3. Cost of Sales and Selling, General and Administrative Expenses for Target (TGT)

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TGT » Topics » 3. Cost of Sales and Selling, General and Administrative Expenses

This excerpt taken from the TGT 10-K filed Mar 18, 2010.

3. Cost of Sales and Selling, General and Administrative Expenses

The following table illustrates the primary costs classified in each major expense category:



Cost of Sales		Selling, General and Administrative Expenses

Total cost of products sold including		Compensation and benefit costs including
•	Freight expenses associated with moving	•	Stores
	merchandise from our vendors to our	•	Headquarters
	distribution centers and our retail stores, and	Occupancy and operating costs of retail and
	among our distribution and retail facilities		headquarters facilities
•	Vendor income that is not reimbursement of	Advertising, offset by vendor income that is a
	specific, incremental and identifiable costs		reimbursement of specific, incremental and
Inventory shrink			identifiable costs
Markdowns		Preopening costs of stores and other facilities
Outbound shipping and handling expenses		Other administrative costs
	associated with sales to our guests
Terms cash discount
Distribution center costs, including compensation
	and benefits costs

The classification of these expenses varies across the retail industry.

This excerpt taken from the TGT 10-K filed Mar 12, 2010.

3. Cost of Sales and Selling, General and Administrative Expenses

The following table illustrates the primary costs classified in each major expense category:



Cost of Sales		Selling, General and Administrative Expenses

Total cost of products sold including		Compensation and benefit costs including
•	Freight expenses associated with moving	•	Stores
	merchandise from our vendors to our	•	Headquarters
	distribution centers and our retail stores, and	Occupancy and operating costs of retail and
	among our distribution and retail facilities		headquarters facilities
•	Vendor income that is not reimbursement of	Advertising, offset by vendor income that is a
	specific, incremental and identifiable costs		reimbursement of specific, incremental and
Inventory shrink			identifiable costs
Markdowns		Preopening costs of stores and other facilities
Outbound shipping and handling expenses		Other administrative costs
	associated with sales to our guests
Terms cash discount
Distribution center costs, including compensation
	and benefits costs

The classification of these expenses varies across the retail industry.

These excerpts taken from the TGT 10-K filed Mar 13, 2009.

3. Cost of Sales and Selling, General and Administrative Expenses

During the first quarter of 2008, we reviewed our Consolidated Statements of Operations cost classification policy, primarily related to distribution and other supply chain costs that were previously classified within selling, general and administrative expenses (SG&A). The review was prompted by changes within our supply chain processes and infrastructure, primarily the opening of our own food distribution network. As a result of this review, we have reclassified certain costs within our Consolidated Statements of Operations. The most significant change is that distribution center costs are now presented within cost of sales, as opposed to SG&A. We have reclassified all prior periods to conform to the current year presentation.

The following table illustrates the primary costs classified in each major expense category:



Cost of Sales		Selling, General and Administrative Expenses

Total cost of products sold including • Freight expenses associated with moving merchandise from our vendors to our distribution centers and our retail stores, and among our distribution and retail facilities • Vendor income that is not reimbursement of specific, incremental and identifiable costs Inventory shrink Markdowns Outbound shipping and handling expenses associated with sales to our guests Terms cash discount Distribution center costs, including compensation and benefits costs		Compensation and benefit costs including • Stores • Headquarters Occupancy and operating costs of retail and headquarters facilities Advertising, offset by vendor income that is a reimbursement of specific, incremental and identifiable costs Pre-opening costs of stores and other facilities Other administrative costs

The classification of these expenses varies across the retail industry.

3. Cost of Sales and Selling, General and Administrative Expenses

During the first quarter of 2008, we reviewed our Consolidated Statements of Operations cost classification policy, primarily related
to distribution and other supply chain costs that were previously classified within selling, general and administrative expenses (SG&A). The review was prompted by changes within our supply chain
processes and infrastructure, primarily the opening of our own food distribution network. As a result of this review, we have reclassified certain costs within our Consolidated Statements of
Operations. The most significant change is that distribution center costs are now presented within cost of sales, as opposed to SG&A. We have reclassified all prior periods to conform to the current
year presentation.

The
following table illustrates the primary costs classified in each major expense category:



Cost of Sales		Selling, General and Administrative Expenses

Total cost of products sold including • Freight expenses associated with moving merchandise from our vendors to our distribution centers and our retail stores, and among our distribution and retail facilities • Vendor income that is not reimbursement of specific, incremental and identifiable costs Inventory shrink Markdowns Outbound shipping and handling expenses associated with sales to our guests Terms cash discount Distribution center costs, including compensation and benefits costs		Compensation and benefit costs including • Stores • Headquarters Occupancy and operating costs of retail and headquarters facilities Advertising, offset by vendor income that is a reimbursement of specific, incremental and identifiable costs Pre-opening costs of stores and other facilities Other administrative costs

The classification of these expenses varies across the retail industry.

This excerpt taken from the TGT 10-Q filed Dec 5, 2008.

3. Cost of Sales and Selling, General and Administrative Expenses

During the first quarter of 2008, we reviewed our Consolidated Statements of Operations cost classification policy, primarily related to distribution and other supply chain costs that were previously classified within Selling, General & Administrative Expenses (SG&A). The review was prompted by changes within our supply chain processes and infrastructure, primarily the opening of our own food distribution network. As a result of this review, we have reclassified certain costs within our Consolidated Statements of Operations. The most significant change is that distribution center costs are now presented within cost of sales, as opposed to SG&A. We have reclassified all prior periods to conform to the current year presentation.

The following table illustrates the primary costs classified in each major expense category:

Cost of Sales

Selling, General and Administrative Expenses

Total cost of products sold including:

· Freight expenses associated with moving merchandise from our vendors to our distribution centers and our retail stores, and among our distribution and retail facilities

· Vendor income that is not reimbursement of specific, incremental and identifiable costs

Inventory shrink

Markdowns

Outbound shipping and handling expenses associated with sales to our guests

Terms cash discount

Distribution center costs, including compensation and benefits costs

Compensation and benefit costs including:

· Stores

· Headquarters

Occupancy and operating costs of retail and headquarters facilities

Advertising, offset by vendor income that is a reimbursement of specific, incremental and identifiable costs

Pre-opening costs of stores and other facilities

Other administrative costs

The classification of these expenses varies across the retail industry.

This excerpt taken from the TGT 10-Q filed Aug 29, 2008.

3. Cost of Sales and Selling, General and Administrative Expenses

During the first quarter of 2008, we reviewed our Consolidated Statements of Operations cost classification policy, primarily related to distribution and other supply chain costs that were previously classified within Selling, General & Administrative Expenses (SG&A). The review was prompted by changes within our supply chain processes and infrastructure, primarily the opening of our own food distribution network. As a result of this review, we have reclassified certain costs within our Consolidated Statements of Operations. The most significant change is that distribution center costs are now presented within cost of sales, as opposed to SG&A. We have reclassified all prior periods to conform to the current year presentation.

The following table illustrates the primary costs classified in each major expense category:

Cost of Sales

Selling, General and Administrative Expenses

Total cost of products sold including:

· Freight expenses associated with moving merchandise from our vendors to our distribution centers and our retail stores, and among our distribution and retail facilities

· Vendor income that is not reimbursement of specific, incremental and identifiable costs

Inventory shrink

Markdowns

Shipping and handling expenses

Terms cash discount

Distribution center costs, including compensation and benefits costs

Compensation and benefit costs including:

· Stores

· Headquarters

Occupancy and operating costs of retail and headquarters facilities

Advertising, offset by vendor income that is a reimbursement of specific, incremental and identifiable costs

Pre-opening costs of stores and other facilities

Other administrative costs

The classification of these expenses varies across the retail industry.

These excerpts taken from the TGT 10-K filed Mar 13, 2008.

3. Cost of Sales and Selling, General and Administrative Expenses

The following table illustrates the primary costs classified in each major expense category:


Cost of Sales		Selling, General and Administrative Expenses

Total cost of products sold including • Freight expenses associated with moving merchandise from our vendors to our distribution centers and our retail stores, and among our distribution and retail facilities • Vendor income that is not reimbursement of specific, incremental and identifiable costs Inventory shrink Markdowns Shipping and handling expenses Terms cash discount		Compensation and benefit costs including • Stores • Headquarters, including buying and merchandising • Distribution operations Occupancy and operating costs of retail, distribution and headquarters facilities Advertising, offset by vendor income that is a reimbursement of specific, incremental and identifiable costs Pre-opening costs of stores and other facilities Other administrative costs

The classification of these expenses varies across the retail industry.

3. Cost of Sales and Selling, General and Administrative Expenses

The following table illustrates the primary costs classified in each major expense category:


Cost of Sales		Selling, General and Administrative Expenses

Total cost of products sold including • Freight expenses associated with moving merchandise from our vendors to our distribution centers and our retail stores, and among our distribution and retail facilities • Vendor income that is not reimbursement of specific, incremental and identifiable costs Inventory shrink Markdowns Shipping and handling expenses Terms cash discount		Compensation and benefit costs including • Stores • Headquarters, including buying and merchandising • Distribution operations Occupancy and operating costs of retail, distribution and headquarters facilities Advertising, offset by vendor income that is a reimbursement of specific, incremental and identifiable costs Pre-opening costs of stores and other facilities Other administrative costs

The classification of these expenses varies across the retail industry.

This excerpt taken from the TGT 10-Q filed Nov 30, 2007.

3. Cost of Sales and Selling, General and Administrative Expenses

The following table illustrates the primary costs classified in each major expense category:

Cost of Sales

Selling, General and Administrative Expenses

Total cost of products sold including:

• Freight expenses associated with moving merchandise from our vendors to our distribution centers and our retail stores, and among our distribution and retail facilities

• Vendor income that is not reimbursement of specific, incremental and identifiable costs

Inventory shrink

Markdowns

Shipping and handling expenses

Terms cash discount

Compensation and benefit costs including:

• Stores

• Headquarters, including buying and merchandising

• Distribution operations

Occupancy and operating costs of retail, distribution and headquarters facilities

Advertising, offset by vendor income that is a reimbursement of specific, incremental and identifiable costs

Pre-opening costs of stores and other facilities

Other administrative costs

The classification of these expenses varies across the retail industry.

Compensation, benefits and other expenses for buying, merchandising and distribution operations classified in selling, general and administrative expenses were approximately $335 million and $315 million for the three months ended November 3, 2007 and October 28, 2006, respectively, and approximately $976 million and $917 million for the nine months ended November 3, 2007 and October 28, 2006, respectively.

This excerpt taken from the TGT 10-Q filed Aug 31, 2007.

3. Cost of Sales and Selling, General and Administrative Expenses

The following table illustrates the primary costs classified in each major expense category:

Cost of Sales

Selling, General and Administrative Expenses

Total cost of products sold including:

• Freight expenses associated with moving merchandise from our vendors to our distribution centers and our retail stores, and among our distribution and retail facilities

• Vendor income that is not reimbursement of specific, incremental and identifiable costs

Inventory shrink

Markdowns

Shipping and handling expenses

Terms cash discount

Compensation and benefit costs including:

• Stores

• Headquarters, including buying and merchandising

• Distribution operations

Occupancy and operating costs of retail, distribution and

headquarters facilities

Advertising, offset by vendor income that is a reimbursement

of specific, incremental and identifiable costs

Pre-opening costs of stores and other facilities

Other administrative costs

The classification of these expenses varies across the retail industry.

Compensation, benefits and other expenses for buying, merchandising and distribution operations classified in selling, general and administrative expenses were approximately $338 million and $307 million for the three months ended August 4, 2007 and July 29, 2006, respectively, and approximately $641 million and $602 million for the six months ended August 4, 2007 and July 29, 2006, respectively.

This excerpt taken from the TGT 10-Q filed Jun 1, 2007.

3. Cost of Sales and Selling, General and Administrative Expenses

The following table illustrates the primary costs classified in each major expense category:

Cost of Sales

Selling, General and Administrative Expenses (SG&A)

Total cost of products sold including:

• Freight expenses associated with moving
merchandise from our vendors to our
distribution centers and our retail stores,
and among our distribution and retail
facilities

• Vendor income that is not reimbursement
of specific, incremental and identifiable
costs

Inventory shrink

Markdowns

Shipping and handling expenses

Terms cash discount

Compensation and benefit costs including:

• Stores

• Headquarters, including buying and
merchandising

• Distribution operations

Occupancy and operating costs of retail, distribution and
headquarters facilities

Advertising, offset by vendor income that is a

reimbursement of specific, incremental and

identifiable costs

Pre-opening costs of stores and other facilities

Other administrative costs

The classification of these expenses varies across the retail industry.

This excerpt taken from the TGT 10-K filed Mar 15, 2007.

3. Cost of Sales and Selling, General and Administrative Expenses

The following illustrates the primary costs classified in each major expense category:

Cost of Sales		Selling, General and Administrative Expenses


Total cost of products sold including: • Freight expenses associated with moving merchandise from our vendors to our distribution centers and our retail stores, and among our distribution and retail facilities • Vendor income that is not reimbursement of specific, incremental and identifiable costs Inventory shrink Markdowns Shipping and handling expenses Terms cash discount		Compensation and benefit costs including: • Stores • Headquarters, including buying and merchandising • Distribution operations Occupancy and operating costs of retail, distribution and headquarters facilities Advertising, offset by vendor income that is a reimbursement of specific, incremental and identifiable costs Pre-opening costs of stores and other facilities Other administrative costs

The classification of these expenses varies across the retail industry.

Target (TGT)

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