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30 |LOWE’S 2007 ANNUAL REPORT
Lowe’s Companies, Inc.
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY
Accumulated
Capital in Other Total
Common Stock Excess of Retained Comprehensive Shareholders’
(In millions) Shares Amount Par Value Earnings Income Equity
Balance January 28, 2005 1,548 $774 $ 1,127 $ 9,597 $ – $11,498
Comprehensive income (Note 1):
Net earnings 2,765
Foreign currency translation 1
Total comprehensive income 2,766
Tax effect of non-qualified stock options exercised 59 59
Cash dividends (171) (171)
Share-based payment expense (Note 8) 76 76
Repurchase of common stock (Note 7) (25) (12) (762) (774)
Conversion of debt to common stock (Note 5) 28 14 551 565
Employee stock options exercised
and other (Note 8) 15 7 205 212
Employee stock purchase plan (Note 8) 2 1 64 65
Balance February 3, 2006 1,568 $784 $ 1,320 $ 12,191 $ 1 $14,296
Comprehensive income (Note 1):
Net earnings 3,105
Foreign currency translation (2)
Net unrealized investment gains (Note 2) 2
Total comprehensive income 3,105
Tax effect of non-qualified stock options exercised 21 21
Cash dividends (276) (276)
Share-based payment expense (Note 8) 59 59
Repurchase of common stock (Note 7) (57) (28) (1,549) (160) (1,737)
Conversion of debt to common stock (Note 5) 4 2 80 82
Employee stock options exercised
and other (Note 8) 7 3 96 99
Employee stock purchase plan (Note 8) 3 1 75 76
Balance February 2, 2007 1,525 $762 $ 102 $14,860 $ 1 $15,725
Cumulative effect adjustment (Note 10): (8) (8)
Comprehensive income (Note 1):
Net earnings 2,809
Foreign currency translation 7
Total comprehensive income 2,816
Tax effect of non-qualified stock options exercised 12 12
Cash dividends (428) (428)
Share-based payment expense (Note 8) 99 99
Repurchase of common stock (Note 7) (76) (38) (349) (1,888) (2,275)
Conversion of debt to common stock (Note 5) 1 – 13 13
Employee stock options exercised
and other (Note 8) 5 3 61 64
Employee stock purchase plan (Note 8) 3 2 78 80
Balance February 1, 2008 1,458 $729 $ 16 $ 15,345 $ 8 $16,098
See accompanying notes to the consolidated financial statements.