Spreadsheet: 0389515a-46bd-4d85-8dff-87831ed12c8f
Sheet: Sheet1

Lowe's Companies, Inc. | Unnamed: 1 | Unnamed: 2 | Unnamed: 3 | Unnamed: 4 | Unnamed: 5 | Unnamed: 6 | Unnamed: 7 | Unnamed: 8 | Unnamed: 9 | Unnamed: 10 | Unnamed: 11 | Unnamed: 12 | Unnamed: 13 | Unnamed: 14 | Unnamed: 15 | Unnamed: 16 | Unnamed: 17 | Unnamed: 18
Consolidated Statements of Current and Retained Earnings (Unaudited)
In Millions, Except Per Share Data
 |  |  |  | Three Months Ended |  |  |  |  |  |  |  |  | Six Months Ended
 |  |  |  | July 29, 2011 |  |  |  | 2010-07-30 00:00:00 |  |  |  |  | July 29, 2011 |  |  |  | 2010-07-30 00:00:00
Current Earnings |  |  |  | Amount | Percent |  |  | Amount | Percent |  |  |  | Amount | Percent |  |  | Amount | Percent
Net sales |  |  | $ | 14543 | 100 |  | $ | 14361 | 100 |  |  | $ | 26728 | 100 |  | $ | 26749 | 100
Cost of sales |  |  |  | 9527 | 65.50999999999999 |  |  | 9355 | 65.14 |  |  |  | 17393 | 65.07 |  |  | 17384 | 64.99000000000001
Gross margin |  |  |  | 5016 | 34.49 |  |  | 5006 | 34.86 |  |  |  | 9335 | 34.93 |  |  | 9365 | 35.01
Expenses:
Selling, general and administrative |  |  |  | 3232 | 22.22 |  |  | 3189 | 22.21 |  |  |  | 6351 | 23.76 |  |  | 6283 | 23.49
Depreciation |  |  |  | 365 | 2.51 |  |  | 398 | 2.77 |  |  |  | 737 | 2.76 |  |  | 795 | 2.97
Interest - net |  |  |  | 90 | 0.62 |  |  | 84 | 0.59 |  |  |  | 178 | 0.67 |  |  | 166 | 0.62
Total expenses |  |  |  | 3687 | 25.35 |  |  | 3671 | 25.57 |  |  |  | 7266 | 27.19 |  |  | 7244 | 27.08
Pre-tax earnings |  |  |  | 1329 | 9.14 |  |  | 1335 | 9.29 |  |  |  | 2069 | 7.74 |  |  | 2121 | 7.93
Income tax provision |  |  |  | 499 | 3.430000000000001 |  |  | 503 | 3.499999999999999 |  |  |  | 777 | 2.91 |  |  | 800 | 2.989999999999999
Net earnings |  |  | $ | 830 | 5.71 |  | $ | 832 | 5.79 |  |  | $ | 1292 | 4.83 |  | $ | 1321 | 4.94
Weighted average common shares outstanding - basic |  |  |  | 1275 |  |  |  | 1417 |  |  |  |  | 1300 |  |  |  | 1427
Basic earnings per common share (1) |  |  | $ | 0.65 |  |  | $ | 0.58 |  |  |  | $ | 0.99 |  |  | $ | 0.92
Weighted average common shares outstanding - diluted |  |  |  | 1278 |  |  |  | 1419 |  |  |  |  | 1303 |  |  |  | 1430
Diluted earnings per common share (1) |  |  | $ | 0.64 |  |  | $ | 0.58 |  |  |  | $ | 0.98 |  |  | $ | 0.92
Cash dividends per share |  |  | $ | 0.14 |  |  | $ | 0.11 |  |  |  | $ | 0.25 |  |  | $ | 0.2
[NAME]
Balance at beginning of period |  |  | $ | 16715 |  |  | $ | 18246 |  |  |  | $ | 17371 |  |  | $ | 18307
Net earnings |  |  |  | 830 |  |  |  | 832 |  |  |  |  | 1292 |  |  |  | 1321
Cash dividends |  |  |  | -176 |  |  |  | -157 |  |  |  |  | -322 |  |  |  | -287
Share repurchases |  |  |  | -1309 |  |  |  | -467 |  |  |  |  | -2281 |  |  |  | -887
Balance at end of period |  |  | $ | 16060 |  |  | $ | 18454 |  |  |  | $ | 16060 |  |  | $ | 18454
(1) Under the two-class method, earnings per share is calculated using net earnings allocable to common shares, which is derived by reducing net earnings by the earnings allocable to participating securities. Net earnings allocable to common shares used in the basic and diluted earnings per share calculation were $823 million for the three months ended July 29, 2011 and $825 million for the three months ended July 30, 2010. Net earnings allocable to common shares used in the basic and diluted earnings per share calculation were $1,281 million for the six months ended July 29, 2011 and $1,310 million for the six months ended July 30, 2010.