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Lowe's Cos. Inc. (LOW) | Statement of Financial Position, Assets

The statement of financial position provides creditors, investors, and analysts with information on company's resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company's assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Lowe's Cos. Inc., Consolidated Statement of Financial Position, Assets

USD $ in millions

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    Feb 1, 2013 Feb 3, 2012 Jan 28, 2011 Jan 29, 2010 Jan 30, 2009 Feb 1, 2008
Cash and cash equivalents 541  1,014  652  632  245  281 
Short-term investments 125  286  471  425  416  249 
Merchandise inventory, net 8,600  8,355  8,321  8,249  8,209  7,611 
Accounts receivable – – – – – –
Deferred income taxes, net 217  183  193  208  166  247 
Other current assets 301  234  330  218  215  298 
Current assets
9,784 
10,072 
9,967 
9,732 
9,251 
8,686 
Property, less accumulated depreciation 21,477  21,970  22,089  22,499  22,722  21,361 
Long-term investments 271  504  1,008  277  253  509 
Other assets 1,134  1,013  635  497  460  313 
Noncurrent assets
22,882 
23,487 
23,732 
23,273 
23,435 
22,183 
Total assets
32,666 
33,559 
33,699 
33,005 
32,686 
30,869 
Source: Lowe's Cos. Inc., Annual Reports
Item Description The company
Cash and cash equivalents Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits should not be reported as cash and cash equivalents. Lowe's Cos. Inc.'s cash and cash equivalents increased from 2011 to 2012 but then declined significantly from 2012 to 2013.
Short-term investments Investments which are intended to be sold in the short term (usually less than one year or the normal operating cycle, whichever is longer) including trading securities, available-for-sale securities, held-to-maturity securities, and other short-term investments not otherwise listed. Lowe's Cos. Inc.'s short-term investments declined from 2011 to 2012 and from 2012 to 2013.
Merchandise inventory, net Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer). Lowe's Cos. Inc.'s merchandise inventory, net increased from 2011 to 2012 and from 2012 to 2013.
Accounts receivable Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.
Current assets Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Lowe's Cos. Inc.'s current assets increased from 2011 to 2012 but then declined significantly from 2012 to 2013.
Property, less accumulated depreciation Tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. Examples include land, buildings, and production equipment. Lowe's Cos. Inc.'s property, less accumulated depreciation declined from 2011 to 2012 and from 2012 to 2013.
Noncurrent assets Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer. Lowe's Cos. Inc.'s noncurrent assets declined from 2011 to 2012 and from 2012 to 2013.
Total assets Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Lowe's Cos. Inc.'s total assets declined from 2011 to 2012 and from 2012 to 2013.

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