Lowe's 2014 Annual Report Download - page 76

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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 30, 2015:
Reserve for loss on obsolete inventory $ 68
$
—
$ (16 ) 1 $ 52
Reserve for inventory shrinkage 158
326
(322 ) 2 162
Reserve for sales returns 58
7
3
—
65
Deferred tax valuation allowance 164
6
4
—
170
Self-insurance liabilities 904
1,323
(1,322 ) 5 905
Reserve for exit activities 54
14
(15 ) 6 53
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
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, net of sublease income.
66
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