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Use Targets 2017 annual report filed with the SEC in 2018 for the following calculations. For the most recent year presented, what was Targets total

Use Target’s 2017 annual report filed with the SEC in 2018 for the following calculations.

For the most recent year presented, what was Target’s total asset turnover?

 Do NOT round intermediate calculations.  Only round final answers.

Round your final answer to 2 decimal places (for example 0.31).

Target Corporation Consolidated Statements of Financial Position

 

 

 

Assets

 February 2, 2019

 February 3, 2018 as adj.

Cash and cash equivalents

$

1,556

 

$

2,643

 

Inventory

9,497

 

8,597

 

Other current assets

1,466

 

1,300

 

Total current assets

12,519

 

12,540

 

Property and equipment

 

 

Land

6,064

 

6,095

 

Buildings and improvements

29,240

 

28,131

 

Fixtures and equipment

5,912

 

5,623

 

Computer hardware and software

2,544

 

2,645

 

Construction-in-progress

460

 

440

 

Accumulated depreciation

(18,687

)

(18,398

)

Property and equipment, net

25,533

 

24,536

 

Operating lease assets

1,965

 

1,884

 

Other noncurrent assets

1,273

 

1,343

 

Total assets

$

41,290

 

$

40,303

 

Liabilities and shareholders' investment

 

 

Accounts payable

$

9,761

 

$

8,677

 

Accrued and other current liabilities

4,201

 

4,094

 

Current portion of long-term debt and other borrowings

1,052

 

281

 

Total current liabilities

15,014

 

13,052

 

Long-term debt and other borrowings

10,223

 

11,117

 

Noncurrent operating lease liabilities

2,004

 

1,924

 

Deferred income taxes

972

 

693

 

Other noncurrent liabilities

1,780

 

1,866

 

Total noncurrent liabilities

14,979

 

15,600

 

Shareholders' investment

 

 

Common stock

43

 

45

 

Additional paid-in capital

6,042

 

5,858

 

Retained earnings

6,017

 

6,495

 

Accumulated other comprehensive loss

(805)

 

(747)

 

Total shareholders' investment

11,297

 

11,651

 

Total liabilities and shareholders' investment

$

41,290

 

$

40,303

 

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