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.

Lowe’s Cos. Inc., consolidated balance sheet: assets

US$ in millions

	Jan 31, 2025	Feb 2, 2024	Feb 3, 2023	Jan 28, 2022	Jan 29, 2021	Jan 31, 2020
Cash and cash equivalents	1,761)	921)	1,348)	1,133)	4,690)	716)
Short-term investments	372)	307)	384)	271)	506)	160)
Receivables, net	—)	—)	—)	—)	—)	—)
Merchandise inventory, net	17,409)	16,894)	18,532)	17,605)	16,193)	13,179)
Other current assets	816)	949)	1,178)	1,051)	937)	1,263)
Current assets	20,358)	19,071)	21,442)	20,060)	22,326)	15,318)
Property, less accumulated depreciation	17,649)	17,653)	17,567)	19,071)	19,155)	18,669)
Operating lease right-of-use assets	3,738)	3,733)	3,518)	4,108)	3,832)	3,891)
Long-term investments	277)	252)	121)	199)	200)	372)
Deferred income taxes, net	244)	248)	250)	164)	340)	216)
Other assets	836)	838)	810)	1,038)	882)	1,005)
Noncurrent assets	22,744)	22,724)	22,266)	24,580)	24,409)	24,153)
Total assets	43,102)	41,795)	43,708)	44,640)	46,735)	39,471)

Based on: 10-K (reporting date: 2025-01-31), 10-K (reporting date: 2024-02-02), 10-K (reporting date: 2023-02-03), 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31).

The financial data reveals several notable trends in asset composition and valuation over the observed periods.

Cash and Cash Equivalents: This category experienced significant fluctuation, reaching a peak in early 2021 at $4.69 billion before declining sharply in the next year. Subsequently, cash levels showed variation with an increase noted in the most recent period.
Short-term Investments: Short-term investments increased markedly by 2021, then decreased and stabilized with moderate values in the later periods.
Merchandise Inventory, Net: Inventory levels followed an upward trend from 2020 through early 2023, peaking near $18.5 billion. A decline occurred in the following period but levels held relatively steady thereafter.
Other Current Assets: This category showed a general decline over time, with some intermittent recovery, indicating potential changes in less liquid current asset components.
Current Assets: Current assets overall surged in 2021, reflecting increases in cash, investments, and inventory. However, a gradual decrease followed through to 2024, with a slight rebound in the latest period.
Property, Less Accumulated Depreciation: Property values remained relatively stable with slight variations, showing a modest decline starting 2022 that plateaued in the last two years.
Operating Lease Right-of-Use Assets: These assets showed minor fluctuations but remained generally steady, suggesting consistent lease usage or changes in lease accounting.
Long-term Investments: Long-term investments declined through 2023 before recovering moderately, indicating adjustments in long-term asset management or market conditions.
Deferred Income Taxes, Net: Deferred income taxes exhibited some volatility, with initial growth followed by declines but stabilizing in the later years.
Other Assets: Other assets decreased over time, pointing to reduced holdings in ancillary or diverse asset categories.
Noncurrent Assets: Noncurrent assets peaked between 2021 and 2022, then declined notably by 2023, stabilizing in subsequent periods. This trend suggests asset base contraction or revaluation.
Total Assets: Total assets increased substantially by 2021, followed by a steady decrease through 2024. A slight recovery was observed in the last reported period, indicating adjustments in overall asset holdings or business scale.

Assets: Selected Items

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Current Assets: Selected Items

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Lowe’s Cos. Inc. (NYSE:LOW)

Balance Sheet: Assets

Assets: Selected Items

Current Assets: Selected Items