Refer to the following statements that can be found in the 2018 Target Annual Report.
1. Determine:
current raito
inventory turnover
debt to asset ratio
asset turnover, using average assets
return on assets, using average assets and esrnings from continued operations
gross margin
2. why would you invest or not invest in the company?
3. how finanically risky is the company?
4. how is Target using or not using assets efficiently?
Consolidated Statements of Operations 2017 2016 2018 As Adusted As Aquared 74.433 5 71,7865 69.414 923 928 857 75,356 72,714 70,271 53,299 51,125 49.145 15,723 15,140 14,217 (millions, except per share data) Sales Other revenue Total revenue Cost of sales 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 sharo Continuing operations Discontinued operations Net earnings per share Diluted earnings por sharo Continuing operations Discontinued operations Net earnings per share Weighted average common shares outstanding Basic Diluted Antidilutive shares Note: Per share amounts may not foot due to rounding. 2.224 4,110 461 (27) 3,676 746 2.930 7 2.937 $ 2.225 4,224 653 (59) 3,630 722 2.908 6 2.914 $ 2,045 4,884 991 (88) 3,961 1.295 2,666 68 2,734 $ 5.54 $ 0.01 5.55 $ 5.32 $ 0.01 5.32 $ 4.61 0.12 4.73 $ 5.29 $ 5.50 S 0.01 5.51 $ 0.01 5.29 $ 4.58 0.12 4.69 $ 528.6 533.2 546.8 550,3 577.6 582 5 0.1 Consolidated Statements of Comprehensive Income 2017 2016 2018 As Adjusted As Aqusled 2,937 $ 2,914 $ 2,734 $ (millions) Net eamings Other comprehensive (loss)/income, net of tax Pension and other benefit liabilities, net of tax Currency translation adjustment and cash flow hedges, net of tax Other comprehensive (loss) /income Comprehensive income (52) 2 6 (6) (58) 2,879 $ (13) 4 (9) 2,725 $ 8 2,922 $ ( See accompanying Notes to Consolidated Financial Statements. Refer to Note 2 regarding the adoption of new accounting standards for revenue recognition, leases, and pensions February millions except to Febniny 2 Assets Cash and cash valnis 1.556 2843 20 Other current 1 300 12340 Property and equipment Land 6044 5. Buildings and improvements 29.240 28.131 Fatures and equipment 5.912 5.623 Computer hardware and software 2.544 Construction in progreso 460 440 Accumulated depreciation (18.607 118 3981 Property and equipment net 25533 2.536 Operating lease assets 1.365 1854 Other nocument assets 1.273 1343 Total assets $ 41 290 5 40.303 Lbs and shareholders' investment Accounts payable 5 9.701 S 3877 Accrued and other current abilities 4, 201 4094 Current portion of long-term debt and other borrowingo 1,052 Total current abilities 15,014 13,052 Long-term debt and other borrowings 10:223 11.117 Noncurrent operating an abilities 2004 1934 Deferred income 972 033 Omer noncurrenties 1.780 Total noncurrent 14.079 15.000 Shareholders investment Commons 45 Additions in capital Reted aming 0.017 0,400 Acumulador comprehensive 005 Total solderinvesnent 11.051 Totes and shareholders investment 492105 40303 Common Stock Aumor 6.000.000.000 sam. S00033 par $17.761.000 shared and landing February 2 2019, 541.661.670 hassued and outstanding at February, 2018 Preferred Stock Aumond 5.000.000 h 30.0t par value no share writed or uning tay 2. 2010 February 3, 2018 Bee omgang Now to Console Frances Refer to Nolegarding the adoption of new accounting standards for revenue recognition least and Consolidated statements of the low mo 7.000 to reconhecer Deponton Share-base comme 2.18 132 Los dat 13 00 1900 2001 4 (150 30 418 100 304 STO 3 14 DOT Other ALGO Azeved and other Car provided by cons-oog opere Covedbygnin God by operations Hng Hiu stor property and con Procomfort and Carlos Ohnen IT 50 35 3 13 in the A 10 Odde 1.33 2124 11.08 cattering period motion See accompanying us to consolidated Financial Statements Roberto Heregarding the open of new counting standards for every recomo base and persone Consolidated Statements of Shareholde Investment 111 Common Stock Additional Stock Retained Accumulated Other Par Paid in (millions) Earnings Comprehensive Shares Value Capital As Adu (Los)/income Total January 30, 2016 8022 5 505 5,348 5 8,196 S 29 5 126 Adoption of ASC Topic B42 (Leases) (43) Net earnings 2,734 2.734 Other comprehensive loss (9) 19) Dividends declared (1.359) (1.350) Repurchase of stock (50.9) (4) (3,682) (3,686) Stock options and awards 4.9 313 313 January 28, 2017 556 2 $ 46 S 5,661 $ 5,846 $ (638) S 10,915 Net earnings 2.914 2,914 Other comprehensive income 8 Dividends declared (1,356) (1.356) Repurchase of stock (17.6) (1) (1.026) (1.027) Stock options and awards 3.1 197 197 Reclassification of tax effects to retained eamings 117 February 3, 2018 541.7 $ 45$ 5.858 5 6,495 5 (747) 5 11.651 Net earnings 2.937 2.937 Other comprehensive loss (58) (58) Dividends declared 11,347) Repurchase of stock (272) (2) (2.063) (2 070) Stock options and awards 33 184 February 2, 2019 5178 $ 43 5 6,0425 8.017 S [305] SIIN We declared 52 54, 52.46, and 52 36 dividends per share for the twelve months ended February 2 2010. February 2018, and January 28, 2017, respectively See accompanying Notes to Consolidated Financial Statements Refer to Non 2 regarding the adoption of new accounting standards for revenue recognition, eases and pensione 1 1 1 1 1 111 1 111 211111
