Solution
Harshit answered on
Apr 26 2021
Section 1
CONSOLIDATED BALANCE SHEETS
in millions, except per share data
January 31,
Fe
uary 2,
2021
2020
Assets
Cu
ent assets:
Cash and cash equivalents
$
7,895
$
2,133
Receivables, net
2,992
2,106
Merchandise inventories
16,627
14,531
Other cu
ent assets
963
1,040
Total cu
ent assets
28,477
19,810
Net property and equipment
24,705
22,770
Operating lease right-of-use assets
5,962
5,595
Goodwill
7,126
2,254
Other assets
4,311
807
Total assets
$
70,581
$
51,236
Liabilities and Stockholders’ Equity
Cu
ent liabilities:
Short-term debt
$
—
$
974
Accounts payable
11,606
7,787
Accrued salaries and related expenses
2,463
1,494
Sales taxes payable
774
605
Defe
ed revenue
2,823
2,116
Income taxes payable
193
55
Cu
ent installments of long-term debt
1,416
1,839
Cu
ent operating lease liabilities
828
828
Other accrued expenses
3,063
2,677
Total cu
ent liabilities
23,166
18,375
Long-term debt, excluding cu
ent installments
35,822
28,670
Long-term operating lease liabilities
5,356
5,066
Defe
ed income taxes
1,131
706
Other long-term liabilities
1,807
1,535
Total liabilities
67,282
54,352
Common stock, par value $0.05; authorized: 10,000 shares; issued: 1,789 shares at January 31, 2021 and 1,786 shares at Fe
uary 2, 2020; outstanding: 1,077 shares at January 31, 2021 and Fe
uary 2, 2020
89
89
Paid-in capital
11,540
11,001
Retained earnings
58,134
51,729
Accumulated other comprehensive loss
-671
-739
Treasury stock, at cost, 712 shares at January 31, 2021 and 709 shares at Fe
uary 2, 2020
-65,793
-65,196
Total stockholders’ equity (deficit)
3,299
-3,116
Total liabilities and stockholders’ equity
$
70,581
$
51,236
THE HOME DEPOT, INC.
CONSOLIDATED STATEMENTS OF EARNINGS
in millions, except per share data
Fiscal
Fiscal
Fiscal
2020
2019
2018
Net sales
$
132,110
$
110,225
$
108,203
Cost of sales
87,257
72,653
71,043
Gross profit
44,853
37,572
37,160
Operating expenses:
Selling, general and administrative
24,447
19,740
19,513
Depreciation and amortization
2,128
1,989
1,870
Impairment loss
—
—
247
Total operating expenses
26,575
21,729
21,630
Operating income
18,278
15,843
15,530
Interest and other (income) expense:
Interest and investment income
-47
-73
-93
Interest expense
1,347
1,201
1,051
Othe
—
—
16
Interest and other, net
1,300
1,128
974
Earnings before provision for income taxes
16,978
14,715
14,556
Provision for income taxes
4,112
3,473
3,435
Net earnings
$
12,866
$
11,242
$
11,121
Basic weighted average common shares
1,074
1,093
1,137
Basic earnings per share
$
11.98
$
10.29
$
9.78
Diluted weighted average common shares
1,078
1,097
1,143
Diluted earnings per share
$
11.94
$
10.25
$
9.73
THE HOME DEPOT, INC.
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
in millions
Fiscal
Fiscal
Fiscal
2020
2019
2018
Common Stock:
Balance at beginning of yea
$
89
$
89
$
89
Shares issued under employee stock plans
—
—
—
Balance at end of yea
89
89
89
Paid-in Capital:
Balance at beginning of yea
11,001
10,578
10,192
Shares issued under employee stock plans
229
172
104
Stock-based compensation expense
310
251
282
Balance at end of yea
11,540
11,001
10,578
Retained Earnings:
Balance at beginning of yea
51,729
46,423
39,935
Cumulative effect of accounting changes
—
26
75
Net earnings
12,866
11,242
11,121
Cash dividends
-6,451
-5,958
-4,704
Othe
-10
-4
-4
Balance at end of yea
58,134
51,729
46,423
Accumulated Other Comprehensive Income (Loss):
Balance at beginning of yea
-739
-772
-566
Cumulative effect of accounting changes
—
-31
—
Foreign cu
ency translation adjustments, net of tax
60
53
-267
Cash flow hedges, net of tax
8
8
53
Other, net of tax
—
3
8
Balance at end of yea
-671
-739
-772
Treasury Stock:
Balance at beginning of yea
-65,196
-58,196
-48,196
Repurchases of common stock
-597
-7,000
-10,000
Balance at end of yea
-65,793
-65,196
-58,196
Total stockholders’ equity (deficit)
$
3,299
$
-3,116
$
-1,878
THE HOME DEPOT, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
Fiscal
Fiscal
Fiscal
in millions
2020
2019
2018
Cash Flows from Operating Activities:
Net...