Exhibit 12.1
| February 3, | January 28, | January 29, | January 31, | February 1, | ||||||||||||||||
| 2007 | 2006 | 2005 | 2004 | 2003 | ||||||||||||||||
| (53 weeks) | (52 weeks) | (52 weeks) | (52 weeks) | (52 weeks) | ||||||||||||||||
| (in millions of dollars) | ||||||||||||||||||||
| Earnings: | ||||||||||||||||||||
| Earnings before tax expense | $ | 1,748 | $ | 1,525 | $ | 286 | $ | 739 | $ | 1,950 | ||||||||||
| Fixed charges | 870 | 895 | 950 | 983 | 1,000 | |||||||||||||||
| Capitalized interest | (13 | ) | (7 | ) | (5 | ) | (5 | ) | (5 | ) | ||||||||||
| Pre-tax earnings before fixed charges | $ | 2,605 | $ | 2,413 | $ | 1,231 | $ | 1,717 | $ | 2,945 | ||||||||||
| Fixed charges: | ||||||||||||||||||||
| Interest | $ | 501 | $ | 518 | $ | 562 | $ | 609 | $ | 624 | ||||||||||
| Portion of rental payments deemed to be interest | 370 | 377 | 388 | 374 | 376 | |||||||||||||||
| Total fixed charges | $ | 871 | $ | 895 | $ | 950 | $ | 983 | $ | 1,000 | ||||||||||
| Ratio of earnings to fixed charges | 3.0 | 2.7 | 1.3 | 1.7 | 2.9 | |||||||||||||||