TARGET CORP
For the period ended Feb 1, 2025. Filed Mar 12, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Mar 12, 2025
TGT$161.78-2.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| FINANCIAL STATEMENTS | Table of Contents |
| Index to Financial Statements |
Consolidated Statements of Cash Flows
| (millions) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Operating activities | |||
| Net earnings | $4,091 | $4,138 | $2,780 |
| Adjustments to reconcile net earnings to cash provided by operations: | |||
| Depreciation and amortization | 2,981 | 2,801 | 2,700 |
| Share-based compensation expense | 304 | 251 | 220 |
| Deferred income taxes | (180) | 298 | 582 |
| Noncash losses / (gains) and other, net | 26 | 94 | 172 |
| Changes in operating accounts: | |||
| Inventory | (854) | 1,613 | 403 |
| Other assets | (308) | (85) | 22 |
| Accounts payable | 1,008 | (1,216) | (2,237) |
| Accrued and other liabilities | 299 | 727 | (624) |
| Cash provided by operating activities | 7,367 | 8,621 | 4,018 |
| Investing activities | |||
| Expenditures for property and equipment | (2,891) | (4,806) | (5,528) |
| Proceeds from disposal of property and equipment | 3 | 24 | 8 |
| Other investments | 28 | 22 | 16 |
| Cash required for investing activities | (2,860) | (4,760) | (5,504) |
| Financing activities | |||
| Additions to long-term debt | 741 | — | 2,625 |
| Reductions of long-term debt | (1,139) | (147) | (163) |
| Dividends paid | (2,046) | (2,011) | (1,836) |
| Repurchase of stock | (1,007) | — | (2,646) |
| Shares withheld for taxes on share-based compensation | (99) | (127) | (180) |
| Stock option exercises | — | — | 4 |
| Cash required for financing activities | (3,550) | (2,285) | (2,196) |
| Net increase / (decrease) in cash and cash equivalents | 957 | 1,576 | (3,682) |
| Cash and cash equivalents at beginning of period | 3,805 | 2,229 | 5,911 |
| Cash and cash equivalents at end of period | $4,762 | $3,805 | $2,229 |
| Supplemental information | |||
| Interest paid, net of capitalized interest | $615 | $605 | $449 |
| Income taxes paid | 1,055 | 374 | 213 |
| Leased assets obtained in exchange for new finance lease liabilities | 319 | 104 | 224 |
| Leased assets obtained in exchange for new operating lease liabilities | 758 | 1,027 | 329 |
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