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 | Six Months Ended | ||||||||||||||||||||
amounts in millions, except per share data | July 30, 2017 | July 31, 2016 | % Increase (Decrease) | July 30, 2017 | July 31, 2016 | % Increase (Decrease) | |||||||||||||||
NET SALES | $ | 28,108 | $ | 26,472 | 6.2 | % | $ | 51,995 | $ | 49,234 | 5.6 | % | |||||||||
Cost of Sales | 18,647 | 17,545 | 6.3 | 34,380 | 32,516 | 5.7 | |||||||||||||||
GROSS PROFIT | 9,461 | 8,927 | 6.0 | 17,615 | 16,718 | 5.4 | |||||||||||||||
Operating Expenses: | |||||||||||||||||||||
Selling, General and Administrative | 4,549 | 4,388 | 3.7 | 8,910 | 8,669 | 2.8 | |||||||||||||||
Depreciation and Amortization | 449 | 436 | 3.0 | 893 | 869 | 2.8 | |||||||||||||||
Total Operating Expenses | 4,998 | 4,824 | 3.6 | 9,803 | 9,538 | 2.8 | |||||||||||||||
OPERATING INCOME | 4,463 | 4,103 | 8.8 | 7,812 | 7,180 | 8.8 | |||||||||||||||
Interest and Other (Income) Expense: | |||||||||||||||||||||
Interest and Investment Income | (16 | ) | (8 | ) | 100.0 | (29 | ) | (15 | ) | 93.3 | |||||||||||
Interest Expense | 265 | 236 | 12.3 | 519 | 480 | 8.1 | |||||||||||||||
Interest and Other, net | 249 | 228 | 9.2 | 490 | 465 | 5.4 | |||||||||||||||
EARNINGS BEFORE PROVISION FOR INCOME TAXES | 4,214 | 3,875 | 8.7 | 7,322 | 6,715 | 9.0 | |||||||||||||||
Provision for Income Taxes | 1,542 | 1,434 | 7.5 | 2,636 | 2,471 | 6.7 | |||||||||||||||
NET EARNINGS | $ | 2,672 | $ | 2,441 | 9.5 | % | $ | 4,686 | $ | 4,244 | 10.4 | % | |||||||||
Basic Weighted Average Common Shares | 1,183 | 1,235 | (4.2 | )% | 1,191 | 1,242 | (4.1 | )% | |||||||||||||
BASIC EARNINGS PER SHARE | $ | 2.26 | $ | 1.98 | 14.1 | $ | 3.93 | $ | 3.42 | 14.9 | |||||||||||
Diluted Weighted Average Common Shares | 1,189 | 1,240 | (4.1 | )% | 1,197 | 1,247 | (4.0 | )% | |||||||||||||
DILUTED EARNINGS PER SHARE | $ | 2.25 | $ | 1.97 | 14.2 | $ | 3.91 | $ | 3.40 | 15.0 | |||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||||||
SELECTED SALES DATA(1) | July 30, 2017 | July 31, 2016 | % Increase (Decrease) | July 30, 2017 | July 31, 2016 | % Increase (Decrease) | |||||||||||||||
Number of Customer Transactions | 441.8 | 430.0 | 2.8 | % | 822.6 | 804.8 | 2.2 | % | |||||||||||||
Average Ticket (actual) | $ | 63.05 | $ | 60.87 | 3.6 | $ | 62.74 | $ | 60.48 | 3.7 | |||||||||||
Sales per Square Foot (actual) | $ | 464.38 | $ | 438.61 | 5.9 | $ | 429.17 | $ | 407.64 | 5.3 |
(1) | Selected Sales Data does not include results for Interline Brands, Inc., which was acquired in the third quarter of fiscal 2015. |
amounts in millions | July 30, 2017 | July 31, 2016 | January 29, 2017 | ||||||||
ASSETS | |||||||||||
Cash and Cash Equivalents | $ | 4,830 | $ | 4,018 | $ | 2,538 | |||||
Receivables, net | 2,187 | 1,995 | 2,029 | ||||||||
Merchandise Inventories | 12,868 | 12,323 | 12,549 | ||||||||
Other Current Assets | 626 | 605 | 608 | ||||||||
Total Current Assets | 20,511 | 18,941 | 17,724 | ||||||||
Net Property and Equipment | 22,035 | 21,975 | 21,914 | ||||||||
Goodwill | 2,235 | 2,106 | 2,093 | ||||||||
Other Assets | 1,178 | 1,225 | 1,235 | ||||||||
TOTAL ASSETS | $ | 45,959 | $ | 44,247 | $ | 42,966 | |||||
LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||||||
Short-Term Debt | $ | — | $ | — | $ | 710 | |||||
Accounts Payable | 8,541 | 8,273 | 7,000 | ||||||||
Accrued Salaries and Related Expenses | 1,503 | 1,453 | 1,484 | ||||||||
Current Installments of Long-Term Debt | 545 | 43 | 542 | ||||||||
Other Current Liabilities | 5,234 | 4,756 | 4,397 | ||||||||
Total Current Liabilities | 15,823 | 14,525 | 14,133 | ||||||||
Long-Term Debt, excluding current installments | 24,422 | 20,900 | 22,349 | ||||||||
Other Liabilities | 2,160 | 2,165 | 2,151 | ||||||||
Total Liabilities | 42,405 | 37,590 | 38,633 | ||||||||
Total Stockholders' Equity | 3,554 | 6,657 | 4,333 | ||||||||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 45,959 | $ | 44,247 | $ | 42,966 |
Six Months Ended | |||||||
amounts in millions | July 30, 2017 | July 31, 2016 | |||||
CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||
Net Earnings | $ | 4,686 | $ | 4,244 | |||
Reconciliation of Net Earnings to Net Cash Provided by Operating Activities: | |||||||
Depreciation and Amortization | 1,015 | 978 | |||||
Stock-Based Compensation Expense | 148 | 133 | |||||
Changes in Working Capital and Other, net of the effects of acquisitions | 2,013 | 1,522 | |||||
Net Cash Provided by Operating Activities | 7,862 | 6,877 | |||||
CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||
Capital Expenditures | (846 | ) | (697 | ) | |||
Payments for Business Acquired, net | (268 | ) | — | ||||
Proceeds from Sales of Property and Equipment | 23 | 23 | |||||
Net Cash Used in Investing Activities | (1,091 | ) | (674 | ) | |||
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||
Repayments of Short-Term Debt, net | (710 | ) | (350 | ) | |||
Proceeds from Long-Term Debt, net of discounts | 1,994 | 2,989 | |||||
Repayments of Long-Term Debt | (21 | ) | (3,023 | ) | |||
Repurchases of Common Stock | (3,921 | ) | (2,441 | ) | |||
Proceeds from Sales of Common Stock | 137 | 121 | |||||
Cash Dividends Paid to Stockholders | (2,130 | ) | (1,718 | ) | |||
Other Financing Activities | 2 | 1 | |||||
Net Cash Used in Financing Activities | (4,649 | ) | (4,421 | ) | |||
Change in Cash and Cash Equivalents | 2,122 | 1,782 | |||||
Effect of Exchange Rate Changes on Cash and Cash Equivalents | 170 | 20 | |||||
Cash and Cash Equivalents at Beginning of Period | 2,538 | 2,216 | |||||
Cash and Cash Equivalents at End of Period | $ | 4,830 | $ | 4,018 |
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