Name: GameStop Corp. (NYSE:GME) | 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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GameStop Corp., consolidated balance sheet: liabilities and stockholders’ equity

US$ in thousands

	Feb 3, 2024	Jan 28, 2023	Jan 29, 2022	Jan 30, 2021	Feb 1, 2020	Feb 2, 2019
Accounts payable	324,000)	531,300)	471,000)	341,800)	380,800)	1,051,900)
Customer-related liabilities	155,000)	192,200)	247,500)	251,700)	233,400)	268,700)
Deferred revenue	128,600)	211,900)	142,300)	119,900)	116,500)	124,200)
Employee benefits, compensation and related taxes	54,600)	95,600)	97,900)	104,400)	105,200)	140,700)
Income and other taxes payable	24,800)	28,300)	30,700)	47,100)	34,800)	72,700)
Other accrued liabilities	49,000)	74,300)	150,500)	103,700)	127,600)	173,700)
Accrued liabilities and other current liabilities	412,000)	602,300)	668,900)	626,800)	617,500)	780,000)
Current portion of operating lease liabilities	187,700)	194,700)	210,700)	227,400)	239,400)	—)
Current portion of long-term debt	10,800)	10,800)	4,100)	121,700)	—)	349,200)
Borrowings under revolving line of credit	—)	—)	—)	25,000)	—)	—)
Current liabilities	934,500)	1,339,100)	1,354,700)	1,342,700)	1,237,700)	2,181,100)
Deferred income taxes	—)	—)	—)	—)	700)	100)
Long-term debt, excluding current portion	17,700)	28,700)	40,500)	216,000)	419,800)	471,600)
Operating lease liabilities, excluding current portion	386,600)	382,400)	393,700)	456,700)	529,300)	—)
Other long-term liabilities	31,600)	40,900)	107,900)	20,500)	20,700)	55,300)
Long-term liabilities	435,900)	452,000)	542,100)	693,200)	970,500)	527,000)
Total liabilities	1,370,400)	1,791,100)	1,896,800)	2,035,900)	2,208,200)	2,708,100)
Class A common stock, $.001 par value	100)	100)	100)	100)	100)	100)
Additional paid-in capital	1,634,900)	1,613,600)	1,577,500)	11,000)	—)	27,700)
Accumulated other comprehensive loss	(83,600)	(71,900)	(68,700)	(49,300)	(78,800)	(54,300)
Retained earnings (loss)	(212,800)	(219,500)	93,600)	474,900)	690,200)	1,362,700)
Stockholders’ equity	1,338,600)	1,322,300)	1,602,500)	436,700)	611,500)	1,336,200)
Total liabilities and stockholders’ equity	2,709,000)	3,113,400)	3,499,300)	2,472,600)	2,819,700)	4,044,300)

Based on: 10-K (reporting date: 2024-02-03), 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02).

The company's financial position between February 2019 and February 2024 is characterized by a systematic reduction in total liabilities and a fundamental transformation in the composition of stockholders' equity.

Liability Trends and Deleveraging: Total liabilities decreased from 2.71 billion USD in 2019 to 1.37 billion USD in 2024. This contraction is primarily attributed to the aggressive elimination of long-term debt, which fell from 471.6 million USD to 17.7 million USD over the period. Current liabilities also experienced a significant reduction, dropping from a peak of 2.18 billion USD in 2019 to 934.5 million USD in 2024. While most debt obligations were reduced, operating lease liabilities remained relatively stable, fluctuating between 382 million USD and 529 million USD for the long-term portion.
Equity Composition and Capitalization: Stockholders' equity demonstrated significant volatility, reaching a period low of 436.7 million USD in 2021 before rising to 1.34 billion USD by 2024. A pivotal shift occurred in 2022, where additional paid-in capital surged from 11 million USD in 2021 to 1.58 billion USD, indicating a massive infusion of capital through equity issuance. This capitalization offset a continuous decline in retained earnings, which transitioned from a positive balance of 1.36 billion USD in 2019 to a deficit of 212.8 million USD by 2024, signaling sustained net losses over the observed timeframe.
Short-Term Obligation Patterns: Accounts payable showed a downward trend, decreasing from 1.05 billion USD in 2019 to 324 million USD in 2024. Similarly, customer-related liabilities and employee benefit obligations trended lower toward the end of the period. The current portion of long-term debt was nearly eradicated, falling from 349.2 million USD in 2019 to 10.8 million USD in 2024.

The overall financial trajectory indicates a strategic shift toward a deleveraged balance sheet. The organization has transitioned from a state of internal funding via retained earnings to a state where solvency and operational liquidity are maintained through external capital contributions and the reduction of overall debt burdens.

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