7. Canadian Leasehold Acquisition

        In January 2011, we entered into an agreement to purchase the leasehold interests in up to 220 sites in Canada operated by Zellers, in exchange for $1,861 million. We have completed this real estate acquisition with the selection of 189 Zellers sites. We believe this transaction will allow us to open 125 to 135 Target stores in Canada, primarily during 2013. We sold our right to acquire the leasehold interests in 54 sites to third-party retailers and landlords, for a total of $225 million. These transactions resulted in a final net purchase price of $1,636 million, which is included in expenditures for property and equipment in the Consolidated Statement of Cash Flows.

        At the time of acquisition, we recorded the assets in our Canadian Segment at their estimated fair values.

(a)

Amortization period of acquired intangible assets range from 3 to 13 years.

        The acquired sites are being subleased back to Zellers for terms through March 2013, or earlier, at our option.