Three Months Ended

Fiscal Year Ended

Apr. 30,

May 31,

Jan. 29,

Jan. 30,

Jan. 31,

Feb. 2,

Feb. 3,

(millions)

2011

2010

2011

2010

2009

2008

2007

Ratio of Earnings to Fixed Charges

Earnings from continuing operations before income taxes

$

1,081

$

1,055

$

4,495

$

3,872

$

3,536

$

4,625

$

4,497

Capitalized interest, net

2

1

2

(9

)

(48

)

(66

)

(47

)

Adjusted earnings from continuing operations before income taxes

1,083

1,056

4,497

3,863

3,488

4,559

4,450

Fixed charges:

Interest expense(a)

186

191

776

830

956

747

646

Interest portion of rental expense

30

26

110

105

103

94

88

Total fixed charges

216

217

886

935

1,059

841

734

Earnings from continuing operations before income taxes and fixed charges

$

1,299

$

1,273

$

5,383

$

4,798

$

4,547

$

5,400

$

5,184

Ratio of earnings to fixed charges

6.01

5.86

6.08

5.13

4.29

6.42

7.06

(a)

Includes interest on debt and capital leases (including capitalized interest) and amortization of debt issuance costs.  Excludes interest income and interest associated with unrecognized tax benefit liabilities, which is recorded within income tax expense.