Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
lululemon athletica inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 10-Q (reporting date: 2025-05-04), 10-K (reporting date: 2025-02-02), 10-Q (reporting date: 2024-10-27), 10-Q (reporting date: 2024-07-28), 10-Q (reporting date: 2024-04-28), 10-K (reporting date: 2024-01-28), 10-Q (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-29), 10-Q (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-K (reporting date: 2022-01-30), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-11-01), 10-Q (reporting date: 2020-08-02), 10-Q (reporting date: 2020-05-03), 10-K (reporting date: 2020-02-02), 10-Q (reporting date: 2019-11-03), 10-Q (reporting date: 2019-08-04), 10-Q (reporting date: 2019-05-05).
- Current Liabilities
- The proportion of current liabilities relative to total liabilities and stockholders’ equity showed some fluctuations over the periods analyzed. Starting at 20.42% in May 2019, it peaked at 28.43% in January 2022, marking the highest proportion during this timeframe. After this peak, the current liabilities percentage generally decreased, ending at 21.16% in May 2025. This suggests variability in short-term obligations, with a notable increase around early 2022 potentially indicating higher operational demands or short-term financial adjustments during that period.
- Accounts Payable
- Accounts payable as a percentage of total liabilities and equity fluctuated moderately, starting from 3.58% in May 2019 and exhibiting a gradual increase reaching a local maximum of 6.56% in May 2022. Afterward, it decreased again to approximately 4.09% by May 2025. This pattern indicates shifts in vendor payment practices or credit terms, reaching a peak in mid-2022 before normalizing.
- Accrued Liabilities and Other
- This category showed a significant increase starting mid-2020, from around 0.31% in May 2020, sharply rising to over 7% from 2021 onward, with a slight decline toward mid-2025. The jump corresponds with a material change in the company’s accrued liabilities, possibly reflecting increased operational expenses, reserves, or adjustments in accrual accounting practices.
- Accrued Compensation and Related Expenses
- The accrued compensation and related expenses varied with no strong upward or downward trend, ranging between a low of about 1.94% in July 2024 to peaks near 4.6% in January 2024. The fluctuations might relate to payroll cycles, bonus accruals, or headcount changes over time, reflecting some periodic variability in employee-related obligations.
- Operating Lease Liabilities
- Current operating lease liabilities showed a gradual decline from 5.16% in May 2019 to around 3.5% in the mid-2020s, indicating reduced short-term lease commitments. Conversely, non-current operating lease liabilities decreased from 21.83% in May 2019 to approximately 14–16% between 2020 and early 2023, then rose steadily to 19.18% by May 2025. This suggests a shift from short-term to longer-term lease obligations or restructuring of lease contracts over time.
- Income Taxes Payable
- Current income taxes payable showed high variability with spikes in August 2020 (2.15%) and January 2023 (3.11%), suggesting periods of higher tax liabilities or settlements. Non-current income tax payable consistently decreased from 1.55% in May 2019 to near zero by the mid-2020s, indicating a reduction in deferred tax liabilities or reassessment of long-term tax exposures.
- Unredeemed Gift Card Liability
- This liability hovered between approximately 2.63% and 4.49% over the analyzed quarters without a clear long-term trend, indicating a relatively stable proportion of outstanding gift card obligations relative to total financing structure.
- Other Current Liabilities
- Initially higher at over 4% in 2019 and early 2020, other current liabilities sharply decreased around mid-2020 to values near 0.5–1%, maintaining lower levels throughout the remainder of the period. This might reflect reclassification or payoff of miscellaneous current obligations.
- Total Liabilities
- Total liabilities as a percentage of the aggregate funding structure decreased from 44.51% in May 2019 to a low of 38.2% in April 2024, followed by an increase to around 42.27% by May 2025. The decline may indicate deleveraging or an increase in equity funding, while the later rise suggests a renewed increment in liabilities.
- Stockholders’ Equity
- Stockholders’ equity showed an inverse trend to total liabilities, rising from 55.49% in May 2019 to a peak of 61.8% in April 2024, then declining to 57.73% by May 2025, reflecting changes in retained earnings and other equity components influencing the capital structure.
- Retained Earnings
- Retained earnings represented the largest component of equity, generally increasing over the periods from 52.03% in May 2019 to peaks above 57% in April 2024, before slightly declining thereafter. The growth is consistent with accumulated profits over time, supporting strengthened equity.
- Additional Paid-in Capital
- This element steadily decreased from 12.88% in May 2019 to below 8.5% around 2025, indicating possible redemption, repurchase, or amortization of contributed capital over the period analyzed.
- Accumulated Other Comprehensive Loss
- Accumulated other comprehensive loss consistently showed negative values, moving from -9.44% in May 2019 to less negative figures around -3.08% in January 2021 but subsequently increasing in negative magnitude to approximately -5.58% by early 2025. This reflects fluctuations in unrealized gains or losses on certain investments or hedging activities impacting equity negatively.
- Non-current Liabilities
- Non-current liabilities exhibited a downward trend from 24.09% in May 2019 to below 17% in early 2020s, followed by a rebound to above 21% by May 2025. This pattern may reflect amortization or repayments of long-term debt followed by new borrowings or liability recognition towards the end of the period.