TARGET CORPORATION
Computations of Ratios of Earnings to Fixed Charges for each of the
Five Years in the Period Ended January 28, 2012
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Fiscal Year Ended |
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| Ratio of Earnings to Fixed Charges |
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| (millions) |
January 28, 2012 |
January 29, 2011 |
January 30, 2010 |
January 31, 2009 |
February 2, 2008 |
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Earnings from continuing operations before income taxes |
$ | 4,456 | $ | 4,495 | $ | 3,872 | $ | 3,536 | $ | 4,625 | ||||||
Capitalized interest, net |
5 | 2 | (9 | ) | (48 | ) | (66 | ) | ||||||||
Adjusted earnings from continuing operations before income taxes |
4,461 | 4,497 | 3,863 | 3,488 | 4,559 | |||||||||||
Fixed charges: |
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Interest expense (a) |
797 | 776 | 830 | 956 | 747 | |||||||||||
Interest portion of rental expense |
111 | 110 | 105 | 103 | 94 | |||||||||||
Total fixed charges |
908 | 886 | 935 | 1,059 | 841 | |||||||||||
Earnings from continuing operations before income taxes and fixed charges |
$ | 5,369 | $ | 5,383 | $ | 4,798 | $ | 4,547 | $ | 5,400 | ||||||
Ratio of earnings to fixed charges |
5.91 | 6.08 | 5.13 | 4.29 | 6.42 | |||||||||||
70