Exhibit 12.1
Kohl's Corporation
Ratio of Earnings to Fixed Charges
($000s)
Fiscal Year (1)
--------------------------------------------------------
2001 2000 1999 1998 1997
---- ---- ---- ---- ----
Earnings
- --------
Income before income taxes $799,864 $605,114 $421,112 $316,749 $235,063
Fixed charges (2) 142,244 116,753 82,835 63,135 57,446
Less interest capitalized
during period (6,929) (3,478) (4,405) (1,878) (2,043)
-------- -------- -------- -------- --------
$935,179 $718,389 $499,542 $378,006 $290,466
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Fixed Charges
- -------------
Interest (expensed or capitalized) (2) $63,506 $52,305 $33,813 $24,550 $26,304
Portion of rent expense
representative of interest 77,964 63,943 48,769 38,385 30,798
Amortization of deferred
financing fees 774 505 253 200 344
-------- -------- -------- -------- --------
$142,244 $116,753 $82,835 $63,135 $57,446
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Ratio of earnings to fixed charges 6.57 6.15 6.03 5.99 5.06
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(1) Fiscal 2001, 1999, 1998 and 1997 were 52 week years and fiscal 2000 was a
53 week year.
(2) Interest expense for fiscal 1997 has been restated to properly reflect
interest expense included on the Consolidated Statements of Income.