Financial 8-10 pg paper

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tgtcashflow.xls

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Sheet: asreported

Target Corp (NYS: TGT)

Exchange rate used is that of the Year End reported date

As Reported Annual Cash Flow

Report Date

02/01/2014

02/02/2013

01/28/2012

01/29/2011

01/30/2010

Currency

USD

Audit Status

Not Qualified

Consolidated

Yes

Scale

Millions

Net earnings

1971.0

2999.0

2929.0

2920.0

2488.0

Depreciation & amortization

2223.0

2142.0

2131.0

2084.0

2023.0

Share-based compensation expense

110.0

105.0

90.0

109.0

103.0

Deferred income taxes

-254.0

-14.0

371.0

445.0

364.0

Bad debt expense

41.0

206.0

154.0

528.0

1185.0

Loss/impairment of property & equipment, net

97.0

Gain on receivables held for sale

-391.0

-161.0

Loss on debt extinguishment

445.0

Non-cash losses (gains) & other, net

82.0

14.0

22.0

-145.0

Other non-cash item affecting earnings

103.0

Accounts receivable originated at Target

157.0

-217.0

-187.0

-78.0

-57.0

Proceeds on sale of accounts receivable originated at Target

2703.0

Inventory

-885.0

15.0

-322.0

-417.0

-474.0

Other current assets

-267.0

-123.0

-150.0

-124.0

-280.0

Other noncurrent assets

19.0

-98.0

43.0

-212.0

-127.0

Accounts payable

625.0

199.0

232.0

115.0

174.0

Accrued & other current liabilities

-9.0

138.0

218.0

149.0

257.0

Other noncurrent liabilities

-50.0

120.0

-97.0

-103.0

25.0

Net cash flows from operating activities

6520.0

5325.0

5434.0

5271.0

5881.0

Expenditures for property & equipment

-3453.0

-3277.0

-4368.0

-2129.0

-1729.0

Proceeds from disposal of property & equipment

86.0

66.0

37.0

69.0

33.0

Change in accounts receivable originated at third parties

121.0

254.0

259.0

363.0

-10.0

Proceeds from sale of accounts receivable originated at third parties

3002.0

Cash paid for acquisitions, net of cash assumed

-157.0

Other investments

130.0

102.0

-108.0

-47.0

3.0

Net cash flows from investing activities

-271.0

-2855.0

-4180.0

-1744.0

-1703.0

Change in commercial paper, net

-890.0

970.0

Additions to short-term notes payable

1500.0

Reductions of short-term debt

-1500.0

Additions to long-term debt

1971.0

1994.0

1011.0

Reductions of long-term debt

-3463.0

-1529.0

-3125.0

-2259.0

-1970.0

Dividends paid

-1006.0

-869.0

-750.0

-609.0

-496.0

Repurchase of stock

-1461.0

-1875.0

-1842.0

-2452.0

-423.0

Stock option exercises & related tax benefit

456.0

360.0

89.0

294.0

47.0

Other financing activities

-16.0

-6.0

Net cash flows from financing activities

-6364.0

-2488.0

-2140.0

-4015.0

-2842.0

Effect of exchange rate changes on cash & cash equivalents

26.0

8.0

-32.0

Net increase (decrease) in cash & cash equivalents

-89.0

-10.0

-918.0

-488.0

1336.0

Cash & cash equivalents at beginning of year

784.0

794.0

1712.0

2200.0

864.0

Cash & cash equivalents at end of year

695.0

784.0

794.0

1712.0

2200.0

Cash paid for interest (net of interest capitalized)

1120.0

775.0

816.0

752.0

805.0

Cash paid for income taxes

1386.0

1603.0

1109.0

1259.0

1040.0