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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Lowes Companies Inc | NYSE:LOW | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-0.47 | -0.21% | 227.52 | 230.99 | 225.47 | 227.36 | 1,713,956 | 01:00:00 |
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ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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For the year ended December 31, 2015
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or
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o
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TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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For the transition period from ____ to ____
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Commission file number
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1-7898
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Page No.
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Supplemental Schedules as of and for the year ended December 31, 2015
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NOTE:
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All other supplemental schedules required by Section 2520.103-10 of the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974 have been omitted because they are not applicable.
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December 31, 2015
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December 31, 2014
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Assets
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Cash
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$
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—
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$
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1,026,920
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Participant-directed investments at fair value
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5,213,036,141
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5,141,708,127
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Participant-directed investments at contract value
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237,717,582
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230,289,137
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Due from broker for securities sold
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5,422,665
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2,532,289
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Total assets
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5,456,176,388
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5,375,556,473
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Liabilities
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Due to broker for securities purchased
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3,298,187
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2,992,066
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Cash overdraft
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1,222,056
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—
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Total liabilities
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4,520,243
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2,992,066
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Net assets available for benefits
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$
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5,451,656,145
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$
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5,372,564,407
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Year Ended
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December 31, 2015
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Additions
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Investment income:
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Net appreciation in fair value of investments
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$
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277,929,741
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Dividends
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47,308,674
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Interest
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4,649,952
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Total investment income
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329,888,367
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Contributions:
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Participant contributions
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253,188,928
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Employer contributions
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152,300,532
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Total contributions
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405,489,460
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Total additions
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735,377,827
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Deductions
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Benefits paid to participants
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656,286,089
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Total deductions
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656,286,089
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Net increase in net assets
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79,091,738
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Net assets available for benefits
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Beginning of year
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$
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5,372,564,407
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End of year
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$
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5,451,656,145
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•
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Level 1 – inputs to the valuation techniques that are quoted prices in active markets for identical assets or liabilities
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•
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Level 2 – inputs to the valuation techniques that are other than quoted prices but are observable for the assets or liabilities, either directly or indirectly
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•
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Level 3 – inputs to the valuation techniques that are unobservable for the assets or liabilities
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Fair Value Measurements at
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Measurement Level
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December 31, 2015
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December 31, 2014
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Common stocks
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Level 1
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$
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3,074,045,736
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$
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3,367,779,661
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Collective trusts
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Level 2
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2,138,990,405
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920,410,003
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Mutual funds
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Level 1
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—
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852,882,791
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Corporate bonds
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Level 1
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—
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635,672
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Participant-directed investments at fair value
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$
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5,213,036,141
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$
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5,141,708,127
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1.
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Common stock
– Valued based upon the closing price reported on the recognized securities exchange on which the individual security is traded.
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2.
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Collective trusts
– Net asset values are used as a practical expedient to determine the fair value. Net asset value is based on the fair value of the underlying investments held by the fund less its liabilities. Participant transactions (purchases and sales) may occur daily. The Plan can redeem these investments daily. There are no restrictions on redemptions.
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3.
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Mutual funds
– Valued at the daily closing price as reported by the fund. Mutual funds held by the Plan are open-end mutual funds that are registered with the U.S. Securities and Exchange Commission. These funds are required to publish their daily net asset value and to transact at that price. The mutual funds held by the Plan are deemed to be actively traded.
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4.
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Corporate bonds
– Valued at quoted prices in active markets for identical bonds.
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December 31, 2015
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December 31, 2014
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Synthetic investment contracts
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$
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182,410,884
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$
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180,113,554
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Separate account guaranteed investment contract
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55,306,698
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50,175,583
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Total
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$
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237,717,582
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$
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230,289,137
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•
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A substantive modification of the Fund or its administration;
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•
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The complete or partial termination of the Plan or its merger with another plan;
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•
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The transfer of assets from the Fund directly into a competing investment option;
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•
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The redemption of all or a portion of the interest in the Fund due to the removal of a specifically identifiable group of employees from coverage under the Plan;
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•
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The closing or sale of a subsidiary;
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•
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The bankruptcy or insolvency of a Plan Sponsor;
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•
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The merger of the Plan with another plan;
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•
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The Plan Sponsor’s establishment of another tax qualified defined contribution plan.
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•
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An uncured violation of the Plan’s investment guidelines;
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•
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A breach of material obligation under the contract;
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•
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A material misrepresentation;
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•
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A material amendment to the agreements without the consent of the issuer.
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December 31, 2015
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December 31, 2014
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Net assets available for benefits per the financial statements
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$
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5,451,656,145
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$
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5,372,564,407
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Adjustment from contract value to fair value for fully benefit-responsive investment contracts
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2,087,171
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4,323,637
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Total net assets per the Plan’s Form 5500
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$
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5,453,743,316
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$
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5,376,888,044
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December 31, 2015
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December 31, 2014
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Net increase in net assets available for benefits per the financial statements
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$
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79,091,738
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$
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883,717,549
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Net change in adjustment from contract value to fair value for fully benefit-responsive investment contracts
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(2,236,466
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)
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4,323,637
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Net income per the Plan’s Form 5500
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$
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76,855,272
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$
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888,041,186
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Identity of Issue, Borrower, Lessor, or Similar Party
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Description of Investment, Including Maturity Date, Rate of Interest, Collateral, Par or Maturity Value
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Cost
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Current Value
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EMPLOYER-RELATED INVESTMENTS:
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*Lowe’s Companies, Inc.
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Common Stock
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**
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$
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3,074,045,736
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Total employer-related investments
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3,074,045,736
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COLLECTIVE TRUSTS:
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*Aon Hewitt Growth Fund
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Collective Trust
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**
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1,074,535,128
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*Aon Hewitt Income Fund
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Collective Trust
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**
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48,914,702
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*Aon Hewitt Inflation Strategy Fund
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Collective Trust
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**
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2,117,499
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Vanguard Target Retirement Trust Plus Income
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Collective Trust
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**
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29,827,407
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Vanguard Target Retirement Trust Plus 2060
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Collective Trust
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**
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3,218,373
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Vanguard Target Retirement Trust Plus 2055
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Collective Trust
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**
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30,689,101
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Vanguard Target Retirement Trust Plus 2050
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Collective Trust
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**
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133,679,655
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Vanguard Target Retirement Trust Plus 2045
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Collective Trust
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**
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100,881,300
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Vanguard Target Retirement Trust Plus 2040
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Collective Trust
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**
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94,586,053
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Vanguard Target Retirement Trust Plus 2035
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Collective Trust
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**
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112,622,601
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Vanguard Target Retirement Trust Plus 2030
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Collective Trust
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**
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121,464,144
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Vanguard Target Retirement Trust Plus 2025
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Collective Trust
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**
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143,083,494
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Vanguard Target Retirement Trust Plus 2020
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Collective Trust
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**
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124,683,086
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Vanguard Target Retirement Trust Plus 2015
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Collective Trust
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**
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54,345,848
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Vanguard Target Retirement Trust Plus 2010
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Collective Trust
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**
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23,066,220
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Total collective trusts
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2,097,714,611
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SEPARATELY MANAGED ACCOUNTS:
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Capital Preservation Fund:
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*Wells Fargo Fixed Income Fund E
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Collective Trust
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**
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18,648,272
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*Wells Fargo Fixed Income Fund F
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Collective Trust
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**
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90,282,109
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*Wells Fargo Fixed Income Fund M
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Collective Trust
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**
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24,894,522
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*Wells Fargo Fixed Income Fund N
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Collective Trust
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**
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27,376,080
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*Wells Fargo Fixed Income Fund Q
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Collective Trust
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**
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23,297,072
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*Wells Fargo /BlackRock Short-Term Investment Fund S
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Collective Trust
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**
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41,275,794
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Metropolitan Life Insurance Company
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Insurance Company General Account
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**
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55,306,698
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Total Capital Preservation Fund
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281,080,547
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Total investments***
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$
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5,452,840,894
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***
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All investments were stated at fair value as of December 31, 2015 with the exception of one underlying investment of the Capital Preservation Fund, which is held in the general account of Metropolitan Life Insurance Company and, therefore, is stated at contract value.
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Total that Constitute Nonexempt Prohibited Transactions
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||||||||||
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Participant Contributions Transferred Late to the Plan
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Contributions Not Corrected
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Contributions Corrected Outside VFCP
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Contributions Pending Correction in VFCP
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Total Fully Corrected under VFCP and PTE 2002-51
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||||||||
o
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Check here if late participant loan contributions are included
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$
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—
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$
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9
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$
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—
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$
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—
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LOWE’S 401(k) PLAN
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June 27, 2016
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By: /s/ Matthew V. Hollifield
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Date
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Matthew V. Hollifield
Senior Vice President and Chief Accounting Officer
|
EXHIBIT INDEX
|
||
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|
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Exhibit No.
|
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Description
|
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23
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Consent of Independent Registered Public Accounting Firm
|
1 Year Lowes Companies Chart |
1 Month Lowes Companies Chart |
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