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Table of Contents Depreciation and finance lease amortization expense, including depreciation and finance lease amortization expense included in cost of sales, follows: in millions Fiscal Fiscal Fiscal 2020 2019 2018 Depreciation and finance lease amortization expense $ 2,425 2.223 S 2,076 Leases The consolidated balance sheet location of assets and liabilities related to operating and finance leases follow: Consolidated Balance Sheet Caption January 31, 2021 February 2, 2020 in millions Assets: Operating lease assets Finance lease assets (1) Total lease assets S Operating lease right-of-use assets Net property and equipment 5,962 2,493 8.455 5,595 934 6,529 $ Current operating lease liabilities Current installments of long-term debt 828 66 Liabilities: Current: Operating lease liabilities Finance lease liabilities Long-term: Operating lease liabilities Finance lease liabilities Total lease liabilities 828 84 Long-term operating lease liabilities Long-term debt, excluding current installments 5,356 2,700 8,950 5,066 1,081 7,059 (1) Finance lease assets are recorded net of accumulated amortization of $815 million and S644 million as of January 31, 2021 and February 2, 2020, respectively. The components of lease cost follow: Fiscal 2020 Fiscal 2019 Consolidated Statement of Earnings Caption() Selling, general and administrative 782 S 827 in millions Operating lease cost Finance lease cost: Amortization of leased assets Interest on lease liabilities Short-term lease cost Variable lease cost Sublease income Net lease cost Depreciation and amortization Interest expense Selling, general and administrative Selling, general and administrative Selling, general and administrative 167 112 75 277 (13) 1,400 86 92 98 241 (14) 1,330 Table of Contents No sales to an individual customer accounted for more than 10% of revenue during any of the last three fiscal years. Net sales, classified by geography, follow: Fiscal Fiscal in millions Fiscal 2020 2019 2018 Net sales - in the U.S. S 122.158 101,333 S 99,386 Net sales - outside the U.S. 9,952 8,892 8,817 Net sales S 132,110 110.225 108,203 Fiscal 2018 Net sales by products and services follow: in millions Net sales - products Net sales - services Net sales Fiscal 2020 127,671 4,439 132.110 Fiscal 2019 105,194 5,031 110,225 102,933 5,270 108,203 $ Major product lines and the related merchandising departments and related services) follow: Major Product Line Merchandising Departments Building Materials Building Materials, Electrical/Lighting, Lumber, Millwork, and Plumbing Dcor Appliances, Dcor Storage, Flooring, Kitchen and Bath, and Paint Hardlines Hardware, Indoor Garden, Outdoor Garden, and Tools Net sales by major product lines and related services) follow: S in millions Building Materials Dcor Hardlines Net sales Fiscal 2020 46,536 43,409 42,165 132,110 Fiscal 2019 39,338 37,390 33,497 110,225 Fiscal 2018 39.883 36.273 32,047 108,203 S S 52 $ Net sales by merchandising department and related services) follow: Fiscal 2020 Net % of dollars in millions Sales Net Sales Appliances 11,860 9.0 % Building Materials 8.682 6.6 Dcor/Storage 4,872 3.7 Electrical Lighting 11,173 8.5 Flooring 8,155 6.2 Hardware 7,656 5.8 Indoor Garden 14,296 Kitchen and Bath 6.4 Lumber 11,310 8.6 Millwork 6,460 4.9 Outdoor Garden 9,600 7.3 Paint 10.057 7.6 Plumbing 8,911 6.7 Tools 10,613 8.0 Total 132.110 100.0 Fiscal 2019 Net Sales 9,852 7,712 3,758 9,844 7,443 6,381 10,989 7.717 7.894 5.757 7.564 8,620 8,131 8,563 110,225 Fiscal 2018 Net Sales 9,027 7,770 3,583 9.941 7,494 6,203 10.450 7,728 8,393 5,757 7,259 8,441 8,022 % of Net Sales 8.9 % $ 7.0 3.4 8.9 6.8 5.8 10.0 7.0 7.2 5.2 6.9 7.8 7.4 7.8 100.0 % 10.8 % of Net Sales 8.3 % 7.2 3.3 9.2 6.9 5.7 9.7 7.1 7.8 5.3 6.7 7.8 7.4 7.5 100.0 % 8.465 8,135 108,203 Note: Certain percentages may not sum to totals due to rounding 3. PROPERTY AND LEASES Net Property and Equipment The components of net property and equipment follow: January 31, 2021 in millions Land Buildings Furniture, fixtures, and equipment Leasehold improvements Construction in progress Finance leases Property and equipment, at cost Less accumulated depreciation and finance lease amortization Net property and equipment 8,543 18,838 15,119 1,925 1,068 3,308 48,801 24,096 24.705 February 2, 2020 8,390 18,432 13,666 1,789 1,005 1,578 44,860 22,090 22,770 3. What inventory method does your assigned company use? (This can be found in the notes to the financial statements of your assigned company.) DOCUMENT: 4. What depreciation method does your assigned company use? (This can be found in the notes to the financial statements of your assigned company.) DOCUMENT: Table of Contents Depreciation and finance lease amortization expense, including depreciation and finance lease amortization expense included in cost of sales, follows: in millions Fiscal Fiscal Fiscal 2020 2019 2018 Depreciation and finance lease amortization expense $ 2,425 2.223 S 2,076 Leases The consolidated balance sheet location of assets and liabilities related to operating and finance leases follow: Consolidated Balance Sheet Caption January 31, 2021 February 2, 2020 in millions Assets: Operating lease assets Finance lease assets (1) Total lease assets S Operating lease right-of-use assets Net property and equipment 5,962 2,493 8.455 5,595 934 6,529 $ Current operating lease liabilities Current installments of long-term debt 828 66 Liabilities: Current: Operating lease liabilities Finance lease liabilities Long-term: Operating lease liabilities Finance lease liabilities Total lease liabilities 828 84 Long-term operating lease liabilities Long-term debt, excluding current installments 5,356 2,700 8,950 5,066 1,081 7,059 (1) Finance lease assets are recorded net of accumulated amortization of $815 million and S644 million as of January 31, 2021 and February 2, 2020, respectively. The components of lease cost follow: Fiscal 2020 Fiscal 2019 Consolidated Statement of Earnings Caption() Selling, general and administrative 782 S 827 in millions Operating lease cost Finance lease cost: Amortization of leased assets Interest on lease liabilities Short-term lease cost Variable lease cost Sublease income Net lease cost Depreciation and amortization Interest expense Selling, general and administrative Selling, general and administrative Selling, general and administrative 167 112 75 277 (13) 1,400 86 92 98 241 (14) 1,330 Table of Contents No sales to an individual customer accounted for more than 10% of revenue during any of the last three fiscal years. Net sales, classified by geography, follow: Fiscal Fiscal in millions Fiscal 2020 2019 2018 Net sales - in the U.S. S 122.158 101,333 S 99,386 Net sales - outside the U.S. 9,952 8,892 8,817 Net sales S 132,110 110.225 108,203 Fiscal 2018 Net sales by products and services follow: in millions Net sales - products Net sales - services Net sales Fiscal 2020 127,671 4,439 132.110 Fiscal 2019 105,194 5,031 110,225 102,933 5,270 108,203 $ Major product lines and the related merchandising departments and related services) follow: Major Product Line Merchandising Departments Building Materials Building Materials, Electrical/Lighting, Lumber, Millwork, and Plumbing Dcor Appliances, Dcor Storage, Flooring, Kitchen and Bath, and Paint Hardlines Hardware, Indoor Garden, Outdoor Garden, and Tools Net sales by major product lines and related services) follow: S in millions Building Materials Dcor Hardlines Net sales Fiscal 2020 46,536 43,409 42,165 132,110 Fiscal 2019 39,338 37,390 33,497 110,225 Fiscal 2018 39.883 36.273 32,047 108,203 S S 52 $ Net sales by merchandising department and related services) follow: Fiscal 2020 Net % of dollars in millions Sales Net Sales Appliances 11,860 9.0 % Building Materials 8.682 6.6 Dcor/Storage 4,872 3.7 Electrical Lighting 11,173 8.5 Flooring 8,155 6.2 Hardware 7,656 5.8 Indoor Garden 14,296 Kitchen and Bath 6.4 Lumber 11,310 8.6 Millwork 6,460 4.9 Outdoor Garden 9,600 7.3 Paint 10.057 7.6 Plumbing 8,911 6.7 Tools 10,613 8.0 Total 132.110 100.0 Fiscal 2019 Net Sales 9,852 7,712 3,758 9,844 7,443 6,381 10,989 7.717 7.894 5.757 7.564 8,620 8,131 8,563 110,225 Fiscal 2018 Net Sales 9,027 7,770 3,583 9.941 7,494 6,203 10.450 7,728 8,393 5,757 7,259 8,441 8,022 % of Net Sales 8.9 % $ 7.0 3.4 8.9 6.8 5.8 10.0 7.0 7.2 5.2 6.9 7.8 7.4 7.8 100.0 % 10.8 % of Net Sales 8.3 % 7.2 3.3 9.2 6.9 5.7 9.7 7.1 7.8 5.3 6.7 7.8 7.4 7.5 100.0 % 8.465 8,135 108,203 Note: Certain percentages may not sum to totals due to rounding 3. PROPERTY AND LEASES Net Property and Equipment The components of net property and equipment follow: January 31, 2021 in millions Land Buildings Furniture, fixtures, and equipment Leasehold improvements Construction in progress Finance leases Property and equipment, at cost Less accumulated depreciation and finance lease amortization Net property and equipment 8,543 18,838 15,119 1,925 1,068 3,308 48,801 24,096 24.705 February 2, 2020 8,390 18,432 13,666 1,789 1,005 1,578 44,860 22,090 22,770 3. What inventory method does your assigned company use? (This can be found in the notes to the financial statements of your assigned company.) DOCUMENT: 4. What depreciation method does your assigned company use? (This can be found in the notes to the financial statements of your assigned company.) DOCUMENT
