Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

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 cash flow statement

US$ in millions

12 months ended:	Feb 3, 2024	Jan 28, 2023	Jan 29, 2022	Jan 30, 2021	Feb 1, 2020	Feb 2, 2019
Net earnings	4,138)	2,780)	6,946)	4,368)	3,281)	2,937)
Earnings from discontinued operations, net of tax	—)	—)	—)	—)	(12)	(7)
Net earnings from continuing operations	4,138)	2,780)	6,946)	4,368)	3,269)	2,930)
Depreciation and amortization	2,801)	2,700)	2,642)	2,485)	2,604)	2,474)
Share-based compensation expense	251)	220)	228)	200)	147)	132)
Deferred income taxes	298)	582)	522)	(184)	178)	322)
Gain on Dermstore sale	—)	—)	(335)	—)	—)	—)
Loss on debt extinguishment	—)	—)	—)	512)	10)	—)
Noncash (gains) losses and other, net	94)	172)	67)	86)	29)	95)
Inventory	1,613)	403)	(3,249)	(1,661)	505)	(900)
Other assets	(85)	22)	(78)	(137)	18)	(299)
Accounts payable	(1,216)	(2,237)	2,628)	2,925)	140)	1,127)
Accrued and other liabilities	727)	(624)	(746)	1,931)	199)	89)
Changes in operating accounts	1,039)	(2,436)	(1,445)	3,058)	862)	17)
Adjustments to reconcile net earnings from continuing operations to cash provided by operations	4,483)	1,238)	1,679)	6,157)	3,830)	3,040)
Cash provided by operating activities	8,621)	4,018)	8,625)	10,525)	7,099)	5,970)
Expenditures for property and equipment	(4,806)	(5,528)	(3,544)	(2,649)	(3,027)	(3,516)
Proceeds from disposal of property and equipment	24)	8)	27)	42)	63)	85)
Proceeds from Dermstore sale	—)	—)	356)	—)	—)	—)
Other investments	22)	16)	7)	16)	20)	15)
Cash required for investing activities	(4,760)	(5,504)	(3,154)	(2,591)	(2,944)	(3,416)
Additions to long-term debt	—)	2,625)	1,972)	2,480)	1,739)	—)
Reductions of long-term debt	(147)	(163)	(1,147)	(2,415)	(2,069)	(281)
Dividends paid	(2,011)	(1,836)	(1,548)	(1,343)	(1,330)	(1,335)
Repurchase of stock	—)	(2,646)	(7,188)	(745)	(1,565)	(2,124)
Shares withheld for taxes on share-based compensation	(127)	(180)	(168)	—)	—)	—)
Stock option exercises	—)	4)	8)	23)	73)	96)
Cash required for financing activities	(2,285)	(2,196)	(8,071)	(2,000)	(3,152)	(3,644)
Cash provided by operating activities, discontinued operations	—)	—)	—)	—)	18)	3)
Cash provided by discontinued operations	—)	—)	—)	—)	18)	3)
Net increase (decrease) in cash and cash equivalents	1,576)	(3,682)	(2,600)	5,934)	1,021)	(1,087)
Cash and cash equivalents at beginning of period	2,229)	5,911)	8,511)	2,577)	1,556)	2,643)
Cash and cash equivalents at end of period	3,805)	2,229)	5,911)	8,511)	2,577)	1,556)

Based on: 10-K (reporting date: 2024-02-03), 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02).

Download chart

Cash flow statement item	Description	The company
Cash provided by operating activities	Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.	Target Corp. cash provided by operating activities decreased from 2022 to 2023 but then increased from 2023 to 2024 not reaching 2022 level.
Cash required for investing activities	Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.	Target Corp. cash required for investing activities decreased from 2022 to 2023 but then slightly increased from 2023 to 2024.
Cash required for financing activities	Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.	Target Corp. cash required for financing activities increased from 2022 to 2023 but then slightly decreased from 2023 to 2024.

Target Corp. (NYSE:TGT)

Cash Flow Statement