Target Data Breach Price Tag: $252 Million And Counting

In a recently-released Form 8-K filing announcing fourth quarter and year-end financial results, Target Corporation reported that expenses incurred in 2014 relating to its 2013 data breach totaled over $191 million. Those expenses were offset by $46 million in insurance proceeds, resulting in a $145 million charge against Target's 2014 operating results. The expenses incurred in 2014 were in addition to $61 million in breach-related expenses incurred in 2013 which, after receipt of $44 million in insurance proceeds, yielded $17 million in net breach-related expenses for Target in 2013. In all, Target has incurred $252 million in costs arising from the data breach through the end of 2014 which, after receipt of $90 million in insurance proceeds, has resulted in total net expenses to Target in 2013 and 2014 of about $162 million.