Home Depot’s Globalization
Consider note 1 to the 2009 financial statements of Home Depot, Inc., in Appendix A at the end of this textbook. Use this report to assess the globalization of Home Depot by answering the following questions:
a. What are the locations of Home Depot’s international stores? What other global operations does Home Depot undertake?
b. Refer to note 1 under “Segment Information.” What percentages of total assets and net sales revenue were associated with international operations in 2009? in 2008?
c. Read note 1 under “Foreign Currency Translation.” What exchange rate is used to translate foreign assets and liabilities for reporting purposes?
d. Read note 1 under “Derivatives.” Is there any evidence that management undertakes any formal hedging to attempt to reduce the impact of currency exchange risk?
e. Home Depot’s provision for taxes for 2009 and 2008 was $1,362 and $1,278 million, respectively. Of the total taxes each year, $166 and $62 million, respectively, were paid to foreign governments. What percentage of taxes was paid to foreign countries each year?
f. Do you believe Home Depot, Inc., is a multinational company? Why or why not?
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