Attached files
| file | filename |
|---|---|
| EX-32.A - EXHIBIT 32.A - TARGET CORP | tgt-20151031xexhibit32a.htm |
| EX-32.B - EXHIBIT 32.B - TARGET CORP | tgt-20151031xexhibit32b.htm |
| EX-31.A - EXHIBIT 31.A - TARGET CORP | tgt-20151031xexhibit31a.htm |
| EX-31.B - EXHIBIT 31.B - TARGET CORP | tgt-20151031xexhibit31b.htm |
| 10-Q - 10-Q - TARGET CORP | tgt-20151031x10xq.htm |
Exhibit (12)
TARGET CORPORATION
Computations of Ratios of Earnings to Fixed Charges for the
Nine Months Ended October 31, 2015 and November 1, 2014
and for the Most Recent Five Fiscal Years
Ratio of Earnings to Fixed Charges | Nine Months Ended | Fiscal Year Ended | ||||||||||||||||||||
(dollars in millions) | Oct 31, 2015 | Nov 1, 2014 | Jan 31, 2015 | Feb 1, 2014 | Feb 2, 2013 | Jan 28, 2012 | Jan 29, 2011 | |||||||||||||||
Earnings from continuing operations before income taxes | $ | 2,906 | $ | 2,219 | $ | 3,653 | $ | 4,121 | $ | 5,056 | $ | 4,621 | $ | 4,495 | ||||||||
Capitalized interest, net | 11 | (4 | ) | (1 | ) | (14 | ) | (12 | ) | 6 | 2 | |||||||||||
Adjusted earnings from continuing operations before income taxes | 2,917 | 2,215 | 3,652 | 4,107 | 5,044 | 4,627 | 4,497 | |||||||||||||||
Fixed charges: | ||||||||||||||||||||||
Interest expense (a) | 461 | 465 | 619 | 641 | 721 | 750 | 776 | |||||||||||||||
Interest portion of rental expense | 81 | 83 | 108 | 108 | 106 | 110 | 110 | |||||||||||||||
Total fixed charges | 542 | 548 | 727 | 749 | 827 | 860 | 886 | |||||||||||||||
Earnings from continuing operations before income taxes and fixed charges | $ | 3,459 | $ | 2,763 | $ | 4,379 | $ | 4,856 | $ | 5,871 | $ | 5,487 | $ | 5,383 | ||||||||
Ratio of earnings to fixed charges | 6.38 | 5.05 | 6.02 | 6.48 | 7.10 | 6.38 | 6.08 | |||||||||||||||
(a) Includes interest on debt and capital leases (including capitalized interest) and amortization of debt issuance costs. Excludes interest income, the loss on early retirement of debt and interest associated with uncertain tax positions, which is recorded within income tax expense.