ILLUSTRATION 3.10: Working Capital versus Noncash
Working Capital: Target
As a large retailer, Target has substantial investments in
inventory, accounts receivable, and other working capital
items. The following table contrasts working capital with
noncash working capital for the firm in 2003 and 2004.
2004
($millions)2003
($millions)
Cash 2,245 708
Accounts receivable 5,069 4,621
Inventory 5,384 4,531
Other current assets 1,224 1,000
Current assets of discontinued
operations