Stock Analysis on Net

lululemon athletica inc. (NASDAQ:LULU)

Adjustments to Financial Statements

Microsoft Excel

Adjustments to Total Assets

lululemon athletica inc., adjusted total assets

US$ in thousands

Microsoft Excel
Feb 2, 2025 Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021 Feb 2, 2020
As Reported
Total assets 7,603,292 7,091,941 5,607,038 4,942,478 4,185,215 3,281,354
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)1
Less: Deferred income tax assets2 17,085 9,176 6,402 6,091 6,731 31,435
After Adjustment
Adjusted total assets 7,586,207 7,082,765 5,600,636 4,936,387 4,178,484 3,249,919

Based on: 10-K (reporting date: 2025-02-02), 10-K (reporting date: 2024-01-28), 10-K (reporting date: 2023-01-29), 10-K (reporting date: 2022-01-30), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-02-02).

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

2 Deferred income tax assets. See details »


Adjustments to Current Liabilities

lululemon athletica inc., adjusted current liabilities

US$ in thousands

Microsoft Excel
Feb 2, 2025 Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021 Feb 2, 2020
As Reported
Current liabilities 1,839,630 1,631,261 1,492,198 1,405,334 883,178 620,418
Adjustments
Less: Current unredeemed gift card liability 308,352 306,479 251,478 208,195 155,848 120,413
After Adjustment
Adjusted current liabilities 1,531,278 1,324,782 1,240,720 1,197,139 727,330 500,005

Based on: 10-K (reporting date: 2025-02-02), 10-K (reporting date: 2024-01-28), 10-K (reporting date: 2023-01-29), 10-K (reporting date: 2022-01-30), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-02-02).


Adjustments to Total Liabilities

lululemon athletica inc., adjusted total liabilities

US$ in thousands

Microsoft Excel
Feb 2, 2025 Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021 Feb 2, 2020
As Reported
Total liabilities 3,279,245 2,859,860 2,458,239 2,202,432 1,626,649 1,329,136
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)1
Less: Deferred income tax liabilities2 98,188 29,522 55,084 53,352 58,755 43,432
Less: Unredeemed gift card liability 308,352 306,479 251,478 208,195 155,848 120,413
After Adjustment
Adjusted total liabilities 2,872,705 2,523,859 2,151,677 1,940,885 1,412,046 1,165,291

Based on: 10-K (reporting date: 2025-02-02), 10-K (reporting date: 2024-01-28), 10-K (reporting date: 2023-01-29), 10-K (reporting date: 2022-01-30), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-02-02).

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

2 Deferred income tax liabilities. See details »


Adjustments to Stockholders’ Equity

lululemon athletica inc., adjusted stockholders’ equity

US$ in thousands

Microsoft Excel
Feb 2, 2025 Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021 Feb 2, 2020
As Reported
Stockholders’ equity 4,324,047 4,232,081 3,148,799 2,740,046 2,558,566 1,952,218
Adjustments
Less: Net deferred income tax assets (liabilities)1 (81,103) (20,346) (48,682) (47,261) (52,024) (11,997)
Add: Unredeemed gift card liability 308,352 306,479 251,478 208,195 155,848 120,413
After Adjustment
Adjusted stockholders’ equity 4,713,502 4,558,906 3,448,959 2,995,502 2,766,438 2,084,628

Based on: 10-K (reporting date: 2025-02-02), 10-K (reporting date: 2024-01-28), 10-K (reporting date: 2023-01-29), 10-K (reporting date: 2022-01-30), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-02-02).

1 Net deferred income tax assets (liabilities). See details »


Adjustments to Capitalization Table

lululemon athletica inc., adjusted capitalization table

US$ in thousands

Microsoft Excel
Feb 2, 2025 Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021 Feb 2, 2020
As Reported
Total reported debt
Stockholders’ equity 4,324,047 4,232,081 3,148,799 2,740,046 2,558,566 1,952,218
Total reported capital 4,324,047 4,232,081 3,148,799 2,740,046 2,558,566 1,952,218
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)1
Add: Current operating lease liabilities2 275,154 249,270 207,972 188,996 166,091 128,497
Add: Non-current operating lease liabilities3 1,300,637 1,154,012 862,362 692,056 632,590 611,464
Adjusted total debt 1,575,791 1,403,282 1,070,334 881,052 798,681 739,961
Adjustments to Equity
Less: Net deferred income tax assets (liabilities)4 (81,103) (20,346) (48,682) (47,261) (52,024) (11,997)
Add: Unredeemed gift card liability 308,352 306,479 251,478 208,195 155,848 120,413
Adjusted stockholders’ equity 4,713,502 4,558,906 3,448,959 2,995,502 2,766,438 2,084,628
After Adjustment
Adjusted total capital 6,289,293 5,962,188 4,519,293 3,876,554 3,565,119 2,824,589

Based on: 10-K (reporting date: 2025-02-02), 10-K (reporting date: 2024-01-28), 10-K (reporting date: 2023-01-29), 10-K (reporting date: 2022-01-30), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-02-02).

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 income tax assets (liabilities). See details »


Adjustments to Revenues

lululemon athletica inc., adjusted net revenue

US$ in thousands

Microsoft Excel
12 months ended: Feb 2, 2025 Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021 Feb 2, 2020
As Reported
Net revenue 10,588,126 9,619,278 8,110,518 6,256,617 4,401,879 3,979,296
Adjustment
Add: Increase (decrease) in unredeemed gift card liability 1,873 55,001 43,283 52,347 35,435 21,001
After Adjustment
Adjusted net revenue 10,589,999 9,674,279 8,153,801 6,308,964 4,437,314 4,000,297

Based on: 10-K (reporting date: 2025-02-02), 10-K (reporting date: 2024-01-28), 10-K (reporting date: 2023-01-29), 10-K (reporting date: 2022-01-30), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-02-02).


Adjustments to Reported Income

lululemon athletica inc., adjusted net income

US$ in thousands

Microsoft Excel
12 months ended: Feb 2, 2025 Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021 Feb 2, 2020
As Reported
Net income 1,814,616 1,550,190 854,800 975,322 588,913 645,596
Adjustments
Add: Deferred income tax expense (benefit)1 58,379 (26,747) 9,400 (6,867) 34,125 24,394
Add: Increase (decrease) in unredeemed gift card liability 1,873 55,001 43,283 52,347 35,435 21,001
Add: Other comprehensive income (loss), net of tax (160,185) (11,672) (56,667) (18,762) 47,426 (7,773)
After Adjustment
Adjusted net income 1,714,683 1,566,772 850,816 1,002,040 705,899 683,218

Based on: 10-K (reporting date: 2025-02-02), 10-K (reporting date: 2024-01-28), 10-K (reporting date: 2023-01-29), 10-K (reporting date: 2022-01-30), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-02-02).

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