LOWES COMPANIES INC
For the period ended Jan 31, 2025. Filed Mar 24, 2025.
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FY2025 · Filed Mar 24, 2025
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 | |||
|---|---|---|---|
| January 31, 2025 | February 2, 2024 | February 3, 2023 | |
| Cash flows from operating activities: | |||
| Net earnings | $6,957 | $7,726 | $6,437 |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||
| Depreciation and amortization | 1,972 | 1,923 | 1,981 |
| Noncash lease expense | 520 | 499 | 530 |
| Deferred income taxes | 9 | 6 | (239) |
| Asset impairment and loss on property - net | 5 | 83 | 2,118 |
| (Gain)/loss on sale of business | (177) | (79) | 421 |
| Share-based payment expense | 221 | 210 | 223 |
| Changes in operating assets and liabilities: | |||
| Merchandise inventory – net | (514) | 1,637 | (2,594) |
| Other operating assets | 93 | 182 | 56 |
| Accounts payable | 633 | (1,820) | (549) |
| Other operating liabilities | (94) | (2,227) | 205 |
| Net cash provided by operating activities | 9,625 | 8,140 | 8,589 |
| Cash flows from investing activities: | |||
| Purchases of investments | (1,286) | (1,785) | (1,189) |
| Proceeds from sale/maturity of investments | 1,204 | 1,722 | 1,174 |
| Capital expenditures | (1,927) | (1,964) | (1,829) |
| Proceeds from sale of property and other long-term assets | 105 | 53 | 45 |
| Proceeds from sale of business | 177 | 100 | 491 |
| Other – net | (11) | (27) | (1) |
| Net cash used in investing activities | (1,738) | (1,901) | (1,309) |
| Cash flows from financing activities: | |||
| Net change in commercial paper | — | (499) | 499 |
| Net proceeds from issuance of debt | — | 2,983 | 9,667 |
| Repayment of debt | (545) | (601) | (867) |
| Proceeds from issuance of common stock under share-based payment plans | 159 | 141 | 151 |
| Cash dividend payments | (2,566) | (2,531) | (2,370) |
| Repurchases of common stock | (4,053) | (6,138) | (14,124) |
| Other – net | (42) | (21) | (5) |
| Net cash used in financing activities | (7,047) | (6,666) | (7,049) |
| Effect of exchange rate changes on cash | — | — | (16) |
| Net increase/(decrease) in cash and cash equivalents | 840 | (427) | 215 |
| Cash and cash equivalents, beginning of year | 921 | 1,348 | 1,133 |
| Cash and cash equivalents, end of year | $1,761 | $921 | $1,348 |
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