Lowe's 2014 Annual Report Download - page 71

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NOTE 15: Related Parties
A brother-in-law of the Company’s former Chief Customer Officer is a senior officer and shareholder of a vendor that provides
millwork and other building products to the Company. The Company purchased products from this vendor in the amount of
$80 million in 2014, $70 million in 2013, and $78 million in 2012. Amounts payable to this vendor were $11 million at
January 30, 2015, and were not significant at January 31, 2014.
A member appointed to the Company's Board of Directors during fiscal year 2013 also serves on the Board of Directors of a
vendor that provides branded consumer packaged goods to the Company. The Company purchased products from this vendor
in the amount of $151 million in 2014 and $145 million in 2013. Amounts payable to this vendor were not significant at
January 30, 2015, and were $11 million at January 31, 2014.
A member of the Company's Board of Directors also serves on the Board of Directors of a vendor that provides certain services
to the Company related to health and welfare benefit plans. The Company made payments to this vendor in the amount of $56
million in 2014, $15 million in 2013, and $2 million in 2012. Amounts payable to this vendor were insignificant at January 30,
2015, and January 31, 2014.
NOTE 16: Other Information
Net interest expense is comprised of the following:
(In millions) 2014 2013 2012
Long-term debt $ 470 $ 431 $ 418
Capitalized lease obligations 42 40 37
Interest income (6) (4) (9)
Interest capitalized (2) (4) (4)
Interest on tax uncertainties (1) 6 (27)
Other 13 7
8
Interest - net $ 516 $ 476 $ 423
Supplemental disclosures of cash flow information:
(In millions) 2014 2013 2012
Cash paid for interest, net of amount capitalized $ 504 $ 454 $ 444
Cash paid for income taxes, net $ 1,534 $ 1,505 $ 1,404
Non-cash investing and financing activities:
Non-cash property acquisitions, including assets acquired under capital lease $ 44 $ 15 $ 101
Cash dividends declared but not paid $ 222 $ 186 $ 178
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