Stock Analysis on Net
Stock Analysis on Net

Lowe’s Cos. Inc. (NYSE:LOW)

Cash Flow Statement
Quarterly Data

Beginner level

The cash flow statement provides information about a company’s 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’s 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 (quarterly data)

US$ in millions

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3 months ended: 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 Jan 29, 2016 Oct 30, 2015 Jul 31, 2015 May 1, 2015 Jan 30, 2015 Oct 31, 2014 Aug 1, 2014 May 2, 2014
Net earnings 1,337  510  1,049  1,676  1,046  (824) 629  1,521  988  554  872  1,419  602  663  379  1,167  884  11  736  1,126  673  450  585  1,039  624 
Depreciation and amortization 373  381  345  347  337  401  455  364  387  392  380  379  389  400  412  395  383  395  401  400  391  387  401  400  398 
Noncash lease expense 116  127  113  114  114  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Deferred income taxes 46  265  33  (15) (106) (12) (64) (54) (21) 171  (31) (23) (64) 100  (47) (77) 52  72  (38) (64) (38) 77  (64) (70) (67)
(Gain) loss on property and other assets, net 17  24  55  40  (2) 230  139  255  19  11  13  181  (62) 11  14  10  (5) 24 
Impairment of goodwill —  —  —  —  —  952  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Loss on extinguishment of debt —  —  —  —  —  —  —  —  —  —  —  —  464  —  —  —  —  —  —  —  —  —  —  —  — 
(Gain) loss on cost method and equity method investments —  —  —  14  (2) —  (94) 295  545  15  14  17  10  16  14  17 
Share-based payment expense 27  23  24  42  (5) 17  38  24  21  23  29  26  19  22  24  25  33  27  28  29  35  31  25  28 
Merchandise inventory, net (1,183) 529  24  1,325  (2,478) (259) (481) 1,297  (1,846) 992  (933) 958  (1,808) 540  (408) 1,246  (1,556) 954  (732) 883  (1,687) 811  (459) 1,202  (1,384)
Other operating assets (206) (268) 157  (273) (16) 46  94  (234) 64  20  230  (64) (215) (52) 270  (186) (72) 11  75  (48) (22) 15  46  44 
Accounts payable 3,207  (1,160) (679) (1,997) 3,199  (988) 300  (1,113) 3,521  (2,343) 220  (1,260) 3,291  (1,206) 136  (1,446) 3,169  (1,694) 213  (888) 2,893  (1,325) 272  (861) 2,041 
Other operating liabilities 716  (246) (444) (224) 260  (87) (33) (47) 604  (181) (262) 139  441  32  (277) (111) 435  (20) (253) 102  241  (179) (31) 129  269 
Changes in operating assets and liabilities 2,534  (1,145) (1,091) (739) 708  (1,350) (168) 231  2,045  (1,468) (955) 67  1,860  (849) (601) (41) 1,862  (832) (761) 172  1,399  (715) (203) 516  970 
Adjustments to reconcile net earnings to net cash provided by operating activities 3,113  (325) (521) (230) 1,091  219  382  837  2,441  (861) (574) 360  2,693  (315) 262  241  2,336  227  (354) 560  1,805  (205) 176  890  1,370 
Net cash provided by operating activities 4,450  185  528  1,446  2,137  (605) 1,011  2,358  3,429  (307) 298  1,779  3,295  348  641  1,408  3,220  238  382  1,686  2,478  245  761  1,929  1,994 
Purchases of investments (70) (180) (318) (242) (3) (75) (318) (407) (573) (301) (56) (471) (153) (174) (343) (365) (310) (284) (162) (423) (65) (220) (300) (137) (163)
Proceeds from sale/maturity of investments 107  139  284  218  54  84  297  456  556  244  81  730  59  267  556  167  264  296  222  302  64  347  165  136  157 
Capital expenditures (328) (557) (401) (321) (205) (328) (303) (319) (224) (336) (311) (274) (202) (347) (330) (282) (208) (353) (274) (338) (232) (293) (203) (190) (194)
Contributions to equity method investments, net —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  (19) (67) (28) (11) (45) (45) (60) (91)
Proceeds from sale of property and other long-term assets 25  92  29  18  24  26  20  25  24  11  11  11  31  17  20  16 
Purchases of derivative instruments —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  (103) —  —  —  —  —  —  —  — 
Proceeds from settlement of derivative instruments —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  179  —  —  —  —  —  —  —  —  — 
Acquisition of business, net —  —  —  —  —  —  —  —  —  —  (4) (505) —  (72) —  (2,284) —  —  —  —  —  —  —  —  — 
Other, net (22) —  —  (1) (4) —  —  11  (1) (12) (6) (3) (3) —  (25) —  (2) (5)
Net cash used in investing activities (288) (506) (405) (327) (131) (292) (308) (244) (236) (369) (276) (505) (291) (309) (118) (2,585) (349) (357) (250) (495) (241) (201) (362) (245) (280)
Net change in commercial paper (941) 305  637  —  (722) 722  —  (1,140) 965  171  —  (511) 510  —  —  (44) 43  —  —  —  —  —  —  (386)
Net proceeds from issuance of debt 3,961  1,000  —  —  2,972  —  —  —  —  —  —  —  2,968  —  —  —  3,267  —  1,718  —  —  —  1,239  —  — 
Repayment of debt (543) (21) (463) (13) (616) (38) (264) (11) (13) (13) (262) (16) (2,558) (27) (651) (11) (484) (11) (510) (21) (10) (12) (11) (13) (12)
Proceeds from issuance of common stock under share-based payment plans 40  40  32  41  23  42  52  42  38  51  62  20  56  41  21  47  22  44  24 
Cash dividend payments (420) (423) (428) (382) (385) (387) (390) (338) (340) (341) (344) (299) (304) (306) (309) (251) (255) (257) (260) (218) (222) (225) (228) (183) (186)
Repurchase of common stock (966) (664) (879) (1,944) (826) (539) (652) (1,118) (728) (138) (551) (1,266) (1,237) (541) (600) (1,201) (1,253) (543) (753) (1,520) (1,109) (955) (899) (1,141) (910)
Other, net (3) —  (9) (2) (1) —  (2) (2) (8) (1) (123) 33  (4) —  50  (11) 23 
Net cash provided by (used in) financing activities 1,092  243  (1,127) (2,297) 446  (203) (1,284) (1,422) (2,215) 523  (978) (1,547) (1,605) (436) (1,546) (1,394) 1,284  (703) 198  (1,718) (1,270) (1,137) 127  (1,304) (1,447)
Effect of exchange rate changes on cash (15) —  (2) (3) (2) (6) (1) (2) (5) (5) (2) —  (4) (6) (3) (3) — 
Net increase (decrease) in cash and cash equivalents, including cash classified within current assets held for sale 5,239  (78) (1,002) (1,177) 2,450  (1,103) (583) 686  977  (155) (953) (267) 1,405  (402) (1,028) (2,573) 4,156  (822) 326  (533) 968  (1,096) 523  381  267 
Net (increase) decrease in cash classified within current assets held for sale —  —  —  —  12  (54) —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Net increase (decrease) in cash and cash equivalents 5,239  (78) (1,002) (1,177) 2,462  (1,157) (583) 686  977  (155) (953) (267) 1,405  (402) (1,028) (2,573) 4,156  (822) 326  (533) 968  (1,096) 523  381  267 

Based on: 10-Q (filing date: 2020-05-28), 10-K (filing date: 2020-03-23), 10-Q (filing date: 2019-12-04), 10-Q (filing date: 2019-09-03), 10-Q (filing date: 2019-06-03), 10-K (filing date: 2019-04-02), 10-Q (filing date: 2018-12-06), 10-Q (filing date: 2018-09-04), 10-Q (filing date: 2018-06-05), 10-K (filing date: 2018-04-02), 10-Q (filing date: 2017-12-05), 10-Q (filing date: 2017-09-05), 10-Q (filing date: 2017-06-06), 10-K (filing date: 2017-04-04), 10-Q (filing date: 2016-11-29), 10-Q (filing date: 2016-09-02), 10-Q (filing date: 2016-05-31), 10-K (filing date: 2016-03-29), 10-Q (filing date: 2015-12-02), 10-Q (filing date: 2015-09-01), 10-Q (filing date: 2015-06-02), 10-K (filing date: 2015-03-31), 10-Q (filing date: 2014-12-02), 10-Q (filing date: 2014-09-02), 10-Q (filing date: 2014-06-03).

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.’s net cash provided by operating activities decreased from Q3 2020 to Q4 2020 but then increased from Q4 2020 to Q1 2021 exceeding Q3 2020 level.
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.’s net cash used in investing activities decreased from Q3 2020 to Q4 2020 but then increased from Q4 2020 to Q1 2021 exceeding Q3 2020 level.
Net cash provided by (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.’s net cash provided by (used in) financing activities increased from Q3 2020 to Q4 2020 and from Q4 2020 to Q1 2021.