Balance Sheet: Assets
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company 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.

Target Corp., consolidated balance sheet: assets (quarterly data)

US$ in millions

	Aug 1, 2026	May 2, 2026	Jan 31, 2026	Nov 1, 2025	Aug 2, 2025	May 3, 2025	Feb 1, 2025	Nov 2, 2024	Aug 3, 2024	May 4, 2024	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
Cash and cash equivalents	5,411)	3,534)	5,488)	3,822)	4,341)	2,887)	4,762)	3,433)	3,497)	3,604)	3,805)	1,910)	1,617)	1,321)	2,229)	954)	1,117)	1,112)	5,911)	5,753)	7,368)	7,816)	8,511)	5,996)	7,284)	4,566)
Inventory	13,249)	12,317)	12,304)	14,896)	12,881)	13,048)	12,740)	15,165)	12,604)	11,730)	11,886)	14,731)	12,684)	12,616)	13,499)	17,117)	15,320)	15,083)	13,902)	14,958)	11,259)	10,539)	10,653)	12,712)	8,876)	8,584)
Other current assets	2,268)	2,214)	2,213)	1,984)	1,812)	1,824)	1,952)	1,956)	1,817)	1,744)	1,807)	1,958)	1,797)	1,836)	2,118)	2,322)	2,016)	1,758)	1,760)	1,865)	1,604)	1,576)	1,592)	1,601)	1,463)	1,465)
Current assets	20,928)	18,065)	20,005)	20,702)	19,034)	17,759)	19,454)	20,554)	17,918)	17,078)	17,498)	18,599)	16,098)	15,773)	17,846)	20,393)	18,453)	17,953)	21,573)	22,576)	20,231)	19,931)	20,756)	20,309)	17,623)	14,615)
Property and equipment, net	34,767)	34,175)	33,749)	33,710)	33,568)	33,182)	33,022)	32,931)	33,075)	33,114)	33,096)	33,168)	32,947)	32,396)	31,512)	30,921)	29,820)	28,670)	28,181)	27,915)	27,244)	26,804)	26,879)	26,773)	26,739)	26,589)
Operating lease assets	3,587)	3,652)	3,703)	3,739)	3,694)	3,739)	3,763)	3,513)	3,545)	3,486)	3,362)	3,086)	2,840)	2,640)	2,657)	2,596)	2,542)	2,571)	2,556)	2,539)	2,503)	2,362)	2,227)	2,208)	2,233)	2,235)
Other noncurrent assets	1,953)	2,118)	2,033)	1,840)	1,555)	1,505)	1,530)	1,533)	1,457)	1,439)	1,400)	1,376)	1,321)	1,341)	1,320)	1,705)	1,655)	1,648)	1,501)	1,381)	1,407)	1,374)	1,386)	1,371)	1,405)	1,367)
Noncurrent assets	40,307)	39,945)	39,485)	39,289)	38,817)	38,426)	38,315)	37,977)	38,077)	38,039)	37,858)	37,630)	37,108)	36,377)	35,489)	35,222)	34,017)	32,889)	32,238)	31,835)	31,154)	30,540)	30,492)	30,352)	30,377)	30,191)
Total assets	61,235)	58,010)	59,490)	59,991)	57,851)	56,185)	57,769)	58,531)	55,995)	55,117)	55,356)	56,229)	53,206)	52,150)	53,335)	55,615)	52,470)	50,842)	53,811)	54,411)	51,385)	50,471)	51,248)	50,661)	48,000)	44,806)

Total assets exhibited a long-term growth trajectory, increasing from $44.8 billion in May 2020 to $61.2 billion by August 2026. This expansion was driven by a combination of steady long-term capital investments and fluctuating short-term asset levels.

Liquidity and Cash Management: Cash and cash equivalents demonstrated significant volatility over the period. After reaching a peak of $8.5 billion in January 2021, balances declined sharply to a low of $954 million by October 2022. A recovery phase followed, with cash levels stabilizing and oscillating between $2.8 billion and $5.5 billion through 2026, suggesting a shift in liquidity strategy or capital allocation.
Inventory Trends: Inventory levels saw a substantial increase from $8.6 billion in May 2020 to a peak of $17.1 billion in July 2022. Following this surge, a corrective trend emerged, with inventory stabilizing between $12 billion and $15 billion. A distinct seasonal pattern is observable, with assets consistently peaking in the fourth quarter of each year to support peak retail demand.
Fixed Asset Expansion: Property and equipment, net, showed a consistent and linear upward trend, growing from $26.6 billion in May 2020 to $34.8 billion in August 2026. This steady increase indicates sustained investment in physical infrastructure and store networks. Similarly, operating lease assets grew from $2.2 billion to approximately $3.6 billion over the same timeframe.
Current Asset Dynamics: Current assets rose from $14.6 billion to $20.9 billion. The fluctuations within this category were primarily influenced by the high variance in cash and inventory, while other current assets remained relatively stable, growing modestly from $1.5 billion to $2.3 billion.
Noncurrent Asset Growth: Noncurrent assets increased from $30.2 billion in May 2020 to $40.3 billion by August 2026. The growth in this segment was dominated by the steady rise in net property and equipment, contributing to a larger proportion of the total asset base over time.

Target Corp. (NYSE:TGT)

Balance Sheet: Assets
Quarterly Data

Assets: Selected Items

Current Assets: Selected Items

Target Corp. (NYSE:TGT)

Balance Sheet: Assets Quarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data