Exhibit 12.1
Kohl's Corporation
Ratio of Earnings to Fixed Charges
($000s)
39 Weeks Ended
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November 2, November 3, Fiscal Year (1)
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2002 2001 2001 2000 1999 1998 1997
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Earnings
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Income before income taxes $ 585,903 $ 423,712 $ 799,864 $ 605,114 $ 421,112 $ 316,749 $ 235,063
Fixed charges (2) 116,047 104,918 142,244 116,753 82,835 63,135 57,446
Less interest capitalized
during period (7,373) (4,461) (6,929) (3,478) (4,405) (1,878) (2,043)
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$ 694,577 $ 524,169 $ 935,179 $ 718,389 $ 499,542 $ 378,006 $ 290,466
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Fixed Charges
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Interest (expensed or capitalized) (2) $ 48,144 $ 46,919 $ 63,506 $ 52,305 $ 33,813 $ 24,550 $ 26,304
Portion of rent expense
representative of interest 67,219 57,412 77,964 63,943 48,769 38,385 30,798
Amortization of deferred
financing fees 684 587 774 505 253 200 344
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$ 116,047 $ 104,918 $ 142,244 $ 116,753 $ 82,835 $ 63,135 $ 57,446
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Ratio of earnings to fixed charges 5.99 5.00 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.