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Microsoft Excel LibreOffice Calc

Lowe’s Cos. Inc. (LOW)


Analysis of Revenues

Difficulty: Advanced


Revenue Recognition Accounting Policy

Lowe’s recognizes revenues, net of sales tax, when sales transactions occur and customers take possession of the merchandise. A provision for anticipated merchandise returns is provided through a reduction of sales and cost of sales in the period that the related sales are recorded. Revenues from product installation services are recognized when the installation is completed. Deferred revenues associated with amounts received for which customers have not yet taken possession of merchandise or for which installation has not yet been completed were $831 million and $755 million at February 2, 2018, and February 3, 2017, respectively.

Revenues from stored-value cards, which include gift cards and returned merchandise credits, are deferred and recognized when the cards are redeemed. The liability associated with outstanding stored-value cards was $547 million and $498 million at February 2, 2018, and February 3, 2017, respectively, and these amounts are included in deferred revenue on the consolidated balance sheets. Lowe’s recognizes income from unredeemed stored-value cards at the point at which redemption becomes remote. Lowe’s stored-value cards have no expiration date or dormancy fees. Therefore, to determine when redemption is remote, Lowe’s analyzes an aging of the unredeemed cards based on the date of last stored-value card use. The amount of revenue recognized from unredeemed stored-value cards for which redemption was deemed remote was not significant for 2017, 2016, and 2015.

Source: 10-K (filing date: 2018-04-02).


Revenues as Reported

Lowe’s Cos. Inc., Income Statement, Revenues

USD $ in millions

Microsoft Excel LibreOffice Calc
12 months ended Feb 2, 2018 Feb 3, 2017 Jan 29, 2016 Jan 30, 2015 Jan 31, 2014 Feb 1, 2013
Lumber & Building Materials hidden hidden hidden hidden hidden hidden
Appliances hidden hidden hidden hidden hidden hidden
Seasonal & Outdoor Living hidden hidden hidden hidden hidden hidden
Tools & Hardware hidden hidden hidden hidden hidden hidden
Fashion Fixtures hidden hidden hidden hidden hidden hidden
Rough Plumbing & Electrical hidden hidden hidden hidden hidden hidden
Paint hidden hidden hidden hidden hidden hidden
Millwork hidden hidden hidden hidden hidden hidden
Lawn & Garden hidden hidden hidden hidden hidden hidden
Flooring hidden hidden hidden hidden hidden hidden
Kitchens hidden hidden hidden hidden hidden hidden
Home Fashions hidden hidden hidden hidden hidden hidden
Other hidden hidden hidden hidden hidden hidden
Net sales hidden hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2018-04-02), 10-K (filing date: 2017-04-04), 10-K (filing date: 2016-03-29), 10-K (filing date: 2015-03-31), 10-K (filing date: 2014-03-31), 10-K (filing date: 2013-04-02).

Item Description The company
Net sales Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Lowe’s Cos. Inc.’s net sales increased from 2016 to 2017 and from 2017 to 2018.