Stock Analysis on Net
Stock Analysis on Net

lululemon athletica inc. (NASDAQ:LULU)

$24.99

Balance Sheet: Liabilities and Stockholders’ Equity

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.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Paying user area

Try for free

lululemon athletica inc. pages available for free this week:

The data is hidden behind: . Unhide it.

Get access

This is a one-time payment. There is no automatic renewal.

We accept:

Visa Mastercard American Express Maestro Discover JCB PayPal Google Pay
Visa Secure Mastercard Identity Check American Express SafeKey

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

US$ in thousands

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).

Total liabilities exhibited a consistent upward trend from 2021 through 2026, increasing from US$1,626,649 thousand to US$3,494,903 thousand. This growth was mirrored by a substantial increase in total stockholders’ equity, rising from US$2,558,566 thousand in 2021 to US$4,961,840 thousand in 2026. Consequently, the overall size of the company, as measured by total liabilities and stockholders’ equity, experienced significant expansion over the analyzed period.

Current Liabilities
Current liabilities demonstrated a marked increase between 2021 and 2025, growing from US$883,178 thousand to US$1,839,630 thousand. While growth slowed in 2026, current liabilities remained elevated at US$1,887,548 thousand. A significant contributor to this increase was the unredeemed gift card liability, which rose steadily from US$155,848 thousand to US$316,632 thousand. Accrued compensation and related expenses also showed substantial growth initially, peaking in 2024 before declining slightly in 2025 and 2026. Current operating lease liabilities also increased consistently throughout the period.
Non-Current Liabilities
Non-current liabilities also increased consistently throughout the period, from US$743,471 thousand in 2021 to US$1,607,355 thousand in 2026. The most significant driver of this growth was non-current operating lease liabilities, which more than doubled from US$632,590 thousand to US$1,499,717 thousand. Deferred income tax liabilities experienced fluctuations, peaking in 2025 before decreasing in 2026.
Specific Accrued Liabilities
Several accrued liability accounts exhibited notable changes. Accrued operating expenses increased significantly between 2021 and 2023, then decreased in 2024, before rising again in 2025 and 2026. Accrued duty showed a similar pattern, with increases followed by a substantial rise in 2025 and 2026. Accrued freight fluctuated, peaking in 2022 before declining, and then increasing again in 2025. The emergence of accrued digital marketing expenses in 2024, and their subsequent growth, indicates increasing investment in this area.
Stockholders’ Equity Components
Within stockholders’ equity, retained earnings constituted the largest component and experienced consistent growth, increasing from US$2,346,428 thousand to US$4,522,581 thousand. Additional paid-in capital also increased steadily, though at a slower rate. Accumulated other comprehensive loss remained negative throughout the period, and its magnitude increased significantly in 2025 before decreasing in 2026. Common stock remained relatively stable.

Overall, the financial position of the company strengthened considerably between 2021 and 2026, as evidenced by the growth in both liabilities and stockholders’ equity. The increasing reliance on operating leases and the growth in accrued liabilities warrant continued monitoring. The substantial increase in retained earnings suggests strong profitability and effective capital management.