10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
LOWES COMPANIES INC | |||
Ticker: LOW Fiscal Year: 2021 | |||
Consolidated Statements of Earnings | |||
Period Ending Jan 28, 2022 10-K (Filed: Mar 21, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Jan 28, 2022 | Jan 29, 2021 | Jan 31, 2020 | |
| Current Earnings | |||
| Net sales | $ 96,250 | 89,597 | 72,148 |
| Cost of sales | 64,194 | 60,025 | 49,205 |
| Gross margin | 32,056 | 29,572 | 22,943 |
| Expenses: | |||
| Selling, general and administrative | 18,301 | 18,526 | 15,367 |
| Depreciation and amortization | 1,662 | 1,399 | 1,262 |
| Operating income | 12,093 | 9,647 | 6,314 |
| Interest net | 885 | 848 | 691 |
| Loss on extinguishment of debt | 0 | 1,060 | 0 |
| Pre-tax earnings | 11,208 | 7,739 | 5,623 |
| Income tax provision | 2,766 | 1,904 | 1,342 |
| Net earnings | 8,442 | 5,835 | 4,281 |
| Basic earnings per common share (in dollars per share) | 12.07 | 7.77 | 5.49 |
| Diluted earnings per common share (in dollars per share) | 12.04 | 7.75 | 5.49 |
| Current Earnings (Percentages) | |||
| Net sales | 100.00% | 100.00% | 100.00% |
| Cost of sales | 66.70% | 66.99% | 68.20% |
| Gross margin | 33.30% | 33.01% | 31.80% |
| Expenses (Percentages) | |||
| Selling, general and administrative | 19.01% | 20.68% | 21.30% |
| Depreciation and amortization | 1.73% | 1.56% | 1.75% |
| Operating income | 12.56% | 10.77% | 8.75% |
| Interest net | 0.92% | 0.95% | 0.96% |
| Loss on extinguishment of debt | 0.00% | 1.18% | 0.00% |
| Pre-tax earnings | 11.64% | 8.64% | 7.79% |
| Income tax provision | 2.87% | 2.13% | 1.86% |
| Net earnings | 8.77% | 6.51% | 5.93% |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
LOWES COMPANIES INC | |||
Ticker: LOW Fiscal Year: 2021 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Jan 28, 2022 10-K (Filed: Mar 21, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Jan 28, 2022 | Jan 29, 2021 | Jan 31, 2020 | |
| Comprehensive Income | |||
| Net earnings | $ 8,442 | 5,835 | 4,281 |
| Foreign currency translation adjustments net of tax | (4) | 78 | 94 |
| Cash flow hedges net of tax | 109 | (79) | (22) |
| Other | (5) | 1 | 1 |
| Other comprehensive income | 100 | 0 | 73 |
| Comprehensive income | 8,542 | 5,835 | 4,354 |
| Comprehensive Income (Percentages) | |||
| Net earnings | 8.77% | 6.51% | 5.93% |
| Foreign currency translation adjustments net of tax | 0.00% | 0.09% | 0.13% |
| Cash flow hedges net of tax | 0.11% | (0.09%) | (0.03%) |
| Other | (0.01%) | 0.00% | 0.00% |
| Other comprehensive income | 0.10% | 0.00% | 0.10% |
| Comprehensive income | 8.87% | 6.51% | 6.03% |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
LOWES COMPANIES INC | |||
Ticker: LOW Fiscal Year: 2021 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Jan 28, 2022 10-K (Filed: Mar 21, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Jan 28, 2022 | Jan 29, 2021 | Jan 31, 2020 | |
| Cash flows from operating activities: | |||
| Net earnings | $ 8,442 | 5,835 | 4,281 |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||
| Depreciation and amortization | 1,882 | 1,594 | 1,410 |
| Noncash lease expense | 517 | 479 | 468 |
| Deferred income taxes | 135 | (108) | 177 |
| Loss on property and other assets net | 34 | 139 | 117 |
| Loss on extinguishment of debt | 0 | 1,060 | 0 |
| Share-based payment expense | 230 | 155 | 98 |
| Changes in operating assets and liabilities: | |||
| Merchandise inventory net | (1,413) | (2,967) | (600) |
| Other operating assets | (23) | 326 | (364) |
| Accounts payable | 466 | 3,211 | (637) |
| Deferred revenue | 413 | 512 | (15) |
| Other operating liabilities | (570) | 813 | (639) |
| Net cash provided by operating activities | 10,113 | 11,049 | 4,296 |
| Cash flows from investing activities: | |||
| Purchases of investments | (3,065) | (3,094) | (743) |
| Proceeds from sale/maturity of investments | 3,293 | 2,926 | 695 |
| Capital expenditures | (1,853) | (1,791) | (1,484) |
| Proceeds from sale of property and other long-term assets | 113 | 90 | 163 |
| Other net | (134) | (25) | 0 |
| Net cash used in investing activities | (1,646) | (1,894) | (1,369) |
| Cash flows from financing activities: | |||
| Net change in commercial paper | 0 | (941) | 220 |
| Net proceeds from issuance of debt | 4,972 | 7,929 | 3,972 |
| Repayment of debt | (2,118) | (5,618) | (1,113) |
| Proceeds from issuance of common stock under share-based payment plans | 132 | 152 | 118 |
| Cash dividend payments | (1,984) | (1,704) | (1,618) |
| Repurchases of common stock | (13,012) | (4,971) | (4,313) |
| Other net | (6) | (38) | (1) |
| Net cash used in financing activities | (12,016) | (5,191) | (2,735) |
| Effect of exchange rate changes on cash | (8) | 10 | 1 |
| Net (decrease)/increase in cash and cash equivalents, including cash classified within current assets held for sale | (3,557) | 3,974 | 193 |
| Less: Net decrease in cash classified within current assets held for sale | 0 | 0 | 12 |
| Net (decrease)/increase in cash and cash equivalents | (3,557) | 3,974 | 205 |
| Cash and cash equivalents, beginning of year | 4,690 | 716 | |
| Cash and cash equivalents, end of year | 1,133 | 4,690 | 716 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
LOWES COMPANIES INC | ||
Ticker: LOW Fiscal Year: 2021 | ||
Consolidated Balance Sheets | ||
Period Ending Jan 28, 2022 10-K (Filed: Mar 21, 2022) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Jan 28, 2022 | Jan 29, 2021 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $ 1,133 | 4,690 |
| Short-term investments | 271 | 506 |
| Merchandise inventory net | 17,605 | 16,193 |
| Other current assets | 1,051 | 937 |
| Total current assets | 20,060 | 22,326 |
| Property, less accumulated depreciation | 19,071 | 19,155 |
| Operating lease right-of-use assets | 4,108 | 3,832 |
| Long-term investments | 199 | 200 |
| Deferred income taxes net | 164 | 340 |
| Other assets | 1,038 | 882 |
| Total assets | 44,640 | 46,735 |
| Liabilities and shareholders (deficit)/equity | ||
| Current liabilities: | ||
| Current maturities of long-term debt | 868 | 1,112 |
| Current operating lease liabilities | 636 | 541 |
| Accounts payable | 11,354 | 10,884 |
| Accrued compensation and employee benefits | 1,561 | 1,350 |
| Deferred revenue | 1,914 | 1,608 |
| Other current liabilities | 3,335 | 3,235 |
| Total current liabilities | 19,668 | 18,730 |
| Long-term debt, excluding current maturities | 23,859 | 20,668 |
| Noncurrent operating lease liabilities | 4,021 | 3,890 |
| Deferred revenue Lowes protection plans | 1,127 | 1,019 |
| Other liabilities | 781 | 991 |
| Total liabilities | 49,456 | 45,298 |
| Commitments and contingencies | ||
| Shareholders (deficit)/equity: | ||
| Preferred stock $5 par value: Authorized 5.0 million shares; Issued and outstanding none | 0 | 0 |
| Common stock $0.50 par value: Authorized 5.6 billion shares; Issued and outstanding 670 million and 731 million, respectively | 335 | 366 |
| Capital in excess of par value | 0 | 90 |
| (Accumulated deficit)/retained earnings | (5,115) | 1,117 |
| Accumulated other comprehensive loss | (36) | (136) |
| Total shareholders (deficit)/equity | (4,816) | 1,437 |
| Total liabilities and shareholders (deficit)/equity | 44,640 | 46,735 |
| External Links | |
| LOWES COMPANIES INC (LOW) Fiscal Year 2021 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |