Lowe's 2004 Annual Report Download - page 48

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Page 46 Lowe’s 2004 Annual Report
Financial History (Unaudited)
10-YEAR FINANCIAL INFORMATION
*
5-year January 28, January 30, January 31, February 1, February 2,
Fiscal Years Ended On CGR 2005 2004 2003 2002 2001
Stores and People3
1Number of Stores 14.6 1,087 952 828 718 624
2Square Footage (In Millions) 16.8 123.7 108.8 94.7 80.7 67.8
3Number of Employees 13.7 161,964 147,052 120,692 107,404 93,669
4Customer Transactions (In Millions) 14.0 575 521 460 394 342
5Average Purchase $ 63.43 $ 59.21 $ 56.80 $ 55.05 $ 53.78
Comparative Income Statements (In Millions)1,2,3
6 Sales 18.7 $ 36,464 $ 30,838 $ 26,112 $ 21,714 $ 18,368
7Depreciation 21.0 902 777 640 531 421
8Interest 15.7 176 180 182 174 121
9Pre-Tax Earnings 28.2 3,536 2,944 2,372 1,535 1,238
10 Income Tax Provision NM 1,360 1,115 893 566 454
11 Earnings from Continuing Operations 27.4 2,176 1,829 1,479 969 784
12 Earnings from Discontinued Operations, Net of Tax NM – 15 12 13 14
13 Net Earnings 26.8 2,176 1,844 1,491 982 798
14 Cash Dividends 19.3 116 87 66 60 53
15 Earnings Retained 27.3 $ 2,060 $ 1,757 $ 1,425 $ 922 $ 745
Dollars Per Share (Weighted Average Shares, Assuming Dilution)1,2,3
16 Sales 17.5 $ 45.13 $ 37.79 $ 32.24 $ 26.97 $ 23.89
17 Earnings 25.8 2.71 2.28 1.86 1.23 1.04
18 Cash Dividends 18.1 0.14 0.11 0.08 0.07 0.07
19 Earnings Retained 26.1 2.55 2.15 1.76 1.15 0.97
20 Shareholders’ Equity 18.7 $ 14.28 $ 12.52 $ 10.16 $ 8.18 $ 7.08
Financial Ratios1
21 Asset Turnover41.94 1.95 1.93 1.92 2.05
22 Return on Sales55.97% 5.98% 5.71% 4.52% 4.34%
23 Return on Assets611.60% 11.64% 11.01% 8.70% 8.91%
24 Return on Shareholders’ Equity721.30% 22.40% 22.65% 18.03% 17.13%
Comparative Balance Sheets (In Millions)1,8
25 Total Current Assets 13.6 $ 6,974 $ 6,522 $ 5,409 $ 4,818 $ 4,158
26 Cash and Short-Term Investments 7.4 813 1,624 1,126 853 469
27 Accounts Receivable—Net (42.9) 9 146 169 163 159
28 Merchandise Inventory 16.3 5,982 4,584 3,968 3,611 3,285
29 Other Current Assets (6.6) 75 106 96 81 164
30 Fixed Assets—Net 22.1 13,911 11,819 10,245 8,565 6,964
31 Other Assets 9.9 178 241 160 141 131
32 Total Assets 18.8 21,209 18,751 15,843 13,546 11,287
33 Total Current Liabilities 19.2 5,719 4,200 3,407 2,940 2,911
34 Accounts Payable 11.5 2,687 2,212 1,791 1,589 1,708
35 Other Current Liabilities 32.0 2,016 1,576 1,251 971 745
36 Long-Term Debt, Excluding Current Maturities 12.1 3,060 3,678 3,736 3,734 2,698
37 Total Liabilities 17.6 9,674 8,535 7,611 6,962 5,841
38 Shareholders’ Equity 19.9 $ 11,535 $ 10,216 $ 8,232 $ 6,584 $ 5,446 $
39 Long-Term Debt, Excluding Current Maturities 3.77 2.78 2.20 1.76 2.02
40 Year-End Leverage Factor: Assets/Equity 1.84 1.84 1.92 2.06 2.07
Shareholders, Shares and Book Value
41 Shareholders of Record, Year-End 27,071 26,553 25,405 19,277 16,895
42 Shares Outstanding, Year-End (In Millions)2774 787 782 776 766
43 Weighted Average Shares, Assuming Dilution (In Millions)2808 816 810 805 769
44 Book Value Per Share2$ 14.90 $ 12.98 $ 10.53 $ 8.49 $ 7.11
Stock Price During Fiscal Year (Adjusted for Stock Splits)9
45 High $ 60.54 $ 60.42 $ 49.99 $ 48.88 $ 33.63
46 Low $ 45.90 $ 33.37 $ 32.50 $ 24.79 $ 17.13
47 Closing Price December 31 $ 57.59 $ 55.39 $ 37.50 $ 46.41 $ 22.25
Price/Earnings Ratio
48 High 22 27 27 40 32
49 Low 17 15 17 20 16