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Lowe's Companies, Inc. Dollar amounts in Millions Common-Size Balance Sheets Feb. 01, 2019 Feb. 02, 2018 Current assets: Cash and cash equivalents $ 511 $

Lowe's Companies, Inc.

Dollar amounts in Millions

Common-Size Balance Sheets

Feb. 01, 2019

Feb. 02, 2018

Current assets:

Cash and cash equivalents

$ 511

$ 588

Short-term investments

218

102

Merchandise inventory - net

12,561

11,393

Other current assets

938

689

Total current assets

14,228

12,772

Property, less accumulated depreciation

18,432

19,721

Long-term investments

256

408

Deferred income taxes - net

294

168

Goodwill

303

1,307

Other assets

995

915

Total assets

34,508

35,291

Current liabilities:

Short-term borrowings

722

1,137

Current maturities of long-term debt

1,110

294

Accounts payable

8,279

6,590

Accrued compensation and employee benefits

662

747

Deferred revenue

1,299

1,378

Other current liabilities

2,425

1,950

Total current liabilities

14,497

12,096

Long-term debt, excluding current maturities

14,391

15,564

Deferred revenue - extended protection plans

827

803

Other liabilities

1,149

955

Total liabilities

30,864

29,418

Shareholders equity:

Preferred stock - $5 par value, none issued

0

0

Common stock - $.50 par value; Shares issued and outstanding 801 at February 1, 2019 and 830 at February 2, 2018, respectively

401

415

Capital in excess of par value

0

22

Retained earnings

3,452

5,425

Accumulated other comprehensive income/(loss)

(209)

11

Total shareholders equity

3,644

5,873

Total liabilities and shareholders equity

$ 34,508

$ 35,291

a. What proportion of assets are financed with equity per your common-sized balance sheet of the current year from Part 2 or a deficit? Explain what this percentage means.

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