| Consolidated Statements of Earnings (USD $) | ||||
| In Millions, except Per Share data | 3 Months Ended
Nov. 01, 2009 | 3 Months Ended
Nov. 02, 2008 | 9 Months Ended
Nov. 01, 2009 | 9 Months Ended
Nov. 02, 2008 |
| NET SALES | $16,361 | $17,784 | $51,607 | $56,681 |
| Cost of Sales | 10,800 | 11,790 | 34,208 | 37,651 |
| GROSS PROFIT | 5,561 | 5,994 | 17,399 | 19,030 |
| Operating Expenses: | ||||
| Selling, General and Administrative | 3,870 | 4,225 | 12,033 | 13,595 |
| Depreciation and Amortization | 428 | 446 | 1,290 | 1,342 |
| Total Operating Expenses | 4,298 | 4,671 | 13,323 | 14,937 |
| OPERATING INCOME | 1,263 | 1,323 | 4,076 | 4,093 |
| Interest (Income) Expense: | ||||
| Interest and Investment Income | (4) | (6) | (15) | (13) |
| Interest Expense | 168 | 157 | 515 | 485 |
| Interest, net | 164 | 151 | 500 | 472 |
| EARNINGS BEFORE PROVISION FOR INCOME TAXES | 1,099 | 1,172 | 3,576 | 3,621 |
| Provision for Income Taxes | 410 | 416 | 1,257 | 1,307 |
| NET EARNINGS | $689 | $756 | $2,319 | $2,314 |
| Weighted Average Common Shares | 1,682 | 1,681 | 1,684 | 1,681 |
| BASIC EARNINGS PER SHARE | 0.41 | 0.45 | 1.38 | 1.38 |
| Diluted Weighted Average Common Shares | 1,693 | 1,687 | 1,692 | 1,686 |
| DILUTED EARNINGS PER SHARE | 0.41 | 0.45 | 1.37 | 1.37 |
| Dividends Declared Per Share | 0.225 | 0.225 | 0.675 | 0.675 |
| Consolidated Balance Sheets (USD $) | ||
| In Millions | Nov. 01, 2009
| Feb. 01, 2009
|
| Current Assets: | ||
| Cash and Cash Equivalents | $2,719 | $519 |
| Short-Term Investments | 6 | 6 |
| Receivables, net | 1,188 | 972 |
| Merchandise Inventories | 10,817 | 10,673 |
| Other Current Assets | 1,169 | 1,192 |
| Total Current Assets | 15,899 | 13,362 |
| Property and Equipment, at cost | 36,997 | 36,477 |
| Less Accumulated Depreciation and Amortization | 11,416 | 10,243 |
| Net Property and Equipment | 25,581 | 26,234 |
| Notes Receivable | 33 | 36 |
| Goodwill | 1,163 | 1,134 |
| Other Assets | 374 | 398 |
| Total Assets | 43,050 | 41,164 |
| Current Liabilities: | ||
| Accounts Payable | 5,829 | 4,822 |
| Accrued Salaries and Related Expenses | 1,069 | 1,129 |
| Sales Taxes Payable | 432 | 337 |
| Deferred Revenue | 1,177 | 1,165 |
| Income Taxes Payable | 484 | 289 |
| Current Installments of Long-Term Debt | 1,769 | 1,767 |
| Other Accrued Expenses | 1,695 | 1,644 |
| Total Current Liabilities | 12,455 | 11,153 |
| Long-Term Debt, excluding current installments | 8,656 | 9,667 |
| Other Long-Term Liabilities | 2,226 | 2,198 |
| Deferred Income Taxes | 333 | 369 |
| Total Liabilities | 23,670 | 23,387 |
| STOCKHOLDERS' EQUITY | ||
| Common Stock, par value $0.05; Authorized: 10 billion shares; Issued: 1.715 billion shares at November 1, 2009 and 1.707 billion shares at February 1, 2009; Outstanding: 1.701 billion shares at November 1, 2009 and 1.696 billion shares at February 1, 2009 | 86 | 85 |
| Paid-In Capital | 6,225 | 6,048 |
| Retained Earnings | 13,265 | 12,093 |
| Accumulated Other Comprehensive Income (Loss) | 274 | (77) |
| Treasury Stock, at cost, 14 million shares at November 1, 2009 and 11 million shares at February 1, 2009 | (470) | (372) |
| Total Stockholders' Equity | 19,380 | 17,777 |
| Total Liabilities and Stockholders' Equity | $43,050 | $41,164 |
| Consolidated Balance Sheets (Parenthetical) (USD $) | ||
| Nov. 01, 2009
| Feb. 01, 2009
| |
| Common Stock, par value | 0.05 | 0.05 |
| Common Stock, Authorized | 10,000,000,000 | 10,000,000,000 |
| Common Stock, Issued | 1,715,000,000 | 1,707,000,000 |
| Common Stock, Outstanding | 1,701,000,000 | 1,696,000,000 |
| Treasury Stock, shares | 14,000,000 | 11,000,000 |
| Consolidated Statements of Cash Flows (USD $) | ||
| In Millions | 9 Months Ended
Nov. 01, 2009 | 9 Months Ended
Nov. 02, 2008 |
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net Earnings | $2,319 | $2,314 |
| Reconciliation of Net Earnings to Net Cash Provided by Operating Activities: | ||
| Depreciation and Amortization | 1,364 | 1,432 |
| Impairment Related to Rationalization Charges | 0 | 313 |
| Stock-Based Compensation Expense | 160 | 155 |
| Changes in Assets and Liabilities: | ||
| Increase in Receivables, net | (239) | (225) |
| Increase in Merchandise Inventories | (28) | (365) |
| Decrease (Increase) in Other Current Assets | 93 | (72) |
| Increase in Accounts Payable and Accrued Expenses | 834 | 1,102 |
| Decrease in Deferred Revenue | (1) | (192) |
| Increase in Income Taxes Payable | 200 | 298 |
| Decrease in Deferred Income Taxes | (131) | (164) |
| Other | 93 | 198 |
| Net Cash Provided by Operating Activities | 4,664 | 4,794 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Capital Expenditures | (568) | (1,411) |
| Proceeds from Sales of Property and Equipment | 161 | 128 |
| Purchases of Investments | 0 | (83) |
| Proceeds from Sales and Maturities of Investments | 22 | 2 |
| Net Cash Used in Investing Activities | (385) | (1,364) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Repayments of Short-Term Borrowings, net | 0 | (1,740) |
| Repayments of Long-Term Debt | (1,015) | (308) |
| Proceeds from Sales of Common Stock | 37 | 55 |
| Repurchases of Common Stock | (98) | (70) |
| Cash Dividends Paid to Stockholders | (1,144) | (1,141) |
| Other | 121 | 209 |
| Net Cash Used in Financing Activities | (2,099) | (2,995) |
| Increase in Cash and Cash Equivalents | 2,180 | 435 |
| Effect of Exchange Rate Changes on Cash and Cash Equivalents | 20 | (16) |
| Cash and Cash Equivalents at Beginning of Period | 519 | 445 |
| Cash and Cash Equivalents at End of Period | $2,719 | $864 |
| Consolidated Statements of Comprehensive Income (USD $) | |||||||||||||||||||
| In Millions | 3 Months Ended
Nov. 01, 2009 | 3 Months Ended
Nov. 02, 2008 | 9 Months Ended
Nov. 01, 2009 | 9 Months Ended
Nov. 02, 2008 | |||||||||||||||
| Net Earnings | $689 | $756 | $2,319 | $2,314 | |||||||||||||||
| Other Comprehensive (Loss) Income: | |||||||||||||||||||
| Foreign Currency Translation Adjustments | (45) | (554) | 345 | (574) | |||||||||||||||
| Cash Flow Hedges | (1) | [1] | (8) | [1] | 4 | [1] | (3) | [1] | |||||||||||
| Unrealized Gain (Loss) on Investments | 1 | [1] | (1) | [1] | 2 | [1] | (1) | [1] | |||||||||||
| Total Other Comprehensive (Loss) Income | (45) | (563) | 351 | (578) | |||||||||||||||
| Comprehensive Income | $644 | $193 | $2,670 | $1,736 | |||||||||||||||
| [1]These components of comprehensive income are reported net of income taxes. | |||||||||||||||||||
| 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
| 9 Months Ended
Nov. 01, 2009 USD / shares | |
| Notes to Financial Statements [Abstract] | |
| 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying Consolidated Financial Statements have been prepared in accordance with the instructions to Form10-Q and do not include all of the information and footnotes required by generally accepted accounting principles (GAAP) for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. These statements should be read in conjunction with the Consolidated Financial Statements and notes thereto included in the Companys Annual Report on Form10-K for the year ended February1, 2009, as filed with the Securities and Exchange Commission. Business The Home Depot,Inc. and subsidiaries (the Company) operate The Home Depot stores, which are full-service, warehouse-style stores averaging approximately 105,000 square feet in size. The stores stock approximately 30,000 to 40,000 different kinds of building materials, home improvement supplies and lawn and garden products that are sold to do-it-yourself customers, do-it-for-me customers, home improvement contractors, trades people and building maintenance professionals. Fair Value of Financial Instruments The carrying amounts of Cash and Cash Equivalents, Receivables and Accounts Payable approximate fair value due to the short-term maturities of these financial instruments. Short-Term Investments are recorded at fair value based on current market rates and are classified as available-for-sale. The $10.0 billion of senior notes included in Current Installments of Long-Term Debt and Long-Term Debt in the accompanying Consolidated Balance Sheets had a fair market value of $10.3 billion as of November1, 2009. The fair market value of the senior notes was determined using Level 1 data as defined by Financial Accounting Standards Board Accounting Standards Codification Topic 820-10, Fair Value Measurements and Disclosures (FASB ASC 820-10). Valuation Reserves As of November1, 2009 and February1, 2009, the valuation allowances for Merchandise Inventories and uncollectible Receivables were not material. Goodwill and Other Intangible Assets The Company completed its annual assessment on the recoverability of Goodwill and indefinite lived intangible assets in the third quarter of fiscal 2009. The fair values of the Companys reporting units and indefinite lived intangible assets were determined using Level 3 data as defined by FASB ASC 820-10. No impairment charges were recorded. |
| 2. RATIONALIZATION CHARGES | |
| 9 Months Ended
Nov. 01, 2009 USD / shares | |
| Notes to Financial Statements [Abstract] | |
| 2. RATIONALIZATION CHARGES | 2. RATIONALIZATION CHARGES In fiscal 2008, the Company reduced its square footage growth plans to improve free cash flow, provide stronger returns for the Company and invest in its existing stores to continue improving the customer experience. As a result of this store rationalization plan, the Company determined that it would no longer pursue the opening of approximately 50 U.S. stores that had been in its new store pipeline. The Company expects to dispose of or sublet these pipeline locations over varying periods. The Company also closed 15 underperforming U.S. stores in the second quarter of fiscal 2008, and the Company expects to dispose of or sublet those locations over varying periods. Also in fiscal 2008, the Company announced that it would exit its EXPO, THD Design Center, Yardbirds and HD Bath businesses (the Exited Businesses) in order to focus on its core The Home Depot stores. The Company closed the Exited Businesses in the first quarter of fiscal 2009 and expects to dispose of or sublet those locations over varying periods. These steps impacted approximately 5,000 associates in those locations, their support functions and their distribution centers. Finally, in January 2009 the Company restructured its support functions to better align the Companys cost structure. These actions impacted approximately 2,000 associates. The Company recognized total pretax charges of $146 million for the first nine months of fiscal 2009, including $9 million in the third quarter of fiscal 2009, and $564 million for the first nine months of fiscal 2008, including $3 million in the third quarter of fiscal 2008, related to these actions (collectively, the Rationalization Charges). The significant components of the total expected charges and charges incurred to date are as follows (amounts in millions): TotalExpected Charges Fiscal 2008 Charges FirstNineMonths Fiscal 2009 Charges Estimated Remaining Charges Asset impairments $580 $580 $- $- Lease obligation costs, net 336 252 84 - Severance 86 78 8 - Other 113 41 54 18 Total $1,115 $951 $146 $18 Inventory markdown costs reflected in Other are included in Cost of Sales in the accompanying Consolidated Statements of Earnings, and costs related to asset impairments, lease obligations, severance and other miscellaneous costs are included in Selling, General and Administrative expenses. Asset impairment charges, including contractual costs to complete certain assets, were determined based on fair market value using market data for each individual property. Lease obligation costs represent the present value of contractually obligated rental payments offset by estimated sublet income, including estimates of the time required to sublease the locations. The payments related to the leased locations therefore are not generally incremental uses of cash. The assumptions used to determine the fair market values for the purpose of recording asset impairment and lease obligation costs include significant unobservable inputs, or Level 3 data, as defined by FASB ASC 820-10. Activit |
| 3. BASIC AND DILUTED WEIGHTED AVERAGE COMMON SHARES | |
| 9 Months Ended
Nov. 01, 2009 USD / shares | |
| Notes to Financial Statements [Abstract] | |
| 3. BASIC AND DILUTED WEIGHTED AVERAGE COMMON SHARES | 3. BASIC AND DILUTED WEIGHTED AVERAGE COMMON SHARES The reconciliation of basic to diluted weighted average common shares for the three and nine months ended November1, 2009 and November2, 2008 was as follows (amounts in millions): Three Months Ended Nine Months Ended November1, 2009 November2, 2008 November1, 2009 November2, 2008 Weighted average common shares 1,682 1,681 1,684 1,681 Effect of potentially dilutive securities: Stock Plans 11 6 8 5 Diluted weighted average common shares 1,693 1,687 1,692 1,686 Stock plans include shares granted under the Companys employee stock plans. Options to purchase 44million and 50million shares of common stock for the three months ended November1, 2009 and November2, 2008, respectively, and options to purchase 49million and 52million shares of common stock for the nine months ended November1, 2009 and November2, 2008, respectively, were excluded from the computation of Diluted Earnings per Share because their effect would have been anti-dilutive. |
| Document Information | |
| 9 Months Ended
Nov. 01, 2009 USD / shares | |
| Document Information [Text Block] | |
| Document Type | 10-Q |
| Amendment Flag | false |
| Document Period End Date | 2009-11-01 |
| Entity Information (USD $) | ||
| 9 Months Ended
Nov. 01, 2009 | Nov. 27, 2009
| |
| Entity [Text Block] | ||
| Trading Symbol | HD | |
| Entity Registrant Name | HOME DEPOT INC | |
| Entity Central Index Key | 0000354950 | |
| Current Fiscal Year End Date | --01-31 | |
| Entity Filer Category | Large Accelerated Filer | |
| Entity Common Stock, Shares Outstanding | 1,700,411,887 |
