annual, fiscal 2016 to present

To provide additional transparency, we have disclosed non-GAAP adjusted diluted earnings per share from continuing operations (Adjusted EPS). This metric excludes certain items presented below. We believe this information is useful in providing period-to-period comparisons of the results of our continuing operations. This measure is not in accordance with, or an alternative to, generally accepted accounting principles in the United States (GAAP). The most comparable measure is diluted earnings per share from continuing operations. Adjusted EPS should not be considered in isolation or as a substitution for analysis of our results as reported under GAAP. Other companies may calculate Adjusted EPS differently, limiting the usefulness of the measure for comparisons with other companies.

(unaudited)

2020

2019

2018

2017 (a)

2016

GAAP diluted earnings per share from continuing operations

$

8.64 $

6.34 $

5.50 $

5.29 $

4.58

Adjustments

Loss on debt extinguishment

$

0.75 $

0.01 $

- $

0.14 $

0.44

Loss on investment (b)

0.03

0.06

-

-

-

Tax Act (c)

-

-

(0.07)

(0.62)

-

Data breach-related costs, net of insurance (d)

-

(0.02)

-

(0.01)

-

Other (e)

0.04

-

-

-

-

Other income tax matters (f)

(0.04)

-

(0.03)

(0.10)

(0.01)

Adjusted diluted earnings per share from continuing operations

$

9.42 $

6.39 $

5.39 $

4.69 $

5.00

(a)

2017 consisted of 53 weeks compared with 52 weeks in the comparable periods presented.

(b)

Represents a loss on our investment in Casper Sleep Inc., which is not core to our continuing operations.

(c)

Represents discrete income tax items related to the Tax Cuts and Jobs Act (Tax Act) enacted in 2017.

(d)

Represents insurance recoveries related to the 2013 data breach.

(e)

For 2020, includes store damage and inventory losses related to civil unrest, net of insurance recoveries.

(f)

Represents benefits from the resolution of certain income tax matters unrelated to current period operations.

Source: Target's Consolidated Financial Statements as filed with the U.S. Securities and Exchange Commission.

Last Updated: 3/2/2021

quarterly, fiscal 2016 to present

2020

(unaudited)

Q4

Q3

Q2

Q1

2019

Q4

Q3

Q2

Q1

2018

Q4

Q3

Q2

Q1

GAAP diluted earnings per share from continuing operations

  • $ 2.73 $

    2.01 $

    3.35 $

    0.56

    • $ 1.63 $

      1.37 $

      1.82 $

      1.53

      • $ 1.52 $

      1.16 $

      1.49 $

      1.33

    • Adjustments

      (Gain) / loss on investment (b)

      Tax Act (c)

      Loss on debt extinguishment

      Data breach insurance recoveries (d)

      Other (e)

      Other income tax matters (f)

  • $ (0.01) $ - - -

    (0.01) (0.04)

0.02 $ - 0.75 - 0.01 -

(0.01) $ - - - 0.04 -

0.03 - - - - -

  • $ 0.06 $ - 0.02 (0.01)

    - -

  • - $ - - (0.01)

- -

  • - $ - - - - -

- - - - - -

$

- 0.01 - - - -

$

- $ (0.07)

- - - -

  • - $ - - - - (0.02)

- - - - - (0.01)

Adjusted diluted earnings per share from continuing operations

$

2.67 $

2.79 $

3.38 $

0.59

$

1.69 $

1.36 $

1.82 $

1.53

$

1.53 $

1.09 $

1.47 $

1.32

2017

(unaudited)

Q4 (a)

Q3

Q2

Q1

2016

Q4

Q3

Q2

Q1

GAAP diluted earnings per share from continuing operations

  • $ 1.99 $

    0.87 $

    1.21 $

    1.21

    • $ 1.46 $

    1.06 $

    1.06 $

    1.01

  • Adjustments Tax Act (e)

    Loss on debt extinguishment Pharmacy Transaction-related costs (g)

    Data breach insurance recoveries (d)

  • $ (0.63) $ - - (0.01)

- $ 0.14 - - (0.10)

  • - $ - - - 0.01

- - - - (0.01)

$

  • - $ - - - -

  • - $

- 0.17

$

-

-

  • $ 0.26

-

(0.01) 0.01

Other income tax matters (f)

-

Adjusted diluted earnings per share from continuing operations

$

1.36 $

0.90 $

1.22 $

1.20

$

1.45 $

- (0.01)

1.04 $

1.22 $

- -

- - 1.28

Note: Amounts may not foot due to rounding.

(a)

Fourth quarter 2017 consisted of 14 weeks compared with 13 weeks in the comparable periods presented.

(b)

Represents a (gain) / loss on our investment in Casper Sleep Inc., which is not core to our continuing operations.

(c)

Represents discrete income tax items related to the Tax Cuts and Jobs Act (Tax Act) enacted in 2017.

(d)

Represents insurance recoveries related to the 2013 data breach.

(e)

Represents store damage and inventory losses related to civil unrest, net of insurance recoveries.

(f)

Represents (benefits) / expenses from the resolution of certain income tax matters unrelated to current period operations.

(g)

Represents items related to the 2015 sale of our pharmacy and clinic businesses (Pharmacy Transaction).

Source: Target's Consolidated Financial Statements as filed with the U.S. Securities and Exchange Commission.

Last Updated:

3/2/2021

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Target Corporation published this content on 02 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 March 2021 12:47:07 UTC.