Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Home Depot Inc., consolidated income statement

US$ in millions

12 months ended:	Jan 28, 2024	Jan 29, 2023	Jan 30, 2022	Jan 31, 2021	Feb 2, 2020	Feb 3, 2019
Net sales	152,669)	157,403)	151,157)	132,110)	110,225)	108,203)
Cost of sales	(101,709)	(104,625)	(100,325)	(87,257)	(72,653)	(71,043)
Gross profit	50,960)	52,778)	50,832)	44,853)	37,572)	37,160)
Selling, general and administrative	(26,598)	(26,284)	(25,406)	(24,447)	(19,740)	(19,513)
Depreciation and amortization	(2,673)	(2,455)	(2,386)	(2,128)	(1,989)	(1,870)
Impairment loss	—)	—)	—)	—)	—)	(247)
Operating expenses	(29,271)	(28,739)	(27,792)	(26,575)	(21,729)	(21,630)
Operating income	21,689)	24,039)	23,040)	18,278)	15,843)	15,530)
Interest income and other, net	178)	55)	44)	47)	73)	77)
Interest expense	(1,943)	(1,617)	(1,347)	(1,347)	(1,201)	(1,051)
Interest and other income (expense), net	(1,765)	(1,562)	(1,303)	(1,300)	(1,128)	(974)
Earnings before provision for income taxes	19,924)	22,477)	21,737)	16,978)	14,715)	14,556)
Provision for income taxes	(4,781)	(5,372)	(5,304)	(4,112)	(3,473)	(3,435)
Net earnings	15,143)	17,105)	16,433)	12,866)	11,242)	11,121)

Based on: 10-K (reporting date: 2024-01-28), 10-K (reporting date: 2023-01-29), 10-K (reporting date: 2022-01-30), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-02-02), 10-K (reporting date: 2019-02-03).

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Income statement item	Description	The company
Net sales	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Home Depot Inc. net sales increased from 2022 to 2023 but then slightly decreased from 2023 to 2024 not reaching 2022 level.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	Home Depot Inc. operating income increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.
Earnings before provision for income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Home Depot Inc. earnings before provision for income taxes increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.
Net earnings	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Home Depot Inc. net earnings increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.

Home Depot Inc. (NYSE:HD)

Income Statement