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63
Total Assets by Segment
(millions) February 1,
2014 February 2,
2013
U.S. $ 38,128 $ 43,289
Canadian 6,254 4,722
Total segment assets $ 44,382 $ 48,011
Unallocated assets (a) 171 152
Total assets $ 44,553 $ 48,163
(a) At February 1, 2014, represents the beneficial interest asset of $127 million and insurance receivable related to the Data Breach of $44
million. At February 2, 2013, represents the net adjustment to eliminate our allowance for doubtful accounts and record our credit card
receivables at lower of cost (par) or fair value.
Capital Expenditures by Segment
(millions) 2013 2012(a) 2011
U.S. $ 1,886 $ 2,345 $ 2,476
Canadian 1,567 932 1,892
Total $ 3,453 $ 3,277 $ 4,368
(a) Consisted of 53 weeks.
29. Quarterly Results (Unaudited)
Due to the seasonal nature of our business, fourth quarter operating results typically represent a substantially larger
share of total year revenues and earnings because they include our peak sales period from Thanksgiving through the
end of December. We follow the same accounting policies for preparing quarterly and annual financial data. The table
below summarizes quarterly results for 2013 and 2012:
Quarterly Results First Quarter Second Quarter Third Quarter Fourth Quarter Total Year
(millions, except per share data) 2013 2012 2013 2012 2013 2012 2013 2012 (a) 2013 2012 (a)
Sales $ 16,706 $16,537 $17,117 $ 16,451 $ 17,258 $ 16,601 $ 21,516 $ 22,370 $ 72,596 $ 71,960
Credit card revenues —330 —328 —328 —356 —1,341
Total revenues 16,706 16,867 17,117 16,779 17,258 16,929 21,516 22,726 72,596 73,301
Cost of sales 11,563 11,541 11,745 11,297 12,133 11,569 15,719 16,160 51,160 50,568
Selling, general and administrative
expenses 3,590 3,392 3,698 3,588 3,853 3,704 4,235 4,229 15,375 14,914
Credit card expenses —120 —108 —106 —135 —467
Depreciation and amortization 536 529 542 531 569 542 576 539 2,223 2,142
Gain on receivables transaction (391)————(156) —(5) (391) (161)
Earnings before interest expense
and income taxes 1,408 1,285 1,132 1,255 703 1,164 986 1,668 4,229 5,371
Net interest expense 629 184 171 184 165 192 161 204 1,126 762
Earnings before income taxes 779 1,101 961 1,071 538 972 825 1,464 3,103 4,609
Provision for income taxes 281 404 350 367 197 335 305 503 1,132 1,610
Net earnings $ 498 $ 697 $ 611 $ 704 $ 341 $ 637 $ 520 $ 961 $ 1,971 $ 2,999
Basic earnings per share $ 0.78 $ 1.05 $ 0.96 $ 1.07 $ 0.54 $ 0.97 $ 0.82 $ 1.48 $ 3.10 $ 4.57
Diluted earnings per share 0.77 1.04 0.95 1.06 0.54 0.96 0.81 1.47 3.07 4.52
Dividends declared per share 0.36 0.30 0.43 0.36 0.43 0.36 0.43 0.36 1.65 1.38
Closing common stock price:
High 70.67 58.86 73.32 61.95 71.99 65.44 66.89 64.48 73.32 65.44
Low 60.85 50.33 68.29 54.81 62.13 60.62 56.64 58.57 56.64 50.33
Note: Per share amounts are computed independently for each of the quarters presented. The sum of the quarters may not equal the total year
amount due to the impact of changes in average quarterly shares outstanding and all other quarterly amounts may not equal the total year due to
rounding.
(a) The fourth quarter and total year 2013 consisted of 13 weeks and 52 weeks, respectively, compared with 14 weeks and 53 weeks in the
comparable prior-year periods.