Balance Sheet: Assets

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.

lululemon athletica inc., consolidated balance sheet: assets

US$ in thousands

	Feb 1, 2026	Feb 2, 2025	Jan 28, 2024	Jan 29, 2023	Jan 30, 2022	Jan 31, 2021
Cash and cash equivalents	1,807,202)	1,984,336)	2,243,971)	1,154,867)	1,259,871)	1,150,517)
Accounts receivable, net	190,657)	120,173)	124,769)	132,906)	77,001)	62,399)
Inventories	1,700,753)	1,442,081)	1,323,602)	1,447,367)	966,481)	647,230)
Prepaid and receivable income taxes	352,469)	182,253)	183,733)	185,641)	118,928)	139,126)
Prepaid expenses	144,744)	147,680)	137,203)	142,003)	140,945)	82,164)
Forward currency contract assets	30,996)	76,848)	647)	16,707)	19,077)	17,364)
Other current assets	35,880)	26,931)	46,652)	79,962)	32,550)	25,579)
Prepaid expenses and other current assets	211,620)	251,459)	184,502)	238,672)	192,572)	125,107)
Current assets	4,262,701)	3,980,302)	4,060,577)	3,159,453)	2,614,853)	2,124,379)
Property and equipment, net	2,033,720)	1,780,617)	1,545,811)	1,269,614)	927,710)	745,687)
Right-of-use operating lease assets	1,630,181)	1,416,256)	1,265,610)	969,419)	803,543)	734,835)
Goodwill	184,911)	159,518)	24,083)	24,144)	386,880)	386,877)
Intangible assets, net	6,283)	11,673)	—)	21,961)	71,299)	80,080)
Deferred income tax assets	24,037)	17,085)	9,176)	6,402)	6,091)	6,731)
Cloud computing arrangement implementation costs	192,031)	161,759)	133,597)	114,700)	89,334)	74,631)
Security deposits	61,117)	44,076)	31,825)	28,447)	24,083)	23,154)
Other	61,762)	32,006)	21,262)	12,898)	18,685)	8,841)
Other non-current assets	314,910)	237,841)	186,684)	156,045)	132,102)	106,626)
Non-current assets	4,194,042)	3,622,990)	3,031,364)	2,447,585)	2,327,625)	2,060,836)
Total assets	8,456,743)	7,603,292)	7,091,941)	5,607,038)	4,942,478)	4,185,215)

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).

Total assets experienced consistent growth over the analyzed period, increasing from US$4,185,215 thousand in January 2021 to US$8,456,743 thousand in February 2026. This growth was primarily driven by increases in both current and non-current assets. While growth was consistent, the rate of increase varied across the years.

Cash and Cash Equivalents: Cash and cash equivalents demonstrated volatility. After increasing from 2021 to 2022, it decreased in 2023 before experiencing a substantial rise in 2024. This was followed by declines in both 2025 and 2026, though remaining significantly above the 2021 level. This suggests active cash management and potentially strategic investments or returns of capital.
Current Assets: Current assets exhibited a general upward trend, nearly doubling from US$2,124,379 thousand in 2021 to US$4,262,701 thousand in 2026. The most significant increase occurred between 2022 and 2023, and again between 2023 and 2024. A slight dip occurred in 2025, but was recovered in 2026.
Accounts Receivable: Accounts receivable increased significantly from 2021 to 2023, more than doubling. Growth slowed in 2024 and 2025, with a further increase observed in 2026. This suggests a potential correlation with sales growth, but also warrants monitoring to ensure efficient collection practices.
Inventories: Inventories showed a substantial increase from 2021 to 2023, indicating growing sales or a build-up of stock. Inventory levels decreased slightly in 2024, then increased again in 2025 and 2026, suggesting a continued need for robust inventory management.
Non-Current Assets: Non-current assets also demonstrated consistent growth, increasing from US$2,060,836 thousand in 2021 to US$4,194,042 thousand in 2026. This growth was more consistent than that of current assets.
Property and Equipment, Net: Net property and equipment increased steadily throughout the period, indicating ongoing investment in fixed assets. The rate of increase accelerated from 2022 onwards.
Goodwill: Goodwill experienced a significant decrease in 2023, followed by a substantial increase in 2025 and 2026. This suggests potential acquisitions or impairments impacting goodwill valuation.
Right-of-Use Operating Lease Assets: Right-of-use operating lease assets increased consistently throughout the period, reflecting an increasing reliance on leased assets. The growth rate was similar to that of property and equipment.
Cloud Computing Arrangement Implementation Costs: Cloud computing arrangement implementation costs increased steadily, indicating ongoing investment in digital infrastructure. This suggests a strategic focus on technology and cloud-based solutions.

Overall, the asset base expanded considerably over the analyzed timeframe. The composition of assets shifted, with notable changes in cash, goodwill, and investments in property, equipment, and cloud computing. Continued monitoring of these trends is recommended to assess the company’s long-term financial health and strategic direction.

lululemon athletica inc. (NASDAQ:LULU)

Balance Sheet: Assets

Assets: Selected Items

Current Assets: Selected Items