10-Year Financial Information
Fiscal Years Ended On
February 1,
2013
February 3,
2012*
January 28,
2011
January 29,
2010
January 30,
2009
February 1,
2008
February 2,
2007
February 3,
2006*
January 28,
2005
January 30,
2004
Stores and people
Number of stores
Square footage (in millions)
Number of employees
Customer transactions (in millions)
Average ticket
1,754
197
245,327
804
$ 62.82
1,745
197
248,380
810
$ 62.00
1,749
197
234,318
786
$ 62.07
1,710
193
238,793
766
$ 61.66
1,649
187
228,729
740
$ 65.15
1,534
174
215,978
720
$ 67.05
1,385
157
210,142
680
$ 68.98
1,234
140
185,314
639
$67.67
1,087
124
161,964
575
$ 63.43
952
109
147,052
521
$ 59.21
Comparative income statements1
Sales (in millions)
Gross margin (% to sales)2
Selling, general & administrative (% to sales)2
Depreciation (% to sales)
Earnings before interest and taxes (% to sales)3
Interest—net (% to sales)
Net earnings (% to sales)
Weighted-average shares, assuming dilution (in millions)
Earnings per share, diluted
Cash dividends per share
$50,521
34.30%
24.24%
3.01%
7.05%
0.84%
3.88%
1,152
1.69
0.62
$50,208
34.56%
25.08%
2.95%
6.53%
0.74%
3.66%
1,273
1.43
0.53
$48,815
35.14%
24.60%
3.25%
7.29%
0.68%w
4.12%
1,403
1.42
0.42
$47,220
34.86%
24.85%
3.42%
6.59%
0.61%
3.78%
1,464
1.21
0.36
$48,230
34.21%
23.17%
3.19%
7.85%
0.58%
4.55%
1,468
1.49
0.34
$48,283
34.64%
22.07%
2.83%
9.74%
0.40%
5.82%
1,507
1.86
0.29
$46,927
34.52%
21.06%
2.48%
10.98%
0.33%
6.62%
1,564
1.99
0.18
$43,243
34.20%
21.17%
2.27%
10.76%
0.37%
6.39%
1,607
1.73
0.11
$36,464
33.56%
21.08%
2.36%
10.14%
0.48%
5.94%
1,617
1.35
0.08
$30,838
30.92%
18.51%
2.40%
10.01%
0.58%
5.91%
1,631
1.13
0.06
Comparative balance sheets (millions)
Cash and short-term investments
Merchandise inventory—net
Total current assets
Property, less accumulated depreciation
Total assets
Accounts payable
Total current liabilities
Total debt4
Total liabilities
Shareholders’ equity
Shares outstanding, year-end
$   666
8,600
9,784
21,477
32,666
4,657
7,708
9,077
18,809
$13,857
1,110
$ 1,300
8,355
10,072
21,970
33,559
4,352
7,891
7,627
17,026
$16,533
1,241
$ 1,123
8,321
9,967
22,089
33,699
4,351
7,119
6,573
15,587
$18,112
1,354
$ 1,057
8,249
9,732
22,499
33,005
4,287
7,355
5,080
13,936
$19,069
1,459
$   661
8,209
9,190
22,722
32,625
4,109
7,560
6,060
14,570
$18,055
1,470
$   530
7,611
8,633
21,361
30,816
3,713
7,316
6,680
14,718
$16,098
1,458
$   796
7,144
8,273
18,971
27,726
3,524
6,108
4,436
12,001
$15,725
1,525
$   876
6,635
7,753
16,354
24,604
2,832
5,449
3,531
10,308
$14,296
1,568
$   813
5,850
6,842
13,911
21,077
2,695
5,337
3,690
9,579
$11,498
1,548
$ 1,624
4,482
6,418
11,819
18,647
2,212
3,908
3,755
8,459
$10,188
1,575
Cash flows (in millions)
Cash flows from operating activities
Capital expenditures (Property acquired)
3,762
1,211
4,349
1,829
3,852
1,329
4,054
1,799
4,122
3,266
4,347
4,010
4,502
3,916
3,842
3,379
3,073
2,927
3,034
2,345
1.4%
$   257
3.74
0.0%
$   255
3.72
1.3%
$   250
3.63
(6.7%)%
$   249
3.65
(7.2%)%
$   267
3.91
(5.1)%
$   292
4.06
0.0%
$   316
4.27
6.1%
$   328
4.49
6.6%
$   314
4.50
6.7%
$   303
4.60
Financial metrics
Comparable sales growth5
Sales per average square foot
Inventory turnover6
Explanatory Notes:
1 Amounts presented for years ended January 30, 2004 and January 31, 2003 reflect the Contractor Yards as a discontinued operation. Net earnings (% to sales) and Earnings per share, diluted attributable to discontinued operations in both years ended January 30, 2004 and January 31, 2003 were 0.05% and $0.01, respectively.
2 The Company adopted EITF 02-16, “Accounting by a Customer (Including a Reseller) for Certain Consideration Received from a Vendor,” for contracts entered into after December 31, 2002. This resulted in certain amounts that were previously accounted for as a reduction in selling, general and administrative expenses being accounted for as a
reduction in cost of sales beginning principally with the fiscal year ending on January 28, 2005.
3 EBIT margin, also referred to as operating margin, is defined as earnings from continuing operations before interest and taxes as a percentage of sales.
4 Total debt is defined as short-term borrowings and long-term debt, including current maturities.
5 Comparable sales growth for years ended February 3, 2012 and February 3, 2006 was calculated using sales for comparable 53 week periods, comparable sales growth for all other years were calculated using sales for comparable 52 week periods. Reference the Management’s Discussion & Analysis section of Lowe’s Companies, Inc. Form 10-K
for the definition of a comparable location.
6 Inventory turnover is calculated by dividing the sum of the last four quarters’ cost of goods sold by the average of the last five quarters’ ending inventory.
* Fiscal 2005 and 2011 were 53 week years. All other years contained 52 weeks.