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Bed Bath & Beyond Inc. (NASDAQ:BBBY)

This company has been moved to the archive! The financial data has not been updated since September 30, 2022.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

Bed Bath & Beyond Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Aug 27, 2022 May 28, 2022 Feb 26, 2022 Nov 27, 2021 Aug 28, 2021 May 29, 2021 Feb 27, 2021 Nov 28, 2020 Aug 29, 2020 May 30, 2020 Feb 29, 2020 Nov 30, 2019 Aug 31, 2019 Jun 1, 2019 Mar 2, 2019 Dec 1, 2018 Sep 1, 2018 Jun 2, 2018 Mar 3, 2018 Nov 25, 2017 Aug 26, 2017 May 27, 2017 Feb 25, 2017 Nov 26, 2016 Aug 27, 2016 May 28, 2016
Accounts payable 16.79 16.50 17.00 16.05 16.34 14.70 15.27 12.38 13.83 12.41 12.12 15.11 13.57 13.35 16.65 20.62 18.66 15.44 17.01 20.24 17.22 17.14 17.22 22.42 17.88 17.40
Accrued expenses and other current liabilities 8.45 11.11 10.32 11.48 8.48 8.37 9.85 10.00 9.22 7.93 8.67 8.62 7.78 7.39 9.49 10.53 10.23 10.21 8.99 8.13 7.18 7.41 7.07 8.04 7.10 7.17
Merchandise credit and gift card liabilities 7.03 6.57 6.36 5.55 5.13 5.11 4.84 4.36 4.34 4.26 4.37 4.21 4.31 4.29 5.16 4.39 4.50 4.69 4.76 4.47 4.69 4.65 4.52 4.21 4.62 4.66
Current operating lease liabilities 6.91 6.77 6.75 6.15 5.77 5.74 5.58 5.59 6.25 7.09 5.94 5.73 5.76 5.14 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Liabilities related to assets held-for-sale 0.00 0.00 0.00 0.00 0.00 0.00 0.00 6.42 0.00 0.34 0.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Current income taxes payable 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.27 0.31 0.00 0.00 0.00 0.00 0.00 0.23 1.70 0.87 0.00 0.35 0.82
Current liabilities 39.18% 40.95% 40.44% 39.23% 35.71% 33.92% 35.54% 38.74% 33.64% 32.02% 31.66% 33.68% 31.42% 30.43% 31.62% 35.55% 33.39% 30.34% 30.76% 32.84% 29.33% 30.91% 29.69% 34.67% 29.95% 30.05%
Other liabilities 2.45 2.24 2.00 1.24 1.23 1.29 1.27 1.76 2.77 2.65 2.63 2.31 2.31 2.31 6.02 5.41 5.84 6.16 6.13 7.25 7.59 7.56 7.81 7.50 7.94 7.68
Noncurrent operating lease liabilities 31.70 31.56 29.39 27.10 26.53 25.26 23.38 21.91 24.19 23.29 23.35 21.85 22.90 22.22 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Income taxes payable 1.97 1.82 1.78 1.79 1.68 1.70 1.59 0.54 0.59 0.63 0.60 0.52 0.53 0.60 0.75 0.72 0.74 0.82 0.89 0.92 0.96 0.97 0.99 1.06 1.15 1.15
Long-term debt 37.07 27.88 23.00 20.85 19.44 19.54 18.44 17.02 16.00 22.42 19.11 18.58 18.80 18.63 22.65 19.80 20.39 21.28 21.19 20.75 21.99 21.70 21.79 20.62 22.36 22.67
Noncurrent liabilities 73.20% 63.51% 56.17% 50.99% 48.89% 47.79% 44.68% 41.24% 43.55% 48.99% 45.68% 43.26% 44.54% 43.75% 29.41% 25.93% 26.96% 28.25% 28.21% 28.92% 30.55% 30.22% 30.59% 29.18% 31.45% 31.51%
Total liabilities 112.38% 104.45% 96.61% 90.21% 84.60% 81.72% 80.22% 79.98% 77.19% 81.01% 77.35% 76.93% 75.95% 74.19% 61.03% 61.48% 60.35% 58.59% 58.97% 61.76% 59.87% 61.13% 60.28% 63.85% 61.41% 61.56%
Preferred stock, $0.01 par value; no shares issued or outstanding 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Common stock, $0.01 par value 0.07 0.07 0.07 0.06 0.06 0.06 0.05 0.05 0.05 0.04 0.04 0.04 0.04 0.04 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05
Additional paid-in capital 48.28 45.33 43.58 39.38 36.56 36.48 33.33 29.44 29.35 28.27 27.82 26.90 27.17 26.77 32.25 27.98 28.64 29.69 29.23 28.37 29.82 29.19 28.85 27.05 29.08 29.21
Retained earnings 191.62 188.09 188.40 173.69 166.49 168.08 158.36 146.11 138.34 130.91 133.17 130.56 132.91 133.69 169.13 151.11 155.56 161.98 161.11 155.38 164.10 160.82 160.73 148.68 159.63 159.57
Treasury stock, at cost -251.33 -236.98 -227.76 -202.50 -186.83 -185.59 -171.11 -154.65 -144.09 -139.30 -137.55 -133.74 -135.34 -133.92 -161.57 -139.83 -143.86 -149.56 -148.68 -144.99 -153.32 -150.42 -149.22 -138.87 -149.46 -149.67
Accumulated other comprehensive loss -1.03 -0.96 -0.90 -0.84 -0.88 -0.74 -0.86 -0.93 -0.83 -0.93 -0.83 -0.70 -0.73 -0.77 -0.89 -0.79 -0.73 -0.74 -0.69 -0.57 -0.53 -0.77 -0.69 -0.76 -0.70 -0.72
Shareholders’ equity (deficit) -12.38% -4.45% 3.39% 9.79% 15.40% 18.28% 19.78% 20.02% 22.81% 18.99% 22.65% 23.07% 24.05% 25.81% 38.97% 38.52% 39.65% 41.41% 41.03% 38.24% 40.13% 38.87% 39.72% 36.15% 38.59% 38.44%
Total liabilities and shareholders’ equity (deficit) 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2022-08-27), 10-Q (reporting date: 2022-05-28), 10-K (reporting date: 2022-02-26), 10-Q (reporting date: 2021-11-27), 10-Q (reporting date: 2021-08-28), 10-Q (reporting date: 2021-05-29), 10-K (reporting date: 2021-02-27), 10-Q (reporting date: 2020-11-28), 10-Q (reporting date: 2020-08-29), 10-Q (reporting date: 2020-05-30), 10-K (reporting date: 2020-02-29), 10-Q (reporting date: 2019-11-30), 10-Q (reporting date: 2019-08-31), 10-Q (reporting date: 2019-06-01), 10-K (reporting date: 2019-03-02), 10-Q (reporting date: 2018-12-01), 10-Q (reporting date: 2018-09-01), 10-Q (reporting date: 2018-06-02), 10-K (reporting date: 2018-03-03), 10-Q (reporting date: 2017-11-25), 10-Q (reporting date: 2017-08-26), 10-Q (reporting date: 2017-05-27), 10-K (reporting date: 2017-02-25), 10-Q (reporting date: 2016-11-26), 10-Q (reporting date: 2016-08-27), 10-Q (reporting date: 2016-05-28).

The financial structure exhibits a profound shift from a balanced capital composition toward a state of insolvency. Total liabilities as a percentage of total liabilities and shareholders' equity grew steadily from 61.56% in May 2016 to 112.38% by August 2022. This trajectory indicates that total obligations eventually exceeded the total value of assets, resulting in a negative equity position.

Liability Composition and Trends
Current liabilities showed a gradual upward trend, rising from approximately 30% in 2016 to a peak of 40.95% in May 2022. Accounts payable fluctuated but generally trended downward from 17.40% to 16.79% over the full period, while merchandise credit and gift card liabilities saw a late-period increase, reaching 7.03% by August 2022.
Noncurrent liabilities experienced the most aggressive growth, increasing from 31.51% in May 2016 to 73.20% by August 2022. This was driven primarily by a surge in long-term debt, which remained stable near 20-22% for several years before spiking to 37.07% in the final quarter. Additionally, operating lease liabilities became a significant component of the balance sheet starting in 2019, with noncurrent lease obligations rising to 31.70% by August 2022.
Shareholders' Equity Erosion
Shareholders' equity declined precipitously from 38.44% in May 2016 to a deficit of -12.38% by August 2022. This erosion was not driven by a lack of retained earnings, which actually increased from 159.57% to 191.62% over the period, but rather by a massive expansion in treasury stock.
Treasury stock at cost expanded from -149.67% in May 2016 to -251.33% in August 2022. The magnitude of these share repurchases effectively neutralized the growth in retained earnings and additional paid-in capital, eventually driving the total equity into negative territory.

The convergence of rising long-term debt, increasing lease obligations, and aggressive treasury stock acquisitions resulted in a precarious financial position. By the end of the analyzed period, the reliance on debt and liabilities to fund operations had completely eclipsed the equity base.

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