(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
Securities registered pursuant to Section 12(b) of the Act: | ||||||||||||||
Title of each class | Trading symbol | Name of each exchange on which registered | ||||||||||||
Exhibit | Description | |||||||
104 | The cover page of this Current Report on Form 8-K formatted in Inline XBRL (included as Exhibit 101). |
THE HOME DEPOT, INC. | ||||||||
By: | /s/ Richard V. McPhail | |||||||
Name: | Richard V. McPhail | |||||||
Title: | Executive Vice President and Chief Financial Officer |
Financial Community | News Media | |||||||
Isabel Janci | Margaret Smith | |||||||
Vice President of Investor Relations and Treasurer | Senior Manager of Corporate Communications | |||||||
770-384-2666 | 470-564-0284 | |||||||
isabel_janci@homedepot.com | margaret_w_smith@homedepot.com |
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||||
in millions, except per share data | October 31, 2021 | November 1, 2020 | % Change | October 31, 2021 | November 1, 2020 | % Change | |||||||||||||||||||||||||||||
Net sales | $ | 36,820 | $ | 33,536 | 9.8 | % | $ | 115,438 | $ | 99,849 | 15.6 | % | |||||||||||||||||||||||
Cost of sales | 24,257 | 22,080 | 9.9 | 76,468 | 65,827 | 16.2 | |||||||||||||||||||||||||||||
Gross profit | 12,563 | 11,456 | 9.7 | 38,970 | 34,022 | 14.5 | |||||||||||||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||||||||||||||
Selling, general and administrative | 6,168 | 6,076 | 1.5 | 18,975 | 18,260 | 3.9 | |||||||||||||||||||||||||||||
Depreciation and amortization | 600 | 528 | 13.6 | 1,780 | 1,567 | 13.6 | |||||||||||||||||||||||||||||
Total operating expenses | 6,768 | 6,604 | 2.5 | 20,755 | 19,827 | 4.7 | |||||||||||||||||||||||||||||
Operating income | 5,795 | 4,852 | 19.4 | 18,215 | 14,195 | 28.3 | |||||||||||||||||||||||||||||
Interest and other (income) expense: | |||||||||||||||||||||||||||||||||||
Interest and investment income | (15) | (11) | 36.4 | (26) | (37) | (29.7) | |||||||||||||||||||||||||||||
Interest expense | 341 | 340 | 0.3 | 1,006 | 1,010 | (0.4) | |||||||||||||||||||||||||||||
Interest and other, net | 326 | 329 | (0.9) | 980 | 973 | 0.7 | |||||||||||||||||||||||||||||
Earnings before provision for income taxes | 5,469 | 4,523 | 20.9 | 17,235 | 13,222 | 30.4 | |||||||||||||||||||||||||||||
Provision for income taxes | 1,340 | 1,091 | 22.8 | 4,154 | 3,213 | 29.3 | |||||||||||||||||||||||||||||
Net earnings | $ | 4,129 | $ | 3,432 | 20.3 | % | $ | 13,081 | $ | 10,009 | 30.7 | % | |||||||||||||||||||||||
Basic weighted average common shares | 1,049 | 1,073 | (2.2) | % | 1,059 | 1,074 | (1.4) | % | |||||||||||||||||||||||||||
Basic earnings per share | $ | 3.94 | $ | 3.20 | 23.1 | $ | 12.35 | $ | 9.32 | 32.5 | |||||||||||||||||||||||||
Diluted weighted average common shares | 1,053 | 1,078 | (2.3) | % | 1,063 | 1,078 | (1.4) | % | |||||||||||||||||||||||||||
Diluted earnings per share | $ | 3.92 | $ | 3.18 | 23.3 | $ | 12.31 | $ | 9.28 | 32.7 | |||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||||
Selected Sales Data (1) | October 31, 2021 | November 1, 2020 | % Change | October 31, 2021 | November 1, 2020 | % Change | |||||||||||||||||||||||||||||
Customer transactions (in millions) | 428.2 | 453.2 | (5.5) | % | 1,357.2 | 1,339.5 | 1.3 | % | |||||||||||||||||||||||||||
Average ticket | $ | 82.38 | $ | 72.98 | 12.9 | $ | 82.43 | $ | 73.90 | 11.5 | |||||||||||||||||||||||||
Sales per retail square foot | $ | 587.28 | $ | 552.85 | 6.2 | $ | 615.98 | $ | 549.26 | 12.1 |
in millions | October 31, 2021 | November 1, 2020 | January 31, 2021 | ||||||||||||||
Assets | |||||||||||||||||
Current assets: | |||||||||||||||||
Cash and cash equivalents | $ | 5,067 | $ | 14,652 | $ | 7,895 | |||||||||||
Receivables, net | 3,533 | 2,666 | 2,992 | ||||||||||||||
Merchandise inventories | 20,582 | 16,155 | 16,627 | ||||||||||||||
Other current assets | 1,284 | 1,032 | 963 | ||||||||||||||
Total current assets | 30,466 | 34,505 | 28,477 | ||||||||||||||
Net property and equipment | 24,935 | 23,848 | 24,705 | ||||||||||||||
Operating lease right-of-use assets | 5,903 | 5,433 | 5,962 | ||||||||||||||
Goodwill | 7,445 | 2,236 | 7,126 | ||||||||||||||
Other assets | 4,282 | 897 | 4,311 | ||||||||||||||
Total assets | $ | 73,031 | $ | 66,919 | $ | 70,581 | |||||||||||
Liabilities and Stockholders' Equity | |||||||||||||||||
Current liabilities: | |||||||||||||||||
Accounts payable | $ | 13,375 | $ | 12,899 | $ | 11,606 | |||||||||||
Accrued salaries and related expenses | 2,028 | 2,176 | 2,463 | ||||||||||||||
Current installments of long-term debt | 2,436 | 2,491 | 1,416 | ||||||||||||||
Current operating lease liabilities | 827 | 842 | 828 | ||||||||||||||
Other current liabilities | 8,237 | 6,987 | 6,853 | ||||||||||||||
Total current liabilities | 26,903 | 25,395 | 23,166 | ||||||||||||||
Long-term debt, excluding current installments | 36,712 | 32,831 | 35,822 | ||||||||||||||
Long-term operating lease liabilities | 5,290 | 4,880 | 5,356 | ||||||||||||||
Other long-term liabilities | 3,091 | 2,278 | 2,938 | ||||||||||||||
Total liabilities | 71,996 | 65,384 | 67,282 | ||||||||||||||
Total stockholders’ equity | 1,035 | 1,535 | 3,299 | ||||||||||||||
Total liabilities and stockholders’ equity | $ | 73,031 | $ | 66,919 | $ | 70,581 |
Nine Months Ended | |||||||||||
in millions | October 31, 2021 | November 1, 2020 | |||||||||
Cash Flows from Operating Activities: | |||||||||||
Net earnings | $ | 13,081 | $ | 10,009 | |||||||
Reconciliation of net earnings to net cash provided by operating activities: | |||||||||||
Depreciation and amortization | 2,128 | 1,853 | |||||||||
Stock-based compensation expense | 312 | 234 | |||||||||
Changes in working capital | (2,199) | 5,348 | |||||||||
Changes in deferred income taxes | (73) | (86) | |||||||||
Other operating activities | 137 | 57 | |||||||||
Net cash provided by operating activities | 13,386 | 17,415 | |||||||||
Cash Flows from Investing Activities: | |||||||||||
Capital expenditures | (1,737) | (1,503) | |||||||||
Payments for businesses acquired, net | (416) | — | |||||||||
Other investing activities | 21 | 52 | |||||||||
Net cash used in investing activities | (2,132) | (1,451) | |||||||||
Cash Flows from Financing Activities: | |||||||||||
Repayments of short-term debt, net | — | (974) | |||||||||
Proceeds from long-term debt, net of discounts and premiums | 2,979 | 4,960 | |||||||||
Repayments of long-term debt | (1,480) | (1,836) | |||||||||
Repurchases of common stock | (10,374) | (791) | |||||||||
Proceeds from sales of common stock | 190 | 185 | |||||||||
Cash dividends | (5,264) | (4,837) | |||||||||
Other financing activities | (160) | (132) | |||||||||
Net cash used in financing activities | (14,109) | (3,425) | |||||||||
Change in cash and cash equivalents | (2,855) | 12,539 | |||||||||
Effect of exchange rate changes on cash and cash equivalents | 27 | (20) | |||||||||
Cash and cash equivalents at beginning of period | 7,895 | 2,133 | |||||||||
Cash and cash equivalents at end of period | $ | 5,067 | $ | 14,652 |
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Cover Page Cover Page |
Nov. 16, 2021 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Document Period End Date | Nov. 16, 2021 |
Entity Registrant Name | HOME DEPOT, INC. |
Entity Incorporation, State or Country Code | DE |
Entity File Number | 1-8207 |
Entity Tax Identification Number | 95-3261426 |
Entity Address, Address Line One | 2455 Paces Ferry Road |
Entity Address, City or Town | Atlanta |
Entity Address, State or Province | GA |
Entity Address, Postal Zip Code | 30339 |
City Area Code | 770 |
Local Phone Number | 433-8211 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Common Stock, $0.05 Par Value Per Share |
Trading Symbol | HD |
Security Exchange Name | NYSE |
Entity Emerging Growth Company | false |
Amendment Flag | false |
Entity Central Index Key | 0000354950 |
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