Lowes Project_Solutions - Income Statement Annual Report...

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Income Statement Annual Report Income Statement Horizontal Analysis Fiscal years ended on February 2, 2007 February 3, 2006 Change in Dollars (in millions) Net sales 46,927 43,243 3,684 Cost of sales 30,729 28,453 2,276 Gross Margin 16,198 14,790 1,408 Expenses Selling, general, and administrative 9,738 9,014 724 Store opening costs 146 142 4 Depreciation 1,162 980 182 Interest - net 154 158 (4) Total Expenses 11,200 10,294 906 Pre-tax Earnings 4,998 4,496 502 Income tax-provision 1,893 1,731 162 Net Earnings $3,105 $2,765 340 Basic earnings per share $2.02 $1.78 0 Diluted earnings per share $1.99 $1.73 0 Cash dividends per share $0.18 $0.11 0
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Change in Percent 8.52% 8.00% 9.52% 8.03% 2.82% 18.57% -2.53% 8.80% 11.17% 9.36% 12.30% 13.48% 15.03% 63.64%
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Lowe's, Inc. Annual Report Balance Sheet Horizontal Analysis Fiscal Years ended February 2, 2007 February 3, 2006 Change in Dollars (in millions) Assets Current Assets Cash and cash equivalents 364 423 (59) Short-term investments 432 453 (21) Merchandise Inventore 7144 6635 509 Deferred Income taxes 161 155 6 Other current assets 213 122 91 - Total current assets 8314 7788 526 - Property, less accumulated depreciation 18971 16354 2,617 Long-term investments 165 294 (129) Other assets 317 203 114 - Total Assets $27,767.00 $24,639.00 3,128 Liabilities and shareholders' equity Current liabilities: Short-term borrowings 23 0 23 Current maturities of long-term debt 88 32 56 Accounts payable 3524 2832 692 Accrued salaries and wages 372 424 (52) Self-insurance liabilities 650 571 79 Deferred revenue 731 709 22 Other current liabilities 1151 1264 (113) - Total Current Liabilities 6539 5832 707 - Long-term debt, excluding current maturities 4325 3499 826 Deferred income taxes 735 735 - Other long-term liabilities 443 277 166 Total Liabilities 12042 10343 1,699 Shareholders' equity Preferred stock - $5 par value, none issued Common stock - $.50 par value - Shares issued and outstanding 762 784 (22) 2/2/2007 - 1525 2/3/2006 - 1568 Capital in excess of par value 102 1320 (1,218) Retained Earnings 14860 12191 2,669
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Accumulated other comprehensive income 1 1 - Total shareholders' equity 15725 14296 1,429 Total liabilities and shareholders' equity $27,767 $24,639 3,128
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Change in Percent -13.95% -4.64% 7.67% 3.87% 74.59% 6.75% 16.00% -43.88% 56.16% 12.70% 0.00% 175.00% 24.44% -12.26% 13.84% 3.10% -8.94% 12.12% 23.61% 0.00% 59.93% -2.81% -92.27% 21.89%
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0.00% 10.00% 12.70%
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Annual Report Income Statement Vertical Analysis Fiscal years ended on February 2, 2007 February 3, 2006 (in millions) Net sales $46,927 $43,243 100.00% Cost of sales 30,729 28,453 65.48% Gross Margin 16,198 14,790 34.52% Expenses Selling, general, and administrative 9,738 9,014 20.75% Store opening costs 146 142 0.31% Depreciation 1,162 980 2.48% Interest - net 154 158 0.33% Total Expenses 11,200 10,294 23.87% Pre-tax Earnings 4,998 4,496 10.65% Income tax-provision 1,893 1,731 4.03% Net Earnings $3,105 $2,765 6.62% Basic earnings per share $2.02 $1.78
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Lowes Project_Solutions - Income Statement Annual Report...

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