Ulta Beauty, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Summary of significant accounting policies (Tables)

Summary of significant accounting policies (Tables)

12 Months Ended

Feb. 01, 2020

Summary of significant accounting policies

Schedule of cash and cash equivalents


		February 1,			February 2,
(In thousands)		2020			2019
Cash		$	212,876		$	351,553
Short-term investments			110,000			—
Receivables from third-party financial institutions for credit card and debit card transactions			69,449			57,698
Cash and cash equivalents		$	392,325		$	409,251

Schedule of estimated useful lives or expected lease term of property and equipment


Equipment and fixtures	1 to 10 years
Leasehold improvements	10 years
Electronic equipment and software	3 to 5 years

Schedule of total advertising costs, exclusive of incentives from vendors and start-up advertising expense


		February 1,			February 2,			February 3,
(In thousands)		2020			2019			2018
Advertising costs		$	317,865		$	294,489		$	259,423
Advertising expense as a percentage of sales			4.3%			4.4%			4.4%

Schedule of the impact to the Company's opening consolidated balance sheet

The impact to the Company’s opening consolidated balance sheet as of February 3, 2019 was as follows:


		As Reported			Effect of Adopting			Balance at
(In thousands)		February 2, 2019			ASC 842			February 3, 2019
Assets								(Unaudited)
Receivables, net		$	136,168		$	(17,468)		$	118,700
Prepaid expenses and other current assets			138,116			(25,260)			112,856
Property and equipment, net			1,226,029			(16,983)			1,209,046
Operating lease assets			—			1,460,866			1,460,866
Liabilities and stockholders’ equity
Accrued liabilities			220,666			(1,460)			219,206
Current operating lease liabilities			—			210,721			210,721
Deferred rent			434,980			(434,980)			—
Non-current operating lease liabilities			—			1,629,249			1,629,249
Retained earnings			1,105,863			(2,375)			1,103,488