Case 10 Value Line Publishing, October 2002 169 EXHIBIT 4 | Financial Statements for Home Depot ($ millions) Fiscal Year 1997 1998 1999 2000 2001 INCOME STATEMENT Sales 24,156 30,219 38,434 45,738 53,553 Cost of sales 17,092 21,241 26,560 31,456 36,642 Gross profit 7,064 8,978 11,874 14,282 16,911 Cash operating expenses* 4,885 5,935 7,603 9,490 11,215 Depreciation & amortization 283 373 463 601 764 EBIT 1,896 2,670 3,808 4,191 4,932 Nonrecurring expenses 0 0 0 0 0 Net interest expense (2) 16 4 (26) (25) EBT Income taxes 1,898 2,654 3,804 4,217 4,957 738 1,040 1,484 1,636 1,913 F 1,160 1,614 2,320 2,581 3,044 Net earnings BALANCE SHEET Cash and ST investments 174 62 170 177 2,546 Accounts receivable 556 469 587 835 920 Merchandise inventory 3,602 4,293 5,489 6,556 6,725 Other current assets 128 109 Total current assets 4,460 4,933 144 6,390 209 7,777 170 10,361 Net property and equipment 6,509 8,160 Other assets 260 372 10,227 464 13,068 540 15,375 658 Total assets 11,229 13,465 17,081 21,385 26,394 Accounts payable 1,358 1,586 1,993 1,976 3,436 Accrued salaries and wages 312 395 541 627 717 Short-term borrowings 0 0 0 0 0 Current maturities of long-term debt 8 14 29 4 5 Other current liabilities 778 862 1,093 1,778 2,343 Current liabilities 2,456 2,857 3,656 4,385 6,501 Long-term debt 1,303 1,566 750 1,545 1,250 Deferred income taxes 78 85 87 195 189 Other long-term liabilities 178 208 237 245 372 Minority interest 116 9 10 11 0 Shareholders' equity 7,098 8,740 12,341 15,004 18,082 Total liab. and owner's equity 11,229 13,465 17,081 21,385 26,394 *Includes operating-lease payments of $262 million in 1997, $321 million in 1998, $389 million in 1999, $479 million in 2000, and $522 million in 2001.