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. 29, 2022

Summary of significant accounting policies


	January 29,		January 30,
(In thousands)	2022		2021
Cash	$	165,122	$	887,299
Short-term investments		199,939		99,986
Receivables from third-party financial institutions for credit card and debit card transactions		66,499		58,766
Cash and cash equivalents	$	431,560	$	1,046,051

Schedule of receivables


	January 29,		January 30,
(In thousands)	2022		2021
Vendor allowances	$	114,853	$	90,271
Employee retention credit (1)		56,426		52,405
Gift card		34,655		27,020
Other		28,753		24,181
Allowance for doubtful accounts		(1,005)		(768)
Receivables, net	$	233,682	$	193,109

(1)

During the fiscal years ended January 29, 2022 and January 30, 2021, 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 years ended January 29, 2022 and January 30, 2021, there was $4,021 and $52,405, respectively, 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 29,		January 30,		February 1,
(In thousands)	2022		2021		2020
Advertising expense	$	387,794	$	281,573	$	317,865
Advertising expense as a percentage of net sales		4.5%		4.6%		4.3%