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.

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

US$ in thousands

	Feb 2, 2025	Jan 28, 2024	Jan 29, 2023	Jan 30, 2022	Jan 31, 2021	Feb 2, 2020
Accounts payable	271,406)	348,441)	172,732)	289,728)	172,246)	79,997)
Accrued operating expenses	166,745)	126,380)	169,429)	116,822)	71,648)	43,225)
Forward currency contract liabilities	74,638)	2,872)	25,625)	18,985)	18,766)	1,920)
Sales return allowances	73,892)	61,634)	55,528)	41,690)	32,560)	12,897)
Accrued freight	53,121)	41,241)	57,692)	71,390)	25,687)	—)
Accrued duty	45,400)	25,817)	21,046)	27,182)	17,404)	16,178)
Accrued digital marketing	45,392)	20,835)	—)	—)	—)	—)
Accrued capital expenditures	36,690)	31,936)	19,365)	9,616)	8,653)	5,457)
Accrued rent	17,962)	12,522)	12,223)	11,254)	8,559)	8,356)
Sales tax collected	16,967)	3,088)	20,183)	13,540)	15,246)	17,370)
Other	28,656)	22,230)	18,132)	20,321)	28,344)	13,582)
Accrued liabilities and other	559,463)	348,555)	399,223)	330,800)	226,867)	118,985)
Accrued compensation and related expenses	204,543)	326,110)	248,167)	204,921)	130,171)	133,688)
Current operating lease liabilities	275,154)	249,270)	207,972)	188,996)	166,091)	128,497)
Current income taxes payable	183,126)	12,098)	174,221)	133,852)	8,357)	26,436)
Unredeemed gift card liability	308,352)	306,479)	251,478)	208,195)	155,848)	120,413)
Other current liabilities	37,586)	40,308)	38,405)	48,842)	23,598)	12,402)
Current liabilities	1,839,630)	1,631,261)	1,492,198)	1,405,334)	883,178)	620,418)
Non-current operating lease liabilities	1,300,637)	1,154,012)	862,362)	692,056)	632,590)	611,464)
Non-current income taxes payable	—)	15,864)	28,555)	38,074)	43,150)	48,226)
Deferred income tax liabilities	98,188)	29,522)	55,084)	53,352)	58,755)	43,432)
Other non-current liabilities	40,790)	29,201)	20,040)	13,616)	8,976)	5,596)
Non-current liabilities	1,439,615)	1,228,599)	966,041)	797,098)	743,471)	708,718)
Total liabilities	3,279,245)	2,859,860)	2,458,239)	2,202,432)	1,626,649)	1,329,136)
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	581)	606)	611)	616)	626)	621)
Additional paid-in capital	638,190)	575,369)	474,645)	422,507)	388,667)	355,541)
Retained earnings	4,109,717)	3,920,362)	2,926,127)	2,512,840)	2,346,428)	1,820,637)
Accumulated other comprehensive loss	(424,441)	(264,256)	(252,584)	(195,917)	(177,155)	(224,581)
Stockholders’ equity	4,324,047)	4,232,081)	3,148,799)	2,740,046)	2,558,566)	1,952,218)
Total liabilities and stockholders’ equity	7,603,292)	7,091,941)	5,607,038)	4,942,478)	4,185,215)	3,281,354)

Based on: 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), 10-K (reporting date: 2020-02-02).

Liabilities

Total liabilities exhibited a consistent upward trend over the reported periods, rising from approximately $1.33 billion to $3.28 billion. This increase reflects growth in both current and non-current liabilities.

Current liabilities increased from about $620 million to $1.84 billion, showing significant fluctuations in accounts payable, which peaked at around $348 million before slightly decreasing. Accrued operating expenses generally increased, with a minor decline observed in the penultimate period.

Notably, some components such as accrued freight and accrued compensation showed variability but trended upward overall. The accrued digital marketing liability appeared only starting in 2024, increasing notably by 2025.

Current operating lease liabilities rose steadily, reaching $275 million by the latest period. Current income taxes payable fluctuated considerably, indicating varying tax obligations year over year.

Unredeemed gift card liabilities continuously increased, suggesting rising prepaid sales or customer engagement through gift cards.

Non-current liabilities similarly climbed, with operating lease liabilities growing substantially to over $1.3 billion. Deferred income tax liabilities and other non-current liabilities increased markedly, though non-current income taxes payable declined and then disappeared from the latest period.

Stockholders’ Equity

Stockholders’ equity increased notably over the years, from approximately $1.95 billion to $4.32 billion, driven mainly by increasing retained earnings and additional paid-in capital.

Retained earnings showed strong growth, more than doubling from about $1.82 billion to over $4.1 billion, indicating sustained profitability or earnings retention.

Additional paid-in capital also rose steadily, reflecting capital injections or stock issuance.

The accumulated other comprehensive loss expanded in magnitude, from a negative $225 million to a negative $424 million, indicating growing unrealized losses or adjustments in equity components that are excluded from net income.

Common stock value remained relatively stable, with a slight decrease in par value amount over time, suggesting limited activity in share issuance or repurchase at par value.

Total Liabilities and Equity

The combined total of liabilities and stockholders’ equity showed a consistent increase, nearly doubling from roughly $3.28 billion to $7.6 billion, reflecting expansion in the company’s balance sheet size.

Additional Observations

Several accrued liabilities categories, including accrued capital expenditures, accrued rent, and accrued compensation, displayed upward trends, signifying growing operating activities and related obligations.

The sizable increase in current and non-current operating lease liabilities suggests expanded lease commitments, potentially due to store or facility expansions.

Volatility in current income tax payables could indicate fluctuating taxable income or changing tax planning strategies.

Overall, the financial data depicts a company undergoing significant growth in both operational scale and financial obligations, accompanied by strong retained earnings accumulation implying ongoing profitability.

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lululemon athletica inc. (NASDAQ:LULU)

Balance Sheet: Liabilities and Stockholders’ Equity