Financial Statements Analysis Worksheet

1.

Calculate the current ratio and quick ratio for both companies using their Consolidated Balance

Sheets for 2017 and 2018. Write a paragraph describing what these ratios indicate about the

liquidity of Home Depot and Lowes in 2017 compared to 2018. Write a paragraph describing

what these ratios indicate about the liquidity of Home Depot compared to Lowes for both years.

Which company seems to be more liquid? What are the advantages and disadvantages of liquidity?

Lowe's Companies, Inc. Consolidated Balance Sheets (in millions, except par value and percentage data) February 3, 2017 % Total January 29, 2016 % Total $ S Assets Current assets: Cash and cash equivalents Short-term investments Merchandise inventory - net Other current assets Total current assets Property, less accumulated depreciation Long-term investments Deferred income taxes-net Goodwill Other assets Total assets 558 100 10,458 884 12,000 19.949 366 222 1,082 789 34,408 1.6% 0.3 30.4 2.6 34.9 58.0 1.1 0.6 3.1 2.3 100.0% 405 307 9.458 391 10,561 19,577 222 241 154 511 31,266 1.3% 1.0 30.3 1.3 33.9 62.6 0.7 0.8 0.5 1.5 100.0 % $ $ S $ Liabilities and shareholders' equity Current liabilities: Short-term borrowings Current maturities of long-term debt Accounts payable Accrued compensation and employee benefits Deferred revenue Other current liabilities Total current liabilities Long-term debt, excluding current maturities Deferred revenue-extended protection plans Other liabilities Total liabilities 510 1.5% 79523 6,651 19.3 790 2.3 1,253 3.6 1.975 5.7 11,974 34.7 14,394 41.8 763 2.2 843 2.6 27,974 81.3 43 1,061 5.633 820 1,078 1,857 10,492 11,545 729 846 23,612 0.1 % 3.4 18.0 2.6 3.4 6.1 33.6 36.9 2.3 2.7 75.5 Commitments and contingencies Shareholders' equity: Preferred stock - $5 par value, none issued Common stock - 5.50 par value; Shares issued and outstanding February 3, 2017 January 29, 2016 Capital in excess of par value Retained earnings 866 910 455 1.5 433 -- 6,241 1.3 - 18.1 7,593 24.3 Accumulated other comprehensive loss Total shareholders' equity Total liabilities and shareholders' equity (240) 6,434 34,408 (0.7) 18.7 100.0% (394) 7,654 31,266 (1.3) 24.5 100.0 % $ $ THE HOME DEPOT, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS January 29, January 31, $ 2.539 2.029 12,549 608 17,724 40,426 18,512 21,914 2,093 1,235 S42,966 S 2.216 1,890 11,809 569 16,484 39.266 17.075 22.191 2.102 1.196 S 41,973 Annans expr share and share date ASSETS Current Assets: Cash and Cash Equivalents Receivables, net Merchandise Inventories Other Current Assets Total Current Assets Property and Equipment, at cost Less Accumulated Depreciation and Amortization Net Property and Equipment Goodwill Other Assets Total Assets LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Short-Term Debt Accounts Payable Accrued Salaries and Related Expenses Sales Taxes Payable Deferred Revenue Income Taxes Payable Current Installments of Long-Term Debt Other Accrued Expenses Total Current Liabilities Long-Term Debt, excluding current installments Other Long-Term Liabilities Deferred Income Taxes Total Liabilities S S 710 7,000 1.484 508 1,669 350 6,565 1,513 476 1.566 25 77 542 2,195 14.133 22,349 1,855 296 38.633 1,941 12.524 20,789 1,965 379 35,657 STOCKHOLDERS' EQUITY Common Stock par value $0.05: authorized: 10 billion shares; issued: 1.776 billion shares at January 29, 2017 and 1.772 billion shares at January 31, 2016: Outstanding: 1.203 billion shares at January 29, 2017 and 1.252 billion shares at January 31, 2016 Paid-In Capital Retained Earnings Accumulated Other Comprehensive Loss Treasury Stock, at cost, 573 million shares at January 29, 2017 and 520 million shares at January 31, 2016 Total Stockholders' Equity Total Liabilities and Stockholders' Equity See accompanying Notes to Consolidated Financial Statements 88 9,787 35,519 (867) 9,347 30,973 (898) (40,194) 4,333 $ 42,966 (33,194) 6,316 $ 41,973 Lowe's Companies, Inc. Consolidated Statements of Cash Flows (In millions) February 2, 2018 February 3, 2017 January 29, 2016 $ 3,447 $ 3,093 $ 2,546 1,540 1,587 1,590 28 143 Fiscal years ended on Cash flows from operating activities Net carnings Adjustments to reconcile net carnings to net cash provided by operating activities: Depreciation and amortization Deferred income taxes Loss on property and other assets-net Loss on extinguishment of debt (Gain) loss on cost method and equity method investments Share-based payment expense Changes in operating assets and liabilities: Merchandise inventory -net Other operating assets Accounts payablo Other operating liabilities Net cash provided by operating activities (178) (183) (582) (34) 653 (92) 137 5,065 5,617 (981) 1.114 (1.123) (1,192) 1.254 (1.167) (934) 884 (1.197) (125) Cash flows from investing activities: Purchases of investments Proceeds from sale/maturity of investments Capital expenditures Contributions to cquity method investments - net Proceeds from sale of property and other long-term assets Purchases of derivative instruments Proceeds from settlement of derivative Instruments Acquisition of business - net Othernet Net cash used in investing activities 37 (509) (103) 179 (2.356) (13) (3,361) 13 (28) (1.441) (1,343) (61) Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents, beginning of year Cash and cash equivalents, end of year 153 405 558 466 TAGS S 405 (61) Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents, beginning of year Cash and cash equivalents, end of year 153 405 558 466 TAGS S 405 THE HOME DEPOT, INC. CONSOLIDATED BALANCE SHEETS January 28, 2018 January 29, $ $ 2,538 2,029 12,549 in millions, except per share data Assets Current assets: Cash and cash equivalents Receivables, net Merchandise inventories Other current assets Total current assets Net property and equipment Goodwill Other assets Total assets 608 3,595 1,952 12,748 638 18,933 22,075 2,275 1,246 44,529 17,724 21,914 2,093 1,235 42,966 $ $ $ $ Liabilities and Stockholders' Equity Current liabilities: Short-term debt Accounts payable Accrued salaries and related expenses Sales taxes payable Deferred revenue Income taxes payable Current installments of long-term debt Other accrued expenses Total current liabilities Long-term debt, excluding current installments 1,559 7,244 1,640 520 1,805 710 7,000 1,484 508 1,669 25 542 2,195 14,133 22,349 54 1,202 2,170 16,194 24,267 Deferred income taxes Other long-term liabilities Total liabilities 440 2,174 43,075 296 1,855 38,633 88 Common stock, par value $0.05; authorized: 10,000 shares; issued: 1,780 shares at January 28, 2018 and 1,776 shares at January 29, 2017 Paid-in capital Retained earnings Accumulated other comprehensive loss Treasury stock, at cost, 622 shares at January 28, 2018 and 573 shares at January 29, 2017 Total stockholders' equity Total liabilities and stockholders' equity See accompanying notes to consolidated financial statements. 89 10,192 39,935 (566) (48,196) 1,454 44,529 9,787 35,519 (867) (40,194) 4,333 42,966 $ $ Deferred income taxes Other long-term liabilities Total liabilities 440 2,174 43,075 296 1,855 38,633 88 Common stock, par value $0.05; authorized: 10,000 shares; issued: 1,780 shares at January 28, 2018 and 1,776 shares at January 29, 2017 Paid-in capital Retained earnings Accumulated other comprehensive loss Treasury stock, at cost, 622 shares at January 28, 2018 and 573 shares at January 29, 2017 Total stockholders' equity Total liabilities and stockholders' equity See accompanying notes to consolidated financial statements. 89 10,192 39,935 (566) (48,196) 1,454 44,529 9,787 35,519 (867) (40,194) 4,333 42,966 $ $ THE HOME DEPOT, INC. CONSOLIDATED STATEMENTS OF EARNINGS In parshme $ $ $ 100,904 88,548 34,358 94,596 62,212 32,313 88,519 58,254 30,285 17.132 16.301 17,864 1.811 18888 13,427 18.401 11.774 14,081 Cost of sales Gross pront Operating expenses Selling, geen and administrative Depreciation and amortization Total operating compenses Operating income Ines and other income) expense Interest and investment income Interest expensie Interest and other met Earnings before provision for income tax Provision for Income taxes Net camings 06 (106) 12.401 11021 $ 8.830 $ 7957 $ 7.000 1 Basic weighted average common shares Basic emings per share 1,178 733 $ 1,229 47 $ 277 5.49 $ Diluted weighted average common shares Diluted comings per share See accompanying notes to com e ancial statements $ 1,184 729 $ 1234 6.45 $ 1.283 5.48 Pacale 2010 7,057 $ $ 7000 THE HOME DEPOT INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME Fiscal 2011 Net eamings 3 8.830 Other comprehensive income loss Foreign currency translation adjustments Cash fow hedges, net of tax Other Tother comprehensive income loss) Comprehensive income $ 8,931 See accompanying notes to consolidated fire fotomenis. 340 $ 7,988 $ 6,503 THE HOME DEPOT INC. CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY ones, corper stare data Commen Sink HANC at beginning of year Shares issued under employee stock plans Balance at end of year 89 88 88 9,787 9.347 Paid in Capital: Balance at beginning of year Shares issued under employee stock plans Tax effect of stock-based compensation Stock-based compensation expense Balance at end of year 273 10.182 0787 9347 35,519 30,073 7,857 201,095 8.690 Retained Earnings: Balance at beginning of year Nelarnings Cash dividends ($3.56 per share in fiscal 2017, $2.76 per share in fiscal 2016, and $2.36 per share in fiscal 2015) Other Balance and of year (3,404) (4,212) (2) 39,935 35,510 30.875 (007) 311 (895) Accumulated Other Comprehensive Income (Loss: Balance beginning of year Foreign currency translation adjustments Cash fow hedges, net of tax Other BAAR at end of year (506) (387) Treasury Stock Balance at beginning of year Repurchases of common stock Balance at end of year Total stockholders' equity See accompanying notes to consolidated Anancial statements (40,184) 8.002) (48,190) 1454 43,16) (1,000) (40,104) 4,333 20,1M) (1,000) 39.1944) 6,318 $ $ $ THE HOME DEPOT, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS Piscal 8,800 $ TO 7000 Cash Flows from Oporting Activities: Nel coming Record of tearings to match provided by operating activities: Depression and mortation Stock-based compensation expense Gainon of investments Changes in and b enet of quition fects: 1,073 1,883 (138) (181) Merchandise inventories Other Brands Accounts payable and word perses Deferred were Incomens payable Deferred income taas Other Netosh provided by operating this 11171 0,373 (1. 17) 1.608) Cash Flow from investing Activities: Capital expenditures, net ofron cash capta pendures Preds from sales of investments Payments for businesses , not Proceeds from sales of property and equipment Other investing activities Netch used in investing activities (1.000) 12.226) (1.583) 2012) 3,991 13.045) 07.000 Cash Flows from Financing Activities: Proceeds from short-term debet Prema tom long term debt, of discounts Repayments of long term det Repurchases of common stock Procederom west common stock Cash dividends Other financing activities Net cash used in trancing activities Change in cash and cash equivalents Effect of charge le changes on cash and cash equivalents Cash and cash equivalent beginning of year Cash and cash equivale and of year 3,404) 13.001) 14,212) 211) 76 1.670 7.6701 $ 2,210 3.565 265 2210 Supplemental Diciones Cash paid for interest, net af interest capired Cash paid for income tas Non chapoal expenditures 3 991 4.732 150 0243 4.823 170 674 253 106 Lowe's Companies, Inc. Consolidated Balance Sheets (in millions, except par value) February 2, 2018 February 3, 2017 $ 558 100 10.458 Assets Current assets: Cash and cash equivalents Short-term investments Merchandise inventorynet Other current assets Total current assets Property, less accumulated depreciation Long-term investments Deferred income taxes - net Goodwill Other assets Total assets 588 102 11,393 689 12,772 19.721 408 168 1,307 915 35,291 12,000 19,949 366 222 1,082 789 34,408 S $ s Liabilities and shareholders' equity Current liabilities: Short-term borrowings Current maturities of long-term debt Accounts payable Accrued compensation and employee benefits Deferred revenue Other current liabilities Total current liabilities Long-term debt, excluding current maturities Deferred revenue - extended protection plans Other liabilities Total liabilities 1,137 294 6,590 747 1,378 1.950 12,096 15,564 510 795 6,651 790 1,253 1,975 11,974 14,394 763 843 27,974 803 955 29.418 Commitments and contingencies Shareholders' equity: Preferred stock - $5 par value, none issued Common stock - S.50 par value; Shares issued and outstanding February 2, 2018 February 3, 2017 Capital in excess of par value Retained earnings Accumulated other comprehensive income/loss) Total shareholders' equity Total liabilities and shareholders' equity 830 866 415 433 5,425 6,241 (240) 6,434 34,408 5,873 35,291 $ Lowe's Companies, Inc. Consolidated Balance Sheets (in millions, except par value and percentage data) February 3, 2017 % Total January 29, 2016 % Total $ S Assets Current assets: Cash and cash equivalents Short-term investments Merchandise inventory - net Other current assets Total current assets Property, less accumulated depreciation Long-term investments Deferred income taxes-net Goodwill Other assets Total assets 558 100 10,458 884 12,000 19.949 366 222 1,082 789 34,408 1.6% 0.3 30.4 2.6 34.9 58.0 1.1 0.6 3.1 2.3 100.0% 405 307 9.458 391 10,561 19,577 222 241 154 511 31,266 1.3% 1.0 30.3 1.3 33.9 62.6 0.7 0.8 0.5 1.5 100.0 % $ $ S $ Liabilities and shareholders' equity Current liabilities: Short-term borrowings Current maturities of long-term debt Accounts payable Accrued compensation and employee benefits Deferred revenue Other current liabilities Total current liabilities Long-term debt, excluding current maturities Deferred revenue-extended protection plans Other liabilities Total liabilities 510 1.5% 79523 6,651 19.3 790 2.3 1,253 3.6 1.975 5.7 11,974 34.7 14,394 41.8 763 2.2 843 2.6 27,974 81.3 43 1,061 5.633 820 1,078 1,857 10,492 11,545 729 846 23,612 0.1 % 3.4 18.0 2.6 3.4 6.1 33.6 36.9 2.3 2.7 75.5 Commitments and contingencies Shareholders' equity: Preferred stock - $5 par value, none issued Common stock - 5.50 par value; Shares issued and outstanding February 3, 2017 January 29, 2016 Capital in excess of par value Retained earnings 866 910 455 1.5 433 -- 6,241 1.3 - 18.1 7,593 24.3 Accumulated other comprehensive loss Total shareholders' equity Total liabilities and shareholders' equity (240) 6,434 34,408 (0.7) 18.7 100.0% (394) 7,654 31,266 (1.3) 24.5 100.0 % $ $ THE HOME DEPOT, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS January 29, January 31, $ 2.539 2.029 12,549 608 17,724 40,426 18,512 21,914 2,093 1,235 S42,966 S 2.216 1,890 11,809 569 16,484 39.266 17.075 22.191 2.102 1.196 S 41,973 Annans expr share and share date ASSETS Current Assets: Cash and Cash Equivalents Receivables, net Merchandise Inventories Other Current Assets Total Current Assets Property and Equipment, at cost Less Accumulated Depreciation and Amortization Net Property and Equipment Goodwill Other Assets Total Assets LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Short-Term Debt Accounts Payable Accrued Salaries and Related Expenses Sales Taxes Payable Deferred Revenue Income Taxes Payable Current Installments of Long-Term Debt Other Accrued Expenses Total Current Liabilities Long-Term Debt, excluding current installments Other Long-Term Liabilities Deferred Income Taxes Total Liabilities S S 710 7,000 1.484 508 1,669 350 6,565 1,513 476 1.566 25 77 542 2,195 14.133 22,349 1,855 296 38.633 1,941 12.524 20,789 1,965 379 35,657 STOCKHOLDERS' EQUITY Common Stock par value $0.05: authorized: 10 billion shares; issued: 1.776 billion shares at January 29, 2017 and 1.772 billion shares at January 31, 2016: Outstanding: 1.203 billion shares at January 29, 2017 and 1.252 billion shares at January 31, 2016 Paid-In Capital Retained Earnings Accumulated Other Comprehensive Loss Treasury Stock, at cost, 573 million shares at January 29, 2017 and 520 million shares at January 31, 2016 Total Stockholders' Equity Total Liabilities and Stockholders' Equity See accompanying Notes to Consolidated Financial Statements 88 9,787 35,519 (867) 9,347 30,973 (898) (40,194) 4,333 $ 42,966 (33,194) 6,316 $ 41,973 Lowe's Companies, Inc. Consolidated Statements of Cash Flows (In millions) February 2, 2018 February 3, 2017 January 29, 2016 $ 3,447 $ 3,093 $ 2,546 1,540 1,587 1,590 28 143 Fiscal years ended on Cash flows from operating activities Net carnings Adjustments to reconcile net carnings to net cash provided by operating activities: Depreciation and amortization Deferred income taxes Loss on property and other assets-net Loss on extinguishment of debt (Gain) loss on cost method and equity method investments Share-based payment expense Changes in operating assets and liabilities: Merchandise inventory -net Other operating assets Accounts payablo Other operating liabilities Net cash provided by operating activities (178) (183) (582) (34) 653 (92) 137 5,065 5,617 (981) 1.114 (1.123) (1,192) 1.254 (1.167) (934) 884 (1.197) (125) Cash flows from investing activities: Purchases of investments Proceeds from sale/maturity of investments Capital expenditures Contributions to cquity method investments - net Proceeds from sale of property and other long-term assets Purchases of derivative instruments Proceeds from settlement of derivative Instruments Acquisition of business - net Othernet Net cash used in investing activities 37 (509) (103) 179 (2.356) (13) (3,361) 13 (28) (1.441) (1,343) (61) Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents, beginning of year Cash and cash equivalents, end of year 153 405 558 466 TAGS S 405 (61) Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents, beginning of year Cash and cash equivalents, end of year 153 405 558 466 TAGS S 405 THE HOME DEPOT, INC. CONSOLIDATED BALANCE SHEETS January 28, 2018 January 29, $ $ 2,538 2,029 12,549 in millions, except per share data Assets Current assets: Cash and cash equivalents Receivables, net Merchandise inventories Other current assets Total current assets Net property and equipment Goodwill Other assets Total assets 608 3,595 1,952 12,748 638 18,933 22,075 2,275 1,246 44,529 17,724 21,914 2,093 1,235 42,966 $ $ $ $ Liabilities and Stockholders' Equity Current liabilities: Short-term debt Accounts payable Accrued salaries and related expenses Sales taxes payable Deferred revenue Income taxes payable Current installments of long-term debt Other accrued expenses Total current liabilities Long-term debt, excluding current installments 1,559 7,244 1,640 520 1,805 710 7,000 1,484 508 1,669 25 542 2,195 14,133 22,349 54 1,202 2,170 16,194 24,267 Deferred income taxes Other long-term liabilities Total liabilities 440 2,174 43,075 296 1,855 38,633 88 Common stock, par value $0.05; authorized: 10,000 shares; issued: 1,780 shares at January 28, 2018 and 1,776 shares at January 29, 2017 Paid-in capital Retained earnings Accumulated other comprehensive loss Treasury stock, at cost, 622 shares at January 28, 2018 and 573 shares at January 29, 2017 Total stockholders' equity Total liabilities and stockholders' equity See accompanying notes to consolidated financial statements. 89 10,192 39,935 (566) (48,196) 1,454 44,529 9,787 35,519 (867) (40,194) 4,333 42,966 $ $ Deferred income taxes Other long-term liabilities Total liabilities 440 2,174 43,075 296 1,855 38,633 88 Common stock, par value $0.05; authorized: 10,000 shares; issued: 1,780 shares at January 28, 2018 and 1,776 shares at January 29, 2017 Paid-in capital Retained earnings Accumulated other comprehensive loss Treasury stock, at cost, 622 shares at January 28, 2018 and 573 shares at January 29, 2017 Total stockholders' equity Total liabilities and stockholders' equity See accompanying notes to consolidated financial statements. 89 10,192 39,935 (566) (48,196) 1,454 44,529 9,787 35,519 (867) (40,194) 4,333 42,966 $ $ THE HOME DEPOT, INC. CONSOLIDATED STATEMENTS OF EARNINGS In parshme $ $ $ 100,904 88,548 34,358 94,596 62,212 32,313 88,519 58,254 30,285 17.132 16.301 17,864 1.811 18888 13,427 18.401 11.774 14,081 Cost of sales Gross pront Operating expenses Selling, geen and administrative Depreciation and amortization Total operating compenses Operating income Ines and other income) expense Interest and investment income Interest expensie Interest and other met Earnings before provision for income tax Provision for Income taxes Net camings 06 (106) 12.401 11021 $ 8.830 $ 7957 $ 7.000 1 Basic weighted average common shares Basic emings per share 1,178 733 $ 1,229 47 $ 277 5.49 $ Diluted weighted average common shares Diluted comings per share See accompanying notes to com e ancial statements $ 1,184 729 $ 1234 6.45 $ 1.283 5.48 Pacale 2010 7,057 $ $ 7000 THE HOME DEPOT INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME Fiscal 2011 Net eamings 3 8.830 Other comprehensive income loss Foreign currency translation adjustments Cash fow hedges, net of tax Other Tother comprehensive income loss) Comprehensive income $ 8,931 See accompanying notes to consolidated fire fotomenis. 340 $ 7,988 $ 6,503 THE HOME DEPOT INC. CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY ones, corper stare data Commen Sink HANC at beginning of year Shares issued under employee stock plans Balance at end of year 89 88 88 9,787 9.347 Paid in Capital: Balance at beginning of year Shares issued under employee stock plans Tax effect of stock-based compensation Stock-based compensation expense Balance at end of year 273 10.182 0787 9347 35,519 30,073 7,857 201,095 8.690 Retained Earnings: Balance at beginning of year Nelarnings Cash dividends ($3.56 per share in fiscal 2017, $2.76 per share in fiscal 2016, and $2.36 per share in fiscal 2015) Other Balance and of year (3,404) (4,212) (2) 39,935 35,510 30.875 (007) 311 (895) Accumulated Other Comprehensive Income (Loss: Balance beginning of year Foreign currency translation adjustments Cash fow hedges, net of tax Other BAAR at end of year (506) (387) Treasury Stock Balance at beginning of year Repurchases of common stock Balance at end of year Total stockholders' equity See accompanying notes to consolidated Anancial statements (40,184) 8.002) (48,190) 1454 43,16) (1,000) (40,104) 4,333 20,1M) (1,000) 39.1944) 6,318 $ $ $ THE HOME DEPOT, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS Piscal 8,800 $ TO 7000 Cash Flows from Oporting Activities: Nel coming Record of tearings to match provided by operating activities: Depression and mortation Stock-based compensation expense Gainon of investments Changes in and b enet of quition fects: 1,073 1,883 (138) (181) Merchandise inventories Other Brands Accounts payable and word perses Deferred were Incomens payable Deferred income taas Other Netosh provided by operating this 11171 0,373 (1. 17) 1.608) Cash Flow from investing Activities: Capital expenditures, net ofron cash capta pendures Preds from sales of investments Payments for businesses , not Proceeds from sales of property and equipment Other investing activities Netch used in investing activities (1.000) 12.226) (1.583) 2012) 3,991 13.045) 07.000 Cash Flows from Financing Activities: Proceeds from short-term debet Prema tom long term debt, of discounts Repayments of long term det Repurchases of common stock Procederom west common stock Cash dividends Other financing activities Net cash used in trancing activities Change in cash and cash equivalents Effect of charge le changes on cash and cash equivalents Cash and cash equivalent beginning of year Cash and cash equivale and of year 3,404) 13.001) 14,212) 211) 76 1.670 7.6701 $ 2,210 3.565 265 2210 Supplemental Diciones Cash paid for interest, net af interest capired Cash paid for income tas Non chapoal expenditures 3 991 4.732 150 0243 4.823 170 674 253 106 Lowe's Companies, Inc. Consolidated Balance Sheets (in millions, except par value) February 2, 2018 February 3, 2017 $ 558 100 10.458 Assets Current assets: Cash and cash equivalents Short-term investments Merchandise inventorynet Other current assets Total current assets Property, less accumulated depreciation Long-term investments Deferred income taxes - net Goodwill Other assets Total assets 588 102 11,393 689 12,772 19.721 408 168 1,307 915 35,291 12,000 19,949 366 222 1,082 789 34,408 S $ s Liabilities and shareholders' equity Current liabilities: Short-term borrowings Current maturities of long-term debt Accounts payable Accrued compensation and employee benefits Deferred revenue Other current liabilities Total current liabilities Long-term debt, excluding current maturities Deferred revenue - extended protection plans Other liabilities Total liabilities 1,137 294 6,590 747 1,378 1.950 12,096 15,564 510 795 6,651 790 1,253 1,975 11,974 14,394 763 843 27,974 803 955 29.418 Commitments and contingencies Shareholders' equity: Preferred stock - $5 par value, none issued Common stock - S.50 par value; Shares issued and outstanding February 2, 2018 February 3, 2017 Capital in excess of par value Retained earnings Accumulated other comprehensive income/loss) Total shareholders' equity Total liabilities and shareholders' equity 830 866 415 433 5,425 6,241 (240) 6,434 34,408 5,873 35,291 $