Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company 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.

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Home Depot Inc., consolidated balance sheet: assets

US$ in millions

		Feb 2, 2025		Jan 28, 2024		Jan 29, 2023		Jan 30, 2022		Jan 31, 2021		Feb 2, 2020
	Cash and cash equivalents
	Receivables, net
	Merchandise inventories
	Other current assets
	Current assets
	Net property and equipment
	Operating lease right-of-use assets
	Goodwill
	Intangible assets, net
	Other assets
	Long-term assets
	Total assets

Based on: 10-K (reporting date: 2025-02-02), 10-K (reporting date: 2024-01-28), 10-K (reporting date: 2023-01-29), 10-K (reporting date: 2022-01-30), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-02-02).

Cash and cash equivalents: The cash and cash equivalents showed a significant increase from 2,133 million USD in 2020 to 7,895 million USD in 2021, indicating a substantial build-up of liquid resources. However, from 2021 onward, there was a general decline, reaching 1,659 million USD by 2025, suggesting a reduction in readily available cash over this later period.
Receivables, net: Net receivables exhibited a steady upward trajectory throughout the time frame, rising from 2,106 million USD in 2020 to 4,903 million USD in 2025. This trend reflects an increasing amount of credit extended, potentially correlated with higher sales or changing credit policies.
Merchandise inventories: Merchandise inventories consistently increased from 14,531 million USD in 2020 to a peak of 24,886 million USD in 2023. A decline occurred in 2024 to 20,976 million USD, followed by a rebound to 23,451 million USD in 2025. This pattern may indicate inventory management adjustments or responses to market demand fluctuations.
Other current assets: Other current assets remained relatively stable with minor fluctuations, ranging from 1,040 million USD in 2020 to 1,670 million USD in 2025, with a gradual increase noticeable from 2021 to 2024.
Current assets: Total current assets grew substantially from 19,810 million USD in 2020 to a peak of 32,471 million USD in 2023, decreasing slightly in 2024 to 29,775 million USD, then rising again to 31,683 million USD in 2025, paralleling changes in its components.
Net property and equipment: Net property and equipment showed steady growth across the entire period, increasing from 22,770 million USD in 2020 to 26,702 million USD in 2025, indicating ongoing capital investments or asset acquisitions.
Operating lease right-of-use assets: Operating lease right-of-use assets demonstrated a consistent upward trend, growing from 5,595 million USD in 2020 to 8,592 million USD in 2025, reflecting either expanded leasing arrangements or changes in lease accounting standards.
Goodwill: Goodwill experienced a notable increase, from 2,254 million USD in 2020 to 19,475 million USD in 2025, with the most significant jump occurring between 2024 and 2025. This suggests significant acquisitions or business combinations during this later period.
Intangible assets, net: Net intangible assets were recorded starting in 2021 at 3,612 million USD, remaining relatively stable until 2024, after which they more than doubled to 8,983 million USD in 2025, indicating possible new acquisitions or revaluation of intangible assets.
Other assets: Other assets remained fairly stable, with minor declines from 807 million USD in 2020 to 635 million USD in 2023, followed by a slight increase to 684 million USD in 2025.
Long-term assets: Long-term assets increased steadily from 31,426 million USD in 2020 to a substantial 64,436 million USD in 2025, reflecting the combined effects of increases in property, lease assets, goodwill, and intangibles, signaling significant asset growth and expansion.
Total assets: Total assets rose consistently from 51,236 million USD in 2020 to 96,119 million USD in 2025, nearly doubling over the period. This growth is driven primarily by increases in long-term assets and, to a lesser extent, current assets, highlighting considerable expansion of the asset base.

Assets: Selected Items

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Current Assets: Selected Items