Target (TGT) 10-Q 2006 Q2 Quarterly report

Exhibit (12)

TARGET CORPORATION

Computations of Ratios of Earnings to Fixed Charges for the

Six Months Ended July 30, 2005 and July 31, 2004

and for the Most Recent Five Fiscal Years

(Millions of Dollars)

	Six Months Ended						Fiscal Year Ended
	July 30,			July 31,			Jan. 29,			Jan. 31,			Feb. 1,			Feb. 2,			Feb. 3,
	2005			2004			2005			2004			2003			2002			2001
Ratio of Earnings to Fixed Charges:
Earnings:
Net earnings	$	1,034		$	1,842		$	3,198		$	1,809		$	1,623		$	1,340		$	1,247
Earnings from discontinued operations, net of tax	—			(71		)	(75		)	(190		)	(247		)	(239		)	(285		)
Gain on disposal of discontinued operations, net of tax	—			(1,019		)	(1,238		)	—			—			—			—
Provision for income taxes	631			457			1,146			984			851			675			600
Earnings from continuing operations before income tax	1,665			1,209			3,031			2,603			2,227			1,776			1,562
Fixed charges:
Interest expense	251			356			607			569			618			517			465
Interest portion of rental expense	41			35			85			68			48			50			63
Total fixed charges	292			391			692			637			666			567			528
Less:
Capitalized interest	(19		)	(4		)	(18		)	(8		)	(13		)	(33		)	(31		)
Fixed charges in earnings	273			387			674			629			653			534			497
Earnings available for fixed charges	1,938			1,596			$	3,705		$	3,232		$	2,880		$	2,310		$	2,059
Ratio of earnings to fixed charges	6.64			4.08			5.35			5.07			4.33			4.07			3.90

Note: Computation is based on continuing operations.