Lowes Companies Inc Consolidated Statements of Earnings - USD ($) $ in 12 Months Ended Millions Jan. 28, 2022 Jan. 29, 2021 Jan. 31, 2020 Current Earnings Net sales Cost of sales $ 96,250 $89,597 $ 72,148 64,194 60,025 49,205 Gross margin Expenses: Selling, general and administrative Depreciation and amortization Operating income Interest-net Loss on extinguishment of debt Pre-tax earnings 32,056 29,572 22,943 18,301 18,526 15,367 1,662 1,399 1,262 12,093 9,647 6,314 885 848 691 0 1,060 0 11,208 7,739 5,623 Income tax provision 2,766 1,904 1,342 Net earnings $8,442 $5,835 $4,281 Basic earnings per common share (in dollars per $12.07 $7.77 $5.49 Diluted earnings per common share (in dollars per $12.04 $7.75 $5.49 Current Earnings (Percentages) Net sales 100.00% 100.00% 100.00% Cost of sales 66.70% 66.99% 68.20% Gross margin 33.30% 33.01% 31.80% Expenses (Percentages) Selling, general and administrative 19.01% 20.68% 21.30% Depreciation and amortization 1.73% 1.56% 1.75% Operating income 12.56% 10.77% 8.75% Interest-net 0.92% 0.95% 0.96% Loss on extinguishment of debt 0.00% 1.18% 0.00% Pre-tax earnings 11.64% 8.64% 7.79% Income tax provision 2.87% 2.13% 1.86% Net earnings 8.77% 6.51% 5.93%