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Consolidated Statements of Operations Three Months Ended November 2, November 3, 2019 2018 $ 18,414 $ 17,590 251 231 18,665 17,821 12,935 12,535 4,153 3,937 Change 4.7% 8.8 4.7 3.2 5.5 Nine Months Ended November 2, November 3, 2018 $ 53,997 $ 51,699 716 680 54,713 52,379 37,808 36,400 11,728 11,347 Change 4.4 5.3 4.5 3.9 3.4 575 1,002 113 (12) 530 819 115 (9) 8.5 22.3 (1.6) 36.5 1,717 3,460 359 (38) 1.6394 .8 2,993 15.6 352 2.0 (21) 83.8 901 195 706 713 97 616 26.3 100.8 14.5 3,139 703 2,436 2,662 530 2,132 179 32.8 14.3 (millions, except per share data) (unaudited) Sales Other revenue Total revenue Cost of sales Selling, general and administrative expenses Depreciation and amortization (exclusive of depreciation included in cost of sales) Operating income Net interest expense Net other (income) /expense Earnings from continuing operations before income taxes Provision for income taxes Net earnings from continuing operations Discontinued operations, net of tax Net earnings Basic earnings per share Continuing operations Discontinued operations Net earnings per share Diluted earnings per share Continuing operations Discontinued operations Net earnings per share Weighted average common shares outstanding Basic Diluted Antidilutive shares S 714 $ 622 14.8 % S 2,447 $ 2,139 14.4 S S 18.2% $ 18.5 1.38 0.02 1.40 1.17 0.01 1.18 4.75 S 0.02 4.77 $ 4.01 0.01 4.02 $ $ 18.5% $ 18.6 S S 18.2% $ 18.5 1.37 0.02 1.39 1.16 0.01 1.17 4.71 $ 0.02 4.74 $ 3.98 0.01 3.99 $ $ 18.5% S 18.7 509. 7 514.8 5 25.9 531.2 (3.1)% (3.19% 512.5 516.8 531.5 536.2 (3.6) (3.6) 0.64 3.1 % 1.96 $ 1.90 3.2 Dividends declared per share S 0.66 S Note: Per share amounts may not foot due to rounding. TARGET CORPORATION Consolidated Statements of Financial Position November 2, February 2, November 3, (millions, except footnotes) (unaudited) 2019 2019 2018 Assets Cash and cash equivalents S 969 $ 1,556 S 825 Inventory 11,396 9,497 12,393 Other current assets 1,440 1,466 1,421 Total current assets 13,805 12,519 14,639 Property and equipment Land 6,040 6,064 6,069 Buildings and improvements 30,467 29,240 29,090 Fixtures and equipment 6,032 5,912 5,784 Computer hardware and software 2,636 2,544 2,660 Construction-in-progress 298 460 384 Accumulated depreciation (19.089) (18,687) (18,380) Property and equipment, net 26,384 25,533 25,607 Operating lease assets 2.151 1,965 1,997 Other noncurrent assets 1,401 1,273 1,329 Total assets S 43,741 $ 41,290 S 43,572 Liabilities and shareholders' investment Accounts payable S 11,258 S 9,761 S 11,959 Accrued and other current liabilities 4,191 4.201 4,096 Current portion of long-term debt and other borrowings 1.159 1,052 1,535 Total current liabilities 16,608 15,014 17,590 Long-term debt and other borrowings 10,513 10,223 10,104 Noncurrent operating lease liabilities 2,208 2,004 2.046 Deferred income taxes 1.215 972 970 Other noncurrent liabilities 1,652 1,780 1,782 Total noncurrent liabilities 15,588 14,979 14,902 Shareholders' investment Common stock 42 43 Additional paid-in capital 6,006 6,042 5,867 Retained earings 6,270 6 ,017 5,884 Accumulated other comprehensive loss (773) (805) (714) Total shareholders investment 11,545 11,297 11,080 Total liabilities and shareholders' investment $ 43,741 $ 41,290 S 43,572 Common Stock Authorized 6,000,000,000 shares, S0.0833 par value; 506,677,740, 517,761,600 and 521,810,597 shares issued and outstanding at November 2, 2019, February 2, 2019, and November 3, 2018, respectively. Preferred Stock Authorized 5,000,000 shares, S0.01 par value; no shares were issued or outstanding during any period presented. INSTRUCTIONS 1. Using the data provided: -Target's 2019 3rd Quarter Earnings Report (the financial statements are on page 6 and 7) 2.) Prepare the following in excel: 7.) A comparison of 2019 and 2108 Net Earnings/A comparison of 2019 and 2018 Balance sheet (bar graph) 2.) Pie Chart - Revenues and Expenses 2019 and 2018 3.) Pie Chart - Total Assets and Total Liabilities 2019 ONLY 4.) Pie Chart - Property and Equipment line items for 2019 ONLY For number 1 name the tab At a glance" For number 2 name the tab Net Earnings Detail" For number 3 name the tab Balance Sheet Detail For number 4 name the tab PPE Detail Consolidated Statements of Operations Three Months Ended November 2, November 3, 2019 2018 $ 18,414 $ 17,590 251 231 18,665 17,821 12,935 12,535 4,153 3,937 Change 4.7% 8.8 4.7 3.2 5.5 Nine Months Ended November 2, November 3, 2018 $ 53,997 $ 51,699 716 680 54,713 52,379 37,808 36,400 11,728 11,347 Change 4.4 5.3 4.5 3.9 3.4 575 1,002 113 (12) 530 819 115 (9) 8.5 22.3 (1.6) 36.5 1,717 3,460 359 (38) 1.6394 .8 2,993 15.6 352 2.0 (21) 83.8 901 195 706 713 97 616 26.3 100.8 14.5 3,139 703 2,436 2,662 530 2,132 179 32.8 14.3 (millions, except per share data) (unaudited) Sales Other revenue Total revenue Cost of sales Selling, general and administrative expenses Depreciation and amortization (exclusive of depreciation included in cost of sales) Operating income Net interest expense Net other (income) /expense Earnings from continuing operations before income taxes Provision for income taxes Net earnings from continuing operations Discontinued operations, net of tax Net earnings Basic earnings per share Continuing operations Discontinued operations Net earnings per share Diluted earnings per share Continuing operations Discontinued operations Net earnings per share Weighted average common shares outstanding Basic Diluted Antidilutive shares S 714 $ 622 14.8 % S 2,447 $ 2,139 14.4 S S 18.2% $ 18.5 1.38 0.02 1.40 1.17 0.01 1.18 4.75 S 0.02 4.77 $ 4.01 0.01 4.02 $ $ 18.5% $ 18.6 S S 18.2% $ 18.5 1.37 0.02 1.39 1.16 0.01 1.17 4.71 $ 0.02 4.74 $ 3.98 0.01 3.99 $ $ 18.5% S 18.7 509. 7 514.8 5 25.9 531.2 (3.1)% (3.19% 512.5 516.8 531.5 536.2 (3.6) (3.6) 0.64 3.1 % 1.96 $ 1.90 3.2 Dividends declared per share S 0.66 S Note: Per share amounts may not foot due to rounding. TARGET CORPORATION Consolidated Statements of Financial Position November 2, February 2, November 3, (millions, except footnotes) (unaudited) 2019 2019 2018 Assets Cash and cash equivalents S 969 $ 1,556 S 825 Inventory 11,396 9,497 12,393 Other current assets 1,440 1,466 1,421 Total current assets 13,805 12,519 14,639 Property and equipment Land 6,040 6,064 6,069 Buildings and improvements 30,467 29,240 29,090 Fixtures and equipment 6,032 5,912 5,784 Computer hardware and software 2,636 2,544 2,660 Construction-in-progress 298 460 384 Accumulated depreciation (19.089) (18,687) (18,380) Property and equipment, net 26,384 25,533 25,607 Operating lease assets 2.151 1,965 1,997 Other noncurrent assets 1,401 1,273 1,329 Total assets S 43,741 $ 41,290 S 43,572 Liabilities and shareholders' investment Accounts payable S 11,258 S 9,761 S 11,959 Accrued and other current liabilities 4,191 4.201 4,096 Current portion of long-term debt and other borrowings 1.159 1,052 1,535 Total current liabilities 16,608 15,014 17,590 Long-term debt and other borrowings 10,513 10,223 10,104 Noncurrent operating lease liabilities 2,208 2,004 2.046 Deferred income taxes 1.215 972 970 Other noncurrent liabilities 1,652 1,780 1,782 Total noncurrent liabilities 15,588 14,979 14,902 Shareholders' investment Common stock 42 43 Additional paid-in capital 6,006 6,042 5,867 Retained earings 6,270 6 ,017 5,884 Accumulated other comprehensive loss (773) (805) (714) Total shareholders investment 11,545 11,297 11,080 Total liabilities and shareholders' investment $ 43,741 $ 41,290 S 43,572 Common Stock Authorized 6,000,000,000 shares, S0.0833 par value; 506,677,740, 517,761,600 and 521,810,597 shares issued and outstanding at November 2, 2019, February 2, 2019, and November 3, 2018, respectively. Preferred Stock Authorized 5,000,000 shares, S0.01 par value; no shares were issued or outstanding during any period presented. INSTRUCTIONS 1. Using the data provided: -Target's 2019 3rd Quarter Earnings Report (the financial statements are on page 6 and 7) 2.) Prepare the following in excel: 7.) A comparison of 2019 and 2108 Net Earnings/A comparison of 2019 and 2018 Balance sheet (bar graph) 2.) Pie Chart - Revenues and Expenses 2019 and 2018 3.) Pie Chart - Total Assets and Total Liabilities 2019 ONLY 4.) Pie Chart - Property and Equipment line items for 2019 ONLY For number 1 name the tab At a glance" For number 2 name the tab Net Earnings Detail" For number 3 name the tab Balance Sheet Detail For number 4 name the tab PPE Detail

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