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: 2022 | |||
Consolidated Statements of Earnings | |||
Period Ending Feb 3, 2023 10-K (Filed: Mar 27, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Feb 3, 2023 | Jan 28, 2022 | Jan 29, 2021 | |
| Current Earnings | |||
| Net sales | $ 97,059 | 96,250 | 89,597 |
| Cost of sales | 64,802 | 64,194 | 60,025 |
| Gross margin | 32,257 | 32,056 | 29,572 |
| Expenses: | |||
| Selling, general and administrative | 20,332 | 18,301 | 18,526 |
| Depreciation and amortization | 1,766 | 1,662 | 1,399 |
| Operating income | 10,159 | 12,093 | 9,647 |
| Interest net | 1,123 | 885 | 848 |
| Loss on extinguishment of debt | 0 | 0 | 1,060 |
| Pre-tax earnings | 9,036 | 11,208 | 7,739 |
| Income tax provision | 2,599 | 2,766 | 1,904 |
| Net earnings | 6,437 | 8,442 | 5,835 |
| Basic earnings per common share (in dollars per share) | 10.20 | 12.07 | 7.77 |
| Diluted earnings per common share (in dollars per share) | 10.17 | 12.04 | 7.75 |
| Current Earnings (Percentages) | |||
| Net sales | 100.00% | 100.00% | 100.00% |
| Cost of sales | 66.77% | 66.70% | 66.99% |
| Gross margin | 33.23% | 33.30% | 33.01% |
| Expenses (Percentages) | |||
| Selling, general and administrative | 20.94% | 19.01% | 20.68% |
| Depreciation and amortization | 1.82% | 1.73% | 1.56% |
| Operating income | 10.47% | 12.56% | 10.77% |
| Interest net | 1.16% | 0.92% | 0.95% |
| Loss on extinguishment of debt | 0.00% | 0.00% | 1.18% |
| Pre-tax earnings | 9.31% | 11.64% | 8.64% |
| Income tax provision | 2.68% | 2.87% | 2.13% |
| Net earnings | 6.63% | 8.77% | 6.51% |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
LOWES COMPANIES INC | |||
Ticker: LOW Fiscal Year: 2022 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Feb 3, 2023 10-K (Filed: Mar 27, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Feb 3, 2023 | Jan 28, 2022 | Jan 29, 2021 | |
| Comprehensive Income | |||
| Net earnings | $ 6,437 | 8,442 | 5,835 |
| Foreign currency translation adjustments net of tax | 36 | (4) | 78 |
| Cash flow hedges net of tax | 309 | 109 | (79) |
| Other | (2) | (5) | 1 |
| Other comprehensive income | 343 | 100 | 0 |
| Comprehensive income | 6,780 | 8,542 | 5,835 |
| Comprehensive Income (Percentages) | |||
| Net earnings | 6.63% | 8.77% | 6.51% |
| Foreign currency translation adjustments net of tax | 0.04% | 0.00% | 0.09% |
| Cash flow hedges net of tax | 0.32% | 0.11% | (0.09%) |
| Other | 0.00% | (0.01%) | 0.00% |
| Other comprehensive income | 0.36% | 0.10% | 0.00% |
| Comprehensive income | 6.99% | 8.87% | 6.51% |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
LOWES COMPANIES INC | |||
Ticker: LOW Fiscal Year: 2022 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Feb 3, 2023 10-K (Filed: Mar 27, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Feb 3, 2023 | Jan 28, 2022 | Jan 29, 2021 | |
| Cash flows from operating activities: | |||
| Net earnings | $ 6,437 | 8,442 | 5,835 |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||
| Depreciation and amortization | 1,981 | 1,882 | 1,594 |
| Noncash lease expense | 530 | 517 | 479 |
| Deferred income taxes | (239) | 135 | (108) |
| Asset impairment and loss on property - net | 2,118 | 34 | 139 |
| Loss on sale of business | 421 | 0 | 0 |
| Loss on extinguishment of debt | 0 | 0 | 1,060 |
| Share-based payment expense | 223 | 230 | 155 |
| Changes in operating assets and liabilities: | |||
| Merchandise inventory net | (2,594) | (1,413) | (2,967) |
| Other operating assets | 56 | (23) | 326 |
| Accounts payable | (549) | 466 | 3,211 |
| Deferred revenue | (183) | 413 | 512 |
| Other operating liabilities | 388 | (570) | 813 |
| Net cash provided by operating activities | 8,589 | 10,113 | 11,049 |
| Cash flows from investing activities: | |||
| Purchases of investments | (1,189) | (3,065) | (3,094) |
| Proceeds from sale/maturity of investments | 1,174 | 3,293 | 2,926 |
| Capital expenditures | (1,829) | (1,853) | (1,791) |
| Proceeds from sale of property and other long-term assets | 45 | 113 | 90 |
| Proceeds from sale of business | 491 | 0 | 0 |
| Other net | (1) | (134) | (25) |
| Net cash used in investing activities | (1,309) | (1,646) | (1,894) |
| Cash flows from financing activities: | |||
| Net change in commercial paper | 499 | 0 | (941) |
| Net proceeds from issuance of debt | 9,667 | 4,972 | 7,929 |
| Repayment of debt | (867) | (2,118) | (5,618) |
| Proceeds from issuance of common stock under share-based payment plans | 151 | 132 | 152 |
| Cash dividend payments | (2,370) | (1,984) | (1,704) |
| Repurchases of common stock | (14,124) | (13,012) | (4,971) |
| Other net | (5) | (6) | (38) |
| Net cash used in financing activities | (7,049) | (12,016) | (5,191) |
| Effect of exchange rate changes on cash | (16) | (8) | 10 |
| Net increase/(decrease) in cash and cash equivalents | 215 | (3,557) | 3,974 |
| Cash and cash equivalents, beginning of year | 1,133 | 4,690 | |
| Cash and cash equivalents, end of year | 1,348 | 1,133 | 4,690 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
LOWES COMPANIES INC | ||
Ticker: LOW Fiscal Year: 2022 | ||
Consolidated Balance Sheets | ||
Period Ending Feb 3, 2023 10-K (Filed: Mar 27, 2023) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Feb 3, 2023 | Jan 28, 2022 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $ 1,348 | 1,133 |
| Short-term investments | 384 | 271 |
| Merchandise inventory net | 18,532 | 17,605 |
| Other current assets | 1,178 | 1,051 |
| Total current assets | 21,442 | 20,060 |
| Property, less accumulated depreciation | 17,567 | 19,071 |
| Operating lease right-of-use assets | 3,518 | 4,108 |
| Long-term investments | 121 | 199 |
| Deferred income taxes net | 250 | 164 |
| Other assets | 810 | 1,038 |
| Total assets | 43,708 | 44,640 |
| Liabilities and shareholders deficit | ||
| Current liabilities: | ||
| Short-term borrowings | 499 | 0 |
| Current maturities of long-term debt | 585 | 868 |
| Current operating lease liabilities | 522 | 636 |
| Accounts payable | 10,524 | 11,354 |
| Accrued compensation and employee benefits | 1,109 | 1,561 |
| Deferred revenue | 1,603 | 1,914 |
| Income taxes payable | 1,181 | 128 |
| Other current liabilities | 3,488 | 3,207 |
| Total current liabilities | 19,511 | 19,668 |
| Long-term debt, excluding current maturities | 32,876 | 23,859 |
| Noncurrent operating lease liabilities | 3,512 | 4,021 |
| Deferred revenue Lowes protection plans | 1,201 | 1,127 |
| Other liabilities | 862 | 781 |
| Total liabilities | 57,962 | 49,456 |
| Commitments and contingencies | ||
| Shareholders deficit: | ||
| 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 601 million and 670 million, respectively | 301 | 335 |
| Accumulated deficit | (14,862) | (5,115) |
| Accumulated other comprehensive income/(loss) | 307 | (36) |
| Total shareholders deficit | (14,254) | (4,816) |
| Total liabilities and shareholders deficit | 43,708 | 44,640 |
| External Links | |
| LOWES COMPANIES INC (LOW) Fiscal Year 2022 | |