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This Form 10-K, as well as other statements we make, contains "forward-looking statements" within the meaning of the federal securities laws, which include any statements that are not historical facts. Such statements often contain words such as "expect," "may," "can," "believe," "predict," "plan," "potential," "projec... | {
"ticker": "SLB",
"year": "2024",
"source": "SLB_10K_2024-12-31.html"
} | 949 | 6 |
See the Notes to Consolidated Financial Statements
29
SCHLUMBERGER LIMITED AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF C
OMPREHENSIVE INCOME
| (Stated in millions) | |
| Year Ended December 31, | 2024 | | | 2023 | | | 2022 | |
| Net income | $ | 4,579 | | | $ | 4,275 | | | $ | 3,492 | |
| Currency transl... | {
"ticker": "SLB",
"year": "2024",
"source": "SLB_10K_2024-12-31.html"
} | 626 | 2 |
SCHLUMBERGER LIMITED AND SUBSIDIARIES
CONSOLIDATED STATEM
ENT OF CASH FLOWS
| (Stated in millions) | |
| Year Ended December 31, | 2024 | | | 2023 | | | 2022 | |
| Cash flows from operating activities: | | | | | | | | |
| Net income | $ | 4,579 | | | $ | 4,275 | | | $ | 3,492 | |
| Adjustments to ... | {
"ticker": "SLB",
"year": "2024",
"source": "SLB_10K_2024-12-31.html"
} | 1,686 | 2 |
CONSOLIDATED STATEM
ENT OF CASH FLOWS
| (Stated in millions) | |
| Year Ended December 31, | 2024 | | | 2023 | | | 2022 | |
| Cash flows from operating activities: | | | | | | | | |
| Net income | $ | 4,579 | | | $ | 4,275 | | | $ | 3,492 | |
| Adjustments to reconcile net income to cash provided b... | {
"ticker": "SLB",
"year": "2024",
"source": "SLB_10K_2024-12-31.html"
} | 1,677 | 2 |
ENT OF CASH FLOWS
| (Stated in millions) | |
| Year Ended December 31, | 2024 | | | 2023 | | | 2022 | |
| Cash flows from operating activities: | | | | | | | | |
| Net income | $ | 4,579 | | | $ | 4,275 | | | $ | 3,492 | |
| Adjustments to reconcile net income to cash provided by operating activitie... | {
"ticker": "SLB",
"year": "2024",
"source": "SLB_10K_2024-12-31.html"
} | 1,689 | 2 |
| (Stated in millions) | |
| Year Ended December 31, | 2024 | | | 2023 | | | 2022 | |
| Cash flows from operating activities: | | | | | | | | |
| Net income | $ | 4,579 | | | $ | 4,275 | | | $ | 3,492 | |
| Adjustments to reconcile net income to cash provided by operating activities: | | | | | |... | {
"ticker": "SLB",
"year": "2024",
"source": "SLB_10K_2024-12-31.html"
} | 1,686 | 2 |
SCHLUMBERGER LIMITED AND SUBSIDIARIES
CONSOLIDATED STATEMENT O
F STOCKHOLDERS' EQUITY
| | | (Stated in millions) | |
| | | | | | | | | | | | Accumulated | | | | | | | |
| | | | | | | | | | | | Other | | | | | | | |
| | | Common Stock | | | Retained | | | Comprehensive | ... | {
"ticker": "SLB",
"year": "2024",
"source": "SLB_10K_2024-12-31.html"
} | 2,296 | 2 |
CONSOLIDATED STATEMENT O
F STOCKHOLDERS' EQUITY
| | | (Stated in millions) | |
| | | | | | | | | | | | Accumulated | | | | | | | |
| | | | | | | | | | | | Other | | | | | | | |
| | | Common Stock | | | Retained | | | Comprehensive | | | Noncontrolling | | | | |
| | ... | {
"ticker": "SLB",
"year": "2024",
"source": "SLB_10K_2024-12-31.html"
} | 2,292 | 2 |
F STOCKHOLDERS' EQUITY
| | | (Stated in millions) | |
| | | | | | | | | | | | Accumulated | | | | | | | |
| | | | | | | | | | | | Other | | | | | | | |
| | | Common Stock | | | Retained | | | Comprehensive | | | Noncontrolling | | | | |
| | | Issued | | | In Treas... | {
"ticker": "SLB",
"year": "2024",
"source": "SLB_10K_2024-12-31.html"
} | 2,285 | 2 |
| | | (Stated in millions) | |
| | | | | | | | | | | | Accumulated | | | | | | | |
| | | | | | | | | | | | Other | | | | | | | |
| | | Common Stock | | | Retained | | | Comprehensive | | | Noncontrolling | | | | |
| | | Issued | | | In Treasury | | | Earnings | ... | {
"ticker": "SLB",
"year": "2024",
"source": "SLB_10K_2024-12-31.html"
} | 2,289 | 2 |
% is expected to be recognized as revenue during 2025.
Short-term Investments
Short-term investments
are comprised primarily of money market funds, time deposits, certificates of deposit, commercial paper, bonds, and notes, substantially all of which are denominated in US dollars and are stated at cost plus accrued ... | {
"ticker": "SLB",
"year": "2024",
"source": "SLB_10K_2024-12-31.html"
} | 790 | 2 |
2.0
billion matures in February 2028 and $
3.0
billion matures in December 2029. These committed facilities support commercial paper programs in the United States and Europe. There were
no
borrowings under these facilities at December 31, 2024 and 2023.
Commercial paper borrowings are classified as long-term debt... | {
"ticker": "SLB",
"year": "2024",
"source": "SLB_10K_2024-12-31.html"
} | 787 | 2 |
The components of
Tax expense
were as follows:
| (Stated in millions) | |
| | 2024 | | | 2023 | | | 2022 | |
| Current: | | | | | | | | |
| United States-Federal | $ | 10 | | | $ | ( 23 | ) | | $ | 2 | |
| United States-State | | 7 | | | | 5 | | | | 3 | |
| Outside United States | | 1,117... | {
"ticker": "SLB",
"year": "2024",
"source": "SLB_10K_2024-12-31.html"
} | 727 | 2 |
| | 2024 | | | 2023 | | | 2022 | |
| US federal statutory rate | | 21 | % | | | 21 | % | | | 21 | % |
| Charges and credits (See Note 3) | | - | | | | - | | | | ( 1 | ) |
| Change in valuation allowance | | ( 1 | ) | | | - | | | | ( 2 | ) |
| Other | | ( 1 | ) | | | ( 2 | ) | | | - | |
| ... | {
"ticker": "SLB",
"year": "2024",
"source": "SLB_10K_2024-12-31.html"
} | 721 | 2 |
| (Stated in millions) | |
| | 2024 | | | 2023 | |
| Trade | $ | 4,230 | | | $ | 4,613 | |
| Payroll, vacation, and employee benefits | | 1,475 | | | | 1,625 | |
| Billings and cash collections in excess of revenue | | 2,007 | | | | 1,996 | |
| Other | | 2,663 | | | | 2,670 | |
| | $ | 10,375 | ... | {
"ticker": "SLB",
"year": "2024",
"source": "SLB_10K_2024-12-31.html"
} | 761 | 2 |
Internal Control - Integrated Framework
(2013) issued by the COSO.
Basis for Opinions
The Company's management is responsible for these consolidated financial statements, for maintaining effective internal control over financial reporting, and for its assessment of the effectiveness of internal control over financia... | {
"ticker": "SLB",
"year": "2024",
"source": "SLB_10K_2024-12-31.html"
} | 756 | 2 |
Critical Audit Matters
The critical audit matter communicated below is a matter arising from the current period audit of the consolidated financial statements that was communicated or required to be communicated to the audit committee and that (i) relates to accounts or disclosures that are material to the consolidate... | {
"ticker": "SLB",
"year": "2024",
"source": "SLB_10K_2024-12-31.html"
} | 772 | 3 |
Contents
FORWARD-LOOKING STATEMENTS
Certain statements contained herein, as well as in other filings we make with the SEC and other written and oral information we release, including statements regarding our performance, estimates, expectations, beliefs, intentions, projections, strategies for the future, or other ev... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 757 | 7 |
Part II, Item 7.
Management's
Discussion and Analysis of Financial Condition and Results of Operations
in this report. There also may be other factors that we cannot anticipate or that are not described herein, generally because we do not currently perceive them to be material. Such factors could cause results to di... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 800 | 2 |
We believe our merchandising organization is a key competitive advantage, delivering product innovation, assortment and value, which reinforces our position as the product authority in home improvement. At the same time, we remain focused on offering the right products at everyday values in our stores and online. To re... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 797 | 2 |
and Lifeproof
®
. The duration of trademark registrations varies from country to country. However, trademarks are generally valid and may be renewed indefinitely as long as they are in use and/or their registrations are properly maintained.
| Fiscal 2024 Form 10-K | 3 | |
Table
of
Contents
We also maintain pate... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 758 | 3 |
Respect For All People.
We strive to maintain a culture that welcomes everyone, and we believe it helps us achieve our business goals by driving excellent customer service and innovation, empowering our associates to thrive and excel, and enriching the communities in which we operate. This includes creating an environ... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 763 | 3 |
Our primary internet website is www.homedepot.com. We make available on the Investor Relations section of our website, free of charge, our Annual Reports to shareholders, Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, Proxy Statements, and Forms 3, 4 and 5 for our directors an... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 755 | 5 |
Contents
with specialty design stores, showrooms, discount stores, paint stores, specialty and mass digital retailers, warehouse clubs, MRO distributors, national and local wholesale supply distributors, home décor retailers, and other retailers, as well as with providers of home improvement services and tool and equi... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 789 | 6 |
We use our marketing, advertising and promotional programs to drive customer traffic and compete more effectively, and we must regularly assess and adjust our efforts to address changes in the competitive landscape. Intense competitive pressures from one or more of our competitors, such as through aggressive promotiona... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 720 | 4 |
Table
of
Contents
stores, branches, distribution facilities, and online platforms is fundamental to the success of our interconnected strategy. We cannot guarantee that our current or future fulfillment options will be maintained and implemented successfully or that we will be able to meet customer expectations on d... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 748 | 2 |
Table
of
Contents
We must effectively manage the volume, timing, nature, location, and cost of our investments, projects and changes. Failure to continue to make investments to effectively support our strategy and to implement or integrate those investments in the right manner and at the right pace could adversely i... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 484 | 3 |
If we are unable to effectively manage and expand our alliances and relationships with certain suppliers of both brand name and proprietary products, we may be unable to effectively execute our strategy to differentiate ourselves from our competitors.
As part of our focus on product differentiation, we have formed str... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 741 | 6 |
Table
of
Contents
controlling labor costs is subject to numerous external factors, including increased market pressures with respect to prevailing wage rates, unemployment levels, and health and other insurance costs; the impact of legislation or regulations governing labor relations, employment, immigration, minimu... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 496 | 5 |
In addition, to execute our interconnected retail strategy, including our supply chain investments, we must attract and retain a large number of skilled professionals, including technology professionals, to implement our ongoing technology and other investments. The market for these professionals is very competitive. A... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 762 | 3 |
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of
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infrastructure, which could significantly disrupt our operations or impair data security; impact our ability to operate or access communications, financial or banking systems; be costly, time-consuming and resource-intensive to remedy; and adversely impact our reputation and relationship with our c... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 727 | 2 |
of
Contents
impacted by capacity constraints, port congestion and delays, periodic labor disputes, strikes, security issues, weather-related events, and natural or man-made disasters.
As we saw during the heights of the COVID-19 pandemic, these types of disruptions place strain on the domestic and international supp... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 508 | 2 |
Failure to maintain a safe and secure shopping and working environment may adversely impact sales, costs, the customer and associate experience, and our brand and reputation.
Our customers and associates expect a safe environment in which to shop and work, and maintaining that environment helps protect against loss or... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 751 | 2 |
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of
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aims and goals, which may include espionage, monetary gain, disruption, and destruction. Similarly, there may be increased activities by organized or coordinating groups of cyber criminals who seek to attack larger organizations' data or systems for their own aims and goals, which can include finan... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 654 | 3 |
aims and goals, which may include espionage, monetary gain, disruption, and destruction. Similarly, there may be increased activities by organized or coordinating groups of cyber criminals who seek to attack larger organizations' data or systems for their own aims and goals, which can include financial gain. Because th... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 841 | 3 |
The ever-evolving cybersecurity threat landscape means that we and our third-party service providers and business partners must continually evaluate and adapt our respective systems and processes and overall security environment, as well as those of companies we or they acquire. There is no guarantee that the measures ... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 706 | 3 |
Data governance failures can also adversely affect our reputation and business. Our business depends on our customers', associates', job applicants', contractors', and business partners' willingness to entrust us with their personal information. Events that adversely affect that trust, including inadequate disclosure t... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 756 | 3 |
of
Contents
We rely on third parties to provide payment processing services, including the processing of credit cards, debit cards, and other forms of electronic payment. If these companies become unable to provide these services to us, or if their systems are compromised or do not operate as intended, it could disru... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 729 | 4 |
Trade credit offerings are an important part of serving Pros, including SRS customers, and we anticipate expanding our Pro House Account trade credit program as we further develop our capabilities. If we fail to offer attractive terms or services, or employ underwriting criteria that are not competitive, our ability to... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 717 | 4 |
Furthermore, the potential long-term impacts of climate change, whether involving physical risks (such as extreme weather conditions) or transition risks (such as regulatory or technology changes), could be widespread and unpredictable. These changes over time could affect, for example, the availability and cost of or ... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 580 | 3 |
Failure to achieve and maintain a high level of product and service quality and safety and ensure compliance with responsible sourcing laws and standards could damage our reputation with customers, expose us to litigation or enforcement actions, and negatively impact our sales and results of operations.
Product and se... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 687 | 3 |
, security, or responsible business practices, we could experience lost sales and increased costs and be exposed to legal, financial and reputational risks, as well as governmental enforcement actions. Actual, potential or perceived product safety or security concerns, including health- or privacy- related concerns, co... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 794 | 5 |
Table
of
Contents
If we are unable to effectively manage our installation services business, we could lose sales and be subject to fines, lawsuits, reputational damage or the loss of our general contractor licenses.
We act as a general contractor to provide installation services to our DIFM customers through profes... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 729 | 7 |
LEGAL, FINANCIAL, REGULATORY, GLOBAL AND OTHER EXTERNAL RISKS
Uncertainty regarding the housing and home improvement markets, economic conditions, political and social climate, public health issues, and other factors beyond our control could adversely affect demand for our products and services, our costs of doing bus... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 766 | 8 |
Table
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Contents
enforcement of, litigation regarding, or adoption of new federal, state, local or international laws, regulations and/or executive orders governing minimum wage or living wage requirements; the classification of exempt and non-exempt employees; the distinction between employees and contractors; div... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 540 | 3 |
In addition, regulators, customers, shareholders, associates, and other stakeholders are increasingly focusing on cybersecurity, data privacy, human capital management and sustainability matters and related disclosures. These changing rules, regulations and stakeholder expectations have resulted in, and are likely to c... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 800 | 3 |
of
Contents
The inflation or deflation of commodity and other prices could affect our prices, demand for our products, our sales and our profit margins.
Prices of certain commodity products, including lumber and other raw materials, are historically volatile and are subject to fluctuations arising from changes in do... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 791 | 6 |
We are involved in a number of legal proceedings and regulatory matters, including government inquiries and investigations, and consumer, employment, tort and other litigation that arise from time to time in the ordinary course of business. Litigation is inherently unpredictable, and the outcome of some of these procee... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 756 | 2 |
Net Sales.
Fiscal 2024 consisted of 53 weeks compared to 52 weeks in fiscal 2023. Net sales for fiscal 2024 increased $6.8 billion, or 4.5%, to $159.5 billion. The increase
in net s
ales for fiscal 2024 was primarily driven by SRS, which contributed $6.4 billion of net sales during fiscal 2024, and incremental net s... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 765 | 3 |
Selling, General & Administrative.
SG&A increased $2.2 billion, or 8.1%, to $28.7 billion in fiscal 2024. As a percent of net sales, SG&A was 18.0% in fiscal 2024 compared to 17.4% in fiscal 2023, which primarily reflects higher payroll costs, deleverage from a negative comparable sales environment and lower legal-rel... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 627 | 2 |
Return on Invested Capital
We believe ROIC is meaningful for management, investors and ratings agencies because it measures how effectively we deploy our capital base. ROIC is a non-GAAP profitability measure, not a measure of financial performance under GAAP. We define ROIC as NOPAT, a non-GAAP financial measure, for... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 795 | 4 |
LIQUIDITY AND CAPITAL RESOURCES
At February 2, 2025, we had $1.7 billion in cash and cash equivalents, of which $1.1 billion was held by our foreign subsidiaries. We believe that our current cash position, cash flow generated from operations, funds available from our commercial paper program, and access to the long-te... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 767 | 5 |
In June 2024, leading up to the acquisition of SRS on June 18, 2024, we raised commercial paper borrowings of over $15.0 billion to fund the transaction. On June 25, 2024, we received the proceeds from the issuance of $10.0 billion of long-term debt, as further discussed below, and immediately used the proceeds to repa... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 797 | 3 |
Note 3
to our consolidated financial statements for further discussion of our operating and finance leases.
PURCHASE OBLIGATIONS AND OTHER
Purchase obligations include all legally binding contracts such as firm commitments for inventory purchases, media and sponsorship spend, software and license commitments, and le... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 799 | 7 |
Cash used in financing activities in fiscal 2023 primarily reflected $8.4 billion of cash dividends paid, $8.0 billion of share repurchases, and $1.3 billion of repayments of long-term debt, partially offset by $2.0 billion of net proceeds from long-term debt.
The overall decrease in cash flows used in financing activ... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 699 | 3 |
The excess of the purchase price over fair values of identifiable assets acquired and liabilities assumed is recorded as goodwill. During the measurement period, which is up to one year from the acquisition date, we may record adjustments to the assets acquired and liabilities assumed with the corresponding offset to g... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 791 | 2 |
To the Stockholders and the Board of Directors
The Home Depot, Inc.:
Opinion on the Consolidated Financial Statements
We have audited the accompanying consolidated balance sheets of The Home Depot, Inc. and its subsidiaries (the Company) as of February 2, 2025 and January 28, 2024, the related consolidated statement... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 786 | 3 |
Table
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Contents
We identified the evaluation of the acquisition-date fair values of the customer relationships intangible assets acquired in the SRS business combination as a critical audit matter. A high degree of subjective auditor judgment was required to evaluate certain assumptions used in the valuation model... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 698 | 3 |
—————
Fiscal 2024 includes 53 weeks. Fiscal 2023 and fiscal 2022 include 52 weeks.
See accompanying notes to consolidated financial statements.
| Fiscal 2024 Form 10-K | 43 | |
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THE HOME DEPOT, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
1.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Bus... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 780 | 2 |
seven years
. Certain development costs not meeting the criteria for capitalization are expensed as incurred.
We evaluate our long-lived assets each quarter for indicators of potential impairment. Indicators of impairment include current period losses combined with a history of losses, our decision to relocate or clo... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 639 | 2 |
five-year
terms, and some of our leases include early termination options. The lease term used to calculate the right-of-use asset and lease liability at commencement includes the impacts of options to extend or terminate the lease when it is reasonably certain that we will exercise that option. When determining wheth... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 738 | 3 |
Intangible Assets, net
We amortize the cost of definite-lived intangible assets on a straight-line basis over their estimated useful lives, which range up to approximately
20
years, as this approximates the pattern of expected economic benefit. We evaluate our definite-lived intangible assets for impairment when evi... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 738 | 2 |
We recognize the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than
50
% likely of being realized. Changes in recognition or measurement are reflected in the period in which the cha... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 772 | 3 |
Note 2
which includes the disclosures resulting from our adoption of this guidance.
ASU No. 2022-04.
In September 2022, the FASB issued ASU No. 2022-04, "Liabilities—Supplier Finance Programs (Topic 405-50): Disclosure of Supplier Finance Program Obligations," to enhance the transparency of supplier finance programs... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 800 | 2 |
million. Interest on the 2064 notes is due semi-annually on June 25 and December 25 of each year, beginning on December 25, 2024.
•
Issuance costs for the June 2024 issuance totaled $
41
million.
Redemption.
Our floating rate notes are not redeemable prior to maturity. All of our fixed rate notes may be redeemed ... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 794 | 4 |
million and $
858
million, respectively, all of which are recognized in other long-term liabilities on our consolidated balance sheets.
All of our interest rate swap agreements designated as fair value hedges meet the shortcut method requirements under GAAP. Accordingly, the changes in the fair values of these agree... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 727 | 2 |
The following table presents our noncurrent deferred tax assets and noncurrent deferred tax liabilities, netted by tax jurisdiction, as presented on the consolidated balance sheets:
| in millions | Consolidated Balance Sheet Classification | | February 2, 2025 | | January 28, 2024 |
| Deferred tax assets | Other ass... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 670 | 3 |
n immaterial amount. We do not anticipate the resolution of these matters will result in a material change to our consolidated financial condition, results of operations, or cash flows.
Unrecognized Tax Benefits
The following table reconciles the beginning and ending amount of our gross unrecognized tax benefits:
| ... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 591 | 2 |
We have audited The Home Depot, Inc. and its subsidiaries' (the Company) internal control over financial reporting as of February 2, 2025, based on criteria established in
Internal Control – Integrated Framework (2013)
issued by the Committee of Sponsoring Organizations of the Treadway Commission. In our opinion, the... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 773 | 3 |
We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether effective internal control over financial reporting was maintained in all material respects. Our audit of internal control over financial reportin... | {
"ticker": "HD",
"year": "2025",
"source": "HD_10K_2025-02-02.html"
} | 761 | 2 |
FORWARD-LOOKING STATEMENTS.
Our public communications and filings we make with the U.S. Securities and Exchange Commission (SEC) may contain statements related to future, not past, events. These forward-looking statements often address our expected future business and financial performance and financial condition, and... | {
"ticker": "GE",
"year": "2024",
"source": "GE_10K_2024-12-31.html"
} | 762 | 6 |
•
downgrades of our credit ratings or ratings outlooks, or changes in rating application or methodology, and the related impact on our funding profile, costs, liquidity and competitive position;
•
capital or liquidity needs associated with our run-off insurance operations or mortgage portfolio in Poland (Bank BPH), ... | {
"ticker": "GE",
"year": "2024",
"source": "GE_10K_2024-12-31.html"
} | 729 | 2 |
International Trade Controls and Sanctions Compliance.
We are subject to various international trade controls and sanctions regulations from governments and regulatory bodies around the world. These include export controls (including the U.S. Export Administration Regulations (EAR) and the International Traffic in Arm... | {
"ticker": "GE",
"year": "2024",
"source": "GE_10K_2024-12-31.html"
} | 708 | 2 |
In the accompanying analysis of financial information, we sometimes use information derived from consolidated financial data but not presented in our financial statements prepared in accordance with GAAP. Certain of these data are considered "non-GAAP financial measures" under SEC rules. See the Non-GAAP Financial Meas... | {
"ticker": "GE",
"year": "2024",
"source": "GE_10K_2024-12-31.html"
} | 800 | 4 |
total revenue increased $6.2 billion, or 21%, compared to the year ended December 31, 2022. Equipment revenue increased, driven by higher commercial install and spare engine unit shipments. Services revenue increased, primarily due to increased commercial spare part shipments, higher internal shop visit volume,
increa... | {
"ticker": "GE",
"year": "2024",
"source": "GE_10K_2024-12-31.html"
} | 623 | 2 |
2024 FORM 10-K
Profit was $7.6 billion, a decrease of $2.8 billion. Profit margin was 19.7%, a decrease from 29.5%. Operating profit* was $7.3 billion, an increase of $1.7 billion. Operating profit margin* was 20.7%, an increase of 330 basis points. Continuing earnings (loss) per share was $6.09. Excluding the results... | {
"ticker": "GE",
"year": "2024",
"source": "GE_10K_2024-12-31.html"
} | 771 | 2 |
As of December 31, 2024
, RPO increased $17.6 billion, or 11%, from December 31, 2023, at Commercial Engines & Services, as a result of contract modifications and engines contracted under long-term service agreements that have now been put into service and from equipment orders outpacing revenue recognized, and at Def... | {
"ticker": "GE",
"year": "2024",
"source": "GE_10K_2024-12-31.html"
} | 549 | 2 |
. Our results in 2024 reflect robust demand for commercial air travel with departures up high-single digits during the year. We are in frequent communication with our airline, airframe and maintenance, repair and overhaul (MRO) customers about the outlook for commercial air travel, new aircraft production, fleet retire... | {
"ticker": "GE",
"year": "2024",
"source": "GE_10K_2024-12-31.html"
} | 760 | 3 |
9
For the year ended December 31, 2024, segment revenue was up $3.0 billion, or 13%, and segment profit was up $1.4 billion, or 25%, compared to the year ended December 31, 2023.
Revenue increased primarily due to higher spare parts volume, increased internal shop visit workscope, improved pricing and favorable custo... | {
"ticker": "GE",
"year": "2024",
"source": "GE_10K_2024-12-31.html"
} | 748 | 5 |
, RPO increased $16.8 billion, or 14%, from December 31, 2022, due to increases in both equipment and services. Equipment increased primarily due to an increase in engine orders outpacing revenue recognized. Services increased primarily as a result of engines contracted under long-term service agreements that have now ... | {
"ticker": "GE",
"year": "2024",
"source": "GE_10K_2024-12-31.html"
} | 398 | 2 |
10
2024 FORM 10-K
For the year ended December 31, 2024, segment revenue was up $0.5 billion, or 6%, and segment profit was up $0.2 billion, or 17%, compared to the year ended December 31, 2023.
Revenue increased in both D&S and P&AT. D&S revenue increased primarily due to services growth, improved pricing and additi... | {
"ticker": "GE",
"year": "2024",
"source": "GE_10K_2024-12-31.html"
} | 634 | 4 |
(a) Included costs of $363 million for the settlement of the Sjunde AP-Fonden shareholder lawsuit for the year ended December 31, 2024. See Note 24 for further information.
2024 FORM 10-K
11
Adjusted Corporate & Other operating costs* excludes gains (losses) on purchases and sales of business interests, gains (losse... | {
"ticker": "GE",
"year": "2024",
"source": "GE_10K_2024-12-31.html"
} | 730 | 4 |
Adjusted Corporate & Other operating costs* increased primarily due to higher EHS costs and higher intercompany eliminations primarily resulting from additional intercompany engine part sales volume in our Propulsion & Additive Technologies business partially offset by a reduction in our functional costs and favorabili... | {
"ticker": "GE",
"year": "2024",
"source": "GE_10K_2024-12-31.html"
} | 768 | 2 |
2024 FORM 10-K
For the year ended December 31, 2024, the adjusted effective income tax rate* was 20.1% compared to 23.9% for the year ended December 31, 2023. The adjusted provision for income taxes* was $1.3 billion in 2024 and $1.1 billion in 2023. The increase in tax was primarily due to the tax effect of the incre... | {
"ticker": "GE",
"year": "2024",
"source": "GE_10K_2024-12-31.html"
} | 764 | 3 |
The rate of tax on our profitable non-U.S. earnings is below the U.S. statutory rate because we have significant business operations subject to tax in countries where the tax rate on that income is lower than the U.S. statutory rate. Most of these earnings have been reinvested in active non-U.S. business operations. Du... | {
"ticker": "GE",
"year": "2024",
"source": "GE_10K_2024-12-31.html"
} | 799 | 4 |
We maintain a strong focus on liquidity and define our liquidity risk tolerance based on sources and uses to maintain a sufficient liquidity position to meet our business needs and financial obligations under both normal and stressed conditions. We believe that our consolidated liquidity and availability under our revo... | {
"ticker": "GE",
"year": "2024",
"source": "GE_10K_2024-12-31.html"
} | 747 | 3 |
Substantially all of the Company's debt agreements in place at December 31, 2024 do not contain material credit rating covenants. Our unused back-up revolving syndicated credit facility contains a customary net debt-to-EBITDA financial covenant, which we satisfied at December 31, 2024.
FOREIGN EXCHANGE RISK AND INTERE... | {
"ticker": "GE",
"year": "2024",
"source": "GE_10K_2024-12-31.html"
} | 774 | 5 |
$
1.2 billion compared to 2023, primarily due to: an increase in net income (after adjusting for depreciation of property, plant and equipment, amortization of intangible assets, goodwill impairments and non-cash (gains) losses related to our retained and sold ownership interests in GE HealthCare, AerCap and Baker Hug... | {
"ticker": "GE",
"year": "2024",
"source": "GE_10K_2024-12-31.html"
} | 737 | 3 |
$
0.6 billion compared to 2022, primarily due to: an increase in net income (after adjusting for depreciation of property, plant, and equipment, amortization of intangible assets and non-cash (gains) losses related to our retained and sold ownership interests in GE HealthCare, AerCap and Baker Hughes) primarily in our... | {
"ticker": "GE",
"year": "2024",
"source": "GE_10K_2024-12-31.html"
} | 684 | 4 |
2024 FORM 10-K
15
Cash from investing activities
was $7.7 billion in 2023, a decrease of $2.7 billion compared with 2022, primarily due to: higher cash paid related to net settlements between our continuing operations and businesses in discontinued operations of $6.3 billion, primarily related to lower cash received... | {
"ticker": "GE",
"year": "2024",
"source": "GE_10K_2024-12-31.html"
} | 730 | 4 |
We regularly assess expected billings adjustments and customer credit risk inherent in the carrying amounts of receivables and contract assets, including the risk that contractual penalties may not be sufficient to offset our accumulated investment in the event of customer termination. We gain insight into future utili... | {
"ticker": "GE",
"year": "2024",
"source": "GE_10K_2024-12-31.html"
} | 761 | 4 |
PENSION ASSUMPTIONS.
Refer to Note 13 for our accounting estimates and assumptions related to our postretirement benefit plans.
INCOME TAXES.
Our annual tax rate is based on our income, statutory tax rates and tax planning opportunities available to us in the various jurisdictions in which we operate. Tax laws are c... | {
"ticker": "GE",
"year": "2024",
"source": "GE_10K_2024-12-31.html"
} | 508 | 2 |
Our annual tax rate is based on our income, statutory tax rates and tax planning opportunities available to us in the various jurisdictions in which we operate. Tax laws are complex and subject to different interpretations by the taxpayer and respective governmental taxing authorities. Significant judgment is required ... | {
"ticker": "GE",
"year": "2024",
"source": "GE_10K_2024-12-31.html"
} | 860 | 3 |
We evaluate the recoverability of deferred income tax assets by assessing the adequacy of future expected taxable income from all sources, including reversal of taxable temporary differences, forecasted operating earnings and available tax planning strategies, which rely on reasonable estimates. We use our historical e... | {
"ticker": "GE",
"year": "2024",
"source": "GE_10K_2024-12-31.html"
} | 726 | 2 |
Our run-off insurance operations include Employers Reassurance Corporation (ERAC) and Union Fidelity Life Insurance Company (UFLIC). ERAC primarily assumed long-term care insurance and life insurance from numerous cedents under various types of reinsurance treaties and stopped accepting new policies after 2008. UFLIC p... | {
"ticker": "GE",
"year": "2024",
"source": "GE_10K_2024-12-31.html"
} | 695 | 2 |
. Our review incorporates our best estimates of projected future changes in the morbidity rates reflected in our base claim incidence rates. These estimates draw upon a number of inputs, some of which are subjective, and all of which are interpreted and applied in the exercise of professional actuarial judgment in the ... | {
"ticker": "GE",
"year": "2024",
"source": "GE_10K_2024-12-31.html"
} | 682 | 2 |
Included in Insurance losses and annuity benefits in our Statement of Earnings (Loss) for the years ended December 31, 2024 and 2023, are favorable and unfavorable pre-tax adjustments of $196 million and $(155) million, respectively, from updating the net premium ratio (i.e., the percentage of projected gross premiums ... | {
"ticker": "GE",
"year": "2024",
"source": "GE_10K_2024-12-31.html"
} | 723 | 6 |
Supplier risk assessments:
We have implemented a
third-party risk management process
that includes expectations regarding information and cybersecurity. That process, among other things, provides for GE Aerospace to perform cybersecurity assessments on certain suppliers based on an assessment of their risk profile a... | {
"ticker": "GE",
"year": "2024",
"source": "GE_10K_2024-12-31.html"
} | 664 | 3 |
2024 FORM 10-K
25
RISK FACTORS.
The following discussion of the material factors, events and uncertainties that may make an investment in the Company speculative or risky contains "forward-looking statements," as discussed in the Forward-Looking Statements section. These risk factors may be important to understandin... | {
"ticker": "GE",
"year": "2024",
"source": "GE_10K_2024-12-31.html"
} | 330 | 2 |
STRATEGIC RISKS.
Strategic risk relates to the Company's future business plans and strategies, including the risks associated with the global macro-environment; dynamics in the commercial aviation sector; competitive threats; the demand for our products and services and the success of our investments in technology and... | {
"ticker": "GE",
"year": "2024",
"source": "GE_10K_2024-12-31.html"
} | 788 | 8 |
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