Stock Analysis on Net

Target Corp. (NYSE:TGT)

Cash Flow Statement
Quarterly Data

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

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 cash flow statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Feb 3, 2024 Oct 28, 2023 Jul 29, 2023 Apr 29, 2023 Jan 28, 2023 Oct 29, 2022 Jul 30, 2022 Apr 30, 2022 Jan 29, 2022 Oct 30, 2021 Jul 31, 2021 May 1, 2021 Jan 30, 2021 Oct 31, 2020 Aug 1, 2020 May 2, 2020 Feb 1, 2020 Nov 2, 2019 Aug 3, 2019 May 4, 2019 Feb 2, 2019 Nov 3, 2018 Aug 4, 2018 May 5, 2018
Net earnings 1,382 971 835 950 876 712 183 1,009 1,544 1,488 1,817 2,097 1,380 1,014 1,690 284 834 714 938 795 798 622 799 718
Earnings from discontinued operations, net of tax (1) (8) (3) (6) (1)
Net earnings from continuing operations 1,382 971 835 950 876 712 183 1,009 1,544 1,488 1,817 2,097 1,380 1,014 1,690 284 833 706 938 792 798 616 799 717
Depreciation and amortization 729 722 683 667 696 675 650 679 690 652 633 667 637 603 604 641 699 638 623 644 648 592 603 631
Share-based compensation expense 75 69 64 43 43 55 39 83 41 49 59 79 39 57 55 49 31 30 40 46 26 35 29 42
Deferred income taxes 46 111 46 95 34 321 112 115 289 90 (27) 170 (210) 38 (8) (4) (57) 131 45 59 61 132 81 48
Gain on Dermstore sale (335)
Loss on extinguishment of debt 512 10
Noncash (gains) losses and other, net (7) 90 22 (11) 31 33 56 52 49 11 37 (30) (38) 38 81 5 23 (36) 32 10 10 (14) 59 40
Inventory 2,845 (2,047) (68) 883 3,618 (1,797) (237) (1,181) 1,056 (3,699) (720) 114 2,059 (3,836) (292) 408 2,404 (2,274) (63) 438 2,896 (3,281) (460) (55)
Other assets 123 (270) 28 34 227 (26) (93) (86) 39 (120) 8 (5) 37 (160) (25) 11 28 (74) 47 17 (159) (141) (25) 26
Accounts payable (2,103) 2,024 326 (1,463) (2,013) 560 776 (1,560) (656) 3,595 894 (1,205) (1,362) 3,492 1,075 (280) (1,333) 2,204 671 (1,402) (2,171) 2,956 946 (604)
Accrued and other liabilities 199 264 197 67 (46) 66 (139) (505) (24) 109 (418) (413) 939 170 652 170 320 6 154 (281) 247 (4) 179 (333)
Changes in operating accounts 1,064 (29) 483 (479) 1,786 (1,197) 307 (3,332) 415 (115) (236) (1,509) 1,673 (334) 1,410 309 1,419 (138) 809 (1,228) 813 (470) 640 (966)
Adjustments to reconcile net earnings from continuing operations to cash provided by (required for) operating activities 1,907 963 1,298 315 2,590 (113) 1,164 (2,403) 1,484 687 466 (958) 2,101 914 2,142 1,000 2,125 625 1,549 (469) 1,558 275 1,412 (205)
Cash provided by (required for) operating activities 3,289 1,934 2,133 1,265 3,466 599 1,347 (1,394) 3,028 2,175 2,283 1,139 3,481 1,928 3,832 1,284 2,958 1,331 2,487 323 2,356 891 2,211 512
Expenditures for property and equipment (854) (1,127) (1,220) (1,605) (1,205) (1,800) (1,571) (952) (1,061) (1,145) (798) (540) (640) (595) (663) (751) (624) (1,009) (739) (655) (643) (1,017) (1,029) (827)
Proceeds from disposal of property and equipment 18 4 2 4 2 2 4 8 3 12 15 17 4 6 34 19 5 5 46 24 11 4
Proceeds from Dermstore sale 356
Other investments 4 20 (3) 1 15 (1) 2 (7) 19 (12) 7 19 (5) 1 1 6 14 (1) 1 12 (2) 5
Cash required for investing activities (850) (1,089) (1,219) (1,602) (1,201) (1,785) (1,570) (948) (1,064) (1,118) (807) (165) (606) (583) (658) (744) (584) (976) (735) (649) (597) (981) (1,020) (818)
Change in commercial paper, net (90) 90 (2,104) 559 600 945 (490) 490
Additions to long-term debt 1,634 991 1,972 2,480 745 994
Reductions of long-term debt (33) (42) (26) (46) (24) (26) (65) (48) (1,035) (40) (51) (21) (20) (2,269) (109) (17) (1,028) (15) (1,013) (13) (13) (13) (243) (12)
Dividends paid (508) (507) (499) (497) (497) (497) (418) (424) (432) (440) (336) (340) (341) (340) (330) (332) (335) (337) (328) (330) (334) (336) (331) (334)
Repurchase of stock 114 (2,760) (2,314) (2,192) (1,540) (1,310) (4) (35) (20) (686) (156) (747) 58 (720) (189) (456) (530) (949)
Shares withheld for taxes on share-based compensation (3) (3) (3) (118) (1) (4) (4) (171)
Stock option exercises 2 1 1 3 3 2 5 11 3 4 8 41 12 12 5 41 34 16
Cash provided by (required for) financing activities (544) (552) (618) (571) (990) 1,023 228 (2,457) (1,806) (2,672) (1,924) (1,669) (360) (2,633) (456) 1,449 (766) (1,058) (1,271) (57) (1,021) (274) (1,070) (1,279)
Cash provided by operating activities, discontinued operations 16 2 (7) 9 (1) 2
Cash provided by discontinued operations 16 2 (7) 9 (1) 2
Net increase (decrease) in cash and cash equivalents 1,895 293 296 (908) 1,275 (163) 5 (4,799) 158 (1,615) (448) (695) 2,515 (1,288) 2,718 1,989 1,608 (687) 483 (383) 731 (355) 120 (1,583)

Based on: 10-K (reporting date: 2024-02-03), 10-Q (reporting date: 2023-10-28), 10-Q (reporting date: 2023-07-29), 10-Q (reporting date: 2023-04-29), 10-K (reporting date: 2023-01-28), 10-Q (reporting date: 2022-10-29), 10-Q (reporting date: 2022-07-30), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-29), 10-Q (reporting date: 2021-10-30), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-05-01), 10-K (reporting date: 2021-01-30), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-08-01), 10-Q (reporting date: 2020-05-02), 10-K (reporting date: 2020-02-01), 10-Q (reporting date: 2019-11-02), 10-Q (reporting date: 2019-08-03), 10-Q (reporting date: 2019-05-04), 10-K (reporting date: 2019-02-02), 10-Q (reporting date: 2018-11-03), 10-Q (reporting date: 2018-08-04), 10-Q (reporting date: 2018-05-05).

Cash flow statement item Description The company
Cash provided by (required for) operating activities Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Target Corp. cash provided by (required for) operating activities decreased from Q2 2024 to Q3 2024 but then increased from Q3 2024 to Q4 2024 exceeding Q2 2024 level.
Cash required for investing activities Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Target Corp. cash required for investing activities increased from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.
Cash provided by (required for) financing activities Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Target Corp. cash provided by (required for) financing activities increased from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.