Adjustments to Current Assets
Adjustments to Total Assets
Adjustments to Current Liabilities
Adjustments to Total Liabilities
Adjustments to Stockholders’ Equity
Adjustments to Capitalization Table
Adjustments to Revenues
Adjustments to Reported Income

Ulta Beauty Inc., adjusted current assets

US$ in thousands

	Jan 28, 2023	Jan 29, 2022	Jan 30, 2021	Feb 1, 2020	Feb 2, 2019	Feb 3, 2018
As Reported
Current assets	2,709,304)	2,281,183)	2,514,777)	2,055,317)	1,914,861)	1,693,743)
Adjustments
Add: Allowance for doubtful accounts	1,076)	1,005)	768)	1,363)	651)	1,371)
After Adjustment
Adjusted current assets	2,710,380)	2,282,188)	2,515,545)	2,056,680)	1,915,512)	1,695,114)

Based on: 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), 10-K (reporting date: 2018-02-03).

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Ulta Beauty Inc., adjusted total assets

US$ in thousands

	Jan 28, 2023	Jan 29, 2022	Jan 30, 2021	Feb 1, 2020	Feb 2, 2019	Feb 3, 2018
As Reported
Total assets	5,370,411)	4,764,379)	5,089,969)	4,863,872)	3,191,172)	2,908,687)
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	2,285,412)	2,234,521)
Add: Allowance for doubtful accounts	1,076)	1,005)	768)	1,363)	651)	1,371)
After Adjustment
Adjusted total assets	5,371,487)	4,765,384)	5,090,737)	4,865,235)	5,477,235)	5,144,579)

Based on: 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), 10-K (reporting date: 2018-02-03).

¹ Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

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Ulta Beauty Inc., adjusted current liabilities

US$ in thousands

	Jan 28, 2023	Jan 29, 2022	Jan 30, 2021	Feb 1, 2020	Feb 2, 2019	Feb 3, 2018
As Reported
Current liabilities	1,681,775)	1,558,010)	1,343,713)	1,137,261)	823,736)	642,166)
Adjustments
Less: Current deferred revenue	394,677)	353,579)	274,383)	237,535)	199,054)	113,136)
After Adjustment
Adjusted current liabilities	1,287,098)	1,204,431)	1,069,330)	899,726)	624,682)	529,030)

Based on: 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), 10-K (reporting date: 2018-02-03).

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Ulta Beauty Inc., adjusted total liabilities

US$ in thousands

	Jan 28, 2023	Jan 29, 2022	Jan 30, 2021	Feb 1, 2020	Feb 2, 2019	Feb 3, 2018
As Reported
Total liabilities	3,410,600)	3,229,006)	3,090,420)	2,961,778)	1,370,954)	1,134,470)
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	2,285,412)	2,234,521)
Less: Deferred tax liabilities²	55,346)	39,693)	65,359)	89,367)	83,864)	59,403)
Less: Deferred revenue	394,677)	353,579)	274,383)	237,535)	199,054)	113,136)
After Adjustment
Adjusted total liabilities	2,960,577)	2,835,734)	2,750,678)	2,634,876)	3,373,448)	3,196,452)

Based on: 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), 10-K (reporting date: 2018-02-03).

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Deferred tax liabilities. See details »

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Ulta Beauty Inc., adjusted stockholders’ equity

US$ in thousands

	Jan 28, 2023	Jan 29, 2022	Jan 30, 2021	Feb 1, 2020	Feb 2, 2019	Feb 3, 2018
As Reported
Stockholders’ equity	1,959,811)	1,535,373)	1,999,549)	1,902,094)	1,820,218)	1,774,217)
Adjustments
Less: Net deferred tax asset (liability)¹	(55,346)	(39,693)	(65,359)	(89,367)	(83,864)	(59,403)
Add: Allowance for doubtful accounts	1,076)	1,005)	768)	1,363)	651)	1,371)
Add: Deferred revenue	394,677)	353,579)	274,383)	237,535)	199,054)	113,136)
After Adjustment
Adjusted stockholders’ equity	2,410,910)	1,929,650)	2,340,059)	2,230,359)	2,103,787)	1,948,127)

Based on: 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), 10-K (reporting date: 2018-02-03).

¹ Net deferred tax asset (liability). See details »

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Ulta Beauty Inc., adjusted capitalization table

US$ in thousands

	Jan 28, 2023	Jan 29, 2022	Jan 30, 2021	Feb 1, 2020	Feb 2, 2019	Feb 3, 2018
As Reported
Total reported debt	—)	—)	—)	—)	—)	—)
Stockholders’ equity	1,959,811)	1,535,373)	1,999,549)	1,902,094)	1,820,218)	1,774,217)
Total reported capital	1,959,811)	1,535,373)	1,999,549)	1,902,094)	1,820,218)	1,774,217)
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	2,285,412)	2,234,521)
Add: Current operating lease liabilities²	283,293)	274,118)	253,415)	239,629)	—)	—)
Add: Non-current operating lease liabilities³	1,619,883)	1,572,638)	1,643,386)	1,698,718)	—)	—)
Adjusted total debt	1,903,176)	1,846,756)	1,896,801)	1,938,347)	2,285,412)	2,234,521)
Adjustments to Equity
Less: Net deferred tax asset (liability)⁴	(55,346)	(39,693)	(65,359)	(89,367)	(83,864)	(59,403)
Add: Allowance for doubtful accounts	1,076)	1,005)	768)	1,363)	651)	1,371)
Add: Deferred revenue	394,677)	353,579)	274,383)	237,535)	199,054)	113,136)
Adjusted stockholders’ equity	2,410,910)	1,929,650)	2,340,059)	2,230,359)	2,103,787)	1,948,127)
After Adjustment
Adjusted total capital	4,314,086)	3,776,406)	4,236,860)	4,168,706)	4,389,199)	4,182,648)

Based on: 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), 10-K (reporting date: 2018-02-03).

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Current operating lease liabilities. See details »

³ Non-current operating lease liabilities. See details »

⁴ Net deferred tax asset (liability). See details »

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Ulta Beauty Inc., adjusted net sales

US$ in thousands

12 months ended:	Jan 28, 2023	Jan 29, 2022	Jan 30, 2021	Feb 1, 2020	Feb 2, 2019	Feb 3, 2018
As Reported
Net sales	10,208,580)	8,630,889)	6,151,953)	7,398,068)	6,716,615)	5,884,506)
Adjustment
Add: Increase (decrease) in deferred revenue	41,098)	79,196)	36,848)	38,481)	85,918)	—)
After Adjustment
Adjusted net sales	10,249,678)	8,710,085)	6,188,801)	7,436,549)	6,802,533)	5,884,506)

Based on: 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), 10-K (reporting date: 2018-02-03).

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Ulta Beauty Inc., adjusted net income

US$ in thousands

12 months ended:	Jan 28, 2023	Jan 29, 2022	Jan 30, 2021	Feb 1, 2020	Feb 2, 2019	Feb 3, 2018
As Reported
Net income	1,242,408)	985,837)	175,835)	705,945)	658,559)	555,234)
Adjustments
Add: Deferred income tax expense (benefit)¹	15,654)	(25,666)	(24,008)	5,503)	34,080)	(27,095)
Add: Increase (decrease) in allowance for doubtful accounts	71)	237)	(595)	712)	(720)	(708)
Add: Increase (decrease) in deferred revenue	41,098)	79,196)	36,848)	38,481)	85,918)	—)
Add: Other comprehensive income (loss)	—)	(56)	56)	—)	—)	—)
After Adjustment
Adjusted net income	1,299,231)	1,039,548)	188,136)	750,641)	777,837)	527,431)

Based on: 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), 10-K (reporting date: 2018-02-03).

¹ Deferred income tax expense (benefit). See details »

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Ulta Beauty Inc. (NASDAQ:ULTA)

Adjustments to Financial Statements

Adjustments to Current Assets

Adjustments to Total Assets

Adjustments to Current Liabilities

Adjustments to Total Liabilities

Adjustments to Stockholders’ Equity

Adjustments to Capitalization Table

Adjustments to Revenues

Adjustments to Reported Income