Compare your base companys financial statements with those of the second company in your chosen industry. If you were making a decision to invest in one of the two companies, which company would you choose? Why? (Note: your answer in this section must include some financial issues, but your answer need not be limited to a discussion of financial issues.)
KOHL'S CORPORATION CONSOLIDATED STATEMENTS OF INCOME 2019 2018 2017 $ $ 18,885 1,089 19,974 12,140 19.167 1,062 20.229 12.199 19,036 1,048 20.084 12.176 5,501 991 Dollars in Millions, Except per Share Data Net sales Other revenue Total revenue Cost of merchandise sold Operating expenses: Selling, general and administrative Depreciation and amortization Impairments, store closing and other costs Operating income Interest expense, net (Gain) loss on extinguishment of debt Income before income taxes Provision for income taxes Net income Net income per share: Basic Diluted 5,705 917 113 1,099 207 5,601 964 104 1.361 256 1,416 299 (9) 63 901 210 691 $ 1,042 241 801 $ 1.117 258 859 auto 4.39 $ 4.37 $ 4.88 $ 4.84 $ 5.14 5.12 See accompanying Notes to Consolidated Financial Statements MACY'S, INC. CONSOLIDATED STATEMENTS OF INCOME (millions, except per share data) 2019 $ Net sales Credit card revenues, net 24,560 S 771 2018 2 4,971 768 $ 2017 24,939 702 (15,171) (8,998) 162 (354) 970 31 (58) (205) (30) (15,215) (9,039) 389 (136) 1.738 (15.181) (8.954) 544 (186) 1.864 39 57 (105) (321) 10 Cost of sales Selling, general and administrative expenses Gains on sale of real estate Restructuring, impairment, store closing and other costs Operating income Benefit plan income, net Settlement charges Interest expense Gains (losses) on early retirement of debt Interest income Income before income taxes Federal, state and local income tax benefit (expense) Net income Net loss attributable to noncontrolling interest Net income attributable to Macy's, Inc. shareholders Basic camings per share attributable to Macy's, Inc. sharcholders Diluted earnings per share attributable to Macy's, Inc. shareholders (88) (261) (33) 25 1.420 (322) 1,098 11 728 1.516 (164) 564 1.555 1.108 1,566 564 1,82 S S 3.60 5.13 $ 1.81 S 3.56 $ KOHL'S CORPORATION CONSOLIDATED BALANCE SHEETS February 1, February 2 2019 2020 (Dollars in Millions) Assets Current assets: Cash and cash equivalents Merchandise inventories Other Total current assets Property and equipment, net Operating leases Other assets Total assets 723 $ 3,537 389 4,649 7,352 2,391 163 14,555 $ 934 3,475 426 4,835 7,428 $ 206 12,469 1,206 1,233 48 391883333 34313943 " 1,187 1,364 64 Liabilities and Shareholders' Equity Current liabilities: Accounts payable Accrued liabilities Income taxes payable Current portion of: Finance lease and financing obligations Operating leases Total current liabilities Long-term debt Finance lease and financing obligations Operating leases Deferred income taxes Other long-term liabilities Shareholders' equity: Common stock - 375 and 374 million shares issued Paid-in capital Treasury stock, at cost, 219 and 211 million shares Retained earnings Total shareholders' equity Total liabilities and shareholders' equity 115 124 158 2,769 1,856 1,367 2,619 260 234 2,730 1,861 1,523 184 644 3,272 (11,571) 13,745 5,450 $ 14,5555 3,204 (11.076) 13,395 5,527 12,469 MACY'S, INC. CONSOLIDATED BALANCE SHEETS (millinus) February 1, 2011 February 2014 75 6.617 6.613 2.668 3.908 498 21.172 5 1 9,194 1.655 ASSETS Current Acts Cash and cash equivalent Receivables Merchandise inventories Prepaid expenses and other current assets Total Current Assets Property and quipment nee Right of the Assis Goodwill Other Intangible Assetsel Other Assets Total Assets LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities: Short-tem de Merchandise accounts payable Accounts payable and reliabilities Income taxes Total Current Liabilities Long Term Debt Lane Terme Lilities Deferred Income Taxes Other Liabilities Shunchokhers' Equity: Common stock (309.0 and 307.5 shares outstanding) Additional paid in capital Accumulated equity Treasury sock Accumulated other comprehensive los Total Macy's, Ine. Shareholders' Equity Noncora interest Total Shareholders' Equity Total Liabilities and Shareholders' Equity 3.445 5.750 5112 4,708 2,918 1.169 1,317 1.218 1.580 7,989 8,050 (1,318) 951) 6,416 (995) 6.377 6,377 21,172 6,416 19,194
