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SEGMENT REPORTING AND NET SALES (Tables) | 9 Months Ended
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Oct. 27, 2024
Segment Reporting [Abstract] |
Summary of Segment, Reconciliation of Other Items from Segments to Consolidated | The following table presents a reconciliation of the results of our Primary segment to our consolidated totals:
| Three Months Ended |  | Nine Months Ended
| October 27, 2024 |  | October 27, 2024
in millions | Primary Segment |  | Other |  | Consolidated |  | Primary Segment |  | Other |  | Consolidated
Net sales | $ | 37,289 |  |  | $ | 2,928 |  |  | $ | 40,217 |  |  | $ | 115,608 |  |  | $ | 4,202 |  |  | $ | 119,810 |
Operating income (1) | 5,218 |  |  | 200 |  |  | 5,418 |  |  | 16,759 |  |  | 272 |  |  | 17,031 |
Interest income and other, net |  |  |  |  | (30) |  |  |  |  |  |  | (171) |
Interest expense |  |  |  |  | 625 |  |  |  |  |  |  | 1,683 |
Earnings before provision for income taxes |  |  |  |  | $ | 4,823 |  |  |  |  |  |  | $ | 15,519 |
————— (1)Includes intangible asset amortization expense of $52 million and $155 million for the three and nine months ended October 27, 2024, respectively, in our Primary segment, and intangible asset amortization expense of $86 million and $125 million for the three and nine months ended October 27, 2024, respectively, in Other.
Summary of Net Sales by Major Product Line | The following table presents our Primary segment major product lines and the related merchandising departments (and related services):
Major Product Line |  | Merchandising Departments
Building Materials |  | Building Materials, Electrical, Lumber, Millwork, and Plumbing
Décor |  | Appliances, Bath, Flooring, Kitchen & Blinds, Lighting, and Paint
Hardlines |  | Hardware, Indoor Garden, Outdoor Garden, Power, and Storage & Organization
The following table presents net sales by major product line (and related services), as well as Other net sales:
| Three Months Ended |  | Nine Months Ended
in millions | October 27, 2024 |  | October 29, 2023 |  | October 27, 2024 |  | October 29, 2023
Building Materials | $ | 13,479 |  |  | $ | 13,646 |  |  | $ | 40,028 |  |  | $ | 40,907 |
Décor | 12,682 |  |  | 13,091 |  |  | 38,617 |  |  | 39,658 |
Hardlines | 11,128 |  |  | 10,973 |  |  | 36,963 |  |  | 37,318 |
Primary segment net sales | 37,289 |  |  | 37,710 |  |  | 115,608 |  |  | 117,883 |
Other net sales (1) | 2,928 |  |  | — |  |  | 4,202 |  |  | — |
Net sales | $ | 40,217 |  |  | $ | 37,710 |  |  | $ | 119,810 |  |  | $ | 117,883 |
————— (1) Represents SRS net sales since the acquisition date of June 18, 2024. See discussion above for information on the components of Other net sales. Note: During the first quarter of fiscal 2024, we made certain changes to our merchandising department structure that realign certain merchandising departments across our major product lines. As a result, prior-year amounts have been reclassified to conform with the current-year presentation. These changes had no impact on consolidated net sales.
Summary of Net Sales, Classified by Geography | The following table presents net sales, classified by geography:
| Three Months Ended |  | Nine Months Ended
in millions | October 27, 2024 |  | October 29, 2023 |  | October 27, 2024 |  | October 29, 2023
Net sales – in the U.S. | $ | 37,135 |  |  | $ | 34,544 |  |  | $ | 110,217 |  |  | $ | 108,242 |
Net sales – outside the U.S. | 3,082 |  |  | 3,166 |  |  | 9,593 |  |  | 9,641 |
Net sales | $ | 40,217 |  |  | $ | 37,710 |  |  | $ | 119,810 |  |  | $ | 117,883 |
Summary of Net Sales by Products and Services | The following table presents net sales by products and services:
| Three Months Ended |  | Nine Months Ended
in millions | October 27, 2024 |  | October 29, 2023 |  | October 27, 2024 |  | October 29, 2023
Net sales – products | $ | 38,692 |  |  | $ | 36,156 |  |  | $ | 115,375 |  |  | $ | 113,405 |
Net sales – services | 1,525 |  |  | 1,554 |  |  | 4,435 |  |  | 4,478 |
Net sales | $ | 40,217 |  |  | $ | 37,710 |  |  | $ | 119,810 |  |  | $ | 117,883 |

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