Home Depot Terminates Material Definitive Agreement
Ticker: HD · Form: 8-K · Filed: Dec 19, 2024 · CIK: 354950
| Field | Detail |
|---|---|
| Company | Home Depot, INC. (HD) |
| Form Type | 8-K |
| Filed Date | Dec 19, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.05, $1.0 billion, $3.5 billion, $2.0 billion, $7.0 billion |
| Sentiment | neutral |
Sentiment: neutral
Topics: agreement-termination, material-event
Related Tickers: HD
TL;DR
HD terminated a big deal, details TBD.
AI Summary
On December 18, 2024, The Home Depot, Inc. filed an 8-K to report the termination of a material definitive agreement. The filing also noted other events, but specific details regarding the agreement or other events were not immediately available in the provided text.
Why It Matters
The termination of a material definitive agreement could signal a change in strategic partnerships or significant business arrangements for Home Depot, potentially impacting future operations or financial performance.
Risk Assessment
Risk Level: medium — Termination of a material definitive agreement can indicate underlying issues or strategic shifts that may carry financial or operational risks.
Key Players & Entities
- The Home Depot, Inc. (company) — Registrant
- December 18, 2024 (date) — Date of Earliest Event Reported
- 2455 Paces Ferry Road (location) — Principal Executive Offices Address
- Atlanta (location) — City of Principal Executive Offices
- Georgia (location) — State of Principal Executive Offices
- 30339 (location) — Zip Code of Principal Executive Offices
- 770-433-8211 (phone_number) — Registrant's Telephone Number
FAQ
What was the specific material definitive agreement that The Home Depot, Inc. terminated?
The provided filing excerpt does not specify the details of the material definitive agreement that was terminated.
When did the termination of the material definitive agreement become effective?
The filing indicates that December 18, 2024, is the date of the earliest event reported, which includes the termination of a material definitive agreement.
Are there any financial implications mentioned regarding the termination of this agreement?
The provided text does not contain information about the financial implications of the agreement's termination.
What other events are being reported by The Home Depot, Inc. in this 8-K filing?
The filing states that it is reporting 'Other Events' in addition to the termination of a material definitive agreement, but the specifics of these other events are not detailed in the excerpt.
Where are The Home Depot, Inc.'s principal executive offices located?
The Home Depot, Inc.'s principal executive offices are located at 2455 Paces Ferry Road, Atlanta, Georgia 30339.
Filing Stats: 609 words · 2 min read · ~2 pages · Grade level 11 · Accepted 2024-12-19 16:49:40
Key Financial Figures
- $0.05 — ange on which registered Common Stock, $0.05 Par Value Per Share HD New York Stock E
- $1.0 billion — ot, Inc. (the "Company") entered into a $1.0 billion three-year revolving credit facility ag
- $3.5 billion — he "Three-Year Credit Facility"), and a $3.5 billion 364-day revolving credit facility agree
- $2.0 billion — ay Credit Facility from $3.5 billion to $2.0 billion in accordance with its terms. Following
- $7.0 billion — per program allows for borrowings up to $7.0 billion and is supported by $7.0 billion of rev
Filing Documents
- hd-20241218.htm (8-K) — 25KB
- 0000354950-24-000260.txt ( ) — 145KB
- hd-20241218.xsd (EX-101.SCH) — 2KB
- hd-20241218_lab.xml (EX-101.LAB) — 21KB
- hd-20241218_pre.xml (EX-101.PRE) — 12KB
- hd-20241218_htm.xml (XML) — 3KB
02 Termination of a Material Definitive Agreement
Item 1.02 Termination of a Material Definitive Agreement. As previously reported, The Home Depot, Inc. (the "Company") entered into a $1.0 billion three-year revolving credit facility agreement, dated as of May 7, 2024, among the Company, the banks party thereto, and JPMorgan Chase Bank, N.A., as administrative agent (the "Three-Year Credit Facility"), and a $3.5 billion 364-day revolving credit facility agreement, dated as of May 7, 2024, among the Company, the banks party thereto, and JPMorgan Chase Bank, N.A., as administrative agent (the "364-Day Credit Facility" and together with the Three-Year Credit Facility, the "Credit Facilities"). The Company entered into the Credit Facilities to allow for borrowings for general corporate purposes, including to support the Company's expanded commercial paper program in connection with the financing of the Company's acquisition of SRS Distribution Inc., which closed on June 18, 2024. Effective December 18, 2024, the Company terminated the Three-Year Credit Facility after determining that it was no longer necessary. There were no borrowings under the Three-Year Credit Facility.
01 Other Events
Item 8.01 Other Events. On the same date, the Company reduced the aggregate commitments under the 364-Day Credit Facility from $3.5 billion to $2.0 billion in accordance with its terms. Following the termination of the Three-Year Credit Facility and the reduction of commitments under the 364-Day Facility, the Company's commercial paper program allows for borrowings up to $7.0 billion and is supported by $7.0 billion of revolving credit facilities. There are no borrowings under the 364-Day Credit Facility. 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. THE HOME DEPOT, INC. Date: December 19, 2024 By: /s/ Richard V. McPhail Name: Richard V. McPhail Title: Executive Vice President and Chief Financial Officer 3