MIRA INFORM REPORT

 

 

Report Date :           

20.12.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

THE HOME DEPOT INC

 

 

Registered Office :

2711 Centerville Road Suite 400 Wilmington, New Castle DE 19808 

 

 

Country :

United States 

 

 

Financials (as on) :

30.01.2011

 

 

Date of Incorporation :

29.06.1978

 

 

Com. Reg. No.:

0856429

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

Home Improvement Stores

 

 

No. of Employees :

321000 persons

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

3,000,000 USD.

Status :

Satisfactory

Payment Behaviour :

No Complaints

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

United States 

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

GEOPOLITICS - UNITED STATES

 

POLITICAL DATA

ECONOMIC DATA

Form of Government: Federal


Economic Risk: Nil

Currency: USD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Ordered as:

Home Decorators Collection

Address in the order:

A Unit of Home Depot USA INC

2455 Paces Ferry Road Atlanta, GA 30339

United States

Comments on data supplied:

Home Decorators Collection is a non incorporated business of THE HOME DEPOT INC.

Legal Name:

THE HOME DEPOT INC

 

 

Legal Address

2711 Centerville Road Suite 400 Wilmington, New Castle DE 19808  (registered agent\'s address.

 

Operative Address

2455 Paces Ferry Road NW

Atlanta, GA 30339

United States

Telephone:

+1 (770) 433-8211 / +1 (314) 521-6178

Registration Number :

0856429

Fax:

+1 (770) 431-2685

Legal Form:

Corporation for Profit

Email:

N.A.

Registered in:

Delaware

Website:

www.homedepot.com  

Date Created:

1978

Manager:

Francis S. Blake

Date Incorporated:

June 29th, 1978

Staff:

321,000

Stock:

1,541,568,417 shares

 

 

Value:

USD 62.50 billion

Activity:

Home Improvement Stores

 

 

BANKS

 

Name of the Bank

BANK OF NEW YORK

Name of the Bank

Federal Reserve Bank of Atlanta

 

 

BUSINESS

 

HISTORY

 

The company was founded in 1978.

PRINCIPAL ACTIVITY

 

This company together with its subsidiaries, operates as a home improvement retailer. The company's stores sell a range of building materials, home improvement products, and lawn and garden products to do-it-yourself, do-it-for-me, and professional customers.

Products/Services description:

 

Kitchen Appliances

Laundry and Clothing Care

Vacuums and Floor Care

Building Materials

Doors and Windows

Bath and lectrical materials

Among others.

Sales are:

 

Retail

Clients:

 

General Clientele.

Suppliers:

 

Husky

Crown Bolt

Tradesman Truck Accesories

Picnic time

Exito

Operations area:

 

National, International

The company export to Canada, China, Mexico

Competitors:

 

Inter IKEA Systems B.V.

Bed Bath & Beyond Inc.

MEUBLES IKEA FRANCE

IKEA Deutschland GmbH & Co. KG

NITORI HOLDINGS CO.,LTD.

The subject employs 321 000 employee(s)

PAYMENTS

 

regular

LOCATION

Headquarters

 

2455 Paces Ferry Road NW

Atlanta, GA 30339

United States

Comments on location:

 

Tee subject is incorporated in Delaware for tax purposes, however its headquartered in Georgia.

Branches:

 

There are 1972 branches for this company:

 

Sunset #6616: 5600 Sunset Blvd

Hollywood, CA 90028

 

N Hollywood #6613: 11600 Sherman Way

North Hollywood, CA 91605

 

Manhattan 59th Street #6177: 980 3rd Ave

New York, NY 10022

 

Long Island City #1255: 50-10 Northern Blvd

Long Island City, NY 11101

 

Jersey City,NJ #6845: 180 Twelfth Street

Jersey City, NJ 07310

 




Shareholders - Manager - Related Companies

 

Listed at the stock exchange:

 

YES

Capital:

 

% of Shares Held by All Insider and 5% Owners:  0%

% of Shares Held by Institutional & Mutual Fund Owners:  71%

% of Float Held by Institutional & Mutual Fund Owners:     71%

Number of Institutions Holding Shares:     1052

Shareholders Parent Company(ies):

 

Major Direct Holders:

 

BATCHELDER DAVID H

TOME CAROL B

BLAKE FRANCIS S

VERSCHUREN ANNETTE M

SALVIDAR RICARDO

 

Top Institutional Holders:

 

Capital Research Global Investors

STATE STREET CORPORATION

VANGUARD GROUP, INC. (THE)

BlackRock Institutional Trust Company, N.A.

Capital World Investors  

WELLINGTON MANAGEMENT COMPANY, LLP

DODGE & COX INC      

FMR LLC         

PRICE (T.ROWE) ASSOCIATES INC

NORTHERN TRUST CORPORATION

 

Top Mutual Fund Holders:

 

GROWTH FUND OF AMERICA INC

FUNDAMENTAL INVESTORS INC

INCOME FUND OF AMERICA INC

WASHINGTON MUTUAL INVESTORS FUND

INVESTMENT COMPANY OF AMERICA

AMERICAN BALANCED FUND  

CAPITAL WORLD GROWTH AND INCOME FUND

VANGUARD TOTAL STOCK MARKET INDEX FUND

VANGUARD 500 INDEX FUND

DODGE & COX STOCK FUND

Management:

 

Board of Directors:

 

Frank Blake - Chairman and CEO The Home Depot

F. Duane Ackerman

Ari Bousbib

Gregory D. Brenneman

J. Frank Brown

Albert  (AI) Carey

Armando Codina

Bonnie G. Hill

Ronald L. Sargent

 

Management:

 

Francis S. Blake - Chairman and Chief Executive Officer

Carol B. Tomé - Chief Financial Officer and Executive Vice President – Corporate Services

MATTHEW A. CAREY - Executive Vice President and Chief Information Officer

TIMOTHY M. CROW - Executive Vice President – Human Resources

MARVIN R. ELLISON - been Executive Vice President – U.S. Stores

CRAIG A. MENEAR - Executive Vice President – Merchandising

JACK A. VANWOERKOM - Executive Vice President, General Counsel and Corporate Secretary

Related Companies:

 

The company has several subsidiaries, including:

 

Home Depot International, Inc.

Home Depot U.S.A., Inc.

HD Development of Maryland, Inc.

The Home Depot Canada

 

Financials - COMMERCIAL TRENDS AND FORECAST

 

The subject is a public company traded at the stock exchange NYSE under ticker symbol "HD". Please find enclosed the financial statements.

We have contacted the receptionist who refused to provide us any financial data on grounds of confidentiality, without knowing the name of the inquiring party.

Legal Fillings

 There are several UCC** files listed with the Secretaries of State of Georgia and Delaware.

 

 

 

There are various claims, lawsuits, and pending actions against the Company and its subsidiaries incident to the operations of its businesses. It is the opinion of management, after consultation with counsel, that the ultimate resolution of such claims, lawsuits and pending actions will not have a material adverse effect on the Company's consolidated financial position, results of operations or liquidity.

 

The last annual report was filed on 3/24/2011.

 

THE COMPANY IS NOT LISTED ON THE OFAC LIST.*

 

 

For information:

 

* The Specially Designated Nationals (SDN) List is a publication of OFAC which lists individuals and organizations with whom United States citizens and permanent residents are prohibited from doing business.

 

 

** The Uniform Commercial Code (UCC) is one of a number of uniform acts that have been promulgated in conjunction with efforts to harmonize the law of sales and other commercial transactions in all 50 states within the United States of America. 

 

The UCC deals primarily with transactions involving personal property (movable property), not real property (immovable property).

 

It allows a creditor to notify other creditors about a debtor’s assets used as collateral for a secured transaction by filing a public notice (financing statement) with a particular filing office.

 

The Uniform Commercial Code Bureau files and maintains records on financial obligations (including IRS liens) incurred by individuals (in business as a sole proprietor), business entities and corporations.

 




Rating

 

Local credit bureau gave a good credit rate.

 

The company is in Good Standing. This means that all local and federal taxes were paid on due date.

 

 

 Final Opinion

 

the company operates in the retail of home products.

 

It has 33 years in the business.

 

It is a very large sized American company, evolving in a stable sector.

 

it is very well established and very well known in the USA, with several stores and brands.

 

The profitability is correct, the indebtedness is controlled, cash is good and payments are regular.

 

A credit line may be considered for 3,000,000 USD.

 



SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

CORRECT

Public

YES

 

Indebtedness

CONTROLLED

Payments

REGULAR

 

Cash

GOOD

 

 

 



APPENDIX

 

Person Interviewed

 

Operator at The Home Depot Inc's administrative offices.

Comments

 

She just confirmed that Home Decorators Collection is a non incorporated business unit of The Home Depot inc.

She was not allowed to disclose any other data.

 

 

Financials

 

ANNUAL INCOME STATEMENT

 

 

 

All numbers in thousands

 

Period Ending

Jan 30, 2011

Jan 31, 2010

Feb 1, 2009

Total Revenue

67,997,000  

66,176,000  

71,288,000  

Cost of Revenue

44,693,000  

43,764,000  

47,298,000  

 

Gross Profit

23,304,000  

22,412,000  

23,990,000  

 

 

Operating Expenses

 

Research Development

-  

-  

-  

 

Selling General and Administrative

15,849,000  

15,902,000  

17,846,000  

 

Non Recurring

-  

-  

-  

 

Others

1,616,000  

1,707,000  

1,785,000  

 

 

 

Total Operating Expenses

-  

-  

-  

 

 

 

 

 

Operating Income or Loss

5,839,000  

4,803,000  

4,359,000  

 

 

 

 

Income from Continuing Operations

 

 

Total Other Income/Expenses Net

(36,000)

(145,000)

(145,000)

 

 

Earnings Before Interest And Taxes

5,803,000  

4,658,000  

4,214,000  

 

 

Interest Expense

530,000  

676,000  

624,000  

 

 

Income Before Tax

5,273,000  

3,982,000  

3,590,000  

 

 

Income Tax Expense

1,935,000  

1,362,000  

1,278,000  

 

 

Minority Interest

-  

-  

-  

 

 

 

 

Net Income From Continuing Ops

3,338,000  

2,620,000  

2,312,000  

 

 

 

 

Non-recurring Events

 

 

Discontinued Operations

-  

41,000  

(52,000)

 

 

Extraordinary Items

-  

-  

-  

 

 

Effect Of Accounting Changes

-  

-  

-  

 

 

Other Items

-  

-  

-  

 

 

 

 

 

Net Income

3,338,000  

2,661,000  

2,260,000  

 

Preferred Stock And Other Adjustments

-  

-  

-  

 

 

 

Net Income Applicable To Common Shares

3,338,000  

2,661,000  

2,260,000  

 

Currency in USD.

 

 

QUARTERLY INCOME STATEMENT

 

 

 

All numbers in thousands

 

Period Ending

Oct 30, 2011

Jul 31, 2011

May 1, 2011

Jan 30, 2011

Total Revenue

17,326,000  

20,232,000  

16,823,000  

15,126,000  

Cost of Revenue

11,365,000  

13,356,000  

10,995,000  

9,883,000  

 

Gross Profit

5,961,000  

6,876,000  

5,828,000  

5,243,000  

 

 

Operating Expenses

 

Research Development

-  

-  

-  

-  

 

Selling General and Administrative

3,956,000  

4,186,000  

4,009,000  

3,807,000  

 

Non Recurring

-  

-  

-  

-  

 

Others

390,000  

396,000  

397,000  

399,000  

 

 

 

Total Operating Expenses

-  

-  

-  

-  

 

 

 

 

 

Operating Income or Loss

1,615,000  

2,294,000  

1,422,000  

1,037,000  

 

 

 

 

Income from Continuing Operations

 

 

Total Other Income/Expenses Net

4,000  

3,000  

2,000  

4,000  

 

 

Earnings Before Interest And Taxes

1,619,000  

2,297,000  

1,424,000  

1,041,000  

 

 

Interest Expense

162,000  

149,000  

141,000  

91,000  

 

 

Income Before Tax

1,457,000  

2,148,000  

1,283,000  

950,000  

 

 

Income Tax Expense

523,000  

785,000  

471,000  

363,000  

 

 

Minority Interest

-  

-  

-  

-  

 

 

 

 

Net Income From Continuing Ops

934,000  

1,363,000  

812,000  

587,000  

 

 

 

 

Non-recurring Events

 

 

Discontinued Operations

-  

-  

-  

-  

 

 

Extraordinary Items

-  

-  

-  

-  

 

 

Effect Of Accounting Changes

-  

-  

-  

-  

 

 

Other Items

-  

-  

-  

-  

 

 

 

 

 

Net Income

934,000  

1,363,000  

812,000  

587,000  

 

Preferred Stock And Other Adjustments

-  

-  

-  

-  

 

 

 

Net Income Applicable To Common Shares

934,000  

1,363,000  

812,000  

587,000  

 

Currency in USD.

 

 

BALANCE SHEET

 

 

All numbers in thousands

 

Period Ending

Oct 30, 2011

Jul 31, 2011

May 1, 2011

Jan 30, 2011

 

Assets

Current Assets

 

Cash And Cash Equivalents

2,234,000  

2,551,000  

1,806,000  

545,000  

 

Short Term Investments

-  

-  

-  

-  

 

Net Receivables

1,384,000  

1,332,000  

1,456,000  

1,085,000  

 

Inventory

10,717,000  

10,756,000  

11,694,000  

10,625,000  

 

Other Current Assets

1,143,000  

1,218,000  

1,205,000  

1,224,000  

 

Total Current Assets

15,478,000  

15,857,000  

16,161,000  

13,479,000  

Long Term Investments

-  

-  

-  

139,000  

Property Plant and Equipment

24,532,000  

24,798,000  

24,993,000  

25,060,000  

Goodwill

1,072,000  

1,177,000  

1,209,000  

1,187,000  

Intangible Assets

-  

-  

-  

-  

Accumulated Amortization

-  

-  

-  

-  

Other Assets

417,000  

445,000  

434,000  

260,000  

Deferred Long Term Asset Charges

-  

-  

-  

-  

 

Total Assets

41,499,000  

42,277,000  

42,797,000  

40,125,000  

 

Liabilities

Current Liabilities

 

Accounts Payable

9,389,000  

9,725,000  

10,167,000  

7,903,000  

 

Short/Current Long Term Debt

44,000  

44,000  

43,000  

1,042,000  

 

Other Current Liabilities

1,153,000  

1,178,000  

1,248,000  

1,177,000  

 

Total Current Liabilities

10,586,000  

10,947,000  

11,458,000  

10,122,000  

Long Term Debt

10,739,000  

10,731,000  

10,720,000  

8,707,000  

Other Liabilities

2,205,000  

2,136,000  

2,184,000  

2,135,000  

Deferred Long Term Liability Charges

200,000  

230,000  

237,000  

272,000  

Minority Interest

-  

-  

-  

-  

Negative Goodwill

-  

-  

-  

-  

 

Total Liabilities

23,730,000  

24,044,000  

24,599,000  

21,236,000  

 

Stockholders' Equity

Misc Stocks Options Warrants

-  

-  

-  

-  

Redeemable Preferred Stock

-  

-  

-  

-  

Preferred Stock

-  

-  

-  

-  

Common Stock

86,000  

86,000  

86,000  

86,000  

Retained Earnings

16,917,000  

16,372,000  

15,404,000  

14,995,000  

Treasury Stock

(6,294,000)

(5,493,000)

(4,274,000)

(3,193,000)

Capital Surplus

6,698,000  

6,665,000  

6,369,000  

6,556,000  

Other Stockholder Equity

362,000  

603,000  

613,000  

445,000  

 

Total Stockholder Equity

17,769,000  

18,233,000  

18,198,000  

18,889,000  

 

Net Tangible Assets

16,697,000  

17,056,000  

16,989,000  

17,702,000  

 

 

Currency in USD.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.96

UK Pound

1

Rs.82.04

Euro

1

Rs.68.91

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.