Stock Analysis on Net
Stock Analysis on Net

lululemon athletica inc. (NASDAQ:LULU)

$24.99

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity

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lululemon athletica inc., common-size consolidated balance sheet: liabilities and stockholders’ equity

Microsoft Excel
Feb 1, 2026 Feb 2, 2025 Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021
Accounts payable
Accrued operating expenses
Accrued duty
Accrued digital marketing
Sales return allowances
Accrued credit card affiliate liabilities
Forward currency contract liabilities
Accrued capital expenditures
Accrued freight
Sales tax collected
Accrued rent
Other
Accrued liabilities and other
Accrued compensation and related expenses
Current operating lease liabilities
Current income taxes payable
Unredeemed gift card liability
Other current liabilities
Current liabilities
Non-current operating lease liabilities
Non-current income taxes payable
Deferred income tax liabilities
Other non-current liabilities
Non-current liabilities
Total liabilities
Undesignated preferred stock, $0.01 par value; none issued and outstanding
Exchangeable stock, no par value
Special voting stock, $0.000005 par value
Common stock, $0.005 par value
Additional paid-in capital
Retained earnings
Accumulated other comprehensive loss
Stockholders’ equity
Total liabilities and stockholders’ equity

Based on: 10-K (reporting date: 2026-02-01), 10-K (reporting date: 2025-02-02), 10-K (reporting date: 2024-01-28), 10-K (reporting date: 2023-01-29), 10-K (reporting date: 2022-01-30), 10-K (reporting date: 2021-01-31).

The composition of liabilities and stockholders’ equity exhibits several notable trends over the observed period. Current liabilities initially increased as a percentage of the total between 2021 and 2022, then decreased in 2023 and 2024, before stabilizing and showing a slight increase in the projected years of 2025 and 2026. Non-current liabilities demonstrate a more consistent, albeit modest, increase throughout the entire period. Consequently, total liabilities fluctuate but generally remain within a relatively narrow range as a percentage of the total, while stockholders’ equity shows a corresponding pattern.

Current Liabilities
Current liabilities rose significantly from 21.10% in 2021 to 28.43% in 2022, driven by increases in several components, most notably current income taxes payable and accrued freight. This was followed by a decrease to 23.00% in 2024. The composition within current liabilities shifts; while unredeemed gift card liability remains relatively stable, accrued compensation and related expenses decreased significantly in 2025 and 2026. The emergence and growth of accrued digital marketing and accrued credit card affiliate liabilities in the later years contribute to the current liability balance.
Non-Current Liabilities
Non-current liabilities show a steady increase from 17.76% in 2021 to 19.01% in 2026. This trend is primarily attributable to the consistent growth of non-current operating lease liabilities. Deferred income tax liabilities fluctuate, decreasing from 1.40% to 0.42% before increasing to 1.29% and then decreasing again to 0.62%.
Stockholders’ Equity
Stockholders’ equity decreased from 61.13% in 2021 to 55.44% in 2022, coinciding with the increase in current liabilities. It then recovers to 59.67% in 2024 and stabilizes around 57-59% through the forecast period. Within stockholders’ equity, retained earnings represent the largest component, consistently accounting for over 50% of the total. Accumulated other comprehensive loss is negative and fluctuates, impacting the overall stockholders’ equity position. Additional paid-in capital remains relatively stable.
Specific Accrued Liabilities
Several accrued liability accounts demonstrate volatility. Accrued freight experienced a substantial increase between 2021 and 2022, followed by a decline. Accrued duty also shows fluctuations, with a notable increase projected for 2026. Accrued compensation and related expenses decreased significantly in 2025 and 2026, potentially indicating changes in compensation strategies or timing of payments. The introduction of accrued digital marketing in 2024 and its subsequent growth suggests increasing investment in digital marketing activities.

Overall, the liability structure appears to be evolving, with a growing reliance on non-current liabilities, particularly operating leases. The fluctuations in current liabilities suggest responsiveness to operational needs and tax planning. The consistent presence of retained earnings as a significant portion of stockholders’ equity indicates profitability and reinvestment within the business.