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.

RH, consolidated balance sheet: assets

US$ in thousands

	Jan 28, 2023	Jan 29, 2022	Jan 30, 2021	Feb 1, 2020	Feb 2, 2019	Feb 3, 2018
Cash and cash equivalents	1,508,101)	2,177,889)	100,446)	47,658)	5,803)	17,907)
Restricted cash	3,662)	—)	—)	—)	—)	—)
Accounts receivable, net	59,763)	57,914)	59,474)	48,979)	40,224)	31,412)
Merchandise inventories	801,841)	734,289)	544,227)	438,696)	531,947)	527,026)
Capitalized catalog costs	26,522)	22,194)	19,067)	13,740)	16,178)	44,122)
Prepaid expenses	24,352)	31,502)	—)	—)	—)	—)
Vendor deposits	21,201)	19,610)	12,519)	11,258)	11,836)	9,701)
Federal and state tax receivable	12,322)	—)	—)	—)	—)	—)
Tenant allowance receivable	8,336)	15,355)	6,390)	—)	—)	—)
Value added tax (VAT) receivable	7,465)	4,529)	—)	—)	—)	—)
Right of return asset for merchandise	4,983)	6,429)	7,453)	5,746)	5,883)	—)
Interest income receivable	4,878)	—)	—)	—)	—)	—)
Promissory notes receivable, including interest	2,991)	8,401)	13,569)	—)	—)	—)
Insurance recovery receivable	—)	—)	—)	—)	50,000)	—)
Other current assets	26,247)	13,330)	38,339)	30,875)	20,822)	14,762)
Prepaid expense and other current assets	139,297)	121,350)	97,337)	61,619)	104,719)	68,585)
Current assets	2,512,664)	3,091,442)	801,484)	596,952)	682,693)	644,930)
Property and equipment, net	1,635,984)	1,227,920)	1,077,198)	967,599)	863,562)	800,698)
Operating lease right-of-use assets	527,246)	551,045)	456,164)	410,904)	—)	—)
Goodwill	141,048)	141,100)	141,100)	124,367)	124,379)	141,893)
Tradenames, trademarks and other intangible assets	74,633)	73,161)	71,663)	86,022)	86,022)	100,702)
Deferred tax assets	167,039)	56,843)	49,924)	45,005)	30,033)	23,311)
Equity method investments	101,468)	100,810)	100,603)	—)	—)	—)
Initial direct costs prior to lease commencement	51,249)	57,087)	36,770)	15,636)	—)	—)
Landlord assets under construction, net of tenant allowances	45,511)	204,013)	135,531)	122,679)	—)	—)
Capitalized cloud computing costs, net	21,529)	14,910)	7,254)	—)	—)	—)
Vendor deposits, non-current	10,593)	756)	—)	—)	—)	—)
Other deposits	7,143)	6,877)	5,287)	5,157)	5,068)	4,997)
Deferred financing fees	3,528)	4,123)	1,525)	2,602)	3,415)	4,446)
Deposits on asset under construction	—)	—)	—)	60,000)	—)	7,407)
Promissory note receivable, including interest	—)	—)	—)	5,354)	5,104)	—)
Other non-current assets	9,654)	10,383)	13,810)	3,417)	5,758)	4,482)
Other non-current assets	149,207)	298,149)	200,177)	214,845)	19,345)	21,332)
Non-current assets	2,796,625)	2,449,028)	2,096,829)	1,848,742)	1,123,341)	1,087,936)
Total assets	5,309,289)	5,540,470)	2,898,313)	2,445,694)	1,806,034)	1,732,866)

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).

Assets: Selected Items

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Balance sheet item	Description	The company
Current assets	Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.	RH current assets increased from 2021 to 2022 but then slightly decreased from 2022 to 2023.
Property and equipment, net	Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	RH property and equipment, net increased from 2021 to 2022 and from 2022 to 2023.
Non-current assets	Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer.	RH non-current assets increased from 2021 to 2022 and from 2022 to 2023.
Total assets	Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.	RH total assets increased from 2021 to 2022 but then slightly decreased from 2022 to 2023.

Current Assets: Selected Items

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Balance sheet item	Description	The company
Cash and cash equivalents	Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.	RH cash and cash equivalents increased from 2021 to 2022 but then slightly decreased from 2022 to 2023.
Accounts receivable, net	Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.	RH accounts receivable, net decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
Merchandise inventories	Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.	RH merchandise inventories increased from 2021 to 2022 and from 2022 to 2023.

RH (NYSE:RH)

Balance Sheet: Assets

Assets: Selected Items

Current Assets: Selected Items