Balance Sheet: Assets

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.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Dollar General Corp., consolidated balance sheet: assets

US$ in thousands

	Feb 2, 2024	Feb 3, 2023	Jan 28, 2022	Jan 29, 2021	Jan 31, 2020	Feb 1, 2019
Cash and cash equivalents	537,283)	381,576)	344,829)	1,376,577)	240,320)	235,487)
Accounts receivable	—)	—)	—)	—)	—)	—)
Merchandise inventories	6,994,266)	6,760,733)	5,614,325)	5,247,477)	4,676,848)	4,097,004)
Income taxes receivable	112,262)	135,775)	97,394)	90,760)	76,537)	57,804)
Prepaid expenses and other current assets	366,913)	302,925)	247,295)	199,405)	184,163)	272,725)
Current assets	8,010,724)	7,581,009)	6,303,843)	6,914,219)	5,177,868)	4,663,020)
Net property and equipment	6,087,722)	5,236,309)	4,346,127)	3,899,997)	3,278,359)	2,970,806)
Operating lease assets	11,098,228)	10,670,014)	10,092,930)	9,473,330)	8,796,183)	—)
Goodwill	4,338,589)	4,338,589)	4,338,589)	4,338,589)	4,338,589)	4,338,589)
Other intangible assets, net	1,199,700)	1,199,700)	1,199,750)	1,199,870)	1,200,006)	1,200,217)
Other assets, net	60,628)	57,746)	46,132)	36,619)	34,079)	31,406)
Noncurrent assets	22,784,867)	21,502,358)	20,023,528)	18,948,405)	17,647,216)	8,541,018)
Total assets	30,795,591)	29,083,367)	26,327,371)	25,862,624)	22,825,084)	13,204,038)

Based on: 10-K (reporting date: 2024-02-02), 10-K (reporting date: 2023-02-03), 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01).

Total assets experienced substantial growth over the analyzed period, increasing from $13.20 billion in February 2019 to $30.80 billion by February 2024. This expansion represents a more than twofold increase in the total asset base, driven by both the scaling of current operational assets and a significant increase in noncurrent assets.

Current Asset Composition and Trends: Current assets grew from $4.66 billion in 2019 to $8.01 billion in 2024. This trajectory was primarily driven by merchandise inventories, which increased steadily from $4.10 billion to $6.99 billion. Cash and cash equivalents exhibited significant volatility, characterized by a sharp peak of $1.38 billion in January 2021 followed by a correction and subsequent gradual rise to $537.28 million by February 2024. Prepaid expenses and other current assets also showed a general upward trend, increasing from $272.73 million to $366.91 million over the period.
Fixed Asset and Infrastructure Investment: Net property and equipment demonstrated consistent annual growth, rising from $2.97 billion in 2019 to $6.09 billion in 2024. This indicates a sustained capital investment in physical infrastructure and store expansion. Operating lease assets, which first appeared in the data in January 2020 at $8.80 billion, continued to grow to $11.10 billion by February 2024, representing a significant portion of the total asset base.
Intangible Assets and Noncurrent Valuation: Goodwill remained completely static at $4.34 billion throughout the entire six-year period, suggesting an absence of new major acquisitions or impairment charges. Other intangible assets, net, showed a slight, marginal decline from $1.20 billion in 2019 to $1.20 billion in 2024. Noncurrent assets overall surged from $8.54 billion to $22.78 billion, a shift largely influenced by the recognition of operating lease assets starting in 2020.
Overall Asset Structure Analysis: The balance sheet transitioned from a structure where current assets represented approximately 35% of total assets in 2019 to approximately 26% in 2024. The growth in noncurrent assets, specifically in property, equipment, and leasehold interests, indicates a strategic shift toward a more asset-heavy operational model to support long-term growth.

Dollar General Corp. (NYSE:DG)

Balance Sheet: Assets

Assets: Selected Items

Current Assets: Selected Items