Target Corporation(NYSE:TGT) 
Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home dcor products, electronics, toys, seasonal offerings, food, and other merchandise; and beau...
Website: http://investors.target.com
Founded: 1902
Full Time Employees: 400,000 (Jun 2022)
CEO: Brian Cornell
Sector: Consumer Defensive
Industry: Discount Stores
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At a glance:
- Resilient Cash Generation and Capital Returns: Target has historically generated solid operating cash flow and returns a meaningful portion to shareholders through dividends and share repurchases, while balancing reinvestment needs.
- Sales and Margin Sensitivity to Mix and Inventory Execution: Near-term performance can swing with discretionary demand, promotions, and product mix; strong inventory discipline and shrink management are key drivers of gross margin volatility.
- Omnichannel Scale Remains a Competitive Advantage: Same-day services (Drive Up, Order Pickup, Shipt) and store-based fulfillment support convenience and leverage the store footprint, but carry ongoing labor and fulfillment cost considerations.
- Category Exposure Skews Toward Consumer Discretionary Cyclicality: Compared with grocery-heavy peers, Target has higher exposure to discretionary categories (apparel, home), which can pressure comps in weaker consumer environments but benefit in rebounds.
- Cost Pressures and Store Operations Are Ongoing Focus Areas: Wage inflation, theft/shrink, and supply chain costs remain persistent headwinds; management initiatives to improve efficiency and reduce shrink can materially influence profitability.
Bull Thesis:
- Robust Omnichannel Strategy & Customer Convenience: Target's integrated digital and physical shopping experience, including popular services like Drive Up, Order Pickup, and Shipt delivery, continues to drive customer engagement, loyalty, and sales growth by offering unparalleled convenience.
- Strength of Owned Brands & Margin Expansion: Target's highly successful portfolio of owned brands (e.g., Good & Gather, Cat & Jack, Threshold) differentiates its offerings, fosters customer loyalty, and contributes significantly to higher gross margins compared to national brands.
- Ongoing Store Remodels & Enhanced Shopping Experience: Continued investment in modernizing its physical stores creates a more appealing and efficient shopping environment, attracting higher foot traffic and encouraging increased basket sizes, thereby boosting in-store sales.
- Improved Inventory Management & Supply Chain Efficiency: After past challenges, Target has demonstrated significant progress in optimizing its inventory levels and supply chain, leading to fewer markdowns, reduced carrying costs, and improved overall profitability.
Bear Thesis:
- Macroeconomic Headwinds & Discretionary Spending Pressure: High inflation and economic uncertainty are causing consumers to pull back on discretionary purchases (apparel, home goods), which represent a significant portion of Target's higher-margin sales, potentially impacting revenue and profitability.
- Persistent Shrink & Retail Theft Issues: Elevated levels of retail theft and organized retail crime continue to be a significant headwind, leading to increased operational costs (security, insurance) and directly impacting the company's bottom line.
- Intense Competition & Pricing Pressure: Target faces fierce competition from various retailers, including Walmart (price), Amazon (convenience/selection), and specialty stores, which can lead to pricing pressures and make market share gains challenging.
- Rising Labor Costs & Wage Inflation: Ongoing wage inflation and a competitive labor market are increasing Target's operating expenses, particularly for store and distribution center staff, which could compress profit margins if not offset by productivity gains or price increases.
Main Competitors:
- Amazon.com, Inc. ($AMZN) (E-commerce, Cloud Services (AWS), Groceries (Whole Foods, Fresh)), Amazon competes with Target across nearly all non-grocery product categories through its dominant e-commerce platform. It offers vast selection, competitive pricing, and rapid delivery, directly challenging Target's online sales and its 'Drive Up' and 'Order Pickup' services. Amazon also competes in groceries through Whole Foods Market and Amazon Fresh.
- The Kroger Co. ($KR) (Groceries, Pharmacy, Fuel), Kroger, and other major regional/national grocery chains, compete directly with Target's growing and increasingly important grocery business. They offer a wider selection of fresh produce, meats, and pantry staples, often at competitive prices, and focus on the frequent, essential shopping trips that Target also aims to capture with its food and beverage offerings.
- Costco Wholesale Corporation ($COST) (Bulk Groceries, General Merchandise, Fuel, Pharmacy (Membership-based)), Costco competes with Target by offering bulk quantities of groceries and general merchandise, including electronics, home goods, and apparel, at competitive prices to its members. While operating on a different membership-based model, it attracts value-conscious consumers who might otherwise shop at Target for larger household purchases and specific high-value items.
Moat:
Target Corporation operates in a highly competitive retail landscape, facing pressure from various angles. Its primary moat lies in its strong brand identity, known for its 'cheap chic' aesthetic, curated product assortment, and a superior omnichannel experience (e.g., Drive Up, Order Pickup). Target differentiates itself by offering a more elevated shopping experience and design-forward private label brands compared to mass discounters, while still providing value. Competition is fierce, with Walmart challenging on price and grocery market share, Amazon dominating e-commerce and delivery speed, and specialized retailers (like Kroger for groceries or TJX for apparel/home goods) competing in specific categories. Target's ability to blend convenience, style, and value across its diverse product offerings is key to maintaining its market position and customer loyalty.
Income Statements:
Quarterly
Annual
| Unit: USD | 2025-11-01 | 2025-08-02 | 2025-05-03 | 2025-02-01 | 2024-11-02 | 2024-08-03 | 2024-05-04 | 2024-02-03 | 2023-10-28 | 2023-07-29 | 2023-04-29 | 2023-01-28 | 2022-10-29 | 2022-07-30 | 2022-04-30 | 2022-01-29 | 2021-10-30 | 2021-07-31 | 2021-05-01 | 2021-01-30 | 2020-10-31 | 2020-08-01 | 2020-05-02 | 2020-02-01 | 2019-11-02 | 2019-08-03 | 2019-05-04 | 2019-02-02 | 2018-11-03 | 2018-08-04 | 2018-05-05 | 2018-02-03 | 2017-10-28 | 2017-07-29 | 2017-04-29 | 2017-01-28 | 2016-10-29 | 2016-07-30 | 2016-04-30 | 2016-01-30 | 2015-10-31 | 2015-08-01 | 2015-05-02 | 2015-01-31 | 2014-11-01 | 2014-08-02 | 2014-05-03 | 2014-02-01 | 2013-11-02 | 2013-08-03 | 2013-05-04 | 2012-10-27 | 2012-07-28 | 2012-04-28 | 2011-10-29 | 2011-07-30 | 2011-04-30 | 2010-10-30 | 2010-07-31 | 2010-05-01 | 2009-10-31 | 2009-08-01 | 2009-05-02 | 2008-11-01 | 2008-08-02 | 2008-05-03 | 2007-11-03 | 2007-08-04 | 2007-05-05 | 2006-10-28 | 2006-07-29 | 2006-04-29 | 2005-10-29 | 2005-07-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
sales | 25,270,000,000 | 25,211,000,000 | 23,846,000,000 | 32,174,000,000 | 25,228,000,000 | 25,021,000,000 | 24,143,000,000 | 31,467,000,000 | 25,004,000,000 | 24,384,000,000 | 24,948,000,000 | 30,983,000,000 | 26,122,000,000 | 25,653,000,000 | 24,830,000,000 | 30,616,000,000 | 25,290,000,000 | 24,826,000,000 | 23,879,000,000 | 27,997,000,000 | 22,336,000,000 | 22,696,000,000 | 19,371,000,000 | 23,133,000,000 | 18,414,000,000 | 18,183,000,000 | 17,401,000,000 | 22,734,000,000 | 17,590,000,000 | 17,552,000,000 | 16,556,000,000 | 22,766,000,000 | 16,667,000,000 | 16,429,000,000 | 16,017,000,000 | 20,690,000,000 | 16,441,000,000 | 16,169,000,000 | 16,196,000,000 | 21,626,000,000 | 17,613,000,000 | 17,427,000,000 | 17,119,000,000 | 20,430,000,000 | 17,732,000,000 | 17,406,000,000 | 17,050,000,000 | 21,515,000,000 | 17,258,000,000 | 17,117,000,000 | 16,706,000,000 | 16,601,000,000 | 16,451,000,000 | 16,537,000,000 | 16,054,000,000 | 15,895,000,000 | 15,580,000,000 | 15,226,000,000 | 15,126,000,000 | 15,158,000,000 | 14,789,000,000 | 14,567,000,000 | 14,361,000,000 | 14,588,000,000 | 14,971,000,000 | 14,302,000,000 | 14,342,000,000 | 14,167,000,000 | 13,623,000,000 | 13,156,000,000 | 12,959,000,000 | 12,493,000,000 | 11,863,000,000 | 11,667,000,000 |
yoy | 0.17% | 0.76% | -1.23% | 2.25% | 0.90% | 2.61% | -3.23% | 1.56% | -4.28% | -4.95% | 0.48% | 1.20% | 3.29% | 3.33% | 3.98% | 9.35% | 13.23% | 9.38% | 23.27% | 21.03% | 21.30% | 24.82% | 11.32% | 1.76% | 4.68% | 3.60% | 5.10% | -0.14% | 5.54% | 6.84% | 3.37% | 10.03% | 1.37% | 1.61% | -1.11% | -4.33% | -6.65% | -7.22% | -5.39% | 5.85% | -0.67% | 0.12% | 0.40% | -5.04% | 2.75% | 1.69% | 2.06% | 29.60% | 4.91% | 3.51% | 4.06% | 4.44% | 5.59% | 8.61% | 6.14% | 4.86% | 5.35% | 4.52% | 5.33% | 3.91% | -1.22% | 1.85% | 0.13% | 2.97% | 9.90% | 8.71% | 10.67% | 13.40% | 14.84% | 12.76% | ||||
qoq | 0.23% | 5.72% | -25.88% | 27.53% | 0.83% | 3.64% | -23.28% | 25.85% | 2.54% | -2.26% | -19.48% | 18.61% | 1.83% | 3.31% | -18.90% | 21.06% | 1.87% | 3.97% | -14.71% | 25.34% | -1.59% | 17.16% | -16.26% | 25.63% | 1.27% | 4.49% | -23.46% | 29.24% | 0.22% | 6.02% | -27.28% | 36.59% | 1.45% | 2.57% | -22.59% | 25.84% | 1.68% | -0.17% | -25.11% | 22.78% | 1.07% | 1.80% | -16.21% | 15.22% | 1.87% | 2.09% | -20.75% | 24.67% | 0.82% | 2.46% | 0.63% | 0.91% | -0.52% | 3.01% | 1.00% | 2.02% | 2.32% | 0.66% | -0.21% | 2.50% | 1.52% | 1.43% | -1.56% | -2.56% | 4.68% | -0.28% | 1.24% | 3.99% | 3.55% | 1.52% | 3.73% | 5.31% | 1.68% | |
cost of sales | 18,137,000,000 | 17,903,000,000 | 17,128,000,000 | 22,879,000,000 | 18,375,000,000 | 17,799,000,000 | 17,449,000,000 | 23,403,000,000 | 18,149,000,000 | 17,798,000,000 | 18,386,000,000 | 23,946,000,000 | 19,680,000,000 | 20,142,000,000 | 18,461,000,000 | 22,761,000,000 | 18,206,000,000 | 17,280,000,000 | 16,716,000,000 | 20,485,000,000 | 15,509,000,000 | 15,673,000,000 | 14,510,000,000 | 17,056,000,000 | 12,935,000,000 | 12,625,000,000 | 12,248,000,000 | 16,899,000,000 | 12,535,000,000 | 12,239,000,000 | 11,625,000,000 | 16,795,000,000 | 11,712,000,000 | 11,419,000,000 | 11,134,000,000 | 15,115,000,000 | 11,471,000,000 | 11,102,000,000 | 11,185,000,000 | 15,595,000,000 | 12,440,000,000 | 12,051,000,000 | 11,911,000,000 | 14,491,000,000 | 12,555,000,000 | 12,165,000,000 | 12,067,000,000 | 15,719,000,000 | 12,133,000,000 | 11,745,000,000 | 11,563,000,000 | 11,569,000,000 | 11,297,000,000 | 11,541,000,000 | 11,165,000,000 | 10,872,000,000 | 10,838,000,000 | 10,562,000,000 | 10,293,000,000 | 10,412,000,000 | 10,229,000,000 | 9,914,000,000 | 9,936,000,000 | 10,130,000,000 | 10,304,000,000 | 9,898,000,000 | 9,771,000,000 | 9,439,000,000 | 9,186,000,000 | 8,891,000,000 | 8,686,000,000 | 8,473,000,000 | 8,034,000,000 | 7,828,000,000 |
selling, general, and administrative expenses | 5,536,000,000 | 5,359,000,000 | 4,591,000,000 | 5,923,000,000 | 5,486,000,000 | 5,392,000,000 | 5,168,000,000 | 6,029,000,000 | 5,316,000,000 | 5,184,000,000 | 5,025,000,000 | 5,675,000,000 | 5,219,000,000 | 5,002,000,000 | 4,762,000,000 | 5,535,000,000 | 4,859,000,000 | 4,849,000,000 | 4,509,000,000 | 5,448,000,000 | 4,647,000,000 | 4,460,000,000 | 4,060,000,000 | 4,505,000,000 | 4,153,000,000 | 3,912,000,000 | 3,663,000,000 | 4,376,000,000 | 3,937,000,000 | 3,865,000,000 | 3,545,000,000 | 4,221,000,000 | 3,512,000,000 | 3,382,000,000 | 3,132,000,000 | 3,615,000,000 | 3,339,000,000 | 3,249,000,000 | 3,153,000,000 | 3,920,000,000 | 3,736,000,000 | 3,495,000,000 | 3,514,000,000 | 3,373,000,000 | 3,894,000,000 | 3,816,000,000 | 3,593,000,000 | 4,235,000,000 | 3,853,000,000 | 3,698,000,000 | 3,590,000,000 | 3,704,000,000 | 3,588,000,000 | 3,392,000,000 | 3,525,000,000 | 3,473,000,000 | 3,233,000,000 | 3,345,000,000 | 3,263,000,000 | 3,143,000,000 | 3,255,000,000 | 3,136,000,000 | 3,015,000,000 | 3,245,000,000 | 3,153,000,000 | 3,037,000,000 | 3,455,000,000 | 3,328,000,000 | 3,093,000,000 | 3,151,000,000 | 2,987,000,000 | 2,879,000,000 | ||
depreciation and amortization | 649,000,000 | 632,000,000 | 655,000,000 | 646,000,000 | 639,000,000 | 626,000,000 | 618,000,000 | 622,000,000 | 616,000,000 | 594,000,000 | 583,000,000 | 615,000,000 | 597,000,000 | 572,000,000 | 601,000,000 | 605,000,000 | 577,000,000 | 564,000,000 | 598,000,000 | 570,000,000 | 541,000,000 | 542,000,000 | 577,000,000 | 640,000,000 | 575,000,000 | 561,000,000 | 581,000,000 | 585,000,000 | 530,000,000 | 539,000,000 | 570,000,000 | 598,000,000 | 574,000,000 | 514,000,000 | 573,000,000 | 612,000,000 | 570,000,000 | 570,000,000 | 546,000,000 | 562,000,000 | 561,000,000 | 551,000,000 | 540,000,000 | 338,000,000 | 606,000,000 | 606,000,000 | 579,000,000 | 575,000,000 | 569,000,000 | 542,000,000 | 536,000,000 | 542,000,000 | 531,000,000 | 529,000,000 | 546,000,000 | 509,000,000 | 512,000,000 | 533,000,000 | 496,000,000 | 516,000,000 | 537,000,000 | 478,000,000 | 472,000,000 | 469,000,000 | 448,000,000 | 435,000,000 | 429,000,000 | 404,000,000 | 392,000,000 | 389,000,000 | 370,000,000 | 334,000,000 | 354,000,000 | 346,000,000 |
operating income | 948,000,000 | 1,317,000,000 | 1,472,000,000 | 1,467,000,000 | 1,168,000,000 | 1,635,000,000 | 1,296,000,000 | 1,865,000,000 | 1,317,000,000 | 1,197,000,000 | 1,328,000,000 | 1,159,000,000 | 1,022,000,000 | 321,000,000 | 1,346,000,000 | 2,095,000,000 | 2,010,000,000 | 2,467,000,000 | 2,374,000,000 | 1,836,000,000 | 1,935,000,000 | 2,300,000,000 | 468,000,000 | 1,198,000,000 | 1,002,000,000 | 1,324,000,000 | 1,135,000,000 | 1,117,000,000 | 819,000,000 | 1,133,000,000 | 1,041,000,000 | |||||||||||||||||||||||||||||||||||||||||||
yoy | -18.84% | -19.45% | 13.58% | -21.34% | -11.31% | 36.59% | -2.41% | 60.91% | 28.86% | 272.90% | -1.34% | -44.68% | -49.15% | -86.99% | -43.30% | 14.11% | 3.88% | 7.26% | 407.26% | 53.26% | 93.11% | 73.72% | -58.77% | 7.25% | 22.34% | 16.86% | 9.03% | |||||||||||||||||||||||||||||||||||||||||||||||
qoq | -28.02% | -10.53% | 0.34% | 25.60% | -28.56% | 26.16% | -30.51% | 41.61% | 10.03% | -9.86% | 14.58% | 13.41% | 218.38% | -76.15% | -35.75% | 4.23% | -18.52% | 3.92% | 29.30% | -5.12% | -15.87% | 391.45% | -60.93% | 19.56% | -24.32% | 16.65% | 1.61% | 36.39% | -27.71% | 8.84% | ||||||||||||||||||||||||||||||||||||||||||||
operating margin % | 3.75% | 5.22% | 6.17% | 4.56% | 4.63% | 6.53% | 5.37% | 5.93% | 5.27% | 4.91% | 5.32% | 3.74% | 3.91% | 1.25% | 5.42% | 6.84% | 7.95% | 9.94% | 9.94% | 6.56% | 8.66% | 10.13% | 2.42% | 5.18% | 5.44% | 7.28% | 6.52% | 4.91% | 4.66% | 6.46% | 6.29% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
net interest expense | 115,000,000 | 116,000,000 | 116,000,000 | 90,000,000 | 105,000,000 | 110,000,000 | 106,000,000 | 107,000,000 | 107,000,000 | 141,000,000 | 147,000,000 | 129,000,000 | 125,000,000 | 112,000,000 | 112,000,000 | 104,000,000 | 105,000,000 | 104,000,000 | 108,000,000 | 106,000,000 | 632,000,000 | 122,000,000 | 117,000,000 | 118,000,000 | 113,000,000 | 120,000,000 | 126,000,000 | 109,000,000 | 115,000,000 | 115,000,000 | 121,000,000 | 134,000,000 | 254,000,000 | 135,000,000 | 144,000,000 | 140,000,000 | 142,000,000 | 307,000,000 | 415,000,000 | 152,000,000 | 151,000,000 | 148,000,000 | 155,000,000 | 94,000,000 | 165,000,000 | 453,000,000 | 170,000,000 | 161,000,000 | 165,000,000 | 171,000,000 | 629,000,000 | 192,000,000 | 184,000,000 | 184,000,000 | 200,000,000 | 191,000,000 | 183,000,000 | 194,000,000 | 185,000,000 | 187,000,000 | 191,000,000 | 194,000,000 | 202,000,000 | 234,000,000 | 217,000,000 | 201,000,000 | 177,000,000 | 154,000,000 | 136,000,000 | 149,000,000 | 140,000,000 | 131,000,000 | 118,000,000 | 110,000,000 |
net other income | -26,000,000 | -17,000,000 | -26,000,000 | -29,000,000 | -28,000,000 | -20,000,000 | -29,000,000 | -28,000,000 | -25,000,000 | -16,000,000 | -23,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
earnings before income taxes | 859,000,000 | 1,218,000,000 | 1,382,000,000 | 1,406,000,000 | 1,091,000,000 | 1,545,000,000 | 1,219,000,000 | 1,786,000,000 | 1,235,000,000 | 1,072,000,000 | 1,204,000,000 | 1,043,000,000 | 909,000,000 | 217,000,000 | 1,249,000,000 | 1,722,500,000 | 1,911,000,000 | 2,370,000,000 | 2,609,000,000 | 379,750,000 | 512,000,000 | 366,000,000 | 641,000,000 | 825,000,000 | 538,000,000 | 961,000,000 | 779,000,000 | 972,000,000 | 1,071,000,000 | 1,101,000,000 | 857,000,000 | 1,109,000,000 | 1,081,000,000 | 773,000,000 | 1,081,000,000 | 1,055,000,000 | 683,000,000 | 957,000,000 | 824,000,000 | 633,000,000 | 1,003,000,000 | 957,000,000 | 781,000,000 | 1,113,000,000 | 1,064,000,000 | 808,000,000 | 994,000,000 | 886,000,000 | ||||||||||||||||||||||||||
provision for income taxes | 170,000,000 | 283,000,000 | 346,000,000 | 303,000,000 | 237,000,000 | 353,000,000 | 277,000,000 | 404,000,000 | 264,000,000 | 237,000,000 | 254,000,000 | 167,000,000 | 197,000,000 | 34,000,000 | 240,000,000 | 473,000,000 | 423,000,000 | 553,000,000 | 512,000,000 | 350,000,000 | 284,000,000 | 499,000,000 | 45,000,000 | 218,000,000 | 195,000,000 | 279,000,000 | 229,000,000 | 216,000,000 | 97,000,000 | 223,000,000 | 210,000,000 | -84,000,000 | 137,000,000 | 308,000,000 | 357,000,000 | 386,000,000 | 311,000,000 | 316,000,000 | 283,000,000 | 596,000,000 | 249,000,000 | 409,000,000 | 348,000,000 | 689,000,000 | 160,000,000 | 132,000,000 | 223,000,000 | 305,000,000 | 197,000,000 | 350,000,000 | 281,000,000 | 335,000,000 | 367,000,000 | 404,000,000 | 302,000,000 | 405,000,000 | 392,000,000 | 238,000,000 | 402,000,000 | 369,000,000 | ||||||||||||||
net earnings | 689,000,000 | 935,000,000 | 1,036,000,000 | 1,103,000,000 | 854,000,000 | 1,192,000,000 | 942,000,000 | 1,382,000,000 | 971,000,000 | 835,000,000 | 950,000,000 | 876,000,000 | 712,000,000 | 183,000,000 | 1,009,000,000 | 1,544,000,000 | 1,488,000,000 | 1,817,000,000 | 2,097,000,000 | 1,380,000,000 | 1,014,000,000 | 1,690,000,000 | 284,000,000 | 834,000,000 | 714,000,000 | 938,000,000 | 795,000,000 | 798,000,000 | 622,000,000 | 799,000,000 | 718,000,000 | 1,101,000,000 | 480,000,000 | 672,000,000 | 681,000,000 | 480,000,000 | 608,000,000 | 680,000,000 | 632,000,000 | 484,250,000 | 549,000,000 | 753,000,000 | 635,000,000 | -2,640,000,000 | 352,000,000 | 234,000,000 | 418,000,000 | 520,000,000 | 341,000,000 | 611,000,000 | 498,000,000 | 637,000,000 | 704,000,000 | 697,000,000 | 555,000,000 | 704,000,000 | 689,000,000 | 535,000,000 | 679,000,000 | 671,000,000 | 436,000,000 | 594,000,000 | 522,000,000 | 369,000,000 | 634,000,000 | 602,000,000 | 483,000,000 | 686,000,000 | 651,000,000 | 506,000,000 | 609,000,000 | 554,000,000 | 435,000,000 | 540,000,000 |
yoy | -19.32% | -21.56% | 9.98% | -20.19% | -12.05% | 42.75% | -0.84% | 57.76% | 36.38% | 356.28% | -5.85% | -43.26% | -52.15% | -89.93% | -51.88% | 11.88% | 46.75% | 7.51% | 638.38% | 65.47% | 42.02% | 80.17% | -64.28% | 4.51% | 14.79% | 17.40% | 10.72% | -27.52% | 29.58% | 18.90% | 5.43% | 129.38% | -21.05% | -1.18% | 7.75% | -0.88% | 10.75% | -9.69% | -0.47% | -118.34% | 55.97% | 221.79% | 51.91% | -607.69% | 3.23% | -61.70% | -16.06% | -18.37% | -51.56% | -12.34% | -10.27% | -9.52% | 2.18% | 30.28% | -18.26% | 4.92% | 58.03% | -9.93% | 30.08% | 81.84% | -31.23% | -1.33% | 8.07% | -46.21% | -2.61% | 18.97% | -20.69% | 23.83% | 49.66% | -6.30% | ||||
qoq | -26.31% | -9.75% | -6.07% | 29.16% | -28.36% | 26.54% | -31.84% | 42.33% | 16.29% | -12.11% | 8.45% | 23.03% | 289.07% | -81.86% | -34.65% | 3.76% | -18.11% | -13.35% | 51.96% | 36.09% | -40.00% | 495.07% | -65.95% | 16.81% | -23.88% | 17.99% | -0.38% | 28.30% | -22.15% | 11.28% | -34.79% | 129.38% | -28.57% | -1.32% | 41.87% | -21.05% | -10.59% | 7.59% | 30.51% | -11.79% | -27.09% | 18.58% | -124.05% | -850.00% | 50.43% | -44.02% | -19.62% | 52.49% | -44.19% | 22.69% | -21.82% | -9.52% | 1.00% | 25.59% | -21.16% | 2.18% | 28.79% | -21.21% | 1.19% | 53.90% | -26.60% | 13.79% | 41.46% | -41.80% | 5.32% | 24.64% | -29.59% | 5.38% | 28.66% | -16.91% | 9.93% | 27.36% | -19.44% | |
net income margin % | 2.73% | 3.71% | 4.34% | 3.43% | 3.39% | 4.76% | 3.90% | 4.39% | 3.88% | 3.42% | 3.81% | 2.83% | 2.73% | 0.71% | 4.06% | 5.04% | 5.88% | 7.32% | 8.78% | 4.93% | 4.54% | 7.45% | 1.47% | 3.61% | 3.88% | 5.16% | 4.57% | 3.51% | 3.54% | 4.55% | 4.34% | 4.84% | 2.88% | 4.09% | 4.25% | 2.32% | 3.70% | 4.21% | 3.90% | 2.24% | 3.12% | 4.32% | 3.71% | -12.92% | 1.99% | 1.34% | 2.45% | 2.42% | 1.98% | 3.57% | 2.98% | 3.84% | 4.28% | 4.21% | 3.46% | 4.43% | 4.42% | 3.51% | 4.49% | 4.43% | 2.95% | 4.08% | 3.63% | 2.53% | 4.23% | 4.21% | 3.37% | 4.84% | 4.78% | 3.85% | 4.70% | 4.43% | 3.67% | 4.63% |
basic earnings per share | 1.52 | 2.06 | 2.28 | 2.42 | 1.86 | 2.58 | 2.04 | 2.99 | 2.1 | 1.81 | 2.06 | 1.91 | 1.55 | 0.4 | 2.17 | 2.743 | 3.07 | 3.68 | 4.2 | 0.395 | 0.55 | 0.37 | 0.66 | 0.82 | 0.54 | 0.96 | 0.78 | 0.97 | 1.07 | 1.05 | 0.82 | 1.03 | 0.99 | 0.75 | 0.93 | 0.91 | 0.58 | 0.79 | 0.69 | 0.49 | 0.82 | 0.75 | 0.57 | 0.81 | 0.76 | 0.59 | 0.71 | 0.64 | 0.49 | 0.61 | ||||||||||||||||||||||||
diluted earnings per share | 1.51 | 2.05 | 2.27 | 2.41 | 1.85 | 2.57 | 2.03 | 2.98 | 2.1 | 1.8 | 2.05 | 1.89 | 1.54 | 0.39 | 2.16 | 2.718 | 3.04 | 3.65 | 4.17 | 0.393 | 0.55 | 0.37 | 0.66 | 0.81 | 0.54 | 0.95 | 0.77 | 0.96 | 1.06 | 1.04 | 0.82 | 1.03 | 0.99 | 0.74 | 0.92 | 0.9 | 0.58 | 0.79 | 0.69 | 0.49 | 0.82 | 0.74 | 0.56 | 0.8 | 0.75 | 0.59 | 0.7 | 0.63 | 0.49 | 0.61 | ||||||||||||||||||||||||
weighted-average common shares outstanding | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
basic | 453.7 | 454.6 | 455 | 460.4 | 460.1 | 462.5 | 462.2 | 461.5 | 461.6 | 461.6 | 460.9 | 462.1 | 460.3 | 461.5 | 464 | 488.1 | 484.8 | 493.1 | 498.6 | 500.6 | 500.6 | 500.1 | 501 | 510.9 | 509.7 | 512.1 | 515.7 | 528.6 | 525.9 | 531.7 | 536.9 | 546.8 | 544.5 | 549.3 | 552.4 | 577.6 | 570.1 | 582.2 | 598.3 | 627.7 | 623.7 | 635.8 | 640.9 | 634.7 | 634 | 633.5 | 633.3 | 635.1 | 631.3 | 634.8 | 654.8 | 656.7 | 666 | 680.8 | 692.6 | 715.4 | 731.1 | 739.9 | 751.8 | 752 | 752.2 | 753.5 | 770.3 | 805.5 | 845.6 | 850.8 | 855.9 | 857.8 | 860.8 | 870.7 | 881.2 | 883.3 | ||
diluted | 455.1 | 455.6 | 456.5 | 461.8 | 461.5 | 463.5 | 463.9 | 462.8 | 462.6 | 462.5 | 462.9 | 464.7 | 462.5 | 463.6 | 467.8 | 492.7 | 489.4 | 497.5 | 503.4 | 505.4 | 505.4 | 504.4 | 505.8 | 515.6 | 514.8 | 516.1 | 519.5 | 533.2 | 662.2 | 662.9 | 672 | 685.1 | 697.4 | 721 | 736.6 | 745.7 | 755.7 | 754.4 | 753 | 756.6 | 773.9 | 809.6 | 851 | 857.4 | 862.8 | 864.4 | 867.2 | 877.6 | 887 | 891.2 | ||||||||||||||||||||||||
antidilutive shares | 2.3 | 5 | 2.4 | 0.5 | 2.3 | 1.6 | -0.5 | 3 | 2.9 | 1.2 | 1.3 | 1.3 | 0.2 | 0.1 | 2.2 | 4.5 | 5.2 | 3 | 0.2 | 0.2 | -0.9 | 2.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
other revenue | 314,750,000 | 440,000,000 | 431,000,000 | 388,000,000 | 452,000,000 | 394,000,000 | 389,000,000 | 374,000,000 | 412,000,000 | 396,000,000 | 384,000,000 | 340,000,000 | 380,000,000 | 362,000,000 | 334,000,000 | 318,000,000 | 342,000,000 | 296,000,000 | 279,000,000 | 244,000,000 | 266,000,000 | 251,000,000 | 239,000,000 | 226,000,000 | 243,000,000 | 231,000,000 | 224,000,000 | 225,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||
total revenue | 18,912,750,000 | 25,668,000,000 | 25,452,000,000 | 24,531,000,000 | 31,919,000,000 | 25,398,000,000 | 24,773,000,000 | 25,322,000,000 | 31,395,000,000 | 26,518,000,000 | 26,037,000,000 | 25,170,000,000 | 30,996,000,000 | 25,652,000,000 | 25,160,000,000 | 24,197,000,000 | 28,339,000,000 | 22,632,000,000 | 22,975,000,000 | 19,615,000,000 | 23,399,000,000 | 18,665,000,000 | 18,422,000,000 | 17,627,000,000 | 22,977,000,000 | 17,821,000,000 | 17,776,000,000 | 16,781,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||
net other expense | -13,000,000 | -12,000,000 | -8,000,000 | -15,000,000 | -26,000,000 | -6,000,000 | -7,000,000 | -343,000,000 | 5,000,000 | -11,000,000 | 22,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
earnings from continuing operations before income taxes | 1,730,000,000 | 1,298,000,000 | 2,189,000,000 | 329,000,000 | 1,051,000,000 | 901,000,000 | 1,217,000,000 | 1,021,000,000 | 1,014,000,000 | 713,000,000 | 1,022,000,000 | 927,000,000 | 1,018,000,000 | 615,000,000 | 979,000,000 | 1,034,000,000 | 1,208,000,000 | 919,000,000 | 941,000,000 | 897,000,000 | 2,017,000,000 | 725,000,000 | 1,182,000,000 | 999,000,000 | 713,000,000 | 869,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
net earnings from continuing operations | 1,380,000,000 | 1,014,000,000 | 1,690,000,000 | 284,000,000 | 833,000,000 | 706,000,000 | 938,000,000 | 792,000,000 | 798,000,000 | 616,000,000 | 799,000,000 | 717,000,000 | 1,102,000,000 | 478,000,000 | 671,000,000 | 677,000,000 | 822,000,000 | 608,000,000 | 625,000,000 | 614,000,000 | 1,421,000,000 | 476,000,000 | 773,000,000 | 651,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
discontinued operations, net of tax | 1,000,000 | 8,000,000 | 3,000,000 | 6,000,000 | 1,000,000 | -1,000,000 | 2,000,000 | 1,000,000 | 4,000,000 | -5,000,000 | 55,000,000 | 18,000,000 | 5,000,000 | 73,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
continuing operations | 2.75 | 2.02 | 3.38 | 0.57 | 1.64 | 1.38 | 1.83 | 1.54 | 1.53 | 1.17 | 1.5 | 1.34 | 2.02 | 0.88 | 1.22 | 1.23 | 1.46 | 1.07 | 1.07 | 1.03 | 2.29 | 0.76 | 1.21 | 1.02 | 0.49 | 0.61 | ||||||||||||||||||||||||||||||||||||||||||||||||
discontinued operations | 0.02 | 0.01 | 0.01 | 0.09 | 0.03 | 0.01 | 0.12 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net earnings per share | 2.75 | 2.02 | 3.38 | 0.57 | 1.65 | 1.4 | 1.83 | 1.54 | 1.53 | 1.18 | 1.5 | 1.34 | 2.02 | 0.88 | 1.22 | 1.23 | 0.823 | 1.07 | 1.17 | 1.06 | 0.765 | 0.88 | 1.18 | 0.99 | ||||||||||||||||||||||||||||||||||||||||||||||||||
weighted-average common shares outstanding | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
basic | 453.7 | 454.6 | 455 | 460.4 | 460.1 | 462.5 | 462.2 | 461.5 | 461.6 | 461.6 | 460.9 | 462.1 | 460.3 | 461.5 | 464 | 488.1 | 484.8 | 493.1 | 498.6 | 500.6 | 500.6 | 500.1 | 501 | 510.9 | 509.7 | 512.1 | 515.7 | 528.6 | 525.9 | 531.7 | 536.9 | 546.8 | 544.5 | 549.3 | 552.4 | 577.6 | 570.1 | 582.2 | 598.3 | 627.7 | 623.7 | 635.8 | 640.9 | 634.7 | 634 | 633.5 | 633.3 | 635.1 | 631.3 | 634.8 | 654.8 | 656.7 | 666 | 680.8 | 692.6 | 715.4 | 731.1 | 739.9 | 751.8 | 752 | 752.2 | 753.5 | 770.3 | 805.5 | 845.6 | 850.8 | 855.9 | 857.8 | 860.8 | 870.7 | 881.2 | 883.3 | ||
dilutive impact of share-based awards | 1.175 | 5.3 | 4.6 | 4.1 | 0.775 | 3.4 | 2.6 | 2.8 | 1.25 | 4.7 | 4.6 | 5.5 | 1.3 | 5.1 | 5.2 | 5.5 | 1.275 | 5.6 | 4.9 | 4.9 | 1.75 | 6.1 | 7.2 | 7.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||
diluted | 134.05 | 531.2 | 536.3 | 541 | -1.5 | 547.9 | 551.9 | 555.2 | -6 | 574.8 | 586.8 | 603.8 | -5.8 | 628.8 | 641 | 646.4 | 1.4 | 639.6 | 638.4 | 638.2 | -1.2 | 637.4 | 642 | 649.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||
dividends declared per share | 0.64 | 0.62 | 0.62 | 0.62 | 0.62 | 0.6 | 0.6 | 0.6 | 0.6 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
gross margin | 7,133,000,000 | 7,308,000,000 | 6,718,000,000 | 9,295,000,000 | 6,853,000,000 | 7,222,000,000 | 6,694,000,000 | 8,064,000,000 | 6,855,000,000 | 6,586,000,000 | 6,562,000,000 | 7,037,000,000 | 6,442,000,000 | 5,511,000,000 | 6,369,000,000 | 7,855,000,000 | 7,084,000,000 | 7,546,000,000 | 7,163,000,000 | 7,512,000,000 | 6,827,000,000 | 7,023,000,000 | 4,861,000,000 | 6,077,000,000 | 5,479,000,000 | 5,558,000,000 | 5,153,000,000 | 5,835,000,000 | 5,055,000,000 | 5,313,000,000 | 4,931,000,000 | 5,971,000,000 | 4,955,000,000 | 5,010,000,000 | 4,883,000,000 | 5,575,000,000 | 4,970,000,000 | 5,067,000,000 | 5,011,000,000 | 6,031,000,000 | 5,173,000,000 | 5,376,000,000 | 5,208,000,000 | 5,939,000,000 | 5,177,000,000 | 5,241,000,000 | 4,983,000,000 | 5,796,000,000 | 5,125,000,000 | 5,372,000,000 | 5,143,000,000 | 5,032,000,000 | 5,154,000,000 | 4,996,000,000 | 4,889,000,000 | 5,023,000,000 | 4,742,000,000 | 4,664,000,000 | 4,833,000,000 | 4,746,000,000 | 4,560,000,000 | 4,653,000,000 | 4,425,000,000 | 4,458,000,000 | 4,667,000,000 | 4,404,000,000 | 4,571,000,000 | 4,728,000,000 | 4,437,000,000 | 4,265,000,000 | 4,273,000,000 | 4,020,000,000 | 3,829,000,000 | 3,839,000,000 |
yoy | 4.09% | 1.19% | 0.36% | 15.27% | -0.03% | 9.66% | 2.01% | 14.59% | 6.41% | 19.51% | 3.03% | -10.41% | -9.06% | -26.97% | -11.08% | 4.57% | 3.76% | 7.45% | 47.36% | 23.61% | 24.60% | 26.36% | -5.67% | 4.15% | 8.39% | 4.61% | 4.50% | -2.28% | 2.02% | 6.05% | 0.98% | 7.10% | -0.30% | -1.12% | -2.55% | -7.56% | -3.92% | -5.75% | -3.78% | 1.55% | -0.08% | 2.58% | 4.52% | 2.47% | 1.01% | -2.44% | -3.11% | 15.18% | -0.56% | 7.53% | 5.20% | 0.18% | 8.69% | 7.12% | 1.16% | 5.84% | 3.99% | 0.24% | 9.22% | 6.46% | -2.29% | 5.65% | -3.19% | -5.71% | 5.18% | 3.26% | 6.97% | 17.61% | 15.88% | 11.10% | ||||
qoq | -2.39% | 8.78% | -27.72% | 35.63% | -5.11% | 7.89% | -16.99% | 17.64% | 4.08% | 0.37% | -6.75% | 9.24% | 16.89% | -13.47% | -18.92% | 10.88% | -6.12% | 5.35% | -4.65% | 10.03% | -2.79% | 44.48% | -20.01% | 10.91% | -1.42% | 7.86% | -11.69% | 15.43% | -4.86% | 7.75% | -17.42% | 20.50% | -1.10% | 2.60% | -12.41% | 12.17% | -1.91% | 1.12% | -16.91% | 16.59% | -3.78% | 3.23% | -12.31% | 14.72% | -1.22% | 5.18% | -14.03% | 13.09% | -4.60% | 4.45% | 2.21% | -2.37% | 3.16% | 2.19% | -2.67% | 5.93% | 1.67% | -3.50% | 1.83% | 4.08% | -2.00% | 5.15% | -0.74% | -4.48% | 5.97% | -3.65% | -3.32% | 6.56% | 4.03% | -0.19% | 6.29% | 4.99% | -0.26% | |
gross margin % | 28.23% | 28.99% | 28.17% | 28.89% | 27.16% | 28.86% | 27.73% | 25.63% | 27.42% | 27.01% | 26.30% | 22.71% | 24.66% | 21.48% | 25.65% | 25.66% | 28.01% | 30.40% | 30.00% | 26.83% | 30.57% | 30.94% | 25.09% | 26.27% | 29.75% | 30.57% | 29.61% | 25.67% | 28.74% | 30.27% | 29.78% | 26.23% | 29.73% | 30.49% | 30.49% | 26.95% | 30.23% | 31.34% | 30.94% | 27.89% | 29.37% | 30.85% | 30.42% | 29.07% | 29.20% | 30.11% | 29.23% | 26.94% | 29.70% | 31.38% | 30.79% | 30.31% | 31.33% | 30.21% | 30.45% | 31.60% | 30.44% | 30.63% | 31.95% | 31.31% | 30.83% | 31.94% | 30.81% | 30.56% | 31.17% | 30.79% | 31.87% | 33.37% | 32.57% | 32.42% | 32.97% | 32.18% | 32.28% | 32.90% |
earnings from continuing operations before interest expense and income taxes | 1,152,000,000 | 869,000,000 | 1,114,000,000 | 1,178,000,000 | 1,348,000,000 | 1,061,000,000 | 1,248,000,000 | 1,312,000,000 | 2,169,000,000 | 876,000,000 | 1,330,000,000 | 1,154,000,000 | 831,000,000 | 979,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
basic earnings / (loss) per share | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
diluted earnings / (loss) per share | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
gain on receivables transaction | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
earnings before interest expense and income taxes | 576,750,000 | 677,000,000 | 819,000,000 | 811,000,000 | 986,000,000 | 703,000,000 | 1,132,000,000 | 1,408,000,000 | 1,164,000,000 | 1,255,000,000 | 1,285,000,000 | 1,057,000,000 | 1,300,000,000 | 1,264,000,000 | 967,000,000 | 1,266,000,000 | 1,242,000,000 | 874,000,000 | 1,151,000,000 | 1,026,000,000 | 867,000,000 | 1,220,000,000 | 1,158,000,000 | 958,000,000 | 1,267,000,000 | 1,200,000,000 | 957,000,000 | 1,134,000,000 | 1,017,000,000 | |||||||||||||||||||||||||||||||||||||||||||||
credit card revenues | 328,000,000 | 328,000,000 | 330,000,000 | 348,000,000 | 345,000,000 | 355,000,000 | 379,000,000 | 406,000,000 | 435,000,000 | 487,000,000 | 500,000,000 | 472,000,000 | 526,000,000 | 501,000,000 | 500,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total revenues | 21,515,000,000 | 17,258,000,000 | 17,117,000,000 | 16,706,000,000 | 16,929,000,000 | 16,779,000,000 | 16,867,000,000 | 16,402,000,000 | 16,240,000,000 | 15,935,000,000 | 15,605,000,000 | 15,532,000,000 | 15,593,000,000 | 15,276,000,000 | 15,067,000,000 | 14,833,000,000 | 15,114,000,000 | 15,472,000,000 | 14,802,000,000 | 14,835,000,000 | 14,620,000,000 | 14,041,000,000 | 13,570,000,000 | 13,347,000,000 | 12,863,000,000 | 12,206,000,000 | 11,990,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
credit card expenses | 106,000,000 | 108,000,000 | 120,000,000 | 109,000,000 | 86,000,000 | 88,000,000 | 198,000,000 | 214,000,000 | 280,000,000 | 381,000,000 | 388,000,000 | 384,000,000 | 403,000,000 | 347,000,000 | 274,000,000 | 222,000,000 | 182,000,000 | 170,000,000 | 182,000,000 | 170,000,000 | 160,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
weighted average common shares outstanding | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
basic | 642.1 | 673.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
gain on receivables held for sale | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
nonrecourse debt collateralized by credit card receivables | 18,000,000 | 18,000,000 | 19,000,000 | 20,000,000 | 21,000,000 | 23,000,000 | 23,000,000 | 24,000,000 | 26,000,000 | 60,000,000 | 48,000,000 | 18,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other interest expense | 184,000,000 | 174,000,000 | 164,000,000 | 175,000,000 | 165,000,000 | 165,000,000 | 168,000,000 | 171,000,000 | 177,000,000 | 180,000,000 | 179,000,000 | 191,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
interest income | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
weighted average common shares outstanding | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
basic | 642.1 | 673.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
diluted | 678.3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
benefit from income taxes | 384,000,000 | 247,000,000 | 363,000,000 | 302,000,000 | 264,000,000 | 355,000,000 | 298,000,000 | 427,000,000 | 413,000,000 | 302,000,000 | 385,000,000 | 332,000,000 | 278,000,000 | 329,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
interest expense | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net credit card revenues | 493,000,000 | 453,000,000 | 418,000,000 | 414,000,000 | 388,000,000 | 370,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
weighted-average common shares outstanding: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
basic | 453.7 | 454.6 | 455 | 460.4 | 460.1 | 462.5 | 462.2 | 461.5 | 461.6 | 461.6 | 460.9 | 462.1 | 460.3 | 461.5 | 464 | 488.1 | 484.8 | 493.1 | 498.6 | 500.6 | 500.6 | 500.1 | 501 | 510.9 | 509.7 | 512.1 | 515.7 | 528.6 | 525.9 | 531.7 | 536.9 | 546.8 | 544.5 | 549.3 | 552.4 | 577.6 | 570.1 | 582.2 | 598.3 | 627.7 | 623.7 | 635.8 | 640.9 | 634.7 | 634 | 633.5 | 633.3 | 635.1 | 631.3 | 634.8 | 654.8 | 656.7 | 666 | 680.8 | 692.6 | 715.4 | 731.1 | 739.9 | 751.8 | 752 | 752.2 | 753.5 | 770.3 | 805.5 | 845.6 | 850.8 | 855.9 | 857.8 | 860.8 | 870.7 | 881.2 | 883.3 | ||
diluted | 455.1 | 455.6 | 456.5 | 461.8 | 461.5 | 463.5 | 463.9 | 462.8 | 462.6 | 462.5 | 462.9 | 464.7 | 462.5 | 463.6 | 467.8 | 492.7 | 489.4 | 497.5 | 503.4 | 505.4 | 505.4 | 504.4 | 505.8 | 515.6 | 514.8 | 516.1 | 519.5 | 533.2 | 662.2 | 662.9 | 672 | 685.1 | 697.4 | 721 | 736.6 | 745.7 | 755.7 | 754.4 | 753 | 756.6 | 773.9 | 809.6 | 851 | 857.4 | 862.8 | 864.4 | 867.2 | 877.6 | 887 | 891.2 | ||||||||||||||||||||||||
net credit revenues | 343,000,000 | 323,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
selling, general and administrative expense | 2,786,000,000 | 2,650,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
credit expense | 201,000,000 | 187,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
earnings from continuing operations | 435,000,000 | 540,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
earnings from discontinued operations, net of taxes of 2 and 46 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
gain on disposal of discontinued operations, net of taxes of 132 and 782 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
gain on disposal of discontinued operations | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
dividends declared per common share | 0.1 | 0.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
earnings from discontinued operations, net of taxes of 19 and 44 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
gain on disposal of discontinued operations, net of taxes of 650 and 650 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2025-11-01 | 2025-08-02 | 2025-05-03 | 2025-02-01 | 2024-11-02 | 2024-08-03 | 2024-05-04 | 2024-02-03 | 2023-10-28 | 2023-07-29 | 2023-04-29 | 2023-01-28 | 2022-10-29 | 2022-07-30 | 2022-04-30 | 2022-01-29 | 2021-10-30 | 2021-07-31 | 2021-05-01 | 2021-01-30 | 2020-10-31 | 2020-08-01 | 2020-05-02 | 2020-02-01 | 2019-11-02 | 2019-08-03 | 2019-05-04 | 2019-02-02 | 2018-11-03 | 2018-08-04 | 2018-05-05 | 2018-02-03 | 2017-10-28 | 2017-07-29 | 2017-04-29 | 2017-01-28 | 2016-10-29 | 2016-07-30 | 2016-04-30 | 2016-01-30 | 2015-10-31 | 2015-08-01 | 2015-05-02 | 2015-01-31 | 2014-11-01 | 2014-08-02 | 2014-05-03 | 2014-02-01 | 2013-11-02 | 2011-07-30 | 2011-04-30 | 2010-07-31 | 2010-05-01 | 2009-10-31 | 2009-08-01 | 2009-05-02 | 2008-11-01 | 2008-08-02 | 2008-05-03 | 2007-08-04 | 2007-05-05 | 2007-02-03 | 2006-10-28 | 2006-07-29 | 2006-04-29 | 2005-04-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents | 3,822,000,000 | 4,341,000,000 | 2,887,000,000 | 4,762,000,000 | 3,433,000,000 | 3,497,000,000 | 3,604,000,000 | 3,805,000,000 | 1,910,000,000 | 1,617,000,000 | 1,321,000,000 | 2,229,000,000 | 954,000,000 | 1,117,000,000 | 1,112,000,000 | 5,911,000,000 | 5,753,000,000 | 7,368,000,000 | 7,816,000,000 | 8,511,000,000 | 5,996,000,000 | 7,284,000,000 | 4,566,000,000 | 2,577,000,000 | 969,000,000 | 1,656,000,000 | 1,173,000,000 | 1,556,000,000 | 825,000,000 | 1,180,000,000 | 1,060,000,000 | 2,643,000,000 | 2,725,000,000 | 2,291,000,000 | 780,000,000 | 918,000,000 | 1,527,000,000 | 620,000,000 | 555,000,000 | 969,000,000 | 627,000,000 | 451,000,000 | 477,000,000 | 989,000,000 | 1,152,000,000 | |||||||||||||||||||||
inventory | 14,896,000,000 | 12,881,000,000 | 13,048,000,000 | 12,740,000,000 | 15,165,000,000 | 12,604,000,000 | 11,730,000,000 | 11,886,000,000 | 14,731,000,000 | 12,684,000,000 | 12,616,000,000 | 13,499,000,000 | 17,117,000,000 | 15,320,000,000 | 15,083,000,000 | 13,902,000,000 | 14,958,000,000 | 11,259,000,000 | 10,539,000,000 | 10,653,000,000 | 12,712,000,000 | 8,876,000,000 | 8,584,000,000 | 8,992,000,000 | 11,396,000,000 | 9,122,000,000 | 9,060,000,000 | 9,497,000,000 | 12,393,000,000 | 9,112,000,000 | 8,652,000,000 | 8,657,000,000 | 10,586,000,000 | 8,257,000,000 | 7,986,000,000 | 8,309,000,000 | 10,057,000,000 | 8,631,000,000 | 8,459,000,000 | 8,601,000,000 | 10,374,000,000 | 8,269,000,000 | 8,610,000,000 | 8,790,000,000 | 11,066,000,000 | 8,918,000,000 | 8,450,000,000 | 8,766,000,000 | 10,376,000,000 | 7,926,000,000 | 7,696,000,000 | 7,728,000,000 | 7,249,000,000 | 9,382,000,000 | 7,528,000,000 | 6,993,000,000 | 9,050,000,000 | 7,313,000,000 | 6,836,000,000 | 6,645,000,000 | 6,387,000,000 | 8,746,000,000 | 7,797,000,000 | 6,275,000,000 | 6,030,000,000 | 5,407,000,000 |
other current assets | 1,984,000,000 | 1,812,000,000 | 1,824,000,000 | 1,952,000,000 | 1,956,000,000 | 1,817,000,000 | 1,744,000,000 | 1,807,000,000 | 1,958,000,000 | 1,797,000,000 | 1,836,000,000 | 2,118,000,000 | 2,322,000,000 | 2,016,000,000 | 1,758,000,000 | 1,760,000,000 | 1,865,000,000 | 1,604,000,000 | 1,576,000,000 | 1,592,000,000 | 1,601,000,000 | 1,463,000,000 | 1,465,000,000 | 1,333,000,000 | 1,440,000,000 | 1,341,000,000 | 1,374,000,000 | 1,466,000,000 | 1,421,000,000 | 1,211,000,000 | 1,164,000,000 | 1,264,000,000 | 1,392,000,000 | 1,053,000,000 | 1,047,000,000 | 1,100,000,000 | 1,492,000,000 | 1,309,000,000 | 1,099,000,000 | 1,161,000,000 | 2,402,000,000 | 2,250,000,000 | 1,672,000,000 | 1,754,000,000 | 1,992,000,000 | 1,833,000,000 | 1,858,000,000 | 2,112,000,000 | 2,071,000,000 | 1,521,000,000 | 1,527,000,000 | 1,840,000,000 | 2,065,000,000 | 2,314,000,000 | 1,910,000,000 | 1,735,000,000 | 2,272,000,000 | 1,800,000,000 | 1,473,000,000 | 1,535,000,000 | 1,347,000,000 | 1,841,000,000 | 1,466,000,000 | 1,297,000,000 | 1,169,000,000 | 1,039,000,000 |
total current assets | 20,702,000,000 | 19,034,000,000 | 17,759,000,000 | 19,454,000,000 | 20,554,000,000 | 17,918,000,000 | 17,078,000,000 | 17,498,000,000 | 18,599,000,000 | 16,098,000,000 | 15,773,000,000 | 17,846,000,000 | 20,393,000,000 | 18,453,000,000 | 17,953,000,000 | 21,573,000,000 | 22,576,000,000 | 20,231,000,000 | 19,931,000,000 | 20,756,000,000 | 20,309,000,000 | 17,623,000,000 | 14,615,000,000 | 12,902,000,000 | 13,805,000,000 | 12,119,000,000 | 11,607,000,000 | 12,519,000,000 | 14,639,000,000 | 11,503,000,000 | 10,876,000,000 | 12,564,000,000 | 14,709,000,000 | 11,620,000,000 | 11,739,000,000 | 11,990,000,000 | 12,842,000,000 | 11,503,000,000 | 13,948,000,000 | 14,130,000,000 | 15,204,000,000 | 13,358,000,000 | 13,198,000,000 | 14,087,000,000 | 13,838,000,000 | 11,554,000,000 | 11,023,000,000 | 11,573,000,000 | 13,153,000,000 | 16,059,000,000 | 16,368,000,000 | 17,245,000,000 | 17,222,000,000 | 19,583,000,000 | 17,683,000,000 | 17,551,000,000 | 20,239,000,000 | 18,620,000,000 | 16,759,000,000 | 15,132,000,000 | 14,709,000,000 | 18,334,000,000 | 15,348,000,000 | 13,589,000,000 | 13,556,000,000 | 12,455,000,000 |
property and equipment | 33,710,000,000 | 33,568,000,000 | 33,182,000,000 | 33,022,000,000 | 32,931,000,000 | 33,075,000,000 | 33,114,000,000 | 33,096,000,000 | 33,168,000,000 | 32,947,000,000 | 32,396,000,000 | 31,512,000,000 | 30,921,000,000 | 29,820,000,000 | 28,670,000,000 | 28,181,000,000 | 27,915,000,000 | 27,244,000,000 | 26,804,000,000 | 26,879,000,000 | 26,773,000,000 | 26,739,000,000 | 26,589,000,000 | 26,283,000,000 | 26,384,000,000 | 26,012,000,000 | 25,706,000,000 | 25,533,000,000 | 25,607,000,000 | 25,172,000,000 | 24,767,000,000 | 25,018,000,000 | 25,112,000,000 | 24,861,000,000 | 24,682,000,000 | 24,658,000,000 | 24,902,000,000 | 24,934,000,000 | 25,049,000,000 | 25,217,000,000 | 25,472,000,000 | 25,583,000,000 | 25,778,000,000 | 25,958,000,000 | 30,886,000,000 | 31,195,000,000 | 31,359,000,000 | 31,378,000,000 | 31,726,000,000 | 28,373,000,000 | 25,648,000,000 | 25,401,000,000 | 25,212,000,000 | 25,591,000,000 | 25,712,000,000 | 25,800,000,000 | 25,525,000,000 | 25,152,000,000 | 24,666,000,000 | 23,027,000,000 | 22,260,000,000 | 23,606,000,000 | 27,563,000,000 | 26,647,000,000 | 26,035,000,000 | 22,696,000,000 |
operating lease assets | 3,739,000,000 | 3,694,000,000 | 3,739,000,000 | 3,763,000,000 | 3,513,000,000 | 3,545,000,000 | 3,486,000,000 | 3,362,000,000 | 3,086,000,000 | 2,840,000,000 | 2,640,000,000 | 2,657,000,000 | 2,596,000,000 | 2,542,000,000 | 2,571,000,000 | 2,556,000,000 | 2,539,000,000 | 2,503,000,000 | 2,362,000,000 | 2,227,000,000 | 2,208,000,000 | 2,233,000,000 | 2,235,000,000 | 2,236,000,000 | 2,151,000,000 | 2,062,000,000 | 2,019,000,000 | 1,965,000,000 | 1,997,000,000 | 1,976,000,000 | 1,958,000,000 | |||||||||||||||||||||||||||||||||||
other noncurrent assets | 1,840,000,000 | 1,555,000,000 | 1,505,000,000 | 1,530,000,000 | 1,533,000,000 | 1,457,000,000 | 1,439,000,000 | 1,400,000,000 | 1,376,000,000 | 1,321,000,000 | 1,341,000,000 | 1,320,000,000 | 1,705,000,000 | 1,655,000,000 | 1,648,000,000 | 1,501,000,000 | 1,381,000,000 | 1,407,000,000 | 1,374,000,000 | 1,386,000,000 | 1,371,000,000 | 1,405,000,000 | 1,367,000,000 | 1,358,000,000 | 1,401,000,000 | 1,373,000,000 | 1,287,000,000 | 1,273,000,000 | 1,329,000,000 | 1,345,000,000 | 1,328,000,000 | 1,417,000,000 | 878,000,000 | 875,000,000 | 787,000,000 | 771,000,000 | 842,000,000 | 834,000,000 | 830,000,000 | 840,000,000 | 978,000,000 | 989,000,000 | 1,012,000,000 | 917,000,000 | 1,737,000,000 | 1,706,000,000 | 1,660,000,000 | 1,602,000,000 | 1,494,000,000 | 1,067,000,000 | 980,000,000 | 1,009,000,000 | 889,000,000 | 805,000,000 | 838,000,000 | 861,000,000 | 1,277,000,000 | 1,368,000,000 | 1,405,000,000 | |||||||
total assets | 59,991,000,000 | 57,851,000,000 | 56,185,000,000 | 57,769,000,000 | 58,531,000,000 | 55,995,000,000 | 55,117,000,000 | 55,356,000,000 | 56,229,000,000 | 53,206,000,000 | 52,150,000,000 | 53,335,000,000 | 55,615,000,000 | 52,470,000,000 | 50,842,000,000 | 53,811,000,000 | 54,411,000,000 | 51,385,000,000 | 50,471,000,000 | 51,248,000,000 | 50,661,000,000 | 48,000,000,000 | 44,806,000,000 | 42,779,000,000 | 43,741,000,000 | 41,566,000,000 | 40,619,000,000 | 41,290,000,000 | 43,572,000,000 | 39,996,000,000 | 38,929,000,000 | 38,999,000,000 | 40,708,000,000 | 37,366,000,000 | 37,218,000,000 | 37,431,000,000 | 38,603,000,000 | 37,288,000,000 | 39,908,000,000 | 40,262,000,000 | 41,696,000,000 | 40,386,000,000 | 40,446,000,000 | 41,404,000,000 | 46,461,000,000 | 44,455,000,000 | 44,042,000,000 | 44,553,000,000 | 46,373,000,000 | 45,499,000,000 | 42,996,000,000 | 43,655,000,000 | 43,323,000,000 | 45,979,000,000 | 44,233,000,000 | 44,212,000,000 | 47,041,000,000 | 45,140,000,000 | 42,830,000,000 | 39,466,000,000 | 38,284,000,000 | 43,289,000,000 | 37,867,000,000 | 35,423,000,000 | 34,749,000,000 | 31,295,000,000 |
liabilities and shareholders’ investment | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accounts payable | 13,792,000,000 | 12,019,000,000 | 11,823,000,000 | 13,053,000,000 | 14,419,000,000 | 12,595,000,000 | 11,561,000,000 | 12,098,000,000 | 14,291,000,000 | 12,278,000,000 | 11,935,000,000 | 13,487,000,000 | 15,438,000,000 | 14,891,000,000 | 14,053,000,000 | 15,478,000,000 | 16,250,000,000 | 12,632,000,000 | 11,637,000,000 | 12,859,000,000 | 14,203,000,000 | 10,726,000,000 | 9,625,000,000 | 9,920,000,000 | 11,258,000,000 | 9,152,000,000 | 8,360,000,000 | 9,761,000,000 | 11,959,000,000 | 9,116,000,000 | 8,131,000,000 | 8,677,000,000 | 9,986,000,000 | 7,584,000,000 | 6,537,000,000 | 7,252,000,000 | 8,250,000,000 | 6,811,000,000 | 6,391,000,000 | 7,418,000,000 | 8,904,000,000 | 6,944,000,000 | 6,799,000,000 | 7,759,000,000 | 9,229,000,000 | 7,263,000,000 | 6,793,000,000 | 7,683,000,000 | 8,806,000,000 | 6,519,000,000 | 6,296,000,000 | 6,228,000,000 | 6,150,000,000 | 7,641,000,000 | 6,233,000,000 | 6,004,000,000 | 7,590,000,000 | 6,606,000,000 | 5,959,000,000 | 6,101,000,000 | 5,877,000,000 | 7,852,000,000 | 7,086,000,000 | 5,868,000,000 | 5,707,000,000 | 5,110,000,000 |
accrued and other current liabilities | 6,317,000,000 | 6,068,000,000 | 6,029,000,000 | 6,110,000,000 | 5,738,000,000 | 5,749,000,000 | 5,684,000,000 | 6,090,000,000 | 6,099,000,000 | 5,948,000,000 | 5,732,000,000 | 5,883,000,000 | 6,138,000,000 | 5,905,000,000 | 5,582,000,000 | 6,098,000,000 | 5,925,000,000 | 5,600,000,000 | 5,788,000,000 | 6,122,000,000 | 5,023,000,000 | 5,057,000,000 | 4,619,000,000 | 4,406,000,000 | 4,191,000,000 | 4,059,000,000 | 3,823,000,000 | 4,201,000,000 | 4,096,000,000 | 3,878,000,000 | 3,630,000,000 | 4,254,000,000 | 4,036,000,000 | 3,790,000,000 | 4,137,000,000 | 3,737,000,000 | 3,662,000,000 | 3,544,000,000 | 3,833,000,000 | 4,236,000,000 | 3,868,000,000 | 3,768,000,000 | 3,673,000,000 | 3,783,000,000 | 3,801,000,000 | 3,767,000,000 | 3,770,000,000 | 3,934,000,000 | 3,623,000,000 | 3,721,000,000 | 3,229,000,000 | 3,057,000,000 | 3,183,000,000 | 3,117,000,000 | 3,004,000,000 | 2,990,000,000 | 3,057,000,000 | 3,030,000,000 | 3,137,000,000 | 2,761,000,000 | 2,523,000,000 | 2,812,000,000 | ||||
current portion of long-term debt and other borrowings | 1,133,000,000 | 1,136,000,000 | 1,139,000,000 | 1,636,000,000 | 1,635,000,000 | 1,640,000,000 | 2,614,000,000 | 1,116,000,000 | 1,112,000,000 | 1,106,000,000 | 200,000,000 | 130,000,000 | 2,207,000,000 | 1,649,000,000 | 1,089,000,000 | 171,000,000 | 1,176,000,000 | 1,190,000,000 | 1,173,000,000 | 1,144,000,000 | 131,000,000 | 109,000,000 | 168,000,000 | 161,000,000 | 1,159,000,000 | 1,153,000,000 | 1,056,000,000 | 1,052,000,000 | 1,535,000,000 | 1,044,000,000 | 283,000,000 | 270,000,000 | 1,354,000,000 | 1,354,000,000 | 1,717,000,000 | 1,718,000,000 | 729,000,000 | 647,000,000 | 1,627,000,000 | 815,000,000 | 825,000,000 | 841,000,000 | 112,000,000 | 91,000,000 | 495,000,000 | 306,000,000 | 1,477,000,000 | 1,160,000,000 | 2,122,000,000 | |||||||||||||||||
total current liabilities | 21,242,000,000 | 19,223,000,000 | 18,991,000,000 | 20,799,000,000 | 21,792,000,000 | 19,984,000,000 | 19,859,000,000 | 19,304,000,000 | 21,502,000,000 | 19,332,000,000 | 17,867,000,000 | 19,500,000,000 | 23,783,000,000 | 22,445,000,000 | 20,724,000,000 | 21,747,000,000 | 23,351,000,000 | 19,422,000,000 | 18,598,000,000 | 20,125,000,000 | 19,357,000,000 | 15,892,000,000 | 14,412,000,000 | 14,487,000,000 | 16,608,000,000 | 14,364,000,000 | 13,239,000,000 | 15,014,000,000 | 17,590,000,000 | 14,038,000,000 | 12,044,000,000 | 13,201,000,000 | 15,376,000,000 | 12,729,000,000 | 12,392,000,000 | 12,708,000,000 | 12,642,000,000 | 11,003,000,000 | 12,019,000,000 | 12,622,000,000 | 13,858,000,000 | 11,613,000,000 | 10,648,000,000 | 11,736,000,000 | 13,525,000,000 | 11,336,000,000 | 12,040,000,000 | 12,777,000,000 | 14,551,000,000 | 11,620,000,000 | 10,838,000,000 | 10,100,000,000 | 10,197,000,000 | 12,398,000,000 | 9,810,000,000 | 10,249,000,000 | 13,496,000,000 | 11,359,000,000 | 10,959,000,000 | 11,022,000,000 | 10,097,000,000 | 13,563,000,000 | 11,921,000,000 | 9,660,000,000 | 9,708,000,000 | 7,173,000,000 |
long-term debt and other borrowings | 15,366,000,000 | 15,320,000,000 | 14,334,000,000 | 14,304,000,000 | 14,346,000,000 | 13,654,000,000 | 13,487,000,000 | 14,922,000,000 | 14,883,000,000 | 14,926,000,000 | 16,010,000,000 | 16,009,000,000 | 14,237,000,000 | 13,453,000,000 | 13,379,000,000 | 13,549,000,000 | 11,586,000,000 | 11,589,000,000 | 11,509,000,000 | 11,536,000,000 | 12,490,000,000 | 14,188,000,000 | 14,073,000,000 | 11,338,000,000 | 10,513,000,000 | 10,365,000,000 | 11,357,000,000 | 10,223,000,000 | 10,104,000,000 | 10,108,000,000 | 11,107,000,000 | 11,317,000,000 | 11,277,000,000 | 10,892,000,000 | 11,086,000,000 | 11,031,000,000 | 12,097,000,000 | 12,063,000,000 | 12,596,000,000 | 11,945,000,000 | 11,951,000,000 | 11,883,000,000 | 12,654,000,000 | 12,705,000,000 | 13,809,000,000 | 13,852,000,000 | 12,612,000,000 | 12,622,000,000 | 12,665,000,000 | |||||||||||||||||
noncurrent operating lease liabilities | 3,542,000,000 | 3,514,000,000 | 3,564,000,000 | 3,582,000,000 | 3,418,000,000 | 3,444,000,000 | 3,392,000,000 | 3,279,000,000 | 3,031,000,000 | 2,798,000,000 | 2,621,000,000 | 2,638,000,000 | 2,590,000,000 | 2,543,000,000 | 2,581,000,000 | 2,493,000,000 | 2,494,000,000 | 2,462,000,000 | 2,337,000,000 | 2,218,000,000 | 2,196,000,000 | 2,241,000,000 | 2,249,000,000 | 2,275,000,000 | 2,208,000,000 | 2,111,000,000 | 2,064,000,000 | 2,004,000,000 | 2,046,000,000 | 2,028,000,000 | 2,007,000,000 | |||||||||||||||||||||||||||||||||||
deferred income taxes | 2,279,000,000 | 2,413,000,000 | 2,338,000,000 | 2,303,000,000 | 2,419,000,000 | 2,495,000,000 | 2,543,000,000 | 2,480,000,000 | 2,447,000,000 | 2,334,000,000 | 2,289,000,000 | 2,196,000,000 | 2,240,000,000 | 1,862,000,000 | 1,752,000,000 | 1,566,000,000 | 1,246,000,000 | 1,146,000,000 | 1,169,000,000 | 990,000,000 | 1,171,000,000 | 1,121,000,000 | 1,122,000,000 | 1,122,000,000 | 1,215,000,000 | 1,082,000,000 | 1,034,000,000 | 972,000,000 | 970,000,000 | 828,000,000 | 744,000,000 | 713,000,000 | 944,000,000 | 784,000,000 | 869,000,000 | 861,000,000 | 920,000,000 | 754,000,000 | 841,000,000 | 823,000,000 | 1,316,000,000 | 1,319,000,000 | 1,359,000,000 | 1,321,000,000 | 1,279,000,000 | 1,317,000,000 | 1,381,000,000 | 1,433,000,000 | 1,466,000,000 | 969,000,000 | 916,000,000 | 740,000,000 | 916,000,000 | 804,000,000 | 494,000,000 | 487,000,000 | 589,000,000 | 534,000,000 | 493,000,000 | 408,000,000 | 430,000,000 | 421,000,000 | 714,000,000 | 768,000,000 | 804,000,000 | 973,000,000 |
other noncurrent liabilities | 2,061,000,000 | 1,961,000,000 | 2,011,000,000 | 2,115,000,000 | 2,067,000,000 | 1,989,000,000 | 1,996,000,000 | 1,939,000,000 | 1,852,000,000 | 1,826,000,000 | 1,758,000,000 | 1,760,000,000 | 1,746,000,000 | 1,575,000,000 | 1,632,000,000 | 1,629,000,000 | 1,931,000,000 | 1,906,000,000 | 1,899,000,000 | 1,939,000,000 | 2,128,000,000 | 1,980,000,000 | 1,781,000,000 | 1,724,000,000 | 1,652,000,000 | 1,808,000,000 | 1,808,000,000 | 1,780,000,000 | 1,782,000,000 | 1,827,000,000 | 1,869,000,000 | 2,059,000,000 | 1,963,000,000 | 1,845,000,000 | 1,832,000,000 | 1,860,000,000 | 1,857,000,000 | 1,872,000,000 | 1,889,000,000 | 1,897,000,000 | 1,279,000,000 | 1,353,000,000 | 1,404,000,000 | 1,452,000,000 | 1,475,000,000 | 1,517,000,000 | 1,523,000,000 | 1,490,000,000 | 1,535,000,000 | 1,644,000,000 | 1,596,000,000 | 1,810,000,000 | 1,819,000,000 | 1,911,000,000 | 1,886,000,000 | 1,843,000,000 | 1,932,000,000 | 1,858,000,000 | 1,891,000,000 | |||||||
total noncurrent liabilities | 23,248,000,000 | 23,208,000,000 | 22,247,000,000 | 22,304,000,000 | 22,250,000,000 | 21,582,000,000 | 21,418,000,000 | 22,620,000,000 | 22,213,000,000 | 21,884,000,000 | 22,678,000,000 | 22,603,000,000 | 20,813,000,000 | 19,433,000,000 | 19,344,000,000 | 19,237,000,000 | 17,257,000,000 | 17,103,000,000 | 16,914,000,000 | 16,683,000,000 | 17,985,000,000 | 19,530,000,000 | 19,225,000,000 | 16,459,000,000 | 15,588,000,000 | 15,366,000,000 | 16,263,000,000 | 14,979,000,000 | 14,902,000,000 | 14,791,000,000 | 15,727,000,000 | 14,089,000,000 | 14,195,000,000 | 13,539,000,000 | 13,805,000,000 | 13,770,000,000 | 14,892,000,000 | 14,708,000,000 | 15,344,000,000 | 14,683,000,000 | 14,582,000,000 | 14,831,000,000 | 15,624,000,000 | 15,671,000,000 | 16,563,000,000 | 16,686,000,000 | 15,516,000,000 | 15,545,000,000 | 15,666,000,000 | 18,773,000,000 | 16,928,000,000 | 18,287,000,000 | 17,529,000,000 | 18,610,000,000 | 19,821,000,000 | 19,844,000,000 | 19,965,000,000 | 20,324,000,000 | ||||||||
shareholders’ investment | 14,800,000,000 | 14,373,000,000 | 14,370,000,000 | 13,047,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
common stock | 38,000,000 | 38,000,000 | 38,000,000 | 38,000,000 | 38,000,000 | 38,000,000 | 39,000,000 | 38,000,000 | 38,000,000 | 38,000,000 | 38,000,000 | 38,000,000 | 38,000,000 | 38,000,000 | 39,000,000 | 39,000,000 | 40,000,000 | 41,000,000 | 41,000,000 | 42,000,000 | 42,000,000 | 42,000,000 | 42,000,000 | 42,000,000 | 42,000,000 | 43,000,000 | 43,000,000 | 43,000,000 | 43,000,000 | 44,000,000 | 44,000,000 | 45,000,000 | 45,000,000 | 46,000,000 | 46,000,000 | 46,000,000 | 47,000,000 | 48,000,000 | 49,000,000 | 50,000,000 | 52,000,000 | 53,000,000 | 53,000,000 | 53,000,000 | 53,000,000 | 53,000,000 | 53,000,000 | 53,000,000 | 53,000,000 | 56,000,000 | 57,000,000 | 60,000,000 | 62,000,000 | 63,000,000 | 63,000,000 | 63,000,000 | 63,000,000 | 63,000,000 | 66,000,000 | 71,000,000 | 71,000,000 | 70,000,000 | ||||
additional paid-in capital | 7,157,000,000 | 7,084,000,000 | 7,011,000,000 | 6,996,000,000 | 6,916,000,000 | 6,831,000,000 | 6,747,000,000 | 6,761,000,000 | 6,681,000,000 | 6,610,000,000 | 6,541,000,000 | 6,608,000,000 | 6,558,000,000 | 6,502,000,000 | 5,592,000,000 | 6,421,000,000 | 6,381,000,000 | 6,332,000,000 | 6,271,000,000 | 6,329,000,000 | 6,285,000,000 | 6,248,000,000 | 6,206,000,000 | 6,226,000,000 | 6,006,000,000 | 6,114,000,000 | 5,908,000,000 | 6,042,000,000 | 5,867,000,000 | 5,788,000,000 | 5,664,000,000 | 5,858,000,000 | 5,762,000,000 | 5,707,000,000 | 5,674,000,000 | 5,661,000,000 | 5,598,000,000 | 5,562,000,000 | 5,520,000,000 | 5,348,000,000 | 5,314,000,000 | 5,271,000,000 | 5,170,000,000 | 4,899,000,000 | 4,612,000,000 | 4,561,000,000 | 4,512,000,000 | 4,470,000,000 | 4,403,000,000 | 3,385,000,000 | 3,345,000,000 | 3,085,000,000 | 3,010,000,000 | 2,866,000,000 | 2,822,000,000 | 2,788,000,000 | 2,725,000,000 | 2,707,000,000 | 2,678,000,000 | |||||||
retained earnings | 8,777,000,000 | 8,766,000,000 | 8,360,000,000 | 8,090,000,000 | 8,009,000,000 | 8,030,000,000 | 7,519,000,000 | 7,093,000,000 | 6,225,000,000 | 5,767,000,000 | 5,448,000,000 | 5,005,000,000 | 4,631,000,000 | 4,421,000,000 | 5,495,000,000 | 6,920,000,000 | 8,069,000,000 | 9,200,000,000 | 9,372,000,000 | 8,825,000,000 | 7,789,000,000 | 7,121,000,000 | 5,775,000,000 | 6,433,000,000 | 6,270,000,000 | 6,461,000,000 | 5,958,000,000 | 6,017,000,000 | 5,884,000,000 | 6,058,000,000 | 6,187,000,000 | 6,553,000,000 | 5,940,000,000 | 5,961,000,000 | 5,927,000,000 | 5,884,000,000 | 6,031,000,000 | 6,579,000,000 | 7,593,000,000 | 8,188,000,000 | 8,359,000,000 | 9,099,000,000 | 9,441,000,000 | 9,644,000,000 | 12,631,000,000 | 12,611,000,000 | 12,743,000,000 | 12,599,000,000 | 12,353,000,000 | 12,213,000,000 | 12,398,000,000 | 12,690,000,000 | 13,098,000,000 | 12,559,000,000 | 12,266,000,000 | 11,821,000,000 | 10,967,000,000 | 10,861,000,000 | 11,789,000,000 | 13,451,000,000 | 13,386,000,000 | 13,630,000,000 | ||||
accumulated other comprehensive loss | -471,000,000 | -468,000,000 | -462,000,000 | -458,000,000 | -474,000,000 | -470,000,000 | -465,000,000 | -460,000,000 | -430,000,000 | -425,000,000 | -422,000,000 | -419,000,000 | -208,000,000 | -369,000,000 | -352,000,000 | -553,000,000 | -687,000,000 | -713,000,000 | -725,000,000 | -756,000,000 | -797,000,000 | -833,000,000 | -854,000,000 | -868,000,000 | -548,000,000 | -570,000,000 | -567,000,000 | -178,000,000 | -183,000,000 | |||||||||||||||||||||||||||||||||||||
total shareholders’ investment | 15,501,000,000 | 15,420,000,000 | 14,947,000,000 | 14,489,000,000 | 14,429,000,000 | 13,840,000,000 | 12,514,000,000 | 11,990,000,000 | 11,605,000,000 | 11,019,000,000 | 10,592,000,000 | 10,774,000,000 | 13,803,000,000 | 14,860,000,000 | 14,959,000,000 | 13,319,000,000 | 12,578,000,000 | 11,169,000,000 | 11,545,000,000 | 11,836,000,000 | 11,117,000,000 | 11,080,000,000 | 11,167,000,000 | 11,158,000,000 | 11,137,000,000 | 11,098,000,000 | 11,021,000,000 | 11,069,000,000 | 11,577,000,000 | 12,545,000,000 | 13,256,000,000 | 13,942,000,000 | 14,174,000,000 | 16,373,000,000 | 16,433,000,000 | 16,486,000,000 | 16,156,000,000 | 15,106,000,000 | 15,230,000,000 | 15,268,000,000 | 15,597,000,000 | 14,971,000,000 | 14,602,000,000 | 14,119,000,000 | 13,580,000,000 | 13,457,000,000 | 14,357,000,000 | 15,954,000,000 | 15,711,000,000 | 16,160,000,000 | ||||||||||||||||
total liabilities and shareholders’ investment | 59,991,000,000 | 57,851,000,000 | 56,185,000,000 | 58,531,000,000 | 55,995,000,000 | 55,117,000,000 | 56,229,000,000 | 53,206,000,000 | 52,150,000,000 | 55,615,000,000 | 52,470,000,000 | 50,842,000,000 | 54,411,000,000 | 51,385,000,000 | 50,471,000,000 | 50,661,000,000 | 48,000,000,000 | 44,806,000,000 | 43,741,000,000 | 41,566,000,000 | 40,619,000,000 | 43,572,000,000 | 39,996,000,000 | 38,929,000,000 | 40,708,000,000 | 37,366,000,000 | 37,218,000,000 | 38,603,000,000 | 37,288,000,000 | 39,908,000,000 | 41,696,000,000 | 40,386,000,000 | 40,446,000,000 | 46,461,000,000 | 44,455,000,000 | 44,042,000,000 | 46,373,000,000 | 45,499,000,000 | 42,996,000,000 | 43,655,000,000 | 43,323,000,000 | 45,979,000,000 | 44,233,000,000 | 44,212,000,000 | 47,041,000,000 | 45,140,000,000 | 42,830,000,000 | 39,466,000,000 | 38,284,000,000 | 43,289,000,000 | 37,867,000,000 | 35,423,000,000 | 34,749,000,000 | 31,295,000,000 | ||||||||||||
land | 6,735,000,000 | 6,666,000,000 | 6,645,000,000 | 6,544,000,000 | 6,547,000,000 | 6,520,000,000 | 6,504,000,000 | 6,493,000,000 | 6,231,000,000 | 6,214,000,000 | 6,161,000,000 | 6,164,000,000 | 6,164,000,000 | 6,146,000,000 | 6,148,000,000 | 6,146,000,000 | 6,141,000,000 | 6,063,000,000 | 6,027,000,000 | 6,034,000,000 | 6,036,000,000 | 6,040,000,000 | 6,054,000,000 | 6,061,000,000 | 6,064,000,000 | 6,069,000,000 | 6,074,000,000 | 6,090,000,000 | 6,095,000,000 | 6,087,000,000 | 6,089,000,000 | 6,105,000,000 | 6,106,000,000 | 6,106,000,000 | 6,111,000,000 | 6,120,000,000 | 6,125,000,000 | 6,118,000,000 | 6,120,000,000 | 6,135,000,000 | 6,127,000,000 | 6,202,000,000 | 6,202,000,000 | 6,238,000,000 | 6,234,000,000 | 6,241,000,000 | 5,999,000,000 | 5,989,000,000 | 5,845,000,000 | 5,803,000,000 | 5,754,000,000 | 5,726,000,000 | 5,775,000,000 | 5,727,000,000 | 5,687,000,000 | 5,618,000,000 | 5,239,000,000 | 5,061,000,000 | 5,387,000,000 | |||||||
buildings and improvements | 38,752,000,000 | 38,666,000,000 | 38,324,000,000 | 37,587,000,000 | 37,066,000,000 | 36,627,000,000 | 35,889,000,000 | 35,198,000,000 | 34,746,000,000 | 34,279,000,000 | 33,694,000,000 | 33,300,000,000 | 32,985,000,000 | 32,478,000,000 | 32,133,000,000 | 31,710,000,000 | 31,557,000,000 | 31,398,000,000 | 30,946,000,000 | 30,756,000,000 | 30,603,000,000 | 30,467,000,000 | 29,908,000,000 | 29,573,000,000 | 29,240,000,000 | 29,090,000,000 | 28,629,000,000 | 28,363,000,000 | 28,396,000,000 | 28,310,000,000 | 28,041,000,000 | 27,740,000,000 | 27,611,000,000 | 27,518,000,000 | 27,315,000,000 | 27,198,000,000 | 27,059,000,000 | 26,912,000,000 | 26,726,000,000 | 26,636,000,000 | 26,614,000,000 | 30,906,000,000 | 30,782,000,000 | 30,446,000,000 | 30,356,000,000 | 30,257,000,000 | 26,092,000,000 | 23,197,000,000 | 22,568,000,000 | 22,332,000,000 | 22,250,000,000 | 21,530,000,000 | 20,994,000,000 | 20,454,000,000 | 19,511,000,000 | 18,817,000,000 | 16,483,000,000 | 16,168,000,000 | 17,211,000,000 | |||||||
fixtures and equipment | 8,917,000,000 | 8,840,000,000 | 8,690,000,000 | 8,341,000,000 | 8,765,000,000 | 8,490,000,000 | 7,936,000,000 | 7,473,000,000 | 7,439,000,000 | 7,184,000,000 | 6,744,000,000 | 6,459,000,000 | 6,407,000,000 | 6,144,000,000 | 5,892,000,000 | 5,496,000,000 | 5,914,000,000 | 5,843,000,000 | 5,665,000,000 | 5,486,000,000 | 6,083,000,000 | 6,032,000,000 | 5,622,000,000 | 5,401,000,000 | 5,912,000,000 | 5,784,000,000 | 5,356,000,000 | 5,135,000,000 | 5,623,000,000 | 5,548,000,000 | 5,361,000,000 | 5,177,000,000 | 5,503,000,000 | 5,467,000,000 | 5,282,000,000 | 5,112,000,000 | 5,347,000,000 | 5,283,000,000 | 5,145,000,000 | 5,011,000,000 | 5,346,000,000 | 5,664,000,000 | 5,466,000,000 | 5,305,000,000 | 5,583,000,000 | 5,535,000,000 | 4,906,000,000 | 4,691,000,000 | 4,602,000,000 | 4,597,000,000 | 4,732,000,000 | 4,481,000,000 | 4,295,000,000 | 4,212,000,000 | 4,031,000,000 | 3,959,000,000 | 3,516,000,000 | 3,476,000,000 | 3,659,000,000 | |||||||
computer hardware and software | 3,710,000,000 | 3,549,000,000 | 3,437,000,000 | 3,265,000,000 | 3,428,000,000 | 3,312,000,000 | 3,178,000,000 | 3,067,000,000 | 3,039,000,000 | 2,899,000,000 | 2,684,000,000 | 2,588,000,000 | 2,505,000,000 | 2,447,000,000 | 2,260,000,000 | 2,256,000,000 | 2,765,000,000 | 2,706,000,000 | 2,631,000,000 | 2,597,000,000 | 2,692,000,000 | 2,636,000,000 | 2,627,000,000 | 2,553,000,000 | 2,544,000,000 | 2,660,000,000 | 2,575,000,000 | 2,511,000,000 | 2,645,000,000 | 2,658,000,000 | 2,518,000,000 | 2,546,000,000 | 2,651,000,000 | 2,538,000,000 | 2,504,000,000 | 2,437,000,000 | 2,617,000,000 | 2,652,000,000 | 2,550,000,000 | 2,395,000,000 | 2,553,000,000 | 2,847,000,000 | 2,683,000,000 | 2,521,000,000 | 2,764,000,000 | 2,644,000,000 | 2,392,000,000 | 2,270,000,000 | 2,432,000,000 | 2,428,000,000 | 2,599,000,000 | 2,540,000,000 | 2,504,000,000 | 2,610,000,000 | 2,498,000,000 | 2,337,000,000 | 2,209,000,000 | 2,078,000,000 | 2,361,000,000 | |||||||
construction-in-progress | 1,185,000,000 | 758,000,000 | 830,000,000 | 1,538,000,000 | 1,703,000,000 | 2,000,000,000 | 2,641,000,000 | 2,822,000,000 | 2,688,000,000 | 2,358,000,000 | 2,245,000,000 | 1,444,000,000 | 1,257,000,000 | 1,302,000,000 | 944,000,000 | 973,000,000 | 780,000,000 | 518,000,000 | 811,000,000 | 803,000,000 | 533,000,000 | 298,000,000 | 667,000,000 | 574,000,000 | 460,000,000 | 384,000,000 | 685,000,000 | 639,000,000 | 440,000,000 | 389,000,000 | 423,000,000 | 379,000,000 | 200,000,000 | 219,000,000 | 232,000,000 | 242,000,000 | 315,000,000 | 428,000,000 | 494,000,000 | 576,000,000 | 424,000,000 | 454,000,000 | 735,000,000 | 1,012,000,000 | 843,000,000 | 958,000,000 | 571,000,000 | 837,000,000 | 772,000,000 | 497,000,000 | 291,000,000 | 978,000,000 | 1,427,000,000 | 1,320,000,000 | 1,851,000,000 | 2,012,000,000 | 2,848,000,000 | 2,450,000,000 | 2,524,000,000 | |||||||
accumulated depreciation | -26,277,000,000 | -25,548,000,000 | -24,851,000,000 | -24,161,000,000 | -24,413,000,000 | -23,781,000,000 | -23,201,000,000 | -22,657,000,000 | -22,631,000,000 | -22,013,000,000 | -21,708,000,000 | -21,285,000,000 | -21,137,000,000 | -20,602,000,000 | -20,133,000,000 | -19,777,000,000 | -20,278,000,000 | -19,755,000,000 | -19,341,000,000 | -19,087,000,000 | -19,664,000,000 | -11,587,000,000 | -11,336,000,000 | -10,818,000,000 | -7,268,000,000 | -6,973,000,000 | ||||||||||||||||||||||||||||||||||||||||
liabilities and shareholders' investment | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
shareholders' investment | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total shareholders' investment | 14,666,000,000 | 13,432,000,000 | 11,232,000,000 | 12,827,000,000 | 14,440,000,000 | 11,833,000,000 | 11,297,000,000 | 11,709,000,000 | 10,953,000,000 | 12,957,000,000 | 13,997,000,000 | 16,231,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
total liabilities and shareholders' investment | 57,769,000,000 | 55,356,000,000 | 53,335,000,000 | 53,811,000,000 | 51,248,000,000 | 42,779,000,000 | 41,290,000,000 | 38,999,000,000 | 37,431,000,000 | 40,262,000,000 | 41,404,000,000 | 44,553,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
consolidated statements of cash flows | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
operating activities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net earnings | 795,000,000 | 2,934,000,000 | 1,833,000,000 | 1,353,000,000 | 681,000,000 | 1,920,000,000 | 1,312,000,000 | 632,000,000 | 1,937,000,000 | 1,388,000,000 | 635,000,000 | 1,004,000,000 | 653,000,000 | 418,000,000 | 1,971,000,000 | 1,451,000,000 | 1,552,000,000 | 1,116,000,000 | 522,000,000 | 1,605,000,000 | 1,237,000,000 | 602,000,000 | 1,337,000,000 | 651,000,000 | 1,821,000,000 | |||||||||||||||||||||||||||||||||||||||||
earnings from discontinued operations, net of tax | 3,000,000 | 6,000,000 | 7,000,000 | 4,000,000 | 4,000,000 | 73,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net earnings from continuing operations | 792,000,000 | 2,928,000,000 | 1,826,000,000 | 1,349,000,000 | 677,000,000 | 2,669,000,000 | 1,847,000,000 | 1,239,000,000 | 614,000,000 | 3,321,000,000 | 1,900,000,000 | 1,424,000,000 | 651,000,000 | 2,449,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net earnings to cash from operations | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
depreciation and amortization | 644,000,000 | 2,445,000,000 | 1,784,000,000 | 1,151,000,000 | 573,000,000 | 2,298,000,000 | 1,686,000,000 | 1,116,000,000 | 546,000,000 | 2,213,000,000 | 1,651,000,000 | 1,090,000,000 | 540,000,000 | 2,129,000,000 | 1,791,000,000 | 1,186,000,000 | 579,000,000 | 2,223,000,000 | 1,648,000,000 | 1,022,000,000 | 1,012,000,000 | 516,000,000 | 1,487,000,000 | 950,000,000 | 472,000,000 | 1,352,000,000 | 884,000,000 | 435,000,000 | 796,000,000 | 392,000,000 | 12,251,094,000,000 | |||||||||||||||||||||||||||||||||||
share-based compensation expense | 46,000,000 | 112,000,000 | 81,000,000 | 43,000,000 | 16,000,000 | 113,000,000 | 85,000,000 | 67,000,000 | 35,000,000 | 115,000,000 | 84,000,000 | 54,000,000 | 26,000,000 | 71,000,000 | 64,000,000 | 42,000,000 | 21,000,000 | 110,000,000 | 81,000,000 | 44,000,000 | 52,000,000 | 25,000,000 | 72,000,000 | 48,000,000 | 24,000,000 | 43,000,000 | 37,000,000 | 16,000,000 | 42,000,000 | 18,000,000 | 5,964,000,000 | |||||||||||||||||||||||||||||||||||
noncash losses / (gains) and other | 10,000,000 | 189,000,000 | 81,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
changes in operating accounts | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other assets | 17,000,000 | 74,000,000 | 22,000,000 | 36,000,000 | 140,000,000 | 107,000,000 | 227,000,000 | 95,000,000 | 156,000,000 | 138,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accrued and other liabilities | 450,000,000 | 2,000,000 | 384,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash from operating activities—continuing operations | 323,000,000 | 6,849,000,000 | 4,414,000,000 | 2,866,000,000 | 1,255,000,000 | 5,329,000,000 | 2,770,000,000 | 1,396,000,000 | 253,000,000 | 5,140,000,000 | 2,956,000,000 | 1,966,000,000 | 717,000,000 | 5,131,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
cash from operating activities—discontinued operations | 74,000,000 | 75,000,000 | 57,000,000 | 111,000,000 | 92,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash from operations | 323,000,000 | 6,923,000,000 | 4,489,000,000 | 2,923,000,000 | 1,303,000,000 | 5,436,000,000 | 2,881,000,000 | 1,488,000,000 | 247,000,000 | 5,844,000,000 | 3,760,000,000 | 2,789,000,000 | 1,551,000,000 | 4,439,000,000 | 2,050,000,000 | 1,514,000,000 | 520,000,000 | 6,520,000,000 | 4,753,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
investing activities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
expenditures for property and equipment | -2,379,000,000 | -991,000,000 | -407,000,000 | -2,363,000,000 | -1,183,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from disposal of property and equipment | 5,000,000 | 31,000,000 | 27,000,000 | 22,000,000 | 13,000,000 | 46,000,000 | 23,000,000 | 14,000,000 | 3,000,000 | 28,000,000 | 21,000,000 | 13,000,000 | 6,000,000 | 95,000,000 | 84,000,000 | 44,000,000 | 5,000,000 | 86,000,000 | 73,000,000 | 2,000,000 | 32,000,000 | 12,000,000 | 25,000,000 | 24,000,000 | 6,000,000 | 26,000,000 | 17,000,000 | 2,000,000 | 16,000,000 | 4,000,000 | 5,320,000,000 | |||||||||||||||||||||||||||||||||||
other investments | 1,000,000 | 28,000,000 | 23,000,000 | 1,000,000 | 3,000,000 | 24,000,000 | 12,000,000 | 38,000,000 | 21,000,000 | 106,000,000 | 88,000,000 | 46,000,000 | 18,000,000 | 130,000,000 | 111,000,000 | -19,000,000 | -20,000,000 | -18,000,000 | 10,000,000 | 4,000,000 | -69,000,000 | |||||||||||||||||||||||||||||||||||||||||||||
cash required for investing activities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
financing activities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
additions to long-term debt | 994,000,000 | 739,000,000 | 739,000,000 | 1,977,000,000 | 1,977,000,000 | 1,979,000,000 | 1,979,000,000 | 1,993,000,000 | 1,993,000,000 | 1,993,000,000 | 1,000,000,000 | 997,000,000 | 3,557,000,000 | 3,557,000,000 | 1,900,000,000 | 1,900,000,000 | 36,501,250,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
reductions of long-term debt | -238,000,000 | -1,339,000,000 | -1,170,000,000 | -1,253,000,000 | -501,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
dividends paid | -346,000,000 | -252,000,000 | -126,000,000 | -205,000,000 | -103,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
repurchase of stock | -1,493,000,000 | -1,285,000,000 | -378,000,000 | -940,000,000 | -500,000,000 | -6,600,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accelerated share repurchase pending final settlement | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
stock option exercises | 12,000,000 | 108,000,000 | 25,000,000 | 9,000,000 | 4,000,000 | 221,000,000 | 166,000,000 | 151,000,000 | 140,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash required for financing activities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net decrease in cash and cash equivalents | -822,000,000 | -258,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents at beginning of period | 1,556,000,000 | 2,512,000,000 | 2,512,000,000 | 2,512,000,000 | 2,512,000,000 | 4,046,000,000 | 4,046,000,000 | 4,046,000,000 | 4,046,000,000 | 2,210,000,000 | 2,210,000,000 | 2,210,000,000 | 2,210,000,000 | 695,000,000 | 695,000,000 | 695,000,000 | 695,000,000 | 784,000,000 | 784,000,000 | 1,712,000,000 | 2,200,000,000 | 2,200,000,000 | 864,000,000 | 864,000,000 | 864,000,000 | 2,450,000,000 | 2,450,000,000 | 2,450,000,000 | 813,000,000 | 813,000,000 | 8,131,648,000,000 | |||||||||||||||||||||||||||||||||||
cash and cash equivalents at end of period | 1,173,000,000 | 2,643,000,000 | 2,725,000,000 | 2,291,000,000 | 2,680,000,000 | 2,512,000,000 | 1,231,000,000 | 1,480,000,000 | 4,036,000,000 | 4,046,000,000 | 1,977,000,000 | 2,742,000,000 | 2,768,000,000 | 2,210,000,000 | 780,000,000 | 803,000,000 | 715,000,000 | 695,000,000 | 706,000,000 | 864,000,000 | 957,000,000 | 1,371,000,000 | 918,000,000 | 1,527,000,000 | 620,000,000 | 555,000,000 | 969,000,000 | 627,000,000 | ||||||||||||||||||||||||||||||||||||||
supplemental information | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
leased assets obtained in exchange for new finance lease liabilities | 126,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
leased assets obtained in exchange for new operating lease liabilities | 107,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net earnings to cash from operations: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
gain on sale | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
loss on debt extinguishment | 123,000,000 | 123,000,000 | 422,000,000 | 422,000,000 | 422,000,000 | 261,000,000 | 285,000,000 | 285,000,000 | 285,000,000 | 445,000,000 | 445,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
noncash (gains) / losses and other | 192,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
changes in operating accounts: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from sale of businesses | 1,875,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash paid for acquisitions, net of cash assumed | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash (required for) / provided by investing activities—continuing operations | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash from investing activities—discontinued operations | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash (required for) / provided by investing activities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net increase / (decrease) in cash and cash equivalents | 131,000,000 | 213,000,000 | 168,000,000 | 1,836,000,000 | 93,000,000 | 507,000,000 | 156,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
interest paid, net of capitalized interest | 678,000,000 | 999,000,000 | 604,000,000 | 871,000,000 | 1,120,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
income taxes paid / | 934,000,000 | 1,514,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
property and equipment acquired through capital lease obligations | 173,000,000 | 238,000,000 | 126,000,000 | 88,000,000 | 211,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
assets of discontinued operations | 6,000,000 | 19,000,000 | 26,000,000 | 69,000,000 | 354,000,000 | 322,000,000 | 451,000,000 | 97,000,000 | 148,000,000 | 1,333,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
noncurrent assets of discontinued operations | 9,000,000 | 10,000,000 | 10,000,000 | 12,000,000 | 17,000,000 | 17,000,000 | 81,000,000 | 75,000,000 | 42,000,000 | 456,000,000 | 458,000,000 | 442,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
liabilities of discontinued operations | 11,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 168,000,000 | 153,000,000 | 261,000,000 | 60,000,000 | 64,000,000 | 103,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
change in commercial paper | 89,000,000 | 305,000,000 | 109,000,000 | 306,000,000 | 107,000,000 | 1,382,000,000 | 902,000,000 | 578,955,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
prepayment of accelerated share repurchase | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
noncurrent liabilities of discontinued operations | 18,000,000 | 18,000,000 | 18,000,000 | 18,000,000 | 19,000,000 | 18,000,000 | 18,000,000 | 36,000,000 | 276,000,000 | 207,000,000 | 193,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents, including short term investments of 1,135, 1,110 and 2,931 | 2,680,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash from / (required for) operating activities—discontinued operations | 48,000,000 | 107,000,000 | 704,000,000 | 804,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash (required for) / provided by financing activities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents, including short-term investments of 1,110 and 3,008 | 2,512,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
pension and other benefit liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
currency translation adjustment and cash flow hedges | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net earnings / | 2,737,000,000 | 3,363,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
earnings / (losses) from discontinued operations, net of tax | 68,000,000 | 73,000,000 | 18,000,000 | 42,000,000 | 37,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accounts payable and accrued liabilities | 103,000,000 | 534,000,000 | 1,458,000,000 | 777,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash from / (required for) investing activities—discontinued operations | 19,000,000 | 19,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net (decrease) / increase in cash and cash equivalents | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents, including short term investments of 0, 3,008 and 1,154 | 1,231,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
current assets of discontinued operations | 62,000,000 | 83,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
current liabilities of discontinued operations | 1,000,000 | 1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
noncash losses and other | 12,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from sale of business | 8,000,000 | 8,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash required for investing activities—continuing operations | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents, including short term investments of 303, 3,008 and 1,985 | 1,480,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents, including short term investments of 2,931, 3,008 and 2,073 | 4,036,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash (required for) / provided by operating activities—discontinued operations | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash from / (required for) financing activities | 22,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents, including short-term investments of 3,008 and 1,520 | 4,046,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accounts receivable originated at target | 157,000,000 | 157,000,000 | 143,000,000 | 241,000,000 | 201,000,000 | 190,000,000 | 154,000,000 | 160,000,000 | 21,000,000 | -64,000,000 | 48,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds on sale of accounts receivable originated at target | 2,703,000,000 | 2,703,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
change in accounts receivable originated at third parties | 121,000,000 | 121,000,000 | 261,000,000 | 254,000,000 | 238,000,000 | 42,000,000 | 175,000,000 | 23,000,000 | -321,000,000 | 53,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from sale of accounts receivable originated at third parties | 3,002,000,000 | 3,002,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash from / (required for) investing activities—continuing operations | 489,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash from / (required for) investing activities | 508,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
stock option exercises and related tax benefit | 369,000,000 | 344,000,000 | 331,000,000 | 257,000,000 | 373,000,000 | 88,000,000 | 55,000,000 | 26,000,000 | 456,000,000 | 395,000,000 | 34,000,000 | 116,000,000 | 69,000,000 | 31,000,000 | 9,000,000 | 2,000,000 | 34,000,000 | 21,000,000 | 13,000,000 | 195,000,000 | 36,000,000 | 204,126,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
effect of exchange rate changes on cash and cash equivalents | 1,000,000 | 3,000,000 | 9,000,000 | 26,000,000 | 4,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
income taxes (refunded) / paid | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents, including short term investments of 1,154, 1,520 and 4 | 1,977,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents, including short term investments of 1,985, 1,520 and 3 | 2,742,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
losses from discontinued operations, net of tax | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
noncash (gains)/losses and other | 32,000,000 | 82,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash provided by/ (required for) operating activities—discontinued operations | 823,000,000 | 834,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash provided by/ (required for) investing activities—discontinued operations | 19,000,000 | 19,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net increase in cash and cash equivalents | 532,000,000 | 558,000,000 | 108,000,000 | 20,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents, including short term investments of 2,073, 1,520 and 3 | 2,768,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash (required for)/ provided by financing activities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents, including short-term investments of 1,520 and 3 | 2,210,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net (loss)/earnings | -1,636,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
gain on receivables transaction | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
noncash losses/ | 40,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash required for operating activities—discontinued operations | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash (required for)/ provided by investing activities—continuing operations | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash required for investing activities—discontinued operations | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
reductions of short-term debt | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other | 20,000,000 | 160,000,000 | 160,000,000 | 160,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net increase/(decrease) in cash and cash equivalents | 1,515,000,000 | 85,000,000 | -660,000,000 | -622,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
income taxes paid | 1,251,000,000 | 1,386,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
bad debt expense | 41,000,000 | 41,000,000 | 27,000,000 | 335,000,000 | 197,000,000 | 900,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash (required for)/provided by investing activities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash (required for) financing activities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents, including short-term investments of 3, 3 and 249 | 803,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents, including short-term investments of 3, 3 and 1,112 | 715,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash provided by/(required for) financing activities | 29,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents, including short-term investments of 3 and 130 | 695,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
credit card receivables, held for sale | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
additions to short-term debt | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
noncash financing activities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents, including short-term investments of 3, 130 and 800 | 706,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
noncash losses/(gains) and other | 3,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash provided by/(required for) investing activities | 311,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net (decrease)/increase in cash and cash equivalents | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents, including marketable securities of 116, 1,129 and 972 | 890,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
credit card receivables, net of allowance of 480, 690 and 851 | 5,722,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
unsecured debt and other borrowings | 1,130,000,000 | 1,124,000,000 | 782,000,000 | 797,000,000 | 577,000,000 | 517,000,000 | 1,255,000,000 | 2,849,000,000 | 1,723,000,000 | 1,863,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
nonrecourse debt collateralized by credit card receivables | 250,000,000 | 189,000,000 | 33,000,000 | 67,000,000 | 1,063,000,000 | 56,000,000 | 5,502,000,000 | 5,478,000,000 | 5,467,000,000 | 1,900,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
common shares outstanding | 675,200,000 | 689,000,000 | 722,600,000 | 738,900,000 | 752,200,000 | 751,900,000 | 752,000,000 | 752,800,000 | 755,000,000 | 788,600,000 | 847,800,000 | 851,400,000 | 845,000,000 | 858,900,000 | 857,800,000 | 868,300,000 | 883,400,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
reconciliation to cash flow | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
non-cash (gains)/losses and other | 62,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flow provided by operations | 2,336,000,000 | 1,828,000,000 | 1,158,000,000 | 3,027,000,000 | 2,051,000,000 | 999,000,000 | 1,780,000,000 | 1,754,000,000 | 740,000,000 | 1,203,000,000 | 462,000,000 | 15,861,712,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flow required for investing activities | -2,135,000,000 | -725,000,000 | -175,000,000 | -2,737,000,000 | -1,131,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flow required for financing activities | -1,023,000,000 | -1,763,000,000 | -1,605,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents, including marketable securities of 872, 1,129 and 1,015 | 1,424,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
credit card receivables, net of allowance of 565, 690 and 930 | 5,721,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
see accompanying notes to consolidated financial statements. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents, including marketable securities of 972, 1,617 and 385 | 1,540,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
credit card receivables, net of allowance of 851, 1,016 and 1,004 | 6,137,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
loss/impairment of property and equipment | 10,000,000 | 8,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other non-cash items affecting earnings | 75,000,000 | 22,000,000 | 44,000,000 | 28,000,000 | 10,000,000 | 165,000,000 | 106,000,000 | 23,000,000 | 61,000,000 | 19,000,000 | 8,233,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
changes in operating accounts providing / (requiring) cash | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents, including marketable securities of 1,015, 1,617 and 849 | 1,578,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
credit card receivables, net of allowance of 930, 1,016 and 1,005 | 6,330,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
changes in operating accounts providing/(requiring) cash | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents, including marketable securities of 273, 302 and 397 | 864,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
credit card receivables, net of allowance of 1,025, 1,010 and 765 | 7,023,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
loss on disposal of property and equipment | 85,000,000 | 74,000,000 | 18,000,000 | 33,000,000 | 24,000,000 | 7,000,000 | 35,000,000 | 14,000,000 | 3,458,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
reductions of short-term notes payable | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flow (required for)/provided by financing activities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents, including marketable securities of 385, 302 and 904 | 957,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
credit card receivables, net of allowance of 1,004, 1,010 and 661 | 7,288,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
bad debt provision | 600,000,000 | 296,000,000 | 751,000,000 | 437,000,000 | 181,000,000 | 182,000,000 | 86,000,000 | 311,278,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents, including marketable securities of 849, 302 and 3 | 1,371,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
credit card receivables, net of allowance of 1,005, 1,010 and 590 | 7,452,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
credit card receivables, net of allowance of 765, 570 and 532 | 7,999,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
additions to short-term notes payable | 1,000,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flow provided by financing activities | 51,000,000 | 2,760,397,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
credit card receivables, net of allowance of 661, 570 and 509 | 7,980,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flow (required for) / provided by financing activities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
credit card receivables, net of allowance of 590, 570 and 504 | 7,830,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accounts receivable | 6,397,000,000 | 6,006,000,000 | 7,120,000,000 | 5,634,000,000 | 5,540,000,000 | 5,368,000,000 | 4,857,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other non-current assets | 1,307,000,000 | 1,315,000,000 | 1,349,000,000 | 1,593,000,000 | 1,577,000,000 | 1,579,000,000 | 1,512,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
current portion of long-term debt and notes payable | 2,160,000,000 | 1,322,000,000 | 2,899,000,000 | 2,253,000,000 | 1,257,000,000 | 1,254,000,000 | 4,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
long-term debt | 10,152,000,000 | 10,151,000,000 | 11,239,000,000 | 9,123,000,000 | 9,351,000,000 | 8,596,000,000 | 9,005,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other non-current liabilities | 1,930,000,000 | 1,895,000,000 | 1,906,000,000 | 1,309,000,000 | 1,271,000,000 | 1,271,000,000 | 1,097,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
additional paid-in-capital | 2,610,000,000 | 2,437,000,000 | 2,636,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
reconciliation of net earnings to operating cash flows | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in notes payable | 1,586,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flow provided by / (required for) financing activities | 1,276,000,000 | 825,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
income taxes payable | 375,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other current liabilities | 2,582,000,000 | 2,535,000,000 | 2,747,000,000 | 2,059,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
consolidated statements of shareholders’ investment | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
january 28, 2006 | 874,100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
consolidated net earnings | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other comprehensive income | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total comprehensive income | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
dividends declared | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
stock options and awards | 800,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
april 29, 2006 | 868,300,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
non-current assets of discontinued operations | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
non-current liabilities of discontinued operations | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
consolidated statements | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
of cash flows |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2025-11-01 | 2025-08-02 | 2025-05-03 | 2025-02-01 | 2024-11-02 | 2024-08-03 | 2024-05-04 | 2024-02-01 | 2023-10-28 | 2023-07-29 | 2023-04-29 | 2023-01-28 | 2022-10-29 | 2022-07-30 | 2022-04-30 | 2022-01-28 | 2021-10-30 | 2021-07-31 | 2021-05-01 | 2021-01-29 | 2020-10-31 | 2020-08-01 | 2020-05-02 | 2020-01-30 | 2019-11-02 | 2019-08-03 | 2019-05-04 | 2019-02-01 | 2018-11-03 | 2018-08-04 | 2018-05-05 | 2018-02-02 | 2017-10-28 | 2017-07-29 | 2017-04-29 | 2017-01-28 | 2016-10-29 | 2016-07-30 | 2016-04-30 | 2016-01-28 | 2015-10-31 | 2015-08-01 | 2015-05-02 | 2015-01-30 | 2014-11-01 | 2014-08-02 | 2014-05-03 | 2014-01-31 | 2013-11-02 | 2013-08-03 | 2013-05-04 | 2013-02-01 | 2012-10-27 | 2012-07-28 | 2012-04-28 | 2011-10-29 | 2011-07-30 | 2011-04-30 | 2010-10-30 | 2010-07-31 | 2010-05-01 | 2009-10-31 | 2009-08-01 | 2009-05-02 | 2008-11-01 | 2008-08-02 | 2008-05-03 | 2007-11-03 | 2007-08-04 | 2007-05-05 | 2006-10-28 | 2006-07-29 | 2006-04-29 | 2005-10-29 | 2005-07-30 | 2005-04-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
operating activities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net earnings | 689,000,000 | 935,000,000 | 1,036,000,000 | 1,103,000,000 | 854,000,000 | 1,192,000,000 | 942,000,000 | 1,335,000,000 | 971,000,000 | 835,000,000 | 950,000,000 | 876,000,000 | 712,000,000 | 183,000,000 | 1,009,000,000 | -2,622,000,000 | 1,488,000,000 | 1,817,000,000 | 2,097,000,000 | 3,958,000,000 | 1,014,000,000 | 1,690,000,000 | 284,000,000 | 1,921,000,000 | 714,000,000 | 938,000,000 | 795,000,000 | 1,142,000,000 | 622,000,000 | 799,000,000 | 718,000,000 | 1,104,000,000 | 480,000,000 | 672,000,000 | 681,000,000 | 608,000,000 | 680,000,000 | 632,000,000 | 549,000,000 | 753,000,000 | 635,000,000 | 351,000,000 | 235,000,000 | 418,000,000 | 341,000,000 | 612,000,000 | 498,000,000 | -67,000,000 | 637,000,000 | 704,000,000 | 697,000,000 | 555,000,000 | 704,000,000 | 689,000,000 | 535,000,000 | 679,000,000 | 671,000,000 | 436,000,000 | 594,000,000 | 522,000,000 | 368,000,000 | 635,000,000 | 602,000,000 | 484,000,000 | 686,000,000 | 651,000,000 | 506,000,000 | 608,000,000 | 554,000,000 | 435,000,000 | 540,000,000 | 494,000,000 | ||||
adjustments to reconcile net earnings to cash from operating activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
depreciation and amortization | 773,000,000 | 771,000,000 | 787,000,000 | 766,000,000 | 754,000,000 | 743,000,000 | 718,000,000 | 909,000,000 | 722,000,000 | 683,000,000 | 667,000,000 | 696,000,000 | 675,000,000 | 650,000,000 | 679,000,000 | 748,000,000 | 652,000,000 | 633,000,000 | 667,000,000 | 794,000,000 | 603,000,000 | 604,000,000 | 641,000,000 | 580,000,000 | 638,000,000 | 623,000,000 | 644,000,000 | 778,000,000 | 592,000,000 | 603,000,000 | 631,000,000 | 690,000,000 | 633,000,000 | 578,000,000 | 573,000,000 | 612,000,000 | 570,000,000 | 570,000,000 | 546,000,000 | 647,000,000 | 561,000,000 | 550,000,000 | 540,000,000 | 422,000,000 | 605,000,000 | 607,000,000 | 579,000,000 | 481,000,000 | 569,000,000 | 543,000,000 | 536,000,000 | 620,000,000 | 543,000,000 | 531,000,000 | 529,000,000 | 546,000,000 | 510,000,000 | 512,000,000 | 533,000,000 | 496,000,000 | 516,000,000 | 537,000,000 | 478,000,000 | 472,000,000 | 468,000,000 | 449,000,000 | 435,000,000 | 429,000,000 | 404,000,000 | 392,000,000 | 390,000,000 | 370,000,000 | 334,000,000 | 354,000,000 | 346,000,000 | 340,000,000 |
share-based compensation expense | 64,000,000 | 64,000,000 | 69,000,000 | 75,000,000 | 80,000,000 | 77,000,000 | 72,000,000 | 128,000,000 | 69,000,000 | 64,000,000 | 43,000,000 | 43,000,000 | 55,000,000 | 39,000,000 | 83,000,000 | 33,000,000 | 49,000,000 | 59,000,000 | 79,000,000 | 67,000,000 | 57,000,000 | 55,000,000 | 49,000,000 | 84,000,000 | 30,000,000 | 40,000,000 | 46,000,000 | 41,000,000 | 35,000,000 | 29,000,000 | 42,000,000 | 51,000,000 | 38,000,000 | 27,000,000 | 16,000,000 | 28,000,000 | 18,000,000 | 32,000,000 | 35,000,000 | 29,000,000 | 30,000,000 | 28,000,000 | 26,000,000 | 51,000,000 | 22,000,000 | 21,000,000 | 21,000,000 | -10,000,000 | 26,000,000 | 26,000,000 | 29,000,000 | 36,000,000 | 26,000,000 | 23,000,000 | 25,000,000 | 17,000,000 | 23,000,000 | 21,000,000 | 25,000,000 | 27,000,000 | 25,000,000 | 24,000,000 | 24,000,000 | 24,000,000 | 6,000,000 | 21,000,000 | 16,000,000 | 17,000,000 | 24,000,000 | 18,000,000 | 26,000,000 | 18,000,000 | 20,000,000 | |||
deferred income taxes | -133,000,000 | 76,000,000 | 36,000,000 | -122,000,000 | -74,000,000 | -48,000,000 | 64,000,000 | -432,000,000 | 111,000,000 | 46,000,000 | 95,000,000 | 34,000,000 | 321,000,000 | 112,000,000 | 115,000,000 | 349,000,000 | 90,000,000 | -27,000,000 | 170,000,000 | 496,000,000 | 38,000,000 | -8,000,000 | -4,000,000 | -419,000,000 | 131,000,000 | 45,000,000 | 59,000,000 | -83,000,000 | 132,000,000 | 81,000,000 | 48,000,000 | 285,000,000 | 3,000,000 | -42,000,000 | 12,000,000 | 18,000,000 | 7,000,000 | 275,000,000 | 22,000,000 | 100,000,000 | 101,000,000 | 39,000,000 | 109,000,000 | 387,000,000 | -5,000,000 | 69,000,000 | -6,000,000 | 20,000,000 | -38,000,000 | -27,000,000 | ||||||||||||||||||||||||||
noncash losses and other | 7,000,000 | 5,000,000 | -4,000,000 | 27,000,000 | -23,000,000 | 8,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
changes in operating accounts: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
inventory | -2,015,000,000 | 167,000,000 | -308,000,000 | 2,425,000,000 | -2,561,000,000 | -874,000,000 | 156,000,000 | 378,000,000 | -2,047,000,000 | -68,000,000 | 883,000,000 | 3,618,000,000 | -1,797,000,000 | -237,000,000 | -1,181,000,000 | 4,708,000,000 | -3,699,000,000 | -720,000,000 | 114,000,000 | 471,000,000 | -3,836,000,000 | -292,000,000 | 408,000,000 | -63,000,000 | 438,000,000 | -271,000,000 | 323,000,000 | 142,000,000 | -162,000,000 | 180,000,000 | 322,000,000 | -63,000,000 | 248,000,000 | -258,000,000 | -133,000,000 | |||||||||||||||||||||||||||||||||||||||||
other assets | -445,000,000 | 5,000,000 | 146,000,000 | -43,000,000 | -212,000,000 | -96,000,000 | 43,000,000 | -100,000,000 | -270,000,000 | 28,000,000 | 34,000,000 | 227,000,000 | -26,000,000 | -93,000,000 | -86,000,000 | 139,000,000 | -120,000,000 | 8,000,000 | -5,000,000 | 96,000,000 | -160,000,000 | -25,000,000 | 11,000,000 | 47,000,000 | 17,000,000 | -25,000,000 | 26,000,000 | 52,000,000 | 22,000,000 | 33,000,000 | 107,000,000 | -59,000,000 | -61,000,000 | 18,000,000 | 138,000,000 | |||||||||||||||||||||||||||||||||||||||||
accounts payable | 1,783,000,000 | 219,000,000 | -1,344,000,000 | -1,354,000,000 | 1,840,000,000 | 1,046,000,000 | -524,000,000 | 121,000,000 | 2,024,000,000 | 326,000,000 | -1,463,000,000 | -2,013,000,000 | 560,000,000 | 776,000,000 | -1,560,000,000 | -5,521,000,000 | 3,595,000,000 | 894,000,000 | -1,205,000,000 | -1,659,000,000 | 3,492,000,000 | 1,075,000,000 | -280,000,000 | 1,452,000,000 | -3,158,000,000 | 2,956,000,000 | -1,611,000,000 | 2,406,000,000 | 1,727,000,000 | -568,000,000 | 1,752,000,000 | 223,000,000 | -698,000,000 | |||||||||||||||||||||||||||||||||||||||||||
accrued and other liabilities | 404,000,000 | -159,000,000 | -143,000,000 | 412,000,000 | 81,000,000 | 145,000,000 | -339,000,000 | -229,000,000 | 264,000,000 | 197,000,000 | 67,000,000 | -46,000,000 | 66,000,000 | -139,000,000 | -505,000,000 | 98,000,000 | 109,000,000 | -418,000,000 | -413,000,000 | -1,738,000,000 | 170,000,000 | 652,000,000 | 170,000,000 | 87,000,000 | 384,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
cash from operating activities | 1,127,000,000 | 2,083,000,000 | 275,000,000 | 3,289,000,000 | 739,000,000 | 2,238,000,000 | 1,101,000,000 | 2,035,000,000 | 1,934,000,000 | 2,133,000,000 | 1,265,000,000 | 3,466,000,000 | 599,000,000 | 1,347,000,000 | -1,394,000,000 | -1,579,000,000 | 2,175,000,000 | 2,283,000,000 | 1,139,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
capital expenditures | -978,000,000 | -1,074,000,000 | -790,000,000 | -923,000,000 | -655,000,000 | -639,000,000 | -674,000,000 | 1,061,000,000 | -1,127,000,000 | -1,220,000,000 | -1,605,000,000 | -1,205,000,000 | -1,800,000,000 | -1,571,000,000 | -952,000,000 | -3,045,000,000 | -1,145,000,000 | -798,000,000 | -540,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
free cash flows | 149,000,000 | 1,009,000,000 | -515,000,000 | 2,366,000,000 | 84,000,000 | 1,599,000,000 | 427,000,000 | 3,096,000,000 | 807,000,000 | 913,000,000 | -340,000,000 | 2,261,000,000 | -1,201,000,000 | -224,000,000 | -2,346,000,000 | -4,624,000,000 | 1,030,000,000 | 1,485,000,000 | 599,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investing activities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
expenditures for property and equipment | -978,000,000 | -1,074,000,000 | -790,000,000 | -923,000,000 | -655,000,000 | -639,000,000 | -674,000,000 | 1,061,000,000 | -1,127,000,000 | -1,220,000,000 | -1,605,000,000 | -1,205,000,000 | -1,800,000,000 | -1,571,000,000 | -952,000,000 | -3,045,000,000 | -1,145,000,000 | -798,000,000 | -540,000,000 | -1,535,000,000 | -595,000,000 | -663,000,000 | -751,000,000 | -1,180,000,000 | -1,183,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
other | 41,000,000 | 8,000,000 | 3,000,000 | -19,000,000 | 0 | 0 | 160,000,000 | 2,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash required for investing activities | -937,000,000 | -1,066,000,000 | -787,000,000 | -918,000,000 | -637,000,000 | -634,000,000 | -671,000,000 | 1,050,000,000 | -1,089,000,000 | -1,219,000,000 | -1,602,000,000 | -1,201,000,000 | -1,785,000,000 | -1,570,000,000 | -948,000,000 | -3,414,000,000 | -1,118,000,000 | -807,000,000 | -165,000,000 | -1,169,000,000 | -583,000,000 | -658,000,000 | -744,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
financing activities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
additions to long-term debt | 0 | 993,000,000 | 991,000,000 | 0 | 1,634,000,000 | -508,000,000 | 0 | 0 | 2,480,000,000 | 1,486,000,000 | 0 | 0 | 994,000,000 | 0 | -2,000,000 | 0 | 1,979,000,000 | 0 | 0 | 1,471,000,000 | 500,000,000 | 0 | 0 | 0 | 1,750,000,000 | 0 | 1,900,000,000 | 500,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
reductions of long-term debt | -38,000,000 | -37,000,000 | -1,534,000,000 | -27,000,000 | -36,000,000 | -1,044,000,000 | -32,000,000 | -1,025,000,000 | -42,000,000 | -26,000,000 | -46,000,000 | -24,000,000 | -26,000,000 | -65,000,000 | -48,000,000 | -51,000,000 | -40,000,000 | -51,000,000 | -21,000,000 | 1,248,000,000 | -2,269,000,000 | -109,000,000 | -17,000,000 | -752,000,000 | -501,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
dividends paid | -518,000,000 | -509,000,000 | -510,000,000 | -513,000,000 | -516,000,000 | -509,000,000 | -508,000,000 | -543,000,000 | -507,000,000 | -499,000,000 | -497,000,000 | -497,000,000 | -497,000,000 | -418,000,000 | -424,000,000 | -720,000,000 | -440,000,000 | -336,000,000 | -340,000,000 | -546,000,000 | -340,000,000 | -330,000,000 | -332,000,000 | -102,000,000 | -103,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
repurchase of stock | -150,000,000 | -8,000,000 | -250,000,000 | -501,000,000 | -351,000,000 | -1,000,000 | -4,000,000 | -2,640,000,000 | -181,000,000 | 2,216,000,000 | -2,192,000,000 | -1,540,000,000 | -1,310,000,000 | -6,615,000,000 | -35,000,000 | -20,000,000 | -686,000,000 | -440,000,000 | -500,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
shares withheld for taxes on share-based compensation | -3,000,000 | -2,000,000 | -60,000,000 | -1,000,000 | -4,000,000 | -3,000,000 | -91,000,000 | 25,000,000 | -3,000,000 | -3,000,000 | -118,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash required for financing activities | -709,000,000 | 437,000,000 | -1,363,000,000 | -1,042,000,000 | -166,000,000 | -1,711,000,000 | -631,000,000 | -1,809,000,000 | -552,000,000 | -618,000,000 | -571,000,000 | -990,000,000 | 1,023,000,000 | 228,000,000 | -2,457,000,000 | 4,069,000,000 | -6,431,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net decrease in cash and cash equivalents | -519,000,000 | 1,454,000,000 | -1,875,000,000 | -64,000,000 | -107,000,000 | -201,000,000 | 293,000,000 | 296,000,000 | -908,000,000 | -163,000,000 | 5,000,000 | -4,799,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents at beginning of period | 0 | 0 | 4,762,000,000 | 0 | 0 | 0 | 3,805,000,000 | 1,576,000,000 | 0 | 0 | 2,229,000,000 | 0 | 0 | 0 | 5,911,000,000 | -2,600,000,000 | 0 | 0 | 8,511,000,000 | 5,934,000,000 | 0 | 0 | 2,577,000,000 | 1,021,000,000 | 0 | 0 | 1,556,000,000 | -1,087,000,000 | 0 | 0 | 2,643,000,000 | 131,000,000 | 0 | 0 | 2,512,000,000 | 0 | 0 | 0 | 4,046,000,000 | 1,836,000,000 | 0 | 0 | 2,210,000,000 | 1,515,000,000 | 0 | 0 | 695,000,000 | -89,000,000 | 0 | 0 | 784,000,000 | -10,000,000 | 0 | 0 | 794,000,000 | 0 | 0 | 1,712,000,000 | 0 | 0 | 2,200,000,000 | 0 | 0 | 864,000,000 | 0 | 0 | 2,450,000,000 | 0 | 0 | 813,000,000 | 0 | 0 | 1,648,000,000 | 0 | 0 | 2,245,000,000 |
cash and cash equivalents at end of period | -519,000,000 | 1,454,000,000 | 2,887,000,000 | 1,329,000,000 | -64,000,000 | -107,000,000 | 3,604,000,000 | 2,852,000,000 | 293,000,000 | 296,000,000 | 1,321,000,000 | 1,275,000,000 | -163,000,000 | 5,000,000 | 1,112,000,000 | -3,524,000,000 | -1,615,000,000 | -448,000,000 | 7,816,000,000 | -85,000,000 | -1,288,000,000 | 2,718,000,000 | 4,566,000,000 | 7,542,000,000 | -687,000,000 | 483,000,000 | 1,173,000,000 | 1,752,000,000 | -355,000,000 | 120,000,000 | 1,060,000,000 | -1,169,000,000 | 434,000,000 | -389,000,000 | 2,680,000,000 | 1,281,000,000 | -249,000,000 | -2,556,000,000 | 4,036,000,000 | 535,000,000 | -765,000,000 | -26,000,000 | 2,768,000,000 | 3,266,000,000 | -23,000,000 | 88,000,000 | 715,000,000 | 1,504,000,000 | -312,000,000 | -801,000,000 | 1,819,000,000 | -774,000,000 | 27,000,000 | 767,000,000 | 675,000,000 | -69,000,000 | -534,000,000 | 1,424,000,000 | -604,000,000 | -38,000,000 | 1,578,000,000 | -93,000,000 | -414,000,000 | 1,371,000,000 | -609,000,000 | 907,000,000 | 620,000,000 | 72,000,000 | -414,000,000 | 969,000,000 | -26,000,000 | -512,000,000 | 989,000,000 | -193,000,000 | -456,000,000 | 1,152,000,000 |
supplemental information | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
leased assets obtained in exchange for new finance lease liabilities | 59,000,000 | 24,000,000 | 17,000,000 | 7,000,000 | 8,000,000 | 182,000,000 | 122,000,000 | 233,000,000 | 66,000,000 | 5,000,000 | 15,000,000 | 108,000,000 | 9,000,000 | 45,000,000 | 62,000,000 | -10,000,000 | 52,000,000 | 113,000,000 | 69,000,000 | -56,000,000 | 98,000,000 | 143,000,000 | 103,000,000 | 127,000,000 | 145,000,000 | 30,000,000 | 126,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
leased assets obtained in exchange for new operating lease liabilities | 172,000,000 | 49,000,000 | 70,000,000 | 342,000,000 | 54,000,000 | 148,000,000 | 214,000,000 | 79,000,000 | 342,000,000 | 283,000,000 | 54,000,000 | 126,000,000 | 106,000,000 | 38,000,000 | 59,000,000 | -153,000,000 | 96,000,000 | 197,000,000 | 189,000,000 | 394,000,000 | 44,000,000 | 45,000,000 | 97,000,000 | -72,000,000 | 139,000,000 | 88,000,000 | 107,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net earnings to cash from operations: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from disposal of property and equipment | 1,000,000 | 0 | 1,000,000 | 1,000,000 | -21,000,000 | 18,000,000 | 4,000,000 | 2,000,000 | 4,000,000 | 0 | 2,000,000 | 2,000,000 | -15,000,000 | 8,000,000 | 3,000,000 | 12,000,000 | 0 | 17,000,000 | 4,000,000 | 6,000,000 | 13,000,000 | 19,000,000 | 5,000,000 | 5,000,000 | 24,000,000 | 24,000,000 | 11,000,000 | 4,000,000 | 58,000,000 | 5,000,000 | 9,000,000 | 13,000,000 | 23,000,000 | 9,000,000 | 11,000,000 | 3,000,000 | 25,000,000 | 8,000,000 | 7,000,000 | 6,000,000 | -56,000,000 | 40,000,000 | 39,000,000 | 5,000,000 | 22,000,000 | 25,000,000 | 29,000,000 | 19,000,000 | 51,000,000 | 17,000,000 | 17,000,000 | 1,000,000 | 5,000,000 | 1,000,000 | 1,000,000 | 4,000,000 | 20,000,000 | 12,000,000 | 1,000,000 | 18,000,000 | 6,000,000 | 9,000,000 | 15,000,000 | 2,000,000 | 37,000,000 | 12,000,000 | 4,000,000 | 5,000,000 | 10,000,000 | 5,000,000 | ||||||
other investments | 4,000,000 | 18,000,000 | 4,000,000 | 2,000,000 | 10,000,000 | 20,000,000 | -3,000,000 | 1,000,000 | 0 | 15,000,000 | -1,000,000 | 2,000,000 | 2,000,000 | 19,000,000 | -12,000,000 | 7,000,000 | 10,000,000 | -5,000,000 | 1,000,000 | 1,000,000 | 2,000,000 | 1,000,000 | 5,000,000 | 12,000,000 | -2,000,000 | 5,000,000 | 5,000,000 | 22,000,000 | -2,000,000 | 3,000,000 | 16,000,000 | -26,000,000 | 17,000,000 | 21,000,000 | -64,000,000 | 42,000,000 | 28,000,000 | 18,000,000 | -5,000,000 | 38,000,000 | 21,000,000 | 52,000,000 | 44,000,000 | 6,000,000 | ||||||||||||||||||||||||||||||||
stock option exercises | 2,000,000 | 0 | 1,000,000 | 1,000,000 | -1,000,000 | 0 | 3,000,000 | 2,000,000 | -10,000,000 | 11,000,000 | 3,000,000 | 4,000,000 | -42,000,000 | 41,000,000 | 12,000,000 | 12,000,000 | -18,000,000 | 41,000,000 | 34,000,000 | 16,000,000 | 71,000,000 | 16,000,000 | 5,000,000 | 4,000,000 | 55,000,000 | 15,000,000 | 11,000,000 | 140,000,000 | 24,000,000 | 41,000,000 | 84,000,000 | 36,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
net increase in cash and cash equivalents | -1,615,000,000 | -448,000,000 | -695,000,000 | -1,288,000,000 | 2,718,000,000 | 1,989,000,000 | -26,000,000 | 558,000,000 | -23,000,000 | 88,000,000 | 20,000,000 | -801,000,000 | 1,035,000,000 | 27,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
interest paid, net of capitalized interest | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
income taxes paid | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
noncash (gains) / losses and other | -31,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
change in commercial paper | 90,000,000 | 559,000,000 | 600,000,000 | 945,000,000 | 196,000,000 | -197,000,000 | 306,000,000 | 902,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
gain on dermstore sale | 0 | 0 | -335,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from dermstore sale | 0 | 0 | 356,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
noncash losses / (gains) and other | -75,000,000 | 90,000,000 | 22,000,000 | -11,000,000 | 31,000,000 | 33,000,000 | 56,000,000 | 52,000,000 | 154,000,000 | 11,000,000 | 37,000,000 | -30,000,000 | -57,000,000 | 38,000,000 | 81,000,000 | 5,000,000 | 80,000,000 | -36,000,000 | 32,000,000 | 10,000,000 | -56,000,000 | -14,000,000 | 59,000,000 | 40,000,000 | -94,000,000 | 108,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
net increase / (decrease) in cash and cash equivalents | 168,000,000 | -414,000,000 | 507,000,000 | 156,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accelerated share repurchase pending final settlement | -2,750,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
loss on debt extinguishment | 0 | 0 | 161,000,000 | 261,000,000 | 0 | -160,000,000 | 0 | 0 | 445,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net (decrease) / increase in cash and cash equivalents | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net earnings to cash (required for) provided by operating activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
earnings from discontinued operations, net of tax | 8,000,000 | 0 | 3,000,000 | 5,000,000 | 6,000,000 | 0 | 1,000,000 | 0 | 3,000,000 | 0 | 4,000,000 | 0 | 55,000,000 | 18,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net earnings from continuing operations | 3,958,000,000 | 1,014,000,000 | 1,690,000,000 | 284,000,000 | 1,932,000,000 | 706,000,000 | 938,000,000 | 792,000,000 | 1,137,000,000 | 616,000,000 | 799,000,000 | 717,000,000 | 1,104,000,000 | 477,000,000 | 672,000,000 | 677,000,000 | 822,000,000 | 608,000,000 | 625,000,000 | 614,000,000 | 769,000,000 | 476,000,000 | 773,000,000 | 651,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
cash from operating activities—continuing operations | 1,581,000,000 | 1,928,000,000 | 6,384,000,000 | 1,331,000,000 | 2,487,000,000 | 323,000,000 | 3,485,000,000 | 891,000,000 | 2,211,000,000 | 512,000,000 | 1,556,000,000 | 1,548,000,000 | 1,611,000,000 | 1,255,000,000 | 2,559,000,000 | 1,374,000,000 | 1,143,000,000 | 253,000,000 | 2,373,000,000 | 990,000,000 | 1,249,000,000 | 717,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash from operating activities—discontinued operations | 16,000,000 | 8,000,000 | 9,000,000 | -1,000,000 | 2,000,000 | -72,000,000 | 18,000,000 | 19,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
loss on extinguishment of debt | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash (required for) / provided by financing activities | -1,924,000,000 | -1,669,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash from operations | 1,928,000,000 | 3,832,000,000 | 1,284,000,000 | 6,366,000,000 | 1,347,000,000 | 2,489,000,000 | 323,000,000 | 3,493,000,000 | 900,000,000 | 2,210,000,000 | 514,000,000 | 1,484,000,000 | 1,566,000,000 | 1,620,000,000 | 1,303,000,000 | 2,555,000,000 | 1,393,000,000 | 1,241,000,000 | 247,000,000 | 1,676,000,000 | 971,000,000 | 1,238,000,000 | 1,551,000,000 | 3,794,000,000 | 536,000,000 | 994,000,000 | 520,000,000 | -314,000,000 | 644,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net earnings to cash from operations | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
changes in operating accounts | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash from / (required for) financing activities | -456,000,000 | 1,449,000,000 | 22,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash paid for acquisitions, net of cash assumed | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
gain on sale | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from sale of businesses | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash (required for) / provided by investing activities—continuing operations | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash from investing activities—discontinued operations | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash (required for) / provided by investing activities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
income taxes paid / | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
property and equipment acquired through capital lease obligations | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
prepayment of accelerated share repurchase | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash from / (required for) operating activities—discontinued operations | 48,000,000 | -697,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net earnings / | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
earnings / (losses) from discontinued operations, net of tax | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accounts payable and accrued liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash from / (required for) investing activities—discontinued operations | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from sale of business | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash required for investing activities—continuing operations | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash (required for) / provided by operating activities—discontinued operations | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accounts receivable originated at target | 0 | 0 | 157,000,000 | 60,000,000 | -19,000,000 | -26,000,000 | 142,000,000 | -23,000,000 | -6,000,000 | 149,000,000 | 0 | 40,000,000 | 201,000,000 | 36,000,000 | -6,000,000 | 160,000,000 | 21,000,000 | -112,000,000 | 48,000,000 | -82,000,000 | 99,000,000 | -73,000,000 | 90,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds on sale of accounts receivable originated at target | 0 | -14,000,000 | 2,717,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
change in accounts receivable originated at third parties | 0 | 0 | 121,000,000 | -71,000,000 | 16,000,000 | -9,000,000 | 185,000,000 | -8,000,000 | -10,000,000 | 271,000,000 | 71,000,000 | 16,000,000 | 238,000,000 | -133,000,000 | 175,000,000 | 23,000,000 | -374,000,000 | 53,000,000 | 110,000,000 | 16,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from sale of accounts receivable originated at third parties | 0 | -18,000,000 | 3,020,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash from / (required for) investing activities—continuing operations | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash from / (required for) investing activities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
stock option exercises and related tax benefit | 13,000,000 | 74,000,000 | 257,000,000 | 281,000,000 | 33,000,000 | 29,000,000 | 26,000,000 | -22,000,000 | 32,000,000 | 154,000,000 | 209,000,000 | 177,000,000 | 96,000,000 | 101,000,000 | 82,000,000 | 32,000,000 | 18,000,000 | 16,000,000 | 17,000,000 | 47,000,000 | 69,000,000 | 22,000,000 | 7,000,000 | 2,000,000 | 13,000,000 | 8,000,000 | 13,000,000 | 9,000,000 | 159,000,000 | 36,000,000 | 68,000,000 | |||||||||||||||||||||||||||||||||||||||||||||
effect of exchange rate changes on cash and cash equivalents | -2,000,000 | -6,000,000 | 9,000,000 | 0 | 3,000,000 | 1,000,000 | 19,000,000 | 1,000,000 | 5,000,000 | 1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
income taxes (refunded) / paid | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
losses from discontinued operations, net of tax | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash from/ (required for) operating activities—discontinued operations | -11,000,000 | 834,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash from/ (required for) investing activities—discontinued operations | 0 | 19,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash (required for)/ provided by financing activities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
gain on receivables transaction | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash required for operating activities—discontinued operations | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash (required for)/ provided by investing activities—continuing operations | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash required for investing activities—discontinued operations | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
reductions of short-term debt | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
bad debt expense | 0 | 0 | 41,000,000 | -100,000,000 | 46,000,000 | 43,000,000 | 52,000,000 | 40,000,000 | 15,000,000 | 12,000,000 | 110,000,000 | 138,000,000 | 197,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other current assets | -67,000,000 | 48,000,000 | 255,000,000 | -16,000,000 | 88,000,000 | -4,000,000 | 84,000,000 | 27,000,000 | 79,000,000 | -235,000,000 | 110,000,000 | -40,000,000 | 88,000,000 | 40,000,000 | 151,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other noncurrent assets | -6,000,000 | 16,000,000 | -15,000,000 | 27,000,000 | 20,000,000 | 33,000,000 | 2,000,000 | 14,000,000 | 8,000,000 | 8,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accrued and other current liabilities | 28,000,000 | 63,000,000 | -83,000,000 | 113,000,000 | 12,000,000 | 97,000,000 | -258,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other noncurrent liabilities | 12,000,000 | -10,000,000 | 41,000,000 | 24,000,000 | 40,000,000 | 58,000,000 | 41,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash (required for)/provided by investing activities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash (required for) financing activities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash from/(required for) financing activities | 29,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
additions to short-term debt | 450,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
noncash financing activities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net (loss)/earnings | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
noncash losses/ | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net increase/(decrease) in cash and cash equivalents | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash from/(required for) investing activities | -958,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
reconciliation to cash flow | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flow from operations | 3,230,000,000 | 877,000,000 | 1,164,000,000 | 1,307,000,000 | 639,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flow from/(required for) investing activities | 2,253,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flow required for financing activities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
noncash (gains)/losses and other | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
gain on receivables held for sale | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
non-cash losses and other | 2,000,000 | 14,000,000 | 43,000,000 | 19,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flow required for investing activities | -1,606,000,000 | -1,131,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flow provided by operations | 1,052,000,000 | 1,158,000,000 | 976,000,000 | 1,052,000,000 | 999,000,000 | 740,000,000 | 383,000,000 | 741,000,000 | 462,000,000 | 543,000,000 | 642,000,000 | 527,000,000 | 362,000,000 | 858,000,000 | 600,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
loss/impairment of property and equipment | 2,000,000 | 2,000,000 | 8,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other non-cash items affecting earnings | 53,000,000 | 53,000,000 | 22,000,000 | 16,000,000 | 18,000,000 | 10,000,000 | 59,000,000 | 83,000,000 | 23,000,000 | 21,000,000 | 42,000,000 | 19,000,000 | 13,000,000 | 16,000,000 | 4,000,000 | 29,000,000 | -31,000,000 | 43,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
changes in operating accounts providing / (requiring) cash | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
changes in operating accounts providing/(requiring) cash | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
loss on disposal of property and equipment | 11,000,000 | 56,000,000 | 18,000,000 | 9,000,000 | 17,000,000 | 7,000,000 | -1,000,000 | 21,000,000 | 14,000,000 | 11,000,000 | 32,000,000 | 15,000,000 | 6,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
reductions of short-term notes payable | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flow (required for)/provided by financing activities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
bad debt provision | 304,000,000 | 296,000,000 | 314,000,000 | 256,000,000 | 181,000,000 | 129,000,000 | 96,000,000 | 86,000,000 | 97,000,000 | 93,000,000 | 88,000,000 | 120,000,000 | 111,000,000 | 106,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
additions to short-term notes payable | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flow provided by financing activities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flow (required for) / provided by financing activities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
reconciliation of net earnings to operating cash flows | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other non-current assets | 16,000,000 | -1,000,000 | -6,000,000 | 11,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other non-current liabilities | 15,000,000 | 25,000,000 | 18,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in notes payable | 207,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flow provided by / (required for) financing activities | 451,000,000 | 825,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
income taxes payable | 226,000,000 | 190,000,000 | 163,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
changes in operating accounts providing / (requiring) cash: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accrued liabilities | 207,000,000 | 109,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
share-based compensation tax benefit | 6,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
earnings from and gain on disposal of discontinued operations, net of tax | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
earnings from continuing operations | 435,000,000 | 540,000,000 | 494,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
reconciliation to cash flow: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
deferred income tax | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
loss on disposal of fixed assets | 5,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from disposal of fixed assets | 9,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from sale of discontinued operations | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flow (required) / provided by investing activities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flow required by financing activities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net cash required by discontinued operations | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
earnings from disposal of discontinued operations, net of tax | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
changes in operating accounts providing/(requiring) cash: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from the disposal of property and equipment | 4,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flow required by investing activities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
reductions of long term debt | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net cash from discontinued operations |