Statement of Cash Flows

Difficulty level: Basic

The cash flow statement provides information about a company's cash receipts and cash payments during an accounting period, showing how these cash flaws link the ending cash balance to the beginning balance shown on the company's statement of financial position.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Target Corp., Consolidated Statement of Cash Flows

USD $ in millions

 
12 months ended Jan 31, 2015 Feb 1, 2014 Feb 2, 2013 Jan 28, 2012 Jan 29, 2011 Jan 30, 2010
Net earnings (loss) (1,636) 1,971  2,999  2,929  2,920  2,488 
Losses from discontinued operations, net of tax 4,085 
Net earnings from continuing operations 2,449  1,971  2,999  2,929  2,920  2,488 
Depreciation and amortization 2,129  2,223  2,142  2,131  2,084  2,023 
Share-based compensation expense 71  110  105  90  109  103 
Deferred income taxes (254) (14) 371  445  364 
Bad debt expense 41  206  154  528  1,185 
Gain on receivables transaction (391) (161)
Loss on debt extinguishment 285  445 
Noncash (gains) losses and other, net 40  82  14  22  (145) 200 
Accounts receivable originated at Target 157  (217) (187) (78) (57)
Proceeds on sale of accounts receivable originated at Target 2,703 
Inventory (512) (885) 15  (322) (417) (474)
Other assets (115) (248) (221) (107) (336) (407)
Accounts payable and accrued liabilities 777  566  457  353  161  456 
Changes in operating accounts 150  2,293  34  (263) (670) (482)
Adjustments to reconcile net earnings (loss) to cash provided by operations 2,682  4,549  2,326  2,505  2,351  3,393 
Cash provided by operations 5,131  6,520  5,325  5,434  5,271  5,881 
Expenditures for property and equipment (1,786) (3,453) (3,277) (4,368) (2,129) (1,729)
Proceeds from disposal of property and equipment 95  86  66  37  69  33 
Change in accounts receivable originated at third parties 121  254  259  363  (10)
Proceeds from sale of accounts receivable originated at third parties 3,002 
Cash paid for acquisitions, net of cash assumed (20) (157)
Other investments 106  130  102  (108) (47)
Cash required for investing activities (1,605) (271) (2,855) (4,180) (1,744) (1,703)
Change in commercial paper, net (80) (890) 970 
Additions to short-term debt 1,500 
Reductions of short-term debt (1,500)
Additions to long-term debt 1,993  1,971  1,994  1,011 
Reductions of long-term debt (2,079) (3,463) (1,529) (3,125) (2,259) (1,970)
Dividends paid (1,205) (1,006) (869) (750) (609) (496)
Repurchase of stock (1,461) (1,875) (1,842) (2,452) (423)
Stock option exercises and related tax benefit 373  456  360  89  294  47 
Other (16) (6)
Cash required for financing activities (998) (6,364) (2,488) (2,140) (4,015) (2,842)
Cash required for operating activities, discontinued operations (692)
Cash required for investing activities, discontinued operations (321)
Cash required for discontinued operations (1,013)
Effect of exchange rate changes on cash and cash equivalents 26  (32)
Net increase (decrease) in cash and cash equivalents 1,515  (89) (10) (918) (488) 1,336 
Cash and cash equivalents at beginning of period 695  784  794  1,712  2,200  864 
Cash and cash equivalents at end of period 2,210  695  784  794  1,712  2,200 
Source: Target Corp., Annual Reports
Item Description The company
Cash provided by operations The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. Target Corp.'s cash provided by operations increased from 2013 to 2014 but then declined significantly from 2014 to 2015.

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