The following are the consolidated statement of earnings and the balance sheet of Home Depot, Inc and Subsidiaries.
THE HOME DEPOT, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS |
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Fiscal Year Ended(1) | |||||||||||
amounts in millions, except per share data | January 31, 2016 |
February 1, 2015 |
February 2, 2014 |
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NET SALES | $ | 88,519 | $ | 83,176 | $ | 78,812 | |||||
Cost of Sales | 58,254 | 54,787 | 51,897 | ||||||||
GROSS PROFIT | 30,265 | 28,389 | 26,915 | ||||||||
Operating Expenses: | |||||||||||
Selling, General and Administrative | 16,801 | 16,280 | 16,122 | ||||||||
Depreciation and Amortization | 1,690 | 1,640 | 1,627 | ||||||||
Total Operating Expenses | 18,491 | 17,920 | 17,749 | ||||||||
OPERATING INCOME | 11,774 | 10,469 | 9,166 | ||||||||
Interest and Other (Income) Expense: | |||||||||||
Interest and Investment Income | (166 | ) | (337 | ) | (12 | ) | |||||
Interest Expense | 919 | 830 | 711 | ||||||||
Interest and Other, net | 753 | 493 | 699 | ||||||||
EARNINGS BEFORE PROVISION FOR INCOME TAXES | 11,021 | 9,976 | 8,467 | ||||||||
Provision for Income Taxes | 4,012 | 3,631 | 3,082 | ||||||||
NET EARNINGS | $ | 7,009 | $ | 6,345 | $ | 5,385 | |||||
Weighted Average Common Shares | 1,277 | 1,338 | 1,425 | ||||||||
BASIC EARNINGS PER SHARE | $ | 5.49 | $ | 4.74 | $ | 3.78 | |||||
Diluted Weighted Average Common Shares | 1,283 | 1,346 | 1,434 | ||||||||
DILUTED EARNINGS PER SHARE | $ | 5.46 | $ | 4.71 | $ | 3.76 | |||||
(1) Fiscal years ended January 31, 2016, February 1, 2015 and February 2, 2014 include 52 weeks.
THE HOME DEPOT, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS |
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amounts in millions, except share and per share data | January 31, 2016 |
February 1, 2015 |
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ASSETS | |||||||
Current Assets: | |||||||
Cash and Cash Equivalents | $ | 2,216 | $ | 1,723 | |||
Receivables, net | 1,890 | 1,484 | |||||
Merchandise Inventories | 11,809 | 11,079 | |||||
Other Current Assets | 1,078 | 1,016 | |||||
Total Current Assets | 16,993 | 15,302 | |||||
Property and Equipment, at cost | 39,266 | 38,513 | |||||
Less Accumulated Depreciation and Amortization | 17,075 | 15,793 | |||||
Net Property and Equipment | 22,191 | 22,720 | |||||
Goodwill | 2,102 | 1,353 | |||||
Other Assets | 1,263 | 571 | |||||
Total Assets | $ | 42,549 | $ | 39,946 | |||
LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||
Current Liabilities: | |||||||
Short-Term Debt | $ | 350 | $ | 290 | |||
Accounts Payable | 6,565 | 5,807 | |||||
Accrued Salaries and Related Expenses | 1,515 | 1,391 | |||||
Sales Taxes Payable | 476 | 434 | |||||
Deferred Revenue | 1,566 | 1,468 | |||||
Income Taxes Payable | 34 | 35 | |||||
Current Installments of Long-Term Debt | 77 | 38 | |||||
Other Accrued Expenses | 1,943 | 1,806 | |||||
Total Current Liabilities | 12,526 | 11,269 | |||||
Long-Term Debt, excluding current installments | 20,888 | 16,869 | |||||
Other Long-Term Liabilities | 1,965 | 1,844 | |||||
Deferred Income Taxes | 854 | 642 | |||||
Total Liabilities | 36,233 | 30,624 | |||||
STOCKHOLDERS’ EQUITY | |||||||
Common Stock, par value $0.05; authorized: 10 billion shares;
issued: 1.772 billion shares at January 31, 2016 and 1.768 billion shares at February 1, 2015; outstanding: 1.252 billion shares at January 31, 2016 and 1.307 billion shares at February 1, 2015 |
88 | 88 | |||||
Paid-In Capital | 9,347 | 8,885 | |||||
Retained Earnings | 30,973 | 26,995 | |||||
Accumulated Other Comprehensive Loss | (898 | ) | (452 | ) | |||
Treasury Stock, at cost, 520 million shares at January 31, 2016
and 461 million shares at February 1, 2015 |
(33,194 | ) | (26,194 | ) | |||
Total Stockholders’ Equity | 6,316 | 9,322 | |||||
Total Liabilities and Stockholders’ Equity | $ | 42,549 | $ | 39,946 | |||
Selected information as on February 2, 2014:
Working capital | $ | 4,530 | ||
Cash balance | $ | 1,929 | ||
Total assets | $ | 40,518 | ||
Stockholders' equity | $ | 12,522 | ||
a-1. Compute the percentage change relative to the previous year in net sales for the fiscal years ending February 1, 2015, and January 31, 2016.
a-2. Compute the percentage change in net earnings for the fiscal years ending February 1, 2015, and January 31, 2016.
a-3. Compute the gross profit rate for the fiscal years ending February 1, 2015, and January 31, 2016.
a-4. Compute the net income as a percentage of sales for the fiscal years ending February 1, 2015, and January 31, 2016.
a-5. Compute the return on average total assets for the fiscal years ending February 1, 2015, and January 31, 2016.
a-6. Compute the return on average total equity for the fiscal years ending February 1, 2015, and January 31, 2016.
Solution:
a-1. Percentage change in sales for yr ending Feb. 1, 2015 = ($83,176 - 78,812)/ 78,812 = 5.54%
Percentage change in sales for yr ending Jan 31, 2016 = ($88,519 - 83,176) / 83,176 = 6.42%
a-2. Percentage change in net earnings for yr ending Feb. 1, 2015 = ($6,345 - 5,385)/ 5,385
= 17.83%
Percentage change in net earnings for yr ending Jan 31, 2016 = ($7,009 -6,345) / 6,345
= 10.46%
a-3. Gross profit rate for the yr ending Feb. 1, 2015 = Gross profit / Net sales
= $28,389 / 83,176 = 34.13%
Gross profit rate for the yr ending Jan. 1, 2016 = $30,265 /88,519 = 34.19%
a-4. Net income as a percentage of sales for yr ending Feb. 1, 2015 = Net earnings / Net sales
= $6,345/ 83,176 = 7.63%
Net income as a percentage of sales for yr ending Jan. 31, 2016 = $7,009/ 88,519 = 7.92%
a-5. Return of average total assets for yr ending Feb. 1, 2015 = Net earnings / Average total assets
= $6,345 / [(39,946+40,518)/2]
= 15.77%
Return on average total assets for yr ending Jan. 1, 2016 = $7,009/ [(42,549+39,946)/2]
= 16.99%
a-6. Return on average total equity for yr. ending Feb. 1, 2015 = Net earnings / Average total equity
= $6,345 / [(9,322+12,522)/2]
= 58.09%
Return on average total equity for yr. ending Jan. 31, 2016 = $7,009 / [($6,316+9,322)/2]
= 89.64%
The following are the consolidated statement of earnings and the balance sheet of Home Depot, Inc...
The following are the consolidated statement of earnings and the balance sheet of Home Depot, Inc and Subsidiaries. THE HOME DEPOT, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS Fiscal Year Ended(1) amounts in millions, except per share data January 31, 2016 February 1, 2015 February 2, 2014 NET SALES $ 88,519 $ 83,176 $ 78,812 Cost of Sales 58,254 54,787 51,897 GROSS PROFIT 30,265 28,389 26,915 Operating Expenses: Selling, General and Administrative 16,801 16,280 16,122 Depreciation and Amortization 1,690 1,640...
The following are the consolidated statement of earnings and the balance sheet of Home Depot, Inc and Subsidiaries. THE HOME DEPOT, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS Fiscal Year Ended(1) amounts in millions, except per share data January 31, 2016 February 1, 2015 February 2, 2014 NET SALES $ 88,519 $ 83,176 $ 78,812 Cost of Sales 58,254 54,787 51,897 GROSS PROFIT 30,265 28,389 26,915 Operating Expenses: Selling, General and Administrative 16,801 16,280 16,122 Depreciation and Amortization 1,690 1,640...
Required information The following are the consolidated statement of earnings and the balance sheet of Home Depot, Inc and Subsidiaries. THE HOME DEPOT, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS Fiscal Year Ended(1) amounts in millions, except per share data January 31, 2016 February 1, 2015 February 2, 2014 NET SALES $ 88,519 $ 83,176 $ 78,812 Cost of Sales 58,254 54,787 51,897 GROSS PROFIT 30,265 28,389 26,915 Operating Expenses: Selling, General and Administrative 16,801 16,280 16,122 Depreciation and Amortization...
Required information The following are the consolidated statement of earnings and the balance sheet of Home Depot, Inc and Subsidiaries. THE HOME DEPOT, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS Fiscal Year Ended(1) amounts in millions, except per share data January 31,2016 February 1, 2015 February 2, 2014 NET SALES $ 66,181 $ 71,294 $ 77,359 Cost of Sales 43,756 47,283 51,349 GROSS PROFIT 22,425 24,011 26,010 Operating Expenses: Selling, General and Administrative 15,897 17,832 17,052 Depreciation and Amortization 1,702...
THE HOME DEPOT, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS Fiscal Year Ended(1) amounts in millions, except per share data January 31, 2016 February 1, 2015 February 2, 2014 NET SALES $ 88,519 $ 83,176 $ 78,812 Cost of Sales 58,254 54,787 51,897 GROSS PROFIT 30,265 28,389 26,915 Operating Expenses: Selling, General and Administrative 16,801 16,280 16,122 Depreciation and Amortization 1,690 1,640 1,627 Total Operating Expenses 18,491 17,920 17,749 OPERATING INCOME 11,774 10,469 9,166 Interest and Other (Income) Expense: Interest...
Required information The following are the consolidated statement of earnings and the balance sheet of Home Depot, Inc and Subsidiaries. THE HOME DEPOT, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS Fiscal Year Ended(1) amounts in millions, except per share data January 31,2016 February 1, 2015 February 2, 2014 NET SALES $ 66,181 $ 71,294 $ 77,359 Cost of Sales 43,756 47,283 51,349 GROSS PROFIT 22,425 24,011 26,010 Operating Expenses: Selling, General and Administrative 15,897 17,832 17,052 Depreciation and Amortization 1,702...
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