Internet Case 12.7 Analyzing Stockholders' Equity and EPS (MUST POST FIRST) Initial Post - As an employee, write an internal memo to your manager addressing the following: Using the Internet, locate the most recent annual report of a company of your choosing and write an initial post by responding to the following: Do not research the company listed in the text. For the most recent day indicated, what were the highest and lowest prices at which the company's common stock sold? Find the company's balance sheet and determine the following the number of outstanding shares of common stock and the average price at which those shares were originally sold. What is the relationship between the current market price and the amount you have calculated in part b as the average price at which the stock originally sold? Find the company's income statement and identify the trend in basic earnings per share, including discontinued operations. Did discontinued operations have a significant impact on EPS? For the most recent year, what is the average number of shares of common stock that was used to compute basic earnings per share? Why is that number different from the number outstanding in the company's balance sheet? (MUST POST FIRST) Initial Post - As an employee, write an internal memo to your manager addressing the following: Using the Internet, locate the most recent annual report of a company of your choosing and write an initial post by responding to the following: Do not research the company listed in the text . For the most recent day indicated, what were the highest and lowest prices at which the company's common stock sold? Find the company's balance sheet and determine the following the number of outstanding shares of common stock and the average price at which those shares were originally sold. What is the relationship between the current market price and the amount you have calculated in part b as the average price at which the stock originally sold? Find the company's income statement and identify the trend in basic earnings per share, including discontinued operations. Did discontinued operations have a significant impact on EPS? For the most recent year, what is the average number of shares of common stock that was used to compute basic earnings per share? Why is that number different from the number outstanding in the company's balance sheet? Target 2018 Annual Report Financial Summary 2016 adjusted 2015 2017 asad usted 2018 2014 $ 74,433 $ 71,786 $ $ 72,618 923 928 75,356 53.299 15,723 72,714 51,125 15.140 $ 69,414 857 70.271 49,145 14.217 73.717 777 74,494 52.241 15,406 72,618 51,506 14,678 2.045 FINANCIAL RESULTS In millions Sales Other revenue Tot revenue Cost of sales Seling, general and administrative expenses (SG&A) Depreciation and amortization exclusive of depreciation included in cost of sales Operating income Not interest expenses Not other income pense Earnings from continuing operations before income taxes Provision for Income taxes Net earnings from continuing operations Discontinued operations, net of tax Net earnings / loss) 2.224 4,110 461 127 3.676 746 2.930 2.225 4.224 653 1591 3.630 901 (88) 3.961 1.295 2.666 68 2,734 1.969 1.901 4878 4.535 607 882 1652) 4.923 3.653 1.602 1.204 3321 2.449 424 ,085) 3.363 $ (1.636) 2.908 $ 2,937 $ 2,914 $ $ $ $ $ $ 5.54 0.01 5,55 5.32 0.01 5.32 4,61 0.12 4.73 5.29 0.07 5.35 3.86 16.44) 2.58) $ $ $ $ $ $ $ $ 5 $ 5.50 0.01 5.51 254 5.20 0.01 5.29 2.46 4. 58 0.12 4.69 2.36 .25 0.07 5.31 2.20 3.83 6.39) 2.56) 1.99 $ $ $ $ $ $ $ $ $ $ $ $ PER SHARE Basic earnings / Gloss) per share Continuing operations Discontinued operations Noteamings/os por share Diluted earnings / loss) per share Continuing operations Discontinued operations Not eamings/Boss) per share Cash dividends declared FINANCIAL POSITION In millions) Total assets Capital expenditures Long-term debt, including current portion Not debt Shareholders investment FINANCIAL RATIOS Comparable sales growth Gross margin of sales SGSA (% of total revenue Operating income margin % of total revenue OTHER Common shares outstanding in milions) Operating cash flow provided by continuing operations in milions) Revenue per square foot Retail square feet in thousands) Square footage growth Total number of stores Total number of distribution centers $ 41,290 $ 3,516 $ 11,275 $ 10,500 $ 11,297 40,303 2,533 11.30 10.267 11,051 $ 38,724 $ 1,547 12.591 $ 11,481 $ 10,915 $ 40,202 $ 1,438 $ 12,700 $ 9,752 $ 12,957 $ $ $ $ 41.172 1786 12.725 11,205 13,907 $ $ 5.0% 28.4% 20.9% 5.5% 1.3% 28.8% 20.8% 5.8% 0.5% 29.2 20.2% 6.9% 2.1% 29.1% 20.7% 6.5% 1.3% 20.1% 20.0% 6.2% $ $ $ $ 517.8 5,970 314 239,581 0.1% 1,844 $ $ 541.7 6,861 298 239,355 10.1% 1,822 5562 5,337 293 239,502 6022 5,254 310 239,539 10.23% 1,792 6402 $ 5,157 $ 302 239,963 1.790 1.802 40 40 Internet Case 12.7 Analyzing Stockholders' Equity and EPS (MUST POST FIRST) Initial Post - As an employee, write an internal memo to your manager addressing the following: Using the Internet, locate the most recent annual report of a company of your choosing and write an initial post by responding to the following: Do not research the company listed in the text. For the most recent day indicated, what were the highest and lowest prices at which the company's common stock sold? Find the company's balance sheet and determine the following the number of outstanding shares of common stock and the average price at which those shares were originally sold. What is the relationship between the current market price and the amount you have calculated in part b as the average price at which the stock originally sold? Find the company's income statement and identify the trend in basic earnings per share, including discontinued operations. Did discontinued operations have a significant impact on EPS? For the most recent year, what is the average number of shares of common stock that was used to compute basic earnings per share? Why is that number different from the number outstanding in the company's balance sheet? (MUST POST FIRST) Initial Post - As an employee, write an internal memo to your manager addressing the following: Using the Internet, locate the most recent annual report of a company of your choosing and write an initial post by responding to the following: Do not research the company listed in the text . For the most recent day indicated, what were the highest and lowest prices at which the company's common stock sold? Find the company's balance sheet and determine the following the number of outstanding shares of common stock and the average price at which those shares were originally sold. What is the relationship between the current market price and the amount you have calculated in part b as the average price at which the stock originally sold? Find the company's income statement and identify the trend in basic earnings per share, including discontinued operations. Did discontinued operations have a significant impact on EPS? For the most recent year, what is the average number of shares of common stock that was used to compute basic earnings per share? Why is that number different from the number outstanding in the company's balance sheet? Target 2018 Annual Report Financial Summary 2016 adjusted 2015 2017 asad usted 2018 2014 $ 74,433 $ 71,786 $ $ 72,618 923 928 75,356 53.299 15,723 72,714 51,125 15.140 $ 69,414 857 70.271 49,145 14.217 73.717 777 74,494 52.241 15,406 72,618 51,506 14,678 2.045 FINANCIAL RESULTS In millions Sales Other revenue Tot revenue Cost of sales Seling, general and administrative expenses (SG&A) Depreciation and amortization exclusive of depreciation included in cost of sales Operating income Not interest expenses Not other income pense Earnings from continuing operations before income taxes Provision for Income taxes Net earnings from continuing operations Discontinued operations, net of tax Net earnings / loss) 2.224 4,110 461 127 3.676 746 2.930 2.225 4.224 653 1591 3.630 901 (88) 3.961 1.295 2.666 68 2,734 1.969 1.901 4878 4.535 607 882 1652) 4.923 3.653 1.602 1.204 3321 2.449 424 ,085) 3.363 $ (1.636) 2.908 $ 2,937 $ 2,914 $ $ $ $ $ $ 5.54 0.01 5,55 5.32 0.01 5.32 4,61 0.12 4.73 5.29 0.07 5.35 3.86 16.44) 2.58) $ $ $ $ $ $ $ $ 5 $ 5.50 0.01 5.51 254 5.20 0.01 5.29 2.46 4. 58 0.12 4.69 2.36 .25 0.07 5.31 2.20 3.83 6.39) 2.56) 1.99 $ $ $ $ $ $ $ $ $ $ $ $ PER SHARE Basic earnings / Gloss) per share Continuing operations Discontinued operations Noteamings/os por share Diluted earnings / loss) per share Continuing operations Discontinued operations Not eamings/Boss) per share Cash dividends declared FINANCIAL POSITION In millions) Total assets Capital expenditures Long-term debt, including current portion Not debt Shareholders investment FINANCIAL RATIOS Comparable sales growth Gross margin of sales SGSA (% of total revenue Operating income margin % of total revenue OTHER Common shares outstanding in milions) Operating cash flow provided by continuing operations in milions) Revenue per square foot Retail square feet in thousands) Square footage growth Total number of stores Total number of distribution centers $ 41,290 $ 3,516 $ 11,275 $ 10,500 $ 11,297 40,303 2,533 11.30 10.267 11,051 $ 38,724 $ 1,547 12.591 $ 11,481 $ 10,915 $ 40,202 $ 1,438 $ 12,700 $ 9,752 $ 12,957 $ $ $ $ 41.172 1786 12.725 11,205 13,907 $ $ 5.0% 28.4% 20.9% 5.5% 1.3% 28.8% 20.8% 5.8% 0.5% 29.2 20.2% 6.9% 2.1% 29.1% 20.7% 6.5% 1.3% 20.1% 20.0% 6.2% $ $ $ $ 517.8 5,970 314 239,581 0.1% 1,844 $ $ 541.7 6,861 298 239,355 10.1% 1,822 5562 5,337 293 239,502 6022 5,254 310 239,539 10.23% 1,792 6402 $ 5,157 $ 302 239,963 1.790 1.802 40 40