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.
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Target Corp., consolidated balance sheet: assets (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2025-08-02), 10-Q (reporting date: 2025-05-03), 10-K (reporting date: 2025-02-01), 10-Q (reporting date: 2024-11-02), 10-Q (reporting date: 2024-08-03), 10-Q (reporting date: 2024-05-04), 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).
The financial data over the analyzed quarters reveals several key trends in asset composition and valuation. Total assets show an overall upward trajectory, with fluctuations observed in specific periods. After an initial increase from 40.6 billion US dollars to a peak near 54.4 billion, total assets experienced some volatility but generally remained above 50 billion, closing around 57.8 billion in the latest quarter, indicating growth over the medium term.
- Cash and Cash Equivalents
- The balance of cash and cash equivalents demonstrated significant volatility. Starting at approximately 1.2 billion US dollars, the value surged to a peak near 7.3 billion by mid-2020, reflecting possible liquidity accumulation or cash management strategies. Following this peak, a decline occurred, with amounts fluctuating between 1 and 4 billion US dollars, ending at about 4.3 billion. This variation suggests active cash flow management responsive to operational and investment needs.
- Inventory
- Inventory levels fluctuated considerably throughout the period. Initial inventory amounted to around 9.1 billion US dollars, increasing generally over time with occasional decreases. Notably, a peak near 17.1 billion was recorded in late 2022, followed by declines and slight recoveries. These variations indicate changes in stock management, supply chain dynamics, or sales demand cycles.
- Other Current Assets
- Other current assets remained relatively stable, ranging mostly between 1.3 and 2.3 billion US dollars. The values showed minor variation without a clear upward or downward trend, suggesting consistent levels of receivables or short-term assets aside from cash and inventory.
- Current Assets
- Current assets as a whole generally increased from around 11.6 billion to peaks above 22.5 billion, with some fluctuations during 2021 and 2022. The rise reflects growth in cash, inventory, and other current components, with occasional decreases indicating inventory adjustments or changes in working capital.
- Property and Equipment, Net
- Property and equipment, net of depreciation, exhibited a steady upward trend. Beginning near 25.7 billion US dollars, the asset base increased consistently each quarter, reaching approximately 33.6 billion by the end of the period. This steady growth suggests ongoing investment in fixed assets or expansions in physical infrastructure.
- Operating Lease Assets
- Operating lease assets experienced a gradual increase from about 2.0 billion to roughly 3.7 billion US dollars over the timeframe, with minor fluctuations. The growth likely reflects new lease agreements or reassessments of existing leases, indicating a moderately expanding leased asset portfolio.
- Other Noncurrent Assets
- This category remained generally stable, fluctuating narrowly between 1.2 and 1.7 billion US dollars. These minor changes suggest relatively constant investment in other long-term assets or financial instruments.
- Noncurrent Assets
- Noncurrent assets as a whole showed a steady increase, rising from approximately 29.0 billion to nearly 38.8 billion US dollars. This reflects cumulative growth in property and equipment, operating leases, and other long-term investments.
In summary, the overall asset base grew significantly over the analyzed periods, driven primarily by increases in fixed assets and inventory, while cash assets exhibited considerable volatility. The steady rise in noncurrent assets and property and equipment indicates a long-term investment focus, whereas fluctuations in current assets and cash suggest active operational adjustments. Inventory management appears dynamic, possibly responding to market conditions. These patterns highlight a balance between growth-oriented capital expenditure and tactical liquidity and inventory management.