Update on Target Breach Costs – $148M in Expenses

As has been widely report, during the fourth fiscal quarter of 2013, Target experienced a data breach of payment card and other guest information.

In the second fiscal quarter of 2014, Target expects to record gross breach-related expenses of $148 million, partially offset by a $38 million insurance receivable. Expenses for the quarter include an increase to the accrual for estimated probable losses for what the Target believes to be the vast majority of actual and potential breach-related claims, including claims by payment card networks.

Print Friendly, PDF & Email