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., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
US$ in millions
Based on: 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 intermittent, with values recorded primarily in mid-2020 and early 2023. The amounts vary significantly, peaking at 1,941 million USD in May 2020 and dropping to low levels such as 72 million USD in August 2023.
- Current Maturities of Long-term Debt
- This liability shows a relatively stable trend with fluctuations. Beginning around 1,008 million USD in May 2019, it fell to a low of 121 million USD in early 2022 but then surged substantially to over 4,000 million USD by early 2025. This suggests considerable refinancing or debt restructuring activity.
- Current Operating Lease Liabilities
- Current operating lease liabilities gradually increased from 500 million USD in mid-2019 to a peak around 651 million USD in late 2021. Subsequently, the values fluctuate slightly but generally decline towards the end of the period, reflecting possible changes in lease commitments or accounting adjustments.
- Accounts Payable
- Accounts payable experienced notable volatility. After decreasing from 11,485 million USD in May 2019 to 7,659 million USD in January 2020, it rebounded sharply to peak at approximately 13,964 million USD in April 2021. Following this peak, a declining trend is observable until early 2024, with some intermittent rises towards 11,235 million USD in May 2025. The fluctuations may reflect changes in supplier payment terms or operational volume.
- Accrued Compensation and Employee Benefits
- This item increased from 769 million USD in May 2019 to 1,561 million USD by January 2022. Thereafter, it declined to levels below 1,000 million USD by mid-2023, suggesting changes in staffing levels, payroll timing, or benefit obligations.
- Deferred Revenue
- Deferred revenue showed gradual growth from approximately 1,376 million USD in mid-2019 to a high of about 2,094 million USD in early 2022, but subsequently declined to levels around 1,500 million USD by mid-2025. This pattern indicates a buildup followed by reduction in advance customer payments or obligations.
- Other Current Liabilities
- Other current liabilities increased from around 2,643 million USD in mid-2019 to a peak exceeding 4,600 million USD in early 2023, before falling to approximately 4,055 million USD in May 2025. The general upward movement suggests rising short-term obligations or accrued expenses.
- Current Liabilities (Aggregate)
- Current liabilities demonstrated an overall increasing pattern from approximately 17,781 million USD in May 2019 to a peak near 22,892 million USD in April 2021, followed by a gradual decline to approximately 15,568 million USD by early 2024. Subsequently, there is some volatility with levels rising back to around 22,388 million USD by May 2025. The variability corresponds to movements among individual current liability components.
- Long-term Debt, Excluding Current Maturities
- Long-term debt excluding current maturities increased steadily from about 16,542 million USD in mid-2019 to nearly 32,904 million USD by early 2023. Thereafter, a downward trend occurred, falling to approximately 30,541 million USD in May 2025. The initial rise indicates significant long-term borrowing, with subsequent repayments or reclassifications reducing this figure.
- Noncurrent Operating Lease Liabilities
- These liabilities remained relatively stable with minor fluctuations between 3,800 million USD and 4,100 million USD over the observed period. A slight downward trend is noticeable after early 2022, indicating possible lease terminations or adjustments.
- Deferred Revenue from Protection Plans
- Deferred revenue specifically related to protection plans increased steadily from 837 million USD in mid-2019 to approximately 1,268 million USD by late 2024, reflecting growth in such service contracts. The level remains broadly stable thereafter.
- Other Liabilities
- Other liabilities showed moderate fluctuations around 700 to 1,000 million USD without a clear directional trend, suggesting these obligations remained stable over time.
- Noncurrent Liabilities (Aggregate)
- Noncurrent liabilities trended upwards from approximately 22,202 million USD mid-2019, peaking near 41,417 million USD by early 2023, followed by a gradual decline to about 36,238 million USD by mid-2025. This reflects the same pattern as long-term debt and other noncurrent obligations.
- Total Liabilities
- Total liabilities increased from roughly 39,983 million USD in mid-2019 to a high of about 59,971 million USD by early 2024, then modestly declined to approximately 58,626 million USD by mid-2025. This increase was driven by growth in both current and noncurrent liabilities, consistent with expanded financing activities.
- Common Stock
- Common stock showed a gradual decrease from 397 million USD in mid-2019 to approximately 280 million USD by early 2025, indicating possible share repurchases or retirements.
- Capital in Excess of Par Value
- Capital in excess of par value exhibits irregular data with sparse reporting, but values fluctuate within a narrow range without clear trend.
- Retained Earnings (Accumulated Deficit)
- Retained earnings declined substantially over the period, moving from positive 3,095 million USD in mid-2019 to a deficit exceeding 13,800 million USD by mid-2025. This persistent negative trend suggests cumulative net losses or large distributions to shareholders exceeding earnings.
- Accumulated Other Comprehensive Income (Loss)
- This component improved from a negative balance of 256 million USD in mid-2019 to a positive range near 300 million USD by mid-2025. The movement reflects changes in unrealized gains or losses recognized in equity.
- Shareholders' Equity (Deficit)
- Shareholders’ equity declined sharply over the period, moving from positive 3,236 million USD in May 2019 to a deficit exceeding 14,200 million USD by early 2025. This decline reflects the impact of accumulated losses and share repurchases, resulting in an overall negative equity position.
- Total Liabilities and Shareholders’ Equity
- The total of liabilities and equity fluctuated moderately, starting around 43,219 million USD in mid-2019, peaking near 51,200 million USD in early 2021, and ending close to 45,372 million USD by mid-2025. The pattern corresponds primarily with liability changes and the negative equity developments described.