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 | Paula Drake | |
Vice President of Investor Relations | Senior Manager of Corporate Communications | |
770-384-2666 | 770-384-3439 | |
diane_dayhoff@homedepot.com | paula_drake@homedepot.com |
Three Months Ended | Six Months Ended | ||||||||||||||||||||
July 29, 2012 | July 31, 2011 | % Increase (Decrease) | July 29, 2012 | July 31, 2011 | % Increase (Decrease) | ||||||||||||||||
NET SALES | $ | 20,570 | $ | 20,232 | 1.7 | % | $ | 38,378 | $ | 37,055 | 3.6 | % | |||||||||
Cost of Sales | 13,544 | 13,356 | 1.4 | 25,169 | 24,351 | 3.4 | |||||||||||||||
GROSS PROFIT | 7,026 | 6,876 | 2.2 | 13,209 | 12,704 | 4.0 | |||||||||||||||
Operating Expenses: | |||||||||||||||||||||
Selling, General and Administrative | 4,066 | 4,186 | (2.9 | ) | 8,152 | 8,195 | (0.5 | ) | |||||||||||||
Depreciation and Amortization | 391 | 396 | (1.3 | ) | 774 | 793 | (2.4 | ) | |||||||||||||
Total Operating Expenses | 4,457 | 4,582 | (2.7 | ) | 8,926 | 8,988 | (0.7 | ) | |||||||||||||
OPERATING INCOME | 2,569 | 2,294 | 12.0 | 4,283 | 3,716 | 15.3 | |||||||||||||||
Interest and Other (Income) Expense: | |||||||||||||||||||||
Interest and Investment Income | (4 | ) | (3 | ) | 33.3 | (9 | ) | (5 | ) | 80.0 | |||||||||||
Interest Expense | 155 | 149 | 4.0 | 311 | 290 | 7.2 | |||||||||||||||
Other | — | — | — | (67 | ) | — | N/A | ||||||||||||||
Interest and Other, net | 151 | 146 | 3.4 | 235 | 285 | (17.5 | ) | ||||||||||||||
EARNINGS BEFORE PROVISION FOR INCOME TAXES | 2,418 | 2,148 | 12.6 | 4,048 | 3,431 | 18.0 | |||||||||||||||
Provision for Income Taxes | 886 | 785 | 12.9 | 1,481 | 1,256 | 17.9 | |||||||||||||||
NET EARNINGS | $ | 1,532 | $ | 1,363 | 12.4 | % | $ | 2,567 | $ | 2,175 | 18.0 | % | |||||||||
Weighted Average Common Shares | 1,501 | 1,568 | (4.3 | )% | 1,513 | 1,585 | (4.5 | )% | |||||||||||||
BASIC EARNINGS PER SHARE | $ | 1.02 | $ | 0.87 | 17.2 | $ | 1.70 | $ | 1.37 | 24.1 | |||||||||||
Diluted Weighted Average Common Shares | 1,512 | 1,577 | (4.1 | )% | 1,525 | 1,595 | (4.4 | )% | |||||||||||||
DILUTED EARNINGS PER SHARE | $ | 1.01 | $ | 0.86 | 17.4 | $ | 1.68 | $ | 1.36 | 23.5 | |||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||||||
SELECTED HIGHLIGHTS | July 29, 2012 | July 31, 2011 | % Increase (Decrease) | July 29, 2012 | July 31, 2011 | % Increase(Decrease) | |||||||||||||||
Number of Customer Transactions | 374.9 | 372.7 | 0.6 | % | 703.9 | 689.2 | 2.1 | % | |||||||||||||
Average Ticket (actual) | $ | 55.02 | $ | 54.04 | 1.8 | $ | 54.78 | $ | 53.72 | 2.0 | |||||||||||
Weighted Average Weekly Sales per Operating Store (in thousands) | $ | 704 | $ | 690 | 2.0 | $ | 658 | $ | 634 | 3.8 | |||||||||||
Square Footage at End of Period | 236 | 235 | 0.4 | 236 | 235 | 0.4 | |||||||||||||||
Capital Expenditures | $ | 323 | $ | 270 | 19.6 | $ | 551 | $ | 469 | 17.5 | |||||||||||
Depreciation and Amortization (1) | $ | 423 | $ | 425 | (0.5 | )% | $ | 833 | $ | 849 | (1.9 | )% |
(1) | Includes depreciation of distribution centers and tool rental equipment included in Cost of Sales and amortization of deferred financing costs included in Interest Expense. |
July 29, 2012 | July 31, 2011 | January 29, 2012 | |||||||||
ASSETS | |||||||||||
Cash and Cash Equivalents | $ | 2,810 | $ | 2,551 | $ | 1,987 | |||||
Receivables, net | 1,505 | 1,332 | 1,245 | ||||||||
Merchandise Inventories | 10,910 | 10,756 | 10,325 | ||||||||
Other Current Assets | 1,006 | 1,218 | 963 | ||||||||
Total Current Assets | 16,231 | 15,857 | 14,520 | ||||||||
Property and Equipment, net | 24,154 | 24,798 | 24,448 | ||||||||
Goodwill | 1,157 | 1,177 | 1,120 | ||||||||
Other Assets | 441 | 445 | 430 | ||||||||
TOTAL ASSETS | $ | 41,983 | $ | 42,277 | $ | 40,518 | |||||
LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||||||
Accounts Payable | $ | 6,137 | $ | 5,890 | $ | 4,856 | |||||
Accrued Salaries and Related Expenses | 1,370 | 1,262 | 1,372 | ||||||||
Current Installments of Long-Term Debt | 34 | 44 | 30 | ||||||||
Other Current Liabilities | 3,693 | 3,751 | 3,118 | ||||||||
Total Current Liabilities | 11,234 | 10,947 | 9,376 | ||||||||
Long-Term Debt | 10,771 | 10,731 | 10,758 | ||||||||
Other Long-Term Liabilities | 2,344 | 2,366 | 2,486 | ||||||||
Total Liabilities | 24,349 | 24,044 | 22,620 | ||||||||
Total Stockholders' Equity | 17,634 | 18,233 | 17,898 | ||||||||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 41,983 | $ | 42,277 | $ | 40,518 |
Six Months Ended | |||||||
July 29, 2012 | July 31, 2011 | ||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||
Net Earnings | $ | 2,567 | $ | 2,175 | |||
Reconciliation of Net Earnings to Net Cash Provided by Operating Activities: | |||||||
Depreciation and Amortization | 833 | 849 | |||||
Stock-Based Compensation Expense | 107 | 108 | |||||
Changes in Working Capital and Other | 754 | 1,355 | |||||
Net Cash Provided by Operating Activities | 4,261 | 4,487 | |||||
CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||
Capital Expenditures | (551 | ) | (469 | ) | |||
Payment for Business Acquired, net | (45 | ) | — | ||||
Proceeds from Sales of Property and Equipment | 15 | 27 | |||||
Net Cash Used in Investing Activities | (581 | ) | (442 | ) | |||
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||
Proceeds from Long-Term Borrowings, net of discount | — | 1,994 | |||||
Repayments of Long-Term Debt | (16 | ) | (1,014 | ) | |||
Repurchases of Common Stock | (2,630 | ) | (2,251 | ) | |||
Proceeds from Sales of Common Stock | 553 | 83 | |||||
Cash Dividends Paid to Stockholders | (880 | ) | (798 | ) | |||
Other | 122 | (54 | ) | ||||
Net Cash Used in Financing Activities | (2,851 | ) | (2,040 | ) | |||
Change in Cash and Cash Equivalents | 829 | 2,005 | |||||
Effect of Exchange Rate Changes on Cash and Cash Equivalents | (6 | ) | 1 | ||||
Cash and Cash Equivalents at the Beginning of the Period | 1,987 | 545 | |||||
Cash and Cash Equivalents at the End of the Period | $ | 2,810 | $ | 2,551 |
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