Target (TGT) 10-Q 2010 Q2 Quarterly report

Exhibit (12)

TARGET CORPORATION

Computations of Ratios of Earnings to Fixed Charges for the

Six Months Ended July 31, 2010 and August 1, 2009

and for the Most Recent Five Fiscal Years

	Six Months Ended					Fiscal Year Ended
	July 31,		August 1,			Jan. 30,			Jan. 31,			Feb. 2,			Feb. 3,			Jan. 28,
(millions)	2010		2009			2010			2009			2008			2007			2006
Ratio of Earnings to Fixed Charges
Earnings from continuing operations before income taxes	$	2,135	$	1,780		$	3,872		$	3,536		$	4,625		$	4,497		$	3,860
Capitalized interest, net	2		(11		)	(9		)	(48		)	(66		)	(47		)	(42		)
Adjusted earnings from continuing operations before income taxes	2,137		1,769			3,863			3,488			4,559			4,450			3,818
Fixed charges:
Interest expense(a)	381		419			830			956			747			646			532
Interest portion of rental expense	55		52			105			103			94			88			84
Total fixed charges	436		471			935			1,059			841			734			616
Earnings from continuing operations before income taxes and fixed charges	$	2,573	$	2,240		$	4,798		$	4,547		$	5,400		$	5,184		$	4,434
Ratio of earnings to fixed charges	5.90		4.76			5.13			4.29			6.42			7.06			7.21

(a)Includes interest on debt and capital leases (including capitalized interest) and amortization of debt issuance costs.  Excludes interest income and interest associated with unrecognized tax benefit liabilities, which is recorded within income tax expense.

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