Lowe's 2007 Annual Report Download - page 48

46 |LOWE’S 2007 ANNUAL REPORT
Lowe’s Companies, Inc.
FINANCIAL HISTORY (Unaudited)
10-YEAR FINANCIAL INFORMATION1
5-year February 1, February 2, February 3, January 28,
Fiscal Years Ended On CGR% 2008 2007 2006* 2005
Stores and people
1 Number of stores 13.1 1,534 1,385 1,234 1,087
2 Square footage (in millions) 13.0 174.1 157.1 140.1 123.7
3 Number of employees 12.3 215,978 210,142 185,314 161,964
4 Customer transactions (in millions) 9.4 720 680 639 575
5 Average purchase $ 67.05 $ 68.98 $ 67.67 $ 63.43
Comparative income statements (in millions)
6 Sales 13.1 $ 48,283 $ 46,927 $ 43,243 $ 36,464
7 Depreciation 17.2 1,366 1,162 980 859
8 Interest – net 1.3 194 154 158 176
9 Pre-tax earnings 13.8 4,511 4,998 4,496 3,520
10 Income tax provision NM 1,702 1,893 1,731 1,353
11 Earnings from continuing operations 13.8 2,809 3,105 2,765 2,167
12 Earnings from discontinued operations, net of tax NM – – – –
13 Net earnings 13.6 2,809 3,105 2,765 2,167
14 Cash dividends 45.3 428 276 171 116
15 Earnings retained 10.9 $ 2,381 $ 2,829 $ 2,594 $ 2,051
Dollars per share (weighted average shares, assuming dilution)
16 Sales 14.7 $ 31.98 $ 29.97 $ 26.91 $ 22.55
17 Earnings 15.0 1.86 1.99 1.73 1.35
18 Cash dividends 46.8 0.29 0.18 0.11 0.08
19 Earnings retained 12.1 1.57 1.81 1.62 1.27
20 Shareholders’ equity 16.0 $ 10.66 $ 10.04 $ 8.90 $ 7.11
Financial ratios
21 Asset turnover21.74 1.90 2.05 1.95
22 Return on sales35.82% 6.62% 6.39% 5.94%
23 Return on average assets49.58% 11.85% 12.09% 10.90%
24 Return on average shareholders’ equity517.65% 20.69% 21.44% 19.99%
Comparative balance sheets (in millions)
25 Total current assets 10.2 $ 8,686 $ 8,314 $ 7,788 $ 6,866
26 Cash and short-term investments (14.0) 530 796 876 813
27 Merchandise inventory – net 14.2 7,611 7,144 6,635 5,850
28 Other current assets 2.4 298 213 122 84
29 Fixed assets – net 15.8 21,361 18,971 16,354 13,911
30 Other assets 14.4 313 317 203 178
31 Total assets 14.3 30,869 27,767 24,639 21,101
32 Total current liabilities 18.2 7,751 6,539 5,832 5,648
33 Accounts payable 15.7 3,713 3,524 2,832 2,695
34 Other current liabilities 15.8 2,510 2,479 2,544 1,937
35 Long-term debt (excluding current maturities) 8.3 5,576 4,325 3,499 3,060
36 Total liabilities 14.3 14,771 12,042 10,343 9,603
37 Shareholders’ equity 14.4 $ 16,098 $ 15,725 $ 14,296 $ 11,498
38 Equity/long-term debt (excluding current maturities) 2.89 3.64 4.09 3.76
39 Year-end leverage factor: assets/equity 1.92 1.77 1.72 1.84
Shareholders, shares and book value
40 Shareholders of record, year-end 31,513 29,439 27,427 27,071
41 Shares outstanding, year-end (in millions) 1,458 1,525 1,568 1,548
42 Weighted average shares, assuming dilution (in millions) 1,510 1,566 1,607 1,617
43 Book value per share $ 11.04 $ 10.31 $ 9.12 $ 7.43
Stock price during calendar year6
44 High $ 35.74 $ 34.83 $ 34.85 $ 30.27
45 Low $ 21.01 $ 26.15 $ 25.36 $ 22.95
46 Closing price December 31 $ 22.62 $ 31.15 $ 33.33 $ 28.80
Price/earnings ratio
47 High 19 17 20 22
48 Low 11 13 15 17