Name: Ulta Beauty Inc. (NASDAQ:ULTA) | Balance Sheet: Assets (Quarterly)
Creator: Stock Analysis on Net

Balance Sheet: Assets
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

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Ulta Beauty Inc., consolidated balance sheet: assets (quarterly data)

US$ in thousands

	Jul 29, 2023	Apr 29, 2023	Jan 28, 2023	Oct 29, 2022	Jul 30, 2022	Apr 30, 2022	Jan 29, 2022	Oct 30, 2021	Jul 31, 2021	May 1, 2021	Jan 30, 2021	Oct 31, 2020	Aug 1, 2020	May 2, 2020	Feb 1, 2020	Nov 2, 2019	Aug 3, 2019	May 4, 2019	Feb 2, 2019	Nov 3, 2018	Aug 4, 2018	May 5, 2018	Feb 3, 2018	Oct 28, 2017	Jul 29, 2017	Apr 29, 2017
Cash and cash equivalents	388,627)	636,449)	737,877)	250,628)	434,226)	654,486)	431,560)	605,053)	770,144)	947,456)	1,046,051)	560,902)	1,157,318)	1,043,540)	392,325)	208,843)	177,398)	326,831)	409,251)	296,944)	237,107)	231,886)	277,445)	46,787)	92,860)	321,725)
Short-term investments	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	110,000)	110,000)	—)	150,000)	195,000)	—)	—)	149,000)	237,193)	120,000)	60,000)	180,000)	150,000)
Receivables, net	174,444)	190,282)	199,422)	200,304)	180,514)	192,754)	233,682)	169,212)	154,416)	154,342)	193,109)	136,271)	127,992)	88,691)	139,337)	112,888)	107,263)	110,046)	136,168)	102,353)	103,666)	100,274)	99,719)	82,934)	67,593)	62,936)
Merchandise inventories, net	1,815,539)	1,751,235)	1,603,451)	2,114,669)	1,666,130)	1,570,552)	1,499,218)	1,916,343)	1,443,685)	1,353,565)	1,168,215)	1,439,098)	1,368,543)	1,340,566)	1,293,701)	1,616,920)	1,315,999)	1,250,037)	1,214,329)	1,484,565)	1,219,685)	1,136,816)	1,096,424)	1,349,714)	1,144,702)	1,048,431)
Prepaid expenses and other current assets	110,524)	108,014)	130,246)	137,642)	123,014)	114,075)	110,814)	105,584)	108,145)	108,393)	107,402)	99,810)	102,713)	97,041)	103,567)	118,343)	131,171)	137,173)	138,116)	119,817)	103,618)	96,530)	98,666)	101,403)	98,215)	89,880)
Prepaid income taxes	30,114)	—)	38,308)	42,572)	39,029)	—)	5,909)	37,501)	18,544)	—)	—)	8,928)	42,622)	48,982)	16,387)	40,474)	38,769)	245)	16,997)	22,294)	17,082)	—)	1,489)	5,450)	9,124)	—)
Current assets	2,519,248)	2,685,980)	2,709,304)	2,745,815)	2,442,913)	2,531,867)	2,281,183)	2,833,693)	2,494,934)	2,563,756)	2,514,777)	2,245,009)	2,799,188)	2,728,820)	2,055,317)	2,097,468)	1,920,600)	2,019,332)	1,914,861)	2,025,973)	1,830,158)	1,802,699)	1,693,743)	1,646,288)	1,592,494)	1,672,972)
Property and equipment, net	1,073,144)	1,019,978)	1,009,273)	967,039)	912,017)	909,543)	914,476)	908,665)	909,507)	960,440)	995,795)	1,042,262)	1,077,825)	1,148,341)	1,205,524)	1,233,412)	1,219,948)	1,205,919)	1,226,029)	1,257,775)	1,212,978)	1,190,969)	1,189,453)	1,172,682)	1,095,135)	1,020,853)
Operating lease right-of-use assets	1,549,146)	1,559,560)	1,561,263)	1,556,940)	1,509,246)	1,488,040)	1,482,256)	1,464,533)	1,470,166)	1,487,616)	1,504,614)	1,510,030)	1,548,239)	1,583,490)	1,537,565)	1,529,524)	1,499,556)	1,479,132)	—)	—)	—)	—)	—)	—)	—)	—)
Goodwill	10,870)	10,870)	10,870)	10,870)	10,870)	10,870)	10,870)	10,870)	10,870)	10,870)	10,870)	10,870)	10,870)	10,870)	10,870)	10,870)	10,870)	10,870)	10,870)	9,084)	—)	—)	—)	—)	—)	—)
Other intangible assets, net	718)	1,015)	1,312)	844)	1,075)	1,307)	1,538)	1,770)	2,001)	2,233)	2,465)	2,696)	2,927)	3,159)	3,391)	3,622)	3,854)	4,085)	4,317)	6,985)	—)	—)	—)	—)	—)	—)
Deferred compensation plan assets	40,087)	37,002)	35,382)	31,529)	33,393)	35,978)	38,409)	36,403)	36,396)	34,279)	33,223)	30,141)	28,789)	25,388)	27,849)	26,269)	24,665)	23,910)	20,511)	21,397)	19,585)	18,494)	16,827)	15,903)	14,588)	13,776)
Other long-term assets	55,547)	61,314)	43,007)	18,512)	36,480)	34,431)	35,647)	31,833)	30,711)	28,350)	28,225)	29,986)	29,283)	30,483)	23,356)	27,683)	30,882)	23,105)	14,584)	11,477)	10,628)	10,087)	8,664)	—)	—)	—)
Long-term assets	2,729,512)	2,689,739)	2,661,107)	2,585,734)	2,503,081)	2,480,169)	2,483,196)	2,454,074)	2,459,651)	2,523,788)	2,575,192)	2,625,985)	2,697,933)	2,801,731)	2,808,555)	2,831,380)	2,789,775)	2,747,021)	1,276,311)	1,306,718)	1,243,191)	1,219,550)	1,214,944)	1,188,585)	1,109,723)	1,034,629)
Total assets	5,248,760)	5,375,719)	5,370,411)	5,331,549)	4,945,994)	5,012,036)	4,764,379)	5,287,767)	4,954,585)	5,087,544)	5,089,969)	4,870,994)	5,497,121)	5,530,551)	4,863,872)	4,928,848)	4,710,375)	4,766,353)	3,191,172)	3,332,691)	3,073,349)	3,022,249)	2,908,687)	2,834,873)	2,702,217)	2,707,601)

Total assets exhibited a substantial upward trajectory over the analyzed period, increasing from $2.71 billion in April 2017 to $5.25 billion by July 2023. This growth was driven by both an expansion in current assets and a structural increase in long-term assets, reflecting a significant scale-up in the organization's asset base.

Liquidity and Cash Management: Cash and cash equivalents demonstrated high volatility, with a notable surge beginning in May 2020, where balances peaked at approximately $1.16 billion in August 2020. Following this peak, cash levels fluctuated but generally remained higher than the 2017-2019 averages, before trending downward to $388.6 million by July 2023. Short-term investments were utilized sporadically, appearing most consistently between 2017 and 2020 before disappearing from the balance sheet in later periods.
Inventory and Working Capital Trends: Merchandise inventories, net, showed a consistent long-term growth trend, rising from $1.05 billion in April 2017 to a peak of $2.11 billion in October 2022, ending the period at $1.82 billion. This steady increase suggests an expansion in product offering or a strategic increase in safety stock. Net receivables also trended upward, growing from $62.9 million in 2017 to $174.4 million in 2023, indicating an increase in credit extended to customers or partners.
Structural Shifts in Long-Term Assets: A significant shift in the asset structure occurred in May 2019, marked by the introduction of operating lease right-of-use assets valued at $1.48 billion. This accounting change resulted in a sharp increase in total long-term assets, which jumped from $1.28 billion in February 2019 to $2.75 billion in May 2019. These lease assets remained relatively stable through 2023, fluctuating between $1.46 billion and $1.58 billion.
Fixed Asset Evolution: Net property and equipment grew steadily from $1.02 billion in early 2017 to a peak of $1.26 billion in November 2018. Subsequently, a gradual downward trend was observed, with values declining to approximately $908 million by October 2021, followed by a moderate recovery to $1.07 billion by July 2023. This pattern suggests a shift in capital allocation or a transition toward leased rather than owned physical infrastructure.
Other Asset Components: Deferred compensation plan assets showed a steady and uninterrupted increase, rising from $13.8 million in 2017 to $40.1 million in 2023. Conversely, other intangible assets, net, experienced a consistent decline, falling from $6.99 million in November 2018 to $718 thousand by July 2023, reflecting the systematic amortization of these assets.

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Ulta Beauty Inc. (NASDAQ:ULTA)

Balance Sheet: AssetsQuarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data