LOWES COMPANIES INC
For the period ended Feb 2, 2024. Filed Mar 25, 2024.
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FY2024 · Filed Mar 25, 2024
LOW$231.87-0.1%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
(In millions)
| Fiscal Years Ended | |||
|---|---|---|---|
| February 2, 2024 | February 3, 2023 | January 28, 2022 | |
| Cash flows from operating activities: | |||
| Net earnings | $7,726 | $6,437 | $8,442 |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||
| Depreciation and amortization | 1,923 | 1,981 | 1,882 |
| Noncash lease expense | 499 | 530 | 517 |
| Deferred income taxes | 6 | (239) | 135 |
| Asset impairment and loss on property - net | 83 | 2,118 | 34 |
| (Gain)/loss on sale of business | (79) | 421 | — |
| Share-based payment expense | 210 | 223 | 230 |
| Changes in operating assets and liabilities: | |||
| Merchandise inventory – net | 1,637 | (2,594) | (1,413) |
| Other operating assets | 182 | 56 | (23) |
| Accounts payable | (1,820) | (549) | 466 |
| Deferred revenue | (170) | (183) | 413 |
| Other operating liabilities | (2,057) | 388 | (570) |
| Net cash provided by operating activities | 8,140 | 8,589 | 10,113 |
| Cash flows from investing activities: | |||
| Purchases of investments | (1,785) | (1,189) | (3,065) |
| Proceeds from sale/maturity of investments | 1,722 | 1,174 | 3,293 |
| Capital expenditures | (1,964) | (1,829) | (1,853) |
| Proceeds from sale of property and other long-term assets | 53 | 45 | 113 |
| Proceeds from sale of business | 100 | 491 | — |
| Other – net | (27) | (1) | (134) |
| Net cash used in investing activities | (1,901) | (1,309) | (1,646) |
| Cash flows from financing activities: | |||
| Net change in commercial paper | (499) | 499 | — |
| Net proceeds from issuance of debt | 2,983 | 9,667 | 4,972 |
| Repayment of debt | (601) | (867) | (2,118) |
| Proceeds from issuance of common stock under share-based payment plans | 141 | 151 | 132 |
| Cash dividend payments | (2,531) | (2,370) | (1,984) |
| Repurchases of common stock | (6,138) | (14,124) | (13,012) |
| Other – net | (21) | (5) | (6) |
| Net cash used in financing activities | (6,666) | (7,049) | (12,016) |
| Effect of exchange rate changes on cash | — | (16) | (8) |
| Net (decrease)/increase in cash and cash equivalents | (427) | 215 | (3,557) |
| Cash and cash equivalents, beginning of year | 1,348 | 1,133 | 4,690 |
| Cash and cash equivalents, end of year | $921 | $1,348 | $1,133 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.