Lowe's 2012 Annual Report Download - page 45

Download and view the complete annual report

Please find page 45 of the 2012 Lowe's annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 88

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88

31
Lowe’s Companies, Inc.
Consolidated Statements of Earnings
(In millions, except per share and
percentage data)
Fiscal years ended on
February 1,
2013
%
Sales
February 3,
2012
%
Sales
January 28,
2011
%
Sales
Net sales ............................................. $ 50,521 100.00% $ 50,208 100.00% $ 48,815 100.00%
Cost of sales ........................................ 33,194 65.70 32,858 65.44 31,663 64.86
Gross margin ..................................... 17,327 34.30 17,350 34.56 17,152 35.14
Expenses:
Selling, general and administrative ..... 12,244 24.24 12,593 25.08 12,006 24.60
Depreciation ........................................ 1,523 3.01 1,480 2.95 1,586 3.25
Interest - net ........................................ 423 0.84 371 0.74 332 0.68
Total expenses ................................... 14,190 28.09 14,444 28.77 13,924 28.53
Pre-tax earnings ................................ 3,137 6.21 2,906 5.79 3,228 6.61
Income tax provision .......................... 1,178 2.33 1,067 2.13 1,218 2.49
Net earnings ....................................... $ 1,959 3.88% $ 1,839 3.66% $ 2,010 4.12%
Basic earnings per common share ... $ 1.69 $ 1.43 $ 1.42
Diluted earnings per common
share ............................................... $ 1.69 $ 1.43 $ 1.42
Cash dividends per share ................. $ 0.62 $ 0.53 $ 0.42
Lowe’s Companies, Inc.
Consolidated Statements of Comprehensive Income
(In millions, except percentage data)
Fiscal years ended on
February 1,
2013
%
Sales
February 3,
2012
%
Sales
January 28,
2011
%
Sales
Net earnings ......................................
.
$ 1,959 3.88% $ 1,839 3.66% $ 2,010 4.12%
Foreign currency translation
adjustments - net of tax ...............
.
6 0.01 (8) (0.02) 28 0.06
Net unrealized investment
gains/(losses) - net of tax ............
.
- - 1 - (2) -
Other comprehensive
income/(loss) ..................................
.
6 0.01 (7) (0.02) 26 0.06
Comprehensive income....................
.
$ 1,965 3.89% $ 1,832 3.64% $ 2,036 4.18%
See accompanying notes to consolidated financial statements.