Balance Sheet: Liabilities and Stockholders’ Equity
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.
Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.
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Lowe’s Cos. Inc. pages available for free this week:
- Income Statement
- Statement of Comprehensive Income
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Selected Financial Data since 2005
- Return on Equity (ROE) since 2005
- Current Ratio since 2005
- Analysis of Debt
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Lowe’s Cos. Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2025-10-31), 10-Q (reporting date: 2025-08-01), 10-Q (reporting date: 2025-05-02), 10-K (reporting date: 2025-01-31), 10-Q (reporting date: 2024-11-01), 10-Q (reporting date: 2024-08-02), 10-Q (reporting date: 2024-05-03), 10-K (reporting date: 2024-02-02), 10-Q (reporting date: 2023-11-03), 10-Q (reporting date: 2023-08-04), 10-Q (reporting date: 2023-05-05), 10-K (reporting date: 2023-02-03), 10-Q (reporting date: 2022-10-28), 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).
- Short-term Borrowings
- Short-term borrowings appear intermittently, with values recorded mainly from early 2020 through mid-2024. Peak borrowing is observed in May 2020 at 1,941 million USD, followed by a declining trend to single or low triple-digit millions thereafter. This suggests the use of short-term borrowing was concentrated around the early pandemic period, with lower reliance in subsequent quarters.
- Current Maturities of Long-term Debt
- This liability fluctuates significantly, starting at 1,008 million USD in mid-2019, rising gradually to a peak near the end of 2024 at 4,183 million USD before decreasing to 2,437 million USD by the last quarter in 2025. The pattern indicates scheduled repayments or refinancing activities that generally increased current debt obligations over time.
- Current Operating Lease Liabilities
- Current operating lease liabilities exhibit a gradual upward trend from 500 million USD in mid-2019 to a high around 691 million USD in late 2025. Minor fluctuations occur, but overall the increase suggests expanding or renewing lease commitments.
- Accounts Payable
- Accounts payable display volatility with multiple peaks and troughs. Starting at 11,485 million USD in mid-2019, it declined sharply in early 2020 but surged to values above 13,000 million USD on several occasions through 2022 and 2023, before declining again toward the later periods. This reflects variable purchasing and payment cycles potentially influenced by supply chain conditions or operational adjustments.
- Accrued Compensation and Employee Benefits
- This liability generally increased from around 769 million USD in mid-2019 to peaks exceeding 1,400 million USD during 2020 and early 2022. Subsequent quarters reflect downward adjustments and stabilization near 1,000 million USD with some fluctuation, indicating changes in payroll-related obligations along with possible workforce fluctuations.
- Deferred Revenue and Related Accounts
- Deferred revenue and Lowe’s protection plan deferred revenue generally increased over time, with total deferred revenue moving from about 1,376 million USD in mid-2019 to approximately 1,537 million USD by late 2025. The steady growth suggests consistent or increasing prepayments for future services or warranties.
- Other Current Liabilities
- This account shows strong volatility with upward spikes over the period, increasing from 2,643 million USD in 2019 to peaks surpassing 4,700 million USD around mid-2025, before retracting somewhat. Such movements may reflect variable operational accruals or one-time charges.
- Current Liabilities Total
- Current liabilities in aggregate follow a pattern of growth through 2019 and 2020, reaching values close to 22,388 million USD at peaks, then generally declining to around 16,496 million USD in early 2024 before rising again towards the end of the series. This pattern reflects the combined influences of the components described above.
- Long-term Debt, Excluding Current Maturities
- Long-term debt steadily increased from 16,542 million USD in mid-2019 to a peak of nearly 37,498 million USD in late 2025. This indicates a sustained rise in debt financing, which may be related to funding expansions, investments, or refinancing activities.
- Noncurrent Operating Lease Liabilities
- This liability remains relatively stable with minor fluctuations between approximately 3,859 million USD and 4,070 million USD, with a slight declining trend in the early 2020s before creeping up again towards 2025. This stability reflects ongoing long-term lease commitments.
- Other Noncurrent Liabilities
- Other liabilities maintained relatively consistent values between 700 million USD and 1,000 million USD without significant trends, suggesting steady noncurrent obligations outside of debt and leases.
- Noncurrent Liabilities Total
- Noncurrent liabilities saw a marked increase from around 22,200 million USD in 2019 to nearly 44,384 million USD by late 2025. This substantial increase is principally driven by rising long-term debt and operating lease obligations, indicating increasing leverage over the period.
- Total Liabilities
- Total liabilities grew from roughly 39,983 million USD in mid-2019 to over 63,800 million USD by 2025, reflecting the combined increase in both current and noncurrent liabilities and indicating an overall growth in financial obligations.
- Common Stock and Capital in Excess of Par Value
- Common stock par value declined slightly from 397 million USD in mid-2019 to 280 million USD by late 2025, which may suggest repurchases or retirements of shares. Capital in excess of par shows sporadic increases indicating issuance or other equity transactions, though it remains irregular over time.
- Retained Earnings (Accumulated Deficit)
- Retained earnings display a declining trend, transitioning from positive 3,095 million USD in mid-2019 to a significant deficit exceeding -11,100 million USD by late 2025. The persistent and deepening deficit indicates cumulative net losses or substantial distributions exceeding earnings over the period.
- Accumulated Other Comprehensive Income (Loss)
- This account shows minor fluctuations around small negative and positive balances, typically within ±300 million USD, suggesting limited impact from other comprehensive income items on overall equity.
- Shareholders’ Equity (Deficit)
- Shareholders’ equity decreased substantially from a positive 3,236 million USD in mid-2019 to a negative balance of approximately -10,400 million USD by the last period. This deterioration in equity aligns with the expanding accumulated deficit and may reflect ongoing losses or capital reductions, signaling potential financial stress or restructuring.
- Total Liabilities and Shareholders’ Equity
- The total balances increased from roughly 43,219 million USD in mid-2019 to over 53,400 million USD by late 2025, driven primarily by liability growth, while the declining equity component reduced the net book value, highlighting increasing leverage and funding through debt rather than equity.