Target 2004 Annual Report Download - page 27

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25
January 29, January 31,
(millions) 2005 2004
Assets
Cash and cash equivalents $ 2,245 $ 708
Accounts receivable, net 5,069 4,621
Inventory 5,384 4,531
Other current assets 1,224 1,000
Current assets of discontinued operations —2,092
Total current assets 13,922 12,952
Property and equipment
Land 3,804 3,312
Buildings and improvements 12,518 11,022
Fixtures and equipment 4,988 4,577
Construction-in-progress 962 969
Accumulated depreciation (5,412) (4,727)
Property and equipment, net 16,860 15,153
Other non-current assets 1,511 1,377
Non-current assets of discontinued operations —1,934
Total assets $32,293 $31,416
Liabilities and shareholders’ investment
Accounts payable $ 5,779 $ 4,956
Accrued liabilities 1,633 1,288
Income taxes payable 304 382
Current portion of long-term debt and notes payable 504 863
Current liabilities of discontinued operations —825
Total current liabilities 8,220 8,314
Long-term debt 9,034 10,155
Deferred income taxes 973 632
Other non-current liabilities 1,037 917
Non-current liabilities of discontinued operations —266
Shareholders’ investment
Common stock*74 76
Additional paid-in-capital 1,810 1,530
Retained earnings 11,148 9,523
Accumulated other comprehensive income (3) 3
Total shareholders’ investment 13,029 11,132
Total liabilities and shareholders’ investment $32,293 $31,416
*Common Stock Authorized 6,000,000,000 shares, $.0833 par value; 890,643,966 shares issued and outstanding at January 29, 2005; 911,808,051 shares issued and
outstanding at January 31, 2004.
*Preferred Stock Authorized 5,000,000 shares, $.01 par value; no shares were issued or outstanding at January 29, 2005 or January 31, 2004.
See Notes to Consolidated Financial Statements throughout pages 28-37.
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION