HOME DEPOT Financial Analysis DUE FRIDAY, MAY 18 @9PM
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ACT5140DESAISpring22015HW11.xlsIS
| HOME DEPOT INC | ||||
| $ in millions | ||||
| Year Ending | 2/1/15 | 2/2/14 | 2/3/13 | 1/29/12 |
| NET SALES | $83,176 | $78,812 | $74,754 | $70,395 |
| Cost of sales | 54,222 | 51,422 | 48,912 | 46,133 |
| GROSS PROFIT | 28,954 | 27,390 | 25,842 | 24,262 |
| Operating Expenses: | ||||
| Selling, General and Administrative | 16,834 | 16,597 | 16,508 | 16,028 |
| Depreciation and Amortization | 1,651 | 1,627 | 1,568 | 1,573 |
| Total Operating Expenses | 18,485 | 18,224 | 18,076 | 17,601 |
| OPERATING INCOME | 10,469 | 9,166 | 7,766 | 6,661 |
| Interest and Other (Income) Expense: | ||||
| Interest and Investment Income | (337) | (12) | (20) | (13) |
| Interest Expense | 830 | 711 | 632 | 606 |
| Other | 0 | 0 | (67) | 0 |
| Interest and Other, net | 493 | 699 | 545 | 593 |
| Earnings before income taxes | 9,976 | 8,467 | 7,221 | 6,068 |
| Provision for Income Taxes | 3,631 | 3,082 | 2,686 | 2,185 |
| NET EARNINGS | $6,345 | $5,385 | $4,535 | $3,883 |
| Basic earnings per share | $4.74 | $3.78 | $3.03 | $2.49 |
| Diluted earnings per share | $4.71 | $3.76 | $3.00 | $2.47 |
| Dividends per share | $1.88 | $1.56 | $1.16 | $1.04 |
BS
| HOME DEPOT INC | ||||
| $ in millions | ||||
| As of | 2/1/15 | 2/2/14 | 2/3/13 | 1/29/12 |
| ASSETS | ||||
| Current assets: | ||||
| Cash and cash equivalents | $1,723 | $1,929 | $2,494 | $1,987 |
| Accounts receivable, net | 1,484 | 1,398 | 1,395 | 1,245 |
| Merechandise inventories | 11,079 | 11,057 | 10,710 | 10,325 |
| Other current assets | 1,016 | 895 | 773 | 963 |
| Total Current Assets | 15,302 | 15,279 | 15,372 | 14,520 |
| Property & Equipment, at cost | 38,513 | 39,064 | 38,491 | 38,975 |
| Less Accumulated Depreciation and Amortization | 15,793 | 15,716 | 14,422 | 14,527 |
| Net Property & Equipment | 22,720 | 23,348 | 24,069 | 24,448 |
| Goodwill | 1,353 | 1,289 | 1,170 | 1,120 |
| Other assets | 571 | 602 | 473 | 430 |
| TOTAL ASSETS | $39,946 | $40,518 | $41,084 | $40,518 |
| LIABILITIES AND SHAREHOLDERS EQUITY | ||||
| Current liabilities: | ||||
| Short-term debt | $290 | $0 | $0 | $0 |
| Accounts payable | 5,807 | 5,797 | 5,376 | 4,856 |
| Accrued salaries & related expenses | 1,391 | 1,428 | 1,414 | 1,372 |
| Sales taxes payable | 434 | 396 | 472 | 391 |
| Deferred revenue | 1,468 | 1,337 | 1,270 | 1,147 |
| Income taxes payable | 35 | 12 | 22 | 23 |
| Current installments of long-term debt | 38 | 33 | 1,321 | 30 |
| Other accrued expenses | 1,806 | 1,746 | 1,587 | 1,557 |
| Total current liabilities | 11,269 | 10,749 | 11,462 | 9,376 |
| Long-term debt, excluding current installments | 16,869 | 14,691 | 9,475 | 10,758 |
| Other long-term liabilities | 1,844 | 2,042 | 2,051 | 2,146 |
| Deferred income taxes | 642 | 514 | 319 | 340 |
| Total liabilities | 30,624 | 27,996 | 23,307 | 22,620 |
| Shareholders equity: | ||||
| Common stock | 88 | 88 | 88 | 87 |
| Paid-in capital | 8,885 | 8,402 | 7,948 | 6,966 |
| Retained earnings | 26,995 | 23,180 | 20,038 | 17,246 |
| Accumulated other comprehensive income (loss) | (452) | 46 | 397 | 293 |
| Treasury stock, at cost | (26,194) | (19,194) | (10,694) | (6,694) |
| Total shareholders equity | 9,322 | 12,522 | 17,777 | 17,898 |
| TOTAL LIABILITIES AND SHAREHOLDERS EQUITY | $39,946 | $40,518 | $41,084 | $40,518 |
SCF
| HOME DEPOT INC | ||||
| $ in millions | ||||
| Year Ending | 2/1/15 | 2/2/14 | 2/3/13 | 1/29/12 |
| OPERATING ACTIVITIES: | ||||
| Net earnings | $6,345 | $5,385 | $4,535 | $3,883 |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | ||||
| Depreciation and amortization | 1,786 | 1,757 | 1,684 | 1,682 |
| Stock-based compensation expense | 225 | 228 | 218 | 215 |
| Goodwill impairment | (323) | 0 | 97 | 0 |
| Changes in Assets and Liabilities, net of the effects of acquisition and disposition | ||||
| Receivables, net | (81) | (15) | (143) | (170) |
| Merchandise inventories | (124) | (455) | (350) | 256 |
| Other current assets | (199) | (5) | 93 | 159 |
| Accounts payable and accrued expenses | 244 | 605 | 698 | 422 |
| Deferred revenue | 146 | 75 | 121 | (29) |
| Income taxes payable | 168 | 119 | 87 | 14 |
| Deferred income taxes | 159 | (31) | 107 | 170 |
| Other long-term liabilities | (152) | 13 | (180) | (2) |
| Other | 48 | (48) | 8 | 51 |
| Net cash provided by operating activities | $8,242 | $7,628 | $6,975 | $6,651 |
| INVESTING ACTIVITIES: | ||||
| Capital expenditures | (1,442) | (1,389) | (1,312) | (1,221) |
| Proceeds from sales of investments | 323 | 0 | 0 | 0 |
| Proceeds from sale of business | 0 | 0 | 0 | 101 |
| Payments for business acquired | (200) | (206) | (170) | (65) |
| Proceeds from sales of property & equipment | 48 | 88 | 50 | 56 |
| Net cash used by investing activities | ($1,271) | ($1,507) | ($1,432) | ($1,129) |
| FINANCING ACTIVITIES: | ||||
| Proceeds from short-term borrowings, net | 290 | 0 | 0 | 0 |
| Proceeds from long-term borrowings, net of discount | 1,981 | 5,222 | 0 | 1,994 |
| Repayments of long-term debt | (39) | (1,289) | (32) | (1,028) |
| Repurchases of common stock | (7,000) | (8,546) | (3,984) | (3,470) |
| Proceeds from sales of common stock | 252 | 241 | 784 | 306 |
| Cash dividends paid to stockholders | (2,530) | (2,243) | (1,743) | (1,632) |
| Other financing activities | (25) | (37) | (59) | (218) |
| Net cash used by financing activities | ($7,071) | ($6,652) | ($5,034) | ($4,048) |
| Change in Cash and Cash Equivalents | ($100) | ($531) | $509 | $1,474 |
| Effect of exchange rate changes on cash and cash equivalents | (106) | (34) | (2) | (32) |
| Cash and cash equivalents at beginning of year | 1,929 | 2,494 | 1,987 | 545 |
| Cash and cash equivalents at end of year | $1,723 | $1,929 | $2,494 | $1,987 |
| SUPPLEMENTAL DISCLOSURE OF CASH PAYMENTS MADE FOR | ||||
| Interest, net of capitalized interest | $782 | $639 | $617 | $580 |
| Income taxes | $3,435 | $2,839 | $2,482 | $1,865 |
