Target (TGT) 10-Q 2007 Q2 Quarterly report

Exhibit 12

TARGET CORPORATION

Computations of Ratios of Earnings to Fixed Charges for the

Twenty-six Weeks Ended July 29, 2006 and July 30, 2005

and for the Most Recent Five Fiscal Years

(Millions of Dollars)

	Six Months Ended						Fiscal Year Ended
	July 29,			July 30,			Jan. 28,			Jan. 29,			Jan. 31,			Feb. 1,			Feb. 2,
	2006			2005			2006			2005			2004			2003			2002
Ratio of Earnings to Fixed Charges:
Earnings:
Net earnings	$	1,162		$	1,034		$	2,408		$	3,198		$	1,809		$	1,623		$	1,340
Earnings from discontinued operations, net of tax	—			—			—			(75		)	(190		)	(247		)	(239		)
Gain on disposal of discontinued operations, net of tax	—			—			—			(1,238		)	—			—			—
Provision for income taxes	718			631			1,452			1,146			984			851			675
Earnings from continuing operations before income tax	1,880			1,665			3,860			3,031			2,603			2,227			1,776
Fixed charges:
Interest expense	308			251			532			607			569			618			517
Interest portion of rental expense	44			41			84			85			68			48			50
Total fixed charges	352			292			616			692			637			666			567
Less:
Capitalized interest	(23		)	(19		)	(42		)	(18		)	(8		)	(13		)	(33		)
Fixed charges in earnings	329			273			574			674			629			653			534
Earnings available for fixed charges	$	2,209		$	1,938		$	4,434		$	3,705		$	3,232		$	2,880		$	2,310
Ratio of earnings to fixed charges	6.28			6.64			7.21			5.35			5.07			4.33			4.07

Note: Computation is based on continuing operations.