Target Corp. (TGT) | Statement of Cash Flows
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 2, 2013 | Jan 28, 2012 | Jan 29, 2011 | Jan 30, 2010 | Jan 31, 2009 | Feb 2, 2008 | |
|---|---|---|---|---|---|---|---|
| Net earnings | 2,999 | 2,929 | 2,920 | 2,488 | 2,214 | 2,849 | |
| Depreciation and amortization | 2,142 | 2,131 | 2,084 | 2,023 | 1,826 | 1,659 | |
| Share-based compensation expense | 105 | 90 | 109 | 103 | 72 | 73 | |
| Deferred income taxes | (14) | 371 | 445 | 364 | 91 | (70) | |
| Bad debt expense | 206 | 154 | 528 | 1,185 | 1,251 | 481 | |
| Gain on receivables held for sale | (161) | – | – | – | – | – | |
| Noncash (gains) losses and other, net | 14 | 22 | (145) | 200 | 415 | 1 | |
| Accounts receivable originated at Target | (217) | (187) | (78) | (57) | (458) | (602) | |
| Inventory | 15 | (322) | (417) | (474) | 77 | (525) | |
| Other current assets | (123) | (150) | (124) | (280) | (224) | (139) | |
| Other noncurrent assets | (98) | 43 | (212) | (127) | (76) | 101 | |
| Accounts payable | 199 | 232 | 115 | 174 | (389) | 111 | |
| Accrued and other current liabilities | 138 | 218 | 149 | 257 | (230) | 62 | |
| Other noncurrent liabilities | 120 | (97) | (103) | 25 | (139) | 124 | |
| Changes in operating accounts | 34 | (263) | (670) | (482) | (1,439) | (868) | |
| Reconciliation to cash flow | 2,326 | 2,505 | 2,351 | 3,393 | 2,216 | 1,276 | |
| Cash flow provided by operations | 5,325 | 5,434 | 5,271 | 5,881 | 4,430 | 4,125 | |
| Expenditures for property and equipment | (3,277) | (4,368) | (2,129) | (1,729) | (3,547) | (4,369) | |
| Proceeds from disposal of property and equipment | 66 | 37 | 69 | 33 | 39 | 95 | |
| Change in accounts receivable originated at third parties | 254 | 259 | 363 | (10) | (823) | (1,739) | |
| Other investments | 102 | (108) | (47) | 3 | (42) | (182) | |
| Change in commercial paper, net | 970 | – | – | – | – | – | |
| Cash flow required for investing activities | (2,855) | (4,180) | (1,744) | (1,703) | (4,373) | (6,195) | |
| Additions to short-term debt | – | 1,500 | – | – | – | 1,000 | |
| Reductions of short-term debt | (1,500) | – | – | – | (500) | (500) | |
| Additions to long-term debt | 1,971 | 1,994 | 1,011 | – | 3,557 | 7,617 | |
| Reductions of long-term debt | (1,529) | (3,125) | (2,259) | (1,970) | (1,455) | (1,326) | |
| Dividends paid | (869) | (750) | (609) | (496) | (465) | (442) | |
| Repurchase of stock | (1,875) | (1,842) | (2,452) | (423) | (2,815) | (2,477) | |
| Premiums on call options | – | – | – | – | – | (331) | |
| Stock option exercises and related tax benefit | 360 | 89 | 294 | 47 | 43 | 210 | |
| Other | (16) | (6) | – | – | (8) | (44) | |
| Cash flow provided by (required for) financing activities | (2,488) | (2,140) | (4,015) | (2,842) | (1,643) | 3,707 | |
| Effect of exchange rate changes on cash and cash equivalents | 8 | (32) | – | – | – | – | |
| Net increase (decrease) in cash and cash equivalents | (10) | (918) | (488) | 1,336 | (1,586) | 1,637 | |
| Cash and cash equivalents, including short-term investments, at beginning of period | 794 | 1,712 | 2,200 | 864 | 2,450 | 813 | |
| Cash and cash equivalents, including short-term investments, at end of period | 784 | 794 | 1,712 | 2,200 | 864 | 2,450 |
| Item | Description | The company |
|---|---|---|
| Cash flow 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 flow provided by operations increased from 2011 to 2012 but then slightly declined from 2012 to 2013 not reaching 2011 level. |
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