Stock Analysis on Net

Target Corp. (NYSE:TGT)

Income Statement 

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Target Corp., consolidated income statement

US$ in millions

Microsoft Excel
12 months ended: Jan 29, 2022 Jan 30, 2021 Feb 1, 2020 Feb 2, 2019 Feb 3, 2018 Jan 28, 2017
Sales 104,611  92,400  77,130  74,433  71,879  69,495 
Cost of sales (74,963) (66,177) (54,864) (53,299) (51,125) (48,872)
Gross margin 29,648  26,223  22,266  21,134  20,754  20,623 
Other revenue 1,394  1,161  982  923  —  — 
Selling, general and administrative expenses (19,752) (18,615) (16,233) (15,723) (14,248) (13,356)
Depreciation and amortization, exclusive of depreciation included in cost of sales (2,344) (2,230) (2,357) (2,224) (2,194) (2,298)
Operating income 8,946  6,539  4,658  4,110  4,312  4,969 
Net interest expense (421) (977) (477) (461) (666) (1,004)
Net other income (expense) 382  (16) 27  —  — 
Earnings from continuing operations before income taxes 8,907  5,546  4,190  3,676  3,646  3,965 
Provision for income taxes (1,961) (1,178) (921) (746) (718) (1,296)
Net earnings from continuing operations 6,946  4,368  3,269  2,930  2,928  2,669 
Discontinued operations, net of tax —  —  12  68 
Net earnings 6,946  4,368  3,281  2,937  2,934  2,737 

Based on: 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28).

Income statement item Description The company
Sales Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Target Corp. sales increased from 2020 to 2021 and from 2021 to 2022.
Operating income The net result for the period of deducting operating expenses from operating revenues. Target Corp. operating income increased from 2020 to 2021 and from 2021 to 2022.
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. earnings from continuing operations before income taxes increased from 2020 to 2021 and from 2021 to 2022.
Net earnings The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Target Corp. net earnings increased from 2020 to 2021 and from 2021 to 2022.