Balance Sheet

In 2Q10, HD had $2,395 million in cash and short-term investments versus $1,421 million in 2Q09. Merchandise inventories were $10.8 billion versus $10.2 billion in 2Q09. Total current assets were $15.8 billion versus $13.9 billion in 2Q09.

In 2Q10, long-term debt was $7,727.0 million versus $8,662.0 million in 2Q09. Total current liabilities were $12.7 billion versus $10.4 billion in 2Q09. Shareholders equity was $19.4 billion versus $19.4 billion in 2Q09.

Cash Flow

As per Zacks Digest model, Net cash provided in operating activities was $1,324.0 million in 2Q10 versus $1,602.4 million in 2Q09. Net cash used in investing activities was $223.0 million in 2Q10 versus $131.0 million in 2Q09. Net cash used in financing activities was $1,139.0 million in 2Q10 versus $579.3 million in 2Q09.

Share Repurchase

In the first half of 2010, Home Depot repurchased $1.2 billion shares, and management expects to repurchase as much as $3 billion shares in 2010.

Stores Update

The Home Depot exited the quarter with a total of 2,244 stores, which include 1,976 in the U.S. and Puerto Rico, 179 in Canada, 80 in Mexico and 9 in China.

During the quarter, the Company opened 1 new store in Mexico and closed 1 store in China.

The Home Depot plans to open 7 new stores (5 net of closings) in 2010, including 1 in the U.S. and the remainder in Mexico. They have added one additional store in Mexico to their opening schedule in 2010.