Item 6. Selected Financial Data

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Item 6. Selected Financial Data


Dollars in millions	Fiscal Year Ended January
except per share amounts	2015			2014			2013			2012			2011
							(53 Weeks)
Income statement and per share data:
Net sales	$	29,078		$	27,423		$	25,878		$	23,191		$	21,942
Income from continuing operations	$	2,215		$	2,137		$	1,907		$	1,496		$	1,340
Weighted average common shares for diluted earnings per share calculation (in thousands)(1)		703,545			726,376			747,555			773,772			812,826
Diluted earnings per share from continuing operations(1)	$	3.15		$	2.94		$	2.55		$	1.93		$	1.65
Cash dividends declared per share(1)	$	0.70		$	0.58		$	0.46		$	0.38		$	0.30
Balance sheet data:
Cash and cash equivalents	$	2,494		$	2,150		$	1,812		$	1,507		$	1,742
Working capital	$	2,785		$	2,550		$	1,951		$	2,069		$	1,966
Total assets	$	11,128		$	10,201		$	9,512		$	8,282		$	7,972
Capital expenditures	$	912		$	947		$	978		$	803		$	707
Long-term obligations(2)	$	1,624		$	1,274		$	775		$	785		$	788
Shareholders’ equity	$	4,264		$	4,230		$	3,666		$	3,209		$	3,100
Other financial data:
After-tax return (continuing operations) on average shareholders’ equity		52.2	%		54.1	%		55.5	%		47.4	%		44.7	%
Total debt as a percentage of total capitalization(3)		27.6	%		23.2	%		17.4	%		19.7	%		20.3	%
Stores in operation:
In the United States:
T.J. Maxx		1,119			1,079			1,036			983			923
Marshalls		975			942			904			884			830
Sierra Trading Post		6			4			4			—			—
HomeGoods		487			450			415			374			336
A.J. Wright(4)		—			—			—			—			142
In Canada:
Winners		234			227			222			216			215
HomeSense		96			91			88			86			82
Marshalls		38			27			14			6			—
In Europe:
T.K. Maxx		407			371			343			332			307
HomeSense		33			28			24			24			24
Total		3,395			3,219			3,050			2,905			2,859
Selling square footage (in thousands):
In the United States:
T.J. Maxx		25,461			24,712			23,894			22,894			21,611
Marshalls		23,715			23,092			22,380			22,042			20,912
Sierra Trading Post		122			83			83			—			—
HomeGoods		9,537			8,865			8,210			7,391			6,619
A.J. Wright(4)		—			—			—			—			2,874
In Canada:
Winners		5,310			5,196			5,115			5,008			4,966
HomeSense		1,824			1,748			1,698			1,670			1,594
Marshalls		914			666			363			162			—
In Europe:
T.K. Maxx		9,109			8,383			7,830			7,588			7,052
HomeSense		545			464			411			402			402
Total		76,537			73,209			69,984			67,157			66,030

(1)	Fiscal 2011 has been adjusted 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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