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Question

a. What method of depreciation does Target use? b. What types of intangible assets does Target have?

c. What are the estimated lives that Target uses for the various types of long-term assets?

d. As of January 30, 2016, what is the original cost of Target's Land; Buildings and improvements; and Fixtures and equipment?

e. What was Target's depreciation expense and amortization expense for 2015?


selected financial data.png

consolidated statement of operations.png

consolidated statements of financial position.png

consolidated statement of operations.png
Consolidated Statements of Operations 201? 2016
(millions, except per share data) 2013 As Adjusted” As .4::_'.I'Lrstoo""'I
Sales 5 74,433 5 ?1,786 5 69,414
Other revenue 923 928 35?
Total revenue 75,356 ?2,714 70,2?1
Cost of sales 53.299 51.125 49.145
Selling, general and administrative expenses 15,723 15,140 14,21?
Depreciation and amortization (exclusive of depreciation included in cost of sales] 2224 2,225 2045
Operating income 4,110 4,224 4,864
Net interest expense 461 653 991
Net other [income] I expense {2?} (59] {88]
Earnings from continuing operations before income taxes 3.6?6 3.630 3.961
Provision for income taxes 746 722 1,295
Net earnings from continuing operations 2.930 2.908 2.666
Discontinued operations, net of tax i' 6 68
Net earnings 5 2.93? 5 2.914 5 2734
Basic earnings per share
Continuing operations 5 5.54 5 5.32 5 4.61
Discontinued operations 0.01 0.01 0.12
Net earnings per share 5 5.55 5 5.32 5 4.?3
Diluted earnings per share
Continuing operations 5 5.50 5 5.29 5 4.58
Discontinued operations 0.01 0.01 0.12
Net earnings per share 5 5.51 5 5.29 5 4.69
Weighted average common shares outstanding
Basic 528.6 546.8 577.6
Diluted 533.2 550.3 582.5 Antidilutive shares — 4.1 0.1
consolidated statements of financial position.png
Consolidated Statements of Financial Position
February 2,
(millions, except footnotes)
2019
February 3, 2018
As Adjusted
Assets
Cash and cash equivalents
CA
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
selected financial data.png
For the Fiscal Year
2017
(millions, except per share data)
2018
As Adjusted (313)
2016
2015
As Adjusted (3
As Adjusted
[email protected])
Sales
74,433 $
71,786 $
69,414 $
73,717 $
72,618
Total revenue
75,356
72,714
70,271
74,494
72,618
Net Earnings / (Loss)
Continuing operations
2,930
2,908
2,666
3,321
2,449
Discontinued operations
7
6
68
42
(4,085)
Net earnings / (loss)
2,937
2,914
2,734
3,363
(1,636)
Basic Earnings / (Loss) Per Share
Continuing operations
5.54
5.32
4.61
5.29
3.86
Discontinued operations
0.01
0.01
0.12
0.07
(6.44)
Basic eamings / (loss) per share
5.55
5.32
4.73
5.35
(2.58)
Diluted Earnings /(Loss) Per Share
Continuing operations
5.50
5.29
4.58
5.25
3.83
Discontinued operations
0.01
0.01
0.12
0.07
(6.38)
Diluted earnings / (loss) per share
5.51
5.29
4.69
5.31
(2.56)
Cash dividends declared per share
2.54
2.46
2.36
2.20
1.99
As of
February 2,
February 3.
January 28
2018
January 30,
2019
2017
January 31,
As Adjusted ()
As Adjusted
20162
2015
Total assets
41,290
40,303
38,724
40,262
41,172
Long-term debt, including current portion
11,275
11,398
12,591
12,760
12,725

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Subject: Accounting, Business

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