Delaware | 1-8207 | 95-3261426 | ||
(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
Exhibit | Description | |
99.1 | Press Release of The Home Depot, Inc. |
THE HOME DEPOT, INC. | ||
By: | /s/ Carol B. Tomé | |
Name: | Carol B. Tomé | |
Title: | Chief Financial Officer and Executive Vice President – Corporate Services |
Exhibit | Description | |
99.1 | Press Release of The Home Depot, Inc. |
For more information, contact: | ||
Financial Community | News Media | |
Diane Dayhoff | Stephen Holmes | |
Vice President of Investor Relations | Director of Corporate Communications | |
770-384-2666 | 770-384-5075 | |
diane_dayhoff@homedepot.com | stephen_holmes@homedepot.com | |
Three Months Ended | Nine Months Ended | ||||||||||||||||||||
October 30, 2016 | November 1, 2015 | % Increase (Decrease) | October 30, 2016 | November 1, 2015 | % Increase (Decrease) | ||||||||||||||||
NET SALES | $ | 23,154 | $ | 21,819 | 6.1 | % | $ | 72,388 | $ | 67,539 | 7.2 | % | |||||||||
Cost of Sales | 15,112 | 14,254 | 6.0 | 47,628 | 44,430 | 7.2 | |||||||||||||||
GROSS PROFIT | 8,042 | 7,565 | 6.3 | 24,760 | 23,109 | 7.1 | |||||||||||||||
Operating Expenses: | |||||||||||||||||||||
Selling, General and Administrative | 4,280 | 4,161 | 2.9 | 12,949 | 12,623 | 2.6 | |||||||||||||||
Depreciation and Amortization | 442 | 423 | 4.5 | 1,311 | 1,261 | 4.0 | |||||||||||||||
Total Operating Expenses | 4,722 | 4,584 | 3.0 | 14,260 | 13,884 | 2.7 | |||||||||||||||
OPERATING INCOME | 3,320 | 2,981 | 11.4 | 10,500 | 9,225 | 13.8 | |||||||||||||||
Interest and Other (Income) Expense: | |||||||||||||||||||||
Interest and Investment Income | (10 | ) | (7 | ) | 42.9 | (25 | ) | (160 | ) | (84.4 | ) | ||||||||||
Interest Expense | 246 | 247 | (0.4 | ) | 726 | 677 | 7.2 | ||||||||||||||
Interest and Other, net | 236 | 240 | (1.7 | ) | 701 | 517 | 35.6 | ||||||||||||||
EARNINGS BEFORE PROVISION FOR INCOME TAXES | 3,084 | 2,741 | 12.5 | 9,799 | 8,708 | 12.5 | |||||||||||||||
Provision for Income Taxes | 1,115 | 1,016 | 9.7 | 3,586 | 3,170 | 13.1 | |||||||||||||||
NET EARNINGS | $ | 1,969 | $ | 1,725 | 14.1 | % | $ | 6,213 | $ | 5,538 | 12.2 | % | |||||||||
Weighted Average Common Shares | 1,224 | 1,268 | (3.5 | )% | 1,236 | 1,284 | (3.7 | )% | |||||||||||||
BASIC EARNINGS PER SHARE | $ | 1.61 | $ | 1.36 | 18.4 | $ | 5.03 | $ | 4.31 | 16.7 | |||||||||||
Diluted Weighted Average Common Shares | 1,229 | 1,274 | (3.5 | )% | 1,242 | 1,290 | (3.7 | )% | |||||||||||||
DILUTED EARNINGS PER SHARE | $ | 1.60 | $ | 1.35 | 18.5 | $ | 5.00 | $ | 4.29 | 16.6 | |||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||
SELECTED SALES DATA(1) | October 30, 2016 | November 1, 2015 | % Increase (Decrease) | October 30, 2016 | November 1, 2015 | % Increase (Decrease) | |||||||||||||||
Number of Customer Transactions | 380.0 | 371.1 | 2.4 | % | 1,184.8 | 1,151.7 | 2.9 | % | |||||||||||||
Average Ticket (actual) | $ | 59.78 | $ | 58.03 | 3.0 | $ | 60.26 | $ | 58.72 | 2.6 | |||||||||||
Sales per Square Foot (actual) | $ | 382.18 | $ | 366.37 | 4.3 | $ | 399.12 | $ | 380.12 | 5.0 |
(1) | Selected Sales Data does not include results for the Interline acquisition that was completed in the third quarter of fiscal 2015. |
October 30, 2016 | November 1, 2015 (1) | January 31, 2016 (1) | |||||||||
ASSETS | |||||||||||
Cash and Cash Equivalents | $ | 3,589 | $ | 3,040 | $ | 2,216 | |||||
Receivables, net | 1,995 | 1,942 | 1,890 | ||||||||
Merchandise Inventories | 13,241 | 12,495 | 11,809 | ||||||||
Other Current Assets | 523 | 527 | 569 | ||||||||
Total Current Assets | 19,348 | 18,004 | 16,484 | ||||||||
Property and Equipment, net | 21,840 | 22,194 | 22,191 | ||||||||
Goodwill | 2,095 | 2,111 | 2,102 | ||||||||
Other Assets | 1,219 | 1,167 | 1,196 | ||||||||
TOTAL ASSETS | $ | 44,502 | $ | 43,476 | $ | 41,973 | |||||
LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||||||
Short-Term Debt | $ | — | $ | — | $ | 350 | |||||
Accounts Payable | 8,054 | 7,236 | 6,565 | ||||||||
Accrued Salaries and Related Expenses | 1,398 | 1,354 | 1,515 | ||||||||
Current Installments of Long-Term Debt | 543 | 3,047 | 77 | ||||||||
Other Current Liabilities | 4,436 | 4,338 | 4,017 | ||||||||
Total Current Liabilities | 14,431 | 15,975 | 12,524 | ||||||||
Long-Term Debt, excluding current installments | 22,338 | 17,713 | 20,789 | ||||||||
Other Long-Term Liabilities | 2,111 | 2,169 | 2,344 | ||||||||
Total Liabilities | 38,880 | 35,857 | 35,657 | ||||||||
Total Stockholders' Equity | 5,622 | 7,619 | 6,316 | ||||||||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 44,502 | $ | 43,476 | $ | 41,973 |
(1) | The Consolidated Balance Sheets as of November 1, 2015 and January 31, 2016 were retrospectively adjusted to reflect the adoption of Accounting Standards Update ("ASU") No. 2015-03, “Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs” and ASU No. 2015-17, “Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes” in the first quarter of fiscal 2016. |
Nine Months Ended | |||||||
October 30, 2016 | November 1, 2015 | ||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||
Net Earnings | $ | 6,213 | $ | 5,538 | |||
Reconciliation of Net Earnings to Net Cash Provided by Operating Activities: | |||||||
Depreciation and Amortization | 1,474 | 1,384 | |||||
Stock-Based Compensation Expense | 199 | 177 | |||||
Gain on Sales of Investments | — | (144 | ) | ||||
Changes in Working Capital and Other | 33 | 411 | |||||
Net Cash Provided by Operating Activities | 7,919 | 7,366 | |||||
CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||
Capital Expenditures | (1,145 | ) | (1,083 | ) | |||
Proceeds from Sales of Investments | — | 144 | |||||
Payments for Businesses Acquired, net | — | (1,662 | ) | ||||
Proceeds from Sales of Property and Equipment | 30 | 24 | |||||
Net Cash Used in Investing Activities | (1,115 | ) | (2,577 | ) | |||
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||
Repayments of Short-Term Borrowings, net | (350 | ) | (290 | ) | |||
Proceeds from Long-Term Borrowings, net of discounts | 4,959 | 3,991 | |||||
Repayments of Long-Term Debt | (3,034 | ) | (29 | ) | |||
Repurchases of Common Stock | (4,535 | ) | (5,043 | ) | |||
Proceeds from Sales of Common Stock | 136 | 149 | |||||
Cash Dividends Paid to Stockholders | (2,567 | ) | (2,287 | ) | |||
Other Financing Activities | (33 | ) | 86 | ||||
Net Cash Used in Financing Activities | (5,424 | ) | (3,423 | ) | |||
Change in Cash and Cash Equivalents | 1,380 | 1,366 | |||||
Effect of Exchange Rate Changes on Cash and Cash Equivalents | (7 | ) | (49 | ) | |||
Cash and Cash Equivalents at Beginning of Period | 2,216 | 1,723 | |||||
Cash and Cash Equivalents at End of Period | $ | 3,589 | $ | 3,040 |
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