Name: Deckers Outdoor Corp. (NYSE:DECK) | Liabilities and Stockholders’ Equity
Creator: Stock Analysis on Net

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.

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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).

The financial position from 2018 to 2023 is characterized by a steady expansion of the balance sheet, with total liabilities and stockholders’ equity increasing from 1.26 billion US dollars to 2.56 billion US dollars. This growth is driven by a simultaneous rise in operational obligations and a significant accumulation of retained earnings.

Current Liabilities Trend: Current liabilities grew from 189.2 million US dollars in 2018 to 497.4 million US dollars in 2023. The primary driver of this increase is trade accounts payable, which rose from 93.9 million US dollars to 265.6 million US dollars over the period, peaking at 327.5 million US dollars in 2022. Other accrued expenses also showed a consistent upward trajectory, increasing from 24.4 million US dollars to 86.8 million US dollars. The emergence of current operating lease liabilities starting in 2020 at 49.1 million US dollars indicates a shift in accounting treatment for leases, remaining stable at approximately 50 million US dollars through 2023.
Long-term Liabilities Analysis: Long-term liabilities increased from 134.4 million US dollars in 2018 to 293.1 million US dollars in 2023. A significant structural change occurred in 2020, where long-term operating lease liabilities were recognized at 215.7 million US dollars, coinciding with the elimination of mortgage payables and deferred rent obligations. This suggest a transition to new lease accounting standards. Aside from lease obligations, other long-term liabilities trended upward, rising from 15.7 million US dollars in 2018 to 35.3 million US dollars in 2023.
Stockholders’ Equity and Capital Structure: Stockholders’ equity experienced robust growth, expanding from 940.8 million US dollars in 2018 to 1.77 billion US dollars in 2023. This expansion is almost entirely attributable to retained earnings, which grew from 785.9 million US dollars to 1.57 billion US dollars, signaling strong internal capital generation and profitability. While additional paid-in capital saw a modest increase, accumulated other comprehensive loss widened from negative 13.0 million US dollars to negative 39.0 million US dollars by 2023.

Overall, the capital structure reveals a conservative approach to leverage. Although total liabilities increased from 323.6 million US dollars to 790.5 million US dollars, the growth in equity has outpaced the growth in liabilities. The reliance on retained earnings as the primary source of equity growth suggests a high degree of financial self-sufficiency and a strengthening solvency position over the analyzed six-year period.

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