Microsoft Excel LibreOffice Calc

Target Corp. (TGT)


Common-Size Income Statement

Low level of difficulty

Target Corp., common-size consolidated income statement

Microsoft Excel LibreOffice Calc
12 months ended Feb 2, 2019 Feb 3, 2018 Jan 28, 2017 Jan 30, 2016 Jan 31, 2015 Feb 1, 2014
Sales 100.00 100.00 100.00 100.00 100.00 100.00
Cost of sales -71.61 -71.13 -70.32 -70.47 -70.61 -70.47
Gross margin 28.39% 28.87% 29.68% 29.53% 29.39% 29.53%
Other revenue 1.24 0.00 0.00 0.00 0.00 0.00
Selling, general and administrative expenses -21.12 -19.82 -19.22 -19.88 -20.21 -21.18
Depreciation and amortization -2.99 -3.05 -3.31 -3.00 -2.93 -3.06
Gain on sale 0.00 0.00 0.00 0.84 0.00 0.54
Earnings from continuing operations before interest expense and income taxes 5.52% 6.00% 7.15% 7.49% 6.25% 5.83%
Net interest expense -0.62 -0.93 -1.44 -0.82 -1.21 -1.55
Net other income (expense) 0.04 0.00 0.00 0.00 0.00 0.00
Earnings from continuing operations before income taxes 4.94% 5.07% 5.71% 6.67% 5.03% 4.27%
Provision for income taxes -1.00 -1.00 -1.86 -2.17 -1.66 -1.56
Net earnings from continuing operations 3.94% 4.07% 3.84% 4.50% 3.37% 2.72%
Discontinued operations, net of tax 0.01 0.01 0.10 0.06 -5.63 0.00
Net earnings (loss) 3.95% 4.08% 3.94% 4.56% -2.25% 2.72%

Based on: 10-K (filing date: 2019-03-13), 10-K (filing date: 2018-03-14), 10-K (filing date: 2017-03-08), 10-K (filing date: 2016-03-11), 10-K (filing date: 2015-03-13), 10-K (filing date: 2014-03-14).

Income statement item Description The company
Earnings from continuing operations before interest expense and income taxes The net result for the period of deducting operating expenses from operating revenues. Target Corp.’s earnings from continuing operations before interest expense and income taxes as a percentage of sales declined from 2017 to 2018 and from 2018 to 2019.
Earnings from continuing operations before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Target Corp.’s earnings from continuing operations before income taxes as a percentage of sales declined from 2017 to 2018 and from 2018 to 2019.
Net earnings (loss) The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Target Corp.’s net earnings (loss) as a percentage of sales increased from 2017 to 2018 but then slightly declined from 2018 to 2019 not reaching 2017 level.