Goodwill and Intangible Assets Accounting Policy
Goodwill totaled $59 million at January 28, 2012 and January 29, 2011. No material impairments were recorded in 2011, 2010 or 2009, as a result of the goodwill impairment tests performed.
Target uses the straight-line method to amortize leasehold acquisition costs over 9 to 39 years and other definite-lived intangibles over 3 to 15 years. The weighted average life of leasehold acquisition costs and other intangible assets was 28 years and 5 years, respectively, at January 28, 2012. Amortization expense for 2011, 2010 and 2009 was $24 million, each year.
Source: Target Corp., Annual Report
Goodwill and Intangible Assets Disclosure
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Target Corp., Statement of Financial Position, Goodwill and Intangible Assets
Source: Based on data from Target Corp. Annual Reports
| Item |
Description |
The company |
| Net intangible assets |
Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. |
Target Corp.'s net intangible assets declined from 2010 to 2011 but then increased from 2011 to 2012 exceeding 2010 level.
|
| Goodwill |
Carrying amount as of the balance sheet date, which is the cumulative amount paid and (if applicable) the fair value of any noncontrolling interest in the acquiree, adjusted for any amortization recognized prior to the adoption of any changes in generally accepted accounting principles (as applicable) and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions. |
|
| Goodwill and intangible assets |
Sum of the carrying amounts of all intangible assets, including goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. |
Target Corp.'s goodwill and intangible assets declined from 2010 to 2011 but then increased from 2011 to 2012 exceeding 2010 level.
|
Analyst Adjustments: Removal of Goodwill
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Target Corp., adjustments to financial data
Adjusted Ratios: Removal of Goodwill (Summary)
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Target Corp., adjusted ratios
| Ratio |
Description |
The company |
| Adjusted total asset turnover |
An activity ratio calculated as total revenue divided by adjusted total assets. |
Target Corp.'s adjusted total asset turnover improved from 2010 to 2011 but then slightly deteriorated from 2011 to 2012 not reaching 2010 level.
|
| Adjusted financial leverage |
A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income. |
Target Corp.'s adjusted financial leverage declined from 2010 to 2011 but then increased from 2011 to 2012 exceeding 2010 level.
|
| Adjusted ROE |
A profitability ratio calculated as net income divided by adjusted shareholders' equity. |
Target Corp.'s adjusted ROE improved from 2010 to 2011 but then slightly deteriorated from 2011 to 2012.
|
| Adjusted ROA |
A profitability ratio calculated as net income divided by adjusted total assets. |
Target Corp.'s adjusted ROA improved from 2010 to 2011 but then slightly deteriorated from 2011 to 2012.
|
Adjusted Total Asset Turnover
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2012 Calculations
| Ratio |
Description |
The company |
| Adjusted total asset turnover |
An activity ratio calculated as total revenue divided by adjusted total assets. |
Target Corp.'s adjusted total asset turnover improved from 2010 to 2011 but then slightly deteriorated from 2011 to 2012 not reaching 2010 level.
|
Adjusted Financial Leverage
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2012 Calculations
| Ratio |
Description |
The company |
| Adjusted financial leverage |
A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income. |
Target Corp.'s adjusted financial leverage declined from 2010 to 2011 but then increased from 2011 to 2012 exceeding 2010 level.
|
Adjusted Return On Equity (ROE)
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2012 Calculations
| Ratio |
Description |
The company |
| Adjusted ROE |
A profitability ratio calculated as net income divided by adjusted shareholders' equity. |
Target Corp.'s adjusted ROE improved from 2010 to 2011 but then slightly deteriorated from 2011 to 2012.
|
Adjusted Return On Assets (ROA)
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2012 Calculations
| Ratio |
Description |
The company |
| Adjusted ROA |
A profitability ratio calculated as net income divided by adjusted total assets. |
Target Corp.'s adjusted ROA improved from 2010 to 2011 but then slightly deteriorated from 2011 to 2012.
|
