CONSOLIDATED BALANCE SHEETS THEEST{E LAUDER COMPANIES INC. 56 See notes to consolidated financial statements. JUNE 30 2003 2002 (In millions, except share data) ASSETS Current Assets Cash and cash equivalents $ 364.1 $ 546.9 Accounts receivable, net 634.2 624.8 Inventory and promotional merchandise, net 599.0 544.5 Prepaid expenses and other current assets 247.6 211.4 Total current assets 1,844.9 1,927.6 Property, Plant and Equipment, net 607.7 580.7 Other Assets Investments, at cost or market value 14.0 30.3 Deferred income taxes 38.7 72.7 Goodwill, net 695.3 675.6 Other intangible assets, net 65.4 18.4 Other assets, net 83.9 111.2 Total other assets 897.3 908.2 Total assets $3,349.9 $3,416.5 LIABILITIES AND STOCKHOLDERS’ EQUITY Current Liabilities Short-term debt $ 7.8 $ 6.6 Accounts payable 229.9 216.4 Accrued income taxes 111.9 110.0 Other accrued liabilities 704.0 626.6 Total current liabilities 1,053.6 959.6 Noncurrent Liabilities Long-term debt 283.6 403.9 Other noncurrent liabilities 216.8 220.9 Total noncurrent liabilities 500.4 624.8 Commitments and Contingencies  (see Note 15) $6.50 Cumulative Redeemable Preferred Stock, at redemption value 360.0 360.0 Minority interest 12.3 10.2 Stockholders’ Equity Common stock, $.01 par value; 650,000,000 shares Class A authorized; shares issued:  133,616,710 in 2003 and 131,567,986 in 2002; 240,000,000 shares Class B authorized;  shares issued and outstanding: 107,462,533 in 2003 and 108,412,533 in 2002 2.4 2.4 Paid-in capital 293.7 268.8 Retained earnings 1,613.6 1,363.7 Accumulated other comprehensive income (loss) (53.1) (92.5) 1,856.6 1,542.4 Less: Treasury stock, at cost; 13,623,060 Class A shares at June 30, 2003 and  2,377,860 Class A shares at June 30, 2002 (433.0) (80.5) Total stockholders’ equity 1,423.6 1,461.9 Total liabilities and stockholders’ equity $3,349.9 $3,416.5