- How much were Target Corporations total long-term liabilities at January 30, 2021?
- Compute Target Corporations debt to equity ratio at January 30, 201 How does it compare to Kohls Corporations ratio?
Consolidated Statements of Operations 2020 2019 (millions, except per share data) Sales Other revenue 2018 74,433 92,400 $ 77,130 $ 1,161 982 923 Total revenue 93,561 78,112 75,356 Cost of sales 66,177 54,864 53,299 15,723 18,615 16,233 2,357 2,230 6,539 2.224 4.110 4,658 977 477 461 16 (27) 5,546 4,190 3,676 921 746 1,178 4,368 3,269 2,930 12 7 Selling general and administrative expenses Depreciation and amortization (exclusive of depreciation included in cost of sales) Operating income Net interest expense Net other (income) / expense Earnings from continuing operations before income taxes Provision for income taxes Net earnings from continuing operations Discontinued operations, net of tax Net earnings Basic earnings per share Continuing operations Discontinued operations Net earnings per share Diluted earnings per share Continuing operations Discontinued operations Net earnings per share Weighted average common shares outstanding $ 4,368 $ 3,281 $ 2.937 $ 8.72 $ 5.54 6.39 $ 0.02 6.42 $ 0.01 5.55 $ 8.72 $ $ 8.64 $ 6.34 $ 5.50 0.02 $ 8.64 $ 0.01 5.51 6.36 $ Basic 500.6 510.9 528.6 505.4 515.6 533.2 Diluted Antidilutive shares Note: Per share amounts may not foot due to rounding. See accompanying Noles to Consolidated Financial Statements. Consolidated Statements of Financial Position (millions, except footnotes) January 30, February 1, 2021 2020 Assets Land 780 533 Cash and cash equivalents 8,511 $ 2,577 Inventory 10,653 8,992 Other current assets 1,592 1,333 Total current assets 20,756 12,902 Property and equipment 6,141 6,036 Buildings and improvements 31,557 30,603 Fixtures and equipment 5,914 6,083 Computer hardware and software 2,765 2.692 Construction-in-progress Accumulated depreciation (20,278) (19,664) Property and equipment, net 26,879 26,283 Operating lease assets 2.227 2.236 Other noncurrent assets 1,386 1,358 Total assets $ 51,248 $ 42.779 Liabilities and shareholders' investment Accounts payable 12,859 $ 9,920 Accrued and other current liabilities 6,122 4.406 Current portion of long-term debt and other borrowings 1,144 161 Total current liabilities 20,125 14,487 Long-term debt and other borrowings 11,536 11,338 Noncurrent operating lease liabilities 2.218 2,275 Deferred income taxes 990 1,122 Other noncurrent liabilities 1,939 1,724 Total noncurrent liabilities 16,683 16,459 Shareholders' investment Common stock 42 42 Additional paid-in capital 6,329 6,226 Retained earnings 8,825 6,433 Accumulated other comprehensive loss (756) (868) Total shareholders' investment 14,440 11.833 Total liabilities and shareholders' investment $ 51,248 $ 42.779 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 FINANCIAL STATEMENTS di cucial Stories 2020 2019 2018 $ 4,368 $ 3,281 S 2.937 12 4,368 3.269 2.930 2,604 2.474 2,485 200 147 132 (184) 178 322 512 10 86 29 95 505 (1661) (137) 2.925 (900) (299) 18 140 1,127 199 89 1,931 10.525 7.099 5.970 18 3 Consolidated Statements of Cash Flows (millions) Operating activities Net earnings Earnings from discontinued operations, net of tax Net earnings from continuing operations Adjustments to reconcile net earnings to cash provided by operations: Depreciation and amortization Share-based compensation expense Deferred income taxes Loss on debt extinguishment Noncash losses (gains) and other, net Changes in operating accounts: Inventory Other assets Accounts payable Accrued and other liabilities Cash provided by operating activities-continuing operations Cash provided by operating activities discontinued operations Cash provided by operations Investing activities Expenditures for property and equipment Proceeds from disposal of property and equipment Other investments Cash required for investing activities Financing activities Additions to long-term debt Reductions of long-term debt Dividends paid Repurchase of stock Stock option exercises Cash required for financing activities Not increase/(decrease) in cash and cash equivalents Cash and cash oquivalents at beginning of period Cash and cash equivalents at end of period Supplemental Information Interest paid, net of capitalized interest Income taxes paid Leased assets obtained in exchange for new finance lease liabilities Leased assets obtained in exchange for new operating tonsolibilities 10,525 7.117 5.973 (2.649) (3.027) 63 (3.516) 85 16 20 15 (2.591) (2.944) (3.416) 2.480 (2415) (1.343) (745) 23 (2.000) 5,934 2.577 8,511 5 1,739 (2,069) (1,330) (1.565) 73 (281) (1,335) (2.124) 96 (3.152) 1.021 1.556 2.577 $ (3.644) (1,087) 2,643 1.556 $ $ 939 $ 492 $ 476 1,031 696 373 428 379 130 246 262 464 Consolidated Statements of Shareholders' Investment Common Stock Additional Accumulated Other Stock Par Paid in Retained Comprehensive (millions) Shares Value Capital Earnings (Loss)/Income Total February 3, 2018 541.7 $ 45 $ 5,858 $ 6,495 $ (747) $ 11,651 Net earnings 2,937 2,937 Other comprehensive loss (58) (58) Dividends declared (1,347) (1,347) Repurchase of stock (272) () (2,068) (2,070) Stock options and awards 3.3 184 184 February 2, 2019 517.8 $ 43 $ 6,042 $ 6,017 $ (805) $ 11,297 Net earnings 3,281 3,281 Other comprehensive loss (63) (63) Dividends declared (1,345) (1.345) Repurchase of stock (16.0) (1,520) (1,521) Stock options and awards 2.4 184 184 February 1, 2020 5042 $ 42 $ 6,226 $ 6,433 $ (868) $ 11,833 Net earnings 4,368 4,368 Other comprehensive income 112 112 Dividends declared (1.367) (1,367) Repurchase of stock (5.7) (609) (609) Stock options and awards 2.4 103 January 30, 2021 500.9 $ 42 $ 6,329 $ 8.825 $ (756) $ 14,440 We declared $2.70, $2.62, and $2.54 dividends per share for the twelve months ended January 30, 2021, February 1, 2020, and February 2, 2019, respectively. IIIIIIIIIIIII 103 KOHL'S CORPORATION CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Three Months Ended January 30, February 1 2021 2020 5,8795 6,537 S 262 295 6,141 6,832 4,000 4,400 320% 327% Twelve Months Ended January 30, February 1, 2021 2020 15,0315 18,885 924 1,089 15,955 19,974 10,360 12,140 31.1% 35.7% 1,603 26.1% 218 1,742 25.5% 232 57 5,705 28.6% 917 113 4 (Dollars in Millions. Except per Share Data) Net sales Other revenue Total revenue Cost of merchandise sold Gross margin rate Operating expenses: Selling, general , and administrative As a percent of total revenue Depreciation and amortization Impairments, store closing, and other (Gain) on sale of real estate Operating income (los) Interest expense, net (Gain) on extinguishment of debt Income (loss) before income taxes (Benefit) provision for income taxes Net Income (loss) Average number of shares: Basic Diluted Earnings (loss) per share: 5,021 31.594 874 89 (127) (262) 284 316 70 401 50 1,099 207 (9) 901 210 691 246 (97) 343 $ 351 86 265 (546) (383) (163) 154 156 154 154 154 154 157 158 Basic 4.39 2.23 s 2.20 S 1.72 S 1.72 S (1.06) (1.06) Diluted 4.37 ADJUSTED NET INCOME (LOSS) AND DILUTED EARNINGS (LOSS) PER SHARE, NON-GAAP FINANCIAL MEASURES (Unaudited) Three Months Ended January 30, February 1 2020 Twelve Months Ended January 30, February 1, 2021 2020 2021 343S 265 $ 57 (163) 89 (127) 691 113 15 (Dollars in Millons, Except par Share Data) Net income (loss) GAAP Impairments, store closing, and other (Gain) on sale of real estate (Gain) on extinguishment of debt Income tax impact of items noted above Adjusted (non-GAAP) Diluted earnings (loss) per share GAAP Impairments, store closing, and other (Gain) on sale of real estate (Gain) on extinguishment of debt Income tax impact of items noted above Adjusted (non-GAAP) co 3465 1. | (14) 308 S (9) (26) 769 (186) 2.20 $ 0.03 1.72$ 0.37 (1.06) $ 0.58 (0.82) 4.37 0.71 0.09 (0.01) 2.22$ (0.10) 1.99 $ (0.06) (0.16) 4.86 (1.21) S KOHL'S CORPORATION CONSOLIDATED BALANCE SHEETS (Unaudited) January 30, 2021 February 1, 2020 723 3,537 389 4,649 2,271 $ 2,590 974 5,835 6,689 2,398 415 15,337 $ 7,352 2,391 163 14,555 (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 Liabilities and Shareholders' Equity Current liabilities: Accounts payable Accrued liabilities Current portion of: Finance leases and financing obligations Operating leases Total current liabilities Long-term debt Finance leases and financing obligations Operating leases Deferred income taxes Other long-term liabilities Shareholders' equity Total liabilities and shareholders' equity 1,476 $ 1,270 1,206 1,281 115 161 3,022 2,451 1,387 2,625 302 354 5,196 15,337 $ 124 158 2,769 1,856 1,367 2,619 260 234 5,450 14,555 KOHL'S CORPORATION CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) Twelve Months Ended January 30, February 1, 2021 2020 (163) 691 874 40 18 64 917 56 51 64 (9 (127) 187 149 150 22 11 Dollars in Milone) Operating activities Net (loss) income Adjustments to reconcile net (loss) income to net cash provided by operating activities: Depreciation and amortization Share-based compensation Deferred income tax expenso Impaiments, store closing, and other costs (Gain) on extinguishment of debt (Gain) on sale d real estate Non-cash inventory costs Non-cash lease expense Other non-cash expense Changes in operating assets and liabilities: Merchandise inventories Other current and long-term assets Accounts payable Accrued and other long-term liabilities Operating lease liabilities Not cash provided by operating activities Investing activities Acquisition of property and equipment Proceeds from sale of real estate Other Net cash used in investing activities Financing activities Proceeds from issuance of debt Deferred fnancing costs Treasury stock purchases Shares withheld for taxes on vested restricted shares Dividends paid Reduction of long-term borrowings Finance lease and financing obligation payments Proceeds from stock option exercises Proceeds from financing obligations Net cash provided by (used in) financing activities Net increase (decrease) in cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period 768 (813) 270 199 (150) 1,338 (51 48 19 (134 (156 1,657 (855 (334) 197 18 (837 (137) 2,097 - (470 (19) (8) (22) (108) (1,497) (105) (423 (113 1 11 9 347 1,548 723 2,271 $ (1,031 (211 934 723
