Transaction Structure, Accounting and Earnings ImpactsTarget expects its third quarter 2012 GAAP earnings per share will reflect a pre-tax gain of approximately $150 million due to a change in the accounting treatment of its receivables from “held for investment” to “held for sale”. In addition, at closing Target expects to recognize an additional pre-tax gain of $350 to $450 million on the sale of its portfolio. Target has posted details on the accounting aspects of this transaction on its investor relations website: www.Target.com/investors.
Target Announces Agreement To Sell Credit Card Portfolio To TD Bank Group
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