Trend analysis chart showing 2016,2017, 2018 Target Corporation showing

Financial Summary 2017 2018 2016 FINANCIAL RESULTS in millions) Sales #t $ 74.433 $ 71.780 69.414 Other revenue 923 928 857 Total revenue 75.356 72.714 70.271 Cost of sales 53.299 51.125 49.145 Selling general and administrative expenses (SGRA) 15.723 15,140 14.217 Depreciation and amortization fexclusive of depreciation included in cost of sales) 2.224 2.225 2.045 Operating income 4.110 4.224 4.864 Net interest expense " 461 653 991 Net other Income) / expense (27) Enmings from continuing operations before income taxes 3.676 3.630 3981 Provision for income taxes # 746 722 1.205 Net earnings from continuing operations 2.930 2.908 2.666 Discontinued operations, not of tax 7 6 68 Net earnings / (loss $ 2,837 2.914 $ 2.734 PER SHARE Basic earnings / (loss) per share Continuing operations 5.54 5.32 461 Discontinued operations 0.01 0.01 0.12 Net earnings / Dossi per share 5.55 5.32 $ 4.73 Diluted earnings / (loss) per share Continuing operations 5.50 5.29 4.58 Discontinued operations 0.01 0.01 0.12 Net earnings / Dossi per share $ 5.51 5.20 4.89 Cash dividends declared 2.54 2.48 2.36 FINANCIAL POSITION On millions) Total assets $ 41.200 40.303 38.724 Capital expenditures we 3.516 2.533 $ 1.547 Long-term debt, including current portion 11.275 $ 11,308 12:591 Not debi on $ 10.506 10,287 11,481 Shareholders investment $ 11.297 5 11.651 $ 10.915 FINANCIAL RATIOS Comparable sales growth " 5.0% 1.3% Gross margin (% of sales) 28.49% 28.8% 29.2 % SGSA (% of total revenue) 20.9% 20.8% 20.2 % Operating income margin (% of total revenue) 5.5% 5.8% 69% OTHER Common shares outstanding (in millions) 517.8 541.7 556.2 Operating cash flow provided by continuing operations On millions) 5.970 6,801 5.337 Revenue per square foot on 314 208 Rotal square foot in thousandall 230,581 230.365 230.502 Square footage growth 0.1% 10.17% Total number of stores 's 1,844 1,822 1.802 Total number of distribution centers u 40 41 40