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.

 

5



 

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.

 

5



 

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.

        Compensation, benefits and other expenses for buying, merchandising and distribution operations classified in selling, general and administrative expenses were approximately $1,321 million, $1,274 million and $1,133 million for 2007, 2006 and 2005, respectively.

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 $1,321 million, $1,274 million and $1,133 million for 2007, 2006 and 2005, respectively.



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.

 

Compensation, benefits and other expenses for buying, merchandising and distribution operations classified in selling, general and administrative expenses were approximately $304 million and $294 million for the quarters ended May 5, 2007 and April 29, 2006, respectively.

 

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.

        Compensation, benefits and other expenses for buying, merchandising and distribution operations classified in selling, general and administrative expenses were approximately $1,274 million, $1,133 million and $980 million for 2006, 2005 and 2004, respectively.

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