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Pro Forma Income Statement Report Date 2018 2017 2016 2015 Scale Millions Millions Millions Millions Net sales 71,309 68,619 65,017 59,074 Cost of sales 48,401
Pro Forma Income Statement Report Date 2018 2017 2016 2015 Scale Millions Millions Millions Millions Net sales 71,309 68,619 65,017 59,074 Cost of sales 48,401 46,185 43,343 38,504 Gross margin 22,908 22,434 21,674 20,570 Selling, general and administrative expenses 17,413 14,444 14,375 14,105 Depreciation and amortization expenses 1,477 1,404 1,453 1,494 Operating income 4,018 6,586 5,846 4,971 Interest expenses 624 633 645 552 Loss on extinguishment of debt 0 464 0 0 Pre-tax earnings 3,394 5,489 5,201 4,419 Income tax provision 1,080 2,042 2,108 1,873 Net earnings 2,314 3,447 3,093 2,546 Additional Information: Report Date 2018 2017 2016 2015 Scale Millions Millions Millions Millions Net cash flows from operating activities 6,193 5,065 5,617 4,784 THE HOME DEPOT, INC. (NYSE: HD) Pro Forma Balance Sheet Common-Size Balance sheet Report Date 2018 2017 2016 2015 FY 2018 FY 2017 FY 2016 3 year average Scale Millions Millions Millions Millions (In Percentages) (In Percentages) (In Percentages) (In Percentages) Assets Assets Current assets: Current assets: Cash and cash equivalents 1,778 3,595 2,538 2,216 Cash and cash equivalents Receivables, net 1,936 1,952 2,029 1,890 Receivables, net Merchandise inventories 13,925 12,748 12,549 11,809 Merchandise inventories Other current assets 890 638 608 569 Other current assets Total current assets 18,529 18,933 17,724 16,484 Total current assets Net property and equipment 22,375 22,075 21,914 22,191 Net property and equipment Operating lease right-of-use assets 0 0 0 0 Operating lease right-of-use assets Goodwill 2,252 2,275 2,093 2,102 Goodwill Other assets 847 1,246 1,235 1,196 Other assets Total assets 44,003 44,529 42,966 41,937 Total assets Liabilities and Stockholders Equity Liabilities and Stockholders Equity Current liabilities: Current liabilities: Short-term debt 1,339 1,559 710 350 Short-term debt Accounts payable 7,755 7,244 7,000 6,565 Accounts payable Accrued salaries and related expenses 1,506 1,640 1,484 1,515 Accrued salaries and related expenses Sales taxes payable 656 520 508 476 Sales taxes payable Deferred revenue 1,782 1,805 1,669 1,566 Deferred revenue Income taxes payable 11 54 25 34 Income taxes payable Current installments of long-term debt 1,056 1,202 542 77 Current installments of long-term debt Current operating lease liabilities 0 0 0 0 Current operating lease liabilities Other accrued expenses 2,611 2,170 2,195 1,941 Other accrued expenses Total current liabilities 16,716 16,194 14,133 12,524 Total current liabilities Long-term debt, excluding current installments 26,807 24,267 22,349 20,789 Long-term debt, excluding current installments Long-term operating lease liabilities 0 0 0 0 Long-term operating lease liabilities Deferred income taxes 491 440 296 379 Deferred income taxes Other long-term liabilities 1,867 2,174 1,855 1,965 Other long-term liabilities Total liabilities 45,881 43,075 38,633 35,657 Total liabilities Shareholders equity: Shareholders equity: Common stock 89 89 88 88 Common stock Paid-in capital 10,578 10,192 9,787 9,347 Paid-in capital Retained earnings 46,423 39,935 35,519 30,973 Retained earnings Accumulated other comprehensive loss (772) (566) (867) (898) Accumulated other comprehensive loss Treasury stock (58,196) (48,196) (40,194) (33,194) Treasury stock Total stockholders (deficit) equity (1,878) 1,454 4,333 6,316 Total stockholders (deficit) equity Total liabilities and stockholders equity 44,003 44,529 42,966 41,973 Total liabilities and stockholders equity Pro Forma Income Statement Common-Size Income statement Report Date 2018 2017 2016 2015 FY 2018 FY 2017 FY 2016 3 year average Scale Millions Millions Millions Millions (In Percentages) (In Percentages) (In Percentages) (In Percentages) Net sales 108,203 100,904 94,595 88,519 Net sales Cost of sales 71,043 66,548 62,282 58,254 Cost of sales Gross profit 37,160 34,356 32,313 30,265 Gross profit Selling, general and administrative 19,513 17,864 17,132 16,801 Selling, general and administrative Depreciation and amortization 2,117 1,811 1,754 1,690 Depreciation and amortization Operating income 15,530 14,681 13,427 11,774 Operating income Interest and investment income 93 74 36 166 Interest and investment income Interest expense 1,067 1,057 972 919 Interest expense Earnings before provision for income taxes 14,556 13,698 12,491 11,021 Earnings before provision for income taxes Provision for income taxes 3,435 5,068 4,534 4,012 Provision for income taxes Net earnings 11,121 8,630 7,957 7,009 Net earnings THE HOME DEPOT, INC. (NYSE: HD) Pro Forma Balance Sheet Comparative Balance sheet Report Date 2018 2017 2016 2015 FY 2018 FY 2017 FY 2016 3 year average Scale Millions Millions Millions Millions (In Percentages) (In Percentages) (In Percentages) (In Percentages) Assets Assets Current assets: Current assets: Cash and cash equivalents 1,778 3,595 2,538 2,216 Cash and cash equivalents Receivables, net 1,936 1,952 2,029 1,890 Receivables, net Merchandise inventories 13,925 12,748 12,549 11,809 Merchandise inventories Other current assets 890 638 608 569 Other current assets Total current assets 18,529 18,933 17,724 16,484 Total current assets Net property and equipment 22,375 22,075 21,914 22,191 Net property and equipment Operating lease right-of-use assets 0 0 0 0 Operating lease right-of-use assets Goodwill 2,252 2,275 2,093 2,102 Goodwill Other assets 847 1,246 1,235 1,196 Other assets Total assets 44,003 44,529 42,966 41,937 Total assets Liabilities and Stockholders Equity Liabilities and Stockholders Equity Current liabilities: Current liabilities: Short-term debt 1,339 1,559 710 350 Short-term debt Accounts payable 7,755 7,244 7,000 6,565 Accounts payable Accrued salaries and related expenses 1,506 1,640 1,484 1,515 Accrued salaries and related expenses Sales taxes payable 656 520 508 476 Sales taxes payable Deferred revenue 1,782 1,805 1,669 1,566 Deferred revenue Income taxes payable 11 54 25 34 Income taxes payable Current installments of long-term debt 1,056 1,202 542 77 Current installments of long-term debt Current operating lease liabilities 0 0 0 0 Current operating lease liabilities Other accrued expenses 2,611 2,170 2,195 1,941 Other accrued expenses Total current liabilities 16,716 16,194 14,133 12,524 Total current liabilities Long-term debt, excluding current installments 26,807 24,267 22,349 20,789 Long-term debt, excluding current installments Long-term operating lease liabilities 0 0 0 0 Long-term operating lease liabilities Deferred income taxes 491 440 296 379 Deferred income taxes Other long-term liabilities 1,867 2,174 1,855 1,965 Other long-term liabilities Total liabilities 45,881 43,075 38,633 35,657 Total liabilities Shareholders equity: Shareholders equity: Common stock 89 89 88 88 Common stock Paid-in capital 10,578 10,192 9,787 9,347 Paid-in capital Retained earnings 46,423 39,935 35,519 30,973 Retained earnings Accumulated other comprehensive loss (772) (566) (867) (898) Accumulated other comprehensive loss Treasury stock (58,196) (48,196) (40,194) (33,194) Treasury stock Total stockholders (deficit) equity (1,878) 1,454 4,333 6,316 Total stockholders (deficit) equity Total liabilities and stockholders equity 44,003 44,529 42,966 41,973 Total liabilities and stockholders equity Pro Forma Income Statement Comparative Income statement Report Date 2018 2017 2016 2015 FY 2018 FY 2017 FY 2016 3 year average Scale Millions Millions Millions Millions (In Percentages) (In Percentages) (In Percentages) (In Percentages) Net sales 108,203 100,904 94,595 88,519 Net sales Cost of sales 71,043 66,548 62,282 58,254 Cost of sales Gross profit 37,160 34,356 32,313 30,265 Gross profit Selling, general and administrative 19,513 17,864 17,132 16,801 Selling, general and administrative Depreciation and amortization 2,117 1,811 1,754 1,690 Depreciation and amortization Operating income 15,530 14,681 13,427 11,774 Operating income Interest and investment income 93 74 36 166 Interest and investment income Interest expense 1,067 1,057 972 919 Interest expense Earnings before provision for income taxes 14,556 13,698 12,491 11,021 Earnings before provision for income taxes Provision for income taxes 3,435 5,068 4,534 4,012 Provision for income taxes Net earnings 11,121 8,630 7,957 7,009 Net earnings
Pro Forma Income Statement
Report Date
2018
2017
2016
2015
Scale
Millions
Millions
Millions
Millions
Net sales
71,309
68,619
65,017
59,074
Cost of sales
48,401
46,185
43,343
38,504
Gross margin
22,908
22,434
21,674
20,570
Selling, general and administrative expenses
17,413
14,444
14,375
14,105
Depreciation and amortization expenses
1,477
1,404
1,453
1,494
Operating income
4,018
6,586
5,846
4,971
Interest expenses
624
633
645
552
Loss on extinguishment of debt
0
464
0
0
Pre-tax earnings
3,394
5,489
5,201
4,419
Income tax provision
1,080
2,042
2,108
1,873
Net earnings
2,314
3,447
3,093
2,546
Additional Information:
Report Date
2018
2017
2016
2015
Scale
Millions
Millions
Millions
Millions
Net cash flows from operating activities
6,193
5,065
5,617
4,784
THE HOME DEPOT, INC. (NYSE: HD)
Pro Forma Balance Sheet Common-Size Balance sheet
Report Date 2018 2017 2016 2015 FY 2018 FY 2017 FY 2016 3 year average
Scale Millions Millions Millions Millions (In Percentages) (In Percentages) (In Percentages) (In Percentages)
Assets Assets
Current assets: Current assets:
Cash and cash equivalents 1,778 3,595 2,538 2,216 Cash and cash equivalents
Receivables, net 1,936 1,952 2,029 1,890 Receivables, net
Merchandise inventories 13,925 12,748 12,549 11,809 Merchandise inventories
Other current assets 890 638 608 569 Other current assets
Total current assets 18,529 18,933 17,724 16,484 Total current assets
Net property and equipment 22,375 22,075 21,914 22,191 Net property and equipment
Operating lease right-of-use assets 0 0 0 0 Operating lease right-of-use assets
Goodwill 2,252 2,275 2,093 2,102 Goodwill
Other assets 847 1,246 1,235 1,196 Other assets
Total assets 44,003 44,529 42,966 41,937 Total assets
Liabilities and Stockholders Equity Liabilities and Stockholders Equity
Current liabilities: Current liabilities:
Short-term debt 1,339 1,559 710 350 Short-term debt
Accounts payable 7,755 7,244 7,000 6,565 Accounts payable
Accrued salaries and related expenses 1,506 1,640 1,484 1,515 Accrued salaries and related expenses
Sales taxes payable 656 520 508 476 Sales taxes payable
Deferred revenue 1,782 1,805 1,669 1,566 Deferred revenue
Income taxes payable 11 54 25 34 Income taxes payable
Current installments of long-term debt 1,056 1,202 542 77 Current installments of long-term debt
Current operating lease liabilities 0 0 0 0 Current operating lease liabilities
Other accrued expenses 2,611 2,170 2,195 1,941 Other accrued expenses
Total current liabilities 16,716 16,194 14,133 12,524 Total current liabilities
Long-term debt, excluding current installments 26,807 24,267 22,349 20,789 Long-term debt, excluding current installments
Long-term operating lease liabilities 0 0 0 0 Long-term operating lease liabilities
Deferred income taxes 491 440 296 379 Deferred income taxes
Other long-term liabilities 1,867 2,174 1,855 1,965 Other long-term liabilities
Total liabilities 45,881 43,075 38,633 35,657 Total liabilities
Shareholders equity: Shareholders equity:
Common stock 89 89 88 88 Common stock
Paid-in capital 10,578 10,192 9,787 9,347 Paid-in capital
Retained earnings 46,423 39,935 35,519 30,973 Retained earnings
Accumulated other comprehensive loss (772) (566) (867) (898) Accumulated other comprehensive loss
Treasury stock (58,196) (48,196) (40,194) (33,194) Treasury stock
Total stockholders (deficit) equity (1,878) 1,454 4,333 6,316 Total stockholders (deficit) equity
Total liabilities and stockholders equity 44,003 44,529 42,966 41,973 Total liabilities and stockholders equity
Pro Forma Income Statement Common-Size Income statement
Report Date 2018 2017 2016 2015 FY 2018 FY 2017 FY 2016 3 year average
Scale Millions Millions Millions Millions (In Percentages) (In Percentages) (In Percentages) (In Percentages)
Net sales 108,203 100,904 94,595 88,519 Net sales
Cost of sales 71,043 66,548 62,282 58,254 Cost of sales
Gross profit 37,160 34,356 32,313 30,265 Gross profit
Selling, general and administrative 19,513 17,864 17,132 16,801 Selling, general and administrative
Depreciation and amortization 2,117 1,811 1,754 1,690 Depreciation and amortization
Operating income 15,530 14,681 13,427 11,774 Operating income
Interest and investment income 93 74 36 166 Interest and investment income
Interest expense 1,067 1,057 972 919 Interest expense
Earnings before provision for income taxes 14,556 13,698 12,491 11,021 Earnings before provision for income taxes
Provision for income taxes 3,435 5,068 4,534 4,012 Provision for income taxes
Net earnings 11,121 8,630 7,957 7,009 Net earnings
THE HOME DEPOT, INC. (NYSE: HD)
Pro Forma Balance Sheet Comparative Balance sheet
Report Date 2018 2017 2016 2015 FY 2018 FY 2017 FY 2016 3 year average
Scale Millions Millions Millions Millions (In Percentages) (In Percentages) (In Percentages) (In Percentages)
Assets Assets
Current assets: Current assets:
Cash and cash equivalents 1,778 3,595 2,538 2,216 Cash and cash equivalents
Receivables, net 1,936 1,952 2,029 1,890 Receivables, net
Merchandise inventories 13,925 12,748 12,549 11,809 Merchandise inventories
Other current assets 890 638 608 569 Other current assets
Total current assets 18,529 18,933 17,724 16,484 Total current assets
Net property and equipment 22,375 22,075 21,914 22,191 Net property and equipment
Operating lease right-of-use assets 0 0 0 0 Operating lease right-of-use assets
Goodwill 2,252 2,275 2,093 2,102 Goodwill
Other assets 847 1,246 1,235 1,196 Other assets
Total assets 44,003 44,529 42,966 41,937 Total assets
Liabilities and Stockholders Equity Liabilities and Stockholders Equity
Current liabilities: Current liabilities:
Short-term debt 1,339 1,559 710 350 Short-term debt
Accounts payable 7,755 7,244 7,000 6,565 Accounts payable
Accrued salaries and related expenses 1,506 1,640 1,484 1,515 Accrued salaries and related expenses
Sales taxes payable 656 520 508 476 Sales taxes payable
Deferred revenue 1,782 1,805 1,669 1,566 Deferred revenue
Income taxes payable 11 54 25 34 Income taxes payable
Current installments of long-term debt 1,056 1,202 542 77 Current installments of long-term debt
Current operating lease liabilities 0 0 0 0 Current operating lease liabilities
Other accrued expenses 2,611 2,170 2,195 1,941 Other accrued expenses
Total current liabilities 16,716 16,194 14,133 12,524 Total current liabilities
Long-term debt, excluding current installments 26,807 24,267 22,349 20,789 Long-term debt, excluding current installments
Long-term operating lease liabilities 0 0 0 0 Long-term operating lease liabilities
Deferred income taxes 491 440 296 379 Deferred income taxes
Other long-term liabilities 1,867 2,174 1,855 1,965 Other long-term liabilities
Total liabilities 45,881 43,075 38,633 35,657 Total liabilities
Shareholders equity: Shareholders equity:
Common stock 89 89 88 88 Common stock
Paid-in capital 10,578 10,192 9,787 9,347 Paid-in capital
Retained earnings 46,423 39,935 35,519 30,973 Retained earnings
Accumulated other comprehensive loss (772) (566) (867) (898) Accumulated other comprehensive loss
Treasury stock (58,196) (48,196) (40,194) (33,194) Treasury stock
Total stockholders (deficit) equity (1,878) 1,454 4,333 6,316 Total stockholders (deficit) equity
Total liabilities and stockholders equity 44,003 44,529 42,966 41,973 Total liabilities and stockholders equity
Pro Forma Income Statement Comparative Income statement
Report Date 2018 2017 2016 2015 FY 2018 FY 2017 FY 2016 3 year average
Scale Millions Millions Millions Millions (In Percentages) (In Percentages) (In Percentages) (In Percentages)
Net sales 108,203 100,904 94,595 88,519 Net sales
Cost of sales 71,043 66,548 62,282 58,254 Cost of sales
Gross profit 37,160 34,356 32,313 30,265 Gross profit
Selling, general and administrative 19,513 17,864 17,132 16,801 Selling, general and administrative
Depreciation and amortization 2,117 1,811 1,754 1,690 Depreciation and amortization
Operating income 15,530 14,681 13,427 11,774 Operating income
Interest and investment income 93 74 36 166 Interest and investment income
Interest expense 1,067 1,057 972 919 Interest expense
Earnings before provision for income taxes 14,556 13,698 12,491 11,021 Earnings before provision for income taxes
Provision for income taxes 3,435 5,068 4,534 4,012 Provision for income taxes
Net earnings 11,121 8,630 7,957 7,009 Net earnings
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