13.1

TO DO 1: Complete the yellow section for the various ratios, pecentages and calculations. LINK formulas.

TO DO 2: Perform vertical (%) and horizontal analysis ($ and %) for the balance sheet and income statement. You only need to do vertical for the 2022 year. LINK and use formulas to make life easy. This should go quick!

NOTE: Kohl's has a year that runs from 2/1/X1 to 1/31/X2. So below the 2021 Income Statement covers the time period of 2/1/21 to 1/31/22. The balance sheet date is 1/31/22.

In the same logic, the 2022 Income Statement is 2/1/22 to 1/31/23. NOTE 2: It would confuse people to call the income statement 2023 since 2023 hasn't happened yet.

KOHL'S CORPORATION

KOHL'S CORPORATION

KOHL'S CORPORATION

KOHL'S CORPORATION

CONSOLIDATED BALANCE SHEETS (SLIGHTLY MODIFIED)

CONSOLIDATED INCOME STATEMENT (SLIGHTLY MODIFIED)

CONSOLIDATED BALANCE SHEETS (SLIGHTLY MODIFIED)

CONSOLIDATED INCOME STATEMENT (SLIGHTLY MODIFIED)

(Dollars in Millions)

1/31/23

1/31/22

(Dollars in Millions, Except per Share Data)

2022 2/1/22 - 1/31/23

2021 2/1/21 - 1/31/22

(Dollars in Millions)

VERT ANALYSIS %

HORIZONTAL ANALYSIS

(Dollars in Millions, Except per Share Data)

VERT ANALYSIS %

HORIZONTAL ANALYSIS

1/31/23

$ CHANGE (1/31/22 to 1/31/23)

% CHANGE (1/31/22 to 1/31/23)

2022 2/1/22 - 1/31/23

$ CHANGE (21 TO 22)

% CHANGE (21 TO 22)

Assets

Net sales

17,161

18,471

Assets

Net sales

Current assets:

Other revenue

937

962

Current assets:

Other revenue

Cash and cash equivalents

$153

$1,587

Total revenue

18,098

19,433

Cash and cash equivalents

Total revenue

Merchandise inventories

3,189

3,067

Cost of merchandise sold

11,457

11,437

Merchandise inventories

Cost of merchandise sold

Accounts Receivable

394

369

Operating expenses:

Accounts Receivable

Operating expenses:

Total current assets

3,736

5,023

Selling, general, and administrative

5,587

5,478

Total current assets

Selling, general, and administrative

Property and equipment, net

7,926

7,304

Depreciation and amortization

808

838

Property and equipment, net

Depreciation and amortization

Operating leases

2,304

2,248

Operating income

246

1,680

Operating leases

Operating income

Other assets

379

479

Interest expense, net

(304)

(260)

Other assets

Interest expense, net

Total assets

$14,345

$15,054

Income tax expense (benefit)

39

(482)

Total assets

Income tax expense

Net income

(19)

938

REMINDER: FORMAT THIS AND MAKE IT PRETTY -- UNDERLINES, ETC.

Net income

Liabilities and Shareholders Equity

Liabilities and Shareholders Equity

Current liabilities:

OTHER INFORMATION AND TIPS

@ 1/31/23

@ 1/31/22

Current liabilities:

Accounts payable

$1,330

$1,683

Market price per share of stock at year end

32.37

59.71

Accounts payable

Accrued liabilities

1,220

1,340

For the year ended

1/31/23

1/31/22

Accrued liabilities

Borrowings under revolving credit facility

85

0

Dividends paid (in millions, per year)

243

149

Borrowings under revolving credit facility

Current portion of:

Capital expenditures (in millions, per year)

783

570

Current portion of:

Long-term debt

275

0

Long-term debt

Finance leases and financing obligations

94

118

2022

2021

Finance leases and financing obligations

Operating leases

111

145

Working Capital

Operating leases

Total current liabilities

3,115

3,286

Current ratio

Total current liabilities

Long-term debt

1,637

1,910

Inventory turnover

Long-term debt

Finance leases and financing obligations

2,786

2,133

Days in Inventory

Finance leases and financing obligations

Operating leases

2,578

2,479

Accounts Receivable Turnover

Operating leases

Deferred income taxes

129

206

Average collection period

Deferred income taxes

Other long-term liabilities

337

379

Debt to assets ratio

Other long-term liabilities

Total long-term liabilities

7467

7107

Times Interest Earned

Total long-term liabilities

Total liabilities

10582

10393

EARNINGS PER SHARE (NET INCOME / OUTSTANDING CHARES)

Total liabilities

Shareholders equity:

Price-earnings ratio

Shareholders equity:

Common stock - 378 and 377 million shares issued

4

4

Gross profit rate

Common stock - 378 and 377 million shares issued

Paid-in capital

3,479

3,375

Profit margin

Paid-in capital

Treasury stock, at cost, 267 and 246 million shares

(13,715)

(12,975)

Return on assets

Treasury stock, at cost, 267 and 246 million shares

Retained earnings

13,995

14,257

Asset turnover

Retained earnings

Total shareholders equity

$3,763

$4,661

Dividend payout ratio

Total shareholders equity

Total liabilities and shareholders equity

$14,345

$15,054

Return on Equity Percentage

Total liabilities and shareholders equity