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NOTE: 2015 BALANCE SHEET INFORMATION SHOULD BE USED ONLY FOR RATIOS

  

Balance Sheet

NOTE: 2015 BALANCE SHEET INFORMATION SHOULD BE USED ONLY FOR RATIOS
Report Date 2018 2017 2016 2015
$ in Millions
Current assets:
Cash and cash equivalents $1,778 $3,595 $2,538 $2,216
Receivables, net $1,936 $1,952 $2,029 $1,890
Merchandise inventories $13,925 $12,748 $12,549 $11,809
Other current assets $890 $638 $608 $569
Total current assets $18,529 $18,933 $17,724 $16,484
Net property and equipment $22,375 $22,075 $21,914 $22,191
Goodwill $2,252 $2,275 $2,093 $2,102
Other assets $847 $1,246 $1,235 $1,196
Total assets $44,003 $44,529 $42,966 $41,973
Current Liabilities:
Short-term debt $1,339 $1,559 $710 $350
Accounts payable $7,755 $7,244 $7,000 $6,565
Accrued salaries and related expenses $1,506 $1,640 $1,484 $1,515
Sales taxes payable $656 $520 $508 $476
Deferred revenue $1,782 $1,805 $1,669 $1,566
Income taxes payable $11 $54 $25 $34
Current installments of long-term debt $1,056 $1,202 $542 $77
Other accrued expenses $2,611 $2,170 $2,195 $1,941
Total current liabilities $16,716 $16,194 $14,133 $12,524
Long-term debt, excluding current installments $26,807 $24,267 $22,349 $20,789
Deferred income taxes $491 $440 $296 $379
Other long-term liabilities $1,867 $2,174 $1,855 $1,965
Total liabilities $45,881 $43,075 $38,633 $35,657
Common stock, par value $0.05; authorized: 10,000 shares; issued: 1,782 at February 3, 2019 and 1,780 shares at January 28, 2018; outstanding: 1,105 shares at February 3, 2019 and 1,158 shares at January 28, 2018 $89 $89 $88 $88
Paid-in capital $10,578 $10,192 $9,787 $9,347
Retained earnings $46,423 $39,935 $35,519 $30,973
Accumulated other comprehensive loss -$772 -$566 -$867 -$898
Treasury stock, at cost, 677 shares at February 3, 2019 and 622 shares at January 28, 2018 -$58,196 -$48,196 -$40,194 -$33,194
Total stockholders’ (deficit) equity -$1,878 $1,454 $4,333 $6,316
Total liabilities and stockholders’ equity $44,003 $44,529 $42,966 $41,973
Additional Information
* No allowance account is created for receivables, i.e. Net receivables is equal to gross receivables
**Property and Equipment, at cost:
Land $8,363 8352 $8,207 8,149
Buildings 18199 $18,073 $17,772 17,667
Furniture, Fixtures and Equipment 12460 11506 11,020 10,279
Leasehold Improvements 1705 1637 1,519 1,481
Construction in Progress 820 538 739 670
Capital Leases 1392 1308 1,169 1,020
Less Accumulated Depreciation and Amortization 20564 19339 18,512 17,075
Net Property and Equipment 22375 22075 21,914 22,191

Income Statement

shares in Millions, $ in Millions 2018 2017 2016
Income Statement
Net Sales $108,203 $100,904 $94,595
Cost of sales 71,043 66,548 62,282
Gross profit 37,160 34,356 32,313
Operating expenses:
Selling, general and administrative 19,513 17,864 17,132
Depreciation and amortization 1,870 1,811 1,754
Impairment loss 247 0 0
Total operating expenses 21,630 19,675 18,886
Operating income 15,530 14,681 13,427
Interest and other (income) expense:
Interest and investment income -93 -74 -36
Interest expense 1,051 1,057 972
Other 16 0 0
Interest and other, net 974 983 936
Earnings before provision for income taxes 14,556 13,698 12,491
Provision for income taxes 3,435 5,068 4,534
Net earnings $11,121 $8,630 $7,957
Additional Information
Basic weighted average common shares 1,137 1,178 1,229
Cash dividend per share 4.12 3.56 2.76
Operating cash flow for the year 13,038 12,031 9,783

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