Target Corporation prepares its financial statements according to U.S. GAAP. Target's financial statements and disclosure notes for

Question:

Target Corporation prepares its financial statements according to U.S. GAAP. Target's financial statements and disclosure notes for the year ended January 30, 2016, are available in Connect. This material also is available under the Investor Relations link at the company's website (www.target.com). Target has both defined contribution and defined benefit pension plan. In Note 28 "Pension and Postretirement Health Care Plans," Target describes its defined benefit plans.

Required:

1. What were the changes in Target's Projected Benefits Obligation in the fiscal years ended January 30, 2016 (fiscal 2015) and January 31, 2015 (fiscal 2014), for its qualified pension plans?

2. What were the changes in Target's Pension Plan Assets in the fiscal years ended January 30, 2016 and January 31, 2015, for its qualified pension plans?

3. Were these pension plans overfunded or underfunded for the fiscal years ended January 30, 2016 and January 31, 2015?

4. What were the components of Target's Pension Expense in the fiscal years ended January 30, 2016, January 31, 2015, and February 1, 2014?

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