Lowe's 2013 Annual Report Download - page 69

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61
2. Financial Statement Schedule
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS AND RESERVES
(In Millions)
Balance at
beginning of
period
Charges to
costs
and expenses
Deductions
Balance at
end of period
January 31, 2014:
Reserve for loss on obsolete inventory
$
57
$
11
(1)
$
—
$
68
Reserve for inventory shrinkage
142
325
(309
)
(2)
158
Reserve for sales returns
59
—
(1
)
(3)
58
Deferred tax valuation allowance
142
22
(4)
—
164
Self-insurance liabilities
899
1,164
(1,159
)
(5)
904
Reserve for exit activities
75
11
(32
)
(6)
54
February 1, 2013:
Reserve for loss on obsolete inventory
$
47
$
10
(1)
$
—
$
57
Reserve for inventory shrinkage
141
316
(315
)
(2)
142
Reserve for sales returns
56
3
(3)
—
59
Deferred tax valuation allowance
101
41
(4)
—
142
Self-insurance liabilities
864
1,164
(1,129
)
(5)
899
Reserve for exit activities
86
11
(22
)
(6)
75
February 3, 2012:
Reserve for loss on obsolete inventory
$
39
$
8
(1)
$
—
$
47
Reserve for inventory shrinkage
127
308
(294
)
(2)
141
Reserve for sales returns
52
4
(3)
—
56
Deferred tax valuation allowance
99
2
(4)
—
101
Self-insurance liabilities
835
1,126
(1,097
)
(5)
864
Reserve for exit activities
12
98
(24
)
(6)
86
(1) Represents the net increase/(decrease) in the required reserve based on the Company’s evaluation of obsolete inventory.
(2) Represents the actual inventory shrinkage experienced at the time of physical inventories.
(3) Represents the net increase/(decrease) in the required reserve based on the Company’s evaluation of anticipated merchandise
returns.
(4) Represents an increase in the required reserve based on the Company’s evaluation of deferred tax assets.
(5) Represents claim payments for self-insured claims.
(6) Represents lease payments and adjustments, net of sublease income, and payments for one-time employee termination
benefits.