Statement of Cash Flows

Difficulty level: Basic

The cash flow statement provides information about a company's cash receipts and cash payments during an accounting period, showing how these cash flaws link the ending cash balance to the beginning balance shown on the company's statement of financial position.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Target Corp., Consolidated Statement of Cash Flows

USD $ in millions

 
12 months ended Feb 1, 2014 Feb 2, 2013 Jan 28, 2012 Jan 29, 2011 Jan 30, 2010 Jan 31, 2009
Net earnings 1,971  2,999  2,929  2,920  2,488  2,214 
Depreciation and amortization 2,223  2,142  2,131  2,084  2,023  1,826 
Share-based compensation expense 110  105  90  109  103  72 
Deferred income taxes (254) (14) 371  445  364  91 
Bad debt expense 41  206  154  528  1,185  1,251 
Gain on receivables transaction (391) (161)
Loss on debt extinguishment 445 
Noncash (gains) losses and other, net 82  14  22  (145) 200  415 
Accounts receivable originated at Target 157  (217) (187) (78) (57) (458)
Proceeds on sale of accounts receivable originated at Target 2,703 
Inventory (885) 15  (322) (417) (474) 77 
Other current assets (267) (123) (150) (124) (280) (224)
Other noncurrent assets 19  (98) 43  (212) (127) (76)
Accounts payable 625  199  232  115  174  (389)
Accrued and other current liabilities (9) 138  218  149  257  (230)
Other noncurrent liabilities (50) 120  (97) (103) 25  (139)
Changes in operating accounts 2,293  34  (263) (670) (482) (1,439)
Adjustments to reconcile net earnings to cash provided by operations 4,549  2,326  2,505  2,351  3,393  2,216 
Cash provided by operations 6,520  5,325  5,434  5,271  5,881  4,430 
Expenditures for property and equipment (3,453) (3,277) (4,368) (2,129) (1,729) (3,547)
Proceeds from disposal of property and equipment 86  66  37  69  33  39 
Change in accounts receivable originated at third parties 121  254  259  363  (10) (823)
Proceeds from sale of accounts receivable originated at third parties 3,002 
Cash paid for acquisitions, net of cash assumed (157)
Other investments 130  102  (108) (47) (42)
Cash required for investing activities (271) (2,855) (4,180) (1,744) (1,703) (4,373)
Change in commercial paper, net (890) 970 
Additions to short-term debt 1,500 
Reductions of short-term debt (1,500) (500)
Additions to long-term debt 1,971  1,994  1,011  3,557 
Reductions of long-term debt (3,463) (1,529) (3,125) (2,259) (1,970) (1,455)
Dividends paid (1,006) (869) (750) (609) (496) (465)
Repurchase of stock (1,461) (1,875) (1,842) (2,452) (423) (2,815)
Stock option exercises and related tax benefit 456  360  89  294  47  43 
Other (16) (6) (8)
Cash required for financing activities (6,364) (2,488) (2,140) (4,015) (2,842) (1,643)
Effect of exchange rate changes on cash and cash equivalents 26  (32)
Net increase (decrease) in cash and cash equivalents (89) (10) (918) (488) 1,336  (1,586)
Cash and cash equivalents at beginning of period 784  794  1,712  2,200  864  2,450 
Cash and cash equivalents at end of period 695  784  794  1,712  2,200  864 
Source: Target Corp., Annual Reports
Item Description The company
Cash provided by operations The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. Target Corp.'s cash provided by operations declined from 2012 to 2013 but then increased from 2013 to 2014 exceeding 2012 level.

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