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

Jan. 28, 2023

Summary of significant accounting policies


	January 28,		January 29,
(In thousands)	2023		2022
Cash	$	651,367	$	165,122
Short-term investments		—		199,939
Receivables from third-party financial institutions for credit card and debit card transactions		86,510		66,499
Cash and cash equivalents	$	737,877	$	431,560

Schedule of receivables


	January 28,		January 29,
(In thousands)	2023		2022
Vendor allowances	$	109,899	$	114,853
Gift card		42,065		34,655
Royalties and other credit card		19,738		11,898
Employee retention credit (1)		3,760		56,426
Other		25,036		16,855
Allowance for doubtful accounts		(1,076)		(1,005)
Receivables, net	$	199,422	$	233,682

(1)

The Company qualified for various relief measures resulting from the Coronavirus Aid, Relief and Economic Security (CARES) Act, including the ERC which allowed for a refundable tax credit against certain employment taxes on qualified wages. During the fiscal year ended January 29, 2022, there was $4,021 related to the ERC recognized as a reduction of the associated costs within selling, general and administrative expenses on the consolidated statements of income.

Schedule of advertising costs


	Fiscal year ended
	January 28,		January 29,		January 30,
(In thousands)	2023		2022		2021
Advertising expense, net	$	374,730	$	387,794	$	281,573
Advertising expense, net as a percentage of net sales		3.7%		4.5%		4.6%