- Income Tax Expense (Benefit)
- Effective Income Tax Rate (EITR)
- Components of Deferred Tax Assets and Liabilities
- Deferred Tax Assets and Liabilities, Classification
- Adjustments to Financial Statements: Removal of Deferred Taxes
- Adjusted Financial Ratios: Removal of Deferred Taxes (Summary)
- Adjusted Net Profit Margin
- Adjusted Total Asset Turnover
- Adjusted Financial Leverage
- Adjusted Return on Equity (ROE)
- Adjusted Return on Assets (ROA)
Income Tax Expense (Benefit)
Based on: 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01), 10-K (reporting date: 2018-02-02), 10-K (reporting date: 2017-02-03).
Item | Description | The company |
---|---|---|
Current | Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations. | Lowe’s Cos. Inc. current increased from 2020 to 2021 and from 2021 to 2022. |
Deferred | Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. | Lowe’s Cos. Inc. deferred decreased from 2020 to 2021 but then increased from 2021 to 2022 exceeding 2020 level. |
Income tax provision | Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. | Lowe’s Cos. Inc. income tax provision increased from 2020 to 2021 and from 2021 to 2022. |
Effective Income Tax Rate (EITR)
Based on: 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01), 10-K (reporting date: 2018-02-02), 10-K (reporting date: 2017-02-03).
Item | Description | The company |
---|---|---|
Effective tax rate | Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. | Lowe’s Cos. Inc. effective tax rate increased from 2020 to 2021 and from 2021 to 2022. |
Components of Deferred Tax Assets and Liabilities
Based on: 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01), 10-K (reporting date: 2018-02-02), 10-K (reporting date: 2017-02-03).
Item | Description | The company |
---|---|---|
Deferred tax assets | Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. | Lowe’s Cos. Inc. deferred tax assets increased from 2020 to 2021 but then slightly decreased from 2021 to 2022. |
Net deferred tax assets | Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. | Lowe’s Cos. Inc. net deferred tax assets increased from 2020 to 2021 but then slightly decreased from 2021 to 2022. |
Net deferred tax assets (liabilities) | Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, without jurisdictional netting. | Lowe’s Cos. Inc. net deferred tax assets (liabilities) increased from 2020 to 2021 but then decreased significantly from 2021 to 2022. |
Deferred Tax Assets and Liabilities, Classification
Jan 28, 2022 | Jan 29, 2021 | Jan 31, 2020 | Feb 1, 2019 | Feb 2, 2018 | Feb 3, 2017 | ||
---|---|---|---|---|---|---|---|
Deferred tax assets | 164 | 340 | 216 | 294 | 168 | 222 | |
Deferred tax liabilities | — | — | — | — | 28 | 22 |
Based on: 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01), 10-K (reporting date: 2018-02-02), 10-K (reporting date: 2017-02-03).
Item | Description | The company |
---|---|---|
Deferred tax assets | Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, with jurisdictional netting and classified as noncurrent. | Lowe’s Cos. Inc. deferred tax assets increased from 2020 to 2021 but then decreased significantly from 2021 to 2022. |
Deferred tax liabilities | Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences, with jurisdictional netting and classified as noncurrent. |
Adjustments to Financial Statements: Removal of Deferred Taxes
Based on: 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01), 10-K (reporting date: 2018-02-02), 10-K (reporting date: 2017-02-03).
Lowe’s Cos. Inc., Financial Data: Reported vs. Adjusted
Adjusted Financial Ratios: Removal of Deferred Taxes (Summary)
Based on: 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01), 10-K (reporting date: 2018-02-02), 10-K (reporting date: 2017-02-03).
Financial ratio | Description | The company |
---|---|---|
Adjusted net profit margin | An indicator of profitability, calculated as adjusted net income divided by total revenue. | Lowe’s Cos. Inc. adjusted net profit margin ratio improved from 2020 to 2021 and from 2021 to 2022. |
Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Lowe’s Cos. Inc. adjusted total asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022. |
Adjusted ROA | A profitability ratio calculated as adjusted net income divided by adjusted total assets. | Lowe’s Cos. Inc. adjusted ROA improved from 2020 to 2021 and from 2021 to 2022. |
Lowe’s Cos. Inc., Financial Ratios: Reported vs. Adjusted
Adjusted Net Profit Margin
Based on: 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01), 10-K (reporting date: 2018-02-02), 10-K (reporting date: 2017-02-03).
2022 Calculations
1 Net profit margin = 100 × Net earnings ÷ Net sales
= 100 × 8,442 ÷ 96,250 = 8.77%
2 Adjusted net profit margin = 100 × Adjusted net earnings ÷ Net sales
= 100 × 8,582 ÷ 96,250 = 8.92%
Profitability ratio | Description | The company |
---|---|---|
Adjusted net profit margin | An indicator of profitability, calculated as adjusted net income divided by total revenue. | Lowe’s Cos. Inc. adjusted net profit margin ratio improved from 2020 to 2021 and from 2021 to 2022. |
Adjusted Total Asset Turnover
Based on: 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01), 10-K (reporting date: 2018-02-02), 10-K (reporting date: 2017-02-03).
2022 Calculations
1 Total asset turnover = Net sales ÷ Total assets
= 96,250 ÷ 44,640 = 2.16
2 Adjusted total asset turnover = Net sales ÷ Adjusted total assets
= 96,250 ÷ 44,476 = 2.16
Activity ratio | Description | The company |
---|---|---|
Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Lowe’s Cos. Inc. adjusted total asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022. |
Adjusted Financial Leverage
Based on: 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01), 10-K (reporting date: 2018-02-02), 10-K (reporting date: 2017-02-03).
2022 Calculations
1 Financial leverage = Total assets ÷ Shareholders’ equity (deficit)
= 44,640 ÷ -4,816 = —
2 Adjusted financial leverage = Adjusted total assets ÷ Adjusted shareholders’ equity (deficit)
= 44,476 ÷ -4,980 = —
Adjusted Return on Equity (ROE)
Based on: 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01), 10-K (reporting date: 2018-02-02), 10-K (reporting date: 2017-02-03).
2022 Calculations
1 ROE = 100 × Net earnings ÷ Shareholders’ equity (deficit)
= 100 × 8,442 ÷ -4,816 = —
2 Adjusted ROE = 100 × Adjusted net earnings ÷ Adjusted shareholders’ equity (deficit)
= 100 × 8,582 ÷ -4,980 = —
Adjusted Return on Assets (ROA)
Based on: 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01), 10-K (reporting date: 2018-02-02), 10-K (reporting date: 2017-02-03).
2022 Calculations
1 ROA = 100 × Net earnings ÷ Total assets
= 100 × 8,442 ÷ 44,640 = 18.91%
2 Adjusted ROA = 100 × Adjusted net earnings ÷ Adjusted total assets
= 100 × 8,582 ÷ 44,476 = 19.30%
Profitability ratio | Description | The company |
---|---|---|
Adjusted ROA | A profitability ratio calculated as adjusted net income divided by adjusted total assets. | Lowe’s Cos. Inc. adjusted ROA improved from 2020 to 2021 and from 2021 to 2022. |