Stock Analysis on Net
Stock Analysis on Net
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Home Depot Inc. (NYSE:HD)

Income Statement
Quarterly Data

Beginner level

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.

Home Depot Inc., consolidated income statement (quarterly data)

US$ in millions

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3 months ended: Aug 2, 2020 May 3, 2020 Feb 2, 2020 Nov 3, 2019 Aug 4, 2019 May 5, 2019 Feb 3, 2019 Oct 28, 2018 Jul 29, 2018 Apr 29, 2018 Jan 28, 2018 Oct 29, 2017 Jul 30, 2017 Apr 30, 2017 Jan 29, 2017 Oct 30, 2016 Jul 31, 2016 May 1, 2016 Jan 31, 2016 Nov 1, 2015 Aug 2, 2015 May 3, 2015 Feb 1, 2015 Nov 2, 2014 Aug 3, 2014 May 4, 2014
Net sales 38,053  28,260  25,782  27,223  30,839  26,381  26,491  26,302  30,463  24,947  23,883  25,026  28,108  23,887  22,207  23,154  26,472  22,762  20,980  21,819  24,829  20,891  19,162  20,516  23,811  19,687 
Cost of sales (25,112) (18,635) (17,046) (17,836) (20,407) (17,364) (17,464) (17,151) (20,098) (16,330) (15,790) (16,378) (18,647) (15,733) (14,654) (15,112) (17,545) (14,971) (13,824) (14,254) (16,464) (13,712) (12,439) (13,331) (15,650) (12,802)
Gross profit 12,941  9,625  8,736  9,387  10,432  9,017  9,027  9,151  10,365  8,617  8,093  8,648  9,461  8,154  7,553  8,042  8,927  7,791  7,156  7,565  8,365  7,179  6,723  7,185  8,161  6,885 
Selling, general and administrative (6,355) (5,829) (4,814) (4,942) (5,044) (4,940) (4,922) (4,808) (5,004) (4,779) (4,440) (4,514) (4,549) (4,361) (4,183) (4,280) (4,388) (4,281) (4,178) (4,161) (4,299) (4,163) (4,125) (4,217) (4,298) (4,194)
Depreciation and amortization (519) (520) (519) (498) (492) (480) (480) (473) (460) (457) (464) (454) (449) (444) (443) (442) (436) (433) (429) (423) (419) (419) (407) (415) (415) (414)
Impairment loss —  —  —  —  —  —  (247) —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Operating expenses (6,874) (6,349) (5,333) (5,440) (5,536) (5,420) (5,649) (5,281) (5,464) (5,236) (4,904) (4,968) (4,998) (4,805) (4,626) (4,722) (4,824) (4,714) (4,607) (4,584) (4,718) (4,582) (4,532) (4,632) (4,713) (4,608)
Operating income 6,067  3,276  3,403  3,947  4,896  3,597  3,378  3,870  4,901  3,381  3,189  3,680  4,463  3,349  2,927  3,320  4,103  3,077  2,549  2,981  3,647  2,597  2,191  2,553  3,448  2,277 
Interest and investment income 9  17  17  22  19  15  20  25  26  22  23  22  16  13  11  10  8  7  6  7  149  4  115  105  17  100 
Interest expense (346) (324) (309) (302) (302) (288) (269) (249) (272) (261) (269) (269) (265) (254) (246) (246) (236) (244) (242) (247) (233) (197) (213) (218) (208) (191)
Other —  —  —  —  —  —  (16) —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Interest and other income (expense), net (337) (307) (292) (280) (283) (273) (265) (224) (246) (239) (246) (247) (249) (241) (235) (236) (228) (237) (236) (240) (84) (193) (98) (113) (191) (91)
Earnings before provision for income taxes 5,730  2,969  3,111  3,667  4,613  3,324  3,113  3,646  4,655  3,142  2,943  3,433  4,214  3,108  2,692  3,084  3,875  2,840  2,313  2,741  3,563  2,404  2,093  2,440  3,257  2,186 
Provision for income taxes (1,398) (724) (630) (898) (1,134) (811) (769) (779) (1,149) (738) (1,164) (1,268) (1,542) (1,094) (948) (1,115) (1,434) (1,037) (842) (1,016) (1,329) (825) (714) (903) (1,207) (807)
Net earnings 4,332  2,245  2,481  2,769  3,479  2,513  2,344  2,867  3,506  2,404  1,779  2,165  2,672  2,014  1,744  1,969  2,441  1,803  1,471  1,725  2,234  1,579  1,379  1,537  2,050  1,379 

Based on: 10-Q (filing date: 2020-08-25), 10-Q (filing date: 2020-05-27), 10-K (filing date: 2020-03-25), 10-Q (filing date: 2019-11-26), 10-Q (filing date: 2019-08-27), 10-Q (filing date: 2019-05-29), 10-K (filing date: 2019-03-28), 10-Q (filing date: 2018-11-20), 10-Q (filing date: 2018-08-21), 10-Q (filing date: 2018-05-22), 10-K (filing date: 2018-03-22), 10-Q (filing date: 2017-11-21), 10-Q (filing date: 2017-08-22), 10-Q (filing date: 2017-05-23), 10-K (filing date: 2017-03-23), 10-Q (filing date: 2016-11-22), 10-Q (filing date: 2016-08-23), 10-Q (filing date: 2016-05-24), 10-K (filing date: 2016-03-24), 10-Q (filing date: 2015-11-24), 10-Q (filing date: 2015-08-25), 10-Q (filing date: 2015-05-27), 10-K (filing date: 2015-03-26), 10-Q (filing date: 2014-11-25), 10-Q (filing date: 2014-08-27), 10-Q (filing date: 2014-05-28).

Income statement item Description The company
Net sales Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Home Depot Inc.’s net sales increased from Q4 2020 to Q1 2021 and from Q1 2021 to Q2 2021.
Operating income The net result for the period of deducting operating expenses from operating revenues. Home Depot Inc.’s operating income decreased from Q4 2020 to Q1 2021 but then increased from Q1 2021 to Q2 2021 exceeding Q4 2020 level.
Earnings before provision for income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Home Depot Inc.’s earnings before provision for income taxes decreased from Q4 2020 to Q1 2021 but then increased from Q1 2021 to Q2 2021 exceeding Q4 2020 level.
Net earnings The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Home Depot Inc.’s net earnings decreased from Q4 2020 to Q1 2021 but then increased from Q1 2021 to Q2 2021 exceeding Q4 2020 level.