The Michaels Companies, Inc. (MIK) financial statements (2021 and earlier)

Company profile

Business Address 3939 WEST JOHN CARPENTER FREEWAY
IRVING, TX 75063
State of Incorp. DE
Fiscal Year End January 31
SIC 5945 - Hobby, Toy, and Game Shops (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

1/31/2021
1/31/2020
1/31/2019
1/31/2018
1/31/2017
1/31/2016
1/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,194410246426299409378
Cash and cash equivalents1,194410246426299409378
Receivables143062302912
Inventory, net of allowances, customer advances and progress billings1,0071,0971,1091,1231,1281,003958
Inventory1,0071,0971,1091,1231,1281,003958
Deferred tax assets    38
Other undisclosed current assets57629998878686
Total current assets:2,2721,6001,5161,6771,5431,5001,462
Noncurrent Assets
Operating lease, right-of-use asset1,5951,610
Property, plant and equipment473430439420413379386
Intangible assets, net (including goodwill)1511611291411439494
Goodwill94941121191199494
Intangible assets, net (excluding goodwill)5766172224  
Deferred costs      41
Deferred income tax assets1918
Other noncurrent assets1819192812102
Deferred tax assets, net253537 11
Other undisclosed noncurrent assets     409
Total noncurrent assets:2,2562,238613623605524543
TOTAL ASSETS:4,5283,8382,1282,3002,1482,0232,005
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities1,375865908933993860847
Accounts payable859476485483517458447
Accrued liabilities489347379370397170176
Employee-related liabilities     119128
Taxes payable274144807810186
Interest and dividends payable     1210
Debt3413322525312525
Deferred revenue and credits  2018
Total current liabilities:1,7161,1969339581,024905890
Noncurrent Liabilities
Long-term debt and lease obligation3,8594,0022,6812,7022,7232,7453,124
Long-term debt, excluding current maturities2,4812,6442,6812,7022,7232,7453,124
Operating lease, liability1,3781,358
Liabilities, other than long-term debt151861411509998102
Deferred tax liabilities, net    9
Deferred income tax liabilities54 
Other liabilities9686141150999893
Total noncurrent liabilities:4,0104,0882,8222,8522,8222,8433,226
Total liabilities:5,7265,2853,7553,8103,8463,7474,116
Stockholders' equity
Stockholders' equity attributable to parent(1,197)(1,446)(1,626)(1,509)(1,698)(1,724)(2,111)
Common stock10101112131414
Additional paid in capital 5622233592558
Accumulated other comprehensive loss(13)(23)(15)(4)(14)(22)(12)
Accumulated deficit(1,193)(1,438)(1,628)(1,540)(1,930)(2,308)(2,671)
Total stockholders' equity:(1,197)(1,446)(1,626)(1,509)(1,698)(1,724)(2,111)
TOTAL LIABILITIES AND EQUITY:4,5283,8382,1282,3002,1482,0232,005

Income statement (P&L) ($ in millions)

1/31/2021
1/31/2020
1/31/2019
1/31/2018
1/31/2017
1/31/2016
1/31/2015
Revenues5,2715,0725,2725,3625,1974,9134,738
Revenue, net5,3625,1974,9134,738
Cost of revenue
(Cost of Goods and Services Sold)
(3,315)(3,200)     
Other undisclosed gross profit  (3,248)(3,233)(3,169)(2,944)(2,837)
Gross profit:1,9561,8722,0242,1292,0281,9681,901
Operating expenses(1,394)(1,309)(1,460)(1,393)(1,313)(1,248)(1,231)
Other undisclosed operating loss(29)(48)    (43)
Operating income:534515564735715721627
Nonoperating income (expense)
(Other Nonoperating Income (Expense))
2(1)2(1)0(1)(3)
Interest and debt expense(174)(155)(149)(129)(134)(148)(273)
Income from continuing operations before income taxes:361358417606582572351
Income tax expense(66)(86)(98)(215)(204)(209)(134)
Net income attributable to parent:295273320390378363217
Other undisclosed net loss available to common stockholders, basic(0)(0)(1)(2)(2)(2) 
Net income available to common stockholders, basic:295272319389376361217
Dilutive securities, effect on basic earnings per share      (1)
Other undisclosed net income available to common stockholders, diluted000000 
Net income available to common stockholders, diluted:295272319389376361216

Comprehensive Income ($ in millions)

1/31/2021
1/31/2020
1/31/2019
1/31/2018
1/31/2017
1/31/2016
1/31/2015
Net income:295273320390378363217
Other comprehensive loss     (10)(12)
Comprehensive income:295273320390378353205
Other undisclosed comprehensive income (loss), net of tax, attributable to parent9(8)(11)118  
Comprehensive income, net of tax, attributable to parent:304264309401386353205

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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