| Schedule of Business Segment Results and Total Assets by Segment |
| | | | | | | | | | | | | | | | | | | | | | | | | Business Segment Results | Three Months Ended | | Nine Months Ended | | (millions) | November 1, 2025 | | November 2, 2024 | | November 1, 2025 | | November 2, 2024 | | Net sales | $ | 25,270 | | | $ | 25,668 | | | $ | 74,327 | | | $ | 75,651 | | | Cost of sales | | | | | | | | | Merchandising cost of sales | 16,261 | | | 16,447 | | | 47,793 | | | 48,386 | | | Supply chain and digital fulfillment costs | 1,876 | | | 1,955 | | | 5,375 | | | 5,314 | | | | | | | | | | | Total cost of sales | 18,137 | | | 18,402 | | | 53,168 | | | 53,700 | | Selling, general and administrative expenses (a) | 5,536 | | | 5,459 | | | 15,486 | | | 15,969 | | Depreciation and amortization (exclusive of depreciation included in cost of sales) | 649 | | | 639 | | | 1,936 | | | 1,883 | | Operating income (a) | 948 | | | 1,168 | | | 3,737 | | | 4,099 | | | Net interest expense | 115 | | | 105 | | | 346 | | | 321 | | | Net other income | (26) | | | (28) | | | (68) | | | (77) | | | Earnings before income taxes | 859 | | | 1,091 | | | 3,459 | | | 3,855 | | | Provision for income taxes | 170 | | | 237 | | | 799 | | | 867 | | | Net earnings | $ | 689 | | | $ | 854 | | | $ | 2,660 | | | $ | 2,988 | |
(a)For the three and nine months ended November 1, 2025, includes $161 million related to business transformation costs described in Note 4. For the nine months ended November 1, 2025, includes $593 million of pretax net gains related to settlements of credit card interchange fee litigation matters. Note 3 provides additional information.
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