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.

Deckers Outdoor Corp., consolidated balance sheet: assets

US$ in thousands

	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021	Mar 31, 2020	Mar 31, 2019	Mar 31, 2018
Cash and cash equivalents	981,795)	843,527)	1,089,361)	649,436)	589,692)	429,970)
Trade accounts receivable, net of allowances	301,511)	302,688)	215,718)	185,596)	178,602)	143,704)
Inventories	532,852)	506,796)	278,242)	311,620)	278,842)	299,602)
Prepaid expenses	33,788)	25,610)	16,924)	17,760)	19,901)	17,639)
Other current assets	55,523)	55,264)	44,244)	21,548)	26,028)	17,599)
Income tax receivable	4,784)	18,243)	6,310)	8,151)	2,340)	2,176)
Current assets	1,910,253)	1,752,128)	1,650,799)	1,194,111)	1,095,405)	910,690)
Property and equipment, net of accumulated depreciation	266,679)	222,449)	206,210)	209,037)	213,796)	220,162)
Operating lease assets	213,302)	182,459)	186,991)	243,522)	—)	—)
Goodwill	13,990)	13,990)	13,990)	13,990)	13,990)	13,990)
Other intangible assets, net of accumulated amortization	37,457)	39,688)	41,945)	48,016)	51,494)	57,850)
Deferred tax assets, net	72,592)	64,217)	37,194)	28,233)	30,870)	38,381)
Other assets	41,930)	57,319)	30,576)	28,209)	21,651)	23,306)
Long-term assets	645,950)	580,122)	516,906)	571,007)	331,801)	353,689)
Total assets	2,556,203)	2,332,250)	2,167,705)	1,765,118)	1,427,206)	1,264,379)

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 financial data reveals several notable trends in the company's asset composition and liquidity positions over the six-year period ending in March 2023.

Cash and cash equivalents: There is a consistent increase in cash and cash equivalents from approximately 430 million USD in 2018 to nearly 982 million USD in 2023, with a pronounced jump observed between 2020 and 2021. This indicates strengthening liquidity and improved cash reserves over the years.
Trade accounts receivable, net of allowances: Trade receivables have steadily risen from 144 million USD in 2018 to approximately 301 million USD in 2023, reflecting growth in credit sales or an expanding customer base. The values plateau between 2022 and 2023, suggesting stabilization.
Inventories: Inventory levels exhibit fluctuations, initially decreasing from around 300 million USD in 2018 to about 278 million USD in 2019 and 2021, but then rising sharply to over 532 million USD by 2023. The surge post-2021 could point to stockpiling, possibly in anticipation of higher sales or supply chain considerations.
Prepaid expenses: Prepaid expenses have increased moderately over the period, from roughly 18 million USD in 2018 to approximately 34 million USD in 2023. The growth indicates higher advance payments or contracted services.
Other current assets: Other current assets more than tripled, from about 18 million USD in 2018 to around 56 million USD in 2023, with the largest increases occurring between 2019 and 2022. This rise may represent a growing component of short-term assets outside traditional categories.
Income tax receivable: Amounts receivable from income taxes witness substantial growth, especially in 2022, reaching 18 million USD, although this amount sharply declines to under 5 million USD by 2023. This volatility could be attributable to timing differences in tax payments and refunds.
Current assets: Total current assets have exhibited a strong upward trajectory, increasing from approximately 911 million USD in 2018 to over 1.9 billion USD in 2023. This growth aligns with increases in cash and equivalents, receivables, and inventories, underscoring expanded operational scale and liquidity.
Property and equipment, net of accumulated depreciation: Net property and equipment values slightly declined initially from 220 million USD in 2018 to about 206 million USD in 2021 before rising again to nearly 267 million USD by 2023. The increase in the final years suggests recent capital investments or asset additions.
Operating lease assets: Operating lease assets were introduced in 2020 at approximately 244 million USD and though they decreased to around 182 million USD in 2021 and 2022, a rebound to 213 million USD occurred in 2023. This pattern may reflect changes in leasing arrangements or asset utilization.
Goodwill: Goodwill remains constant at 14 million USD throughout the period, indicating no impairment or acquisition-related changes impacting this category.
Other intangible assets, net of accumulated amortization: Other intangible assets steadily decreased from approximately 58 million USD in 2018 to about 37 million USD in 2023, suggesting ongoing amortization and no significant additions to intangible assets.
Deferred tax assets, net: Deferred tax assets decline from 38 million USD in 2018 to a low near 28 million USD in 2020, before rising to a peak of around 73 million USD in 2023. The increase in later years points to growing temporary differences or tax loss carryforwards.
Other assets: Other assets fluctuate during the period, generally increasing from 23 million USD in 2018 to a peak near 57 million USD in 2022, followed by a decrease to about 42 million USD in 2023. This variation suggests changing compositions or valuation adjustments.
Long-term assets: Long-term assets show a significant rise from approximately 354 million USD in 2018 to nearly 646 million USD in 2023, with a marked increase recorded in 2020. This growth reflects investment in fixed assets, leases, intangibles, and deferred taxes, contributing to the firm's asset base expansion.
Total assets: Total assets increased steadily from about 1.26 billion USD in 2018 to approximately 2.56 billion USD in 2023. This doubling of asset size indicates robust growth, driven primarily by increases in both current and long-term assets, supporting broader operational growth over the analysis period.

Assets: Selected Items

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Deckers Outdoor Corp. (NYSE:DECK)

Balance Sheet: Assets

Assets: Selected Items

Current Assets: Selected Items