, 2020, The Est&#233;e Lauder Companies Inc.
(the &#8220;Company&#8221;) issued a press release announcing its financial results for the fiscal quarter ended December 31,
2019.&#160; The release includes the Company&#8217;s estimates related to its fiscal 2020 second half and full year net sales
and diluted net earnings per common share. A copy of the press release is attached hereto as Exhibit&#160;99.1 and is
incorporated herein by reference.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Item 8.01 Other Events</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20.25pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On February 5, 2020, the Company declared a quarterly dividend
in the amount of $.48 per share on the Company&#8217;s Class A and Class B Common Stock. The dividend is payable in cash on March
16, 2020 to stockholders of record at the close of business on February 28, 2020.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20.25pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Item 9.01 Financial Statements and Exhibits</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d) Exhibits</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>&#160;</b></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom; background-color: White">
    <td style="border-bottom: Black 1pt solid; width: 7%; font-weight: bold; text-align: left">Exhibit No.</td>
    <td style="font-weight: bold; padding-bottom: 1pt; width: 1%; text-align: left">&#160;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; width: 92%; text-align: center">Description</td></tr>
<tr style="vertical-align: top">
    <td><a href="tm206175d1_ex99-1.htm">99.1</a></td>
    <td>&#160;</td>
    <td><a href="tm206175d1_ex99-1.htm">Press Release, dated February 6, 2020, of The Est&#233;e Lauder Companies Inc.</a></td></tr>
<tr style="vertical-align: top">
    <td>&#160;</td>
    <td>&#160;</td>
    <td>&#160;</td></tr>
<tr style="vertical-align: top">
    <td>104</td>
    <td>&#160;</td>
    <td>Cover Page Interactive Data File (embedded within the Inline XBRL document).</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>&#160;</b></p>

<!-- Field: Page; Sequence: 1; Options: NewSection; Value: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 12pt; margin-bottom: 6pt"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></span></p></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page --><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>SIGNATURES</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="white-space: nowrap; width: 50%; text-align: justify">&#160;</td>
    <td style="white-space: nowrap; width: 50%; text-align: justify"><span style="font-size: 10pt"><b>THE EST&#201;E LAUDER COMPANIES INC.</b></span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="white-space: nowrap; width: 5%; text-align: justify"><span style="font-size: 10pt">Date:</span></td>
    <td style="white-space: nowrap; width: 45%; text-align: justify"><span style="font-size: 10pt">February 6, 2020</span></td>
    <td style="white-space: nowrap; width: 2%; text-align: justify"><span style="font-size: 10pt">By: </span></td>
    <td style="border-bottom: black 1pt solid; white-space: nowrap; width: 48%"><span style="font-size: 10pt">&#160;/s/ Tracey T. Travis</span></td></tr>
<tr style="vertical-align: top">
    <td style="white-space: nowrap; text-align: justify">&#160;</td>
    <td style="white-space: nowrap; text-align: justify">&#160;</td>
    <td style="white-space: nowrap; text-align: justify">&#160;</td>
    <td style="padding-bottom: 1pt; white-space: nowrap">Tracey T. Travis</td></tr>
<tr style="vertical-align: top">
    <td style="white-space: nowrap; text-align: justify">&#160;</td>
    <td style="white-space: nowrap; text-align: justify">&#160;</td>
    <td style="white-space: nowrap; text-align: justify">&#160;</td>
    <td style="padding-bottom: 1pt; white-space: nowrap">Executive Vice President and Chief Financial Officer</td></tr>
<tr style="vertical-align: top">
    <td style="white-space: nowrap; text-align: justify">&#160;</td>
    <td style="white-space: nowrap; text-align: justify">&#160;</td>
    <td style="white-space: nowrap; text-align: justify">&#160;</td>
    <td style="padding-bottom: 1pt; white-space: nowrap">(Principal Financial and Accounting Officer)</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 243.35pt">&#160;</p>

<p style="margin: 0pt 0">&#160;</p>

<!-- Field: Page; Sequence: 2; Options: Last -->
    <div style="border-bottom: Black 1pt solid; margin-top: 12pt; margin-bottom: 6pt"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></span></p></div>
    <!-- Field: /Page --><p style="margin: 0pt 0">&#160;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>








</body>
</html>
<!-- Field: Set; Name: xdx; ID: xdx_08B_extensions -->
<!-- eJxFjVEKwkAMRE/QO4T9FrtVi9hPi4pYRYqIv6uNsthuSnZb9Uje0rVFDIEQZt6MEAOxoqUukeE0zzM4YFWXyiHkeEVGc0HvSNebBPzN8aatY2Vc9/7AlDyDnomH8nzxQmdttcUiATkNxzKMZhDJZBLDfiuCr56SueoCjdOqBGUK2DPVrNEpfvUJB/UkQ9WrqzoiW00mgWgoe/kNIxmNYEetehDfLWRZKoJBN4FYMTX1t6axjipYlFj5Ltuj/w0+O4VJfg== -->
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>tm206175d1_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: right; color: #002453"><B>Exhibit
99.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.7in 0pt 0; text-align: right; color: red">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 32%">
        <IMG SRC="tm206175d1_ex99-1img001.jpg" ALT=""><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">767 Fifth Avenue</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, NY 10153</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P></TD>
    <TD STYLE="width: 68%">
        <P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #002453"><B>News </B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #3D8EDE">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Contact:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT><B>Investors:</B></FONT><B>
        Rainey Mancini</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">(212) 284-3049</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #3D8EDE"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT><B>Media:</B></FONT><B>
        Jill Marvin</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">(212) 572-4438</P></TD></TR>
</TABLE>
<P STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><B>THE EST<FONT STYLE="text-transform: uppercase">&Eacute;</FONT>E
LAUDER COMPANIES DELIVERS EXCEPTIONAL </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><B>FISCAL 2020
SECOND QUARTER RESULTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center; color: #002453"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><B>Net Sales Grew
15%; Diluted EPS Declined 2% Including Charges and Adjustments</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center; color: #002453"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><B>Net Sales Increased
16% and Adjusted Diluted EPS Rose 21% in Constant Currency</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center; color: #002453"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><B>Full Year Net
Sales and EPS Guidance Updated to Reflect Coronavirus Estimate</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0"><B>New York, February 6, 2020 - </B><U>The Est&eacute;e
Lauder Companies Inc.</U> (NYSE: EL) today reported exceptional financial results for its second quarter ended December 31, 2019.
Net sales of $4.62 billion increased 15% from $4.01 billion in the prior-year period. Excluding the impact of currency translation,
net sales increased 16%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0">Net earnings were $557 million, compared with $573
million last year. Diluted net earnings per common share was $1.52, compared with $1.55 reported in the prior-year period. Adjusted
diluted earnings per common share rose 21% to $2.11.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 41.4pt 0pt 0; text-align: left"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 41.4pt 0pt 0; text-align: left"><FONT STYLE="text-decoration: none">Adjusted
diluted earnings per common share excludes restructuring and other charges, changes in contingent consideration, goodwill and
other intangible asset impairments and other income as detailed on page 2.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 41.4pt 0pt 0; text-align: left"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 41.4pt 0pt 0; text-align: justify"><FONT STYLE="text-decoration: none">Fabrizio
Freda, President and Chief Executive Officer said, &ldquo;We delivered superb results in our second quarter, leading to an excellent
first half. Our multiple engines of growth generated broad-based gains across all our regions and major categories, as our
prestige brand portfolio was well received by global consumers during the Singles Day event and holiday season.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 41.4pt 0pt 0; text-align: justify"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 41.4pt 0pt 0; text-align: justify"><FONT STYLE="text-decoration: none">&ldquo;Our
sales growth came from all facets of our business, including the Asia/Pacific region, the skin care and fragrance categories,
the online and travel retail channels, and the Est&eacute;e Lauder, La Mer and luxury fragrance brands. Our emerging markets
continued to be vibrant and we made progress towards the stabilization of our North American business despite continued
softness in the makeup category. Additionally, we completed the acquisition of the Korean-</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 41.4pt 0pt 0; text-align: justify"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 41.4pt 0pt 0; text-align: justify"></P>





<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%"><IMG SRC="tm206175d1_ex99-1img002.jpg" ALT="">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">&nbsp;</TD><TD STYLE="vertical-align: bottom; width: 33%; text-align: right">Page <B><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --> </B>of <B>19</B></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left"><FONT STYLE="text-decoration: none">based Dr. Jart+ brand at the end of
the quarter, which strengthens our position in global skin care.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 41.4pt 0pt 0; text-align: left"><FONT STYLE="text-decoration: none"><FONT STYLE="text-decoration: none">Freda
emphasized, &ldquo;In the wake of the recent coronavirus outbreak, we are first and foremost concerned about the health and safety
of our employees, consumers and everyone affected in China and around the world. Our hearts and support go out to the many people
working hard to mitigate the health risks of the coronavirus. The global situation will also affect our financial results in the
near term, so we are updating our fiscal year outlook. With our results to date and our agility in allocating resources, we will
strive to deliver full-year growth at least in line with our long-term goals, even in this challenging moment. We will be ready
to return to our growth momentum as the global coronavirus outbreak is resolved.&rdquo;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 41.4pt 0pt 0; text-align: left"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Reconciliation between GAAP and Non-GAAP</P>



<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="font-size: 10pt; color: white; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="14" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>Three
    Months Ended December 31, 2019</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: white; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="font-size: 10pt; color: white; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>Three
    Months Ended<BR>
    December 31</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: white; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="6" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt"><B>Net
    Sales</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="6" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt"><B>Diluted
    EPS</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="6" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt"><B>Diluted
    Earnings Per Share</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-style: italic; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt"><B>(Unaudited)</B></FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt"><B>%
    Change</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt"><B>%
    Change, Constant Currency</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt"><B>%
    Change</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt"><B>%
    Change, Constant Currency</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt"><B>2019</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt"><B>2018</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 40%; font-size: 10pt; color: #002453; font-weight: bold; font-style: normal; padding-bottom: 1pt">As Reported Results <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 700; color: #002453"><SUP>(1)</SUP></FONT></TD><TD STYLE="width: 2%; font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">15</TD><TD STYLE="width: 1%; padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">%</TD><TD STYLE="width: 2%; font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">16</TD><TD STYLE="width: 1%; padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">%</TD><TD STYLE="width: 2%; font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">(2</TD><TD STYLE="width: 1%; padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">)%</TD><TD STYLE="width: 2%; font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">&mdash;</TD><TD STYLE="width: 1%; padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">%</TD><TD STYLE="width: 2%; font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 6%; border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">1.52</TD><TD STYLE="width: 1%; padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 6%; border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">1.55</TD><TD STYLE="width: 1%; padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Restructuring and other charges</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">.03</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">.08</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Contingent consideration</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(.02</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&mdash;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Goodwill and other intangible asset impairments</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1.81</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">.09</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Other income</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(1.23</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&mdash;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; text-align: left; padding-bottom: 1pt">Remeasurement of U.S. net deferred tax assets as of the
    TCJA enactment date</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">.02</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">Non-GAAP</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">16</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">21</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">2.11</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">1.74</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Impact of foreign currency on earnings per share</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">.01</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; text-align: left; padding-bottom: 1pt">Non-GAAP, constant currency earnings per share</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">21</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">2.12</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>


<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin: 0"></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><SUP>(1)</SUP> <FONT STYLE="font: 400 10pt Times New Roman, Times, Serif"><I>Represents GAAP, except Constant Currency percentages</I></FONT></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 41.4pt 0pt 0; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left">The Company acquired the remaining
stake in Have &amp; Be Co. Ltd. (&ldquo;Have &amp; Be&rdquo;), the owner of Dr. Jart+, on December 18, 2019, which resulted in
Other income of $576 million, or $1.23 per diluted share, primarily due to a gain on its original minority investment. The results
of operations will be reported on a one-month lag to facilitate consolidated reporting and, therefore, are not included in the
financial statements for the periods ended December 31, 2019. The Company also recorded a $777 million, or $1.81 per diluted share,
impairment charge across three makeup brands, Too Faced, BECCA and Smashbox, reflecting continued softness in the makeup category
generally in North America. Net sales and operating income in the Company&rsquo;s product categories and regions outside of the
United States were unfavorably impacted by a stronger U.S. dollar in relation to most currencies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 41.4pt 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left"><FONT STYLE="text-decoration: none"></FONT></P>

<!-- Field: Page; Sequence: 3; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%"><IMG SRC="tm206175d1_ex99-1img002.jpg" ALT="">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">&nbsp;</TD><TD STYLE="vertical-align: bottom; width: 33%; text-align: right">Page <B><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --> </B>of <B>19</B></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Results by Product Category</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 41.4pt 0pt 0; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 41.4pt 0pt 0; text-align: left"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="font-size: 10pt; color: white; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="26" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>Three
    Months Ended December 31</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: white; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="6" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt"><B>Net
    Sales</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="6" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt"><B>Percent
    Change</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="6" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt"><B>Operating
    Income<BR>
 (Loss)</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt"><B>Percent<BR>

    Change</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-style: italic; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt"><B>(Unaudited;
    $ in millions)</B></FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt"><B>2019</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt"><B>2018</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt"><B>Reported<BR>

    Basis</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt"><B>Constant<BR>

    Currency</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt"><B>2019</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt"><B>2018</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt"><B>Reported<BR>

    Basis</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 30%; font-size: 10pt; text-align: left">Skin Care</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right">2,205</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right">1,732</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right">27</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right">28</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right">772</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right">565</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right">37</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">Makeup</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,660</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,560</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">6</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">7</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(611</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">138</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(100</TD><TD STYLE="font-size: 10pt; text-align: left">+)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">Fragrance</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">581</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">537</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">8</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">9</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">97</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">84</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">15</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Hair Care</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">162</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">154</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">5</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">5</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">12</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">15</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(20</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt">Other</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">16</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">22</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(27</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(27</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">4</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">4</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 9px">Subtotal</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">4,624</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">4,005</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">15</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">16</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">274</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">806</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">(66</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; text-align: left; padding-bottom: 1pt">Returns/charges associated with restructuring and other
    activities</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(13</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(35</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">Total</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">4,624</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">4,005</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">15</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">16</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">261</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">771</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">(66</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">)%</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left">Total reported operating
income was $261 million, a 66% decrease from $771 million in the prior year. Operating income excluding (i) goodwill and
other intangible asset impairments related to Too Faced, BECCA and Smashbox of $777 million compared to $38 million related
to Smashbox in the prior-year period, (ii) restructuring and other charges and adjustments of $6 million compared with
restructuring and other charges and adjustments of $37 million recorded in the prior-year period and (iii) the unfavorable
impact of currency translation of $4 million, increased 24%. This improvement largely reflected higher net sales and
disciplined expense management throughout the business despite increased strategic investments in advertising and promotional
activities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left"><B><U>Skin Care</U></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Skin care net sales
grew across all regions, led by Est&eacute;e Lauder and La Mer. Origins and Clinique also grew globally.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The Est&eacute;e Lauder
brand delivered growth in all regions and every major channel, reflecting continued strength across several of its core product
franchises, such as Advanced Night Repair, Perfectionist, Re-Nutriv, Revitalizing Supreme+ and Micro Essence, supported by successful
innovations and strong holiday campaigns.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Double-digit growth
from La Mer was broad-based, with net sales increasing across every region and major channel, driven by higher net sales of existing
products, as well as the relaunch of The Regenerating Serum. Targeted expanded consumer reach, large scale influencer activations
and strong holiday programs also contributed to growth.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Origins net sales benefitted
primarily from growth in the brand&rsquo;s treatment lotions and moisturizers, such as Dr. Weil Mega Mushroom Treatment Lotion
and Serum.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Clinique&rsquo;s growth
was driven by increases in its hero franchises, including Smart and Moisture Surge, which also drove growth in Europe and travel
retail.</FONT></TD></TR></TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Operating income increased sharply, primarily from
Est&eacute;e Lauder and La Mer, reflecting higher net sales.</FONT></TD></TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left"><B></B></P>

<!-- Field: Page; Sequence: 4; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%"><IMG SRC="tm206175d1_ex99-1img002.jpg" ALT="">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">&nbsp;</TD><TD STYLE="vertical-align: bottom; width: 33%; text-align: right">Page <B><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --> </B>of <B>19</B></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Makeup</U></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Net sales growth in
makeup was primarily driven by increases from Est&eacute;e Lauder, Tom Ford Beauty, Bobbi Brown and La Mer. These increases were
partially offset by lower net sales primarily from BECCA and Smashbox. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Est&eacute;e Lauder
generated solid double-digit growth, driven by strength from its Double Wear line of products and initial shipments of Futurist
Hydra Rescue Moisturizing Makeup SPF 45, as we expanded distribution beyond Asia.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Net sales from Tom
Ford Beauty increased double digits, primarily driven by its eye shadow and cushion compact products in Asia/Pacific, as well as
targeted expanded consumer reach. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Bobbi Brown&rsquo;s
double-digit growth across Asia/Pacific and Travel Retail was largely driven by the continued success of its Intensive Skin Serum
Foundation and the launch of Luxe Shine Intense Lipstick.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif">La Mer&rsquo;s strong
double-digit growth was driven by successful holiday events and campaigns.</FONT></TD></TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Makeup operating
income declined, primarily reflecting goodwill and other intangible asset impairments related to Too Faced, BECCA and Smashbox.
 &nbsp;Strategic investments to support initiatives at M</FONT><FONT STYLE="font-family: Wingdings">&#158;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">A</FONT><FONT STYLE="font-family: Wingdings">&#158;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">C
also contributed to the decrease. These were partially offset by increases from Est&eacute;e Lauder and La Mer, reflecting their
sales gains, as well as disciplined expense management from Clinique. </FONT></TD></TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left"><B><U>Fragrance</U></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Net sales growth was
driven primarily by increases from Jo Malone London and Tom Ford Beauty.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Jo Malone London&rsquo;s
double-digit net sales increase primarily reflected strong holiday activations, the launch of Poppy &amp; Barley and targeted expanded
consumer reach.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 41.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Increased net sales
from Tom Ford Beauty reflected the continued success of certain Private Blend fragrances and the launch of M&eacute;tallique. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 41.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Fragrance operating
income growth was driven primarily by higher net sales and disciplined expense management. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 41.4pt 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left"><B><U>Hair Care</U></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Hair care net sales
grew at both Aveda and Bumble and bumble. Aveda net sales benefitted from the launch of Nutriplenish, a new line of hydrating
hair care products. In addition, Full Spectrum Demi Plus and the relaunch of Sap Moss also contributed to net sales growth.</FONT></TD></TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Hair care operating income declined, reflecting marketing
support for Aveda&rsquo;s new and recent launches.</FONT></TD></TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0.5in"></P>

<!-- Field: Page; Sequence: 5; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%"><IMG SRC="tm206175d1_ex99-1img002.jpg" ALT="">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">&nbsp;</TD><TD STYLE="vertical-align: bottom; width: 33%; text-align: right">Page <B><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --> </B>of <B>19</B></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<!-- Field: Split-Segment; Name: 2 -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0.5in">&nbsp;</P>

<P STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Results by Geographic Region</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="font-size: 10pt; color: white; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="26" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>Three
    Months Ended December 31</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: white; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="6" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt"><B>Net
    Sales</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="6" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt"><B>Percent
    Change</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="6" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt"><B>Operating
    Income<BR>
 (Loss)</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt"><B>Percent<BR>

    Change</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-style: italic; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt"><B>(Unaudited;
    $ in millions)</B></FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt"><B>2019</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt"><B>2018</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt"><B>Reported
    Basis</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt"><B>Constant
    Currency</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt"><B>2019</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt"><B>2018</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt"><B>Reported<BR>

    Basis</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 30%; font-size: 10pt; text-align: left">The Americas</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right">1,226</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right">1,218</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right">1</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right">1</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right">(529</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">)</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right">149</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right">(100</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">+)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Europe, the Middle East &amp; Africa</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,079</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,767</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">18</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">18</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">505</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">418</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">21</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt">Asia/Pacific</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,319</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,020</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">29</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">30</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">298</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">239</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">25</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 9px">Subtotal</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">4,624</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">4,005</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">15</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">16</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">274</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">806</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">(66</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; text-align: left; padding-bottom: 1pt">Returns/charges associated with
    restructuring and other activities</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(13</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(35</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">Total</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">4,624</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">4,005</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">15</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">16</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">261</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">771</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">(66</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">)%</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The impairment charges for the makeup brands mentioned earlier
were entirely reflected in The Americas region, negatively impacting operating income there. Beginning in the fiscal 2020 first
quarter, changes were made to reflect certain Leading Beauty Forward enhancements in the capabilities and cost structure of our
travel retail business, which are primarily centralized in The Americas region. This resulted in a change to the royalty structure
of the travel retail business to reflect the value created in The Americas region. Accordingly, for the second quarter, the fiscal
2019 operating income of The Americas was increased by $210 million, with a corresponding decrease in Europe, the Middle East &amp;
Africa, to conform with the current year methodology and presentation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left"><B><U>The Americas</U></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">In North America, skin care net
                                                                                                                                 sales continued to grow, driven by increases from Est&eacute;e Lauder, Origins and La Mer.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Fragrance
net
                                                                                                                                 sales rose double-digits in North America, due, in part, to compelling holiday offerings from Jo Malone London and the successful launches
of Soleil Neige and M&eacute;tallique from Tom Ford Beauty.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
North America beauty industry continued to be challenged by soft color cosmetics sales, which impacted makeup category results
at many of the Company&rsquo;s brands.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Net
sales in North America grew double-digits in specialty-multi and solidly in direct-to-consumer channels, while brick-and-mortar
department stores remained challenged.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Net
sales in Latin America declined slightly, as gains across most of the region were offset by a decline in Chile, reflecting social
unrest in that country.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-weight: normal">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">Operating
income in The Americas decreased, reflecting goodwill and other intangible asset impairments related to makeup brands Too Faced,
BECCA and Smashbox. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0.5in; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left"><B><U>Europe, the Middle East &amp;
Africa</U></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The Company generated
strong net sales growth in the region, primarily due to strong double-digit gains in travel retail, online and specialty-multi.
</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Net sales growth
                                                                                                               from the Company&rsquo;s travel retail business was broad-based, with double-digit growth in many of the brands, led by
                                                                                                               Est&eacute;e Lauder, La Mer, Origins, </FONT></TD></TR></TABLE>

<P STYLE="margin: 0"></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0"><B></B></P>

<!-- Field: Page; Sequence: 6; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%"><IMG SRC="tm206175d1_ex99-1img002.jpg" ALT="">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">&nbsp;</TD><TD STYLE="vertical-align: bottom; width: 33%; text-align: right">Page <B><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --> </B>of <B>19</B></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
                                                                                                                                                                                                       <TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in">&nbsp;</TD><TD STYLE="width: 0.25in">&nbsp;</TD><TD STYLE="text-align: left; padding-right: 0.6in">Clinique and Tom Ford Beauty. Growth also reflected the increase in international passenger
                                                                                                               traffic, improved conversion and strategic investments to support both new and existing products. In addition, successful
                                                                                                               innovations and targeted expanded consumer reach contributed to growth.</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Most markets in the
region contributed to growth in constant currency. Developed markets grew, including Italy, Iberia, Germany and the U.K., and emerging
markets in the region grew double-digits in aggregate, led by Russia and India.</FONT></TD></TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Operating income increased, primarily reflecting
strong double-digit growth in travel retail, Russia and the U.K., partially offset by higher marketing investments across the region.</FONT></TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left"><B><U>Asia/Pacific </U></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Net sales growth was
broad-based, with nearly every market in the region growing and more than a third increasing double digits in constant currency.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Greater China delivered
strong double-digit net sales growth. Growth accelerated on the mainland, reflecting, in part, an outstanding performance related
to Singles Day and other events. Net sales in Hong Kong declined as a result of the ongoing events impacting key shopping areas.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Emerging markets in
Southeast Asia delivered strong growth. Among developed markets, Korea rose double digits and both Japan and Australia grew solidly
in constant currency. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Most brands and each
major product category generated double-digit net sales growth in the region.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Net sales in major
channels increased, led by online, which more than doubled. In addition, net sales in freestanding stores and specialty-multi increased
double-digits and department stores had strong growth.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Operating income increased,
reflecting the higher net sales, partially offset by strategic investments in advertising to support net sales growth. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left"><FONT STYLE="text-decoration: none"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: justify"><B><U>Six-Month Results</U></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif">For the six months
ended December 31, 2019, the Company reported net sales of $8.52 billion, a 13% increase compared with $7.53 billion in the prior-year
period. Net sales increased 14% in constant currency.</FONT></TD></TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Net earnings were $1.15 billion, and diluted earnings
per share was $3.13. In the prior-year six months, the Company reported net earnings of $1.07 billion and diluted earnings per
share of $2.88.</FONT></TD></TR></TABLE>




<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif">During
the six-months ended December 31, 2019, the Company recorded restructuring and other charges, changes in contingent consideration,
goodwill and other intangible asset impairments and Other income primarily related to a gain on a previously held equity investment
in Have &amp; Be that, combined, totaled $232 million ($238 million after tax), equal to $.65 per diluted share. The prior-year
period results include restructuring and other charges, goodwill and other intangible asset impairments and changes in contingent
consideration that, combined, totaled $111 million ($94 million after tax), equal to $.25 per diluted share, as detailed in the
table on page 14.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left"><FONT STYLE="text-decoration: none"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left"><FONT STYLE="text-decoration: none"><B></B></FONT></P>

<!-- Field: Page; Sequence: 7; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%"><IMG SRC="tm206175d1_ex99-1img002.jpg" ALT="">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">&nbsp;</TD><TD STYLE="vertical-align: bottom; width: 33%; text-align: right">Page <B><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --> </B>of <B>19</B></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left"><FONT STYLE="text-decoration: none"><B>&nbsp;</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in"></TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="text-align: left; padding-right: 0.6in">Adjusting for restructuring and other charges and adjustments, diluted net earnings per common share for the six months ended December 31, 2019 was $3.78, and in constant currency rose 21%. For the six months ended December 31, 2019, the negative impact of foreign currency translation on diluted net earnings per common share was $.02.</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left"><FONT STYLE="text-decoration: none"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left"><B><U>Cash Flows</U></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif">For the six months
ended December 31, 2019, net cash flows provided by operating activities were $1.26 billion, relatively flat to the prior-year
period. The favorable increase in net earnings was offset by the timing and level of accounts payable and, to a lesser extent,
taxes.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif">On December 18, 2019,
the company used $1.27 billion in cash to complete the acquisition of Have &amp; Be. This was financed with the proceeds from a
$1.8 billion offering of new senior notes, a portion of which is also expected to be used to refinance $500 million of senior notes
due February 7, 2020. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0.5in; text-align: left"><FONT STYLE="text-decoration: none"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left"><B><U>Outlook for Fiscal 2020 Second
Half and Full Year</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 41.4pt 0pt 0">The Company continues to see strong consumer demand
for its high-quality products, and for the fiscal year expects to grow ahead of the industry and to continue building global share.
The Company expects global prestige beauty to be adversely impacted over the next few months by the coronavirus. The Company is
also mindful of risks related to social, economic and political issues, including geopolitical tensions, regulatory matters, global
security issues, currency volatility and economic challenges that could affect consumer spending in certain countries and travel
corridors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 41.4pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 41.4pt 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 41.4pt 0pt 0">The Company&rsquo;s guidance includes assumptions
on the estimated impact and duration of the recent coronavirus outbreak, based on its knowledge at this time, which is still very
difficult to predict. After experiencing continued strong momentum into January, the Company has seen a significant decline in
air travel and consumer traffic in key shopping and tourist areas. Global travel retail, localities most affected by the virus
outbreak and destination markets favored by tourists are expected to experience the greatest negative impact in the coming months
followed by a gradual recovery later in the fiscal year. The Company stands ready to facilitate the recovery as soon as the market
dynamics support it.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 41.4pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 41.4pt 0pt 0">The Company has also reflected the following risks
in its outlook:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="padding-right: 41.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Continued softness of brick and mortar
retail in the United States and United Kingdom impacting overall prestige beauty industry growth, especially in the makeup category.
</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="padding-right: 41.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Risks associated with ongoing negotiations
on trade agreements between the United States and several other countries and the related, known tariffs. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="padding-right: 41.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Continued challenges in Hong Kong impacting
key shopping areas.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 41.4pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: justify"><B><U>Second Half Fiscal 2020</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: justify"><FONT STYLE="text-decoration: none">Due
to the evolving and uncertain nature of the risk related to the coronavirus, the Company is only providing guidance for the
second half of the fiscal year at this time instead of the quarterly guidance typically issued.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: justify"><FONT STYLE="text-decoration: none"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: justify"><FONT STYLE="text-decoration: none"><B></B></FONT></P>

<!-- Field: Page; Sequence: 8; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%"><IMG SRC="tm206175d1_ex99-1img002.jpg" ALT="">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">&nbsp;</TD><TD STYLE="vertical-align: bottom; width: 33%; text-align: right">Page <B><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --> </B>of <B>19</B></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<!-- Field: Split-Segment; Name: 3 -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: justify"><FONT STYLE="text-decoration: none"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: justify; text-indent: 0.25in"><B><I><U>Sales
Outlook</U></I></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Reported net sales
are forecasted to increase between 0% and 1% versus the prior-year period. &nbsp;The third quarter is anticipated to be the most negatively
impacted by the coronavirus with sales declining versus the prior-year period. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The Company&rsquo;s
recent acquisition of Have &amp; Be is forecasted to contribute approximately 2% to the Company&rsquo;s overall sales
growth.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Excluding the impact
of the acquisition and 1% negative impact from currency, net sales are forecasted to decline between 0% to 1%.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: justify; text-indent: 0.25in"><B><I><U>Earnings
per Share Outlook</U></I></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Reported diluted net
earnings per common share are projected to be between $1.70 and $1.81. Excluding restructuring and other charges and adjustments,
diluted net earnings per common share are projected to be between $1.82 and $1.91.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Excluding the $.17 per share dilution related to the acquisition, adjusted diluted earnings
per common share are expected to decrease between 3% and 7% on a constant currency basis.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="text-decoration: none">o</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in"><FONT STYLE="text-decoration: none">Currency exchange rates are volatile and
difficult to predict. Using December 31, 2019 spot rates, the negative currency impact equates to about $.03 of diluted earnings
per common share.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="text-decoration: none">o</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in"><FONT STYLE="text-decoration: none">The Company expects to take charges associated
with previously approved restructuring and other activities relating to Leading Beauty Forward of approximately $45 million to
$60 million, equal to $.10 to $.12 per diluted common share.</FONT></TD></TR></TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left"><B><U>Full Year Fiscal 2020</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left"><FONT STYLE="text-decoration: none"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left; text-indent: 0.25in"><B><I><U>Sales
Outlook</U></I></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Reported net sales
are forecasted to increase between 6% and 8% versus the prior-year period.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The Company&rsquo;s
recent acquisition of Have &amp; Be is forecasted to contribute approximately 1% to the Company&rsquo;s overall sales
growth.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Excluding the impact
of the acquisition and 1% negative impact from currency, net sales are forecasted to grow between 6% and 8%, in-line with the Company&rsquo;s
long-term growth goal.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left; text-indent: 0.25in"><B><I><U>Earnings
per Share Outlook</U></I></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Reported diluted net
earnings per common share are projected to be between $4.83 and $4.95. Excluding restructuring and other charges and adjustments,
diluted net earnings per common share are projected to be between $5.60 and $5.70.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in">Excluding the $.18 per share dilution related to the acquisition, adjusted diluted earnings
per common share are expected to increase between 9% and 11% on a constant currency basis.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="text-decoration: none">o</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in"><FONT STYLE="text-decoration: none">Currency exchange rates are volatile and
difficult to predict. Using December 31, 2019 spot rates for the remaining quarters of fiscal 2020, the </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left"><FONT STYLE="text-decoration: none"></FONT></P>

<!-- Field: Page; Sequence: 9; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%"><IMG SRC="tm206175d1_ex99-1img002.jpg" ALT="">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">&nbsp;</TD><TD STYLE="vertical-align: bottom; width: 33%; text-align: right">Page <B><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --> </B>of <B>19</B></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">                                                                                                                                          <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: left; padding-right: 0.6in">negative currency impact
equates to about $.05 of diluted earnings per common share.</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="text-decoration: none">o</FONT></TD><TD STYLE="text-align: left; padding-right: 0.6in"><FONT STYLE="text-decoration: none">The Company expects to take charges associated
with previously approved restructuring and other activities relating to Leading Beauty Forward of approximately $80 million to
$95 million, equal to $.19 to $.21 per diluted common share.</FONT></TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">Reconciliation
between GAAP and non-GAAP</P>



<P STYLE="margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0"><FONT STYLE="font-size: 10pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font-size: 10pt; font-weight: bold; vertical-align: top"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="14" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>Six&nbsp;Months&nbsp;Ending&nbsp;June&nbsp;30,&nbsp;2020&nbsp;(F)</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>Six&nbsp;Months&nbsp;June&nbsp;30</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font-size: 10pt; font-weight: bold; vertical-align: top"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="7" STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>Net&nbsp;Sales</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="7" STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>Diluted&nbsp;EPS</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>Diluted&nbsp;Earnings&nbsp;Per&nbsp;Share</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; font-size: 10pt; font-weight: bold; vertical-align: bottom"><FONT STYLE="font-size: 8pt"><B><I>(Unaudited)</I></B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>%<BR>
    Change</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>%&nbsp;Change,<BR>
    Constant<BR> Currency</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>%&nbsp;Change</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>%&nbsp;Change,<BR>
    Constant<BR> Currency</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>2020(F)</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>2019</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; width: 34%; font-size: 10pt; text-align: left">Forecast/Actual As
    Reported results including restructuring and other charges and adjustments <SUP>(1)</SUP></TD>
    <TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 8%; font-size: 10pt; text-align: right">0%-1%</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 8%; font-size: 10pt; text-align: right">1%-2%</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 8%; font-size: 10pt; text-align: right">(12%)-(7%)</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 8%; font-size: 10pt; text-align: right">(10%)-(5%)</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD>
    <TD STYLE="width: 8%; font-size: 10pt; text-align: right">1.70-$1.81</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD>
    <TD STYLE="width: 8%; font-size: 10pt; text-align: right">1.93</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left">Restructuring and other charges</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">.10-.12</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">.33</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left">Contingent consideration</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&mdash;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">(.06</TD>
    <TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; text-align: left">Gain on liquidation of an investment in a foreign subsidiary, net</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&mdash;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">(.15</TD>
    <TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt; vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; text-align: left">Goodwill and other intangible asset impairments</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&mdash;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">.14</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; text-align: left; font-size: 10pt; font-weight: bold; vertical-align: top">Non-GAAP</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><B>1%-2%</B></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><B>(17%)-(13%)</B></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">$</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><B>1.82-$1.91</B></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">$</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">2.18</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; text-align: left">Impact of foreign currency on earnings per share</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">.03</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; font-weight: bold; text-align: left">Forecasted Non-GAAP constant currency earnings per share</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><B>(15%)-(11%)</B></TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">$</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><B>1.85-$1.94</B></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
</TABLE>


<P STYLE="margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="14" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><B>Year&nbsp;Ending&nbsp;June&nbsp;30,&nbsp;2020&nbsp;(F)</B></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"><B>Twelve&nbsp;Months&nbsp;June&nbsp;30</B></P>


</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>Net&nbsp;Sales</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>Diluted&nbsp;EPS</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>Diluted&nbsp;Earnings&nbsp;Per&nbsp;Share</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><I>(Unaudited)</I></FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">%<BR>
    Change</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">%&nbsp;Change,<BR>
    Constant<BR> Currency</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">%&nbsp;Change</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">%&nbsp;Change,<BR>
    Constant<BR> Currency</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">2020(F)</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">2019</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; width: 34%; font-size: 10pt; text-align: left">Forecast/Actual As
    Reported results including restructuring and other charges and adjustments <SUP>(1)</SUP></TD>
    <TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 8%; font-size: 10pt; text-align: right">6%-8%</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 8%; font-size: 10pt; text-align: right">7%-9%</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 8%; font-size: 10pt; text-align: right">0%-3%</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 8%; font-size: 10pt; text-align: right">1%-4%</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD>
    <TD STYLE="width: 8%; font-size: 10pt; text-align: right">&nbsp;4.83-$4.95&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD>
    <TD STYLE="width: 8%; font-size: 10pt; text-align: right">4.82</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Restructuring and other charges</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">.19-.21</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">.51</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Contingent consideration</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">(.02</TD>
    <TD STYLE="font-size: 10pt; text-align: left">)</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">(.08</TD>
    <TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; text-align: left">Gain on liquidation of an investment in a foreign subsidiary, net</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&mdash;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">(.15</TD>
    <TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Goodwill and other intangible asset impairments</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">1.81</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">.23</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Other income</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">(1.23</TD>
    <TD STYLE="font-size: 10pt; text-align: left">)</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&mdash;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">TCJA impacts</TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&mdash;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">.01</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">Non-GAAP</TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><B>7%-9%</B></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><B>5%-7%</B></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">$</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><B>5.60-$5.70</B></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">$</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">5.34</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Impact of foreign currency on earnings per share</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">.05</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; font-weight: bold; text-align: left">Forecasted Non-GAAP constant currency earnings per share</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">6%-8%</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><B>$</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">5.65-$5.75</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
</TABLE>




<P STYLE="margin: 0"><FONT STYLE="font-size: 10pt"></FONT></P>

<P STYLE="margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin: 0"><FONT STYLE="font-size: 10pt"></FONT></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><SUP>(1)</SUP> <FONT STYLE="font: 400 10pt Times New Roman, Times, Serif"><I>Represents GAAP, except Constant Currency percentages</I></FONT></P>

<P STYLE="text-align: left; font: italic 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">(F) Represents forecast</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">EPS amounts may not foot due to rounding &nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left"><B><U>Conference Call</U></B> The
Est&eacute;e Lauder Companies will host a conference call at 9:30 a.m. (ET) today, February 6, 2020 to discuss its results. The
dial-in number for the call is 888-294-4716 in the U.S. or 706-902-0101 internationally (conference ID number: 4437719). The call
will also be webcast live at <U>http://www.elcompanies.com/investors/events-and-presentations</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left"><B><U>Cautionary Note Regarding
Forward-Looking Statements</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Statements in this press release, in
particular those in &ldquo;Outlook for Fiscal 2020 Second Half  and Full Year,&rdquo; as well as remarks by the CEO and
other members of management, may constitute forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. Such statements may address our expectations regarding sales, earnings or other future
financial performance and liquidity, other performance measures, product introductions, entry into new geographic regions,
information technology initiatives, new methods of sale, our long-term strategy, restructuring and other charges and
resulting cost savings, and future operations or operating results. These statements may contain words like
 &ldquo;expect,&rdquo; &ldquo;will,&rdquo; &ldquo;will likely result,&rdquo; &ldquo;would,&rdquo; &ldquo;believe,&rdquo;
 &ldquo;estimate,&rdquo; &ldquo;planned,&rdquo; &ldquo;plans,&rdquo; &ldquo;intends,&rdquo; &ldquo;may,&rdquo;
 &ldquo;should,&rdquo; &ldquo;could,&rdquo; &ldquo;anticipate,&rdquo; &ldquo;estimate,&rdquo; &ldquo;project,&rdquo;
 &ldquo;projected,&rdquo; &ldquo;forecast,&rdquo; and &ldquo;forecasted&rdquo; or similar expressions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left"><B></B></P>

<!-- Field: Page; Sequence: 10; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%"><IMG SRC="tm206175d1_ex99-1img002.jpg" ALT="">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">&nbsp;</TD><TD STYLE="vertical-align: bottom; width: 33%; text-align: right">Page <B><!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --> </B>of <B>19</B></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Factors that could cause actual
results to differ materially from our forward-looking statements include the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 22.5pt">(1)</TD><TD STYLE="padding-right: 0.6in">increased competitive activity from companies in the skin care, makeup, fragrance and hair care
businesses;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 22.5pt">(2)</TD><TD STYLE="padding-right: 0.6in">the Company&rsquo;s ability to develop, produce and market new products on which future operating
results may depend and to successfully address challenges in the Company&rsquo;s business;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 22.5pt">(3)</TD><TD STYLE="padding-right: 0.6in">consolidations, restructurings, bankruptcies and reorganizations in the retail industry causing
a decrease in the number of stores that sell the Company&rsquo;s products, an increase in the ownership concentration within the
retail industry, ownership of retailers by the Company&rsquo;s competitors or ownership of competitors by the Company&rsquo;s customers
that are retailers and our inability to collect receivables;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 22.5pt">(4)</TD><TD STYLE="padding-right: 0.6in">destocking and tighter working capital management by retailers;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 22.5pt">(5)</TD><TD STYLE="padding-right: 0.6in">the success, or changes in timing or scope, of new product launches and the success, or changes
in the timing or the scope, of advertising, sampling and merchandising programs;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 22.5pt">(6)</TD><TD STYLE="padding-right: 0.6in">shifts in the preferences of consumers as to where and how they shop;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 22.5pt">(7)</TD><TD STYLE="padding-right: 0.6in">social, political and economic risks to the Company&rsquo;s foreign or domestic manufacturing,
distribution and retail operations, including changes in foreign investment and trade policies and regulations of the host countries
and of the United States;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 22.5pt">(8)</TD><TD STYLE="padding-right: 0.6in">changes in the laws, regulations and policies (including the interpretations and enforcement thereof)
that affect, or will affect, the Company&rsquo;s business, including those relating to its products or distribution networks, changes
in accounting standards, tax laws and regulations, environmental or climate change laws, regulations or accords, trade rules and
customs regulations, and the outcome and expense of legal or regulatory proceedings, and any action the Company may take as a result;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 22.5pt">(9)</TD><TD STYLE="padding-right: 0.6in">foreign currency fluctuations affecting the Company&rsquo;s results of operations and the value
of its foreign assets, the relative prices at which the Company and its foreign competitors sell products in the same markets and
the Company&rsquo;s operating and manufacturing costs outside of the United States;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 22.5pt">(10)</TD><TD STYLE="padding-right: 0.6in">changes in global or local conditions, including those due to the volatility in the global credit
and equity markets, natural or man-made disasters, real or perceived epidemics, or energy costs, that could affect consumer purchasing,
the willingness or ability of consumers to travel and/or purchase the Company&rsquo;s products while traveling, the financial strength
of the Company&rsquo;s customers, suppliers or other contract counterparties, the Company&rsquo;s operations, the cost and availability
of capital which the Company may need for new equipment, facilities or acquisitions, the returns that the Company is able to generate
on its pension assets and the resulting impact on funding obligations, the cost and availability of raw materials and the assumptions
underlying the Company&rsquo;s critical accounting estimates;</TD></TR>                                                                       <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>(11)</TD><TD STYLE="padding-right: 0.6in">impacts attributable to the coronavirus outbreak, including disruptions to our global business;</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 22.5pt">(12)</TD><TD STYLE="padding-right: 0.6in">shipment delays, commodity pricing, depletion of inventory and increased production costs resulting
from disruptions of operations at any of the facilities that manufacture the Company&rsquo;s products or at the Company&rsquo;s
distribution or inventory centers, including disruptions that may be caused by the implementation of information technology initiatives,
or by restructurings;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 22.5pt">(13)</TD><TD STYLE="padding-right: 0.6in">real estate rates and availability, which may affect the Company&rsquo;s ability to increase or
maintain the number of retail locations at which the Company sells its products and the costs associated with the Company&rsquo;s
other facilities;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 22.5pt">(14)</TD><TD STYLE="padding-right: 0.6in">changes in product mix to products which are less profitable;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 22.5pt">(15)</TD><TD STYLE="padding-right: 0.6in">the Company&rsquo;s ability to acquire, develop or implement new information and distribution
technologies and initiatives on a timely basis and within the Company&rsquo;s cost estimates and the Company&rsquo;s ability to
maintain continuous operations of such systems and the security of data and other information that may be stored in such systems
or other systems or media;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 22.5pt">(16)</TD><TD STYLE="padding-right: 0.6in">the Company&rsquo;s ability to capitalize on opportunities for improved efficiency, such as publicly-announced
strategies and restructuring and cost-savings initiatives, and to integrate acquired businesses and realize value therefrom;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 22.5pt">(17)</TD><TD STYLE="padding-right: 0.6in">consequences attributable to local or international conflicts around the world, as well as from
any terrorist action, retaliation and the threat of further action or retaliation;</TD></TR></TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<!-- Field: Page; Sequence: 11; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%"><IMG SRC="tm206175d1_ex99-1img002.jpg" ALT="">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">&nbsp;</TD><TD STYLE="vertical-align: bottom; width: 33%; text-align: right">Page <B><!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --> </B>of <B>19</B></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 22.5pt">(18)</TD><TD STYLE="padding-right: 0.6in">the timing and impact of acquisitions, investments and divestitures; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 22.5pt">(19)</TD><TD STYLE="padding-right: 0.6in">additional factors as described in the Company&rsquo;s filings with the Securities and Exchange
Commission, including its Annual Report on Form 10-K for the fiscal year ended June 30, 2019.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 40.5pt; text-indent: -22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0.25in; text-align: left"><FONT STYLE="text-decoration: none">The
Company assumes no responsibility to update forward-looking statements made herein or otherwise.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0.25in; text-align: left"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>The Est&eacute;e Lauder Companies Inc.</U> is one of the
world&rsquo;s leading manufacturers and marketers of quality skin care, makeup, fragrance and hair care products. The Company&rsquo;s
products are sold in approximately 150 countries and territories under brand names including: Est&eacute;e Lauder, Aramis, Clinique,
Prescriptives, Lab Series, Origins, Tommy Hilfiger, M&middot;A&middot;C, Kiton, La Mer, Bobbi Brown, Donna Karan New York, DKNY,
Aveda, Jo Malone London, Bumble and bumble, Michael Kors, Darphin, Tom Ford, Smashbox, Ermenegildo Zegna, AERIN, RODIN olio lusso,
Le Labo, Editions de Parfums Fr&eacute;d&eacute;ric Malle, GLAMGLOW, By Kilian, BECCA, Too Faced and Dr. Jart+.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.6in 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 38.7pt 0pt 0; text-align: left">ELC-F</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 38.7pt 0pt 0; text-align: left">ELC-E</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 12; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%"><IMG SRC="tm206175d1_ex99-1img002.jpg" ALT="">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">&nbsp;</TD><TD STYLE="vertical-align: bottom; width: 33%; text-align: right">Page <B><!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --> </B>of <B>19</B></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">CONSOLIDATED STATEMENTS OF EARNINGS</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt"><B><I>(Unaudited;&nbsp;$&nbsp;in&nbsp;millions,&nbsp;except&nbsp;per&nbsp;share&nbsp;data</I></B></FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: center; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>Three&nbsp;Months&nbsp;Ended&nbsp;<BR>
                                         December&nbsp;31</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: center; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>Percent&nbsp;&nbsp;</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: center; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>Six&nbsp;Months&nbsp;Ended&nbsp;<BR>
                                         December&nbsp;31</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: center; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>Percent&nbsp;</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt"><B><I>and&nbsp;percentages)</I></B></FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: center; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>2019</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: center; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>2018</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: center; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>Change</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: center; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>2019</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: center; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>2018</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: center; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>Change</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 34%; font-size: 10pt; font-weight: bold; text-align: left">Net Sales</TD><TD STYLE="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 8%; font-size: 10pt; font-weight: bold; text-align: right">4,624</TD><TD STYLE="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 8%; font-size: 10pt; font-weight: bold; text-align: right">4,005</TD><TD STYLE="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; font-size: 10pt; font-weight: bold; text-align: right">15</TD><TD STYLE="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 8%; font-size: 10pt; font-weight: bold; text-align: right">8,519</TD><TD STYLE="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 8%; font-size: 10pt; font-weight: bold; text-align: right">7,529</TD><TD STYLE="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; font-size: 10pt; font-weight: bold; text-align: right">13</TD><TD STYLE="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">Cost of sales (A)</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,041</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">910</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: right">14</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,949</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,733</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: right">12</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">Gross Profit</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">3,583</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">3,095</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: right">16</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">6,570</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">5,796</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: right">13</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.25in; font-size: 10pt; font-weight: bold; text-align: left">Gross Margin</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">77.5</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">77.3</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">77.1</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">77.0</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-style: italic; text-align: left">Operating expenses:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Selling, general and administrative (B)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,538</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,257</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">12</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">4,723</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">4,265</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">11</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Restructuring and other charges (A)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">7</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">29</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(76</TD><TD STYLE="font-size: 10pt; text-align: left">)%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">30</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">70</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(57</TD><TD STYLE="font-size: 10pt; text-align: left">)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Goodwill impairment (C)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">511</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">20</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">100</TD><TD STYLE="font-size: 10pt; text-align: left">+%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">511</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">20</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">100</TD><TD STYLE="font-size: 10pt; text-align: left">+%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">Impairment of other intangible assets (C)</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">266</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">18</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: right">100</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">+%</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">266</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">18</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: right">100</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">+%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">3,322</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">2,324</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: right">43</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">5,530</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">4,373</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: right">26</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.25in; font-size: 10pt; font-weight: bold; text-align: left">Operating Expense Margin</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">71.8</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">58.0</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">64.9</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">58.1</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Operating Income</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">261</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">771</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">(66</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">)%</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">1,040</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">1,423</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">(27</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.25in; font-size: 10pt; font-weight: bold; text-align: left">Operating Income Margin</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">5.6</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">19.3</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">12.2</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">18.9</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Interest expense</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">38</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">35</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">9</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">70</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">69</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Interest income and investment income, net</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">13</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">12</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">8</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">27</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">27</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&mdash; </TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Other components of net periodic benefit cost</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&mdash;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">100</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&mdash;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">100</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">Other income (D)</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">576</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: right">100</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">576</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: right">100</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Earnings before Income Taxes</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">811</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">748</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">8</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">1,571</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">1,381</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">14</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">Provision for income taxes (E)</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">250</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">171</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: right">46</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">412</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">302</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: right">36</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Net Earnings</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">561</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">577</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">(3</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">)%</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">1,159</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">1,079</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">7</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; text-align: left">Net earnings attributable to noncontrolling interests</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(4</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(4</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(7</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(6</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: right">17</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">Net Earnings Attributable to The Est&eacute;e Lauder Companies Inc.</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">557</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">573</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: right">(3</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">)%</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">1,152</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">1,073</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: right">7</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; font-weight: bold; font-style: italic; text-align: left">Net earnings attributable to The
    Est&eacute;e Lauder Companies Inc. per common share:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold">Basic</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">$</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">1.55</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">$</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">1.58</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">(2</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">)%</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">$</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">3.19</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">$</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">2.94</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">9</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold">Diluted</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">1.52</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">1.55</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">(2</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">)%</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">3.13</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">2.88</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">9</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; font-style: italic">Weighted average common shares outstanding:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold">Basic</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">360.2</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">363.3</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">360.8</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">365.1</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold">Diluted</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">366.7</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">369.9</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">367.7</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">372.1</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(A)</TD><TD>In May 2016, we announced a multi-year initiative (&ldquo;Leading Beauty Forward&rdquo;) to build on our strengths and better
leverage our cost structure to free resources for investment to continue our growth momentum. Leading Beauty Forward is designed
to enhance our go-to-market capabilities, reinforce our leadership in global prestige beauty and continue creating sustainable
value. As of June 30, 2019, we concluded the approvals of all major initiatives under Leading Beauty Forward related to the optimization
of select corporate functions, supply chain activities, and corporate and regional market support structures, as well as the exit
of underperforming businesses, and expect to substantially complete those initiatives through fiscal 2021. Inclusive of approvals
from inception through June 30, 2019, we estimate that Leading Beauty Forward may result in related restructuring and other charges
totaling between $950 million and $990 million, before taxes, consisting of employee-related costs, asset write-offs and other
costs to implement these initiatives. After its full implementation, we expect Leading Beauty Forward to yield annual net benefits,
primarily in Selling, general </TD></TR></TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 13; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%"><IMG SRC="tm206175d1_ex99-1img002.jpg" ALT="">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">&nbsp;</TD><TD STYLE="vertical-align: bottom; width: 33%; text-align: right">Page <B><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --> </B>of <B>19</B></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
                                                                                                                                    <TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in">&nbsp;</TD><TD STYLE="width: 0.25in">&nbsp;</TD><TD>and administrative expenses and, to a lesser extent, Cost of sales, of between $425 million and $475
million, before taxes. These savings can be used to improve margin, mitigate risk and invest in future growth initiatives.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(B)</TD><TD>The Company recorded $7 million of income within selling, general and administrative expenses for the three and six months
ended December 31, 2019, to reflect changes in the fair value of its contingent consideration related to certain of its fiscal
2015 and 2016 acquisitions. During the three and six months ended December 31, 2018, the Company recorded $2 million of expense
and $9 million of income, respectively.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(C)</TD><TD>During December 2019, given the continuing declines in prestige makeup, generally in North America, and the ongoing
                                                                 competitive activity, the Company&rsquo;s Too Faced, BECCA and Smashbox reporting units made revisions to their internal
                                                                 forecasts concurrent with the Company&rsquo;s brand strategy review process, triggering a need for an interim impairment
                                                                 review. As a result of this review, the Company recorded $777 million ($663 million, net of tax) of goodwill and other
                                                                 intangible asset impairments, with an impact of $1.81 and $1.80 per common share for the three and six months ended December
                                                                 31, 2019, respectively. The Company recorded $38 million of goodwill and other intangible asset impairments, with an impact
                                                                 of $.09 per common share for the six months ended December 31, 2018, related to its Smashbox reporting unit.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(D)</TD><TD>In conjunction with the acquisition of the remaining equity interest in Have &amp; Be, the Company recorded a gain on its previously
held equity method investment of $553 million (inclusive of the recognition of a previously unrealized foreign currency gain of
$4 million, which was reclassified from accumulated other comprehensive income). The Company also recorded a $23 million foreign
currency gain as a result of cash transferred to a foreign subsidiary for the purposes of making the closing payment. The total
gain of $576 million had an impact of $1.23 and $1.22 per common share for the three and six months ended December 31, 2019, respectively.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(E)</TD><TD>During the three and six months ended December 31, 2018, the Company recorded a net charge of $6 million and $5 million, respectively,
equal to $.02 per common share to reflect the finalization of the provisional amounts for the impact of the Tax Cuts and Jobs Act
(&quot;TCJA&quot;).</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 14; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%"><IMG SRC="tm206175d1_ex99-1img002.jpg" ALT="">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">&nbsp;</TD><TD STYLE="vertical-align: bottom; width: 33%; text-align: right">Page <B><!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --> </B>of <B>19</B></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Returns and Charges Associated With Restructuring and Other Activities and Other Adjustments</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; font-size: 8pt; font-weight: bold">
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">Operating Expenses</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-size: 8pt; font-weight: bold">
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt"><I>(Unaudited; $ in millions, except
    per share<BR>
    data)</I></FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">Sales<BR>
    Returns</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">Cost of<BR>
    Sales</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">Restructuring<BR>
    Charges</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">Other<BR>
    Charges/<BR>
    Adjustments</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">Total</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">After Tax</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">Diluted<BR>
    Earnings Per <BR>
    Share</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-size: 8pt; font-weight: bold">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="27" STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Three Months Ended December 31, 2019</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="text-align: left">Leading Beauty Forward</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 8%; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;7</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 5%; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 7%; text-align: right">10</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">.03</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="text-align: left">Contingent consideration</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(7</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(7</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(6</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(.02</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Goodwill and other intangible asset impairments</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">777</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">777</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">663</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.81</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="padding-bottom: 1pt; text-align: left">Other income</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(576</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(576</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(450</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1.23</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="padding-bottom: 1pt"><B>Total</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><B>$</B></TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: right"><B>-</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><B>$</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>6</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><B>$</B></TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: right"><B>-</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><B>$</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>201</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><B>$</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>207</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><B>$</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>217</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><B>$</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>.59</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>

<TR STYLE="vertical-align: bottom; background-color: White; font-size: 8pt; font-weight: bold">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="27" STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Six Months Ended December 31, 2019</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="text-align: left">Leading Beauty Forward</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">38</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">31</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">.09</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="text-align: left">Contingent consideration</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(7</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(7</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(6</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(.02</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Goodwill and other intangible asset impairments</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">777</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">777</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">663</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.80</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="padding-bottom: 1pt; text-align: left">Other income</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(576</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(576</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(450</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1.22</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="padding-bottom: 1pt"><B>Total</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><B>$</B></TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: right"><B>-</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><B>$</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>8</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><B>$</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>1</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><B>$</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>223</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><B>$</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>232</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><B>$</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>238</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><B>$</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>.65</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD></TR>
</TABLE>


<P STYLE="margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; font-size: 8pt; font-weight: bold">
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">Operating Expenses</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-size: 8pt; font-weight: bold">
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt"><I>(Unaudited; $ in millions, except
    per share<BR>
    data)</I></FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">Sales<BR>
    Returns</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">Cost of<BR>
    Sales</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">Restructuring<BR>
    Charges</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">Other<BR>
    Charges/<BR>
    Adjustments</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">Total</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">After Tax</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">Diluted<BR>
    Earnings Per<BR>
    Share</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-size: 8pt; font-weight: bold">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="27" STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Three Months Ended December 31, 2018</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="text-align: left">Leading Beauty Forward</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 8%; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 5%; text-align: right">&nbsp;&nbsp;35</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 7%; text-align: right">&nbsp;&nbsp;&nbsp;31</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">.08</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="text-align: left">Contingent consideration</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Goodwill and other intangible asset impairments</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">38</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">38</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">34</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">.09</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="text-align: left">Transition Tax resulting from the TCJA</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Remeasurement of U.S. net deferred tax assets as of the TCJA enactment date</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">8</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">.02</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="padding-bottom: 1pt"><B>Total</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><B>$</B></TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: right"><B>-</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><B>$</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>6</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><B>$</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>4</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><B>$</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>65</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><B>$</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>75</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><B>$</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>72</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><B>$</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>.19</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="27" STYLE="text-align: center"><B>Six Months Ended December 31, 2018</B></TD><TD STYLE="text-align: left"><B>&nbsp;</B></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="text-align: left">Leading Beauty Forward</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">12</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">19</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">51</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">82</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">68</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">.18</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="text-align: left">Contingent consideration</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(9</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(9</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(8</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(.02</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Goodwill and other intangible asset impairments</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">38</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">38</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">34</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">.09</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="text-align: left">Transition Tax resulting from the TCJA</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(12</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(.03</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Remeasurement of U.S. net deferred tax assets as of the TCJA enactment date</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">.02</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Net deferred tax liability related to foreign withholding taxes on certain foreign earnings resulting from the TCJA</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">9</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">.03</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="padding-bottom: 1pt"><B>Total</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><B>$</B></TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: right"><B>-</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><B>$</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>12</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><B>$</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>19</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><B>$</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>80</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><B>$</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>111</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><B>$</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>99</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><B>$</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>.27</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 36.9pt 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 36.9pt 0pt 0; text-align: left"></P>

<!-- Field: Page; Sequence: 15; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%"><IMG SRC="tm206175d1_ex99-1img002.jpg" ALT="">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">&nbsp;</TD><TD STYLE="vertical-align: bottom; width: 33%; text-align: right">Page <B><!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --> </B>of <B>19</B></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 36.9pt 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">Results by Product Category</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 36.9pt 0pt 0; text-align: left">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; font-size: 8pt; font-weight: bold">
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="26" STYLE="border-bottom: Black 1pt solid; text-align: center">Six Months Ended December 31</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; font-size: 8pt; font-weight: bold">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; text-align: center">Net Sales</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; text-align: center">Percent Change</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; text-align: center">Operating Income<BR>
(Loss)</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">Percent<BR>
Change</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; font-size: 8pt; font-weight: bold">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><I>(Unaudited; $ in millions)</I></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">2019</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">2018</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">Reported<BR>
Basis</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">Constant<BR>
 Currency</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">2019</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">2018</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">Reported<BR>
Basis</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-size: 10pt; font-weight: bold">
    <TD STYLE="font-size: 10pt; width: 29%; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">Skin Care</FONT></TD><TD STYLE="font-size: 10pt; width: 1%"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 1%; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font-size: 10pt; width: 6%; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">4,047</FONT></TD><TD STYLE="font-size: 10pt; width: 1%; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; width: 1%"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 1%; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font-size: 10pt; width: 6%; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">3,218</FONT></TD><TD STYLE="font-size: 10pt; width: 1%; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; width: 1%"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 1%; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; width: 8%; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">26</FONT></TD><TD STYLE="font-size: 10pt; width: 1%; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">%</FONT></TD><TD STYLE="font-size: 10pt; width: 1%"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 1%; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; width: 8%; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">27</FONT></TD><TD STYLE="font-size: 10pt; width: 1%; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">%</FONT></TD><TD STYLE="font-size: 10pt; width: 1%"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 1%; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font-size: 10pt; width: 6%; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">1,404</FONT></TD><TD STYLE="font-size: 10pt; width: 1%; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; width: 1%"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 1%; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font-size: 10pt; width: 6%; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">1,031</FONT></TD><TD STYLE="font-size: 10pt; width: 1%; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; width: 1%"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 1%; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; width: 8%; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">36</FONT></TD><TD STYLE="font-size: 10pt; width: 3%; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Makeup</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,103</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,966</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(507</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">299</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(100</TD><TD STYLE="text-align: left">+)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Fragrance</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,043</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,009</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">163</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">139</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Hair Care</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">298</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">297</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">29</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(59</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt">Other</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">28</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">39</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(28</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(28</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">6</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">7</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(14</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; padding-left: 0.125in; text-align: left"><B>Subtotal</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><B>&nbsp;</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>8,519</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>7,529</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>13</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>14</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><B>&nbsp;</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>1,078</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>1,505</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>(28</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>)</B></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Returns/charges associated with restructuring and other activities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(38</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(82</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt"><B>Total</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><B>$</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>8,519</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><B>$</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>7,529</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>13</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>%</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>14</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>%</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><B>$</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>1,040</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><B>$</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>1,423</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>(27</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>)%</B></TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 36.9pt 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">Results by Geographic Region</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 23.4pt 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; font-size: 8pt; font-weight: bold">
    <TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="26" STYLE="border-bottom: Black 1pt solid; text-align: center">Six Months Ended December 31</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; font-size: 8pt; font-weight: bold">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; text-align: center">Net Sales</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; text-align: center">Percent Change</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; text-align: center">Operating Income<BR>
(Loss)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">Percent <BR>
Change</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; font-size: 8pt; font-weight: bold">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><I>(Unaudited; $ in millions)</I></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">2019</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">2018</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">Reported<BR>
 Basis</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">Constant <BR>
Currency</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">2019</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">2018</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">Reported <BR>
Basis</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-size: 10pt; font-weight: bold">
    <TD STYLE="font-size: 10pt; width: 29%; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">The Americas</FONT></TD><TD STYLE="font-size: 10pt; width: 1%"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 1%; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font-size: 10pt; width: 6%; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">2,386</FONT></TD><TD STYLE="font-size: 10pt; width: 1%; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; width: 1%"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 1%; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font-size: 10pt; width: 6%; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">2,454</FONT></TD><TD STYLE="font-size: 10pt; width: 1%; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; width: 1%"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 1%; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; width: 8%; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">(3</FONT></TD><TD STYLE="font-size: 10pt; width: 1%; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">)%</FONT></TD><TD STYLE="font-size: 10pt; width: 1%"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 1%; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; width: 8%; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">(3</FONT></TD><TD STYLE="font-size: 10pt; width: 1%; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">)%</FONT></TD><TD STYLE="font-size: 10pt; width: 1%"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 1%; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font-size: 10pt; width: 6%; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">(354</FONT></TD><TD STYLE="font-size: 10pt; width: 1%; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">)</FONT></TD><TD STYLE="font-size: 10pt; width: 1%"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 1%; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font-size: 10pt; width: 6%; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">383</FONT></TD><TD STYLE="font-size: 10pt; width: 1%; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; width: 1%"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 1%; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; width: 8%; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">(100</FONT></TD><TD STYLE="font-size: 10pt; width: 3%; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">+)%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Europe, the Middle East &amp; Africa</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,756</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,200</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">882</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">675</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">31</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt">Asia/Pacific</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,377</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,875</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">27</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">28</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">550</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">447</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">23</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; padding-left: 0.125in; text-align: left"><B>Subtotal</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><B>&nbsp;</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>8,519</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>7,529</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>13</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>14</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><B>&nbsp;</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>1,078</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><B>&nbsp;</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>1,505</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>(28</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>)</B></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Returns/charges associated with restructuring and other activities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(38</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(82</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt"><B>Total</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><B>$</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>8,519</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><B>$</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>7,529</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>13</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>%</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>14</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>%</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><B>$</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>1,040</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><B>$</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>1,423</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><B>(27</B></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><B>)%</B></TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 23.4pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 23.4pt 0pt 0">This earnings release includes some non-GAAP financial
measures relating to charges associated with restructuring and other activities, goodwill and other intangible asset impairments,
the changes in the fair value of contingent consideration, other income, the Transition Tax, the remeasurement of U.S. net deferred
tax assets as of the TCJA enactment date, and the establishment of a net deferred tax liability related to foreign withholding
taxes on certain foreign earnings resulting from the TCJA. The following is a reconciliation between the non-GAAP financial measures
and the most directly comparable GAAP measures for certain consolidated statements of earnings accounts before and after these
items. The Company uses certain non-GAAP financial measures, among other financial measures, to evaluate its operating performance,
which represent the way the Company conducts and views its business. Management believes that excluding certain items that are
not comparable from period to period, or do not reflect the Company&rsquo;s underlying ongoing business, provides transparency
for such items and helps investors and others compare and analyze operating performance from period to period. In the future, the
Company expects to incur charges or adjustments similar in nature to those presented below; however, the impact to the Company&rsquo;s
results in a given period may be highly variable and difficult to predict. Our non-GAAP financial measures may not be comparable
to similarly titled measures used by, or determined in a manner consistent with, other companies. While the Company considers the
non-GAAP measures useful in analyzing its results, they are </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0"></P>

<!-- Field: Page; Sequence: 16; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%"><IMG SRC="tm206175d1_ex99-1img002.jpg" ALT="">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">&nbsp;</TD><TD STYLE="vertical-align: bottom; width: 33%; text-align: right">Page <B><!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --> </B>of <B>19</B></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0">not intended to replace, or act as a substitute for, any presentation
included in the consolidated financial statements prepared in conformity with GAAP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 23.4pt 0pt 0">The Company operates on a global basis, with the
majority of its net sales generated outside the United States. Accordingly, fluctuations in foreign currency exchange rates can
affect the Company&rsquo;s results of operations. Therefore, the Company presents certain net sales, operating results and diluted
earnings per share information excluding the effect of foreign currency rate fluctuations to provide a framework for assessing
the performance of its underlying business outside the United States. Constant currency information compares results between periods
as if exchange rates had remained constant period-over-period. The Company calculates constant currency information by translating
current-period results using prior-year period weighted average foreign currency exchange rates and adjusting for the period-over-period
impact of foreign currency cash flow hedging activities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Reconciliation of Certain Consolidated Statements of Earnings Accounts Before and After Returns, Charges and Other Adjustments&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 7pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="18" STYLE="font-size: 7pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Three Months Ended<BR> December&nbsp;31, 2019</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="font-size: 7pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Three Months Ended<BR> December&nbsp;31, 2018</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 7pt; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 7pt; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 7pt; font-weight: bold; border-bottom: Black 1pt solid"><I>(Unaudited; $ in millions,<BR> except per
    share data and<BR> percentages)</I></TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 7pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">As <BR> Reported</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 7pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Returns/<BR> Charges/<BR> Adjustments</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 7pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Non-GAAP</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 7pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Impact of<BR> foreign<BR> currency<BR> translation</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 7pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Non-GAAP,<BR> Constant<BR> Currency</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 7pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">As <BR> Reported</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 7pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Returns/<BR> Charges/<BR> Adjustments</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 7pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Non-GAAP</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 7pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">% Change<BR> Non-GAAP</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 7pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">% Change<BR> Non-GAAP,<BR> Constant<BR> Currency</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 20%; font-size: 7pt; text-align: left; text-indent: -10.1pt; padding-left: 10.1pt">Net Sales</TD><TD STYLE="width: 1%; font-size: 7pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 7pt; text-align: left">$</TD><TD STYLE="width: 5%; font-size: 7pt; text-align: right">4,624</TD><TD STYLE="width: 1%; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 7pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 7pt; text-align: left">$</TD><TD STYLE="width: 5%; font-size: 7pt; text-align: right">&mdash;</TD><TD STYLE="width: 1%; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 7pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 7pt; text-align: left">$</TD><TD STYLE="width: 5%; font-size: 7pt; text-align: right">4,624</TD><TD STYLE="width: 1%; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 7pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 7pt; text-align: left">$</TD><TD STYLE="width: 5%; font-size: 7pt; text-align: right">22</TD><TD STYLE="width: 1%; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 7pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 7pt; text-align: left">$</TD><TD STYLE="width: 5%; font-size: 7pt; text-align: right">4,646</TD><TD STYLE="width: 1%; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 7pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 7pt; text-align: left">$</TD><TD STYLE="width: 5%; font-size: 7pt; text-align: right">4,005</TD><TD STYLE="width: 1%; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 7pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 7pt; text-align: left">$</TD><TD STYLE="width: 5%; font-size: 7pt; text-align: right">&mdash;</TD><TD STYLE="width: 1%; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 7pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 7pt; text-align: left">$</TD><TD STYLE="width: 5%; font-size: 7pt; text-align: right">4,005</TD><TD STYLE="width: 1%; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 7pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="width: 5%; font-size: 7pt; text-align: right">15</TD><TD STYLE="width: 1%; font-size: 7pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 7pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="width: 5%; font-size: 7pt; text-align: right">16</TD><TD STYLE="width: 1%; font-size: 7pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 7pt; padding-bottom: 1pt; text-indent: -10.1pt; padding-left: 10.1pt">Cost of sales</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">1,041</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">(6</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">)</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">1,035</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">5</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">1,040</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">910</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">(6</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">)</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">904</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 7pt; font-weight: bold; text-align: left; padding-bottom: 1pt; text-indent: -10.1pt; padding-left: 10.1pt">Gross Profit</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">3,583</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">6</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">3,589</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">17</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">3,606</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">3,095</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">6</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">3,101</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">16</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">16</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 7pt; font-weight: bold; text-align: left; text-indent: -10.1pt; padding-left: 10.1pt">Gross Margin</TD><TD STYLE="font-size: 7pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; text-align: right">77.5</TD><TD STYLE="font-size: 7pt; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; text-align: right">77.6</TD><TD STYLE="font-size: 7pt; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; text-align: right">77.6</TD><TD STYLE="font-size: 7pt; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 7pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; text-align: right">77.3</TD><TD STYLE="font-size: 7pt; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; text-align: right">77.4</TD><TD STYLE="font-size: 7pt; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 7pt; text-indent: -10.1pt; padding-left: 10.1pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 7pt; text-align: left; padding-bottom: 1pt; text-indent: -10.1pt; padding-left: 10.1pt">Operating expenses</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">3,322</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">(777</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">)</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">2,545</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">13</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">2,558</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">2,324</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">(69</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">)</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">2,255</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">13</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">%</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">13</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 7pt; text-align: left; padding-bottom: 1pt; text-indent: -10.1pt; padding-left: 10.1pt">Operating Expense Margin</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">71.8</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">%</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">55.0</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">%</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">55.1</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">%</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">58.0</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">%</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">56.3</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">%</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 7pt; font-weight: bold; text-align: left; padding-bottom: 1pt; text-indent: -10.1pt; padding-left: 10.1pt">Operating Income</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">261</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">783</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">1,044</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">4</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">1,048</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">771</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">75</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">846</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">23</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">24</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 7pt; font-weight: bold; text-align: left; text-indent: -10.1pt; padding-left: 10.1pt">Operating Income Margin</TD><TD STYLE="font-size: 7pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; text-align: right">5.6</TD><TD STYLE="font-size: 7pt; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; text-align: right">22.6</TD><TD STYLE="font-size: 7pt; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; text-align: right">22.6</TD><TD STYLE="font-size: 7pt; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 7pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; text-align: right">19.3</TD><TD STYLE="font-size: 7pt; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; text-align: right">21.1</TD><TD STYLE="font-size: 7pt; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 7pt; text-indent: -10.1pt; padding-left: 10.1pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 7pt; text-align: left; text-indent: -10.1pt; padding-left: 10.1pt">Other income</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">576</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">(576</TD><TD STYLE="font-size: 7pt; text-align: left">)</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&mdash;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&mdash;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&mdash;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&mdash;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&mdash;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&mdash;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&mdash;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&mdash;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 7pt; text-align: left; padding-bottom: 1pt; text-indent: -10.1pt; padding-left: 10.1pt">Provision for income taxes</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">250</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">(10</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">)</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">240</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">2</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">242</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">171</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">3</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">174</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">38</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">%</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">39</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 7pt; font-weight: bold; text-align: left; padding-bottom: 1pt; text-indent: -10.1pt; padding-left: 10.1pt">Net Earnings Attributable to The Est&eacute;e Lauder Companies Inc.</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">557</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">217</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">774</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">2</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">776</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">573</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">72</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">645</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">20</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">20</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 7pt; font-weight: bold; text-align: left; padding-bottom: 1pt; text-indent: -10.1pt; padding-left: 10.1pt">Diluted net earnings attributable to The Est&eacute;e Lauder Companies Inc. per common share</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">1.52</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">.59</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">2.11</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">.01</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">2.12</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">1.55</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">.19</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">1.74</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">21</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">21</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">%</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 17; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%"><IMG SRC="tm206175d1_ex99-1img002.jpg" ALT="">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">&nbsp;</TD><TD STYLE="vertical-align: bottom; width: 33%; text-align: right">Page <B><!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --> </B>of <B>19</B></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Reconciliation of Certain Consolidated Statements of Earnings Accounts Before and After Returns, Charges and Other Adjustments&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-align: left"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-align: left"><FONT STYLE="text-decoration: none"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 7pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="18" STYLE="font-size: 7pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Six Months Ended<BR> December&nbsp;31, 2019</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="font-size: 7pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Six Months Ended<BR> December&nbsp;31, 2018</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 7pt; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 7pt; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 7pt; font-weight: bold; border-bottom: Black 1pt solid"><I>(Unaudited; $ in millions,<BR> except per
    share data and<BR> percentages)</I></TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 7pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">As <BR> Reported</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 7pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Returns/<BR> Charges/<BR> Adjustments</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 7pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Non-GAAP</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 7pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Impact of<BR> foreign<BR> currency<BR> translation</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 7pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Non-GAAP,<BR> Constant<BR> Currency</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 7pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">As <BR> Reported</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 7pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Returns/<BR> Charges/<BR> Adjustments</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 7pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Non-GAAP</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 7pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">% Change<BR> Non-GAAP</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 7pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">% Change<BR> Non-GAAP,<BR> Constant<BR> Currency</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 20%; font-size: 7pt; text-align: left; text-indent: -10.1pt; padding-left: 10.1pt">Net Sales</TD><TD STYLE="width: 1%; font-size: 7pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 7pt; text-align: left">$</TD><TD STYLE="width: 5%; font-size: 7pt; text-align: right">8,519</TD><TD STYLE="width: 1%; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 7pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 7pt; text-align: left">$</TD><TD STYLE="width: 5%; font-size: 7pt; text-align: right">&mdash;</TD><TD STYLE="width: 1%; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 7pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 7pt; text-align: left">$</TD><TD STYLE="width: 5%; font-size: 7pt; text-align: right">8,519</TD><TD STYLE="width: 1%; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 7pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 7pt; text-align: left">$</TD><TD STYLE="width: 5%; font-size: 7pt; text-align: right">62</TD><TD STYLE="width: 1%; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 7pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 7pt; text-align: left">$</TD><TD STYLE="width: 5%; font-size: 7pt; text-align: right">8,581</TD><TD STYLE="width: 1%; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 7pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 7pt; text-align: left">$</TD><TD STYLE="width: 5%; font-size: 7pt; text-align: right">7,529</TD><TD STYLE="width: 1%; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 7pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 7pt; text-align: left">$</TD><TD STYLE="width: 5%; font-size: 7pt; text-align: right">&mdash;</TD><TD STYLE="width: 1%; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 7pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 7pt; text-align: left">$</TD><TD STYLE="width: 5%; font-size: 7pt; text-align: right">7,529</TD><TD STYLE="width: 1%; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 7pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="width: 5%; font-size: 7pt; text-align: right">13</TD><TD STYLE="width: 1%; font-size: 7pt; text-align: left">%</TD><TD STYLE="width: 1%; font-size: 7pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="width: 5%; font-size: 7pt; text-align: right">14</TD><TD STYLE="width: 1%; font-size: 7pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 7pt; padding-bottom: 1pt; text-indent: -10.1pt; padding-left: 10.1pt">Cost of sales</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">1,949</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">(8</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">)</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">1,941</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">15</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">1,956</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">1,733</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">(12</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">)</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">1,721</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 7pt; font-weight: bold; text-align: left; padding-bottom: 1pt; text-indent: -10.1pt; padding-left: 10.1pt">Gross Profit</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">6,570</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">8</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">6,578</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">47</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">6,625</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">5,796</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">12</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">5,808</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">13</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">14</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 7pt; font-weight: bold; text-align: left; text-indent: -10.1pt; padding-left: 10.1pt">Gross Margin</TD><TD STYLE="font-size: 7pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; text-align: right">77.1</TD><TD STYLE="font-size: 7pt; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; text-align: right">77.2</TD><TD STYLE="font-size: 7pt; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; text-align: right">77.2</TD><TD STYLE="font-size: 7pt; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 7pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; text-align: right">77.0</TD><TD STYLE="font-size: 7pt; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; text-align: right">77.1</TD><TD STYLE="font-size: 7pt; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 7pt; text-indent: -10.1pt; padding-left: 10.1pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 7pt; text-align: left; padding-bottom: 1pt; text-indent: -10.1pt; padding-left: 10.1pt">Operating expenses</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">5,530</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">(800</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">)</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">4,730</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">39</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">4,769</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">4,373</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">(99</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">)</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">4,274</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">11</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">%</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">12</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 7pt; text-align: left; padding-bottom: 1pt; text-indent: -10.1pt; padding-left: 10.1pt">Operating Expense Margin</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">64.9</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">%</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">55.5</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">%</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">55.6</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">%</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">58.1</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">%</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">56.8</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">%</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 7pt; font-weight: bold; text-align: left; padding-bottom: 1pt; text-indent: -10.1pt; padding-left: 10.1pt">Operating Income</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">1,040</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">808</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">1,848</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">8</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">1,856</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">1,423</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">111</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">1,534</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">20</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">21</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 7pt; font-weight: bold; text-align: left; text-indent: -10.1pt; padding-left: 10.1pt">Operating Income Margin</TD><TD STYLE="font-size: 7pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; text-align: right">12.2</TD><TD STYLE="font-size: 7pt; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; text-align: right">21.7</TD><TD STYLE="font-size: 7pt; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; text-align: right">21.6</TD><TD STYLE="font-size: 7pt; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 7pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; text-align: right">18.9</TD><TD STYLE="font-size: 7pt; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; text-align: right">20.4</TD><TD STYLE="font-size: 7pt; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 7pt; text-indent: -10.1pt; padding-left: 10.1pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 7pt; text-align: left; text-indent: -10.1pt; padding-left: 10.1pt">Other income</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">576</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">(576</TD><TD STYLE="font-size: 7pt; text-align: left">)</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&mdash;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&mdash;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&mdash;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&mdash;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&mdash;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&mdash;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&mdash;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&mdash;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 7pt; text-align: left; padding-bottom: 1pt; text-indent: -10.1pt; padding-left: 10.1pt">Provision for income taxes</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">412</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">(6</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">)</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">406</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">2</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">408</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">302</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">12</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">314</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">29</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">%</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: right">30</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 7pt; font-weight: bold; text-align: left; padding-bottom: 1pt; text-indent: -10.1pt; padding-left: 10.1pt">Net Earnings Attributable to The Est&eacute;e Lauder Companies Inc.</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">1,152</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">238</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">1,390</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">6</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">1,396</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">1,073</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">99</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">1,172</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">19</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">19</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 7pt; font-weight: bold; text-align: left; padding-bottom: 1pt; text-indent: -10.1pt; padding-left: 10.1pt">Diluted net earnings attributable to The Est&eacute;e Lauder Companies Inc. per common share</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">3.13</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">.65</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">3.78</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">.02</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">3.80</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">2.88</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">.27</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">3.15</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">20</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">%</TD><TD STYLE="font-size: 7pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 7pt; font-weight: bold; text-align: right">21</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; font-weight: bold; text-align: left">%</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-align: left"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-align: left"><FONT STYLE="text-decoration: none"></FONT></P>

<!-- Field: Page; Sequence: 18; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%"><IMG SRC="tm206175d1_ex99-1img002.jpg" ALT="">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">&nbsp;</TD><TD STYLE="vertical-align: bottom; width: 33%; text-align: right">Page <B><!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --> </B>of <B>19</B></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-align: left"><FONT STYLE="text-decoration: none"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">CONDENSED CONSOLIDATED BALANCE SHEETS</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 36.9pt 0pt 0; text-align: left"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 70%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="font-size: 8pt; vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><B><I>(Unaudited; $ in millions)</I></B></TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">December
    31<BR> 2019</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">June
    30<BR> 2019</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">December
    31<BR> 2018</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: center">ASSETS</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Current Assets</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 58%; font-size: 10pt; text-align: left">Cash and cash equivalents</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">3,596</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">2,987</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">1,876</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Short-term investments</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&mdash;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&mdash;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">525</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Accounts receivable, net</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,225</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,831</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Inventory and promotional merchandise</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,058</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,006</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,651</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Prepaid expenses and other current assets</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">469</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">388</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">388</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; text-align: left; padding-bottom: 1pt">Total Current Assets</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">8,348</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">7,212</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">6,440</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Property, Plant and Equipment, net</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,086</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,068</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,859</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Operating lease right-of-use assets (A)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,517</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&mdash;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&mdash;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Other Assets</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">4,986</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">3,876</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">4,377</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; font-size: 10pt; color: #002453; font-weight: bold; text-align: left; padding-bottom: 1pt">Total
    Assets</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">17,937</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">13,156</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">12,676</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: center">LIABILITIES AND EQUITY</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Current Liabilities</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Current debt</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">522</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">516</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">18</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Accounts payable</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,137</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,490</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">995</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Operating lease liabilities (A)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">369</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&mdash;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&mdash;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Other accrued liabilities</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">2,925</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">2,599</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">2,763</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; text-align: left; padding-bottom: 1pt">Total Current Liabilities</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">4,953</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">4,605</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">3,776</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Noncurrent Liabilities</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Long-term debt</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">4,662</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,896</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">3,373</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Long-term operating lease liabilities (A)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,318</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&mdash;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&mdash;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Other noncurrent liabilities</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,403</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,244</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,194</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; text-align: left; padding-bottom: 1pt">Total Noncurrent Liabilities</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">8,383</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">4,140</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">4,567</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total Equity</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">4,601</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">4,411</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">4,333</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; font-size: 10pt; color: #002453; font-weight: bold; text-align: left; padding-bottom: 1pt">Total
    Liabilities and Equity</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">17,937</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">13,156</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">12,676</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 36.9pt 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(A) During the first quarter of fiscal 2020, the Company adopted
Accounting Standards Codification (&ldquo;ASC&rdquo;) Topic 842 &ndash; Leases (&ldquo;ASC 842&rdquo;) using the modified retrospective
transition approach permitted under the new standard for leases that existed at July 1, 2019, and, accordingly, the prior comparative
periods were not restated. The adoption of this standard impacted the Company&rsquo;s consolidated balance sheet due to the recognition
of right-of-use assets and associated lease liabilities related to operating leases as compared to the previous accounting. The
accounting for finance leases under ASC 842 is consistent with the prior accounting for capital leases. The impact of the adoption
of this standard on the Company&rsquo;s consolidated statements of earnings and consolidated statement of cash flows was not material.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<!-- Field: Page; Sequence: 19; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%"><IMG SRC="tm206175d1_ex99-1img002.jpg" ALT="">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">&nbsp;</TD><TD STYLE="vertical-align: bottom; width: 33%; text-align: right">Page <B><!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence --> </B>of <B>19</B></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">SELECT CASH FLOW DATA</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="font-size: 8pt; vertical-align: bottom">
    <TD STYLE="font-size: 8pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-size: 8pt; font-weight: bold; text-align: center">Six Months Ended</TD><TD STYLE="font-size: 8pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="font-size: 8pt; vertical-align: bottom">
    <TD STYLE="font-size: 8pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">December 31</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="font-size: 8pt; vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><B><I>(Unaudited; $ in millions)</I></B></TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">2019</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">2018</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Cash Flows from Operating Activities</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; width: 72%; font-size: 10pt; text-align: left">Net earnings</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">1,159</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">1,079</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; font-size: 10pt; text-align: left">Depreciation and amortization</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">287</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">269</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; font-size: 10pt; text-align: left">Deferred income taxes</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">7</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(46</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; font-size: 10pt; text-align: left">Other items</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">359</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">175</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Changes in operating assets and liabilities:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Increase in accounts receivable, net</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(347</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(343</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Decrease (increase) in inventory and promotional merchandise</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">31</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(21</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Increase in other assets, net</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(120</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(53</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Increase (decrease) in accounts payable and other liabilities</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(121</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">213</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; text-align: left; padding-bottom: 1pt">Net cash flows provided by operating activities</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">1,255</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: #002453; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #002453; font-weight: bold; text-align: right">1,273</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #002453; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-style: italic; text-align: left">Other Investing and Financing Sources/(Uses):</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Capital expenditures</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">(291</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">(292</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Payments for acquired businesses, net of cash acquired</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(1,040</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&mdash;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Proceeds (purchase) of investments, net</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(5</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">257</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Payments to acquire treasury stock</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(813</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(1,126</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Dividends paid</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(330</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(297</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Proceeds (repayments) of current debt, net</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">8</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(169</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Proceeds from issuance of long-term debt, net</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,775</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B># # #</B></P>



<P STYLE="margin: 0"></P>

<P STYLE="margin: 0">&nbsp;</P>

<!-- Field: Page; Sequence: 20; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%"><IMG SRC="tm206175d1_ex99-1img002.jpg" ALT="">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">&nbsp;</TD><TD STYLE="vertical-align: bottom; width: 33%; text-align: right">Page <B><!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence --> </B>of <B>19</B></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.SCH
<SEQUENCE>3
<FILENAME>el-20200205.xsd
<DESCRIPTION>XBRL TAXONOMY EXTENSION SCHEMA
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" ?>
    <!-- Field: Doc-Info; Name: Generator; Value: GoFiler Complete; Version: 5.2a -->
    <!-- Field: Doc-Info; Name: VendorURI; Value: http://www.novaworks.co -->
    <!-- Field: Doc-Info; Name: Status; Value: 0x00000000 -->
    <!-- Field: Doc-Info; Name: Misc; Value: +K85w7xRiXgen8uNbXAsWaqBybPtzp5xKekhuWh1bTnqXyYiCazSyyNkPbL2gR4L -->
<schema xmlns="http://www.w3.org/2001/XMLSchema" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:dei="http://xbrl.sec.gov/dei/2019-01-31" xmlns:us-gaap="http://fasb.org/us-gaap/2019-01-31" xmlns:srt="http://fasb.org/srt/2019-01-31" xmlns:srt-types="http://fasb.org/srt-types/2019-01-31" xmlns:el="http://elcompanies.com/20200205" elementFormDefault="qualified" targetNamespace="http://elcompanies.com/20200205">
    <annotation>
      <appinfo>
	<link:roleType roleURI="http://elcompanies.com/role/Cover" id="Cover">
	  <link:definition>00000001 - Document - Cover</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:linkbaseRef xlink:type="simple" xlink:href="el-20200205_pre.xml" xlink:role="http://www.xbrl.org/2003/role/presentationLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:title="Presentation Links" />
	<link:linkbaseRef xlink:type="simple" xlink:href="el-20200205_lab.xml" xlink:role="http://www.xbrl.org/2003/role/labelLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:title="Label Links" />
      </appinfo>
    </annotation>
    <import namespace="http://www.xbrl.org/2003/instance" schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd" />
    <import namespace="http://www.xbrl.org/2003/linkbase" schemaLocation="http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" />
    <import namespace="http://xbrl.sec.gov/dei/2019-01-31" schemaLocation="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd" />
    <import namespace="http://fasb.org/us-gaap/2019-01-31" schemaLocation="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd" />
    <import namespace="http://fasb.org/us-types/2019-01-31" schemaLocation="http://xbrl.fasb.org/us-gaap/2019/elts/us-types-2019-01-31.xsd" />
    <import namespace="http://www.xbrl.org/dtr/type/non-numeric" schemaLocation="http://www.xbrl.org/dtr/type/nonNumeric-2009-12-16.xsd" />
    <import namespace="http://www.xbrl.org/dtr/type/numeric" schemaLocation="http://www.xbrl.org/dtr/type/numeric-2009-12-16.xsd" />
    <import namespace="http://xbrl.sec.gov/country/2017-01-31" schemaLocation="https://xbrl.sec.gov/country/2017/country-2017-01-31.xsd" />
    <import namespace="http://fasb.org/srt/2019-01-31" schemaLocation="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd" />
    <import namespace="http://fasb.org/srt-types/2019-01-31" schemaLocation="http://xbrl.fasb.org/srt/2019/elts/srt-types-2019-01-31.xsd" />
</schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>4
<FILENAME>el-20200205_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABEL LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
    <!-- Field: Doc-Info; Name: Generator; Value: GoFiler Complete; Version: 5.2a -->
    <!-- Field: Doc-Info; Name: VendorURI; Value: http://www.novaworks.co -->
    <!-- Field: Doc-Info; Name: Status; Value: 0x00000000 -->
<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrli="http://www.xbrl.org/2003/instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel" roleURI="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodEndLabel" roleURI="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel" roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel" roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedNetLabel" roleURI="http://www.xbrl.org/2009/role/negatedNetLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel" roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd#netLabel" roleURI="http://www.xbrl.org/2009/role/netLabel" />
    <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_CoverAbstract" xlink:label="dei_CoverAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CoverAbstract" xlink:to="dei_CoverAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CoverAbstract_lbl" xml:lang="en-US">Cover [Abstract]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentType" xlink:label="dei_DocumentType" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentType" xlink:to="dei_DocumentType_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentType_lbl" xml:lang="en-US">Document Type</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_AmendmentFlag" xlink:label="dei_AmendmentFlag" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="dei_AmendmentFlag_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AmendmentFlag_lbl" xml:lang="en-US">Amendment Flag</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_AmendmentDescription" xlink:label="dei_AmendmentDescription" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentDescription" xlink:to="dei_AmendmentDescription_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AmendmentDescription_lbl" xml:lang="en-US">Amendment Description</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentRegistrationStatement" xlink:label="dei_DocumentRegistrationStatement" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentRegistrationStatement" xlink:to="dei_DocumentRegistrationStatement_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentRegistrationStatement_lbl" xml:lang="en-US">Document Registration Statement</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentAnnualReport" xlink:label="dei_DocumentAnnualReport" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentAnnualReport" xlink:to="dei_DocumentAnnualReport_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentAnnualReport_lbl" xml:lang="en-US">Document Annual Report</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentQuarterlyReport" xlink:label="dei_DocumentQuarterlyReport" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentQuarterlyReport" xlink:to="dei_DocumentQuarterlyReport_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentQuarterlyReport_lbl" xml:lang="en-US">Document Quarterly Report</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentTransitionReport" xlink:label="dei_DocumentTransitionReport" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentTransitionReport" xlink:to="dei_DocumentTransitionReport_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentTransitionReport_lbl" xml:lang="en-US">Document Transition Report</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentShellCompanyReport" xlink:label="dei_DocumentShellCompanyReport" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentShellCompanyReport" xlink:to="dei_DocumentShellCompanyReport_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentShellCompanyReport_lbl" xml:lang="en-US">Document Shell Company Report</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentShellCompanyEventDate" xlink:label="dei_DocumentShellCompanyEventDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentShellCompanyEventDate" xlink:to="dei_DocumentShellCompanyEventDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentShellCompanyEventDate_lbl" xml:lang="en-US">Document Shell Company Event Date</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentPeriodStartDate" xlink:label="dei_DocumentPeriodStartDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodStartDate" xlink:to="dei_DocumentPeriodStartDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentPeriodStartDate_lbl" xml:lang="en-US">Document Period Start Date</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="dei_DocumentPeriodEndDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentPeriodEndDate_lbl" xml:lang="en-US">Document Period End Date</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="dei_DocumentFiscalPeriodFocus" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalPeriodFocus" xlink:to="dei_DocumentFiscalPeriodFocus_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalPeriodFocus_lbl" xml:lang="en-US">Document Fiscal Period Focus</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="dei_DocumentFiscalYearFocus" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalYearFocus" xlink:to="dei_DocumentFiscalYearFocus_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalYearFocus_lbl" xml:lang="en-US">Document Fiscal Year Focus</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="dei_CurrentFiscalYearEndDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CurrentFiscalYearEndDate" xlink:to="dei_CurrentFiscalYearEndDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xml:lang="en-US">Current Fiscal Year End Date</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityFileNumber" xlink:label="dei_EntityFileNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFileNumber" xlink:to="dei_EntityFileNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityFileNumber_lbl" xml:lang="en-US">Entity File Number</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityRegistrantName" xlink:label="dei_EntityRegistrantName" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityRegistrantName_lbl" xml:lang="en-US">Entity Registrant Name</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="dei_EntityCentralIndexKey" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCentralIndexKey_lbl" xml:lang="en-US">Entity Central Index Key</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityPrimarySicNumber" xlink:label="dei_EntityPrimarySicNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityPrimarySicNumber" xlink:to="dei_EntityPrimarySicNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityPrimarySicNumber_lbl" xml:lang="en-US">Entity Primary SIC Number</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityTaxIdentificationNumber" xlink:label="dei_EntityTaxIdentificationNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityTaxIdentificationNumber" xlink:to="dei_EntityTaxIdentificationNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityTaxIdentificationNumber_lbl" xml:lang="en-US">Entity Tax Identification Number</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityIncorporationStateCountryCode" xlink:label="dei_EntityIncorporationStateCountryCode" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityIncorporationStateCountryCode" xlink:to="dei_EntityIncorporationStateCountryCode_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityIncorporationStateCountryCode_lbl" xml:lang="en-US">Entity Incorporation, State or Country Code</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressAddressLine1" xlink:label="dei_EntityAddressAddressLine1" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine1" xlink:to="dei_EntityAddressAddressLine1_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressAddressLine1_lbl" xml:lang="en-US">Entity Address, Address Line One</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressAddressLine2" xlink:label="dei_EntityAddressAddressLine2" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine2" xlink:to="dei_EntityAddressAddressLine2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressAddressLine2_lbl" xml:lang="en-US">Entity Address, Address Line Two</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressAddressLine3" xlink:label="dei_EntityAddressAddressLine3" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine3" xlink:to="dei_EntityAddressAddressLine3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressAddressLine3_lbl" xml:lang="en-US">Entity Address, Address Line Three</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressCityOrTown" xlink:label="dei_EntityAddressCityOrTown" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCityOrTown" xlink:to="dei_EntityAddressCityOrTown_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressCityOrTown_lbl" xml:lang="en-US">Entity Address, City or Town</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressStateOrProvince" xlink:label="dei_EntityAddressStateOrProvince" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressStateOrProvince" xlink:to="dei_EntityAddressStateOrProvince_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressStateOrProvince_lbl" xml:lang="en-US">Entity Address, State or Province</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressCountry" xlink:label="dei_EntityAddressCountry" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCountry" xlink:to="dei_EntityAddressCountry_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressCountry_lbl" xml:lang="en-US">Entity Address, Country</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressPostalZipCode" xlink:label="dei_EntityAddressPostalZipCode" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressPostalZipCode" xlink:to="dei_EntityAddressPostalZipCode_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressPostalZipCode_lbl" xml:lang="en-US">Entity Address, Postal Zip Code</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_CountryRegion" xlink:label="dei_CountryRegion" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CountryRegion" xlink:to="dei_CountryRegion_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CountryRegion_lbl" xml:lang="en-US">Country Region</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_CityAreaCode" xlink:label="dei_CityAreaCode" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CityAreaCode" xlink:to="dei_CityAreaCode_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CityAreaCode_lbl" xml:lang="en-US">City Area Code</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LocalPhoneNumber" xlink:label="dei_LocalPhoneNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LocalPhoneNumber" xlink:to="dei_LocalPhoneNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_LocalPhoneNumber_lbl" xml:lang="en-US">Local Phone Number</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_Extension" xlink:label="dei_Extension" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Extension" xlink:to="dei_Extension_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_Extension_lbl" xml:lang="en-US">Extension</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_WrittenCommunications" xlink:label="dei_WrittenCommunications" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_WrittenCommunications" xlink:to="dei_WrittenCommunications_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_WrittenCommunications_lbl" xml:lang="en-US">Written Communications</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_SolicitingMaterial" xlink:label="dei_SolicitingMaterial" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SolicitingMaterial" xlink:to="dei_SolicitingMaterial_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_SolicitingMaterial_lbl" xml:lang="en-US">Soliciting Material</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_PreCommencementTenderOffer" xlink:label="dei_PreCommencementTenderOffer" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_PreCommencementTenderOffer" xlink:to="dei_PreCommencementTenderOffer_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_PreCommencementTenderOffer_lbl" xml:lang="en-US">Pre-commencement Tender Offer</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_PreCommencementIssuerTenderOffer" xlink:label="dei_PreCommencementIssuerTenderOffer" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_PreCommencementIssuerTenderOffer" xlink:to="dei_PreCommencementIssuerTenderOffer_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_PreCommencementIssuerTenderOffer_lbl" xml:lang="en-US">Pre-commencement Issuer Tender Offer</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_Security12bTitle" xlink:label="dei_Security12bTitle" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Security12bTitle" xlink:to="dei_Security12bTitle_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_Security12bTitle_lbl" xml:lang="en-US">Title of 12(b) Security</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_NoTradingSymbolFlag" xlink:label="dei_NoTradingSymbolFlag" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_NoTradingSymbolFlag" xlink:to="dei_NoTradingSymbolFlag_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_NoTradingSymbolFlag_lbl" xml:lang="en-US">No Trading Symbol Flag</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_TradingSymbol" xlink:label="dei_TradingSymbol" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_TradingSymbol" xlink:to="dei_TradingSymbol_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_TradingSymbol_lbl" xml:lang="en-US">Trading Symbol</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_SecurityExchangeName" xlink:label="dei_SecurityExchangeName" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SecurityExchangeName" xlink:to="dei_SecurityExchangeName_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_SecurityExchangeName_lbl" xml:lang="en-US">Security Exchange Name</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_Security12gTitle" xlink:label="dei_Security12gTitle" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Security12gTitle" xlink:to="dei_Security12gTitle_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_Security12gTitle_lbl" xml:lang="en-US">Title of 12(g) Security</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_SecurityReportingObligation" xlink:label="dei_SecurityReportingObligation" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SecurityReportingObligation" xlink:to="dei_SecurityReportingObligation_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_SecurityReportingObligation_lbl" xml:lang="en-US">Security Reporting Obligation</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_AnnualInformationForm" xlink:label="dei_AnnualInformationForm" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AnnualInformationForm" xlink:to="dei_AnnualInformationForm_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AnnualInformationForm_lbl" xml:lang="en-US">Annual Information Form</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_AuditedAnnualFinancialStatements" xlink:label="dei_AuditedAnnualFinancialStatements" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AuditedAnnualFinancialStatements" xlink:to="dei_AuditedAnnualFinancialStatements_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AuditedAnnualFinancialStatements_lbl" xml:lang="en-US">Audited Annual Financial Statements</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="dei_EntityWellKnownSeasonedIssuer" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityWellKnownSeasonedIssuer" xlink:to="dei_EntityWellKnownSeasonedIssuer_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityWellKnownSeasonedIssuer_lbl" xml:lang="en-US">Entity Well-known Seasoned Issuer</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityVoluntaryFilers" xlink:label="dei_EntityVoluntaryFilers" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityVoluntaryFilers" xlink:to="dei_EntityVoluntaryFilers_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityVoluntaryFilers_lbl" xml:lang="en-US">Entity Voluntary Filers</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityCurrentReportingStatus" xlink:label="dei_EntityCurrentReportingStatus" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCurrentReportingStatus" xlink:to="dei_EntityCurrentReportingStatus_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCurrentReportingStatus_lbl" xml:lang="en-US">Entity Current Reporting Status</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityInteractiveDataCurrent" xlink:label="dei_EntityInteractiveDataCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityInteractiveDataCurrent" xlink:to="dei_EntityInteractiveDataCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityInteractiveDataCurrent_lbl" xml:lang="en-US">Entity Interactive Data Current</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityFilerCategory" xlink:label="dei_EntityFilerCategory" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFilerCategory" xlink:to="dei_EntityFilerCategory_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityFilerCategory_lbl" xml:lang="en-US">Entity Filer Category</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntitySmallBusiness" xlink:label="dei_EntitySmallBusiness" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntitySmallBusiness" xlink:to="dei_EntitySmallBusiness_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntitySmallBusiness_lbl" xml:lang="en-US">Entity Small Business</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityEmergingGrowthCompany" xlink:label="dei_EntityEmergingGrowthCompany" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityEmergingGrowthCompany" xlink:to="dei_EntityEmergingGrowthCompany_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityEmergingGrowthCompany_lbl" xml:lang="en-US">Entity Emerging Growth Company</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityExTransitionPeriod" xlink:label="dei_EntityExTransitionPeriod" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityExTransitionPeriod" xlink:to="dei_EntityExTransitionPeriod_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityExTransitionPeriod_lbl" xml:lang="en-US">Elected Not To Use the Extended Transition Period</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentAccountingStandard" xlink:label="dei_DocumentAccountingStandard" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentAccountingStandard" xlink:to="dei_DocumentAccountingStandard_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentAccountingStandard_lbl" xml:lang="en-US">Document Accounting Standard</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_OtherReportingStandardItemNumber" xlink:label="dei_OtherReportingStandardItemNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_OtherReportingStandardItemNumber" xlink:to="dei_OtherReportingStandardItemNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_OtherReportingStandardItemNumber_lbl" xml:lang="en-US">Other Reporting Standard Item Number</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityShellCompany" xlink:label="dei_EntityShellCompany" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityShellCompany" xlink:to="dei_EntityShellCompany_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityShellCompany_lbl" xml:lang="en-US">Entity Shell Company</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityPublicFloat" xlink:label="dei_EntityPublicFloat" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityPublicFloat" xlink:to="dei_EntityPublicFloat_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityPublicFloat_lbl" xml:lang="en-US">Entity Public Float</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityBankruptcyProceedingsReportingCurrent" xlink:label="dei_EntityBankruptcyProceedingsReportingCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityBankruptcyProceedingsReportingCurrent" xlink:to="dei_EntityBankruptcyProceedingsReportingCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityBankruptcyProceedingsReportingCurrent_lbl" xml:lang="en-US">Entity Bankruptcy Proceedings, Reporting Current</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="dei_EntityCommonStockSharesOutstanding" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCommonStockSharesOutstanding" xlink:to="dei_EntityCommonStockSharesOutstanding_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCommonStockSharesOutstanding_lbl" xml:lang="en-US">Entity Common Stock, Shares Outstanding</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentsIncorporatedByReferenceTextBlock" xlink:label="dei_DocumentsIncorporatedByReferenceTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentsIncorporatedByReferenceTextBlock" xlink:to="dei_DocumentsIncorporatedByReferenceTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentsIncorporatedByReferenceTextBlock_lbl" xml:lang="en-US">Documents Incorporated by Reference [Text Block]</link:label>
    </link:labelLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>5
<FILENAME>el-20200205_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
    <!-- Field: Doc-Info; Name: Generator; Value: GoFiler Complete; Version: 5.2a -->
    <!-- Field: Doc-Info; Name: VendorURI; Value: http://www.novaworks.co -->
    <!-- Field: Doc-Info; Name: Status; Value: 0x00000000 -->
<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrli="http://www.xbrl.org/2003/instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
    <link:roleRef roleURI="http://elcompanies.com/role/Cover" xlink:href="el-20200205.xsd#Cover" xlink:type="simple" />
    <link:presentationLink xlink:type="extended" xlink:role="http://elcompanies.com/role/Cover" xlink:title="00000001 - Document - Cover">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_CoverAbstract" xlink:label="loc_deiCoverAbstract" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentType" xlink:label="loc_deiDocumentType" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentType" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_AmendmentFlag" xlink:label="loc_deiAmendmentFlag" />
      <link:presentationArc order="10" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiAmendmentFlag" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_AmendmentDescription" xlink:label="loc_deiAmendmentDescription" />
      <link:presentationArc order="20" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiAmendmentDescription" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentRegistrationStatement" xlink:label="loc_deiDocumentRegistrationStatement" />
      <link:presentationArc order="30" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentRegistrationStatement" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentAnnualReport" xlink:label="loc_deiDocumentAnnualReport" />
      <link:presentationArc order="40" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentAnnualReport" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentQuarterlyReport" xlink:label="loc_deiDocumentQuarterlyReport" />
      <link:presentationArc order="50" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentQuarterlyReport" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentTransitionReport" xlink:label="loc_deiDocumentTransitionReport" />
      <link:presentationArc order="60" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentTransitionReport" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentShellCompanyReport" xlink:label="loc_deiDocumentShellCompanyReport" />
      <link:presentationArc order="70" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentShellCompanyReport" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentShellCompanyEventDate" xlink:label="loc_deiDocumentShellCompanyEventDate" />
      <link:presentationArc order="80" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentShellCompanyEventDate" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentPeriodStartDate" xlink:label="loc_deiDocumentPeriodStartDate" />
      <link:presentationArc order="90" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentPeriodStartDate" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="loc_deiDocumentPeriodEndDate" />
      <link:presentationArc order="100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentPeriodEndDate" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="loc_deiDocumentFiscalPeriodFocus" />
      <link:presentationArc order="110" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentFiscalPeriodFocus" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="loc_deiDocumentFiscalYearFocus" />
      <link:presentationArc order="120" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentFiscalYearFocus" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="loc_deiCurrentFiscalYearEndDate" />
      <link:presentationArc order="130" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiCurrentFiscalYearEndDate" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityFileNumber" xlink:label="loc_deiEntityFileNumber" />
      <link:presentationArc order="140" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityFileNumber" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityRegistrantName" xlink:label="loc_deiEntityRegistrantName" />
      <link:presentationArc order="150" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityRegistrantName" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="loc_deiEntityCentralIndexKey" />
      <link:presentationArc order="160" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityCentralIndexKey" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityPrimarySicNumber" xlink:label="loc_deiEntityPrimarySicNumber" />
      <link:presentationArc order="170" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityPrimarySicNumber" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityTaxIdentificationNumber" xlink:label="loc_deiEntityTaxIdentificationNumber" />
      <link:presentationArc order="180" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityTaxIdentificationNumber" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityIncorporationStateCountryCode" xlink:label="loc_deiEntityIncorporationStateCountryCode" />
      <link:presentationArc order="190" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityIncorporationStateCountryCode" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressAddressLine1" xlink:label="loc_deiEntityAddressAddressLine1" />
      <link:presentationArc order="200" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityAddressAddressLine1" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressAddressLine2" xlink:label="loc_deiEntityAddressAddressLine2" />
      <link:presentationArc order="210" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityAddressAddressLine2" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressAddressLine3" xlink:label="loc_deiEntityAddressAddressLine3" />
      <link:presentationArc order="220" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityAddressAddressLine3" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressCityOrTown" xlink:label="loc_deiEntityAddressCityOrTown" />
      <link:presentationArc order="230" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityAddressCityOrTown" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressStateOrProvince" xlink:label="loc_deiEntityAddressStateOrProvince" />
      <link:presentationArc order="240" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityAddressStateOrProvince" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressCountry" xlink:label="loc_deiEntityAddressCountry" />
      <link:presentationArc order="250" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityAddressCountry" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressPostalZipCode" xlink:label="loc_deiEntityAddressPostalZipCode" />
      <link:presentationArc order="260" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityAddressPostalZipCode" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_CountryRegion" xlink:label="loc_deiCountryRegion" />
      <link:presentationArc order="270" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiCountryRegion" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_CityAreaCode" xlink:label="loc_deiCityAreaCode" />
      <link:presentationArc order="280" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiCityAreaCode" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LocalPhoneNumber" xlink:label="loc_deiLocalPhoneNumber" />
      <link:presentationArc order="290" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiLocalPhoneNumber" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_Extension" xlink:label="loc_deiExtension" />
      <link:presentationArc order="300" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiExtension" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_WrittenCommunications" xlink:label="loc_deiWrittenCommunications" />
      <link:presentationArc order="310" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiWrittenCommunications" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_SolicitingMaterial" xlink:label="loc_deiSolicitingMaterial" />
      <link:presentationArc order="320" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiSolicitingMaterial" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_PreCommencementTenderOffer" xlink:label="loc_deiPreCommencementTenderOffer" />
      <link:presentationArc order="330" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiPreCommencementTenderOffer" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_PreCommencementIssuerTenderOffer" xlink:label="loc_deiPreCommencementIssuerTenderOffer" />
      <link:presentationArc order="340" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiPreCommencementIssuerTenderOffer" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_Security12bTitle" xlink:label="loc_deiSecurity12bTitle" />
      <link:presentationArc order="350" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiSecurity12bTitle" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_NoTradingSymbolFlag" xlink:label="loc_deiNoTradingSymbolFlag" />
      <link:presentationArc order="360" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiNoTradingSymbolFlag" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_TradingSymbol" xlink:label="loc_deiTradingSymbol" />
      <link:presentationArc order="370" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiTradingSymbol" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_SecurityExchangeName" xlink:label="loc_deiSecurityExchangeName" />
      <link:presentationArc order="380" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiSecurityExchangeName" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_Security12gTitle" xlink:label="loc_deiSecurity12gTitle" />
      <link:presentationArc order="390" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiSecurity12gTitle" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_SecurityReportingObligation" xlink:label="loc_deiSecurityReportingObligation" />
      <link:presentationArc order="400" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiSecurityReportingObligation" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_AnnualInformationForm" xlink:label="loc_deiAnnualInformationForm" />
      <link:presentationArc order="410" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiAnnualInformationForm" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_AuditedAnnualFinancialStatements" xlink:label="loc_deiAuditedAnnualFinancialStatements" />
      <link:presentationArc order="420" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiAuditedAnnualFinancialStatements" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="loc_deiEntityWellKnownSeasonedIssuer" />
      <link:presentationArc order="430" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityWellKnownSeasonedIssuer" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityVoluntaryFilers" xlink:label="loc_deiEntityVoluntaryFilers" />
      <link:presentationArc order="440" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityVoluntaryFilers" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityCurrentReportingStatus" xlink:label="loc_deiEntityCurrentReportingStatus" />
      <link:presentationArc order="450" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityCurrentReportingStatus" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityInteractiveDataCurrent" xlink:label="loc_deiEntityInteractiveDataCurrent" />
      <link:presentationArc order="460" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityInteractiveDataCurrent" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityFilerCategory" xlink:label="loc_deiEntityFilerCategory" />
      <link:presentationArc order="470" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityFilerCategory" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntitySmallBusiness" xlink:label="loc_deiEntitySmallBusiness" />
      <link:presentationArc order="480" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntitySmallBusiness" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityEmergingGrowthCompany" xlink:label="loc_deiEntityEmergingGrowthCompany" />
      <link:presentationArc order="490" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityEmergingGrowthCompany" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityExTransitionPeriod" xlink:label="loc_deiEntityExTransitionPeriod" />
      <link:presentationArc order="500" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityExTransitionPeriod" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentAccountingStandard" xlink:label="loc_deiDocumentAccountingStandard" />
      <link:presentationArc order="510" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentAccountingStandard" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_OtherReportingStandardItemNumber" xlink:label="loc_deiOtherReportingStandardItemNumber" />
      <link:presentationArc order="520" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiOtherReportingStandardItemNumber" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityShellCompany" xlink:label="loc_deiEntityShellCompany" />
      <link:presentationArc order="530" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityShellCompany" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityPublicFloat" xlink:label="loc_deiEntityPublicFloat" />
      <link:presentationArc order="540" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityPublicFloat" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityBankruptcyProceedingsReportingCurrent" xlink:label="loc_deiEntityBankruptcyProceedingsReportingCurrent" />
      <link:presentationArc order="550" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityBankruptcyProceedingsReportingCurrent" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="loc_deiEntityCommonStockSharesOutstanding" />
      <link:presentationArc order="560" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityCommonStockSharesOutstanding" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentsIncorporatedByReferenceTextBlock" xlink:label="loc_deiDocumentsIncorporatedByReferenceTextBlock" />
      <link:presentationArc order="570" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentsIncorporatedByReferenceTextBlock" xlink:type="arc" />
    </link:presentationLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>6
<FILENAME>tm206175d1_ex99-1img001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 tm206175d1_ex99-1img001.jpg
M_]C_X  02D9)1@ ! 0$ > !X  #_VP!#  ," @," @,# P,$ P,$!0@%!00$
M!0H'!P8(# H,# L*"PL-#A(0#0X1#@L+$!80$1,4%145# \7&!84&!(4%13_
MVP!# 0,$! 4$!0D%!0D4#0L-%!04%!04%!04%!04%!04%!04%!04%!04%!04
M%!04%!04%!04%!04%!04%!04%!04%!3_P  1" "5 / # 2(  A$! Q$!_\0
M'P   04! 0$! 0$           $" P0%!@<("0H+_\0 M1   @$# P($ P4%
M! 0   %] 0(#  01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T? D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0 'P$  P$! 0$!
M 0$! 0        $" P0%!@<("0H+_\0 M1$  @$"! 0#! <%! 0  0)W  $"
M Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O 58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H # ,!  (1 Q$ /P#]4Z*** "B
MBB@ HHHH **** "BBB@ HHHH **@O+V#3K.>ZN94@MH$:6661MJHBC)8GL
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M/BMI6C?$+P?9S:GJ^@6[VU_IUJ";B:UW;UDB Y9HVW94<D-QR,'ZR^&OP+\
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M:X.()/\ =/\ *OR(_P""8W@;PQ\1/CGXTL?%/A_2_$5I'HTD\-OJEHEPB/\
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MF#3X]4.GOP[VSNZ!U_O89""!TRN>HKYV^#/P _:&\)_%[2?$GCWXUQ^*_#4
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M]*\J/Q([Y;,^7O\ @E/:B#]DVUD_Y[ZU>R?D47_V6OF?]HFW6/\ X*J>&O\
MIIK>@N?^^(1_2OJ'_@EB,?LBZ1_V%+__ -&U\Q?M$,)O^"JWAA5ZKK.@@_\
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M9_\ ^"G^OW/B-AI^G7VO7UK-/*,*D-Z"\$A)QA=SQ$MT SZ5^N&ZOE+]M/\
M89TS]IR"#7]%O(-!\=V</D)=3J3;WT(R5BG Y!!)VN 2,D$$8QY+\*_B_P#M
M1?LV:7;>$_'?PBU3XE:)8+Y5IJNCS">XCA4# ,L8<2*%Z;U5NQ)QPZ_+CH0J
M4VN=*S3=MNJ%2YL-*4)KW6[IGZ#YKP']N;XL6/PG_9E\9W5S+&+[5[*31K"W
M?DS37"F,@#OM0NY]EKSF3]N'XC^);41>#OV:?'-[>R,8UDU@"SMXVQP6;:1C
M/J5^M,\ _LP_$'XV?$W3/B7^T3<Z?)_9#>9H7@/3&WV5B^00\QR0[ A3C+9(
M&3@!:Y*=#V,E.N[)=+J[\O\ ASHE4]HN6GN^O0]4_8C^&-Q\)?V8? ^AWUL;
M35)+5M0O8F!#++.[2[6'9@K*I]UKX0^/5UM_X*M:(0<;-?T),_6&#_&OUAYQ
M7YC?M'_ 'XOZA^W#<?$_PM\.+_Q'HFG:GIE];LMU;PK=_9HH=R@L^5!:,KDK
M^%=> JJ5>I.HTN9/RU9SXJ#C2A&*O9H_3JBOEH?M-_';;_R:WK(/_8SV?_Q-
M5+_X^?M,>(H3;^'?V=+?0[W#$W/B'Q+!)"..,+'M).>V:\_ZM/NO_ E_F=GM
MH^?W,]>_:0^/6B_L[_"K5_%>JS1F[2-HM,L68;[V[(/EQJ,Y(SRQ[*":^'?^
M"7_[/>K>)/&>H_'#Q5#)Y1:=-(DF7!N[F8G[1= ?W0"Z ]R[_P!VO3='_8/\
M;_'#X@6OC7]H[QG!K_V4YMO"VA%DLXESGRRY"[4.!N"#<W=Z^W=+TJST/3;7
M3]/M8;*QM8UA@MK>,)'$BC"JJC@ #L*ZW5AAJ,J-)WE+=]+=D<_LY5JBJ35D
MME^I\<_\%8_^38=/_P"QEL__ $5/7:_\$W)C-^Q[X*W'.V2^0?07DU8/_!2?
MX7^//B_\)/#GA_P-X=G\13#6EN[R*WDC1HXTAD"M\[*,;G X]:\S_9R\3?M'
M?L]_!O2_ MO^SU<:TVGRW$D5]-KMO"&$LK289 3T+D<'H*UBE5P$:<9+FYKV
M;2_,R;<,4YM.UNQ^@M)FOBK4/VA_VNY+=ULOV=M-M93]V2;54F _X")5S^=?
M3OP3UOQEXB^%^@ZE\0=)@T+QC<1.VHZ=;+B.!_,8*H^=_P"$*?O'K^%>94H2
MI14FU\FG^1W0JJ;LD_N/S0_9%UB.;_@I?XBE4@I>ZCKR*?7YI&_]DK]!OVHO
MV;M#_:8^&=SX=U'R[36+?=/H^K%,M97&.#QR4;[K+W'N 1\/_LM_LL_%GP+^
MVG9>,M?\%WNG>&5U/5IGU*2>!D"2QW C8A9"WS%U[=Z_4'%>GF%51KPJ49:J
M*V.+!TVZ4H5%NV?EA^Q!^TIK/[,'Q*O_ ('_ !3WZ9H_VYK:VDN<XTN\9A@;
MO^?>7(8-T!8-P&8C]4%KXN_X*)_L=R?&[PNOC;PAIWVCQWH\.R6T@4;]5M >
M8\ ?-*F24]067NN-_P#8(\<?%1/!*^!OBKX-\0:3>:/"HTK7-2M7"W=L.!%*
MYSB5. "?O+CNIS&+5/$TUBJ;2E]I>?=%T.>C/V,M5T?Z'UG124M>.>@%--.I
MIH AOK^VTNSENKRXBM+6%=\DT[A$1?4L3@#ZUFZ1XR\/^(KAX-*US3=3G1=[
M16=W'*RKZD*Q('O7RY\&K:#]K+XQ_$?QAXQC;6?!WA'6G\.^&?#MT-U@DD(_
M?WDD1^665B0 7!V@X'8U[]>? ?X?WGB+0]?'A#2;36]%G%Q8W]E:K;S1,%*X
M+1@;EP?NMD=.,@5T3IQIOED]3&,Y35UL=[Q3)KB*UADEF=8HHU+/([ *H'4D
MGH*?BODW3U_X::_:U\>Z%XCD-W\/_AI'9V\'APR'[-?ZC,ID-Q<ITE$85E5&
M^4$9Q44Z?/=O9:LN4N6RZL^FM*\;>'M>NEMM,UW3-1N60R"&TO(Y7*CJ<*Q.
M/>MG->=>//@#X%^(/AE]'O?#UC9%(MEG?Z; MK=6#C[DEO+& T;*<$;2!QSD
M<5YY^P_\7M<^*/PLU33O%=Z=2\4^$-:NO#M_?LFUKOR2/+F8#C<R$9QU()[T
M_9\T'./3?YBYFI*+ZGT14<,T<X)C=9 I*DJP."#@CZ@U+7Q?^RO\5M<T'XU>
M)?#WB>=9/#OQ(O\ 4O$_@^]P51C'<O%/:\]&,<<4H7T+'O1"DZD92704I\K2
M?4^S))%AC9W8(BC+,QP !U)-/7#+D'(/(-?*G[?WC?69/@]XN\&>%)VAU,Z!
M<:UK-S$"6M=-C.WRQCH\[YC'^PDQ_AKZ,^'NL1>(? /AG5859(;[3+:Z16ZA
M7B5@#^!H=)QIJH^HU-.;CV-R:9((WDD=8XU&69C@ >I)JE;^(=+NKP6L.I6<
MUUC/D1W",_\ WR#FN*_:.MA=?L^_$J$G ?PYJ S_ -N[U\HW</P?B_8-\,IK
M%OH+^+[SPA;?V7'IR1G6)M3^S#R3"(OWS2"4KDCISNXS5TZ/M(IWZV(G4Y96
M\KGWG]ZCI7 _ &U\46/P3\#V_C62:7Q9'I%LNIM<-NE,_EC=O/=O7WS5CXR>
M.+CP!X"OM0TZ(76NW+1Z?I%H?^6]].PC@3'IO8,WHJL>U8\OO\B->;W>9G9P
MSQW";HG61,D;E((R#@C(]""/PI]?*_[)#:E\&_B+X_\ @9XAU2XU:?3Y%\3:
M'J5V,27UE='-P?JESOSCO(:^J*JI3]G+EO=$PESQN1"YB^T>1YB>?MW^7N&[
M;G&<=<9[U(S!023@#J:^3_VH/"_C[6OC[X0U?X9ZJEAXQ\.^%]0U.VL;C_CV
MU:,7=HDEG-S]UU;@]F"G(ZCTGX3?M!:)^T!\)==U2Q@FTC7=.MY[36O#]Y\M
MUIETL;;HY%.#C(.UL<@=B"!;HM051.Z>_D)5%S.+/989H[F)98G66-AE71@5
M/N"*))5AC9W9411EF8X 'J37DG[(>E_V/^R]\++3);;X=LWR3S\T2M_[-6Q^
MT@I;]GOXF@'!/AG4N?\ MVDK/D_><GG8KF]SF/0XIDFC62)UD1AE64Y!'J#2
M33);QM)(ZQQJ,LSG  ]2:\C_ &/\_P##+/PHR<G_ (1NR_\ 1*U8_:SR/V8?
MBL1U_P"$9U C'7/D/3]G^]]G?K87-[G/Y'I2:YITC!5U"U9F(4*LZDDG@#K5
MT'BOD#]GN/\ 9PO?#/PRLTM/"-WX[CL+!8I/L(-T;Y8D8D.4SY@=2<YSD5]?
MFG5I^SERZ_-6%3DYQN9FM^*=&\-+$^KZM8Z4LV1&U]<I"'QUQN(SBM&&9+B-
M)8G62)P&5U((8'D$'N*^)U\?>!?A_P#M,?$W3OCYI=M;W&O7L)\+:_XDLQ<:
M9)I8A55M8I'4I"0_F%QQN+'<<@5];?#;PGX=\#^"=*T;PE'#%X;MXV:Q2WF\
MV(1N[2#8V3E<N<<XQ@#BG4I>S2OU^X(3YFSIJ***P-0I/PI:* /D'X:R?\,=
M_%WXC:1XL@N++X:^,-6;Q!HGB=8GDLK*>4?O[2Z8 ^0<@%7;"L!USP/>-.^/
MW@?Q!KVGZ+X?UE?$^HWD@3R]#C:[6W4KN\R>1 4B3'=R,YP 3Q7HC+NZ]*:L
M:H"%4*/11BMZE15'S26IE&#AHGH/KY5ET_4/V:?VH_&GC6_TZ[N_AK\0K>UD
MO=6LK=I_['U"!2@^T(@++"ZDGS,85C\V.M?50HQ4TZG)=;IJS*E'FL^J/*/&
M'[3'@;PWH*W6E:K'XPU>ZA\S3=#\.'[;>7[GA%1(\[020"[85<Y)%<Y^QG\%
M=8^#7PKNSXHCAA\7^)M5N=?UB&!]ZP33MD0[OXMBA02.,YY(YKW9+>.-B4C5
M"W4J ,T_;TH]I:#A%;[BY;R4GT,KQ?K/_".>$]:U;;(_V"RGNML2%W.R-FPJ
MCECQT'6OE?6/@GJGC#]B7X=7'A]IH/B%X6TRR\4:'<M&5F6_6,320E>N) [Q
ME3W(STKZ^I-M.%5T]N]Q2IJ>Y\Y>'_ >O^(/V;?B)KWBJT6W\>^/]#NKO4+5
M02+,/:,EK9*#SMA0@8_OO(>K5UW[(.KW.M?LP_#*XO1,MXNA6]O,MQ&T;K)$
MOE,K*P!!!0C\*]?VT8HE5<HN+76__ "--1=_(\Z_:/:8?L_?$K[/')+/_P (
MYJ 2.)2S,QMWP !R3[5@_LG^%[#3?V>?AA.VCV]GJB>';$2R-:K'.K^0H;<<
M!@W4'//7->QFE%+VC]G[/SN/D]_G$Z5X+XNT&P^/'Q[/AG6=.>_\'^!K%+VY
MBF5EANM5N@1" >-WDP+(W!X:X'=:][- '&*F$N1MK<J4>;1GQ_\ M(?"O2_V
M>]6\ ?&3P#X>DMIO#.K+::[:::DDTEWI5UB*;Y<L6*,58 #J2:^N[6ZBO;6&
MX@?S(9D61''1E(R#^52F@#%5.HYQBGNNI,8<K;74\CO)3)^UIH\8BE*P^"+T
MM-Y9\L%[^UVKNQC=^[8XSG KSG]IGX">(=+UJ^^,/PA5+;Q]!8R6^L:(0?LW
MB2SV$-%(HQ^_4<HPY)4#TKZA'6EJXUI0DI+HK>I,J:DFF>=?LYQF']G_ .&T
M91D*>'-/4HZE64BW0$$'H<]:=^T9%+<?L_\ Q*B@C>:>3PWJ*I'&I9F8VT@
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7 HHHH **** "BBB@ HHHH **** /_]D!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>7
<FILENAME>tm206175d1_ex99-1img002.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 tm206175d1_ex99-1img002.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  $! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_
MVP!# 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_P  1"  ^ &0# 2(  A$! Q$!_\0
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MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H # ,!  (1 Q$ /P#^_BBODO\
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M]JWX2? KQ'8>%?']I\:)]6U31HM>M'^''[,?[3/QKT4:=/>W^G1K>>)O@O\
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M.@^-O^"AH#?L!_MSHP#+_P ,=_M-C# ,,?\ "EO&G!!SD<GBO._^"3<=LO\
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
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>8
<FILENAME>FilingSummary.xml
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<XML>
<?xml version='1.0' encoding='utf-8'?>
<FilingSummary>
  <Version>3.19.3.a.u2</Version>
  <ProcessingTime/>
  <ReportFormat>html</ReportFormat>
  <ContextCount>1</ContextCount>
  <ElementCount>95</ElementCount>
  <EntityCount>1</EntityCount>
  <FootnotesReported>false</FootnotesReported>
  <SegmentCount>0</SegmentCount>
  <ScenarioCount>0</ScenarioCount>
  <TuplesReported>false</TuplesReported>
  <UnitCount>3</UnitCount>
  <MyReports>
    <Report instance="tm206175-1_8k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R1.htm</HtmlFileName>
      <LongName>00000001 - Document - Cover</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://elcompanies.com/role/Cover</Role>
      <ShortName>Cover</ShortName>
      <MenuCategory>Cover</MenuCategory>
      <Position>1</Position>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <LongName>All Reports</LongName>
      <ReportType>Book</ReportType>
      <ShortName>All Reports</ShortName>
    </Report>
  </MyReports>
  <InputFiles>
    <File doctype="8-K" original="tm206175-1_8k.htm">tm206175-1_8k.htm</File>
    <File>el-20200205.xsd</File>
    <File>el-20200205_lab.xml</File>
    <File>el-20200205_pre.xml</File>
    <File>tm206175d1_ex99-1.htm</File>
  </InputFiles>
  <SupplementalFiles/>
  <BaseTaxonomies>
    <BaseTaxonomy>http://xbrl.sec.gov/dei/2019-01-31</BaseTaxonomy>
  </BaseTaxonomies>
  <HasPresentationLinkbase>true</HasPresentationLinkbase>
  <HasCalculationLinkbase>false</HasCalculationLinkbase>
</FilingSummary>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>9
<FILENAME>Show.js
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
// Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission.  Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105.
var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0);
e.removeAttribute('id');a.parentNode.appendChild(e)}}
if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'}
e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>10
<FILENAME>tm206175-1_8k_htm.xml
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<XML>
<?xml version="1.0" encoding="utf-8"?>
<xbrl
  xmlns="http://www.xbrl.org/2003/instance"
  xmlns:dei="http://xbrl.sec.gov/dei/2019-01-31"
  xmlns:iso4217="http://www.xbrl.org/2003/iso4217"
  xmlns:link="http://www.xbrl.org/2003/linkbase"
  xmlns:xlink="http://www.w3.org/1999/xlink">
    <link:schemaRef xlink:href="el-20200205.xsd" xlink:type="simple"/>
    <context id="From2020-02-04to2020-02-05">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001001250</identifier>
        </entity>
        <period>
            <startDate>2020-02-04</startDate>
            <endDate>2020-02-05</endDate>
        </period>
    </context>
    <unit id="USD">
        <measure>iso4217:USD</measure>
    </unit>
    <unit id="Shares">
        <measure>shares</measure>
    </unit>
    <unit id="USDPShares">
        <divide>
            <unitNumerator>
                <measure>iso4217:USD</measure>
            </unitNumerator>
            <unitDenominator>
                <measure>shares</measure>
            </unitDenominator>
        </divide>
    </unit>
    <dei:EntityCentralIndexKey contextRef="From2020-02-04to2020-02-05">0001001250</dei:EntityCentralIndexKey>
    <dei:AmendmentFlag contextRef="From2020-02-04to2020-02-05">false</dei:AmendmentFlag>
    <dei:EntityRegistrantName contextRef="From2020-02-04to2020-02-05" id="xdx2ixbrl0011">ESTEE LAUDER COMPANIES INC</dei:EntityRegistrantName>
    <dei:DocumentType contextRef="From2020-02-04to2020-02-05">8-K</dei:DocumentType>
    <dei:DocumentPeriodEndDate contextRef="From2020-02-04to2020-02-05">2020-02-05</dei:DocumentPeriodEndDate>
    <dei:EntityIncorporationStateCountryCode contextRef="From2020-02-04to2020-02-05">DE</dei:EntityIncorporationStateCountryCode>
    <dei:EntityFileNumber contextRef="From2020-02-04to2020-02-05">1-14064</dei:EntityFileNumber>
    <dei:EntityTaxIdentificationNumber contextRef="From2020-02-04to2020-02-05">11-2408943</dei:EntityTaxIdentificationNumber>
    <dei:EntityAddressAddressLine1 contextRef="From2020-02-04to2020-02-05">767 Fifth Avenue</dei:EntityAddressAddressLine1>
    <dei:EntityAddressCityOrTown contextRef="From2020-02-04to2020-02-05">New York</dei:EntityAddressCityOrTown>
    <dei:EntityAddressStateOrProvince contextRef="From2020-02-04to2020-02-05">NY</dei:EntityAddressStateOrProvince>
    <dei:EntityAddressPostalZipCode contextRef="From2020-02-04to2020-02-05">10153</dei:EntityAddressPostalZipCode>
    <dei:CityAreaCode contextRef="From2020-02-04to2020-02-05">212</dei:CityAreaCode>
    <dei:LocalPhoneNumber contextRef="From2020-02-04to2020-02-05">572-4200</dei:LocalPhoneNumber>
    <dei:WrittenCommunications contextRef="From2020-02-04to2020-02-05">false</dei:WrittenCommunications>
    <dei:SolicitingMaterial contextRef="From2020-02-04to2020-02-05">false</dei:SolicitingMaterial>
    <dei:PreCommencementTenderOffer contextRef="From2020-02-04to2020-02-05">false</dei:PreCommencementTenderOffer>
    <dei:PreCommencementIssuerTenderOffer contextRef="From2020-02-04to2020-02-05">false</dei:PreCommencementIssuerTenderOffer>
    <dei:Security12bTitle contextRef="From2020-02-04to2020-02-05">Class A Common Stock, $.01 par value</dei:Security12bTitle>
    <dei:TradingSymbol contextRef="From2020-02-04to2020-02-05">EL</dei:TradingSymbol>
    <dei:SecurityExchangeName contextRef="From2020-02-04to2020-02-05">NYSE</dei:SecurityExchangeName>
    <dei:EntityEmergingGrowthCompany contextRef="From2020-02-04to2020-02-05">false</dei:EntityEmergingGrowthCompany>
</xbrl>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EXCEL
<SEQUENCE>11
<FILENAME>Financial_Report.xlsx
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
begin 644 Financial_Report.xlsx
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MMWF\81AU8\K(XK%T-8943OTJDH\ Q:X831F:3LTXXFBD(3^ G/,6+V2?$9/
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MX7<3=L'8@_W'QE?!KH5?=]%] 5!+ P04    " "'5D90F5R<(Q &  "<)P
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MADB.A]\SZS%YIN9LSG;2'87[9A:OS.RC3(OD8<M,B,.(H L$F1&)J3T+4%2
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MUM#P0>)S6/$<S.EN?PHO3?*P99TWBISN]F>HQ:#>S@7WOT3Q U!+ P04
M" "'5D90, /WOC<!   B @  #P   'AL+W=O<FMB;V]K+GAM;(U1P6[", S]
ME2H?L!:T(0U1+J!M2-.&QL0];5UJD<25$V#CZ^<$=;#;3HZ?[>?GE]F)>%\1
M[;,O:YPO51="/\US7W=@M;^C'IQ46F*K@Z2\RWW/H!O? 01K\G%13'*KT:GY
M;.!:<WZ;4( Z(#D!([!%./EK/::9EH8C?.JJ5(7*]"'0$YH O-0!GID./;I=
MJ48J:Y%]V,3=J=.B0XMG:%+F.SJ]$..97-!F4S,9DZ9B(0W)!O^+;($#UG\:
M@ZX^M&@MU:00PB-ZK-!@^"Y5>AM0<D5^<T;R88@7$Z?\'QNI;;&&)=4'"RY<
M?&0P<;OS'?9>94Y;*-6"CL!1L2Q8-1?U07RY2LIXBE+@53-*\@9-#;3HH'D3
M&B^XG%JO.8LA\8SO'T:/8NG!F(5@[^Z5=.*/',/WS'\ 4$L#!!0    ( (=6
M1E#_P"8(O0   (4"   :    >&PO7W)E;',O=V]R:V)O;VLN>&UL+G)E;'.M
MDD$*@S 0 +\B>4!7;>FAJ*=>O+;]0-#5B)J$[);J[YMZ44&A!R\)8</,0)(\
ML)/<&$VJL10,?:<I%8K9W@"H4-A+.AF+VD\JXWK)_NAJL+)H98T0A^$5W)(A
MLF3)#/(R%2XO(Q&\I*N14P%#!Q_C6E*(3#!MT<D+_)71XC]Z4U5-@7=3O'O4
MO%$Q"P1L!\5S$"GIL'RR:W1-1X>LX'LQYT4,CQT>7S%1]_276<]>@C"MA[_)
M1/TUP.K795]02P,$%     @ AU9&4 N/V ,A 0  5P0  !,   !;0V]N=&5N
M=%]4>7!E<UTN>&ULM51-3\,P#/TK4Z]HS>#  6V[ %>8!'\@)&X;-5^RO=']
M>]QN0V(J8FC;)8GS[/=>$BOS]VT&FG3!1UH4#7-^4(I, T%3F3)$0:J$0;.$
M6*NL3:MK4'>SV;TR*3)$GG+/42SG3U#IM>?)XVZ_IUX4.F?OC&:7HMI$>T0Z
MW1.6"'[(H<9ENI&$8O+<"0O)WJ(0E IU@L)Q81]+W>L&$)V%?UE+5>4,V&36
M04I*R@C:4@/ P9?4: 3[QNABO?>[TL@O.@BQZKSZD5!>SP=O/8P;&)!+*K.T
M!8Q)#<!NO#U+\- -)B%,,PJ*[$:.)Y96@I+J$R]Y1.A;QX(]25RHK_>PGPG;
M83UVX=\@J6$Z[];_:'29RZ!=_,W(1TKM05\-_\GR"U!+ 0(4 Q0    ( (=6
M1E ?(\\#P    !,"   +              "  0    !?<F5L<R\N<F5L<U!+
M 0(4 Q0    ( (=61E GZ(<.@@   +$    0              "  >D   !D
M;V-0<F]P<R]A<' N>&UL4$L! A0#%     @ AU9&4+^#@/7N    *P(  !$
M             ( !F0$  &1O8U!R;W!S+V-O<F4N>&UL4$L! A0#%     @
MAU9&4)E<G",0!@  G"<  !,              ( !M@(  'AL+W1H96UE+W1H
M96UE,2YX;6Q02P$"% ,4    " "'5D900V4O@)X"  "3"P  &
M    @ 'W"   >&PO=V]R:W-H965T<R]S:&5E=#$N>&UL4$L! A0#%     @
MAU9&4%@KA0M2 @  W@4  !0              ( !RPL  'AL+W-H87)E9%-T
M<FEN9W,N>&UL4$L! A0#%     @ AU9&4+JA.8K7 0  ,@8   T
M     ( !3PX  'AL+W-T>6QE<RYX;6Q02P$"% ,4    " "'5D90, /WOC<!
M   B @  #P              @ %1$   >&PO=V]R:V)O;VLN>&UL4$L! A0#
M%     @ AU9&4/_ )@B]    A0(  !H              ( !M1$  'AL+U]R
M96QS+W=O<FMB;V]K+GAM;"YR96QS4$L! A0#%     @ AU9&4 N/V ,A 0
M5P0  !,              ( !JA(  %M#;VYT96YT7U1Y<&5S72YX;6Q02P4&
2      H "@"  @  _!,

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>ZIP
<SEQUENCE>12
<FILENAME>0001104659-20-011697-xbrl.zip
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
begin 644 0001104659-20-011697-xbrl.zip
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M8/U>)\I7!]BP=!9N$:2.D,:+5-#A$>PIX><OIFI'AH=@-2%68S#NM[?N77M
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M8O"S@)"X!,C!+!3M&:I!Q>R*Q8S,Z3  [>3L<C  0F7PT^/W6KQ'./K;:G3
M\OT+GB+4V8T[[RU.!T 80]AX1<HHA82SK9O5G4*H.Q&I@W1&,['+]2"09!,>
M\E<@6#I;2[&GWV?A#1./?V7R!UQ^N."PRE22#(<U%"82XO-)K)Z2X>H0HF$2
MYN 1+\$"0@U[/0;X'+L:!%YRH//\9  ;W+--T'5/7-$"40/:*:=",VV/5\]4
MWX,<C1T?BTQ?.1!P-B=^[[:*H5 6F5!.+#@_?LFV%81I#S1RLY+Z!K/9T7<C
MM&Z222&ID?FO5-A_/>X-;@$ , C-(,/Q+9T!M%V(ZWL&)6M4;0/<^Y^"Z'5
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M:>9/?YYW;F6ZAX</AO/3/'THG%'_(3N0_O<B?_VM>W]\+%CR?U!+ P04
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M@K 79$A5]!U#:V9Y.,+U7?] M-_]=E0[G43Z%)L[9ATG IMXTC 'UJ>^Q9@
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M/V+-^28#$+ZW/]X%:H5>VN,QK+"S=K&0T%I[O7W])KJ?;"#"ER92D"JF(IL
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M"P-PI/ $!],6G;YFJ?Y^UX(M34(Y']<]6<0-)>>LEW.^\M11"P_S##S=TS7
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M YR*-V>59IUT_$MOE-0:Q^$!"5Y&H)97W)"\:5>:#?]9WR(86IIIE?$B6[$
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MKU@9\EI7,S 10PW+;<%&4!A3O?HIM%B ^<Z"Z?SR*C@FYD_;S !>!PGMX$K
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MI'*4LGG#XGSK1 J:!3BPG9H#EX1U.;:\8XY8 C_WEWA<%H^?A2GH">_[QQW
M9'J9N$5,>AZ4^.N>61ZSHJ6=-Q2O(##G$2 ;@>I//V]Y'V\_G?PTJ*MBQ8EW
ML9N..4!U C?7MZ[ACS]>/7B07?,@>7ZQMNWY\T0U :N@6"E"0N\T"K\A_OE'
M?C&Z[?F7H.A&M<H8F?.+QFW/+S>FI.C:*(I!"QFNV!5:^2>!^4%46@/[@G0
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MM&%HKOD8/W\C*!WMF#0K>;*:I_\(=3?G:"*(%9M6L3"@FLA1&8] >XXR:OZ
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MR!) Y0NTG60E*1H7!?)1>Y6",:?<O ,8VHA@S M04Z!90V'L;.384C8V-=3
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MCZ'V:4:9\7N+(7ES8$8B6%.F6\[%4>-,XF@.CF(W8%?:8_GTM>\M\UFS-=.
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MH:*;-GX>TA%B5H#)(Y3%@H<+0'6[%8#7IVI,K +TGEBMUU<2J].$HI0 :Y<
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M8R?2JIQS1FP%HT9@(ISO1*A6 EM_@#OB>[DFZE393Y#J#40!44 4$ 5$ 5%
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M[YPOV2?"H-)@JV$+$"0X#9I@T,EZ&C Z$@&"!*=!"TQJ69N6*RU8BK)>BJ1
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MG*6_6U8O;^_O_NO.[S\F7P;DP_\#4$L! A0#%     @ AU9&4 (CB+Q& P
MD@P   \              ( !     &5L+3(P,C P,C U+GAS9%!+ 0(4 Q0
M   ( (=61E!$Y.I4_ H  -^'   3              "  7,#  !E;"TR,#(P
M,#(P-5]L86(N>&UL4$L! A0#%     @ AU9&4--N31E7!P  .%D  !,
M         ( !H X  &5L+3(P,C P,C U7W!R92YX;6Q02P$"% ,4    " "'
M5D90-BTE;$H3  "$9@  $0              @ $H%@  =&TR,#8Q-S4M,5\X
M:RYH=&U02P$"% ,4    " "'5D909CIAKVF   !IL@< %0
M@ &A*0  =&TR,#8Q-S5D,5]E>#DY+3$N:'1M4$L%!@     %  4 00$  #VJ
$      $!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>13
<FILENAME>R1.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.19.3.a.u2</span><table class="report" border="0" cellspacing="2" id="idp6605573216">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Cover<br></strong></div></th>
<th class="th"><div>Feb. 05, 2020</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CoverAbstract', window );"><strong>Cover [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">8-K<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Feb.  05,  2020<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">1-14064<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">ESTEE LAUDER COMPANIES INC<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0001001250<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">11-2408943<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation, State or Country Code</a></td>
<td class="text">DE<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">767 Fifth Avenue<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">New York<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">NY<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">10153<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">212<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">572-4200<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_WrittenCommunications', window );">Written Communications</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SolicitingMaterial', window );">Soliciting Material</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementTenderOffer', window );">Pre-commencement Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementIssuerTenderOffer', window );">Pre-commencement Issuer Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Class A Common Stock, $.01 par value<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">EL<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CoverAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cover page.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CoverAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressStateOrProvince">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressStateOrProvince</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:stateOrProvinceItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityTaxIdentificationNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityTaxIdentificationNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:employerIdItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementIssuerTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 13e<br> -Subsection 4c<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementIssuerTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14d<br> -Subsection 2b<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_Security12bTitle">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_Security12bTitle</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SecurityExchangeName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection d1-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SecurityExchangeName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarExchangeCodeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SolicitingMaterial">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Section 14a<br> -Number 240<br> -Subsection 12<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SolicitingMaterial</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:tradingSymbolItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_WrittenCommunications">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 425<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_WrittenCommunications</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>14
<FILENAME>report.css
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
/* Updated 2009-11-04 */
/* v2.2.0.24 */

/* DefRef Styles */
..report table.authRefData{
	background-color: #def;
	border: 2px solid #2F4497;
	font-size: 1em;
	position: absolute;
}

..report table.authRefData a {
	display: block;
	font-weight: bold;
}

..report table.authRefData p {
	margin-top: 0px;
}

..report table.authRefData .hide {
	background-color: #2F4497;
	padding: 1px 3px 0px 0px;
	text-align: right;
}

..report table.authRefData .hide a:hover {
	background-color: #2F4497;
}

..report table.authRefData .body {
	height: 150px;
	overflow: auto;
	width: 400px;
}

..report table.authRefData table{
	font-size: 1em;
}

/* Report Styles */
..pl a, .pl a:visited {
	color: black;
	text-decoration: none;
}

/* table */
..report {
	background-color: white;
	border: 2px solid #acf;
	clear: both;
	color: black;
	font: normal 8pt Helvetica, Arial, san-serif;
	margin-bottom: 2em;
}

..report hr {
	border: 1px solid #acf;
}

/* Top labels */
..report th {
	background-color: #acf;
	color: black;
	font-weight: bold;
	text-align: center;
}

..report th.void	{
	background-color: transparent;
	color: #000000;
	font: bold 10pt Helvetica, Arial, san-serif;
	text-align: left;
}

..report .pl {
	text-align: left;
	vertical-align: top;
	white-space: normal;
	width: 200px;
	white-space: normal; /* word-wrap: break-word; */
}

..report td.pl a.a {
	cursor: pointer;
	display: block;
	width: 200px;
	overflow: hidden;
}

..report td.pl div.a {
	width: 200px;
}

..report td.pl a:hover {
	background-color: #ffc;
}

/* Header rows... */
..report tr.rh {
	background-color: #acf;
	color: black;
	font-weight: bold;
}

/* Calendars... */
..report .rc {
	background-color: #f0f0f0;
}

/* Even rows... */
..report .re, .report .reu {
	background-color: #def;
}

..report .reu td {
	border-bottom: 1px solid black;
}

/* Odd rows... */
..report .ro, .report .rou {
	background-color: white;
}

..report .rou td {
	border-bottom: 1px solid black;
}

..report .rou table td, .report .reu table td {
	border-bottom: 0px solid black;
}

/* styles for footnote marker */
..report .fn {
	white-space: nowrap;
}

/* styles for numeric types */
..report .num, .report .nump {
	text-align: right;
	white-space: nowrap;
}

..report .nump {
	padding-left: 2em;
}

..report .nump {
	padding: 0px 0.4em 0px 2em;
}

/* styles for text types */
..report .text {
	text-align: left;
	white-space: normal;
}

..report .text .big {
	margin-bottom: 1em;
	width: 17em;
}

..report .text .more {
	display: none;
}

..report .text .note {
	font-style: italic;
	font-weight: bold;
}

..report .text .small {
	width: 10em;
}

..report sup {
	font-style: italic;
}

..report .outerFootnotes {
	font-size: 1em;
}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>JSON
<SEQUENCE>17
<FILENAME>MetaLinks.json
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
{
 "instance": {
  "tm206175-1_8k.htm": {
   "axisCustom": 0,
   "axisStandard": 0,
   "contextCount": 1,
   "dts": {
    "definitionLink": {
     "remote": [
      "http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-eedm-def-2019-01-31.xml",
      "http://xbrl.fasb.org/srt/2019/elts/srt-eedm1-def-2019-01-31.xml"
     ]
    },
    "inline": {
     "local": [
      "tm206175-1_8k.htm"
     ]
    },
    "labelLink": {
     "local": [
      "el-20200205_lab.xml"
     ],
     "remote": [
      "https://xbrl.sec.gov/dei/2019/dei-doc-2019-01-31.xml"
     ]
    },
    "presentationLink": {
     "local": [
      "el-20200205_pre.xml"
     ]
    },
    "referenceLink": {
     "remote": [
      "https://xbrl.sec.gov/dei/2019/dei-ref-2019-01-31.xml"
     ]
    },
    "schema": {
     "local": [
      "el-20200205.xsd"
     ],
     "remote": [
      "http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xl-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xlink-2003-12-31.xsd",
      "https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd",
      "http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd",
      "http://www.xbrl.org/2005/xbrldt-2005.xsd",
      "http://www.xbrl.org/dtr/type/nonNumeric-2009-12-16.xsd",
      "http://www.xbrl.org/dtr/type/numeric-2009-12-16.xsd",
      "http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd",
      "http://www.xbrl.org/lrr/role/net-2009-12-16.xsd",
      "http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd",
      "http://xbrl.fasb.org/us-gaap/2019/elts/us-roles-2019-01-31.xsd",
      "http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd",
      "http://www.xbrl.org/2006/ref-2006-02-27.xsd",
      "http://xbrl.fasb.org/srt/2019/elts/srt-types-2019-01-31.xsd",
      "http://xbrl.fasb.org/srt/2019/elts/srt-roles-2019-01-31.xsd",
      "https://xbrl.sec.gov/country/2017/country-2017-01-31.xsd",
      "http://xbrl.fasb.org/us-gaap/2019/elts/us-types-2019-01-31.xsd",
      "http://www.xbrl.org/lrr/role/deprecated-2009-12-16.xsd"
     ]
    }
   },
   "elementCount": 59,
   "entityCount": 1,
   "hidden": {
    "http://xbrl.sec.gov/dei/2019-01-31": 3,
    "total": 3
   },
   "keyCustom": 0,
   "keyStandard": 95,
   "memberCustom": 0,
   "memberStandard": 0,
   "nsprefix": "el",
   "nsuri": "http://elcompanies.com/20200205",
   "report": {
    "R1": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "b",
       "p",
       "body",
       "html"
      ],
      "baseRef": "tm206175-1_8k.htm",
      "contextRef": "From2020-02-04to2020-02-05",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "dei:DocumentType",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     },
     "groupType": "document",
     "isDefault": "true",
     "longName": "00000001 - Document - Cover",
     "role": "http://elcompanies.com/role/Cover",
     "shortName": "Cover",
     "subGroupType": "",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "b",
       "p",
       "body",
       "html"
      ],
      "baseRef": "tm206175-1_8k.htm",
      "contextRef": "From2020-02-04to2020-02-05",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "dei:DocumentType",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     }
    }
   },
   "segmentCount": 0,
   "tag": {
    "dei_AmendmentDescription": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Description of changes contained within amended document.",
        "label": "Amendment Description"
       }
      }
     },
     "localname": "AmendmentDescription",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "stringItemType"
    },
    "dei_AmendmentFlag": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.",
        "label": "Amendment Flag"
       }
      }
     },
     "localname": "AmendmentFlag",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_AnnualInformationForm": {
     "auth_ref": [
      "r11"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Boolean flag with value true on a form if it is an annual report containing an annual information form.",
        "label": "Annual Information Form"
       }
      }
     },
     "localname": "AnnualInformationForm",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_AuditedAnnualFinancialStatements": {
     "auth_ref": [
      "r11"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Boolean flag with value true on a form if it is an annual report containing audited financial statements.",
        "label": "Audited Annual Financial Statements"
       }
      }
     },
     "localname": "AuditedAnnualFinancialStatements",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_CityAreaCode": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Area code of city",
        "label": "City Area Code"
       }
      }
     },
     "localname": "CityAreaCode",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_CountryRegion": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Region code of country",
        "label": "Country Region"
       }
      }
     },
     "localname": "CountryRegion",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_CoverAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Cover page.",
        "label": "Cover [Abstract]"
       }
      }
     },
     "localname": "CoverAbstract",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "xbrltype": "stringItemType"
    },
    "dei_CurrentFiscalYearEndDate": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "End date of current fiscal year in the format --MM-DD.",
        "label": "Current Fiscal Year End Date"
       }
      }
     },
     "localname": "CurrentFiscalYearEndDate",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "gMonthDayItemType"
    },
    "dei_DocumentAccountingStandard": {
     "auth_ref": [
      "r10"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The basis of accounting the registrant has used to prepare the financial statements included in this filing This can either be 'U.S. GAAP', 'International Financial Reporting Standards', or 'Other'.",
        "label": "Document Accounting Standard"
       }
      }
     },
     "localname": "DocumentAccountingStandard",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "accountingStandardItemType"
    },
    "dei_DocumentAnnualReport": {
     "auth_ref": [
      "r13"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Boolean flag that is true only for a form used as an annual report.",
        "label": "Document Annual Report"
       }
      }
     },
     "localname": "DocumentAnnualReport",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_DocumentFiscalPeriodFocus": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Fiscal period values are FY, Q1, Q2, and Q3.  1st, 2nd and 3rd quarter 10-Q or 10-QT statements have value Q1, Q2, and Q3 respectively, with 10-K, 10-KT or other fiscal year statements having FY.",
        "label": "Document Fiscal Period Focus"
       }
      }
     },
     "localname": "DocumentFiscalPeriodFocus",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "fiscalPeriodItemType"
    },
    "dei_DocumentFiscalYearFocus": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.",
        "label": "Document Fiscal Year Focus"
       }
      }
     },
     "localname": "DocumentFiscalYearFocus",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "gYearItemType"
    },
    "dei_DocumentPeriodEndDate": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.",
        "label": "Document Period End Date"
       }
      }
     },
     "localname": "DocumentPeriodEndDate",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "dateItemType"
    },
    "dei_DocumentPeriodStartDate": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The start date of the period covered in the document, in CCYY-MM-DD format.",
        "label": "Document Period Start Date"
       }
      }
     },
     "localname": "DocumentPeriodStartDate",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "dateItemType"
    },
    "dei_DocumentQuarterlyReport": {
     "auth_ref": [
      "r9"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Boolean flag that is true only for a form used as an quarterly report.",
        "label": "Document Quarterly Report"
       }
      }
     },
     "localname": "DocumentQuarterlyReport",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_DocumentRegistrationStatement": {
     "auth_ref": [
      "r14"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Boolean flag that is true only for a form used as a registration statement.",
        "label": "Document Registration Statement"
       }
      }
     },
     "localname": "DocumentRegistrationStatement",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_DocumentShellCompanyEventDate": {
     "auth_ref": [
      "r10"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Date of event requiring a shell company report.",
        "label": "Document Shell Company Event Date"
       }
      }
     },
     "localname": "DocumentShellCompanyEventDate",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "dateItemType"
    },
    "dei_DocumentShellCompanyReport": {
     "auth_ref": [
      "r10"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Boolean flag that is true for a Shell Company Report pursuant to section 13 or 15(d) of the Exchange Act.",
        "label": "Document Shell Company Report"
       }
      }
     },
     "localname": "DocumentShellCompanyReport",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_DocumentTransitionReport": {
     "auth_ref": [
      "r12"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Boolean flag that is true only for a form used as a transition report.",
        "label": "Document Transition Report"
       }
      }
     },
     "localname": "DocumentTransitionReport",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_DocumentType": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.",
        "label": "Document Type"
       }
      }
     },
     "localname": "DocumentType",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "submissionTypeItemType"
    },
    "dei_DocumentsIncorporatedByReferenceTextBlock": {
     "auth_ref": [
      "r1"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Documents incorporated by reference.",
        "label": "Documents Incorporated by Reference [Text Block]"
       }
      }
     },
     "localname": "DocumentsIncorporatedByReferenceTextBlock",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "textBlockItemType"
    },
    "dei_EntityAddressAddressLine1": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Address Line 1 such as Attn, Building Name, Street Name",
        "label": "Entity Address, Address Line One"
       }
      }
     },
     "localname": "EntityAddressAddressLine1",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_EntityAddressAddressLine2": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Address Line 2 such as Street or Suite number",
        "label": "Entity Address, Address Line Two"
       }
      }
     },
     "localname": "EntityAddressAddressLine2",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_EntityAddressAddressLine3": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Address Line 3 such as an Office Park",
        "label": "Entity Address, Address Line Three"
       }
      }
     },
     "localname": "EntityAddressAddressLine3",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_EntityAddressCityOrTown": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Name of the City or Town",
        "label": "Entity Address, City or Town"
       }
      }
     },
     "localname": "EntityAddressCityOrTown",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_EntityAddressCountry": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "ISO 3166-1 alpha-2 country code.",
        "label": "Entity Address, Country"
       }
      }
     },
     "localname": "EntityAddressCountry",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "countryCodeItemType"
    },
    "dei_EntityAddressPostalZipCode": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Code for the postal or zip code",
        "label": "Entity Address, Postal Zip Code"
       }
      }
     },
     "localname": "EntityAddressPostalZipCode",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_EntityAddressStateOrProvince": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Name of the state or province.",
        "label": "Entity Address, State or Province"
       }
      }
     },
     "localname": "EntityAddressStateOrProvince",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "stateOrProvinceItemType"
    },
    "dei_EntityBankruptcyProceedingsReportingCurrent": {
     "auth_ref": [
      "r4"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "For registrants involved in bankruptcy proceedings during the preceding five years, the value Yes indicates that the registrant has filed all documents and reports required to be filed by Section 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court; the value No indicates the registrant has not.  Registrants not involved in bankruptcy proceedings during the preceding five years should not report this element.",
        "label": "Entity Bankruptcy Proceedings, Reporting Current"
       }
      }
     },
     "localname": "EntityBankruptcyProceedingsReportingCurrent",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_EntityCentralIndexKey": {
     "auth_ref": [
      "r15"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.",
        "label": "Entity Central Index Key"
       }
      }
     },
     "localname": "EntityCentralIndexKey",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "centralIndexKeyItemType"
    },
    "dei_EntityCommonStockSharesOutstanding": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.",
        "label": "Entity Common Stock, Shares Outstanding"
       }
      }
     },
     "localname": "EntityCommonStockSharesOutstanding",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "sharesItemType"
    },
    "dei_EntityCurrentReportingStatus": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Indicate 'Yes' or 'No' whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.",
        "label": "Entity Current Reporting Status"
       }
      }
     },
     "localname": "EntityCurrentReportingStatus",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "yesNoItemType"
    },
    "dei_EntityEmergingGrowthCompany": {
     "auth_ref": [
      "r15"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Indicate if registrant meets the emerging growth company criteria.",
        "label": "Entity Emerging Growth Company"
       }
      }
     },
     "localname": "EntityEmergingGrowthCompany",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_EntityExTransitionPeriod": {
     "auth_ref": [
      "r18"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Indicate if an emerging growth company has elected not to use the extended transition period for complying with any new or revised financial accounting standards.",
        "label": "Elected Not To Use the Extended Transition Period"
       }
      }
     },
     "localname": "EntityExTransitionPeriod",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_EntityFileNumber": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.",
        "label": "Entity File Number"
       }
      }
     },
     "localname": "EntityFileNumber",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "fileNumberItemType"
    },
    "dei_EntityFilerCategory": {
     "auth_ref": [
      "r15"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Indicate whether the registrant is one of the following: Large Accelerated Filer, Accelerated Filer, Non-accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.",
        "label": "Entity Filer Category"
       }
      }
     },
     "localname": "EntityFilerCategory",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "filerCategoryItemType"
    },
    "dei_EntityIncorporationStateCountryCode": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Two-character EDGAR code representing the state or country of incorporation.",
        "label": "Entity Incorporation, State or Country Code"
       }
      }
     },
     "localname": "EntityIncorporationStateCountryCode",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "edgarStateCountryItemType"
    },
    "dei_EntityInteractiveDataCurrent": {
     "auth_ref": [
      "r16"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Boolean flag that is true when the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).",
        "label": "Entity Interactive Data Current"
       }
      }
     },
     "localname": "EntityInteractiveDataCurrent",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "yesNoItemType"
    },
    "dei_EntityPrimarySicNumber": {
     "auth_ref": [
      "r11"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Primary Standard Industrial Classification (SIC) Number for the Entity.",
        "label": "Entity Primary SIC Number"
       }
      }
     },
     "localname": "EntityPrimarySicNumber",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "sicNumberItemType"
    },
    "dei_EntityPublicFloat": {
     "auth_ref": [],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrant's most recently completed second fiscal quarter.",
        "label": "Entity Public Float"
       }
      }
     },
     "localname": "EntityPublicFloat",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "monetaryItemType"
    },
    "dei_EntityRegistrantName": {
     "auth_ref": [
      "r15"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.",
        "label": "Entity Registrant Name"
       }
      }
     },
     "localname": "EntityRegistrantName",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_EntityShellCompany": {
     "auth_ref": [
      "r15"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Boolean flag that is true when the registrant is a shell company as defined in Rule 12b-2 of the Exchange Act.",
        "label": "Entity Shell Company"
       }
      }
     },
     "localname": "EntityShellCompany",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_EntitySmallBusiness": {
     "auth_ref": [
      "r15"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Indicates that the company is a Smaller Reporting Company (SRC).",
        "label": "Entity Small Business"
       }
      }
     },
     "localname": "EntitySmallBusiness",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_EntityTaxIdentificationNumber": {
     "auth_ref": [
      "r15"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.",
        "label": "Entity Tax Identification Number"
       }
      }
     },
     "localname": "EntityTaxIdentificationNumber",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "employerIdItemType"
    },
    "dei_EntityVoluntaryFilers": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Indicate 'Yes' or 'No' if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.",
        "label": "Entity Voluntary Filers"
       }
      }
     },
     "localname": "EntityVoluntaryFilers",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "yesNoItemType"
    },
    "dei_EntityWellKnownSeasonedIssuer": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Indicate 'Yes' or 'No' if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A.",
        "label": "Entity Well-known Seasoned Issuer"
       }
      }
     },
     "localname": "EntityWellKnownSeasonedIssuer",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "yesNoItemType"
    },
    "dei_Extension": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Extension number for local phone number.",
        "label": "Extension"
       }
      }
     },
     "localname": "Extension",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_LocalPhoneNumber": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Local phone number for entity.",
        "label": "Local Phone Number"
       }
      }
     },
     "localname": "LocalPhoneNumber",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_NoTradingSymbolFlag": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Boolean flag that is true only for a security having no trading symbol.",
        "label": "No Trading Symbol Flag"
       }
      }
     },
     "localname": "NoTradingSymbolFlag",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_OtherReportingStandardItemNumber": {
     "auth_ref": [
      "r10"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "\"Item 17\" or \"Item 18\" specified when the basis of accounting is neither US GAAP nor IFRS.",
        "label": "Other Reporting Standard Item Number"
       }
      }
     },
     "localname": "OtherReportingStandardItemNumber",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "otherReportingStandardItemNumberItemType"
    },
    "dei_PreCommencementIssuerTenderOffer": {
     "auth_ref": [
      "r5"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.",
        "label": "Pre-commencement Issuer Tender Offer"
       }
      }
     },
     "localname": "PreCommencementIssuerTenderOffer",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_PreCommencementTenderOffer": {
     "auth_ref": [
      "r6"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.",
        "label": "Pre-commencement Tender Offer"
       }
      }
     },
     "localname": "PreCommencementTenderOffer",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_Security12bTitle": {
     "auth_ref": [
      "r0"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Title of a 12(b) registered security.",
        "label": "Title of 12(b) Security"
       }
      }
     },
     "localname": "Security12bTitle",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "securityTitleItemType"
    },
    "dei_Security12gTitle": {
     "auth_ref": [
      "r3"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Title of a 12(g) registered security.",
        "label": "Title of 12(g) Security"
       }
      }
     },
     "localname": "Security12gTitle",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "securityTitleItemType"
    },
    "dei_SecurityExchangeName": {
     "auth_ref": [
      "r2"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Name of the Exchange on which a security is registered.",
        "label": "Security Exchange Name"
       }
      }
     },
     "localname": "SecurityExchangeName",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "edgarExchangeCodeItemType"
    },
    "dei_SecurityReportingObligation": {
     "auth_ref": [
      "r7"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "15(d), indicating whether the security has a reporting obligation under that section of the Exchange Act.",
        "label": "Security Reporting Obligation"
       }
      }
     },
     "localname": "SecurityReportingObligation",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "securityReportingObligationItemType"
    },
    "dei_SolicitingMaterial": {
     "auth_ref": [
      "r8"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.",
        "label": "Soliciting Material"
       }
      }
     },
     "localname": "SolicitingMaterial",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_TradingSymbol": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Trading symbol of an instrument as listed on an exchange.",
        "label": "Trading Symbol"
       }
      }
     },
     "localname": "TradingSymbol",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "tradingSymbolItemType"
    },
    "dei_WrittenCommunications": {
     "auth_ref": [
      "r17"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.",
        "label": "Written Communications"
       }
      }
     },
     "localname": "WrittenCommunications",
     "nsuri": "http://xbrl.sec.gov/dei/2019-01-31",
     "presentation": [
      "http://elcompanies.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    }
   },
   "unitCount": 3
  }
 },
 "std_ref": {
  "r0": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "12",
   "Subsection": "b"
  },
  "r1": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "12",
   "Subsection": "b-23"
  },
  "r10": {
   "Name": "Form 20-F",
   "Number": "249",
   "Publisher": "SEC",
   "Section": "220",
   "Subsection": "f"
  },
  "r11": {
   "Name": "Form 40-F",
   "Number": "249",
   "Publisher": "SEC",
   "Section": "240",
   "Subsection": "f"
  },
  "r12": {
   "Name": "Forms 10-K, 10-Q, 20-F",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "13",
   "Subsection": "a-1-"
  },
  "r13": {
   "Name": "Forms 10-K, 20-F, 40-F",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "15",
   "Subsection": "d-1"
  },
  "r14": {
   "Name": "Forms 20-F, 40-F",
   "Number": "249",
   "Publisher": "SEC",
   "Section": "220 and 240",
   "Subsection": "f"
  },
  "r15": {
   "Name": "Regulation 12B",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "12",
   "Subsection": "b-2"
  },
  "r16": {
   "Name": "Regulation S-T",
   "Number": "232",
   "Publisher": "SEC",
   "Section": "405"
  },
  "r17": {
   "Name": "Securities Act",
   "Number": "230",
   "Publisher": "SEC",
   "Section": "425"
  },
  "r18": {
   "Name": "Securities Act",
   "Number": "7A",
   "Publisher": "SEC",
   "Section": "B",
   "Subsection": "2"
  },
  "r2": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "12",
   "Subsection": "d1-1"
  },
  "r3": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "12",
   "Subsection": "g"
  },
  "r4": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "12, 13, 15d"
  },
  "r5": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "13e",
   "Subsection": "4c"
  },
  "r6": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "14d",
   "Subsection": "2b"
  },
  "r7": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "15",
   "Subsection": "d"
  },
  "r8": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "14a",
   "Subsection": "12"
  },
  "r9": {
   "Name": "Form 10-Q",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "13",
   "Subsection": "a-13"
  }
 },
 "version": "2.1"
}
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
