FY 2017 % % 100.00% 100.00% Vertical Analysis - Income Statement Target Corporation INSTRUCTIONS: Change XX to the year of the report you are analyzing. You may have to insert additional 3 rows based on the actual Target Consolidated statement. FY 2018 4 Sales 5 Cost of sales 6 Gross margin 7 Selling, general, and administrative expenses 8 Depreciation and amortization 9 Gain on sale 10 Earnings from continuing operations before interest and taxes 11 Net interest expense 12 Earnings from continuing operations before income taxes 13 Provision for income taxes 14 Net earnings from continuing operations 15 Discontinued operations, net of tax 16 Net earnings/(loss) $ $ % FY 2017 Vertical Analysis - Balance Sheets Target Corporation INSTRUCTIONS: Change XX to the year of the report you are analyzing. You may have to insert additional rows based on the actual Target Consolidated statement. FY 2018 4. ASSETS 5 Cash and cash equivalents 6 Inventory | 7 Assets of discontinued operations 8 Other current assets 9 Total current assets 10 Property and equipment 11 Land Buildings and equipment 13 Fixtures and equipment 14 Computer hardware and software 15 Construction-in-progress 16 Accumulated depreciation 17 Property and equipment, net 18 Noncurrent assets of discontinued operations 19 Other noncurrent assets 20 Total assets 100.00% $ 100.00% 1 LIABILITIES Accounts payable 3 Accrued and other current liabilities 4 Current portion of long-term debt and other borrowings 5 Liabilities of discontinued operations 5 Total current liabilities 7 Long-term debt and other borrowings 3 Deferred income taxes Noncurrent liabilities of discontinued operations Other noncurrent liabilities 1 Total noncurrent liabilities 2 Total liabilities 3 SHAREHOLDERS' INVESTMENT 4 Common stock 5 Additional paid-in capital 5 Retained earnings 7 Accumulated other comprehensive loss 3 Pension and other benefit liabilities 2 Currency translation adjustment and cash flow hedges Total shareholders' investment 1 Total liabilities and shareholders' investment $ 100.00% $ 100.0 FY 2017 % % 100.00% 100.00% Vertical Analysis - Income Statement Target Corporation INSTRUCTIONS: Change XX to the year of the report you are analyzing. You may have to insert additional 3 rows based on the actual Target Consolidated statement. FY 2018 4 Sales 5 Cost of sales 6 Gross margin 7 Selling, general, and administrative expenses 8 Depreciation and amortization 9 Gain on sale 10 Earnings from continuing operations before interest and taxes 11 Net interest expense 12 Earnings from continuing operations before income taxes 13 Provision for income taxes 14 Net earnings from continuing operations 15 Discontinued operations, net of tax 16 Net earnings/(loss) $ $ % FY 2017 Vertical Analysis - Balance Sheets Target Corporation INSTRUCTIONS: Change XX to the year of the report you are analyzing. You may have to insert additional rows based on the actual Target Consolidated statement. FY 2018 4. ASSETS 5 Cash and cash equivalents 6 Inventory | 7 Assets of discontinued operations 8 Other current assets 9 Total current assets 10 Property and equipment 11 Land Buildings and equipment 13 Fixtures and equipment 14 Computer hardware and software 15 Construction-in-progress 16 Accumulated depreciation 17 Property and equipment, net 18 Noncurrent assets of discontinued operations 19 Other noncurrent assets 20 Total assets 100.00% $ 100.00% 1 LIABILITIES Accounts payable 3 Accrued and other current liabilities 4 Current portion of long-term debt and other borrowings 5 Liabilities of discontinued operations 5 Total current liabilities 7 Long-term debt and other borrowings 3 Deferred income taxes Noncurrent liabilities of discontinued operations Other noncurrent liabilities 1 Total noncurrent liabilities 2 Total liabilities 3 SHAREHOLDERS' INVESTMENT 4 Common stock 5 Additional paid-in capital 5 Retained earnings 7 Accumulated other comprehensive loss 3 Pension and other benefit liabilities 2 Currency translation adjustment and cash flow hedges Total shareholders' investment 1 Total liabilities and shareholders' investment $ 100.00% $ 100.0