Lowe's 2001 Annual Report Download - page 20

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Lo we’s Co mpanies, Inc. 18
Financial Info rmatio n
Indepe ndent Audito rs’ Re po rt / 18
Manag e me nt’s Respo nsibility fo r Financial Repo rting / 19
Manag e me nt’s Discussio n and Analysis / 20
Co nsolidated Statements o f Earnings / 25
Co nsolidated Balance Sheets / 26
Co nsolidated Statements o f Share ho lders’ Equity / 27
Co nsolidated Statements o f Cash Flo ws / 28
No te s to Co nso lidated Financial Statements / 29
Quarterly Review o f Perfo rmanc e / 39
Sto ck Perfo rmance, Sto ck Splits and Sto ck Dividends / 40
Selected Financ ial Data / 41
10-Year Financ ial Histo ry / 42
Independent Audito rs’ Repo rt
TO THE BOARD OF DIRECTORS AND STOCKHOLDERS OF LOWE’S COMPANI ES, I NC.
We have audited the acco mpanying co nso lidated balance sheets o f Lo we’s Co mpanies, Inc. and subsidiaries ( the “Co mpany”) as o f February
1, 2002 and February 2, 2001, and the related co nso lidated statements o f earnings, shareho lders’ equity, and cash flo ws fo r each of the
three fiscal years in the perio d ended February 1, 2002, appearing o n pages 25 thro ugh 38. These financial statements are the respo nsi-
bility of the Co mpany’s management. Our respo nsibility is to express an o pinio n o n these financial statements based o n o ur audits.
We co nducted o ur audits in acco rdance with auditing standards generally accepted in the United States o f America. Tho se standards require
that we plan and perfo rm the audit to o btain reaso nable assurance abo ut whether the financial statements are free o f material
misstatement. An audit includes examining , o n a test basis, evidence suppo rting the amo unts and disc losures in the financial statements. An
audit also includes assessing the acco unting principles used and significant estimates made by management, as well as evaluating the o verall
financial statement presentatio n. We believe that o ur audits pro vide a reaso nable basis fo r o ur o pinio n.
In o ur o pinio n, based o n o ur audits, the co nso lidated financial statements referred to abo ve present fairly, in all material respects,
the financial po sitio n of Lo we’s Co mpanies, Inc. and subsidiaries at February 1, 2002 and February 2, 2001, and the results o f their
o peratio ns and their cash flo ws fo r each of the three fisc al years in the perio d ended February 1, 2002 in co nfo rmity with acco unting
principles generally accepted in the United States o f America.
Charlo tte, No rth Caro lina
February 19, 2002