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Deckers Outdoor Corp. (NYSE:DECK)

This company has been moved to the archive! The financial data has not been updated since February 5, 2024.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity

Deckers Outdoor Corp., common-size consolidated balance sheet: liabilities and stockholders’ equity

Microsoft Excel
Mar 31, 2023 Mar 31, 2022 Mar 31, 2021 Mar 31, 2020 Mar 31, 2019 Mar 31, 2018
Short-term borrowings 0.00 0.00 0.00 0.04 0.04 0.05
Trade accounts payable 10.39 14.04 10.69 8.38 8.76 7.43
Accrued payroll 2.50 2.90 3.65 2.40 3.82 4.40
Current portion of operating lease liabilities 1.99 2.15 2.16 2.78 0.00 0.00
Other accrued expenses 3.39 3.49 3.18 2.62 3.36 1.93
Income tax payable 0.68 0.53 1.70 0.63 1.35 0.87
Value added tax payable 0.51 0.12 0.23 0.21 0.23 0.28
Current liabilities 19.46% 23.23% 21.61% 17.05% 17.55% 14.96%
Mortgage payable 0.00 0.00 0.00 1.71 2.17 2.49
Long-term operating lease liabilities 7.66 7.37 8.13 12.22 0.00 0.00
Income tax liability 2.43 2.33 2.77 3.60 4.25 5.12
Deferred rent obligations 0.00 0.00 0.00 0.00 1.48 1.78
Other long-term liabilities 1.38 1.09 0.86 0.82 1.33 1.24
Long-term liabilities 11.47% 10.79% 11.77% 18.36% 9.22% 10.63%
Total liabilities 30.92% 34.02% 33.38% 35.41% 26.77% 25.59%
Common stock, $0.01 par value 0.01 0.01 0.01 0.02 0.02 0.02
Additional paid-in capital 9.11 9.04 9.38 10.85 12.49 13.25
Retained earnings 61.48 58.00 58.01 55.18 62.31 62.15
Accumulated other comprehensive loss -1.53 -1.07 -0.77 -1.45 -1.59 -1.03
Stockholders’ equity 69.08% 65.98% 66.62% 64.59% 73.23% 74.41%
Total liabilities and stockholders’ equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2023-03-31), 10-K (reporting date: 2022-03-31), 10-K (reporting date: 2021-03-31), 10-K (reporting date: 2020-03-31), 10-K (reporting date: 2019-03-31), 10-K (reporting date: 2018-03-31).

The capital structure exhibits a strong reliance on equity financing, although total liabilities increased from 25.59% of total liabilities and stockholders’ equity in 2018 to 30.92% in 2023. A peak in total liabilities was observed in 2020 at 35.41%, which corresponded with the period's lowest equity position of 64.59%.

Current Liabilities Trends
Current liabilities shifted from 14.96% in 2018 to 19.46% in 2023, with a peak of 23.23% in 2022. This trend was primarily driven by trade accounts payable, which rose from 7.43% in 2018 to 10.39% in 2023, peaking at 14.04% in 2022. Conversely, accrued payroll showed a consistent downward trend, decreasing from 4.40% in 2018 to 2.50% in 2023.
Long-term Liabilities Composition
A significant structural change occurred in 2020 with the introduction of long-term operating lease liabilities, which appeared at 12.22% and settled at 7.66% by 2023. This coincides with the disappearance of mortgage payables and deferred rent obligations from the reporting. Income tax liabilities experienced a steady decline, moving from 5.12% in 2018 to 2.43% in 2023.
Stockholders’ Equity Analysis
Retained earnings remain the dominant component of the balance sheet, consistently representing a majority of the total capital structure, ranging between 55.18% and 62.31% over the six-year period. Additional paid-in capital showed a gradual decline from 13.25% in 2018 to 9.11% in 2023, indicating that organic growth via retained earnings has outpaced the relative impact of contributed capital. Accumulated other comprehensive loss remained a persistent negative factor, fluctuating between -0.77% and -1.59%.

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