Question

Target Corporation prepares its financial statements according to U.S. GAAP. Target’s financial statements and disclosure notes for the year ended February 1, 2020, are available here. This material is also available under the Investor Relations link at the company’s website (www.target.com).

Required:

1-a. What amount ($ in millions) does Target report for net property and equipment for the year ended February 1, 2020?

Answer 1

Target Corporation's net property and equipment for the year ended February 1, 2020, can be found in its Form 10-K available under the Investor Relations section of their website. This figure is reported after depreciation and impairment losses, but the exact amount cannot be provided without accessing Target's financial documents.

Step-by-step explanation:

The student has asked about the amount reported by Target Corporation for net property and equipment for the year ended February 1, 2020. According to U.S. GAAP, which Target adheres to for its financial statements, the net property and equipment are reported after accounting for depreciation and any impairment losses. This value represents the net amount that the company expects to utilize over the useful lives of its property and equipment assets.

To find the specific figure, one would typically review Target's Form 10-K for the year ended February 1, 2020, which includes the balance sheet and notes to financial statements. This financial document is available on Target's official website under the Investor Relations section. However, as I do not have access to the document at this moment, I am unable to provide the exact figure. I encourage the student to access Target's Form 10-K or annual report where the necessary financial information, including the amount of net property and equipment, will be clearly stated.