Balance Sheet: Assets
Quarterly Data

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 (quarterly data)

US$ in millions

	Aug 1, 2025	May 2, 2025	Jan 31, 2025	Nov 1, 2024	Aug 2, 2024	May 3, 2024	Feb 2, 2024	Nov 3, 2023	Aug 4, 2023	May 5, 2023	Feb 3, 2023	Oct 28, 2022	Jul 29, 2022	Apr 29, 2022	Jan 28, 2022	Oct 29, 2021	Jul 30, 2021	Apr 30, 2021	Jan 29, 2021	Oct 30, 2020	Jul 31, 2020	May 1, 2020	Jan 31, 2020	Nov 1, 2019	Aug 2, 2019	May 3, 2019
Cash and cash equivalents	4,860)	3,054)	1,761)	3,271)	4,360)	3,237)	921)	1,210)	3,494)	2,950)	1,348)	3,192)	1,482)	3,414)	1,133)	6,121)	4,835)	6,692)	4,690)	8,249)	11,641)	5,955)	716)	794)	1,796)	2,973)
Short-term investments	396)	368)	372)	335)	330)	264)	307)	321)	374)	423)	384)	464)	450)	368)	271)	552)	1,420)	454)	506)	1,852)	1,085)	201)	160)	127)	275)	190)
Merchandise inventory, net	16,342)	18,335)	17,409)	17,566)	16,841)	18,224)	16,894)	17,530)	17,422)	19,522)	18,532)	19,817)	19,329)	20,239)	17,605)	16,685)	17,322)	18,382)	16,193)	15,712)	13,831)	14,283)	13,179)	13,716)	13,730)	15,026)
Other current assets	1,041)	918)	816)	805)	806)	1,025)	949)	907)	946)	1,023)	1,178)	1,518)	1,406)	1,590)	1,051)	1,491)	1,506)	1,288)	937)	1,103)	1,160)	1,487)	1,263)	1,025)	995)	1,146)
Current assets	22,639)	22,675)	20,358)	21,977)	22,337)	22,750)	19,071)	19,968)	22,236)	23,918)	21,442)	24,991)	22,667)	25,611)	20,060)	24,849)	25,083)	26,816)	22,326)	26,916)	27,717)	21,926)	15,318)	15,662)	16,796)	19,335)
Property, less accumulated depreciation	17,708)	17,636)	17,649)	17,586)	17,515)	17,531)	17,653)	17,527)	17,373)	17,402)	17,567)	17,275)	18,713)	18,890)	19,071)	18,925)	19,031)	19,059)	19,155)	18,683)	18,612)	18,501)	18,669)	18,371)	18,203)	18,150)
Operating lease right-of-use assets	3,887)	3,799)	3,738)	3,771)	3,819)	3,829)	3,733)	3,647)	3,650)	3,504)	3,518)	3,512)	4,158)	4,131)	4,108)	4,161)	3,820)	3,886)	3,832)	3,823)	3,798)	3,876)	3,891)	3,873)	3,967)	3,926)
Long-term investments	273)	300)	277)	312)	292)	306)	252)	238)	182)	103)	121)	63)	56)	76)	199)	213)	225)	197)	200)	202)	326)	300)	372)	363)	179)	235)
Deferred income taxes, net	140)	118)	244)	261)	184)	115)	248)	280)	230)	150)	250)	301)	104)	33)	164)	220)	221)	213)	340)	241)	267)	215)	216)	479)	512)	495)
Intangibles, net	976)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Goodwill	691)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Other assets	300)	844)	836)	836)	787)	834)	838)	859)	850)	840)	810)	831)	1,027)	984)	1,038)	1,032)	1,024)	1,029)	882)	1,015)	1,043)	1,014)	1,005)	1,016)	1,038)	1,078)
Noncurrent assets	23,975)	22,697)	22,744)	22,766)	22,597)	22,615)	22,724)	22,551)	22,285)	21,999)	22,266)	21,982)	24,058)	24,114)	24,580)	24,551)	24,321)	24,384)	24,409)	23,964)	24,046)	23,906)	24,153)	24,102)	23,899)	23,884)
Total assets	46,614)	45,372)	43,102)	44,743)	44,934)	45,365)	41,795)	42,519)	44,521)	45,917)	43,708)	46,973)	46,725)	49,725)	44,640)	49,400)	49,404)	51,200)	46,735)	50,880)	51,763)	45,832)	39,471)	39,764)	40,695)	43,219)

Cash and cash equivalents: The cash and cash equivalents balance fluctuated significantly over the analyzed periods. Starting from a high at 2973 million USD in May 2019, it decreased sharply in the latter half of 2019 and early 2020, reaching a trough of 716 million USD in January 2020. There was a substantial increase in May and July 2020, peaking at 11,641 million USD before declining gradually through 2021 and early 2022. Subsequent periods showed volatility but generally lower levels compared to the 2020 peak, with the latest figure at 4,860 million USD in August 2024.
Short-term investments: Short-term investments exhibited moderate volatility with no clear upward or downward trend. The amount ranged from a low of 127 million USD in November 2019 to a peak of 1,852 million USD in October 2020. Post-2020, the values oscillated within a range of approximately 264 to 450 million USD, indicating relatively stable but limited investment activity in the short term.
Merchandise inventory, net: Merchandise inventory levels showed a general increasing trend from May 2019 through early 2022, rising from 15,026 million USD to a peak of 20,239 million USD in April 2022. Afterward, inventory quantities experienced some fluctuations but remained elevated compared to pre-2021 levels. The inventory level declined noticeably toward the latest periods, settling at 16,342 million USD in August 2024, suggesting adjustments in stock management possibly reflective of changing demand or supply conditions.
Other current assets: Other current assets demonstrated moderate fluctuations without a definitive trend. The amounts generally ranged between approximately 800 and 1,500 million USD, indicating relatively stable current asset components outside of cash, investments, and inventory across the periods analyzed.
Current assets: Total current assets rose markedly during the May to July 2020 period, peaking at 27,717 million USD, reflecting increases in cash, inventories, and other assets. Following this peak, current assets generally declined but remained above pre-2020 levels. Fluctuations continued through 2023 and 2024, with values stabilizing around 22,000 million USD in later periods, indicating a normalization after the substantial liquidity increases experienced in the early pandemic phase.
Property, less accumulated depreciation: This asset category remained relatively stable with only minor fluctuations around an average value close to 18,000 million USD throughout the entire period. A slight decline was noted in 2022, but values remained consistent, reflecting steady investment in or aging of fixed property assets without substantial disposals or additions impacting the net book value.
Operating lease right-of-use assets: The balance of operating lease right-of-use assets was stable around 3,800 to 4,100 million USD until early 2022 when a noticeable decline occurred, bringing the figure down to about 3,500 million USD. Subsequently, a gradual recovery was observed, ending with a value near 3,887 million USD in August 2024. This pattern suggests adjustments in lease agreements or asset utilization during the period.
Long-term investments: Long-term investments showed no consistent growth or decline but fluctuated between roughly 50 million and 360 million USD. Notable is an increment toward the latter part of the period, reaching 306 million USD in November 2023 and maintaining around 270–300 million USD thereafter, indicative of some reinvestment activity or reevaluation of long-term asset allocations.
Deferred income taxes, net: Deferred income taxes exhibited significant volatility, with values ranging from lows near 33 million USD to highs around 500 million USD early in the period. From 2022 onward, the balance settled within a narrower range of approximately 100 to 280 million USD, reflecting changes in tax positions or timing differences associated with temporary tax assets and liabilities.
Intangibles and Goodwill: Data for intangible assets and goodwill are sparse until the latest period, where intangible assets are recorded at 976 million USD and goodwill at 691 million USD in August 2024. This late appearance suggests a recent recognition or reclassification within the company's asset base.
Other assets: Other assets maintained a relatively stable level between 787 and 1,078 million USD over most periods, with a marked drop to 300 million USD in August 2024. This sharp decrease might indicate asset disposals, reclassifications, or impairments occurring in the most recent reporting period.
Noncurrent assets: Noncurrent assets remained largely constant around 23,000 to 24,000 million USD from 2019 through early 2022. A decline to approximately 21,982 million USD was observed starting mid-2022, persisting into 2023, followed by a recovery to around 23,975 million USD by August 2024. These movements suggest asset base adjustments during this timeframe, possibly due to depreciation, disposals, or acquisitions.
Total assets: Total assets experienced substantial growth between early 2020 and late 2020, rising from approximately 39,471 million USD to a peak of 51,763 million USD, primarily driven by increases in current assets. After peaking, total assets declined steadily through 2022 and 2023, bottoming around 41,795 million USD in February 2024. Later periods showed a recovery toward 46,614 million USD by August 2024. This overall pattern reflects significant asset accumulation during the pandemic onset followed by a partial normalization, indicative of strategic adjustments to asset management in response to evolving business conditions.

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Lowe’s Cos. Inc. (NYSE:LOW)

Balance Sheet: Assets Quarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data