Target 2007 Annual Report Download - page 25

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The following table summarizes the number of owned or leased stores and distribution centers at
February 2, 2008:
Distribution
Stores Centers
Owned 1,352 26
Leased 73 5
Combined (a) 166 1
Total 1,591 32 (b)
(a) Properties within the ‘‘combined’’ category are primarily owned buildings on leased land.
(b) The 32 distribution centers have a total of 45,069 thousand square feet.
We own our corporate headquarters buildings located in Minneapolis, Minnesota, and we lease and own
additional office space in the United States. Our international sourcing operations have 34 office locations in
24 countries, all of which are leased. We also lease office space in Bangalore, India, where we operate various
support functions. Our properties are in good condition, well maintained and suitable to carry on our
business.
For additional information on our properties see also (1) Capital Expenditures section in Item 7,
Management’s Discussion and Analysis of Financial Condition and Results of Operations and (2) Note 12 and
Note 21 of the Notes to Consolidated Financial Statements in Item 8, Financial Statements and
Supplementary Data.
Item 3. Legal Proceedings
SEC Rule S-K Item 103 requires that companies disclose environmental legal proceedings involving a
governmental authority when such proceedings involve potential monetary sanctions of $100,000 or more.
We are a party to an administrative action by governmental authorities involving environmental matters that
may involve potential monetary sanctions in excess of $100,000. The allegation made by the California
Environmental Protection Agency Air Resources Board (CARB) involves a non-food product (windshield wiper
fluid) we formerly sold that allegedly contained levels of a volatile organic compound in excess of permissible
levels. The allegation was made in March 2006 and we expect the sanctions for this matter will not exceed
$200,000. In addition, we are one of many defendants in a lawsuit filed on February 13, 2008, by the state of
California involving environmental matters that may involve potential monetary sanctions in excess of
$100,000. The allegation, initially made by CARB in April 2006, involves a non-food product (hairspray) sold
that contained levels of a volatile organic compound in excess of permissible levels. We anticipate that the
settlement, to be fully indemnified by the vendor, is likely to exceed $100,000. For a description of other legal
proceedings see Note 17.
The American Jobs Creation Act of 2004 requires SEC registrants to disclose if they have been required
to pay certain penalties for failing to disclose to the Internal Revenue Service their participation in listed
transactions. We have not been required to pay any of the penalties set forth in Section 6707A(e)(2) of the
Internal Revenue Code.
Item 4. Submission of Matters to a Vote of Security Holders
Not Applicable.
7
PART I