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&lt;p style="FONT-FAMILY: arial; TEXT-ALIGN: justify"&gt;&lt;font color="#F20017" size="2"&gt;&lt;b&gt;1. Summary of Accounting Policies &lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial; TEXT-ALIGN: justify"&gt;&lt;font size="2"&gt;&lt;b&gt;Organization&lt;/b&gt;&lt;/font&gt;&lt;font size="2"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Target Corporation (Target or the Corporation) operates two reportable segments: Retail and Credit Card. Our Retail Segment includes all of our merchandising operations, including our large-format general merchandise and food discount stores in the United States and our fully integrated online business. Our Credit Card Segment offers credit to qualified guests through our branded proprietary credit cards, the Target Visa and the Target Card (collectively, REDcards). Our Credit Card Segment strengthens the bond with our guests, drives incremental sales and contributes to our results of operations. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial; TEXT-ALIGN: justify"&gt;&lt;font size="2"&gt;&lt;b&gt;Consolidation&lt;/b&gt;&lt;/font&gt;&lt;font size="2"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;The consolidated financial statements include the balances of the Corporation and its subsidiaries after elimination of intercompany balances and transactions. All material subsidiaries are wholly owned. We consolidate variable interest entities where it has been determined that the Corporation is the primary beneficiary of those entities' operations. The variable interest entity consolidated is a bankruptcy-remote subsidiary through which we sell certain accounts receivable as a method of providing funding for our accounts receivable. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial; TEXT-ALIGN: justify"&gt;&lt;font size="2"&gt;&lt;b&gt;Use of estimates&lt;/b&gt;&lt;/font&gt;&lt;font size="2"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;The preparation of our consolidated financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires management to make estimates and assumptions affecting reported amounts in the consolidated financial statements and accompanying notes. Actual results may differ significantly from those estimates. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial; TEXT-ALIGN: justify"&gt;&lt;font size="2"&gt;&lt;b&gt;Fiscal year&lt;/b&gt;&lt;/font&gt;&lt;font size="2"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Our fiscal year ends on the Saturday nearest January&amp;nbsp;31. Unless otherwise stated, references to years in this report relate to fiscal years, rather than to calendar years. Fiscal year 2009 (2009) ended January&amp;nbsp;30, 2010 and consisted of 52&amp;nbsp;weeks. Fiscal year 2008 (2008) ended January&amp;nbsp;31, 2009 and consisted of 52&amp;nbsp;weeks. Fiscal year 2007 (2007) ended February&amp;nbsp;2, 2008 and consisted of 52&amp;nbsp;weeks. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial; TEXT-ALIGN: justify"&gt;&lt;font size="2"&gt;&lt;b&gt;Reclassifications&lt;/b&gt;&lt;/font&gt;&lt;font size="2"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Certain prior year amounts have been reclassified to conform to the current year presentation. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial; TEXT-ALIGN: justify"&gt;&lt;font size="2"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Accounting policies applicable to the items discussed in the Notes to the Consolidated Financial Statement are described in the respective notes. &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;
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