Stock Analysis on Net
Stock Analysis on Net

Target Corp. (NYSE:TGT)

Income Statement
Quarterly Data

The income statement presents information on the financial results of a company’s 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 (quarterly data)

US$ in millions

Microsoft Excel LibreOffice Calc
3 months ended: Jul 31, 2021 May 1, 2021 Jan 30, 2021 Oct 31, 2020 Aug 1, 2020 May 2, 2020 Feb 1, 2020 Nov 2, 2019 Aug 3, 2019 May 4, 2019 Feb 2, 2019 Nov 3, 2018 Aug 4, 2018 May 5, 2018 Feb 3, 2018 Oct 28, 2017 Jul 29, 2017 Apr 29, 2017 Jan 28, 2017 Oct 29, 2016 Jul 30, 2016 Apr 30, 2016 Jan 30, 2016 Oct 31, 2015 Aug 1, 2015 May 2, 2015
Sales 24,826  23,879  27,997  22,336  22,696  19,371  23,132  18,414  18,183  17,401  22,735  17,590  17,552  16,556  22,766  16,667  16,429  16,017  20,689  16,441  16,169  16,196  21,626  17,613  17,427  17,119 
Cost of sales (17,280) (16,716) (20,485) (15,509) (15,673) (14,510) (17,056) (12,935) (12,625) (12,248) (16,900) (12,535) (12,239) (11,625) (16,860) (11,712) (11,419) (11,134) (15,114) (11,471) (11,102) (11,185) (15,595) (12,440) (12,051) (11,911)
Gross margin 7,546  7,163  7,512  6,827  7,023  4,861  6,076  5,479  5,558  5,153  5,835  5,055  5,313  4,931  5,906  4,955  5,010  4,883  5,575  4,970  5,067  5,011  6,031  5,173  5,376  5,208 
Other revenue 334  318  342  296  279  244  266  251  239  226  243  231  224  225  —  —  —  —  —  —  —  —  —  —  —  — 
Selling, general and administrative expenses (4,849) (4,509) (5,448) (4,647) (4,460) (4,060) (4,505) (4,153) (3,912) (3,663) (4,376) (3,937) (3,865) (3,545) (4,222) (3,512) (3,382) (3,132) (3,615) (3,339) (3,249) (3,153) (3,920) (3,736) (3,495) (3,514)
Depreciation and amortization, exclusive of depreciation included in cost of sales (564) (598) (570) (541) (542) (577) (640) (575) (561) (581) (585) (530) (539) (570) (533) (574) (514) (573) (612) (570) (570) (546) (561) (561) (551) (540)
Gain on sale —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  620  —  —  — 
Operating income 2,467  2,374  1,836  1,935  2,300  468  1,197  1,002  1,324  1,135  1,117  819  1,133  1,041  1,151  869  1,114  1,178  1,348  1,061  1,248  1,312  2,170  876  1,330  1,154 
Net interest expense (104) (108) (106) (632) (122) (117) (118) (113) (120) (126) (110) (115) (115) (121) (133) (254) (135) (144) (140) (142) (307) (415) (153) (151) (148) (155)
Net other income (expense) 343  —  (5) 11  (22) (28) 12  13  12  —  —  —  —  —  —  —  —  —  —  —  — 
Earnings from continuing operations before income taxes 2,370  2,609  1,730  1,298  2,189  329  1,051  901  1,217  1,021  1,014  713  1,022  927  1,018  615  979  1,034  1,208  919  941  897  2,017  725  1,182  999 
Provision for income taxes (553) (512) (350) (284) (499) (45) (218) (195) (279) (229) (216) (97) (223) (210) 84  (137) (308) (357) (386) (311) (316) (283) (596) (249) (409) (348)
Net earnings from continuing operations 1,817  2,097  1,380  1,014  1,690  284  833  706  938  792  798  616  799  717  1,102  478  671  677  822  608  625  614  1,421  476  773  651 
Discontinued operations, net of tax —  —  —  —  —  —  —  —  —  (1) (5) —  55  18  73  (20) (16)
Net earnings 1,817  2,097  1,380  1,014  1,690  284  834  714  938  795  798  622  799  718  1,101  480  672  681  817  608  680  632  1,426  549  753  635 

Based on: 10-Q (filing date: 2021-08-27), 10-Q (filing date: 2021-05-28), 10-K (filing date: 2021-03-10), 10-Q (filing date: 2020-11-25), 10-Q (filing date: 2020-08-28), 10-Q (filing date: 2020-05-29), 10-K (filing date: 2020-03-11), 10-Q (filing date: 2019-11-27), 10-Q (filing date: 2019-08-30), 10-Q (filing date: 2019-05-31), 10-K (filing date: 2019-03-13), 10-Q (filing date: 2018-11-27), 10-Q (filing date: 2018-08-27), 10-Q (filing date: 2018-05-29), 10-K (filing date: 2018-03-14), 10-Q (filing date: 2017-11-20), 10-Q (filing date: 2017-08-21), 10-Q (filing date: 2017-05-22), 10-K (filing date: 2017-03-08), 10-Q (filing date: 2016-11-23), 10-Q (filing date: 2016-08-24), 10-Q (filing date: 2016-05-25), 10-K (filing date: 2016-03-11), 10-Q (filing date: 2015-11-25), 10-Q (filing date: 2015-08-25), 10-Q (filing date: 2015-05-28).

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.’s sales decreased from Q4 2021 to Q1 2022 but then slightly increased from Q1 2022 to Q2 2022.
Operating income The net result for the period of deducting operating expenses from operating revenues. Target Corp.’s operating income increased from Q4 2021 to Q1 2022 and from Q1 2022 to Q2 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.’s earnings from continuing operations before income taxes increased from Q4 2021 to Q1 2022 but then slightly decreased from Q1 2022 to Q2 2022.
Net earnings The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Target Corp.’s net earnings increased from Q4 2021 to Q1 2022 but then slightly decreased from Q1 2022 to Q2 2022.