Target (TGT) 10-Q 2006 Q3 Quarterly report

Exhibit (12)

TARGET CORPORATION

Computations of Ratios of Earnings to Fixed Charges for the

Nine Months Ended October 29, 2005 and October 30, 2004

and for the Most Recent Five Fiscal Years

(Millions of Dollars)

	Nine Months Ended								Fiscal Year Ended
	October 29,				October 30,				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	$	1,469			$	2,373			$	3,198		$	1,809		$	1,623		$	1,340		$	1,247
Earnings from discontinued operations, net of tax	—				(75			)	(75		)	(190		)	(247		)	(239		)	(285		)
Gain on disposal of discontinued operations, net of tax	—				(1,222			)	(1,238		)	—			—			—			—
Provision for income taxes	909				653				1,146			984			851			675			600
Earnings from continuing operations before income tax	2,378				1,729				3,031			2,603			2,227			1,776			1,562
Fixed charges:
Interest expense	384				479				607			569			618			517			465
Interest portion of rental expense	64				55				85			68			48			50			63
Total fixed charges	448				534				692			637			666			567			528
Less:
Capitalized interest	(32			)	(7			)	(18		)	(8		)	(13		)	(33		)	(31		)
Fixed charges in earnings	416				527				674			629			653			534			497
Earnings available for fixed charges	$		2,794		$		2,256		$	3,705		$	3,232		$	2,880		$	2,310		$	2,059
Ratio of earnings to fixed charges	6.24				4.23				5.35			5.07			4.33			4.07			3.90

Note: Computation is based on continuing operations.