Stock Analysis on Net

Lowe’s Cos. Inc. (NYSE:LOW)

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

Microsoft Excel
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 Feb 1, 2019 Nov 2, 2018 Aug 3, 2018 May 4, 2018 Feb 2, 2018 Nov 3, 2017 Aug 4, 2017 May 5, 2017 Feb 3, 2017 Oct 28, 2016 Jul 29, 2016 Apr 29, 2016
Cash and cash equivalents 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  511  1,668  2,251  1,565  588  743  1,696  1,963  558  960  1,988  4,561 
Short-term investments 450  368  271  552  1,420  454  506  1,852  1,085  201  160  127  275  190  218  208  391  205  102  85  119  84  100  123  168  174 
Merchandise inventory, net 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  12,561  12,365  11,885  13,204  11,393  12,393  11,407  12,254  10,458  10,990  10,604  11,055 
Other current assets 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  938  897  956  1,059  689  788  811  975  884  655  591  683 
Current assets 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  14,228  15,138  15,483  16,033  12,772  14,009  14,033  15,276  12,000  12,728  13,351  16,473 
Property, less accumulated depreciation 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  18,432  18,923  19,172  19,500  19,721  19,818  19,762  19,748  19,949  20,037  20,274  19,463 
Operating lease right-of-use assets 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 56  76  199  213  225  197  200  202  326  300  372  363  179  235  256  290  87  321  408  370  360  477  366  436  604  400 
Deferred income taxes, net 104  33  164  220  221  213  340  241  267  215  216  479  512  495  294  285  249  199  168  347  328  272  222  331  250  154 
Other assets 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  1,298  2,077  2,114  2,184  2,222  2,239  2,185  1,840  1,871  1,838  1,992  687 
Noncurrent assets 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  20,280  21,575  21,622  22,204  22,519  22,774  22,635  22,337  22,408  22,642  23,120  20,704 
Total assets 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  34,508  36,713  37,105  38,237  35,291  36,783  36,668  37,613  34,408  35,370  36,471  37,177 

Based on: 10-Q (reporting date: 2022-07-29), 10-Q (reporting date: 2022-04-29), 10-K (reporting date: 2022-01-28), 10-Q (reporting date: 2021-10-29), 10-Q (reporting date: 2021-07-30), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-29), 10-Q (reporting date: 2020-10-30), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-05-01), 10-K (reporting date: 2020-01-31), 10-Q (reporting date: 2019-11-01), 10-Q (reporting date: 2019-08-02), 10-Q (reporting date: 2019-05-03), 10-K (reporting date: 2019-02-01), 10-Q (reporting date: 2018-11-02), 10-Q (reporting date: 2018-08-03), 10-Q (reporting date: 2018-05-04), 10-K (reporting date: 2018-02-02), 10-Q (reporting date: 2017-11-03), 10-Q (reporting date: 2017-08-04), 10-Q (reporting date: 2017-05-05), 10-K (reporting date: 2017-02-03), 10-Q (reporting date: 2016-10-28), 10-Q (reporting date: 2016-07-29), 10-Q (reporting date: 2016-04-29).


Assets: Selected Items

Balance sheet item Description The company
Current assets Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Lowe’s Cos. Inc. current assets increased from Q4 2022 to Q1 2023 but then slightly decreased from Q1 2023 to Q2 2023 not reaching Q4 2022 level.
Property, less accumulated depreciation Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Lowe’s Cos. Inc. property, less accumulated depreciation decreased from Q4 2022 to Q1 2023 and from Q1 2023 to Q2 2023.
Noncurrent assets Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer. Lowe’s Cos. Inc. noncurrent assets decreased from Q4 2022 to Q1 2023 and from Q1 2023 to Q2 2023.
Total assets Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Lowe’s Cos. Inc. total assets increased from Q4 2022 to Q1 2023 but then slightly decreased from Q1 2023 to Q2 2023 not reaching Q4 2022 level.

Current Assets: Selected Items

Balance sheet item Description The company
Cash and cash equivalents Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Lowe’s Cos. Inc. cash and cash equivalents increased from Q4 2022 to Q1 2023 but then slightly decreased from Q1 2023 to Q2 2023 not reaching Q4 2022 level.
Short-term investments Amount of investments including trading securities, available-for-sale securities, held-to-maturity securities, and short-term investments classified as other and current. Lowe’s Cos. Inc. short-term investments increased from Q4 2022 to Q1 2023 and from Q1 2023 to Q2 2023.
Merchandise inventory, net Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer. Lowe’s Cos. Inc. merchandise inventory, net increased from Q4 2022 to Q1 2023 but then slightly decreased from Q1 2023 to Q2 2023.