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The 10-K against last year's
149 changes: 20 added, 32 removed, 96 reworded, 1 quiet changes
10-K 0001001250-26-000041 (Aug 19, 2026) vs 10-K 0001001250-25-000099 (Aug 20, 2025)
The redline
The paragraph that changed most in each section
Marked against last year's 10-K:
cut words struck through, new words highlighted and underlined.
Legal Proceedings 247 words changed in this paragraph; it is 34% similar to last year's version.
On December 7, 2023 and January 22, 2024, the Company and its then Chief Executive Officer and Chief Financial Officer were named as defendants in separate purported securities class action complaints were filed in the United States District Court for the Southern District of New York. On February 20, 2024, those two purported securities class York against the Company and its then Chief Executive Officer and Chief Financial Officer. The actions were consolidated into one action. on February 20, 2024. On March 22, 2024, plaintiffs filed their a consolidated amended class action complaint, which alleges that defendants made materially false and misleading statements during the period February 3, 2022 to October 31, 2023 in press releases, the Company’s public filings and during conference calls with analysts that artificially inflated the price of the Company’s stock in violation complaint alleging violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. 1934 based on alleged materially false and misleading statements between February 3, 2022 and October 31, 2023. On March 31, 2025, the Court denied defendants' motion to dismiss. Defendants intend On April 2, 2026, the parties reached an agreement in principle to defend settle the securities class action vigorously. litigation. In light of these discussions, the Company recorded a loss contingency of $ 210 million relating to a potential settlement of the securities class action in Other accrued liabilities in the accompanying consolidated balance sheet during the fiscal 2026 third quarter, as well as recorded a receivable for the estimated probable amounts expected to be paid by insurance carriers. As of June 30, 2026, the total settlement of $ 210 million has been funded, which includes the amounts paid by the insurance carriers, and as such there are no amounts related to this matter reflected in the accompanying consolidated balance sheet. This matter is subject to final approval from the Court.
Source: Item 3, via Note 16 – COMMITMENTS AND CONTINGENCIES, 10-K 0001001250-26-000041 vs Item 3, via Note 17 – COMMITMENTS AND CONTINGENCIES, 10-K 0001001250-25-000099
MD&A 232 words changed in this paragraph; it is 34% similar to last year's version.
The effective tax rate for fiscal 2025 decreased 2026 increased approximately 5,590 7,370 basis points. The decrease extent of the year over year change was broadly impacted by the loss before income taxes in fiscal 2025. The increase was primarily attributable to the higher effective tax rate on income from our foreign operations of approximately 2,630 5,630 basis points, due to our geographical mix of earnings for fiscal 2025, earnings, including the establishment of new valuation allowances on certain foreign deferred tax assets. Further contributing to the increase in the effective tax rate was the unfavorable impact of the One Big Beautiful Bill Act, resulting from an increase in tax deductible interest expense which reduced U.S. taxable income and increased the excess foreign tax credits generated which require a valuation allowance of approximately 1,010 basis points, changes in unrecognized tax benefits related to transfer pricing matters impacting multiple tax jurisdictions of approximately 820 basis points, as well as the unfavorable impact associated with previously issued U.S. stock-based compensation of approximately 590 basis points. The overall increase in the effective tax rate is partially offset by the favorable year-over-year utilization of U.S. general foreign tax credits net of the prior year establishment of a valuation allowance against U.S. general foreign tax credit credits and research and development tax credit carryforwards of approximately 1,651 basis points, the impact of nondeductible goodwill impairment charges associated with the Too Faced reporting unit of approximately 800 basis points and the unfavorable impact associated with previously issued stock-based compensation of approximately 640 550 basis points. The loss before income taxes due to the goodwill and other intangible asset impairment charges, as well as the charges associated with restructuring and other activities and talcum litigation settlement agreements increased the impact of these tax adjustments.
Source: Item 7, 10-K 0001001250-26-000041 vs Item 7, 10-K 0001001250-25-000099
Accounting Policies 68 words changed in this paragraph; it is 37% similar to last year's version.
Effective for the Company - Company: The guidance became becomes effective for the Company’s first quarter of fiscal 2024 2029 and has been is applied on a retrospective basis, except for basis through a cumulative-effect adjustment to the requirement to disclose rollforward information annually which became effective for opening balance of retained earnings (prior reporting periods are not recast). Early adoption is permitted as of the Company’s fiscal year ended June 30, 2025 Form 10-K and has been applied on a prospective basis. beginning of an annual reporting period.
Source: 10-K text, Note 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, 10-K 0001001250-26-000041 vs 10-K text, Note 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, 10-K 0001001250-25-000099
Risk Factors 44 words changed in this paragraph; it is 76% similar to last year's version.
We continuously review acquisition and strategic opportunities that would expand our current product offerings, our distribution channels, increase the size and geographic scope of our operations or otherwise offer growth and operating efficiency opportunities. In addition, we periodically review our brand portfolio, and our strategy includes potential divestitures of certain brands as we rationalize product offerings. There can be no assurance we will be able to identify these strategic actions, be the successful bidder, and consummate such transactions on favorable terms, or otherwise realize the full intended benefit of such transactions. In addition, we periodically review our brand portfolio, and our strategy includes potential divestitures of certain brands as we rationalize product offerings.
Source: Item 1A, 10-K 0001001250-26-000041 vs Item 1A, 10-K 0001001250-25-000099
Every change, by type
Sentences and paragraphs added, removed or reworded
Sentences and paragraphs of EL's Risk Factors and MD&A, 10-K Aug 19, 2026 against 10-K Aug 20, 2025. Each links to the text at sec.gov.
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