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Target Corp. (TGT) | Statement of Financial Position, Assets

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The statement of financial position provides creditors, investors, and analysts with information on company's resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company's assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

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Target Corp., Consolidated Statement of Financial Position, Assets

USD $ in millions

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    Jan 28, 2012 Jan 29, 2011 Jan 30, 2010 Jan 31, 2009 Feb 2, 2008 Feb 3, 2007
chart Cash and cash equivalents
chart Short-term investments
chart Cash and cash equivalents, including short-term investments
chart Credit card receivables, net of allowance
chart Inventory
chart Vendor income receivable
chart Other receivables
chart Deferred taxes
chart Other
chart Other current assets
chart Current assets
chart Property and equipment, net
chart Company-owned life insurance investments
chart Goodwill and intangible assets
chart Interest rate swaps
chart Other
chart Other noncurrent assets
chart Noncurrent assets
chart Total assets
Source: Target Corp., Annual Reports
Item Description The company
Cash and cash equivalents Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits should not be reported as cash and cash equivalents.
Short-term investments Investments which are intended to be sold in the short term (usually less than one year or the normal operating cycle, whichever is longer) including trading securities, available-for-sale securities, held-to-maturity securities, and other short-term investments not otherwise listed. Target Corp.'s short-term investments declined from 2010 to 2011 and from 2011 to 2012.
Credit card receivables, net of allowance Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Target Corp.'s credit card receivables, net of allowance declined from 2010 to 2011 and from 2011 to 2012.
Inventory Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer). Target Corp.'s inventory increased from 2010 to 2011 and from 2011 to 2012.
Current assets Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Target Corp.'s current assets declined from 2010 to 2011 and from 2011 to 2012.
Property and equipment, net Tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. Examples include land, buildings, and production equipment. Target Corp.'s property and equipment, net increased from 2010 to 2011 and from 2011 to 2012.
Noncurrent assets Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer. Target Corp.'s noncurrent assets increased from 2010 to 2011 and from 2011 to 2012.
Total assets Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Target Corp.'s total assets declined from 2010 to 2011 but then increased from 2011 to 2012 exceeding 2010 level.

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