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.

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

US$ in thousands

	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021	Mar 31, 2020	Mar 31, 2019	Mar 31, 2018
Short-term borrowings	—)	—)	—)	638)	603)	578)
Trade accounts payable	265,605)	327,487)	231,632)	147,892)	124,974)	93,939)
Accrued payroll	63,781)	67,553)	79,152)	42,309)	54,462)	55,695)
Current portion of operating lease liabilities	50,765)	50,098)	46,768)	49,091)	—)	—)
Other accrued expenses	86,753)	81,400)	68,995)	46,281)	47,963)	24,446)
Income tax payable	17,322)	12,426)	36,920)	11,104)	19,283)	11,006)
Value added tax payable	13,154)	2,720)	4,901)	3,631)	3,239)	3,502)
Current liabilities	497,380)	541,684)	468,368)	300,946)	250,524)	189,166)
Mortgage payable	—)	—)	—)	30,263)	30,901)	31,504)
Long-term operating lease liabilities	195,723)	171,972)	176,274)	215,724)	—)	—)
Income tax liability	62,032)	54,259)	60,094)	63,547)	60,616)	64,735)
Deferred rent obligations	—)	—)	—)	—)	21,107)	22,499)
Other long-term liabilities	35,335)	25,510)	18,744)	14,518)	18,928)	15,696)
Long-term liabilities	293,090)	251,741)	255,112)	324,052)	131,552)	134,434)
Total liabilities	790,470)	793,425)	723,480)	624,998)	382,076)	323,600)
Common stock, $0.01 par value	262)	270)	279)	280)	291)	304)
Additional paid-in capital	232,932)	210,825)	203,310)	191,451)	178,227)	167,587)
Retained earnings	1,571,574)	1,352,685)	1,257,379)	973,948)	889,266)	785,871)
Accumulated other comprehensive loss	(39,035)	(24,955)	(16,743)	(25,559)	(22,654)	(12,983)
Stockholders’ equity	1,765,733)	1,538,825)	1,444,225)	1,140,120)	1,045,130)	940,779)
Total liabilities and stockholders’ equity	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).

Short-term borrowings: Reported values show a slight increase from 578 thousand USD in 2018 to 638 thousand USD in 2020, with no data available from 2021 onwards. The limited and incomplete data restricts definitive trend analysis.
Trade accounts payable: A consistent upward trend is observed, rising from 93.9 million USD in 2018 to a peak of 327.5 million USD in 2022, followed by a decrease to 265.6 million USD in 2023. This suggests growing operational activity until 2022, with a possible reduction or improved cash management in 2023.
Accrued payroll: Values show fluctuation, starting at 55.7 million USD in 2018, dipping to around 42.3 million USD in 2020, then peaking sharply to 79.2 million USD in 2021 before decreasing in subsequent years to 63.8 million USD in 2023. This variability indicates changes in workforce costs or payroll timing.
Operating lease liabilities (current portion): Data is missing before 2020. From 2020 to 2023, current lease liabilities appear stable, fluctuating slightly between 46.8 million and 50.8 million USD, indicating steady short-term lease obligations during this period.
Other accrued expenses: Show a robust increase from 24.4 million USD in 2018 to 86.8 million USD in 2023, with steady growth year-over-year. This may reflect rising obligations not classified elsewhere, possibly linked to increased operational scale or accrual policies.
Income tax payable: Exhibits volatility, increasing from 11.0 million USD in 2018 to 19.3 million USD in 2019, then declining in 2020, peaking again at 36.9 million USD in 2021, and settling at 17.3 million USD in 2023. This pattern may mirror fluctuating pre-tax earnings or changes in tax payments and assessments.
Value added tax payable: Relatively stable with minor fluctuations between 3.2 million and 4.9 million USD through 2021, then a dip in 2022, and a significant increase to 13.2 million USD in 2023, possibly indicating changes in VAT-related transactions or timing of VAT remittances.
Current liabilities: Overall increase from 189.2 million USD in 2018 to a peak of 541.7 million USD in 2022, followed by a decrease to 497.4 million USD in 2023. This rise aligns with increases in trade payables and accrued expenses, indicating expanding short-term obligations with some reduction in the most recent year.
Mortgage payable: Decreasing slightly from 31.5 million USD in 2018 to 30.3 million USD in 2020, with no data after that. Limited data restricts trend insights.
Long-term operating lease liabilities: Data available from 2020 onwards shows a decrease from 215.7 million USD in 2020 to 171.9 million USD in 2022, then a rise to 195.7 million USD in 2023. This reflects some variability in long-term lease commitments, possibly due to new leases or lease terminations.
Income tax liability: Relatively stable over six years, ranging from approximately 54.3 million to 64.0 million USD, with a slight downward trend through 2022 and a moderate increase in 2023. Indicates consistent tax-related long-term obligations.
Deferred rent obligations: Data only for 2018 and 2019 shows a decrease from 22.5 million USD to 21.1 million USD, with no data thereafter. Limited information precludes further analysis.
Other long-term liabilities: Generally increasing from 15.7 million USD in 2018 to 35.3 million USD in 2023, suggesting growing long-term obligations not elsewhere classified, potentially linked to deferred items or contingent liabilities.
Long-term liabilities: Sharp increase from 134.4 million USD in 2018 to 324.1 million USD in 2020, followed by a decline to around 251.7 million in 2022, and an uptick to 293.1 million USD in 2023. The spike in 2020 may relate to new lease accounting standards or financing activities, with some normalization in subsequent years.
Total liabilities: Substantial growth from 323.6 million USD in 2018 to a peak of 793.4 million USD in 2022, with a slight decrease to 790.5 million USD in 2023. This reflects expanding overall debt and obligations, mainly driven by increases in trade payables, accrued expenses, and lease liabilities.
Common stock, $0.01 par value: Gradual decrease from 304 thousand USD in 2018 to 262 thousand USD in 2023. The decline is modest and may relate to stock buybacks or adjustments in issued shares.
Additional paid-in capital: Continuous growth from 167.6 million USD in 2018 to 232.9 million USD in 2023, suggesting ongoing equity financing or retained capital contributions.
Retained earnings: Strong upward trend from 785.9 million USD in 2018 to 1.57 billion USD in 2023, reflecting sustained profitability and reinvestment of earnings over the period.
Accumulated other comprehensive loss: Increasing loss from -12.9 million USD in 2018 to -39.0 million USD in 2023, indicating growing unrealized losses or other comprehensive items such as foreign currency translation losses or pension adjustments.
Stockholders’ equity: Consistent increase from 940.8 million USD in 2018 to 1.77 billion USD in 2023. This growth is driven primarily by increasing retained earnings and additional paid-in capital, partially offset by accumulated other comprehensive loss.
Total liabilities and stockholders’ equity: Marked growth from 1.26 billion USD in 2018 to 2.56 billion USD in 2023, evidencing expansion in both liabilities and equity, consistent with the company’s overall growth and scaling of operations.

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Deckers Outdoor Corp. (NYSE:DECK)

Balance Sheet: Liabilities and Stockholders’ Equity