Accounting
Leviathan
Target10KFY2017FSOnly.xlsxConsolidated Statements of Oper
| Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions | 12 Months Ended | |||
| Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | ||
| Income Statement [Abstract] | ||||
| Sales | $ 71,879 | $ 69,495 | $ 73,785 | |
| Cost of sales (a) | [1] | 51,125 | 49,145 | 52,241 |
| Gross margin | 20,754 | 20,350 | 21,544 | |
| Selling, general and administrative expenses | 14,248 | 13,356 | 14,665 | |
| Depreciation and amortization (exclusive of depreciation included in cost of sales) | [1] | 2,194 | 2,025 | 1,969 |
| Gain on sale | 0 | 0 | (620) | |
| Earnings from continuing operations before interest expense and income taxes | 4,312 | 4,969 | 5,530 | |
| Net interest expense | 666 | 1,004 | 607 | |
| Earnings from continuing operations before income taxes | 3,646 | 3,965 | 4,923 | |
| Provision for income taxes | 718 | 1,296 | 1,602 | |
| Net earnings from continuing operations | 2,928 | 2,669 | 3,321 | |
| Discontinued operations, net of tax | 6 | 68 | 42 | |
| Net earnings | $ 2,934 | $ 2,737 | $ 3,363 | |
| 4.1% | 3.9% | 4.6% | ||
| Basic earnings per share | ||||
| Continuing operations (in dollars per share) | $ 5.35 | $ 4.62 | $ 5.29 | |
| Discontinued operations (in dollars per share) | 0.01 | 0.12 | 0.07 | |
| Net earnings/(loss) per share (in dollars per share) | 5.36 | 4.74 | 5.35 | |
| Diluted earnings per share | ||||
| Continuing operations (in dollars per share) | 5.32 | 4.58 | 5.25 | |
| Discontinued operations (in dollars per share) | 0.01 | 0.12 | 0.07 | |
| Net earnings/(loss) per share (in dollars per share) | $ 5.33 | $ 4.70 | $ 5.31 | |
| Weighted average common shares outstanding | ||||
| Basic (in shares) | 546.8 | 577.6 | 627.7 | |
| Dilutive effect of share-based awards (in shares) | 3.5 | 4.9 | 5.2 | |
| Diluted (in shares) | 550.3 | 582.5 | 632.9 | |
| Antidilutive shares (in shares) | 4.1 | 0.1 | 0 | |
| Dividends declared per share (in dollars per share) | $ 2.46 | $ 2.36 | $ 2.20 | |
Consolidated Statements of Fina
| Consolidated Statements of Financial Position - USD ($) $ in Millions | Feb. 03, 2018 | Jan. 28, 2017 |
| Assets | ||
| Cash and cash equivalents | $ 2,643 | $ 2,512 |
| Inventory | 8,657 | 8,309 |
| Inventory as % of Total Assets | 22.2% | 22.2% |
| Other current assets | 1,264 | 1,169 |
| Total current assets | 12,564 | 11,990 |
| Property and equipment | ||
| Land | 6,095 | 6,106 |
| Buildings and improvements | 28,396 | 27,611 |
| Fixtures and equipment | 5,623 | 5,503 |
| Computer hardware and software | 2,645 | 2,651 |
| Construction-in-progress | 440 | 200 |
| Total Property and Equipment Cost | 43,199 | 42,071 |
| Accumulated depreciation | (18,181) | (17,413) |
| Property and equipment, net | 25,018 | 24,658 |
| P&E as % of Total Assets | 64.2% | 65.9% |
| Other noncurrent assets | 1,417 | 783 |
| Total assets | 38,999 | 37,431 |
| Liabilities and shareholders' investment | ||
| Accounts payable | 8,677 | 7,252 |
| Accrued and other current liabilities | 4,254 | 3,737 |
| Current portion of long-term debt and other borrowings | 270 | 1,718 |
| Total current liabilities | 13,201 | 12,707 |
| Long-term debt and other borrowings | 11,317 | 11,031 |
| Deferred income taxes | 713 | 861 |
| Other noncurrent liabilities | 2,059 | 1,879 |
| Total noncurrent liabilities | 14,089 | 13,771 |
| Shareholders' investment | ||
| Common stock | 45 | 46 |
| Additional paid-in capital | 5,858 | 5,661 |
| Retained earnings | 6,553 | 5,884 |
| Accumulated other comprehensive loss | (747) | (638) |
| Total shareholders' investment | 11,709 | 10,953 |
| Total liabilities and shareholders' investment | $ 38,999 | $ 37,431 |
| Common Stock Authorized 6,000,000,000 shares, $0.0833 par value; 541,681,670 shares issued and | ||
| outstanding at February 3, 2018; 556,156,228 shares issued and outstanding at January 28, 2017. | ||
| Preferred Stock Authorized 5,000,000 shares, $0.01 par value; no shares were issued or outstanding | ||
| at February 3, 2018 or January 28, 2017. |
Consolidated Statements of Cash
| Consolidated Statements of Cash Flows - USD ($) $ in Millions | 12 Months Ended | ||
| Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | |
| Operating activities | |||
| Net earnings | $ 2,934 | $ 2,737 | $ 3,363 |
| Earnings from discontinued operations, net of tax | 6 | 68 | 42 |
| Net earnings from continuing operations | 2,928 | 2,669 | 3,321 |
| Adjustments to reconcile net earnings to cash provided by operations: | |||
| Depreciation and amortization | 2,445 | 2,298 | 2,213 |
| Share-based compensation expense | 112 | 113 | 115 |
| Deferred income taxes | (192) | 41 | (322) |
| Gain on sale | 0 | 0 | (620) |
| Loss on debt extinguishment | 123 | 422 | 0 |
| Noncash (gains) / losses and other, net | 192 | (21) | 57 |
| Changes in operating accounts: | |||
| Inventory | (348) | 293 | (316) |
| Other assets | 168 | (30) | (221) |
| Accounts payable | 1,307 | (166) | (362) |
| Accrued and other liabilities | 450 | (350) | 947 |
| Cash provided by operating activities—continuing operations | 6,849 | 5,329 | 5,254 |
| Cash provided by operating activities—discontinued operations | 74 | 107 | 704 |
| Cash provided by operations | 6,923 | 5,436 | 5,958 |
| Investing activities | |||
| Expenditures for property and equipment | (2,533) | (1,547) | (1,438) |
| Proceeds from disposal of property and equipment | 31 | 46 | 28 |
| Proceeds from sale of businesses | 0 | 0 | 1,875 |
| Cash paid for acquisitions, net of cash assumed | (518) | 0 | 0 |
| Other investments | (55) | 28 | 24 |
| Cash (required for) / provided by investing activities—continuing operations | (3,075) | (1,473) | 489 |
| Cash provided by investing activities—discontinued operations | 0 | 0 | 19 |
| Cash (required for) / provided by investing activities | (3,075) | (1,473) | 508 |
| Financing activities | |||
| Additions to long-term debt | 739 | 1,977 | 0 |
| Reductions of long-term debt | (2,180) | (2,641) | (85) |
| Dividends paid | (1,338) | (1,348) | (1,362) |
| Repurchase of stock | (1,046) | (3,706) | (3,483) |
| Stock option exercises | 108 | 221 | 300 |
| Cash required for financing activities | (3,717) | (5,497) | (4,630) |
| Net increase / (decrease) in cash and cash equivalents | 131 | (1,534) | 1,836 |
| Cash and cash equivalents at beginning of period | 2,512 | 4,046 | 2,210 |
| Cash and cash equivalents at end of period | 2,643 | 2,512 | 4,046 |
| Supplemental information | |||
| Interest paid, net of capitalized interest | 678 | 999 | 604 |
| Income taxes paid / (refunded) | 934 | 1,514 | (127) |
| Property and equipment acquired through capital lease obligations | $ 173 | $ 238 | $ 126 |
Consolidated Statements of Shar
| Consolidated Statements of Shareholders' Investment - USD ($) $ in Millions | 12 Months Ended | |||
| Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | ||
| Increase (Decrease) in Stockholders' Equity | ||||
| Beginning balance (in shares) | 556,156,228 | |||
| Beginning balance | $ 10,953 | $ 12,957 | $ 13,997 | |
| Net earnings / (loss) | 2,934 | 2,737 | 3,363 | |
| Other comprehensive income / (loss) | 8 | (9) | (30) | |
| Dividends declared | $ (1,356) | $ (1,359) | $ (1,378) | |
| Repurchase of stock (in shares) | (17,600,000) | (50,900,000) | (44,700,000) | |
| Repurchase of stock | $ (1,027) | $ (3,686) | $ (3,445) | |
| Stock options and awards | 197 | 313 | 450 | |
| Ending balance | $ 11,709 | $ 10,953 | $ 12,957 | |
| Ending balance (in shares) | 541,681,670 | 556,156,228 | ||
| Common Stock | ||||
| Increase (Decrease) in Stockholders' Equity | ||||
| Beginning balance (in shares) | 556,200,000 | 602,200,000 | 640,200,000 | |
| Beginning balance | $ 46 | $ 50 | $ 53 | |
| Repurchase of stock (in shares) | (17,600,000) | (50,900,000) | (44,700,000) | |
| Repurchase of stock | $ (1) | $ (4) | $ (4) | |
| Stock options and awards (in shares) | 3,100,000 | 4,900,000 | 6,700,000 | |
| Stock options and awards | $ 0 | $ 0 | $ 1 | |
| Ending balance | $ 45 | $ 46 | $ 50 | |
| Ending balance (in shares) | 541,700,000 | 556,200,000 | 602,200,000 | |
| Additional Paid-in Capital | ||||
| Increase (Decrease) in Stockholders' Equity | ||||
| Beginning balance | $ 5,661 | $ 5,348 | $ 4,899 | |
| Stock options and awards | 197 | 313 | 449 | |
| Ending balance | 5,858 | 5,661 | 5,348 | |
| Retained Earnings | ||||
| Increase (Decrease) in Stockholders' Equity | ||||
| Beginning balance | 5,884 | 8,188 | 9,644 | |
| Net earnings / (loss) | 2,934 | 2,737 | 3,363 | |
| Dividends declared | (1,356) | (1,359) | (1,378) | |
| Repurchase of stock | (1,026) | (3,682) | (3,441) | |
| Reclassification of tax effects to Retained Earnings | [1] | 117 | ||
| Ending balance | 6,553 | 5,884 | 8,188 | |
| Accumulated Other Comprehensive (Loss) / Income | ||||
| Increase (Decrease) in Stockholders' Equity | ||||
| Beginning balance | (638) | (629) | (599) | |
| Other comprehensive income / (loss) | 8 | (9) | (30) | |
| Reclassification of tax effects to Retained Earnings | [1] | (117) | ||
| Ending balance | $ (747) | $ (638) | $ (629) | |
