Kohl's (KSS) 10-Q 2004 Q2 Quarterly report

Exhibit 12.1

Kohl’s Corporation

Ratio of Earnings to Fixed Charges

($000s)

	26 Weeks Ended						Fiscal Year (1)
	August 2,			August 3,
	2003			2002			2002			2001			2000			1999			1998
Earnings
Income before income taxes	$	358,746		$	371,398		$	1,034,374		$	799,864		$	605,114		$	421,112		$	316,749
Fixed charges		99,822			75,980			161,091			142,244			116,753			82,835			63,135
Less interest capitalized during period		(4,173	)		(4,993	)		(9,820	)		(6,929	)		(3,478	)		(4,405	)		(1,878	)
	$	454,395		$	442,385		$	1,185,645		$	935,179		$	718,389		$	499,542		$	378,006
Fixed Charges
Interest (expensed or capitalized)	$	40,327		$	31,833		$	68,298		$	63,506		$	52,305		$	33,813		$	24,550
Portion of rent expense representative of interest		52,874			43,732			91,822			77,964			63,943			48,769			38,385
Amortization of deferred financing fees		6,621			415			971			774			505			253			200
	$	99,822		$	75,980		$	161,091		$	142,244		$	116,753		$	82,835		$	63,135
Ratio of earnings to fixed charges		4.55			5.82			7.36			6.57			6.15			6.03			5.99

(1) Fiscal 2002, 2001, 1999 and 1998 were 52 week years and fiscal 2000 was a 53 week year.