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Quarterly Results (Unaudited) | 12 Months Ended
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Feb. 01, 2014
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Results (Unaudited) | Quarterly Results (Unaudited) Due to the seasonal nature of our business, fourth quarter operating results typically represent a substantially larger share of total year revenues and earnings because they include our peak sales period from Thanksgiving through the end of December. We follow the same accounting policies for preparing quarterly and annual financial data. The table below summarizes quarterly results for 2013 and 2012:
Quarterly Results | First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter |  | Total Year
(millions, except per share data) | 2013 |  | 2012 |  |  | 2013 |  | 2012 |  |  | 2013 |  | 2012 |  |  | 2013 |  | 2012 (a) |  |  | 2013 |  | 2012 (a) |
Sales | $ | 16,706 |  | $ | 16,537 |  |  | $ | 17,117 |  | $ | 16,451 |  |  | $ | 17,258 |  | $ | 16,601 |  |  | $ | 21,516 |  | $ | 22,370 |  |  | $ | 72,596 |  | $ | 71,960 |
Credit card revenues | — |  | 330 |  |  | — |  | 328 |  |  | — |  | 328 |  |  | — |  | 356 |  |  | — |  | 1,341 |
Total revenues | 16,706 |  | 16,867 |  |  | 17,117 |  | 16,779 |  |  | 17,258 |  | 16,929 |  |  | 21,516 |  | 22,726 |  |  | 72,596 |  | 73,301 |
Cost of sales | 11,563 |  | 11,541 |  |  | 11,745 |  | 11,297 |  |  | 12,133 |  | 11,569 |  |  | 15,719 |  | 16,160 |  |  | 51,160 |  | 50,568 |
Selling, general and administrative expenses | 3,590 |  | 3,392 |  |  | 3,698 |  | 3,588 |  |  | 3,853 |  | 3,704 |  |  | 4,235 |  | 4,229 |  |  | 15,375 |  | 14,914 |
Credit card expenses | — |  | 120 |  |  | — |  | 108 |  |  | — |  | 106 |  |  | — |  | 135 |  |  | — |  | 467 |
Depreciation and amortization | 536 |  | 529 |  |  | 542 |  | 531 |  |  | 569 |  | 542 |  |  | 576 |  | 539 |  |  | 2,223 |  | 2,142 |
Gain on receivables transaction | (391 | ) | — |  |  | — |  | — |  |  | — |  | (156 | ) |  | — |  | (5 | ) |  | (391 | ) | (161 | )
Earnings before interest expense and income taxes | 1,408 |  | 1,285 |  |  | 1,132 |  | 1,255 |  |  | 703 |  | 1,164 |  |  | 986 |  | 1,668 |  |  | 4,229 |  | 5,371 |
Net interest expense | 629 |  | 184 |  |  | 171 |  | 184 |  |  | 165 |  | 192 |  |  | 161 |  | 204 |  |  | 1,126 |  | 762 |
Earnings before income taxes | 779 |  | 1,101 |  |  | 961 |  | 1,071 |  |  | 538 |  | 972 |  |  | 825 |  | 1,464 |  |  | 3,103 |  | 4,609 |
Provision for income taxes | 281 |  | 404 |  |  | 350 |  | 367 |  |  | 197 |  | 335 |  |  | 305 |  | 503 |  |  | 1,132 |  | 1,610 |
Net earnings | $ | 498 |  | $ | 697 |  |  | $ | 611 |  | $ | 704 |  |  | $ | 341 |  | $ | 637 |  |  | $ | 520 |  | $ | 961 |  |  | $ | 1,971 |  | $ | 2,999 |
Basic earnings per share | $ | 0.78 |  | $ | 1.05 |  |  | $ | 0.96 |  | $ | 1.07 |  |  | $ | 0.54 |  | $ | 0.97 |  |  | $ | 0.82 |  | $ | 1.48 |  |  | $ | 3.10 |  | $ | 4.57 |
Diluted earnings per share | 0.77 |  | 1.04 |  |  | 0.95 |  | 1.06 |  |  | 0.54 |  | 0.96 |  |  | 0.81 |  | 1.47 |  |  | 3.07 |  | 4.52 |
Dividends declared per share | 0.36 |  | 0.30 |  |  | 0.43 |  | 0.36 |  |  | 0.43 |  | 0.36 |  |  | 0.43 |  | 0.36 |  |  | 1.65 |  | 1.38 |
Closing common stock price: |  |  |  |  |  |  |  |  |  |  |  |  |  |
High | 70.67 |  | 58.86 |  |  | 73.32 |  | 61.95 |  |  | 71.99 |  | 65.44 |  |  | 66.89 |  | 64.48 |  |  | 73.32 |  | 65.44 |
Low | 60.85 |  | 50.33 |  |  | 68.29 |  | 54.81 |  |  | 62.13 |  | 60.62 |  |  | 56.64 |  | 58.57 |  |  | 56.64 |  | 50.33 |
Note: Per share amounts are computed independently for each of the quarters presented. The sum of the quarters may not equal the total year amount due to the impact of changes in average quarterly shares outstanding and all other quarterly amounts may not equal the total year due to rounding.
(a) | The fourth quarter and total year 2013 consisted of 13 weeks and 52 weeks, respectively, compared with 14 weeks and 53 weeks in the comparable prior-year periods.
U.S. Sales by Product Category (a) | First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter |  | Total Year
| 2013 |  | 2012 |  |  | 2013 |  | 2012 |  |  | 2013 |  | 2012 |  |  | 2013 |  | 2012 |  |  | 2013 |  | 2012 |
Household essentials | 27 | % | 26 | % |  | 27 | % | 27 | % |  | 26 | % | 26 | % |  | 22 | % | 21 | % |  | 25 | % | 25 | %
Hardlines | 15 |  | 16 |  |  | 15 |  | 15 |  |  | 15 |  | 14 |  |  | 24 |  | 24 |  |  | 18 |  | 18 |
Apparel and accessories | 20 |  | 20 |  |  | 20 |  | 20 |  |  | 20 |  | 20 |  |  | 17 |  | 18 |  |  | 19 |  | 19 |
Food and pet supplies | 22 |  | 21 |  |  | 20 |  | 20 |  |  | 21 |  | 21 |  |  | 19 |  | 18 |  |  | 21 |  | 20 |
Home furnishings and décor | 16 |  | 17 |  |  | 18 |  | 18 |  |  | 18 |  | 19 |  |  | 18 |  | 19 |  |  | 17 |  | 18 |
Total | 100 | % | 100 | % |  | 100 | % | 100 | % |  | 100 | % | 100 | % |  | 100 | % | 100 | % |  | 100 | % | 100 | %
(a) | As a percentage of sales.

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- Definition The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e765-108305 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e725-108305 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=25249566&loc=d3e1280-108306 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a + Details
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