Balance Sheet: Liabilities and Stockholders’ Equity
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.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Target Corp., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in millions

	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	Feb 1, 2020	Nov 2, 2019	Aug 3, 2019	May 4, 2019
Accounts payable	13,792)	12,019)	11,823)	13,053)	14,419)	12,595)	11,561)	12,098)	14,291)	12,278)	11,935)	13,487)	15,438)	14,891)	14,053)	15,478)	16,250)	12,632)	11,637)	12,859)	14,203)	10,726)	9,625)	9,920)	11,258)	9,152)	8,360)
Accrued and other current liabilities	6,317)	6,068)	6,029)	6,110)	5,738)	5,749)	5,684)	6,090)	6,099)	5,948)	5,732)	5,883)	6,138)	5,905)	5,582)	6,098)	5,925)	5,600)	5,788)	6,122)	5,023)	5,057)	4,619)	4,406)	4,191)	4,059)	3,823)
Current portion of long-term debt and other borrowings	1,133)	1,136)	1,139)	1,636)	1,635)	1,640)	2,614)	1,116)	1,112)	1,106)	200)	130)	2,207)	1,649)	1,089)	171)	1,176)	1,190)	1,173)	1,144)	131)	109)	168)	161)	1,159)	1,153)	1,056)
Current liabilities	21,242)	19,223)	18,991)	20,799)	21,792)	19,984)	19,859)	19,304)	21,502)	19,332)	17,867)	19,500)	23,783)	22,445)	20,724)	21,747)	23,351)	19,422)	18,598)	20,125)	19,357)	15,892)	14,412)	14,487)	16,608)	14,364)	13,239)
Long-term debt and other borrowings, excluding current portion	15,366)	15,320)	14,334)	14,304)	14,346)	13,654)	13,487)	14,922)	14,883)	14,926)	16,010)	16,009)	14,237)	13,453)	13,379)	13,549)	11,586)	11,589)	11,509)	11,536)	12,490)	14,188)	14,073)	11,338)	10,513)	10,365)	11,357)
Noncurrent operating lease liabilities	3,542)	3,514)	3,564)	3,582)	3,418)	3,444)	3,392)	3,279)	3,031)	2,798)	2,621)	2,638)	2,590)	2,543)	2,581)	2,493)	2,494)	2,462)	2,337)	2,218)	2,196)	2,241)	2,249)	2,275)	2,208)	2,111)	2,064)
Deferred income taxes	2,279)	2,413)	2,338)	2,303)	2,419)	2,495)	2,543)	2,480)	2,447)	2,334)	2,289)	2,196)	2,240)	1,862)	1,752)	1,566)	1,246)	1,146)	1,169)	990)	1,171)	1,121)	1,122)	1,122)	1,215)	1,082)	1,034)
Other noncurrent liabilities	2,061)	1,961)	2,011)	2,115)	2,067)	1,989)	1,996)	1,939)	1,852)	1,826)	1,758)	1,760)	1,746)	1,575)	1,632)	1,629)	1,931)	1,906)	1,899)	1,939)	2,128)	1,980)	1,781)	1,724)	1,652)	1,808)	1,808)
Noncurrent liabilities	23,248)	23,208)	22,247)	22,304)	22,250)	21,582)	21,418)	22,620)	22,213)	21,884)	22,678)	22,603)	20,813)	19,433)	19,344)	19,237)	17,257)	17,103)	16,914)	16,683)	17,985)	19,530)	19,225)	16,459)	15,588)	15,366)	16,263)
Total liabilities	44,490)	42,431)	41,238)	43,103)	44,042)	41,566)	41,277)	41,924)	43,715)	41,216)	40,545)	42,103)	44,596)	41,878)	40,068)	40,984)	40,608)	36,525)	35,512)	36,808)	37,342)	35,422)	33,637)	30,946)	32,196)	29,730)	29,502)
Common stock	38)	38)	38)	38)	38)	38)	39)	38)	38)	38)	38)	38)	38)	38)	39)	39)	40)	41)	41)	42)	42)	42)	42)	42)	42)	43)	43)
Additional paid-in-capital	7,157)	7,084)	7,011)	6,996)	6,916)	6,831)	6,747)	6,761)	6,681)	6,610)	6,541)	6,608)	6,558)	6,502)	5,592)	6,421)	6,381)	6,332)	6,271)	6,329)	6,285)	6,248)	6,206)	6,226)	6,006)	6,114)	5,908)
Retained earnings	8,777)	8,766)	8,360)	8,090)	8,009)	8,030)	7,519)	7,093)	6,225)	5,767)	5,448)	5,005)	4,631)	4,421)	5,495)	6,920)	8,069)	9,200)	9,372)	8,825)	7,789)	7,121)	5,775)	6,433)	6,270)	6,461)	5,958)
Accumulated other comprehensive loss	(471)	(468)	(462)	(458)	(474)	(470)	(465)	(460)	(430)	(425)	(422)	(419)	(208)	(369)	(352)	(553)	(687)	(713)	(725)	(756)	(797)	(833)	(854)	(868)	(773)	(782)	(792)
Shareholders’ investment	15,501)	15,420)	14,947)	14,666)	14,489)	14,429)	13,840)	13,432)	12,514)	11,990)	11,605)	11,232)	11,019)	10,592)	10,774)	12,827)	13,803)	14,860)	14,959)	14,440)	13,319)	12,578)	11,169)	11,833)	11,545)	11,836)	11,117)
Total liabilities and shareholders’ investment	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)	42,779)	43,741)	41,566)	40,619)

The analysis of the quarterly financial data reveals several notable trends in the company's liabilities and shareholders’ investment over the observed periods.

Accounts Payable: Accounts payable shows considerable fluctuations, increasing significantly from approximately $8.4 billion to a peak near $16.3 billion during late 2021, before declining and stabilizing in the range of $11.8 billion to $14.4 billion in the most recent quarters. This volatility suggests varying levels of short-term obligations and changes in purchasing or payment cycles.
Accrued and Other Current Liabilities: This category generally trends upward with moderate fluctuations, rising from about $3.8 billion to just over $6.3 billion by the latest period. The consistent increase reflects growing current operational obligations or accrued expenses.
Current Portion of Long-term Debt and Other Borrowings: The current portion of long-term debt exhibits notable volatility, with some quarters showing sharp decreases, such as in early 2020 and early 2023, and other quarters presenting spikes up to around $2.6 billion. This pattern may indicate refinancing activities, principal repayments, or shifting debt maturities.
Current Liabilities (Total): Total current liabilities also demonstrate substantial variability, increasing from approximately $13.2 billion to a peak of about $23.4 billion in late 2021, followed by declines and renewed increases in the latest periods. This trend aligns with the movements observed in accounts payable and accrued liabilities, suggesting changing operational liabilities over time.
Long-term Debt and Other Borrowings (Excluding Current Portion): Long-term debt levels fluctuate within a range of roughly $10.4 billion to $16 billion, with peaks in the early 2020s and some stability afterward. This indicates ongoing management of long-term financing, likely reflecting debt issuance, repayments, or refinancing.
Noncurrent Operating Lease Liabilities: Noncurrent operating lease liabilities show a steady upward trajectory, increasing from about $2.1 billion to approximately $3.5 billion by the latest period. The increase suggests growing lease commitments or changes in lease accounting recognition over time.
Deferred Income Taxes: Deferred income taxes display a general rising trend from roughly $1 billion to a peak of around $2.5 billion, then leveling off near $2.3 billion in the most recent quarters. This indicates growing deferred tax liabilities, possibly related to timing differences from various taxable items.
Other Noncurrent Liabilities: Other noncurrent liabilities remain relatively stable with minor fluctuations, hovering around $1.6 to $2 billion throughout the periods, reflecting a steady base of liabilities not classified elsewhere.
Noncurrent Liabilities (Total): Aggregate noncurrent liabilities trend upwards from about $16.3 billion to approximately $23.2 billion, indicating an overall increase in long-term financial obligations.
Total Liabilities: Total liabilities increased from approximately $29.5 billion to a peak around $44.6 billion in late 2022, with some decreases in subsequent periods but remaining elevated above $41 billion. This reflects the combined effect of current and noncurrent liabilities growth over time.
Common Stock: Common stock shows a slight declining trend in value from $43 million to $38 million, likely due to share repurchases or restructuring of share classes, but the change is relatively minor.
Additional Paid-in Capital: This component mostly increases over time, rising from about $5.9 billion to over $7.1 billion. This increase suggests accumulated capital contributions or equity transactions beyond the par value of common stock.
Retained Earnings: Retained earnings exhibit variability, initially increasing to over $9.3 billion in early 2021, then declining sharply to around $4.4 billion in mid-2022, followed by a resumption of growth to approximately $8.8 billion by the latest period. This pattern could be driven by net income fluctuations, dividend payments, or adjustments in accounting policies.
Accumulated Other Comprehensive Loss: This item shows a consistent slight increase in loss magnitude, moving from approximately -$792 million to around -$471 million, indicating some reduction in cumulative comprehensive losses over time.
Shareholders’ Investment (Total Equity): Total shareholders’ investment generally increases from $11.1 billion to about $15.5 billion, with some intermediate declines, reflecting overall growth in equity value through retained earnings and paid-in capital changes.
Total Liabilities and Shareholders' Investment: The balance sheet total grows from roughly $40.6 billion to nearly $60 billion, indicating an expanding company size in terms of assets financed by liabilities and equity.

Overall, the financial data suggests that the company has experienced growth in both liabilities and equity over the periods analyzed, with particular volatility in current liabilities and retained earnings. Long-term obligations, especially debt and lease liabilities, have increased steadily. Equity growth driven by additional paid-in capital and rebuilding retained earnings after mid-period declines supports an expanding capital base. The data indicate active financial management with fluctuations likely linked to operational cycles, financing activities, and accounting updates.

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Target Corp. (NYSE:TGT)

Balance Sheet: Liabilities and Stockholders’ Equity Quarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data