Answered step by step
Verified Expert Solution
Question
1 Approved Answer
I was not able to find the balance sheet on Target's website I just need help with questions 1a, 2a and 4a Target Case (Static)
I was not able to find the balance sheet on Target's website
I just need help with questions 1a, 2a and 4a
Target Case (Static) (L010-1, 10-5] Target Corporation prepares its financial statements according to US GAAP. Target's financial statements and disclosure notes for the year ended February 3, 2018, are available here. This material is also available under the Investor Relations link at the company's website www.target.com Required: 1. a. What amount ($ in millions) does Target report for net property and equipment for the year ended February 3, 2018? b. What is the largest category of property and equipment reported on the face of the balance sheet? 2. a. What amount ($ in millons) of cash was used in the fiscal year ended February 3, 2018, to purchase property and equipment? b. Is this an increase or decrease compared to the previous year? 3. Do you think a company like Target would have more research and development costs or more advertising costs? t nces a. What is Target's fixed-asset turnover ratio for the fiscal year ended February 3, 2018? b. What is the ratio intended to measure? 5. Did Target include any intangible assets in total assets? Hint: see Notes 15 and 16. Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Reg 3 Reg Res 1. a. What amount (sin millions) does Target report for net property and equipment for the year ended February 3, 2018? b. What is the largest category of property and equipment reported on the face of the balance sheet? 1- The amount reported for not property and equipment 1-6. Largest category of property and equipment Buildings and improvements Reg 2 > Target Case (Static) (LO10-1, 10-5) Target Corporation prepares its financial statements according to U.S. GAAP. Target's financial statements and disclosure notes for the year ended February 3, 2018, are available here. This material is also available under the Investor Relations link at the company's website (www.target.com) Required: 1. 1. What amount ($ in millions) does Target report for net property and equipment for the year ended February 3, 2018? b. What is the largest category of property and equipment reported on the face of the balance sheet? 2 .. What amount (5 in millons) of cash was used in the fiscal year ended February 3, 2018, to purchase property and equipment? b. Is this an increase or decrease compared to the previous year? 3. Do you think a company like Target would have more research and development costs or more advertising costs? 4 a. What Is Target's fixed asset turnover ratio for the fiscal year ended February 3, 2018? b. What is the ratio Intended to measure? 5. Did Target Include any intangible assets in total assets? Hint see Notes 15 and 16. Complete this question by entering your answers in the tabs below. Red 1 Ro2 Req3 Red 4 Reg 5 2. a. What amount (sin millions) of cash was used in the fiscal year ended February 3, 2018, to purchase property and equipment? b. Is this an increase or decrease compared to the previous year? Show less million 2- The amount of cash used in the fiscal year 2-6 Was there an increase or a decreme compared to the previous year? Target Case (Static) (L010-1, 10-5) Target Corporation prepares its financial statements according to U.S. GAAP. Target's financial statements and disclosure notes for the year ended February 3, 2018, are evollable here. This material is also available under the investor Relations link at the company's website www.target.com) Required: 6. What amount (5 in millions) does Target report for net property and equipment for the year ended February 3, 2018? b. What is the largest category of property and equipment reported on the face of the balance sheet? 1. 2. a. What amount ($ in millions) of cash was used in the fiscal year ended February 3, 2018, to purchase property and equipment? b. Is this an increase or decrease compared to the previous year? 3. Do you think a company like Target would have more research and development costs or more advertising costs? 4. a. What is Target's foed-asset tumover ratio for the fiscal year ended February 3, 2018? b. What is the ratio intended to measure? 5. Did Target Include any intangible assets in total assets7 Hint See Notes 15 and 16 Complete this question by entering your answers in the tabs below. Reg 1 Reg2 Re 4 Regs 4. a. What is Target's foed-asset turnover ratio for the fiscal year ended February 3, 2018? b. What is the ratio intended to measure? 4- Twgers faded over ratio 4-6. The fasettumover ratio is Wended to measure propertpant and equipment company's effectiveness in managing Target 2018 Anal Report Financial Summary 2017 2010 2015 2018 2014 FINANCIAL RESULTS in miliona Sale $ 72,618 $ 74,433 923 75,350 53.290 15,723 $71,786 920 72.714 51,125 15,140 $09414 857 70,271 19,145 14,217 $ 73,717 777 74,494 52.241 15,406 72.618 51,500 14,678 2,224 4,110 1,901 4,535 BA2 601 Other revenue Total revenue Coat of a Solineral and administrative SSA) Depreciation and amortion exclusive of depreciation included Inconto Operating income Not inte Net other income /expo Earrings from continuing operation before income Provision for Income Net earnings from continuing operations Discontinued operations, net of tax Net amnings/loss PER SHARE Basiewing/Donal per share Continuing operations Discotinued operations Netcomingsool por share Diluted amninga / per share Continuing persons Gored promos Not wings / Bosal per har Cash dividende dederd FINANCIAL POSITION in moral 1271 3,676 745 2.930 7 2.937 2,225 4,224 653 1903 3,630 722 2.00 6 2,014 2,045 4,854 991 1880 3,001 1,206 2.600 be 2,734 1,900 4,878 607 1852) 4,923 1.600 3,321 42 3.360 3,653 1.204 2.440 14.085) $11.636) $ $ $ $ $ $ $ $ 5.54 0.01 5.55 5.32 0.01 4.81 0.12 4.73 520 0.07 5.35 3.36 18.4 25 $ $ 5.32 $ 3 $ $ . 3.83 5.50 0.01 5.51 2.54 5.20 0.01 5.29 2.40 $ 5.25 0.07 5.31 2.20 $ 4.50 0.12 4.60 2.30 $ $ $ 5 1.00 $ 41,200 $ 3516 $11.275 $ 10.500 $11.207 $ 40,300 2,533 $ 11,308 $ 10,267 $ 11,651 $ 3.74 5 1.547 $ 12,501 $ 11,481 $ 10,015 $ 40,202 1.400 $12.700 9.752 12.067 41.172 1.780 $ 12.725 5 11.205 13,997 Capital aspondhes Long term current portion Net de Sweet FINANCIAL RATIOS Come growth Grossmag of SOMA Opening comment of OTHER Comodinimo Operchow provided to continue in millions 13 5.0% 28.4% 20.0% 5.5% 1.3% 28. 20.8% 5.8% 0.5% 29.24 20.25 80 2.1 29.1% 20.7% 200 0.2% $ 517.8 $ 5,070 $ 314 230.581 0.1% 0022 5.254 310 3402 5.157 5582 $ 5.337 . 293 230,502 $ 5 541.7 6.861 298 230,366 10.1 1.622 41 onthou w 239.000 To 1.800 1.790 40 1.792 40 2015 ption ASLI Financial Summary Target 2017 Report FINANCIAL RESULTS: in more S $ USD su $ US SUS SO 5530 5170 10 78 1600 2.600 Gommagn Selling general and administrative pense SGSA Depreciation and amortization focuse of depreciation included on cost of Gainon Earrings from continuing operations before interest pense and ncome tax EBIT Netto per Earnings from continuing operations before income Provision for income Net camings from continuing operations Discontinued operations, net of tax Noteamings/Goss! PER SHARE Basic earnings / per share Continuing operations Discontinued operations Netcomingsoper share Diluted earings / per share Continuing to Discontinued operation Netings/ Cash didendis declared FINANCIAL POSITION Inmond $ $ $ $ $ $ $ 542 0.00 596 $ $ 5 310 $ $ $ 0.00 55 $ s 246 5 SU $ 2.533 Long term det including current portion $ $10.456 $ 100 Shareholders investment SEGMENT FINANCIAL RATOS: Comparable growth Gros magno SGS of BBT margin of sales OTHER Common shares outstanding in milion Operating cash fow provided by continuing operations in million Retal screen thousands Souare footage gown Total number of Total number of disbution centers 32 SAL $ 6.549 $ 5.329 5254 239355 mer 20. 2018 financial summary 2018 $72,618 72,618 51,506 14,676 1,901 4,535 882 FINANCIAL RESULTS (in Millions) Sales (c) Other revenue Total revenue Cost of sales Selling, general and administrative expenses (SG&A) Depreciation and amortization (exclusive of depreciation included in cost of sales) Operating income Net interest expense (d) Net other (income) / expense (e) Earnings from continuing operations before income taxes Provision for income taxes (4) Net earnings from continuing operations Discontinued operations, net of tax Net earnings / (loss) PER SHARE BASIC EARNINGS / (LOSS) PER SHARE Continuing operations Discontinued operations Net earnings / (loss) per share DILUTED EARNINGS / (LOSS) PER SHARE Continuing operations Discontinued operations Net earnings / (loss) per share Cash dividends declared FINANCIAL POSITION (in millions) 3,653 1,204 2,449 (4,085) s(1,636) 3.86 (6.44) $(2.58) $3.83 (6.38) $(2.56) $1.99 Total assets Capital expenditures (9) Long-term debt, including current portion (g) Net debt (g)(h) Shareholders' investment $41,172 $1,786 $12,725 $11,205 $13,997 203 $13,997 1.3% 29.1% 20.0% 6.2% Shareholders' investment FINANCIAL RATIOS (G) Comparable sales growth Gross margin (% of sales) SG&A (% of total revenue) Operating income margin (% of total revenue) OTHER Common shares outstanding (in Millions) Operating cash flow provided by continuing operations (in Millions) Revenue per square foot (g) Retail square feet (in thousands) (g) Square footage growth (9) Total number of stores (g) Total number of distribution centers (g) 640.2 $5,157 S302 239,963 -% 1,790 38 (a) Consisted of 53 weeks. (b) The financial summary data for fiscal years 2017, 2016, and 2015 reflect the adoption of Accounting Standards Update (ASU) No. 2014-09- Revenue from Contracts with Customers (Topic 606). The financial summary data for fiscal years 2017 and 2016 reflect the adoption of Accounting Standards Update (ASU) No. 2016-02-Leases (Topic 842). The financial summary data for fiscal year 2015 does not reflect adoption of Topic 842 and the financial summary data for fiscal 2014 does not reflect adoption of Topic 606 and Topic 842. Note 2 to the Consolidated Financial Statements in Form 10-K, Item 8, provides additional information. (c) The 2016 sales decline is primarily due to the December 2015 sale of our pharmacy and clinic businesses (Pharmacy Transaction) to CVS Pharmacy, Inc. 2015 and 2014 sales include $3,815 million and $4,418 million, respectively, related to our former pharmacy and clinic businesses. (d) Includes losses on early retirement of debt of $123 million, $422 million, and $285 million for 2017, 2016, and 2014, respectively. (e) For 2015, includes the gain on the sale of our pharmacy and clinic businesse businesses. (d) Includes losses on early retirement of debt of $123 million, $422 million, and $285 million for 2017, 2016, and 2014, respectively. (e) For 2015, includes the gain on the sale of our pharmacy and clinic businesses. (4) For 2018 and 2017, includes $36 million and S343 million, respectively, of discrete tax benefits related to the Tax Cuts and Jobs Act enacted in December 2017. (g) Represents amounts attributable to continuing operations. (h) Including current portion of long-term debt and other borrowings, net of short-term investments of $769 million, $1,131 million, $1,110 million, 3,008 million, and $1,520 million in 2018, 2017, 2016, 2015, and 2014, respectively, Management believes this measure is an indicator of our level of financial leverage because short-term investments are available to pay debt maturity obligations. For 2017 and earlier, only short-term investments held by U.S. entities were used to calculate net debt because amounts held by entities located outside the US were restricted for use. 6) See definition of comparable sales in Form 10-K, Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operations. 0 Represents revenue per square foot which is calculated using rolling four quarters average square feet. In 2017, revenue per square foot was calculated excluding the 53rd week in order to provide a more useful comparison to other years. Using total reported revenue for 2017 (including the 53rd week) resulted in revenue per square foot of $303. The 2016 decrease is primarily due to the Pharmacy Transaction. Our former pharmacy and clinic businesses contributed approximately $16 to 2015 revenue per square foot. Revenue per square foot for 2014 does not include profit sharing under our credit card program agreement which was classified as a reduction of SG&A expenses prior to adoption of Topic 606. back to top Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started