Lowe's Cos. Inc. (LOW) | Income Statement
The income statement presents information on the financial results of a company's business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
Lowe's Cos. Inc., Consolidated Income Statement
USD $ in millions
| 12 months ended | Feb 1, 2013 | Feb 3, 2012 | Jan 28, 2011 | Jan 29, 2010 | Jan 30, 2009 | Feb 1, 2008 | |
|---|---|---|---|---|---|---|---|
| Net sales | 50,521 | 50,208 | 48,815 | 47,220 | 48,230 | 48,283 | |
| Cost of sales | (33,194) | (32,858) | (31,663) | (30,757) | (31,729) | (31,556) | |
| Gross margin | 17,327 | 17,350 | 17,152 | 16,463 | 16,501 | 16,727 | |
| Selling, general and administrative | (12,244) | (12,593) | (12,006) | (11,737) | (11,176) | (10,656) | |
| Depreciation | (1,523) | (1,480) | (1,586) | (1,614) | (1,539) | (1,366) | |
| Pre-Interest and pre-tax earnings | 3,560 | 3,277 | 3,560 | 3,112 | 3,786 | 4,705 | |
| Interest expense | (432) | (383) | (344) | (304) | (320) | (239) | |
| Interest income | 9 | 12 | 12 | 17 | 40 | 45 | |
| Interest, net | (423) | (371) | (332) | (287) | (280) | (194) | |
| Pre-tax earnings | 3,137 | 2,906 | 3,228 | 2,825 | 3,506 | 4,511 | |
| Income tax provision | (1,178) | (1,067) | (1,218) | (1,042) | (1,311) | (1,702) | |
| Net earnings | 1,959 | 1,839 | 2,010 | 1,783 | 2,195 | 2,809 |
| Item | Description | The company |
|---|---|---|
| Net sales | Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. | Lowe's Cos. Inc.'s net sales increased from 2011 to 2012 and from 2012 to 2013. |
| Pre-Interest and pre-tax earnings | The net result for the period of deducting operating expenses from operating revenues. | |
| Pre-tax earnings | Sum of operating profit and nonoperating income (expense) before income (loss) from equity method investments, income taxes, extraordinary items, cumulative effects of changes in accounting principles, and noncontrolling interest. | Lowe's Cos. Inc.'s pre-tax earnings declined from 2011 to 2012 but then increased from 2012 to 2013 not reaching 2011 level. |
| Net earnings | The portion of consolidated profit or loss for the period, net of income taxes, which is attributable to the parent. If the entity does not present consolidated financial statements, the amount of profit or loss for the period, net of income taxes. | Lowe's Cos. Inc.'s net earnings declined from 2011 to 2012 but then increased from 2012 to 2013 not reaching 2011 level. |
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