Home Depot 2015 Annual Report Download - page 33

Download and view the complete annual report

Please find page 33 of the 2015 Home Depot annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 91

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91

Table of Contents
31
Report of Independent Registered Public Accounting Firm
The Board of Directors and Stockholders
The Home Depot, Inc.:
We have audited the accompanying Consolidated Balance Sheets of The Home Depot, Inc. and subsidiaries as of January 31,
2016 and February 1, 2015, and the related Consolidated Statements of Earnings, Comprehensive Income, Stockholders’
Equity, and Cash Flows for each of the fiscal years in the three-year period ended January 31, 2016. These Consolidated
Financial Statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on
these Consolidated Financial Statements based on our audits.
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United
States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts
and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits
provide a reasonable basis for our opinion.
In our opinion, the Consolidated Financial Statements referred to above present fairly, in all material respects, the financial
position of The Home Depot, Inc. and subsidiaries as of January 31, 2016 and February 1, 2015, and the results of their
operations and their cash flows for each of the fiscal years in the three-year period ended January 31, 2016, in conformity
with U.S. generally accepted accounting principles.
As discussed in Note 2 to the Consolidated Financial Statements, the Company has changed its accounting policy to include
shipping and handling costs from the Company’s stores, locations or distribution centers to customers and for online
fulfillment center costs within cost of sales, beginning in the first quarter of fiscal 2015. This change in accounting principle
has been retrospectively applied to the accompanying Consolidated Financial Statements for the fiscal years ended February
1, 2015 and February 2, 2014.
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States),
The Home Depot, Inc.’s internal control over financial reporting as of January 31, 2016, based on criteria established in
Internal Control – Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway
Commission (COSO), and our report dated March 24, 2016 expressed an unqualified opinion on the effectiveness of the
Company’s internal control over financial reporting.
/s/ KPMG LLP
Atlanta, Georgia
March 24, 2016