Adjustments to Financial Statements
Advanced level
Adjustments to Total Assets
Lowe’s Cos. Inc., adjusted total assets
US$ in millions
|
|
Jan 29, 2021 |
Jan 31, 2020 |
Feb 1, 2019 |
Feb 2, 2018 |
Feb 3, 2017 |
Jan 29, 2016 |
|
As Reported |
|
|
Total assets |
46,735 | 39,471 | 34,508 | 35,291 | 34,408 | 31,266 |
|
Adjustments |
|
|
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)1 |
— | — | 3,663 | 3,972 | 3,937 | 3,274 |
|
|
Less: Deferred tax assets2 |
340 | 216 | 294 | 168 | 222 | 241 |
|
After Adjustment |
|
|
Adjusted total assets |
46,395 |
39,255 |
37,877 |
39,095 |
38,123 |
34,299 |
Based on:
10-K (filing date: 2021-03-22),
10-K (filing date: 2020-03-23),
10-K (filing date: 2019-04-02),
10-K (filing date: 2018-04-02),
10-K (filing date: 2017-04-04),
10-K (filing date: 2016-03-29).
Adjustments to Current Liabilities
Lowe’s Cos. Inc., adjusted current liabilities
US$ in millions
|
|
Jan 29, 2021 |
Jan 31, 2020 |
Feb 1, 2019 |
Feb 2, 2018 |
Feb 3, 2017 |
Jan 29, 2016 |
|
As Reported |
|
|
Current liabilities |
18,730 | 15,182 | 14,497 | 12,096 | 11,974 | 10,492 |
|
Adjustments |
|
|
Less: Current deferred revenue |
1,608 | 1,219 | 1,299 | 1,378 | 1,253 | 1,078 |
|
After Adjustment |
|
|
Adjusted current liabilities |
17,122 |
13,963 |
13,198 |
10,718 |
10,721 |
9,414 |
Based on:
10-K (filing date: 2021-03-22),
10-K (filing date: 2020-03-23),
10-K (filing date: 2019-04-02),
10-K (filing date: 2018-04-02),
10-K (filing date: 2017-04-04),
10-K (filing date: 2016-03-29).
Adjustments to Total Liabilities
Lowe’s Cos. Inc., adjusted total liabilities
US$ in millions
|
|
Jan 29, 2021 |
Jan 31, 2020 |
Feb 1, 2019 |
Feb 2, 2018 |
Feb 3, 2017 |
Jan 29, 2016 |
|
As Reported |
|
|
Total liabilities |
45,298 | 37,499 | 30,864 | 29,418 | 27,974 | 23,612 |
|
Adjustments |
|
|
Add: Operating lease liability (before adoption of FASB Topic 842)1 |
— | — | 3,663 | 3,972 | 3,937 | 3,274 |
|
|
Less: Deferred tax liabilities2 |
— | — | — | 28 | 22 | — |
|
|
Less: Deferred revenue |
2,627 | 2,113 | 2,126 | 2,181 | 2,016 | 1,807 |
|
|
Less: Accrual for exit activities |
69 | 88 | 361 | 60 | 66 | 67 |
|
After Adjustment |
|
|
Adjusted total liabilities |
42,602 |
35,298 |
32,040 |
31,121 |
29,807 |
25,012 |
Based on:
10-K (filing date: 2021-03-22),
10-K (filing date: 2020-03-23),
10-K (filing date: 2019-04-02),
10-K (filing date: 2018-04-02),
10-K (filing date: 2017-04-04),
10-K (filing date: 2016-03-29).
Adjustments to Stockholders’ Equity
Lowe’s Cos. Inc., adjusted shareholders’ equity
US$ in millions
|
|
Jan 29, 2021 |
Jan 31, 2020 |
Feb 1, 2019 |
Feb 2, 2018 |
Feb 3, 2017 |
Jan 29, 2016 |
|
As Reported |
|
|
Shareholders’ equity |
1,437 | 1,972 | 3,644 | 5,873 | 6,434 | 7,654 |
|
Adjustments |
|
|
Less: Net deferred tax asset (liability)1 |
340 | 216 | 294 | 140 | 200 | 241 |
|
|
Add: Deferred revenue |
2,627 | 2,113 | 2,126 | 2,181 | 2,016 | 1,807 |
|
|
Add: Accrual for exit activities |
69 | 88 | 361 | 60 | 66 | 67 |
|
After Adjustment |
|
|
Adjusted shareholders’ equity |
3,793 |
3,957 |
5,837 |
7,974 |
8,316 |
9,287 |
Based on:
10-K (filing date: 2021-03-22),
10-K (filing date: 2020-03-23),
10-K (filing date: 2019-04-02),
10-K (filing date: 2018-04-02),
10-K (filing date: 2017-04-04),
10-K (filing date: 2016-03-29).
Adjustments to Capitalization Table
Lowe’s Cos. Inc., adjusted capitalization table
US$ in millions
|
|
Jan 29, 2021 |
Jan 31, 2020 |
Feb 1, 2019 |
Feb 2, 2018 |
Feb 3, 2017 |
Jan 29, 2016 |
|
As Reported |
|
|
Short-term borrowings |
— | 1,941 | 722 | 1,137 | 510 | 43 |
|
|
Current maturities of long-term debt |
1,112 | 597 | 1,110 | 294 | 795 | 1,061 |
|
|
Long-term debt, excluding current maturities |
20,668 | 16,768 | 14,391 | 15,564 | 14,394 | 11,545 |
|
|
Total reported debt |
21,780 |
19,306 |
16,223 |
16,995 |
15,699 |
12,649 |
|
|
Shareholders’ equity |
1,437 | 1,972 | 3,644 | 5,873 | 6,434 | 7,654 |
|
|
Total reported capital |
23,217 |
21,278 |
19,867 |
22,868 |
22,133 |
20,303 |
|
Adjustments to Debt |
|
|
Add: Operating lease liability (before adoption of FASB Topic 842)1 |
— | — | 3,663 | 3,972 | 3,937 | 3,274 |
|
|
Add: Current operating lease liabilities2 |
541 | 501 | — | — | — | — |
|
|
Add: Noncurrent operating lease liabilities3 |
3,890 | 3,943 | — | — | — | — |
|
|
Adjusted total debt |
26,211 |
23,750 |
19,886 |
20,967 |
19,636 |
15,923 |
|
Adjustments to Equity |
|
|
Less: Net deferred tax asset (liability)4 |
340 | 216 | 294 | 140 | 200 | 241 |
|
|
Add: Deferred revenue |
2,627 | 2,113 | 2,126 | 2,181 | 2,016 | 1,807 |
|
|
Add: Accrual for exit activities |
69 | 88 | 361 | 60 | 66 | 67 |
|
|
Adjusted shareholders’ equity |
3,793 |
3,957 |
5,837 |
7,974 |
8,316 |
9,287 |
|
After Adjustment |
|
|
Adjusted total capital |
30,004 |
27,707 |
25,723 |
28,941 |
27,952 |
25,210 |
Based on:
10-K (filing date: 2021-03-22),
10-K (filing date: 2020-03-23),
10-K (filing date: 2019-04-02),
10-K (filing date: 2018-04-02),
10-K (filing date: 2017-04-04),
10-K (filing date: 2016-03-29).
Adjustments to Revenues
Lowe’s Cos. Inc., adjusted net sales
US$ in millions
|
12 months ended: |
Jan 29, 2021 |
Jan 31, 2020 |
Feb 1, 2019 |
Feb 2, 2018 |
Feb 3, 2017 |
Jan 29, 2016 |
|
As Reported |
|
|
Net sales |
89,597 | 72,148 | 71,309 | 68,619 | 65,017 | 59,074 |
|
Adjustment |
|
|
Add: Increase (decrease) in deferred revenue |
514 | (13) | (55) | 165 | 209 | 98 |
|
After Adjustment |
|
|
Adjusted net sales |
90,111 |
72,135 |
71,254 |
68,784 |
65,226 |
59,172 |
Based on:
10-K (filing date: 2021-03-22),
10-K (filing date: 2020-03-23),
10-K (filing date: 2019-04-02),
10-K (filing date: 2018-04-02),
10-K (filing date: 2017-04-04),
10-K (filing date: 2016-03-29).
Adjustments to Reported Income
Lowe’s Cos. Inc., adjusted net earnings
US$ in millions
|
12 months ended: |
Jan 29, 2021 |
Jan 31, 2020 |
Feb 1, 2019 |
Feb 2, 2018 |
Feb 3, 2017 |
Jan 29, 2016 |
|
As Reported |
|
|
Net earnings |
5,835 | 4,281 | 2,314 | 3,447 | 3,093 | 2,546 |
|
Adjustments |
|
|
Add: Deferred income tax expense (benefit)1 |
(99) | 139 | (157) | 56 | 9 | (63) |
|
|
Add: Increase (decrease) in deferred revenue |
514 | (13) | (55) | 165 | 209 | 98 |
|
|
Add: Increase (decrease) in accrual for exit activities |
(19) | (273) | 301 | (6) | (1) | 14 |
|
|
Add: Other comprehensive income (loss) |
— | 73 | (220) | 251 | 154 | (291) |
|
After Adjustment |
|
|
Adjusted net earnings |
6,231 |
4,207 |
2,183 |
3,913 |
3,464 |
2,304 |
Based on:
10-K (filing date: 2021-03-22),
10-K (filing date: 2020-03-23),
10-K (filing date: 2019-04-02),
10-K (filing date: 2018-04-02),
10-K (filing date: 2017-04-04),
10-K (filing date: 2016-03-29).
