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Consolidated Statements of Earnings - USD ($) $ in Millions 12-31-2022 % of 12-31-2021 % of 12-31-2020 Current Earnings Net sales $ 96,250 100.00% $
Consolidated Statements of Earnings - USD ($) $ in Millions | |||||
12-31-2022 | % of | 12-31-2021 | % of | 12-31-2020 | |
Current Earnings | |||||
Net sales | $ 96,250 | 100.00% | $ 89,597 | 100.00% | $ 72,148 |
Cost of sales | 64,194 | 66.70% | 60,025 | 66.99% | 49,205 |
Gross margin | 32,056 | 33.30% | 29,572 | 33.01% | 22,943 |
Expenses: | |||||
Selling, general and administrative | 18,301 | 19.01% | 18,526 | 20.68% | 15,367 |
Depreciation and amortization | 1,662 | 1.73% | 1,399 | 1.56% | 1,262 |
Operating income | 12,093 | 12.56% | 9,647 | 10.77% | 6,314 |
Interest - net | 885 | 0.92% | 848 | 0.95% | 691 |
Loss on extinguishment of debt | 0 | 0.00% | 1,060 | 1.18% | 0 |
Pre-tax earnings | 11,208 | 11.64% | 7,739 | 8.64% | 5,623 |
Income tax provision | 2,766 | 2.87% | 1,904 | 2.13% | 1,342 |
Net earnings | $ 8,442 | 8.77% | $ 5,835 | 6.51% | $ 4,281 |
Could you calculate the return on equity and the average equity with the above income statement below and balance sheet.
Consolidated Balance Sheets - USD ($) $ in Millions | 12-31-2022 | % of | 12-31-2021 | %of | 12-31-2020 | |
Current assets: | ||||||
Cash and cash equivalents | $ 1,133 | 2.54% | $ 4,690 | 10.04% | $ 716 | |
Short-term investments | $ 271 | 0.61% | $ 506 | 1.08% | 160 | |
Merchandise inventory - net | $ 17,605 | 39.44% | $ 16,193 | 34.65% | 13,179 | |
Other current assets | $ 1,051 | 2.35% | $ 937 | 2.00% | 1,263 | |
Total current assets | $ 20,060 | 44.94% | $ 22,326 | 47.77% | 15,318 | |
Property, less accumulated depreciation | $ 19,071 | 42.72% | $ 19,155 | 40.99% | 18,769 | |
Operating lease right-of-use assets | $ 4,108 | 9.20% | $ 3,832 | 8.20% | 3,891 | |
Long-term investments | $ 199 | 0.45% | $ 200 | 0.43% | 372 | |
Deferred income taxes - net | $ 164 | 0.37% | $ 340 | 0.73% | 216 | |
Other assets | $ 1,038 | 2.33% | $ 882 | 1.89% | 905 | |
Total assets | $ 44,640 | 100.00% | $ 46,735 | 100.00% | 39,471 | |
Current liabilities: | ||||||
Short -term brorrowings | 0.00% | 0.00% | 1,941 | |||
Current maturities of long-term debt | $ 868 | 1.94% | $ 1,112 | 2.38% | 597 | |
Current operating lease liabilities | $ 636 | 1.42% | $ 541 | 1.16% | 501 | |
Accounts payable | $ 11,354 | 25.43% | $ 10,884 | 23.29% | 7,659 | |
Accrued compensation and employee benefits | $ 1,561 | 3.50% | $ 1,350 | 2.89% | 684 | |
Deferred revenue | $ 1,914 | 4.29% | $ 1,608 | 3.44% | 1,219 | |
Other current liabilities | $ 3,335 | 7.47% | $ 3,235 | 6.92% | 2,581 | |
Total current liabilities | $ 19,668 | 44.06% | $ 18,730 | 40.08% | 15,182 | |
Long-term debt, excluding current maturities | $ 23,859 | 53.45% | $ 20,668 | 44.22% | 16,768 | |
Noncurrent operating lease liabilities | $ 4,021 | 9.01% | $ 3,890 | 8.32% | 3,943 | |
Deferred revenue - Lowe's protection plans | $ 1,127 | 2.52% | $ 1,019 | 2.18% | 894 | |
Other liabilities | $ 781 | 1.75% | $ 991 | 2.12% | 712 | |
Total liabilities | $ 49,456 | 110.79% | $ 45,298 | 96.93% | $ 37,499 | |
Commitments and contingencies | $ - | 0.00% | $ - | 0.00% | $ - | |
Shareholders' (deficit)/equity: | $ - | 0.00% | $ - | 0.00% | $ - | |
Preferred stock - $5 par value: Authorized - 5.0 million shares; Issued and outstanding - none | $ - | 0.00% | $ - | 0.00% | ||
Common stock - $0.50 par value: Authorized - 5.6 billion shares; Issued and outstanding - 670 million and 731 million, respectively | 335 | 0.75% | 366 | 0.78% | 381 | |
Capital in excess of par value | 0 | 0.00% | 90 | 0.19% | 0 | |
(Accumulated deficit)/retained earnings | -5,115 | -11.46% | 1,117 | 2.39% | 1,727 | |
Accumulated other comprehensive loss | -36 | -0.08% | -136 | -0.29% | (136) | |
Total shareholders' (deficit)/equity | -4,816 | -10.79% | 1,437 | 3.07% | 1,972 |
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