Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Lowe’s Cos. Inc., consolidated cash flow statement

US$ in millions

12 months ended:	Feb 2, 2024	Feb 3, 2023	Jan 28, 2022	Jan 29, 2021	Jan 31, 2020	Feb 1, 2019
Net earnings	7,726)	6,437)	8,442)	5,835)	4,281)	2,314)
Depreciation and amortization	1,923)	1,981)	1,882)	1,594)	1,410)	1,607)
Noncash lease expense	499)	530)	517)	479)	468)	—)
Deferred income taxes	6)	(239)	135)	(108)	177)	(151)
Asset impairment and loss on property, net	83)	2,118)	34)	139)	117)	630)
(Gain) loss on sale of business	(79)	421)	—)	—)	—)	—)
Impairment of goodwill	—)	—)	—)	—)	—)	952)
Loss on extinguishment of debt	—)	—)	—)	1,060)	—)	—)
Share-based payment expense	210)	223)	230)	155)	98)	74)
Merchandise inventory, net	1,637)	(2,594)	(1,413)	(2,967)	(600)	(1,289)
Other operating assets	182)	56)	(23)	326)	(364)	(101)
Accounts payable	(1,820)	(549)	466)	3,211)	(637)	1,720)
Deferred revenue	(170)	(183)	413)	512)	(15)	23)
Other operating liabilities	(2,057)	388)	(570)	813)	(639)	414)
Changes in operating assets and liabilities	(2,228)	(2,882)	(1,127)	1,895)	(2,255)	767)
Adjustments to reconcile net earnings to net cash provided by operating activities	414)	2,152)	1,671)	5,214)	15)	3,879)
Net cash provided by operating activities	8,140)	8,589)	10,113)	11,049)	4,296)	6,193)
Purchases of investments	(1,785)	(1,189)	(3,065)	(3,094)	(743)	(1,373)
Proceeds from sale/maturity of investments	1,722)	1,174)	3,293)	2,926)	695)	1,393)
Capital expenditures	(1,964)	(1,829)	(1,853)	(1,791)	(1,484)	(1,174)
Proceeds from sale of property and other long-term assets	53)	45)	113)	90)	163)	76)
Proceeds from sale of business	100)	491)	—)	—)	—)	—)
Other, net	(27)	(1)	(134)	(25)	—)	(2)
Net cash used in investing activities	(1,901)	(1,309)	(1,646)	(1,894)	(1,369)	(1,080)
Net change in commercial paper	(499)	499)	—)	(941)	220)	(415)
Net proceeds from issuance of debt	2,983)	9,667)	4,972)	7,929)	3,972)	—)
Repayment of debt	(601)	(867)	(2,118)	(5,618)	(1,113)	(326)
Proceeds from issuance of common stock under share-based payment plans	141)	151)	132)	152)	118)	114)
Cash dividend payments	(2,531)	(2,370)	(1,984)	(1,704)	(1,618)	(1,455)
Repurchases of common stock	(6,138)	(14,124)	(13,012)	(4,971)	(4,313)	(3,037)
Other, net	(21)	(5)	(6)	(38)	(1)	(5)
Net cash used in financing activities	(6,666)	(7,049)	(12,016)	(5,191)	(2,735)	(5,124)
Effect of exchange rate changes on cash	—)	(16)	(8)	10)	1)	(12)
Net increase (decrease) in cash and cash equivalents, including cash classified within current assets held for sale	(427)	215)	(3,557)	3,974)	193)	(23)
Net (increase) decrease in cash classified within current assets held for sale	—)	—)	—)	—)	12)	(54)
Net increase (decrease) in cash and cash equivalents	(427)	215)	(3,557)	3,974)	205)	(77)
Cash and cash equivalents, beginning of year	1,348)	1,133)	4,690)	716)	511)	588)
Cash and cash equivalents, end of year	921)	1,348)	1,133)	4,690)	716)	511)

Based on: 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), 10-K (reporting date: 2019-02-01).

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Cash flow statement item	Description	The company
Net cash provided by operating activities	Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.	Lowe’s Cos. Inc. net cash provided by operating activities decreased from 2022 to 2023 and from 2023 to 2024.
Net cash used in investing activities	Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.	Lowe’s Cos. Inc. net cash used in investing activities increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.
Net cash used in financing activities	Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.	Lowe’s Cos. Inc. net cash used in financing activities increased from 2022 to 2023 and from 2023 to 2024.

Lowe’s Cos. Inc. (NYSE:LOW)

Cash Flow Statement