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Here are the annual financial statements: TARGET CORPORATION Consolidated Statements of Cash Flows begin{tabular}{|c|c|c|c|c|c|c|} hline multirow{2}{*}{begin{tabular}{l} (millions) Operating activities end{tabular}} & & multicolumn{2}{|l|}{2020} &
Here are the annual financial statements:
TARGET CORPORATION Consolidated Statements of Cash Flows \begin{tabular}{|c|c|c|c|c|c|c|} \hline \multirow{2}{*}{\begin{tabular}{l} (millions) \\ Operating activities \end{tabular}} & & \multicolumn{2}{|l|}{2020} & \multicolumn{2}{|l|}{2019} & \multirow[t]{2}{*}{2018} \\ \hline & & & & & & \\ \hline Net earnings & $ & 4,368 & $ & 3.281 & $ & 2,937 \\ \hline Earnings from discontinued operations, net of tax & & - & & 12 & & 7 \\ \hline Net earnings from continuing operations (Net Income) & & 4,368 & & 3,269 & & 2,930 \\ \hline \multicolumn{7}{|l|}{\begin{tabular}{l} Adjustments to reconcile net earnings to cash provided by \\ operations: \end{tabular}} \\ \hline Depreciation and amortization & & 2,485 & & 2,604 & & 2,474 \\ \hline Share-based compensation expense & & 200 & & 147 & & 132 \\ \hline Deferred income taxes & & (184) & & 178 & & 322 \\ \hline Loss on debt extinguishment & & 512 & & 10 & & - \\ \hline Noncash losses / (gains) and other, net & & 86 & & 29 & & 95 \\ \hline \multicolumn{7}{|l|}{ Changes in operating accounts: } \\ \hline Inventory & & (1,661) & & 505 & & (900) \\ \hline Other assets & & (137) & & 18 & & (299) \\ \hline Accounts payable & & 2,925 & & 140 & & 1,127 \\ \hline Accrued and other liabilities & & 1,931 & & 199 & & 89 \\ \hline Cash provided by operating activities-continuing operations & & 10,525 & & 7,099 & & 5,970 \\ \hline \begin{tabular}{l} Cash provided by operating activities-discontinued \\ operations \end{tabular} & & = & & 18 & & 3 \\ \hline Cash provided by operations & & 10,525 & & 7,117 & & 5,973 \\ \hline \multicolumn{7}{|l|}{ Investing activities } \\ \hline Expenditures for property and equipment & & (2,649) & & (3,027) & & (3,516) \\ \hline Proceeds from disposal of property and equipment & & 42 & & 63 & & 85 \\ \hline Other investments & & 16 & & 20 & & 15 \\ \hline Cash required for (used by) investing activities & & (2,591) & & (2,944) & & (3,416) \\ \hline \multicolumn{7}{|l|}{ Financing activities } \\ \hline Additions to long-term debt & & 2,480 & & 1,739 & & - \\ \hline Reductions of long-term debt & & (2,415) & & (2,069) & & (281) \\ \hline Dividends paid & & (1,343) & & (1,330) & & (1,335) \\ \hline Repurchase of stock & & (745) & & (1,565) & & (2,124) \\ \hline Stock option exercises & & 23 & & 73 & & 96 \\ \hline Cash required for (used by) financing activities & & (2,000) & & (3,152) & & (3,644) \\ \hline Net increase / (decrease) in cash and cash equivalents & & 5,934 & & 1,021 & & (1,087) \\ \hline Cash and cash equivalents at beginning of period & & 2,577 & & 1,556 & & 2,643 \\ \hline Cash and cash equivalents at end of period & $ & 8,511 & s & 2,577 & $ & 1,556 \\ \hline \multicolumn{7}{|l|}{ Supplemental information } \\ \hline Interest paid, net of capitalized interest & $ & 939 & $ & 492 & $ & 476 \\ \hline Income taxes paid & & 1,031 & & 696 & & 373 \\ \hline \begin{tabular}{l} Leased assets obtained in exchange for new finance lease \\ liabilities \end{tabular} & & 428 & & 379 & & 130 \\ \hline \begin{tabular}{l} Leased assets obtained in exchange for new operating lease \\ liabilities \end{tabular} & & 262 & & 464 & & 246 \\ \hline \end{tabular} Consolidated Statements of Financial Position (Balance Sheet) \begin{tabular}{|c|c|c|c|c|} \hline \multirow{2}{*}{\begin{tabular}{l} (millions, except footnotes) \\ Assets \end{tabular}} & \multicolumn{4}{|c|}{ January 30, 2021 February 1, 2020} \\ \hline & \multirow[b]{2}{*}{$} & \multirow[b]{2}{*}{8,511} & \multirow{3}{*}{$} & \multirow[b]{2}{*}{2,577} \\ \hline Cash and cash equivalents & & & & \\ \hline Inventory & & 10,653 & & 8,992 \\ \hline Other current assets & & 1,592 & & 1,333 \\ \hline Total current assets & & 20,756 & & 12,902 \\ \hline \multicolumn{5}{|l|}{ Property and equipment } \\ \hline Land & & 6,141 & & 6,036 \\ \hline Buildings and improvements & & 31,557 & & 30,603 \\ \hline Fixtures and equipment & & 5,914 & & 6,083 \\ \hline Computer hardware and software & & 2,765 & & 2,692 \\ \hline Construction-in-progress & & 780 & & 533 \\ \hline Accumulated depreciation & & (20,278) & & (19,664) \\ \hline Property and equipment, net & & 26,879 & & 26,283 \\ \hline Operating lease assets & & 2,227 & & 2,236 \\ \hline Other noncurrent assets & & 1,386 & & 1,358 \\ \hline Total assets & $ & 51,248 & S & 42,779 \\ \hline \multicolumn{5}{|l|}{ Liabilities and shareholders' investment } \\ \hline Accounts payable & $ & 12,859 & $ & 9,920 \\ \hline Accrued and other current liabilities & & 6,122 & & 4,406 \\ \hline Current portion of long-term debt and other borrowings & & 1,144 & & 161 \\ \hline Total current liabilities & & 20,125 & & 14,487 \\ \hline Long-term debt and other borrowings & & 11,536 & & 11,338 \\ \hline Noncurrent operating lease liabilities & & 2,218 & & 2,275 \\ \hline Deferred income taxes & & 990 & & 1,122 \\ \hline Other noncurrent liabilities & & 1,939 & & 1,724 \\ \hline Total noncurrent liabilities & & 16,683 & & 16,459 \\ \hline \multicolumn{5}{|l|}{ Shareholders' investment } \\ \hline Common stock & & 42 & & 42 \\ \hline Additional paid-in capital & & 6,329 & & 6,226 \\ \hline Retained earnings & & 8,825 & & 6,433 \\ \hline Accumulated other comprehensive loss & & (756) & & (868) \\ \hline Total shareholders' investment & & 14,440 & & 11,833 \\ \hline Total liabilities and shareholders' investment & $ & 51,248 & S & 42,779 \\ \hline \end{tabular} Common Stock Authorized 6,000,000,000 shares, $0.0833 par value; 500,877,129 shares issued and outstanding as of January 30,2021; 504,198,962 shares issued and outstanding as of February 1, 2020. Preferred Stock Authorized 5,000,000 shares, $0.01 par value; no shares were issued or outstanding during any period presented. 1b: Provide one Operating Activity amount, one Investing Activity amount, and one Financing Activity amount from the Statement of Cash Flows for the years 2020 and 2019. Compute the increase or (decrease) between these years. Statement of Cash Flows Accounts Describe amount from Operating Activities he Describe amount from Investing Activities her Describe amount from Financing Activities he Tip: Choose an amount from the operating activities, investing activities and the financing activities from your group's company statement of cash flows to compare for 2020 and 2019. 1c: Compute the Total Debt to Total Assets Ratio for the years 2020 and 2019. Compute the increase/(decrease) between these years. Solvency Ratio Total Debt to Total Assets Ratio \begin{tabular}{|c|c|c|} \hline2020 & 2019 & (ab)(Decrease)Increase/ \\ \hline(a) & (b) & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|} \hline & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} 2020 and 2019
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