Target Reports Fourth Quarter and Fiscal 2012 Earnings
Target Reports Fourth Quarter and Fiscal 2012 Earnings
Target Reports Fourth Quarter and Fiscal 2012 Earnings
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TARGET CORPORATION<br />
Consolidated Statements of Financial Position<br />
February 2, January 28,<br />
(millions) 2013 <strong>2012</strong><br />
Assets (unaudited)<br />
Cash <strong>and</strong> cash equivalents, including short-term investments of $130 <strong>and</strong> $194 $ 784 $ 794<br />
Credit card receivables, held for sale 5,841<br />
-<br />
Credit card receivables, net of allowance of $0 <strong>and</strong> $430 -<br />
5,927<br />
Inventory 7,903 7,918<br />
Other current assets 1,860 1,810<br />
Total current assets<br />
Property <strong>and</strong> equipment<br />
16,388 16,449<br />
L<strong>and</strong> 6,206 6,122<br />
Buildings <strong>and</strong> improvements 28,653 26,837<br />
Fixtures <strong>and</strong> equipment 5,362 5,141<br />
Computer hardware <strong>and</strong> software 2,567 2,468<br />
Construction-in-progress 1,176<br />
963<br />
Accumulated depreciation (13,311) (12,382)<br />
Property <strong>and</strong> equipment, net 30,653 29,149<br />
Other noncurrent assets 1,122 1,032<br />
Total assets<br />
Liabilities <strong>and</strong> shareholders' investment<br />
$ 48,163 $ 46,630<br />
Accounts payable $ 7,056 $ 6,857<br />
Accrued <strong>and</strong> other current liabilities 3,981 3,644<br />
Unsecured debt <strong>and</strong> other borrowings 1,494 3,036<br />
Nonrecourse debt collateralized by credit card receivables 1,500<br />
750<br />
Total current liabilities 14,031 14,287<br />
Unsecured debt <strong>and</strong> other borrowings 14,654 13,447<br />
Nonrecourse debt collateralized by credit card receivables -<br />
250<br />
Deferred income taxes 1,311 1,191<br />
Other noncurrent liabilities 1,609 1,634<br />
Total noncurrent liabilities<br />
Shareholders' investment<br />
17,574 16,522<br />
Common stock 54<br />
56<br />
Additional paid-in capital 3,925 3,487<br />
Retained earnings<br />
Accumulated other comprehensive loss<br />
13,155 12,959<br />
Pension <strong>and</strong> other benefit liabilities (532) (624)<br />
Currency translation adjustment <strong>and</strong> cash flow hedges (44) (57)<br />
Total shareholders' investment 16,558 15,821<br />
Total liabilities <strong>and</strong> shareholders' investment $ 48,163 $ 46,630<br />
Common shares outst<strong>and</strong>ing 645.3 669.3<br />
Subject to reclassification<br />
CONFIDENTIAL<br />
Draft - 5<br />
2/21/13 8:07 AM
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