Attached files

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EX-10.S - EXHIBIT 10.S - TARGET CORPtgt-20180203xexhibit10s.htm
EX-10.T - EXHIBIT 10.T - TARGET CORPtgt-20180203xexhibit10t.htm
EX-32.B - EXHIBIT 32.B - TARGET CORPtgt-20180203xexhibit32b.htm
EX-32.A - EXHIBIT 32.A - TARGET CORPtgt-20180203xexhibit32a.htm
EX-31.B - EXHIBIT 31.B - TARGET CORPtgt-20180203xexhibit31b.htm
EX-31.A - EXHIBIT 31.A - TARGET CORPtgt-20180203xexhibit31a.htm
EX-24 - EXHIBIT 24 - TARGET CORPtgt-20180203xexhibit24.htm
EX-23 - EXHIBIT 23 - TARGET CORPtgt-20180203xexhibit23.htm
EX-21 - EXHIBIT 21 - TARGET CORPtgt-20180203xexhibit21.htm
EX-10.X - EXHIBIT 10.X - TARGET CORPtgt-20180203xexhibit10x.htm
EX-10.U - EXHIBIT 10.U - TARGET CORPtgt-20180203xexhibit10u.htm
EX-10.HH - EXHIBIT 10.HH - TARGET CORPtgt-20180203xexhibit10hh.htm
10-K - 10-K - TARGET CORPtgt-20180203x10k.htm
Exhibit (12)


TARGET CORPORATION
Computations of Ratios of Earnings to Fixed Charges for each of the
Five Years in the Period Ended February 03, 2018
Ratio of Earnings to Fixed Charges
 
Fiscal Year Ended
(dollars in millions)
 
February 3, 2018

January 28, 2017

January 30, 2016

January 31, 2015

February 1, 2014

Earnings from continuing operations before income taxes
 
$3,646
$3,965
$4,923
$3,653
$4,121
Capitalized interest, net
 
16

20

16

(1
)
(14
)
Adjusted earnings from continuing operations before income taxes
 
3,662

3,985

4,939

3,652

4,107

Fixed charges:
 
 
 
 
 
 
Interest expense (a)
 
568

591

616

619

641

Interest portion of rental expense
 
113

107

108

108

108

Total fixed charges
 
681

698

724

727

749

Earnings from continuing operations before income taxes and fixed charges
 
$4,343
$4,683
$5,663
$4,379
$4,856
Ratio of earnings to fixed charges
 
6.38

6.71

7.82

6.02

6.48

(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.