Lowe's 1999 Annual Report Download - page 32

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30
Note 13 – Litigation
The Company is a defendant in legal proceedings considered
to be in the normal course of business, none of which, singularly
or collectively, are considered material to the Company.
Note 14 – Other Information
Net interest expense is composed of the following:
1999 1998 1997
(In Thousands)
Long-Term Debt $86,675 $68,800 $40,139
Mortgage Interest 6,686 7,044 3,441
Capitalized Leases 42,552 39,255 38,447
Short-Term Debt 5,847 5,578 7,917
Amortization of Loan Costs 801 1,144 931
Interest Income (38,373) (23,300) (10,293)
Interest Capitalized (19,336) (17,580) (8,967)
Net Interest Expense $84,852 $80,941 $71,615
Supplemental Disclosures of Cash Flow Information:
1999 1998 1997
(In Thousands)
Cash Paid for Interest
(Net of Amount Capitalized) $128,265 $112,383 $ 83,209
Cash Paid for Income Taxes $408,366 $280,230 $209,620
Noncash Investing
and Financing Activities:
Fixed Assets Acquired
Under Capital Leases $ 27,573 $ 47,303 $ 32,738
Termination of Capital Leases — 10,401 —
Common Stock Issued to
ESOP (Note 11) 59,544 60,074 56,630
Common Stock Issued
to Executives and
Directors, net of
Unearned Compensation 12,488 17,853 6,407
Conversion of Debt
to Common Stock — 87,270 —
Notes Received in
Exchange for Assets 1,980 — 600
Notes Issued in
Exchange for Assets $ — $ 6,014 $ 2,200
Sales by Product Category:
1999 1998 1997
(Dollars in Millions) Total Total Total
Product Category Sales % Sales % Sales %
Fashion Plumbing
& Electrical $ 1,803 11% $ 1,630 12% $ 1,372 12%
Tools 1,626 10 1,321 10 1,082 10
Building Materials 1,333 8 1,139 9 995 9
Hardware 1,251 8 983 7 804 7
Outdoor Hardlines 1,188 8 957 7 812 7
Appliances 1,169 7 921 7 676 6
Lumber 1,152 7 1,091 8 1,035 9
Nursery &
Gardening Products 1,133 7 989 7 786 7
Floors, W indows
& Walls 1,086 7 914 7 711 7
Millwork 1,020 6 803 6 664 6
Paint & Sundries 960 6 830 6 691 6
Rough Plumbing
& Electrical 910 6 681 5 562 5
Cabinets & Furniture 613 4 467 4 382 3
Other 662 5 605 5 536 6
Totals $15,906 100% $13,331 100% $11,108 100%