Item 6. Selected Financial Data


Dollars in millions				Fiscal Year Ended January
except per share amounts	2013			2012			2011			2010			2009
	(53 Weeks)												(53 Weeks)
Income statement and per share data:
Net sales	$	25,878		$	23,191		$	21,942		$	20,288		$	19,000
Income from continuing operations	$	1,907		$	1,496		$	1,340		$	1,214		$	915
Weighted average common shares for diluted earnings per share calculation (in thousands)(1)		747,555			773,772			812,826			855,239			884,510
Diluted earnings per share from continuing operations(1)	$	2.55		$	1.93		$	1.65		$	1.42		$	1.04
Cash dividends declared per share(1)	$	0.46		$	0.38		$	0.30		$	0.24		$	0.22
Balance sheet data:
Cash and cash equivalents	$	1,812		$	1,507		$	1,742		$	1,615		$	454
Working capital	$	1,951		$	2,069		$	1,966		$	1,909		$	858
Total assets	$	9,512		$	8,282		$	7,972		$	7,464		$	6,178
Capital expenditures	$	978		$	803		$	707		$	429		$	583
Long-term obligations(2)	$	775		$	785		$	788		$	790		$	384
Shareholders’ equity	$	3,666		$	3,209		$	3,100		$	2,889		$	2,135
Other financial data:
After-tax return (continuing operations) on average shareholders’ equity		55.5	%		47.4	%		44.7	%		48.3	%		42.9	%
Total debt as a percentage of total capitalization(3)		17.4	%		19.7	%		20.3	%		21.5	%		26.7	%
Stores in operation:
In the United States:
T.J. Maxx		1,036			983			923			890			874
Marshalls		904			884			830			813			806
Sierra Trading Post		4			—			—			—			—
HomeGoods		415			374			336			323			318
A.J. Wright(4)		—			—			142			150			135
In Canada:
Winners		222			216			215			211			202
HomeSense		88			86			82			79			75
Marshalls		14			6			—			—			—
In Europe:
T.K. Maxx		343			332			307			263			235
HomeSense		24			24			24			14			7
Total		3,050			2,905			2,859			2,743			2,652
Selling square footage (in thousands):
In the United States:
T.J. Maxx		23,894			22,894			21,611			20,890			20,543
Marshalls		22,380			22,042			20,912			20,513			20,388
Sierra Trading Post		83			—			—			—			—
HomeGoods		8,210			7,391			6,619			6,354			6,248
A.J. Wright(4)		—			—			2,874			3,012			2,680
In Canada:
Winners		5,115			5,008			4,966			4,847			4,647
HomeSense		1,698			1,670			1,594			1,527			1,437
Marshalls		363			162			—			—			—
In Europe:
T.K. Maxx		7,830			7,588			7,052			6,106			5,404
HomeSense		411			402			402			222			107
Total		69,984			67,157			66,030			63,471			61,454

(1)	Fiscal 2011, fiscal 2010 and fiscal 2009 have been restated to reflect the two-for-one stock split effected in February 2012.

(2)	Includes long-term debt, exclusive of current installments and capital lease obligation, less portion due within one year.

(3)	Total capitalization includes shareholders’ equity, short-term debt, long-term debt and capital lease obligation, including current maturities.

(4)	As a result of the consolidation of the A.J. Wright chain, all A.J. Wright stores ceased operations by the end of February 2011.

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