HOME DEPOT, INC. (HD) FY2025 Annual Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2025-02-03 to 2026-02-01

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HOME DEPOT, INC. cash flow reconciliation, Feb 3, 2025 through Feb 1, 2026One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash. Intermediate calculation bars are lighter gray. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Orange marks positive customer-advance and deferred-revenue changes that add to operating cash in the reconciliation. These are net changes, not gross customer receipts. Negative changes are neutral reconciliation adjustments; they do not by themselves identify cash payments. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Free cash flow is a separate comparison, not an added cash flow. Read chart description and values below for full signed amounts, including zero items.Net earnings → Net cash from operating activities: $14,156,000,000.00Depreciation and amortization, excluding amortization of intangible assets → Operating adjustments reconciliation: $3,514,000,000.00Intangible asset amortization → Operating adjustments reconciliation: $607,000,000.00Stock-based compensation expense → Operating adjustments reconciliation: $522,000,000.00Changes in deferred income taxes → Operating adjustments reconciliation: $418,000,000.00Other operating activities → Operating adjustments reconciliation: $192,000,000.00Changes in other current assets → Operating adjustments reconciliation: $124,000,000.00Changes in receivables, net → Operating adjustments reconciliation: $107,000,000.00Operating adjustments reconciliation → Net cash from operating activities: $2,169,000,000.00Operating adjustments reconciliation → Changes in merchandise inventories: $1,498,000,000.00Operating adjustments reconciliation → Changes in accounts payable and accrued expenses: $1,058,000,000.00Operating adjustments reconciliation → Changes in income taxes payable: $698,000,000.00Operating adjustments reconciliation → Changes in deferred revenue: $61,000,000.00Other investing activities → investing reconciliation: $109,000,000.00investing reconciliation → Payments for businesses acquired, net: $5,410,000,000.00investing reconciliation → Capital expenditures: $3,679,000,000.00Net cash used in financing activities → financing reconciliation: $7,714,000,000.00Proceeds from short-term debt, net → financing reconciliation: $4,148,000,000.00Proceeds from long-term debt, net of discounts → financing reconciliation: $2,161,000,000.00Proceeds from sales of common stock → financing reconciliation: $314,000,000.00financing reconciliation → Cash dividends: $9,152,000,000.00financing reconciliation → Repayments of long-term debt: $5,040,000,000.00financing reconciliation → Other financing activities: $145,000,000.00Net cash used in investing activities → investing reconciliation: $8,980,000,000.00Exchange-rate effect → Cash sources and uses: $99,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $1,659,000,000.00Net cash from operating activities → Cash sources and uses: $16,325,000,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $1,389,000,000.00Cash sources and uses → Net cash used in investing activities: $8,980,000,000.00Cash sources and uses → Net cash used in financing activities: $7,714,000,000.00Changes in receivables, net: $107,000,000.00Receivables, net+$107.00 MChanges in merchandise inventories: -$1,498,000,000.00Merchandise inventories−$1.50 BChanges in other current assets: $124,000,000.00Other current assets+$124.00 MChanges in accounts payable and accrued expenses: -$1,058,000,000.00Payables & accrued liabilities−$1.06 BChanges in deferred revenue: -$61,000,000.00Unearned revenue−$61.00 MChanges in income taxes payable: -$698,000,000.00Income taxes payable−$698.00 MChanges in deferred income taxes: $418,000,000.00Deferred tax balances+$418.00 MOther operating activities: $192,000,000.00Other working capital, net+$192.00 MStock-based compensation expense: $522,000,000.00Stock-based compensation+$522.00 MDepreciation and amortization, excluding amortization of intangible assets: $3,514,000,000.00Depreciation & amortization+$3.51 BNet earnings: $14,156,000,000.00Net earnings+$14.16 BIntangible asset amortization: $607,000,000.00Intangible amortization+$607.00 MNet cash from operating activities: $16,325,000,000.00Operating cash+$16.33 BOperating adjustments reconciliation: $5,484,000,000.00Proceeds from short-term debt, net: $4,148,000,000.00Commercial paper, net+$4.15 BProceeds from long-term debt, net of discounts: $2,161,000,000.00Long-term debt issued, net+$2.16 BRepayments of long-term debt: -$5,040,000,000.00Debt & capital securities repaid−$5.04 BRepurchases of common stock: $0.00Proceeds from sales of common stock: $314,000,000.00Common stock issued+$314.00 MCash dividends: -$9,152,000,000.00Common dividends paid−$9.15 BOther financing activities: -$145,000,000.00Other financing, net−$145.00 MNet cash used in financing activities: -$7,714,000,000.00. Cash required to fund net payments.Financing cash−$7.71 Bfinancing reconciliation: $14,337,000,000.00Capital expenditures: -$3,679,000,000.00Capital expenditures−$3.68 BPayments for businesses acquired, net: -$5,410,000,000.00Acquisitions, net of cash−$5.41 BOther investing activities: $109,000,000.00Other investing, net+$109.00 MNet cash used in investing activities: -$8,980,000,000.00. Cash required to fund net payments.Investing cash−$8.98 Binvesting reconciliation: $9,089,000,000.00Cash sources and uses: $18,083,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $1,659,000,000.00Beginning cash$1.66 BEnding cash: Cash, cash equivalents, and restricted cash: $1,389,000,000.00Ending cash$1.39 BExchange-rate effect: $99,000,000.00FX effect+$99.00 MCASH RECONCILIATIONOperatingflowsInvestingflowsFinancingflowsFree cash flow$12.65 BOperating cash − cash spent on productive assetsCash flow / Net income1.15×Operating cash flow ÷ net incomeNet cash change−$270.00 MEnding cash − beginning cash
Chart details

HOME DEPOT, INC. cash flow reconciliation, Feb 3, 2025 through Feb 1, 2026

Cash flows for Feb 3, 2025 through Feb 1, 2026. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Feb 2, 2025. Ending cash: Feb 1, 2026. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Feb 2, 2025
1,659,000,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
16,325,000,000 US dollars. Net cash provided.
Net earnings
14,156,000,000 US dollars
Changes in receivables, net
107,000,000 US dollars
Changes in merchandise inventories
negative 1,498,000,000 US dollars
Changes in other current assets
124,000,000 US dollars
Changes in accounts payable and accrued expenses
negative 1,058,000,000 US dollars
Changes in deferred revenue
negative 61,000,000 US dollars
Changes in income taxes payable
negative 698,000,000 US dollars
Changes in deferred income taxes
418,000,000 US dollars
Other operating activities
192,000,000 US dollars
Stock-based compensation expense
522,000,000 US dollars
Depreciation and amortization, excluding amortization of intangible assets
3,514,000,000 US dollars
Intangible asset amortization
607,000,000 US dollars
Investing activities
negative 8,980,000,000 US dollars. Net cash used.
Capital expenditures
negative 3,679,000,000 US dollars
Payments for businesses acquired, net
negative 5,410,000,000 US dollars
Other investing activities
109,000,000 US dollars
Financing activities
negative 7,714,000,000 US dollars. Net cash used.
Proceeds from short-term debt, net
4,148,000,000 US dollars
Proceeds from long-term debt, net of discounts
2,161,000,000 US dollars
Repayments of long-term debt
negative 5,040,000,000 US dollars
Repurchases of common stock
0 US dollars
Proceeds from sales of common stock
314,000,000 US dollars
Cash dividends
negative 9,152,000,000 US dollars
Other financing activities
negative 145,000,000 US dollars
Operating adjustment reconciliation
5,484,000,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
financing gross reconciliation
14,337,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing gross reconciliation
9,089,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
Exchange-rate effect
99,000,000 US dollars
Ending cash on Feb 1, 2026
1,389,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
18,083,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
negative 270,000,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
1.15×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.
Operating cash flow
16,325,000,000 US dollars. Operating cash flow used in the free cash flow calculation.
cash spent on productive assets
3,679,000,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
12,646,000,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net income enters operating cash directly in the reconciliation. The adjustment junction contributes the remaining $2.17B after reconciling the other positive and negative adjustments. These connections depict an accounting reconciliation, not traced cash receipts.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
  • Operating cash flow minus cash spent on productive assets equals free cash flow: 16,325,000,000 US dollars minus 3,679,000,000 US dollars equals 12,646,000,000 US dollars.
HOME DEPOT, INC. (HD) FY2025 Annual Statement of Cash Flows Sankey chart
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